Saudi banking keystone for regional, international growth
(MENAFN) The Saudi banking program has become a keystone for the sector in the area but the nation requests to concentrate additionally on worldwide growth, as shown by a sector specialist.
The nation has experienced a process of modernization at a very quick pace, which “is a good thing,” George Kanaan, the chief executive of the London-located Arab Bankers Association, informed Arab News, and having a coherent vision to operate within is very crucial.
“You really cannot run a country, or create progress in a country, without having a vision as to where you want to see that country be, and the need for reforms is great,” he stated.
Kanaan, a Harvard graduate who has operated in New York, Athens, Saudi Arabia as well as Chicago, stated that the nation’s banking system is progressively expanding in sophistication and becoming additionally dependent on domestic talent, but there is still a lot of prospect for expansion, mainly in the global arena.
“The Saudi banking system, given what Saudi Arabia is all about, needs to become more globalized,” he stated. “It could become the dominant banking system in the Middle East, generally, given its resources and its expertise right now, but it should go beyond the Middle East.”
The nation has experienced a process of modernization at a very quick pace, which “is a good thing,” George Kanaan, the chief executive of the London-located Arab Bankers Association, informed Arab News, and having a coherent vision to operate within is very crucial.
“You really cannot run a country, or create progress in a country, without having a vision as to where you want to see that country be, and the need for reforms is great,” he stated.
Kanaan, a Harvard graduate who has operated in New York, Athens, Saudi Arabia as well as Chicago, stated that the nation’s banking system is progressively expanding in sophistication and becoming additionally dependent on domestic talent, but there is still a lot of prospect for expansion, mainly in the global arena.
“The Saudi banking system, given what Saudi Arabia is all about, needs to become more globalized,” he stated. “It could become the dominant banking system in the Middle East, generally, given its resources and its expertise right now, but it should go beyond the Middle East.”
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