Mohammed Kateeb speaks at Bait Al-Mashura’s webinar
Qatar-based Bait Al-Mashura announced the launch of its first webinar, which is part of a series of professional webinars scheduled between September & November 2021 in cooperation with Path Solutions, the leader in Islamic financial technology. ‘Voyaging Sustainable Financial Innovation in Times of Technology’ was presented by Mohammed Kateeb, the Group Chairman & CEO of Path Solutions on September 30, and moderated by Mughees Shaukat, Islamic Banking Advisor at Bank Nizwa, Oman.
Kateeb spoke about the relationship between Islamic finance and Artificial Intelligence, and how AI is a big game changer in the industry. Most of the banks in the future will become depositaries of data instead of flat currency, so the more data they manage the bigger they will be and will gain more control in the future. There is no doubt about the benefits that fintech brings to the banking and financial services industry, not only for conventional but also for Islamic financial institutions. It will improve the competitiveness of all entities, reducing costs and fraud and automatizing processes, with robo-advisory, blockchain and smart contracts, creating a new, transparent and faster way of banking.
During this two-hour conversation, Kateeb emphasized on the fact that technology and AI can help reverse global warming. According to him, robots are needed to plant trees, or we could fix climate change by building machines to extract CO2 and take the planet back to the pre-industrial age. AI will have a transformative impact across every industry. From streamlining operations to making better-informed decisions and leading a healthy lifestyle, it has become clear that this technology has the potential to truly revolutionize how the everyday world works.
In case you missed our live webinar, you can now access the full session recording here: https://www.youtube.com/watch?v=GXE7ic-QDhg