- Hussain Abdulla – Co-CEO shared a panel discussion titled “Banking On The Future: The Outlook for Financial Institutions in the GCC and Beyond”
Taking part in a panel discussion at the fifth edition of the Future Investment Initiative (FII), QINVEST, Qatar's leading private investment group and one of the region’s most prominent Islamic financial institutions, emphasized that the regional banking industry must accelerate the adoption of fintech and digital banking to ensure it can maintain a favourable position within the global financial sector.
FII is a platform driven by expert-led debates, discussions, and partnerships among the world’s most influential leaders in business and government. The latest edition of the event took place over October 26-29 in the Saudi capital, Riyadh. Including Larry Fink, CEO of BlackRock, David Solomon, Chairman and CEO of Goldman Sachs Group, Stephen Schwarzman, Chariman and CEO of Blackstone Group, investors, and policymakers discussed how best to make investments that will create the greatest benefits for humanity, as multiple sectors witness a renaissance in the post-COVID era.
QINVEST’s participation was led by its co-CEO, Hussain Abdulla, who took part in a panel discussion titled “Banking On The Future: The Outlook for Financial Institutions in the GCC and Beyond”. The session included prominent leaders – H.E. Fahad Al Mubarak, Governor, SAMA; Timothy Collins, CEO, Ripplewood Advisors; Robert Edward 'Bob' Diamond, Founding Partner & CEO, Atlas Merchant Capital; and Frederic Oudea, CEO, Societe Generale – and refocused attention on challenges facing the banking industry as it continues to adapt to market disruptors.
Commenting on recent trends in the regional banking sector, QINVEST co-CEO, Hussain Abdulla, said: “Over the past two years, COVID-19 has accelerated digitalization across the industry with many banking institutions dedicating significant resources to digital solutions, which has played a key role in sustaining businesses and reducing overheads in low volume situations. As we enter a post-COVID era, the main challenge for banks in the Middle East will be ensuring that we do not lag behind global institutions by adopting innovative digital and fintech solutions that further drive customer experience personalization at an increasingly rapid rate.”
FII provides participants with a unique platform to explore pioneering solutions that address society's challenges and propel action towards their realization. The 5th Anniversary of the three-day conference saw discussions around a range of topics, including Investing in Education; Investing in the Metaverse; and Investing in Environmental, Social and Governance (ESG).
- Ends -
From left: HE Fahad Al Mubarak, Governor, SAMA; Mr. Hussain Abdulla, CEO, QINVEST, Mr. Frederic Oudea, CEO, Societe Generale; Mr. Timothy Collins, CEO, Ripplewood Advisors; Mr. Robert Edward 'Bob' Diamond, Founding Partner & CEO, Atlas Merchant Capital