Mena banking sector ready for positive changes

Each year, MEED proudly recognizes the advancements and innovations made by regional banks, redefining the way financial services are delivered and experienced.

One of the key features of this year’s awards was the exceptional quality of the nominations received. The level of excellence demonstrated by the nominees was commendable and reflected the commitment and innovation in the banking and finance sector in the region. The number of entries received was unprecedented, demonstrating the growing importance and competitiveness of these awards.

A noteworthy area of ​​development for the banking sector in the region is the rapid adoption of digital banking solutions. With the rise of fintech startups and traditional banks’ ongoing digitization efforts, customers now have access to convenient and secure digital banking services. Moreover, sustainable finance has become a key area of ​​interest for banks. In recent years, green finance initiatives such as sustainable bonds and loans have been introduced to finance environmentally friendly projects and initiatives.

In addition, banks are increasingly incorporating environmental, social and governance (ESG) criteria into their lending and investment decisions. Another noteworthy trend is the expansion of Islamic banking and finance. With its emphasis on ethical and Shariah-compliant financial practices, Islamic banking has gained popularity among both Muslim and non-Muslim customers looking for alternative banking solutions.

In this year’s special report, we delve into the banking and finance industry in the Middle East, examining the latest trends, challenges and advancements shaping the landscape. We have created insightful content that not only profiles the award winners, but also provides valuable insights into their winning strategies and the factors that set them apart.

As we reflect on these remarkable advances, it becomes clear that the region’s banking sector is entering a new era of innovation and opportunity. With each passing day, banks are leveraging technology, sustainability and inclusion to drive positive change and economic growth across the region.

Once again, I would like to express my heartfelt congratulations to everyone winners of the Mena Banking Excellence Awards 2024. Your achievements are a testament to your hard work, dedication and vision. As we say goodbye to this year’s edition, let us look forward to the progress and successes that await the industry and look forward to the next chapter of excellence in banking.

The third edition of the Mena Banking Excellence Awards took place with great pomp on May 8 at Kempinski The Boulevard Dubai.