The National Bank of Dubai has joined the growing list of Middle East banks to offer Internet banking services. The UAE Today reports that this Emirate bank has just introduced its Internet-based banking service, which combines its NBD Homebank facility. This new service is aimed at the Bank's consumers and its business-to-business National Banklink operation.
This latest announcement follows a growing trend in the Middle East, a region where Internet banking is still in its infancy. The Financial Times noted that at present in the Arab world, e-banking technology is restricted to online banking via modems rather that online banking per se, and the language for communication is still English. Other notable Middle East banks that have recently established on-line schemes include the Bahraini al-Ahli Bank, Jordan's Arab Bank, the Egyptian American Bank, and the National Bank of Kuwait. Many of these financial institutions have forged alliances with foreign firms to develop their Internet banking software.
Representatives of most of the region's leading banks will be present at the "Internet Banking and E-Business in Financial Services" Conference, which will be held in Bahrain on May 29-30. According to the Bahrain Tribune, the forum's theme will be "Shaping the Future of Financial Services for Enhanced Performance in the Internet Age." The primary aim of this conference is to redefine business systems in the financial services sector. (albawaba.com staff)
© 2000 Mena Report (www.menareport.com)
