Commercial Bank shows its support for Qatar's economic diversification journey in the latest issue of World Finance magazine

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LONDON, Dec. 18, 2023 /PRNewswire/ -- The historic 2022 FIFA World Cup marked the start of an exciting new phase of development for Qatar. The tournament showcased a vibrant, contemporary Qatar to the world, with visitors from across the globe experiencing the nation's unique blend of ancient tradition and cutting-edge modernity. Now, one year on from the landmark event, Qatar is looking to build on the tournament's many successes.

In the latest issue of World Finance, Omar Alfardan, Managing Director at Doha-based Commercial Bank, explains how economic diversification is key to the nation's future development plans. While oil and gas remain a cornerstone of the Qatari economy, Alfardan tells World Finance that the nation's long-term economic strategy will focus on sustainable development, growing the private sector and promoting innovation and entrepreneurship. As the nation races ahead with its diversification efforts, the banking industry will play a central role in achieving these development goals.

"Supporting the next stage of Qatar's economic journey is a priority for Commercial Bank, and we believe that the banking sector can play a pivotal role in this endeavour," Alfardan tells World Finance. "By facilitating investment, empowering SMEs, embracing digital transformation, promoting sustainability and fostering collaboration, we aim to be a catalyst for economic growth, innovation and prosperity in Qatar."

Qatar may have already established itself as a world leader when it comes to technology adoption and innovation, but it has no plans to rest on its digital laurels. Innovation is central to the country's National Vision development strategy, and Commercial Bank is dedicated to helping its customers to reach their digital goals.

Alongside its mobile payment solutions and biometric authentication options, Commercial Bank's technology has also enabled the first cashierless check-out system in Qatar ? demonstrating the firm's commitment to pioneering new digital solutions.

Commercial Bank's industry-leading digital strategy has earned it a number of awards in recent years, including being named the 'Most Innovative Bank' in the Middle East by World Finance.

To find out more about Commercial Bank and its efforts to support Qatar through the next stage of its economic journey, pick up a copy of the Winter 2023-24 edition of World Finance magazine, available in print, on tablet and online now.

World News Media, the parent company of World Finance, is a leading publisher of quality financial and business magazines, which enjoys a global distribution network that includes subscriber lists of prominent decision-makers around the world.

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Richard Willcox
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