The ascent of digital banks in the Gulf region: Prospects and challenges

Ala’ Azmi Abumughli and Ahmet Faruk Aysan
Additional contact information
Ala’ Azmi Abumughli: Hamad Bin Khalifa University, College of Islamic Studies, Qatar Foundation and Chief Wholesale Banking Officer, Doha Bank QPSC,
Ahmet Faruk Aysan: Professor and Coordinator of the Islamic Finance and Economy Programme, Hamad Bin Khalifa University, Qatar

Journal of Digital Banking, 2021, vol. 6, issue 3, 277-286

Abstract: This paper provides a practitioner’s and academic’s perspective on the impending challenges faced by the Gulf banks from the growth of FinTech and technology disruptors in the region. The authors provide a comprehensive view of the approaches taken by the banking industry in the Gulf to face these new challenges, including the support provided by their governments. The paper describes three dominant approaches taken by the banks in the region on the digital banking front. As practitioners and academics, the authors provide their recommendation through their four-corner strategy of action points that the Gulf banks should adopt in order to successfully overcome ongoing challenges posed by FinTech’s and technology disruptors and to stay relevant during this period of changing consumer behavioural patterns led by technology disruption and growth.

Keywords: digital; FinTech; Gulf Banks; collaboration (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://hstalks.com/article/6854/download/ (application/pdf)
https://hstalks.com/article/6854/ (text/html)
Requires a paid subscription for full access.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aza:jdb000:y:2021:v:6:i:3:p:277-286

Access Statistics for this article

More articles in Journal of Digital Banking from Henry Stewart Publications
Bibliographic data for series maintained by Henry Stewart Talks ().