Commercial Bank continued to consolidate its position as a leader in the financial sector, by winning a prestigious award at the MasterCard Middle East Business Forum held in Singapore. This honor came in recognition of the remarkable achievement of achieving the highest spending rate for the exclusive MasterCard World Elite card in the Middle East and North Africa region, for the second year in a row.
The award ceremony was attended by Shahnawaz Rashid, Executive General Manager and Head of Retail Banking at Commercial Bank, and Sreekumar Chandrut, Head of Card Issuance, Products and Wallet at Commercial Bank. This achievement reinforces Commercial Bank’s extensive leadership and growing position in the card sector, and is evidence of its commitment to providing exceptional value to customers in Qatar and the region. Over the past six months, the bank has demonstrated remarkable superiority by achieving unprecedented levels of spending, surpassing its closest local competitors in transaction volume, reaffirming its position as a market leader.
Rashid said: “As Commercial Bank stands at the crossroads where innovation and banking services meet, we feel extremely proud to have received these prestigious awards that embody our firm commitment to innovation, customer satisfaction and market leadership. These achievements are a testament to the dedication and hard work of our team, which does not hesitate to make all possible and impossible efforts to provide exceptional value and service to our customers.”
Commercial Bank continues to restructure the banking landscape through innovation and customer-centric banking solutions in an increasingly digital world. The bank remains committed to providing the best financial services to its customers and driving growth and prosperity in the banking sector in the State of Qatar.
As part of the Singapore FinTech Festival, Shahnawaz participated in an exclusive discussion session entitled “Sparking the Dialogue: Can Everyone Win in the Current Ecosystem of Traditional Banks, Challenger/Digital Banks, and FinTech Companies?” How can we make the most of the dynamics of cooperation? He was joined in this session by the Executive Vice President of Products and Innovation in the Asia Pacific region at MasterCard and the CEO of one of the leading financial technology companies in the Gulf region. During the session, Shahnawaz presented Commercial Bank’s view on ways to achieve fruitful collaboration between traditional banks and fintech companies, creating mutual value for customers while leveraging their unique strengths. During the discussion, he stressed the importance of cooperation between traditional banks and fintech companies to exploit their strengths to drive progress and innovation in the banking sector, noting that fintech companies provide flexibility and digital innovation while traditional banks like Commercial Bank offer trust, stability and comprehensive services built over decades.
