Dec 2017

Our CEO Esam Alkheshnam joins the WIBC

The World Islamic Banking Conference 2017 (WIBC) brought together leaders from the fields of Islamic Banking, Financial institutions, and Information technology industry to discuss the topic of “Digital Banking- Harnessing Digital Technologies to Stay Competitive and Address Evolving Customer Preferences”. 

Esam Alkheshnam , Chief Executive Officer of International Turnkey Systems Group (ITS), recently joined the conference as a panelist to discuss the Islamic banking today challenges and the mechanism of the transformation to Digital Banking. 
Alkheshnam stated “For the past 24 years, World Islamic Banking Conference (WIBC) has grown its reputation as the most popular and prestigious brand in the global Islamic finance and banking industry. The conference has been on a continuous successful upward trend, creating and providing a robust industry platform, to help Islamic financial institutions benchmark against themselves and conventional players in the industry. 

Also, he added “The major challenge faced by Islamic banking is to sustain and maintain higher profit margins and ROEs because of stiff competition among Islamic banks and conventional players. For example, in the GCC international banks operate with Islamic window, but vice-versa is not true for Islamic banks.
Another challenge facing Islamic finance is the FinTech, where the investors today are targeting the new technologies as the digital transformation and OmniChannel for conventional banks and no interest from those investors on the Islamic Finance innovative solutions/ideas.  

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