Commercial Bank wins major accolade at Mastercard East Arabia Business Forum in Singapore
Commercial Bank, a leader in innovative banking solutions in Qatar, has received a major accolade at ‘Mastercard East Arabia Business Forum’ held in Singapore for its highest spend per account across the region on its Mastercard Limited Edition World Elite portfolio for the second year in a row.
The awarding ceremony was attended by Shahnawaz Rashid, executive general manager and head of Retail Banking of Commercial Bank, and Srikumar Chandrot, head of Cards Issuance, Products and Portfolio of Commercial Bank.
This key milestone reinforces Commercial Bank’s extensive leadership and growing stature in the cards sector and reflects its commitment to delivering exceptional value to customers in Qatar and the region. Over the past six months, Commercial Bank has achieved the highest spending levels and has outpaced local competitors in transaction volumes, solidifying its position as a market pioneer.
“As Commercial Bank stands at the crossroads of innovation and banking, we feel proud to receive these prestigious awards which embody our unwavering commitment to innovation, customer satisfaction, and market leadership,” said Rashid. “These accomplishments stand as a tribute to the dedication and hard work of our team, who consistently go above and beyond to provide exceptional value and service to our customers.”
Commercial Bank continues to redefine the banking landscape through innovation and customer-centric banking solutions in an increasingly digital-first world. The bank remains committed to providing best-in-class financial services to its customers, driving growth and prosperity in Qatar’s banking sector.
Rashid also took part in the exclusive panel discussion “Sparking Conversation: Can everyone be a winner in today’s ecosystem of traditional banks, challenger/digital banks, and fintech? How to make the most of co-opetition dynamics?” in Singapore Fintech Festival alongside EVP Products & Innovation, Asia Pacific, Mastercard, and a leading fintech CEO from the Gulf on the panel. Rashid shared Commercial Bank’s perspective on how traditional banks and fintechs can collaborate effectively, creating mutual value for customers while leveraging their unique strengths.
During the discussion, he shed light on the importance of collaboration between traditional banks and fintechs, stating that fintechs bring agility and digital innovation while traditional banks like Commercial Bank offer trust, stability, and comprehensive services built over decades. Together, they harness each other’s strengths to drive progress and innovation in the banking sector.
The panel also delved into the future of data-driven banking, discussing how banks can leverage comprehensive customer data across various touchpoints to deliver highly personalised financial experiences.
Rashid added valuable insights, emphasising the unique advantage banks hold in aggregating extensive data, enabling them to anticipate customer needs proactively and provide customised products and services that align closely with individual preferences.
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