Leading banks in the Middle East were recognised at the annual TAB Global Middle East Awards Ceremony 2024 in Dubai on 21 November 2024, namely: Kuwait Finance House as the Best Retail Bank in Kuwait, Commercial Bank of Qatar as the Sustainable and Green Bank of the Year in Qatar, and BSF as the Best Trade Finance Bank in the Kingdom of Saudi Arabia.

Meanwhile, Pedro Sousa Cardoso, Chief Digital Officer of Emirates NBD, was recognised as the Chief Digital Officer of the Year in the Middle East as part of the Financial Technology Leadership Achievement Award in the Middle East.

Additionally, Saudi Awwal Bank, Commercial Bank of Dubai, and Bahrain Development Bank were recognised for Best BI and Data Analytics Implementation, Best Anti-Money Laundering Technology Implementation and Best Mobile Banking Technology Implementation, and Best Employee Engagement Programme, respectively.

Kuwait Finance House (KFH) was named Best Retail Bank in Kuwait for focusing on customer-centric products and substantial digital investments. In 2023, KFH became the largest retail bank in the country through the merger with Ahli United Bank, generating combined retail banking revenue of KD471 million ($1.5 billion). The bank also expanded its personal finance book by 32% year-on-year, while its fixed deposits portfolio grew by 15%. Its digital services, including the launch of TAM Digital Bank, provide end-to-end solutions, such as digital signatures and AI-enhanced credit processes.

Commercial Bank of Qatar (CBQ) was awarded Sustainable and Green Bank of the Year in Qatar for integrating environmental, social, and governance (ESG) principles across its operations. In September 2024, it issued a $260 million green bond to fund projects in sustainable water management, green buildings, and clean transportation. These efforts improved the bank’s rating in the Morgan Stanley Capital International (MSCI) ESG index from B to A. The bank also aims to cut Scope 1 and 2 green house gas emissions by 25% by 2030, from 2021 levels. The bank was also recognised for Best Green Financing Initiative by introducing green vehicle and green mortgage loans to support eco-friendly initiatives in Qatar’s transport and real estate sectors.

BSF was recognised as the Best Trade Finance Bank in the Kingdom of Saudi Arabia for expanding its non-oil export corporate client base through better segmentation and structured financial solutions. Partnering with sovereign and multilateral financial institutions, the bank improved access to funding and offered favourable credit terms for high-risk and emerging markets. These initiatives led to an 18% increase in new trade finance customers and over 10% year-on-year revenue growth in 2023.

Pedro Sousa Cardoso, Chief Digital Officer, Retail Banking & Wealth Management, at Emirates NBD was awarded the Chief Digital Officer of the Year in the Middle East, as part of the Financial Technology Leadership Achievement Award in the Middle East. He led the restructuring of Emirates NBD’s digital operating model by spearheading a multi-year digital acceleration programme focused on retail banking and wealth management. He aligned distribution models with evolving customer needs, while also expanding the bank’s digital presence in the region. At the same time, he supported Emirates NBD’s transition to a cloud-native infrastructure, enhancing operational efficiency and enabling seamless integration with fintech solutions.

In financial technology innovation, Commercial Bank of Dubai was awarded for Best Anti-Money Laundering Technology and Best Mobile Banking Technology Implementation. The bank implemented an artificial intelligence (AI)-based anti-money laundering (AML) and fraud detection platform. With real-time transaction monitoring, a dynamic rules engine, and a cloud native architecture, the system ensured a reported 100% regulatory compliance. CBD also implemented a mobile banking platform with cross-platform compatibility, cloud native infrastructure, microservices architecture, biometric authentication, and AI-driven personalisation. With 206 services and 78 features on mobile banking, it achieved 90% mobile adoption and 80% mobile banking interactions.

Saudi Awwal Bank was recognised for Best BI and Data Analytics Implementation. Its business intelligence and analytics framework empowers decision-making with predictive insights. With over 40 use cases and 19 interactive dashboards, the bank achieved 25% growth in personal finance product and 12% growth in card product penetration.

Bahrain Development Bank was awarded the Best Employee Engagement Programme for its effective engagement initiatives, including culture transformation, comprehensive training, and streamlined organisational structures. It achieved a notable increase in its Employee Engagement score from 4.02 in 2022 to 4.20 in 2023. The programme included training for all employees via the Lumofy platform, achieving an 83% active usage rate over a three-month period.

The TAB Global Middle East Awards 2024 programme is highly respected for its rigorous and transparent selection process. The programme assesses and recognises financial institutions for excellence in vision, execution, and market-leading services in retail finance, technology innovation, green and sustainable finance, risk management, and transaction banking.

For more information about The MEA Awards Programme, please visit.