Leading Middle Eastern banks are setting the bar high with a plethora of online services that cater to the diverse needs of their customers. These banks are not only enhancing their existing services but also aggressively launching new products to stay ahead in the competitive market. The focus is on specialization and innovation to serve different demographics effectively.
Arab Bank, the regional winner and Best Bank in the Middle East, is leading the pack with its commitment to innovation and digital transformation. With a strong regional presence and a diverse client base, Arab Bank is continuously expanding its product line and business model to meet the evolving needs of consumers, SMEs, and commercial clients. The bank’s digital strategy, including the Acabes fintech development lab, is driving improvements in customer experience and service offerings.
In Bahrain, Ahli United Bank is spearheading the growth of Islamic banking following its conversion to a fully Shariah-compliant bank. The bank’s focus on digital enhancements and customer service has resulted in a seamless transition for clients and the introduction of new mobile banking features for improved performance and security.
Qatar National Bank in Iraq is leveraging its digital capabilities to serve new customers and enhance the banking experience for existing clients. With a majority stake in Al-Mansour Bank, QNB is well-positioned to expand its digital offerings and capture a larger market share in the region.
National Bank of Kuwait is capitalizing on the demand for Islamic banking in Kuwait by offering a range of conventional and Islamic financial products. The bank’s customer-centric approach to digital banking has led to the successful launch of new mobile banking apps and increased adoption rates among customers.
Bank Muscat in Oman is leading the way with its comprehensive portfolio of banking services, including Shariah-compliant products through Meethaq Islamic Banking. The bank’s focus on digital banking services for consumers and commercial clients has resulted in strong adoption rates and a significant market share in Oman.
In Qatar, Qatar Islamic Bank is enhancing its product line with digital solutions tailored to various customer segments. The bank’s digital transformation aligns with Qatar’s National Vision 2030 and includes the introduction of new digital offerings and features to improve customer engagement and convenience.
Saudi Awwal Bank in Saudi Arabia is upgrading its services to capture market share and improve customer experience for retail and commercial clients. The bank’s focus on digital banking products and services, including a merchant portal and automated credit approval process, is driving efficiency and growth in the market.
Emirates NBD in the UAE is at the forefront of digital transformation with the launch of its ENBD X mobile banking app. The bank’s investment in digital technologies and strategic partnerships with fintech companies are driving innovation and growth in the region. Emirates NBD’s focus on sustainability and ESG principles further solidifies its position as a leader in the banking sector.
Overall, Middle Eastern banks are embracing digital innovation and specialization to meet the evolving needs of their customers and stay competitive in the rapidly changing financial landscape. With a focus on sustainability and customer-centric digital solutions, these banks are paving the way for a more efficient and inclusive banking experience in the region.