The role of GCC banks in promoting regional economic growth

The role of GCC banks in promoting regional economic growth

For as long as people have existed, banking has existed, even in its most non-descript form. Prior to the first currencies being minted, merchants granting grain loans to farmers and traders transporting goods through various cities were touted as the first prototypes of banks.

The first proper bank too was no more than a series of vaults for people to store valuables in. Since then, banking worldwide has graduated from bullions in a vault to a plethora of financial products and offerings for consumers and corporate entities, nurtured and propelled by ingenuity, innovation and digitalisation.

GCC's banking landscape

The GCC's banking landscape is as diverse as it is sheer. On the heels of regulatory reforms, customer-centric approaches, consolidation, technological investments and omni-channel

approaches, the regional ecosystem in recent years has