Dr . Arafat El Mourad discusses the changing face of the banking sector in the Middle East and the growing role of procurement
Banking is changing . As the world continues to embrace more and more technologies and innovation , this creates an ever growing and ever demanding customer base . With the rise of smart payments , shifting towards a completely digital experience , the financial sector has to change and evolve with this shifting world .
For Dr Arafat El Mourad , Author and Acting Head of Procurement and Contracts , Xbank , this evolution should be a process that avoids the somewhat cliché term of “ digital transformation ” that is bandied around the industry so frequently .
“ It ’ s not just technology . You can have the best technology in the world but if you don ’ t have the right mindset , the right people driving that innovation , it simply will not work ,” he says . As per his published book ( Innovation in Procurement and its added value to United Arab Emirates Banking Sector , Islamic & Conventional ) El Mourad says that in procurement you need the right people and you need communication , transparency , reliability , skilled and competent staff , quality
192 February 2018