The Future of Banking in the Gulf: Preparing for a New Era
Our Privacy Policy has been updated! The Conference Board uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. Detailed information on the use of cookies on this site is provided in our cookie policy. For more information on how The Conference Board collects and uses personal data, please visit our privacy policy. By continuing to use this Site or by clicking "OK", you acknowledge our privacy policy and consent to the use of cookies.  Our Privacy Policy has been updated! Detailed information on the use of cookies on this site is provided in our cookie policy and our privacy policy. 
TCB Tourch
Loading...
  • logoImage
  •  
    • US
    • EUROPE
    • ASIA

  • 2

    Close
    • Insights
        • Insights
        • Explore by Center
          • Explore by Center

          • Economy, Strategy & Finance

          • Environmental, Social & Governance

          • Human Capital
        • Explore by Content Type
          • Explore by Content Type

          • Reports

          • Webcasts

          • Podcasts

          • Charts & Infographics
        • Trending Topics
          • Trending Topics

          • Artificial Intelligence (AI)

          • 2024 Elections

          • Geopolitics

          • US Economic Forecast

          • Sustainability

          • Future of Work
    • Events
        • Events
        • Upcoming Events
          • Upcoming Events

          • Asia | Europe DEI Dialogue 2024

          • 2025: A Year In Preview

          • Future: Reward Europe 2025

          • CHRO Summit

          • Explore all Upcoming Events

        • Member-Exclusive Programs
          • Member-Exclusive Programs

          • Center Briefings

          • Experts Live

          • Roundtables

          • Working Groups

          • Expert Briefings

    • Data
        • Data

        • Consumer Confidence Index

        • Data Central

        • TCB Benchmarking

        • Employment Trends Index

        • Global Economic Outlook

        • Leading Economic Indicators

        • Help Wanted OnLine

        • Labor Markets

        • Measure of CEO Confidence

        • Human Capital Benchmarking &
          Data Analytics

        • CMO+CCO Meter Dashboard

    • Centers
        • Centers
        • Our Centers
          • Our Centers

          • Economy, Strategy & Finance

          • Environmental, Social & Governance

          • Human Capital
        • Center Membership
          • Center Membership

          • What Is a Center?

          • Benefits of Center Membership

          • Join a Center

    • Councils
        • Councils
        • Find a Council
          • Find a Council

          • Economy, Strategy & Finance

          • Environmental, Social & Governance

          • Human Capital
        • Council Membership
          • Council Membership

          • What is a Council?

          • Benefits of Council Membership

          • Apply to a Council

    • Membership
        • Membership
        • Why Become a Member?
          • Why Become a Member?

          • Benefits of Membership

          • Check if Your Organization is a Member

          • Speak to a Membership Associate
        • Types of Membership
          • Types of Membership

          • Council

          • Economy, Strategy & Finance

          • Environmental, Social & Governance

          • Human Capital

        • Already a Member?
          • Already a Member?

          • Sign In to myTCB™

          • Executive Communities

          • Member-Exclusive Programs

    • About Us
        • About Us
        • Who We Are
          • Who We Are

          • About Us

          • In the News

          • Press Releases

          • Our History

          • Support Our Work

          • Locations

          • Contact Us

        • Our Community
          • Our Community

          • Our Leadership

          • Our Experts

          • Trustees

          • Voting Members

          • Global Counsellors

          • Careers

          • This Week @ TCB

    • Careers
    • This Week @ TCB
    • Sign In to myTCB™
      • US
      • EUROPE
      • ASIA
    • Insights
      • Insights
      • Explore by Center
        • Explore by Center

        • Economy, Strategy & Finance

        • Environmental, Social & Governance

        • Human Capital

      • Explore by Content Type
        • Explore by Content Type

        • Reports

        • Webcasts

        • Podcasts

        • Charts & Infographics

      • Trending Topics
        • Trending Topics

        • Artificial Intelligence (AI)

        • 2024 Elections

        • Geopolitics

        • US Economic Forecast

        • Sustainability

        • Future of Work

    • Events
      • Events
      • Upcoming Events
        • Upcoming Events

        • Asia | Europe DEI Dialogue 2024

        • 2025: A Year In Preview

        • Future: Reward Europe 2025

        • CHRO Summit

        • Explore all Upcoming Events

      • Member-Exclusive Programs
        • Member-Exclusive Programs

        • Center Briefings

        • Experts Live

        • Roundtables

        • Working Groups

        • Expert Briefings

    • Data
      • Data

      • Consumer Confidence Index

      • Data Central

      • TCB Benchmarking

      • Employment Trends Index

      • Global Economic Outlook

      • Leading Economic Indicators

      • Help Wanted OnLine

      • Labor Markets

      • Measure of CEO Confidence

      • Human Capital Benchmarking & Data Analytics

      • CMO+CCO Meter Dashboard
    • Centers
      • Centers
      • Our Centers
        • Our Centers

        • Economy, Strategy & Finance

        • Environmental, Social & Governance

        • Human Capital

      • Center Membership
        • Center Membership

        • What is a Center?

        • Benefits of Center Membership

        • Join a Center

    • Councils
      • Councils
      • Find a Council
        • Find a Council

        • Economy, Strategy & Finance

        • Environmental, Social & Governance

        • Human Capital
      • Council Membership
        • Council Membership

        • What is a Council?

        • Benefits of Council Membership

        • Apply to a Council

    • Membership
      • Membership
      • Why Become a Member?
        • Why Become a Member?

        • Benefits of Membership

        • Check if Your Organization is a Member

        • Speak to a Membership Associate

      • Types of Membership
        • Types of Membership

        • Council

        • Economy, Strategy & Finance

        • Environmental, Social & Governance

        • Human Capital

      • Already a Member?
        • Already a Member?

        • Sign In to myTCB™

        • Executive Communities

        • Member-Exclusive Programs
    • About Us
      • About Us
      • Who We Are
        • Who We Are

        • About Us

        • In the News

        • Press Releases

        • This Week @ TCB

        • Our History

        • Support Our Work

        • Locations

        • Contact Us

      • Our Community
        • Our Community

        • Our Leadership

        • Our Experts

        • Trustees

        • Voting Members

        • Global Counsellors

        • Careers

        • This Week @ TCB

    • Careers
    • Sign In to myTCB™
    • Download TCB Insights App
  • Insights
    Insights

    Our research and analysis have helped the world's leading companies navigate challenges and seize opportunities for over 100 years.

    Explore All Research

    Economic Indicators

    • Explore by Center
    • Economy, Strategy & Finance
    • Environmental, Social & Governance
    • Human Capital
    • Explore by Content Type
    • Reports
    • Webcasts
    • Podcasts
    • Charts & Infographics
    • Trending Topics
    • Artificial Intelligence (AI)
    • 2024 Elections
    • Geopolitics
    • US Economic Forecast
    • Sustainability
    • Future of Work
  • Events
    Events

    Our in-person and virtual events offer unmatched opportunities for professional development, featuring top experts and practitioners.

    See Everything Happening This Week

    Sponsor a Program

    • Upcoming Events

      • Asia | Europe DEI Dialogue 2024

      December 04, 2024

      2025: A Year In Preview

      February 04 - 05, 2025

      Future: Reward Europe 2025

      June 05 - 06, 2025

    •  

      • CHRO Summit

      June 24, 2025

    Explore all Upcoming Events

    • Member-Exclusive Programs
    • Center Briefings
    • Experts Live
    • Roundtables
    • Working Groups
    • Expert Briefings
    • Explore by Type
    • Events
    • Webcasts
    • Podcasts
    • Member-Exclusive Programs
    • Center Briefings
    • Experts Live
    • Roundtables
    • Working Groups
    • Expert Briefings
  • Data
    TCB Benchmarking

    Real-time data & analytical tools to benchmark your governance, compensation, environmental and social practices against US public companies

    Economic Data

    Consumer Confidence Index

    US consumers' thoughts on the economy, jobs, finances and more

    Data Central

    One-stop, member-exclusive portal for the entire suite of indicators

    Labor Markets

    Covering all aspects of labor markets, from monthly development to long-term trends

    Measure of CEO Confidence

    Examines the health of the US economy from the perspective of CEOs

     

    Employment Trends Index

    Monthly, forward-looking composite of eight proven labor-market indicators

    Global Economic Outlook

    Track the latest short-, medium-, and long-term growth outlooks for 77 economies

    Leading Economic Indicators

    Track the state of the business cycle for 12 global economies across Asia and Europe

    Help Wanted OnLine

    Track the status of job markets across the US through online job listings

    Other Featured Data

    Human Capital Analytics Tools

    Tools to understand human capital management and corporate performance

    CMO+CCO Meter Dashboard

    Tracks the impact, resources, and satisfaction of CMOs and CCOs

  • Centers
    Centers

    Centers offer access to world-class experts, research, events, and senior executive communities.

    Our Centers
    • Economy, Strategy & Finance
    • Environmental, Social & Governance
    • Human Capital
    Center Membership
    • What Is a Center?
    • Benefits of Center Membership
    • Join a Center
  • Councils
    Councils

    Councils are invitation-only, peer-led communities of senior executives that come together to exchange knowledge, accelerate career development, and advance their function.

    Find a Council
    • Economy, Strategy & Finance
    • Environmental, Social & Governance
    • Human Capital
    Council Membership
    • What Is a Council?
    • Benefits of Council Membership
    • Apply to a Council
  • Membership
    Membership

    Membership in The Conference Board arms your team with an arsenal of knowledge, networks, and expertise that's unmatched in scope and depth.

    • Why Become a Member?
    • Benefits of Membership
    • Check if Your Organization is a Member
    • Speak to a Membership Associate
    • Types of Membership
    • Council
    • Economy, Strategy & Finance
    • Environmental, Social & Governance
    • Human Capital
    • Already a Member?
    • Sign in to myTCBTM
    • Executive Communities
    • Member-Exclusive Programs
  • About Us
    About Us

    The Conference Board is the global, nonprofit think tank and business membership organization that delivers Trusted Insights for What's Ahead™. For over 100 years, our cutting-edge research, data, events and executive networks have helped the world's leading companies understand the present and shape the future.

    Learn more about Membership

    • Who We Are
    • About Us
    • In the News
    • Press Releases
    • Our History
    • Support Our Work
    • Locations
    • Contact Us
    • Our Community
    • Our Leadership
    • Our Experts
    • Trustees
    • Voting Members
    • Careers
    • This Week @ TCB
Check if You're a Member
Create Account
Forgot Your Password?

Members of The Conference Board get exclusive access to the full range of products and services that deliver Trusted Insights for What's Ahead TM including webcasts, publications, data and analysis, plus discounts to conferences and events.

The Future of Banking in the Gulf: Preparing for a New Era

12 October 2023 / Report

Download Report
  • Email
  • Linkedin
  • Facebook
  • Twitter
  • Copy Link
listenPlayBtnImage

CEO Insight Minute: How Can Gulf Banks Prepare for a New Era?

Video

CEO Insight Minute: How Can Gulf Banks Prepare for a New Era?

Banks have advantages, like decades of customer transaction data, but need to embrace innovation to stay ahead of the competition.

Banking in the Arab Gulf states is at a crossroads. Major advances in new technologies from AI to mobile are intersecting with new forces in consumer demand. Powerful new entrants are seizing opportunities and capturing customer loyalty, and GCC financial leaders face tremendous pressure to make bold and even gamechanging choices.

Trusted Insights for What's Ahead™

  • The Arab Gulf states have started to embrace the evolution of banking. Regional governments and regulators understand the importance of embracing the emerging new ways of banking as a vibrant fintech ecosystem takes shape. Now, adoption must keep pace with innovation.
  • New financial services are evolving through five distinct stages. From early stages of presence and penetration to ensuring their sustained role in profitability, persistence, and permanence, banks need to secure their futures. How will fintechs change the landscape? Which innovations must be embraced?
  • Banks need to apply a three-pronged strategy. Incumbents must 1) accelerate and streamline their adoption of new technology, 2) translate new tech into sustainable business models, and 3) nurture their role in a vibrant ecosystem that will ensure they play a central role in the future of banking in the region.
  • In some arenas, like the adoption of artificial intelligence, incumbent banks are positioned to lead the pack by investing in innovation and talent today. But the Gulf Cooperation Council market is eyed by many, raising the stakes for local banks to quickly decide where they’ll make their next moves.

Banking in the Arab Gulf states is at a crossroads. Major advances in new technologies from AI to mobile are intersecting with new forces in consumer demand. Powerful new entrants are seizing opportunities and capturing customer loyalty, and GCC financial leaders face tremendous pressure to make bold and even gamechanging choices.

Trusted Insights for What's Ahead™

  • The Arab Gulf states have started to embrace the evolution of banking. Regional governments and regulators understand the importance of embracing the emerging new ways of banking as a vibrant fintech ecosystem takes shape. Now, adoption must keep pace with innovation.
  • New financial services are evolving through five distinct stages. From early stages of presence and penetration to ensuring their sustained role in profitability, persistence, and permanence, banks need to secure their futures. How will fintechs change the landscape? Which innovations must be embraced?
  • Banks need to apply a three-pronged strategy. Incumbents must 1) accelerate and streamline their adoption of new technology, 2) translate new tech into sustainable business models, and 3) nurture their role in a vibrant ecosystem that will ensure they play a central role in the future of banking in the region.
  • In some arenas, like the adoption of artificial intelligence, incumbent banks are positioned to lead the pack by investing in innovation and talent today. But the Gulf Cooperation Council market is eyed by many, raising the stakes for local banks to quickly decide where they’ll make their next moves.
Great News!

You already have an account with The Conference Board.

Please try to login in with your email or click here if you have forgotten your password.

  • Download
  • Download Report

Authors

Nemr Kanafani

Nemr Kanafani Nemr Kanafani

Former Senior Economist
The Conference Board

Read Bio

Andrea Kates

Andrea Kates Andrea Kates

Innovation Advisor, former tech CEO Silicon Valley

Read Bio

Other Related Resources

Database

Recession & Growth Trackers

Recession & Growth Trackers

November 21, 2024

Guide & Reference

Technical Notes for the US LEI

Technical Notes for the US LEI

November 21, 2024

Report

Global Economic Outlook 2025 to 2039: Opportunities, Caveats, and Uncertainties

Global Economic Outlook 2025 to 2039: Opportunities, Caveats, and Uncertainties

November 12, 2024

Article

BRICS and G-20: Seeking Alternatives to the Western-Led Order

BRICS and G-20: Seeking Alternatives to the Western-Led Order

November 01, 2024

Newsletters & Alerts

AI Innovation: Transforming Communication and Work

AI Innovation: Transforming Communication and Work

November 01, 2024

Report

China Consumption Monthly Roundup | October 2024

China Consumption Monthly Roundup | October 2024

November 01, 2024

Report

Global LEI Report

Global LEI Report

October 30, 2024

Report

China’s GDP expanded by 4.6% in Q3 with momentum improving slightly in September

China’s GDP expanded by 4.6% in Q3 with momentum improving slightly in September

October 30, 2024

Article

The Conference Board Economic Forecast for the US Economy

The Conference Board Economic Forecast for the US Economy

October 23, 2024

Essay

The Draghi Report: Where to Find 800 Billion Euros

The Draghi Report: Where to Find 800 Billion Euros

October 23, 2024

Report

Navigating Sino-Western Geopolitical Risk—An Impacts-Based Approach

Navigating Sino-Western Geopolitical Risk—An Impacts-Based Approach

October 20, 2024

Article

Economy Watch: European View (October 2024)

Economy Watch: European View (October 2024)

October 11, 2024

Article

Economy Watch: Emerging Markets View (October 2024)

Economy Watch: Emerging Markets View (October 2024)

October 11, 2024

Report

The Conference Board Economic Forecast for the Euro Area Economy

The Conference Board Economic Forecast for the Euro Area Economy

October 11, 2024

Brief

Developed Market Central Bank Watch - October 2024

Developed Market Central Bank Watch - October 2024

October 03, 2024

Report

China to grow by 4.8% in 2024, as economic momentum fails to pick up

China to grow by 4.8% in 2024, as economic momentum fails to pick up

September 29, 2024

Report

China Consumption Monthly Roundup | September 2024

China Consumption Monthly Roundup | September 2024

September 26, 2024

Newsletters & Alerts

The critical factor holding AI back from its full potential

The critical factor holding AI back from its full potential

September 26, 2024

Article

Economy Watch: European View (September 2024)

Economy Watch: European View (September 2024)

September 20, 2024

Article

Economy Watch: US View (September 2024)

Economy Watch: US View (September 2024)

September 20, 2024

Article

The Transformation Challenge—How to Lead It Effectively

The Transformation Challenge—How to Lead It Effectively

September 05, 2024

Database


 Recession & Growth Trackers

Recession & Growth Trackers

November 21, 2024

Guide & Reference


 Technical Notes for the US LEI

Technical Notes for the US LEI

November 21, 2024

Report


 Global Economic Outlook 2025 to 2039: Opportunities, Caveats, and Uncertainties

Global Economic Outlook 2025 to 2039: Opportunities, Caveats, and Uncertainties

November 12, 2024

Upcoming Webcasts

The Future of Greening and Industrial Policies Post Election

The Future of Greening and Industrial Policies Post Election

November 26, 2024

Upcoming Webcasts

The Long-term Economic Outlook for the US, Europe, and China

The Long-term Economic Outlook for the US, Europe, and China

December 11, 2024

Conference

2025: A Year In Preview

2025: A Year In Preview

February 04, 2025

Conference

2024 ESG Summit

2024 ESG Summit

November 14, 2024

On Demand Webcasts

The 2025 Global Economic Outlook

The 2025 Global Economic Outlook

November 13, 2024

Conference

Future: Innovate & Transform

Future: Innovate & Transform

November 13, 2024

Conference

AI: Leading Through the AI Transformation

AI: Leading Through the AI Transformation

November 07, 2024

On Demand Webcasts

AI Electricity Demand & Mexico’s Reshoring Strategy

AI Electricity Demand & Mexico’s Reshoring Strategy

October 09, 2024

On Demand Webcasts

The Future of the Global EV Market

The Future of the Global EV Market

September 25, 2024

On Demand Webcasts

The Fed Pivot—When Will It Come and What Happens Next?

The Fed Pivot—When Will It Come and What Happens Next?

September 11, 2024

Councils

Gulf Strategy and Transformation Council

Gulf Strategy and Transformation Council

Councils

Tax Executives Council

Tax Executives Council

Councils

Chief Operating Officers Council

Chief Operating Officers Council

Councils

Gulf Chief Financial Officer Council

Gulf Chief Financial Officer Council

Councils

Supply Chain Executives Council

Supply Chain Executives Council

Councils

CFO Business Unit Council

CFO Business Unit Council

Councils

Gulf Leadership, Talent and Organizational Development Council

Gulf Leadership, Talent and Organizational Development Council

Councils

Mergers & Acquisitions Council

Mergers & Acquisitions Council

Councils

Corporate Communications Strategy Council

Corporate Communications Strategy Council

Councils

Commercial Strategy Council

Commercial Strategy Council

Councils

Innovation Council

Innovation Council

Upcoming Webcasts


 The Future of Greening and Industrial Policies Post Election

The Future of Greening and Industrial Policies Post Election

November 26, 2024

Upcoming Webcasts


 The Long-term Economic Outlook for the US, Europe, and China

The Long-term Economic Outlook for the US, Europe, and China

December 11, 2024

Conference


 2025: A Year In Preview

2025: A Year In Preview

February 04, 2025

Conference Board Sample Web Chat
chatbot-Icon TCB Logo
chatbot-Icon
C-Suite Insights Newsletter - Subscribe to the must-read weekly newsletter for C-suite executives from The Conference Board
ABOUT US
  • Who We Are
  • Annual Report
  • Our History
  • Our Experts
  • Our Leadership
  • In the News
  • Press Releases
MEMBERSHIP
  • Become a Member
  • Sign In to myTCB™
  • Access Experts
  • Member-Only Events
  • Data & Benchmarking
  • AskTCB
  • Manage Account
EXPLORE
  • Centers
  • Councils
  • Latest Research
  • Programs
  • Webcasts
  • Podcasts
  • This Week @ TCB
CONTACT US
  • Americas
    +1 212 759 0900
    customer.service@tcb.org
  • Europe/Africa/Middle East
    +32 2 675 5405
    brussels@tcb.org
  • Asia
    Hong Kong | +852 2804 1000
    Singapore | +65 8298 3403
    service.ap@tcb.org
CAREERS
  • See Open Positions
Terms Of Use | Privacy Policy | Event Code of Conduct | Trademarks
© 2024 The Conference Board Inc. All rights reserved. The Conference Board and torch logo are registered trademarks of The Conference Board.
The use of all The Conference Board data and materials is subject to the Terms of Use. Reprint requests are reviewed individually and may be subject to additional fees.The Conference Board reserves the right to deny any request.
Terms of Use | Privacy Policy | Event Code of Conduct | Trademarks
© 2024 The Conference Board Inc. All rights reserved. The Conference Board and torch logo are registered trademarks of The Conference Board.
The use of all data from The Conference Board data and materials is subject to the Terms of Use. Reprint requests are reviewed individually and may be subject to additional fees.The Conference Board reserves the right to deny any request.

Thank you for signing up. You will now receive CEO Insights for What's Ahead every Wednesday morning. You can unsubscribe at any time or manage your preferences to receive more content from The Conference Board.

Announcing The Conference Board AI Virtual Conference Series

Explore the Impact of AI on Your Business

Members receive complimentary registration - Learn more >>

✕
hubCircleImage