News, Software

Commercial Bank ‘Qatar’s first’ to adopt Blockchain

Commercial Bank of Qatar
Commercial Bank of Qatar

Qatar’s Commercial Bank is set to roll out new digital features, having opened its latest state-of-the-art branch at Mall of Qatar, providing full-fledged personal banking and ATM services.

Bank officials formally inaugurated the new branch during a public launch ceremony attended by chairman Sheikh Abdullah bin Ali bin Jabor Al Thani; vice-chairman Hussain Ibrahim Al Fardan; managing director Omar Hussain Al Fardan; CEO Joseph Abraham and a number of dignitaries and VIPs.

The bank has also begun testing blockchain technology, becoming the first bank to do so in the country.
“We are the first bank in Qatar to actually pilot this Blockchain approach,” Abraham told The Peninsula.
He added that a range of other technologies were on the horizon for Commercial Bank. “We need to get approval to have the system in full pace,” he said. “However, this will be the foundation for further technology growth in the sector. We also will be introducing contactless cards and mobile wallets with full range of customer offerings, which will help provide convenience to the customers over the next 6 months.”
Meanwhile, the bank is focusing on training young people modern technology to its customers. “We have made significant investments in training and development for the youth, who are offered roles right within the bank. Once they join they are given training and development. We have young students who are good with computers and technology, and as we move towards a digital world, we give them assignments to help our customers migrate to our mobile applications.”

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