Doha Bank to strengthen e-commerce platform
March 23 2022 09:43 PM
Sheikh Fahad bin Mohamed bin Jabor al-Thani, Doha Bank chairman, addressing shareholders at AGM.
Sheikh Fahad bin Mohamed bin Jabor al-Thani, Doha Bank chairman, addressing shareholders at AGM.

Doha Bank, which is strengthening its e-commerce platform, is considering automation, digitisation and innovation at the heart of its strategy in view of the rapid evolution to technological landscape.
"We will continue embracing emerging technologies to build customer-centric solutions. Moreover, our culture inspires empowerment, accountability and talent development, which along with our values will drive the bank’s progress towards a better future," the bank's board Wednesday informed shareholders at the annual general assembly meeting, which was presided over by Sheikh Fahad bin Mohamed bin Jabor al-Thani, Doha Bank chairman.
The meeting endorsed the board’s recommendation to distribute cash dividends of QR0.075 per share to the shareholders. The extraordinary general assembly saw shareholders’ approval for up to 100% foreign ownership limit in bank’s capital.
As the financial services industry stands at an inflection point, and several disruptive forces such as digitisation, competitive pressure, and fast evolving regulations are enforcing a bigger change; Doha Bank remains fully committed towards its customers, shareholders, people and larger society, according to the board.
Highlighting that the pandemic has created a pressing opportunity for the bank to speed up all initiatives on the digital transformation journey; it said the bank is upbeat on delivering digital services through all alternative channels.
There has been a 42% increase in financial transactions on digital channels during 2020-21, the board said, adding there has also been a “sizeable” increase in online penetration whereby the online transaction ratio increased from 63% to 74% for local funds transfer and from 29% to 45% for international funds transfer.
Speaking on the sidelines of the general assembly, Doha Bank group chief executive Dr R Seetharaman said digital banking is on the cards; but pending approval from the regulator.
"We are going to revamp the complete infrastructure," he said, adding the aim is to pass on the digital advantage to the customers.
Doha Bank has maintained its position as one of the key players in Qatar’s banking industry. This has been achieved through bank’s strategy, which encompass seven strategic guiding principles and 5R model, according to the board.
Doha Bank would continue focusing on customer experience enhancement, revenue optimisation and cost reduction opportunities.



There are no comments.

LEAVE A COMMENT Your email address will not be published. Required fields are marked*
MORE NEWS

HAPPENING IN DOHAMore