Mena banking sector poised for positive change

11 June 2024
This year's special report highlights the Mena Banking Excellence 2024 winners and provides insights into their winning strategies

Each year, MEED is proud to recognise advancements and innovations demonstrated by regional banks, redefining how financial services are delivered and experienced.

One of the key highlights of this year’s awards was the exceptional quality of nominations received. The level of excellence the nominees demonstrated was commendable, reflecting the dedication and innovation within the region’s banking and finance sector. The volume of entries received was unprecedented, indicating the growing significance and competitiveness of these awards.

One notable area of advancement in the region’s banking sector is the rapid adoption of digital banking solutions. With the rise of fintech startups and the ongoing digitisation efforts of traditional banks, customers now have access to convenient and secure digital banking services. Moreover, sustainable finance has emerged as a key focus area for banks. Recent years have witnessed the introduction of green financing initiatives such as sustainable bonds and loans to finance environmentally friendly projects and initiatives. 

Additionally, banks are increasingly integrating 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 sharia-compliant financial practices, Islamic banking has gained traction among both Muslim and non-Muslim customers seeking alternative banking solutions. 

In this year’s special report, we delve deeper into the banking and finance industry in the Middle East, exploring the latest trends, challenges and advances shaping the landscape. We have curated insightful content that not only highlights 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 advancements, it is clear the region’s banking sector is entering a new era of innovation and opportunity. With each passing day, banks are embracing technology, sustainability and inclusivity, driving positive change and economic growth across the region.

I would like to extend my heartfelt congratulations once again to all the winners of the Mena Banking Excellence Awards 2024. Your achievements are a testament to your hard work, dedication and vision. As we bid farewell to this year’s edition, let us eagerly anticipate the progress and successes that lie ahead in the sector, and eagerly await the next chapter of excellence in banking.

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

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