His Excellency Dr. Ahmed bin Abdulkarim Alkholifey, Governor of the Saudi Arabian Monetary Agency (SAMA) has honored the welcome ceremony, exhibition and forum held by ABANA Enterprises Group Co. to mark the 40th anniversary of its establishment.
The celebration was also graced by the attendance of SAMA's Deputy Governor for Banking Operations, Mr. Hashem Alhekail and Chief Executive Officer of Saudi Telecom Company (STC) as well as many other CEOs in the Kingdom of Saudi Arabia’s banking and financial sector.
During the celebration, ABANA showcased the latest technology that would make a significant leap in services of consumer banking in the Kingdom of Saudi Arabia.
On the occasion, Mr. Abdullah bin Mohammed bin Jebreen, the Chief Executive Officer of ABANA, made a statement in which he said that SAMA is leading a number of programs and initiatives aligned with the Kingdom’s Vision 2030 to activate the role of the private sector in improving the performance of the banking sector as well as in developing the services provided to citizens and residents through the development of cash centers and allowing local companies to invest in and operate them as well as the development of the operational performance of ATMs in terms of technical and security aspects in addition to SAMA’s current initiatives to issue a digital currency to be exclusively traded among banks as a pilot project, proving SAMA’s deep understanding of the financial and technical developments in the financial industry.
He added that ABANA has been keen to develop many products and services and carry out innovative projects as well as the development of applications and software for banking devices, pointing out that the company has achieved 44% of the localization of jobs and will reach 50% by the end of this year and 100% in cash centers.
He concluded his statement by saying that the Company's digital transformation program will be finished in the first quarter of 2018.
During the forum in the celebration, Softbank's vision was reviewed and how it is aligned with the Kingdom’s Vision 2030, which looks first and foremost the future at the perspective of creating a new and knowledge-based economy to be less dependent on oil revenues.
Moreover, the latest developments in the technology of self-service machines for bank customers and technology trends for future service development were presented by the Vice President of NCR Corporation, which announced its strategic partnership with ABANA.