The Covid-19 pandemic has led to a significant acceleration of digital transformation. This trend is especially apparent in financial services, where the health crisis prompted an overhaul of legacy processing systems and the widespread implementation of what are known as ABCD technologies – a catch-all term that encompasses artificial intelligence (AI) and automation,...
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Articles & Analysis | What new financial technologies emerged during the pandemic? from The Report: Sharjah 2021
Articles & Analysis | What is the post-pandemic future of global Islamic banking? from The Report: Sharjah 2021
While Islamic banks emerged relatively unscathed from the 2008 global financial crisis, Covid-19 is having a deeper impact. Compared to conventional financial institutions, Islamic banks are more exposed to small and medium-sized enterprises (SMEs), microfinance and retail lending – particularly in Asia. The industry was on track for strong growth in 2020, but due both to the...
Chapter | Financial Services from The Report: Sharjah 2021
Sharjah’s financial services sector has grown steadily over the years, due in part to its quick response to changes, including the rapid adoption of international best banking practices. The banking industry has expanded its digital services, particularly in response to the economic disruption caused by the Covid-19 pandemic, putting it in a good position for future growth as the world...
Sharjah has one of the most diversified economies in the UAE, with a strong foundation in industry and manufacturing. Approximately 95.8% of its economic activity was derived from non-oil sectors in 2019, positioning the emirate to absorb much of the impact of the Covid-19 pandemic.
Economic update | Report: What role will the sharia banking segment play in Qatar’s recovery?
8 Oct 2021
Amid the global economic downturn linked to the pandemic, Qatar was able to draw on its strong track record of fiscal surpluses and its robust sovereign credit rating to fund an integrated and effective policy response that alleviated the most severe pressures on vulnerable businesses and households, and maintained economic stability.
Economic update | Report: How Trinidad and Tobago's economy stands to benefit from the transition away from cash
28 Sep 2021
Despite the adoption of new technologies across a variety of industries prior to the pandemic, studies pointed to Trinidad and Tobago's dependence on cash as a significant factor limiting potential economic growth.