Five minute executive

With Abdel Hamid Shoman, CEO, Arab Bank

“The rapid growth of Islamic Finance over the last few years is simply a reflection of the demand, which has been fuelled by the region’s increased wealth. Furthermore, many in the MENA region who also bank traditionally may well prefer a Sharia-compliant option if it is made available to them.”

“Hiring local talent, empowering them to achieve their goals and involving them in decisions taken centrally are three main elements for a successful recipe.”

“While we are present in nearly 30 countries, of which only half are in MENA, we do not view ourselves, nor do we aspire to be, a global banking organisation. We are the leading financial service company in MENA, and most of our activities outside the region are to further our purpose and vision here.”

“Customers are sophisticated. They know their needs and have high expectations. To be successful, banks need to be able to keep up with such fast paced customer expectations, along with the constantly changing operating environment.”

“Technology innovation is a primary differentiator for financial services institutions.”

“The continuous positive growth in the GDP of the Arab region is an important element for our success. Political stability and steady movements towards peace will give us abundant opportunities for better performance.”

“To be the best in class, respond quickly to customers’ changing needs and be more pro-active, we need to have the best people on board.”