Arab Banks Awards & Commendations of Excellence 2023: A Celebration of Banking Prowess and Innovation
A Tradition of Excellence
In the heart of Istanbul, on a vibrant October evening, the “Arab Banks Awards & Commendations of Excellence 2023” unfolded with grandeur and anticipation. This event, hosted by ‘The Banking Executive’ magazine of the World Union of Arab Bankers (WUAB), marked its ninth consecutive year of honoring the remarkable achievements and innovations in the Arab banking and financial sector. The ceremony is more than an event; it’s a yearly tradition that encapsulates the spirit of excellence and the relentless pursuit of innovation in Arab banking.
A Gathering of Esteemed Leaders
The prestigious awards ceremony was held at the iconic InterContinental Istanbul Hotel. This venue became a melting pot of high-caliber Arab and Turkish banking leaders, renowned personalities, and officials from regulatory institutions and international bodies. The gathering wasn’t just a celebration but a powerful networking event fostering dialogue, sharing insights, and building enduring partnerships across the banking community.
The Selection Process: Celebrating the Best
Central to the event’s prestige is its rigorous selection process. A distinguished committee of economists, banking professionals, and the adept research department of the Union of Arab Banks and the World Union of Arab Bankers undertook the daunting task of evaluating nominees. This meticulous process, based on stringent criteria, ensures that the awards reflect genuine excellence and innovation in banking and financial practices, leadership, and strategy.
Spotlight on Achievements and Innovations
Each award was carefully curated to recognize different facets of excellence, ranging from innovative product development to sustainable banking practices and exemplary leadership in challenging economic climates. The ceremony highlighted individual success stories, providing a platform for sharing innovative ideas and strategies that have positively impacted the Arab banking sector.
Profiles of Excellence: Stories of Leaders and Innovators
Special segments of the ceremony were dedicated to profiling the achievements of individual banking leaders and institutions. These profiles served not only as recognition but also as inspirational narratives for the audience. They highlighted the resilience, ingenuity, and foresight of leaders who have navigated complex challenges to steer their institutions towards growth and success.
Dr. Wissam Fattouh, Secretary General, World Union of Arab Bankers & Union of Arab Banks
Dr. Wissam Fattouh extended a warm welcome to all attendees. His address commenced amid a period marked by solemnity and concern for the region, particularly focusing on the tragic events unfolding in Palestine. Dr. Fattouh underscored the imperative of continuing work and dialogue as crucial responses to current challenges, adamantly opposing any halt in progress and intellectual exchange.
Dr. Fattouh expressed profound appreciation to the Republic of Turkey and the Turkish Banking Association for their unwavering support of Arab causes, especially during such turbulent times. He lauded their pivotal role in enhancing Arab-Turkish banking relations and their substantial contributions to the exchange of expertise and experiences.
Addressing esteemed guests, including the Secretary General of the Turkish Banking Association and delegates from various Arab nations, Dr. Fattouh acknowledged the annual gathering as a vital platform for celebrating remarkable achievements in the banking sector. He commended the awardees for their dedicated services in banking, particularly their efforts in promoting Arab-international banking and trade collaboration.
Dr. Fattouh conveyed his gratitude for the audience’s engagement and support in the endeavors of the World Union of Arab Bankers, established in Morocco in 2006. He emphasized the Union’s contribution to enhancing the competencies of Arab bankers and the importance of preparing for future challenges and innovations in the banking industry.
Concluding his speech, Dr. Fattouh reaffirmed his solidarity with the people of Palestine, denouncing the injustices they have faced. He extended his best wishes for continued success and distinction to the honorees and expressed sincere thanks to all participants for their active involvement and commitment to fostering a resilient and cooperative banking community.
Mr. Mohammed El Etreby, Chairman, Union of Arab Banks
Mr. El Etreby opened his address by emphasizing the World Union of Arab Bankers’ pivotal role in bolstering the Arab economy and fostering sustainable development across the region. This annual event serves as a platform to recognize individuals who have made significant contributions in these sectors.
Expressing his delight at hosting this prestigious gathering in Istanbul, Mr. El Etreby underlined the deep-rooted cultural, economic, and banking relationships between Arab countries and Turkey. He specifically noted the remarkable growth in Arab-Turkish relations, particularly highlighting the economic and financial domains. This evolving partnership was evidenced by a substantial increase in trade volume, which impressively reached $66.1 billion in 2022.
Delving into the core of Arab economic growth, Mr. El Etreby shed light on the indispensable role of Arab banks. He stressed their status as fundamental pillars of the Arab economy. His speech took a forward-looking approach, focusing on the urgent need to transition towards a digital economy and the enhancement of banking services. In a striking revelation, he mentioned that the combined assets of Arab banks have reached approximately 4.5 trillion dollars, a figure that represents a significant slice of the Arab gross domestic product.
The speech culminated with Mr. El Etreby extending his heartfelt gratitude to the honorees for their invaluable contributions to the Arab economy. He congratulated them on their achievements and expressed sincere thanks to Turkey for its hospitality and for successfully hosting the event. Looking to the future, Mr. El Etreby reaffirmed his commitment to deepening Arab-Turkish relations, with a special focus on the financial and banking sectors.
To view the pictures during the awards distribution, Kindly click here