Do you become a Middle East banks electronically smartest in the world?

[yota691]

02/10/2014 12:28

Do you become a Middle East banks electronically smartest in the world?

 

 

 BAGHDAD / obelisk: plans to banking institutions in the Middle East Investment latest information technology solutions to become electronically smartest in the world, according to a number of financial experts and business participants within the activities of the fourth annual summit of the banking innovation in the Middle East .

As a result of investment in advanced technologies such as the analysis of large data and cloud computing and mobility, it is expected to increase total spending technical financial institutions in the markets, the big four in the Middle East and Africa and the United Arab Emirates, Saudi Arabia, South Africa, and Turkey compound annual growth rate of eight percent to 5.8 billion USD in 2018, according to the Research Foundation and International Studies, "IDC IDC ".

In this regard, said Nader Basilar, director of the banking sector, telecommunications, Unit Business Solutions "Omenks International", one of the main sponsors of the summit, the fourth annual Innovation banking in the Middle East: "facing the financial and banking institutions Middle East challenges in IT systems inherited to support the next wave of mobile banking services, and in light of the commitment to information security policies strict government., and take advantage of the latest IT solutions, banks will support the Middle East to push the concepts of innovation, competitiveness and become the smartest in the world. "

It is expected to achieve the banking sector in the Middle East double-digit growth in revenue this year, according to released by the Boston Consulting Group, as banks are looking for ways awarded excellence and keep them apart from the competition .

The mobile banking one of the most prominent key growth areas, and occupies the United Arab Emirates ranked third in the world in the field of adoption services, mobile banking, according to a recent study issued by the company "feed ABN SAP ", also owns the United Arab Emirates also one of the highest prevalence rates smartphones in the world, according to a report Google "mobile planet."

And provide "Omenks International" a range of solutions to help banking customers in the region with regard to risk management, business analysis and data security and mobility .

 

[moneysoon]

The technology exists. there is nothing stopping Iraq from entering into "fast times" and I'm not talking about High School but College. Their region is rich in many ways! They say they want to "lead the region" In many ways, they appear to be beginning to line up to become exactly what they aspire.

[rockfl9]

The technology exists. there is nothing stopping Iraq from entering into "fast times" and I'm not talking about High School but College. Their region is rich in many ways! They say they want to "lead the region" In many ways, they appear to be beginning to line up to become exactly what they aspire.

Actions speak louder than words....Where do you see things "lining up"??? With all the oil and gas they should have had 24/7 electricity 5 years ago. They dont.  They should be exporting refined petroleum products and plastics,. They arent.  I think they have the "Dutch Disease" and expect the distribution of oil income is all they want. All they announce are contracts with foreign companies and the need for foreign investors.

[staunch]

Actions speak louder than words....Where do you see things "lining up"??? With all the oil and gas they should have had 24/7 electricity 5 years ago. They dont.  They should be exporting refined petroleum products and plastics,. They arent.  I think they have the "Dutch Disease" and expect the distribution of oil income is all they want. All they announce are contracts with foreign companies and the need for foreign investors.

Unfortunately these are very valid points.

[moneysoon]

Actions speak louder than words....Where do you see things "lining up"??? With all the oil and gas they should have had 24/7 electricity 5 years ago. They dont.  They should be exporting refined petroleum products and plastics,. They arent.  I think they have the "Dutch Disease" and expect the distribution of oil income is all they want. All they announce are contracts with foreign companies and the need for foreign investors.

 

I see them over the last two years drafting policy and implementing policy albeit slowly. I believe the infrastructure items will initiate the "BOOM" they are looking to achieve. I am not sure why they are slow as they are except when you have been doing things the same way for millennia, one must be very careful that roll-outs come out seamless or the people will balk even if it is a good thing.

[TrinityeXchange]

corruption has hampered iraq's progress significantly for the longest of times.  corruption is so embedded in government that it will be difficult to root itself out because most everybody has dirty hands.  as far as this article goes, i do believe some banks in the middle east will progress to "smartest in the world" however i don't believe iraq will be a part of that club for quite some time.  that's just my lil' bit of 2c though.

[TBomb]

corruption has hampered iraq's progress significantly for the longest of times.  corruption is so embedded in government that it will be difficult to root itself out because most everybody has dirty hands.  as far as this article goes, i do believe some banks in the middle east will progress to "smartest in the world" however i don't believe iraq will be a part of that club for quite some time.  that's just my lil' bit of 2c though.

 

Trinity, I completely agree with you. I would like to add, for what it's worth, that Iraq is trying to diversify their private sector regulations, laws and also trying to assign private sector status to many govt institutions - in order to create non oil revenue streams, which contribute to this.  Also, the new GOI has been consistently trying to amend and pass investment laws (also) designed to attract / retain foreign investment. Since Jobouri came on board, I've seen two amendments uploaded to the gazette re investment. Obviously, with terrorist activity in the country and also Maliki's inexplicably horrible handling of every aspect of govt for the past 8 years, it's going to take some time to try to right these issues. 

Edited October 2, 2014 by TBomb

[gymrat76541]

WOW Why would you need "technology solutions to become electronically smartest in the world" for basicly currency that is worth a roll of toilet paper?

 

[skeetdog]

Thanks Yota...Iraq has had to overcome their biggest adversary from within. Maliki didn't want to see Iraq advance and has been looting everything he could steal that wasn't tied down and killing anybody that got in his way. I'd say from the advancements Iraq has achieved since Abadi's administration has had to settle in then start the wheels of unity before a central movement in the same direction with complete commitment to advance the lives of all Iraqi citizens for the betterment of Iraq as a whole and complete nation. Compare to the 8 chaotic years from the previous regime that forced both Sunni and Kurds to justify the reissuances of their participation in any form of the government. It's easy to view Iraq as not advancing in the last 8 years, forget about the last 2, if that's the surface depth your concerned with. There's a new Sheriff in town, it aint Wyatt Earp but then again we aint talkin' bout the ''Wild West''...      

[TrinityeXchange]

WOW Why would you need "technology solutions to become electronically smartest in the world" for basicly currency that is worth a roll of toilet paper?

gymrat i don't believe this article was focused on iraq as much as it was the big four in the mid east & africa: United Arab Emirates, Saudi Arabia, South Africa, and Turkey