The Digital Transformation in the Arab World
2 min
Digital transformation is a key element in the strategic planning of Arab countries focused on preparing for the future and achieving sustainable development based on economic prosperity, social enthusiasm, and distinguished national goals.
Strategic initiatives such as the ‘Saudi Vision 2030,’ ‘Egypt Vision 2030,’ ‘Jordan 2025,’ ‘Oman Vision 2040,’ ‘Morocco 2035,’ and ‘Kuwait 2035’ present a comprehensive and ambitious framework for implementing a wide range of projects in different sectors. However, these initiatives remain subject to continuous enhancement, showcasing their adaptability and capacity for evolution.
At its core, digital transformation refers to the integration and adoption of digital technologies across all work domains, fundamentally altering the operation of various sectors and the way they provide added value.
The Arab Vision for Digital Economy initiated in December 2018 in Abu Dhabi, significantly drove these digital transformation accomplishments, along with the establishment of the Arab Digital University. This comprehensive digital education and professional training platform aims to spread knowledge and science through emerging economies, covering the Middle East, North Africa, and West Africa, underscoring education as the foundational support for governments to construct a brighter future for their population.
However, a recent market report unveiled at the World Governments Summit 2024 highlights that one of the major barriers facing government employees is skill acquisition.
Some of the Arab initiatives’ details:
Saudi Vision 2030 emphasizes the important role of technology and innovation in stimulating economic growth and sectoral advancement, with the National Transformation Programme leading the charge in creating the necessary infrastructure and favourable environment for achieving sustainable economic development through digital innovation.
Digital Egypt initiative, launched in 2018, introduced the ‘Digital Egypt Services’ platform, integrating data from over 100 government databases and offering 170 fully automated services, alongside the Digital Egypt Vision for Cross-Border Services 2022-2026 to push sectoral growth.
Oman Vision 2040 identifies ICT as a key stimulant for economic sectors, backed by the National Programme for the Digital Economy, aimed at developing a robust digital economy contributing significantly to the GDP.
Jordan 2025 The Kingdom has crafted a digital transformation strategy aiming to successfully digitizing over half of its government services by 2025. The nation is on a mission to boost the digital sector’s GDP contribution from the current 9.5% to 15%.
Kuwait Vision 2035 underscores digital transformation, adopting smart technologies to enhance the service quality, economic growth, and life quality, alongside the “Masar” initiative to speed up government sector digital transformation.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
The agreement offers innovative and customer-centric solutions to CBD cardholders across all segments
3 min
Commercial Bank of Dubai (CBD), one of the leading banks in the United Arab Emirates, has announced an exclusive multi-year strategic partnership with Visa, a global leader in digital payments, for credit and debit cards. This partnership aims to enhance digital payment adoption in the UAE, offering innovative and customer-centric solutions to CBD cardholders across all segments.
The agreement was signed by Khaled Al Hammadi, General Manager of the Personal Banking Group at CBD, and Salima Gutieva, Visa’s Vice President and Country Manager for the UAE.
The signing ceremony was attended by Dr. Bernd van Linder, CEO of Commercial Bank of Dubai, and Andrew Torre, Visa’s Regional President for Central and Eastern Europe, the Middle East, and Africa.
As part of this partnership, CBD and Visa are also partnering to establish a ‘Centre of Excellence’ powered by Visa Consulting and Analytics (VCA), dedicated to accelerating and simplifying customer’s payment experiences. By leveraging core data assets and deriving insights, VCA will formulate actionable recommendations that aim to address business challenges and offer personalized solutions to customers. This collaborative approach will support CBD’s goals of market expansion, product design, customer acquisition, and engagement improvement, focusing on areas such as encouraging card usage through engaging and rewarding gamification, positioning CBD Visa cards as the top choice in digital wallets, enhancing cross-border transactions and payment speed, and expanding our footprint through strategic digital merchant collaborations.
Moreover, CBD and Visa are redefining the marketing landscape for the CBD card business through initiatives such as leveraging advanced technology to enhance digital customer onboarding experiences, sponsoring high-profile events like the Olympics, launching the Visa Instalment Solution in the UAE to introduce flexible payment options for our customers directly through Point-of-Sale (POS) machines, and offering comprehensive local and international benefits, focusing on the complete lifecycle of new and existing CBD Visa cardholders.
Dr. Bernd van Linder, Chief Executive Officer, Commercial Bank of Dubai, said, “We are excited to build on our partnership with Visa as we continue our mission in providing innovative and customer-centric payment solutions. The financial sector landscape is changing dramatically with technological disruption, emergence of new players, as well as constantly evolving customer expectations. Our collaboration with Visa will help us in developing new business models and providing more personalized customer offerings. At CBD, we are committed to playing a leading role in the digitization of the financial payments sector and introducing innovative financial solutions that meet our customers’ evolving needs and deliver seamless banking experiences.”
Khaled Al Hammadi, General Manager, Personal Banking Group at CBD, further added, “We are proud of this extended and strategic partnership with Visa. With Visa’s global expertise and CBD’s dedication to meeting the needs of our customers, we aim to provide a more seamless payment solution, delivering a variety of competitive and innovative features, products, and offers that are data-driven and are based on customer feedback. This includes recognizing and rewarding our customers, enhancing their banking experience, and delivering tangible benefits.”
Salima Gutieva, Visa’s VP and Country Manager for UAE, said, “We are delighted to expand our partnership with CBD with this exclusive multi-year partnership for their credit and debit portfolio. We will continue to work together to develop attractive products that deliver seamless, secure and rewarding experiences to the bank’s customers. CBD will be able to leverage Visa‘s industry-leading data and analytic capabilities to further drive innovation with personalized experiences for Visa cardholders. We also look forward to bringing value to local retailers and contribute to the UAE government’s efforts to grow the digital economy.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
