Doha Bank participated in the Sibos Conference in Geneva which was held from 26-29th September 2016. The theme for the 2016 conference programme at Sibos in Geneva is “Transforming the landscape”. It explored evolving payments and securities industry trends, the latest from the financial crime compliance world, innovation, opportunities and challenges in technology, disruptive competition and cultural shifts, as well other areas impacting the financial landscape.

On the Sidelines of the Sibos Conference on 26th Sept 2016, Dr. Seetharman, Doha Bank CEO addressed the Bankers and Public. He highlighted on Banking Business models. He said “In response to the crisis the Global regulatory reforms had been actively reviewed under the leadership of G20 countries in co-ordination with financial stability Board (FSB), International Monetary Fund (IMF) and Bank for International settlements (BIS).The Dodd–Frank Wall Street Reform and Consumer Protection Act in US implemented the regulatory reforms in response to the crisis. The Volcker’s Rule was enacted under this regulation to restrict proprietary trading. The SEC also proposed tougher disclosure rules for Hedge fund and private equity firms. FSB, IMF and BIS are working on macro-prudential policy frameworks, including tools to mitigate the impact of excessive capital flows. Policy framework for systemically important financial institutions, regulation and oversight of shadow banking, risk practices on structured products were some of the areas which required review in the light of current crisis. Basel 3 is also under implementation. The Banking Business model will be redefined on account of shift from de-regulation to re-regulation. Globalizaton, technology, consumerism and re- regulation were the key areas driving the change However technology is one of the key enablers of the Banking Industry. Given the regulatory environment and continued pressure on costs in the capital markets, financial institutions are more than ever considering how to collaborate in non-differentiating areas and utilise new technologies.”

Dr. R. Seetharaman gave insight on GCC reforms. He said “This year Saudi Arabia has unveiled its Vision 2030 roadmap with three key themes – a “vibrant society”, a “thriving economy” and an “ambitious nation. Saudi Arabia’s stock market regulator said it would ease rules for foreign investment on the bourse, as part of efforts to open its capital market under an economic diversification plan. In Dec 2013 The Qatar Central Bank (QCB), QFC Regulatory Authority (QFCRA) and Qatar Financial Markets Authority (QFMA) have jointly launched a strategic plan for the future of financial sector regulation in Qatar. In April 2015, the Qatar Central Bank (QCB) and the World Bank launched a technical cooperation program to further strengthen financial oversight in Qatar. GCC countries aim to introduce VAT from 1st January 2018.”

Dr. Seetharman highlighted on GCC & Qatar Banking Industry. He said “The asset growth in Qatar was close to 6% and lending growth was close to 7% till July 2016. The banking sector has a strong bond with the economic environment and, hence, is poised for multidimensional growth. A developing economy like Qatar requires considerable financing and so the growth opportunity for the financial sector is strong. However the fall in oil prices had impacted the liquidity in Banking sector this year. The deposit growth in Qatar was more than 5% till July 2016. Qatar Banks are also looking forward to leverage on innovations in technology for the benefit of its customer. Technology will also encourage remittances from the region. The provision of remittances through the GCC banking system improves financial inclusion as it leads to development of credit history for individuals. Cost of remittances in GCC can also be reduced through usage of technology and thereby encourage greater participation. On the whole the Banking business models are getting redefined through financial inclusion and re-regulation.”