Banking

Positive budget collection during the first seven months is thanks to economic recovery from late 2020 to June this year.

The seven major areas include finance, banking, and aviation industries.

Digital banking is a journey, not a destination.

Strong business results were thanks to sound performance in fields of real estate, natural resources, chemicals and services.

Digital transformation progress in eight priority fields under the national digital transformation initiative would be discussed at the event.

The rapid advancement of technologies in the banking sector should be accompanied with substantial changes in current legislation, said a banking expert.

A low-interest rate environment in long term could make capital available for other investment channels, so banks are under pressure to readjust their savings mobilization rates to better attract idle capital.

It seems a call from the central bank for credit institutions to forego their profits in 2020 to aid customers and businesses affected by the pandemic have not been effectively implemented.

As the government looks to push for public investment and the central bank keeps a low interest rate environment to aid economic growth, banks are expected to be the first beneficiaries from an economic rebound.

The banking sector is set to have a bright outlook in case the economy return to the uptrend growth.