The Banking Executive - Decemebr 2021, Issue 156

The First Banking Executive Online Conference 2021 knowledge about what works and what doesn’t in their daily opera- tions. 3. Design customer experience from the outside in. If the goal of DT is to improve customer satisfaction and intimacy, then any effort must be preceded by a diagnostic phase with in-depth input from customers. 4. Recognize employees’ fear of being replaced. When employees perceive that digital transforma- tion could threaten their jobs, they may consciously or uncon- sciously resist the changes. If the digital transformation then turns out to be ineffective, manage- ment will eventually abandon the effort and their jobs will be saved (or so the thinking goes). It is crit- ical for leaders to recognize those fears and to emphasize that the digital transformation process is an opportunity for employees to upgrade their expertise to suit the marketplace of the future. 5. Bring Silicon Valley start-up cul- ture inside. Silicon Valley start- ups are known for their agile decision making, rapid prototyp- ing and flat structures. The process of digital transformation is inherently uncertain: changes need to be made provisionally and then adjusted; decisions need to be made quickly; and groups from all over the organization need to get involved. III. LAWS AND REGULATIONS 1. Regulation is rising on the risk radar 2. Regulating Financial Risks 3. Regulating Non-Financial Risks 4. AML Regulations 5. Financial Reporting 6. Laws and Regulations and the cost of Compliance 7. Laws and Regulations in the Dig- ital Age 8. Laws and Regulations and the Competitive Environment 9. Laws and Regulations and the cost of operations. CONFERENCE PROCEEDINGS Inauguration On Thursday April 15th, 2021 at 11:00 Beirut time, the “First Banking Executive Online Conference 2021” commenced by an introductory video about the World Union of Arab Banks. Mr. Wissam H. Fattouh, Secretary General, Union of Arab Banks and World Union of Arab Banker wel- comed the participants in his inaugu- ration speech and explained the im- portance of the conference and the role it aims to play as a platform to share and exchange knowledge and discuss the latest developments the economy and banking sector is wit- nessing. Dr. Joseph Torbey, Chairman, World Union of Arab Bankers, and Chair- man of the Executive Committee, Union of Arab Banks, had a wel- come speech, greeting the partici- pants and highlighting the main effects and repercussions of Covid- 19 pandemic on the global economy and the economies of the MENA re- gion. Dr. Torbey then discussed the status of digital transformation and the huge leaps it has achieved espe- cially during the pandemic and role it is playing in financial inclusion. However, Dr. Torbey emphasized that laws and regulation should de- velop rapidly to keep up the pace with the advancements in financial technology therefore creating oppor- tunities to banks, supervisory bodies and clients as well. Sessions World Economy amidst the Pan- demic • H.E. Mrs Kholoud El-Saqqaf, Chair- man, Social Security Investment Fund - Jordan Digital Transformation – Roadmap to Implementation • Dr. Leila Dagher, Associate Profes- sor of Economics and the Director of the Institute of Financial Eco- nomics, American University of Beirut (AUB) • Dr. Mohammad Fheili, Risk Strate- gist and Capacity Building Expert Modernization of Financial Laws and Regulations • Mr. Chahdan E. Jebeyli, Group Chief Legal & Compliance Officer, Bank Audi Group • Dr. Mohamad Hussein Mansour, Consultant at the World Bank Group, Director of the European Middle East Institute for Research, Lecturer at AUB and LAU the BANKING EXECUTIVE 20 ISSUE 156 DECEMBER 2021