Commercial Bank, a leader in Qatar’s banking sector, has received a prestigious accolade at the Mastercard East Arabia Business Forum in Singapore. The bank was recognized for achieving the highest spend per account across the region on its Mastercard Limited Edition World Elite portfolio, marking the second consecutive year of this accomplishment.
The award ceremony was attended by Shahnawaz Rashid, Executive General Manager and Head of Retail Banking, and Srikumar Chandrot, Head of Cards Issuance, Products, and Portfolio at Commercial Bank.
This recognition highlights Commercial Bank’s leadership in the cards sector and its commitment to delivering exceptional value to its customers in Qatar and beyond. Over the last six months, the bank has maintained the highest transaction volumes and spending levels, surpassing local competitors and solidifying its position as a market pioneer.
Speaking on the occasion, Rashid expressed pride in the bank’s achievements:
“These prestigious awards embody our unwavering commitment to innovation, customer satisfaction, and market leadership. They reflect the dedication and hard work of our team, who consistently strive to provide exceptional value and service to our customers.”
A Leader in Innovation and Collaboration
Commercial Bank has been at the forefront of redefining banking through customer-centric, innovative solutions. The bank continues to drive growth in Qatar’s banking sector by embracing a digital-first approach and focusing on personalized financial services.
Rashid also participated in a panel discussion during the Singapore Fintech Festival, titled “Sparking Conversation: Can everyone be a winner in today’s ecosystem of traditional banks, challenger/digital banks, and fintech?” The panel featured prominent industry leaders, including Mastercard’s Executive Vice President for Products & Innovation in Asia Pacific and a leading fintech CEO from the Gulf.
During the discussion, Rashid emphasized the need for collaboration between traditional banks and fintech companies. He highlighted that fintechs bring agility and innovation, while established banks like Commercial Bank provide trust, stability, and comprehensive services built over decades. This synergy, he argued, can drive significant progress and innovation in the financial sector.
The panel also explored the future of data-driven banking. Rashid noted the critical role of data aggregation in delivering highly personalized financial experiences.
“Banks have a unique advantage in leveraging extensive customer data to proactively anticipate needs and offer customized products that align closely with individual preferences,” he explained.
This latest recognition underscores Commercial Bank’s pivotal role in shaping the future of banking in Qatar and the region, cementing its reputation as an industry leader in innovation and excellence.
