Dubai – Mubasher: United Arab Emirates Banking Federation (UAEBF) on Monday hosted the Middle East Banking Forum, entitled “Leaders of innovation”, where discussions focused on the importance of innovation and creative thinking, and their roles in supporting progress, success and stability in the banking sector.
“We believe that we have the desire and willingness for innovation, beside the ability to apply it in the banking sector, which is important to maintain our business’ success and stability in the future,” UAEBF’s Chairman Abdul Aziz Al-Ghurair said.
Mubarak Rashid Khamis Al Mansouri, Governor of the Central Bank of the UAE, suggested that the main challenges facing the banking sector are the fall in the performance of the global economy and the drop in oil prices, which directly effect on the government revenues and its spending volume.
Scott Wells, General Manager of Singaporean Innovation Labs Asia and founder of MetLife Innovation Center, also explained the role that can be played by creative ideas in boosting success in financial services sector, and changing the traditional methods of businesses.
