Doha Bank received THE BIZZ Award at THE BIZZ EUROPE 2019 event held in Amsterdam, May 13 and 14, 2019.
This award recognises the career and steady growth of leading companies. Doha Bank CEO Dr R Seetharaman said: “Doha Bank has built a reputation as an innovative bank in Qatar and has leveraged on technology to provide better solutions to its customers.” Seetharaman was honoured with the `World Leader in Finance’ award at the same function, which witnessed participation from diplomats from various countries. This award was given for his professional achievements in the finance sector in the region.
Seetharaman was also the keynote speaker at the event, where he shared insights on global scenarios. He said “According to IMF April 2019, global growth is now projected at 3.3 per cent for this year, whereas growth in advanced economies is projected at 1.8 per cent. The emerging market and developing economy group growth is expected to be at 4.4 per cent in 2019. A further escalation of trade tensions and the associated increases in policy uncertainty could further weaken growth. “
He also gave insights on sustainable development goals and the economy. He said: “G20 countries – which account for 85 per cent of global GDP and 80 per cent of CO2 emissions – should adopt a combination of pro-growth and pro-environment policies in developing their overall growth and development strategies. The top four emitters in global green emissions include China, the US, EU and India. Strengthen climate mitigation policies, including carbon pricing, fossil fuel subsidy reform, smart regulations and the use of public procurement to help drive low-carbon innovation. Scale up efforts to mobilise private investment in low-emission and climate resilient infrastructure through further efforts to green the finance system.”
Speaking on trends in technology, he said: “The fourth industrial revolution combines advanced technologies in innovative ways, dramatically reshaping the way people live, work and relate to one another. Various industries are getting redefined, the health sector can be reimagined, the work space is undergoing changes, robotics and artificial intelligence are going to play important roles and the customer will be more empowered in the digital environment.”
He added: “Banks need to manage the change by redefining their business models and to manage various stakeholders such as customers, regulator and shareholders. The question which comes up is how to we regulate technology companies. Customers are information-centric and not location-centric. To adapt to the digital changes, either you need to be quick or dead. Realignment of resources will happen in the light of technology developments.”
On cryptocurrencies, he stated currencies are a barometer of the economy and should not be a tool for speculation. Technology should be an enabler and not a medium for exchange. If cryptocurrencies are measured and managed within a framework, then it is acceptable.”