Digital innovation reinforcing business leadership

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At Commercial Bank, we have long been champions of digital innovation and technological progress. New technologies have radically reshaped the banking industry over the last two decades, but the current pace of change is simply unprecedented. Artificial Intelligence (AI) has opened the door to a host of new opportunities, allowing forward-thinking banks to enhance their customer experience offer, increase efficiencies and boost their global competitiveness.

Commercial Bank is proud to be an early adopter of advanced AI technologies, and our company-wide deployment of AI tools is helping us to positively transform our banking operations and customer engagement.

In 2019, Qatar launched its National AI Strategy, setting out a bold and comprehensive plan for unlocking the many opportunities that AI presents. The demand for AI-powered services has been growing rapidly in recent years – both in the banking industry and across the wider economy – fuelling strategic investments in Research and Development (R&D), upskilling and digital infrastructure.

By 2031, the Nation’s overall AI market is predicted to grow by 29 percent, reaching a value of $2.2bn. With strategic investments helping to support a thriving AI sector, Qatar is fast becoming a regional pioneer in digital innovation, with exciting real-world impacts for the banking world and beyond.

Leveraging technological momentum
Across the globe, AI is transforming industries, economies and societies, bringing countless opportunities to boost productivity, reduce costs, and drive innovative thinking.

The appetite for AI adoption appears to be particularly strong in Qatar. According to PwC, 90 percent of Qatar-based CEOs have reported integrating GenAI into their businesses over the last year, compared to 83 percent globally.

At Commercial Bank, we share this enthusiasm for harnessing the opportunities that new technologies can bring. Digital innovation is at the heart of everything we do – it defines how we design our products, deliver our services and enhance every customer interaction.

Investor appeal
With Qatar’s AI strategy advancing at a rapid pace, the Nation’s investment appeal also continues to grow. New technologies play a key role in creating Qatar’s dynamic and welcoming business environment, with the widespread adoption of AI tools helping to boost productivity and enhance the customer experience for investors with an interest in the region. Last year, Foreign Direct Investment (FDI) in Qatar surged by 110 percent to $2.7bn, reaffirming the Nation’s ability to attract high-quality investments into its key growth sectors.

Commercial Bank is playing its part in establishing Qatar as a dynamic destination for doing business

At Commercial Bank, we know that experienced, well-established businesses are key to building an attractive business environment for investors. We recognise that clients will have different needs and preferences, and have a diverse range of offerings to help our customers to bring their ideas into reality.

We will aim to work with both local and international stakeholders, offering expertise, connectivity and financial solutions that help to transform potential into tangible progress, ultimately contributing to investor success and to Qatar’s wider journey towards a more diversified and resilient economy.

Launched in 2008, the National Vision 2030 aims for Qatar to be an advanced state, capable of achieving sustainable development. In the years since its publication, Qatar has made significant strides in diversifying its economy away from natural gas, attracting new strategic investment and positioning itself as a world-class business hub. Its progressive business environment – supported by leading financial institutions like Commercial Bank – creates a fertile ground for investors seeking stability, innovation and meaningful partnership.

With investors increasingly looking to Qatar, FDI inflows are helping to fuel activity in the Nation’s high-growth sectors, including banking, AI, biotechnology and R&D. Aiming to build on this positive momentum, in May the Qatari government introduced a $1bn investment incentive programme, which aims to boost FDI investments into its priority sectors – demonstrating continued commitment to its diversification ambitions. By combining financial strength with seamless customer experiences, Commercial Bank is playing its part in establishing Qatar as a dynamic destination for doing business.

Along with enjoying growth in FDI, the Qatari economy is also reaping the benefits of a thriving and resilient financial services sector. Across the country, financial institutions such as Commercial Bank are financing transformative projects and supporting entrepreneurship, enabling the private sector to thrive.

Today, the banking sector’s contribution extends beyond traditional finance to areas that shape Qatar’s global identity, such as sports. As Qatar strengthens its position as a world-class sports destination and now pitches to host the Olympic Games, the banking sector provides strategic and financial backing to initiatives that enhance the Nation’s international standing and stimulate economic activity across multiple industries.

Banking on sustainability
Commercial Bank is proud to be playing a role in supporting Qatar’s transition to a sustainable and diversified economy. In a clear statement of ambition, the Nation recently launched a $2.5bn sovereign green bond, which will fund environmentally friendly projects such as renewable energy and low-carbon infrastructure. The move marks a significant step in bringing the environmental commitments of the National Vision 2030 to life, positioning Qatar as a regional leader in sustainable finance. Commercial Bank is actively supporting this transition and is setting a new standard for sustainability in the regional financial services sector.

Our Sustainable Finance Framework is enabling Commercial Bank to support projects that assist the transition to a low-carbon and climate-resilient economy, while also generating positive societal impact. Along with issuing green bonds, Commercial Bank is also proud to offer green home loan financing, and has partnered with MasterCard to give our customers access to the company’s Carbon Calculator – a tool that can estimate the carbon emissions generated by different purchases and spending habits. We have made a number of energy-efficient upgrades across the company that have significantly reduced our greenhouse gas emissions.

These changes have allowed Commercial Bank to successfully integrate environmental responsibility, social impact and strong governance into every facet of its business. We are pleased to say that these efforts have since been recognised with a number of prestigious awards, including the ‘Best Green Financing Initiative’ and ‘Sustainable and Green Bank of the Year in Qatar in 2024’ from the Asian Banker. By combining environmental responsibility with cutting-edge technologies and a customer-centric approach, Commercial Bank has positioned itself as a leader in the regional financial services sector, while also contributing to a resilient, diversified Qatari economy.