Archive for the ‘Middle East’ Category
Global electronic payment volumes to double by 2010
In a study, designed to provide banks, payment processors and retailers with a road map for the next decade to help plan their payments business strategies, its indicated payments will double worldwide by 2010, but the details are more interesting.
Finextra: Global electronic payment volumes to double by 2010
The annual number of electronic payment transactions, currently at approximately 210 billion worldwide, are expected to double by the end of the decade, according to research released by ACI Worldwide.
The individual markets of different growth profiles:
The Eastern Europe and Asia/Pacific regions are forecast to lead the world in electronic payment transaction growth, predicted at 21.6% and 19.2% respectively, for the period of 2004 to 2009.Other regions including the Middle East, are forecast to increase 15.9% and NAFTA (North American Free Trade Alliance) expected to grow 12.3%.
During the five-year period from 2004 to 2009, forecast volumes are expected to double across the world, with China and India doubling more quickly at a rate of every three and four years, respectively.
Relevance to Bankwatch: Background for development of payments strategy.ACIStudy.pdf
Technorati Tags: payments bankwatch_relevance_strategy
e-Banking holds key to future growth of Mid East banking sector
Middle East Banks have been lagging in their adoption of electronic channels, for a variety of reasons, but now that internet is taking hold there, online banking is a key component in their channels strategies.
e-Banking holds key to future growth of Mid East banking sector
The strategic approach for many of the region’s banks has always been to offer unique products and services that maintain their competitive edge, but in the technology driven global market, the participation of IT is absolutely essential.Chief Information Officers (CIO) are now being empowered to develop new strategies regarding how technology runs daily transactions and employing solutions that will enable the individual banks to process them faster and more cost-effectively.
Islamic banking – a new growth market?
Two new funds in the UK promoting something that is already big bsuinesss in the middle east, but this is in the UK.
Given the growing muslim population within UK, France, Belgium this could be a new growth sector.
Sharia safe investing – PSD Blog – The World Bank Group – Private Sector Development
Two new funds in the UK hope to have found an answer by offering capital funding that complies with Islamic sharia law. As reported in the latest issue of Clear Profit (pdf)
