The Cooperative and Agricultural Credit Bank "CAC Bank" participated in Men Finance Transaction Banking Summit 2024, represented by the Acting Chairman of the Board of Directors and Chief Executive Officer Mr. Hashid Al-Hamdani, and Mr. Jihad Al-Hakimi, the Executive Vice Head for Investment and International Relations. The summit was held in the Saudi capital, Riyadh, with the participation of more than 30 thought leaders, economic experts, and more than 300 leaders in the banking, finance, and technology sectors.



Al-Hamdani explained that the summit's discussions will focus on a number of important economic topics, including the growth of banking transactions across the region, as this is of fundamental importance to the region's economies. In addition, it will try to answer a number of questions, such as the extent of expectations that banking transactions and payments can contribute to building a strong future for the countries of the region, how to mitigate risks in banking operations, and whether technology has become an obstacle or a facilitator in banking transactions, among other topics of mutual interest.



According to the organizing committee, the summit comes as many economies in the Middle East region are moving to pursue the path of growth and development, especially in the Gulf Cooperation Council countries and Yemen, and there is an urgent need for banking transaction services and facilities, which in itself poses a challenge, but it is also happening alongside the historic change in the regional banking system, where the application of technology and the use of artificial intelligence have become natural.



The economic summit derives its importance from its efforts to blend economies, as regional economies have now become largely driven by large and medium-sized companies that are trading more broadly with the availability of current communication options, in addition to cross-border initiatives, all of which aim to facilitate and accelerate payments.



In this regard, Men Finance Transaction Banking Summit brought together regional and national leaders from banks, companies, financial technology, and governments to address these issues in a program of highly interactive and substantive panel discussions.



On the other hand, the Cooperative and Agricultural Credit Bank "CAC Bank" held bilateral meetings with some other banks to discuss ways to enhance cooperation in various fields and how to overcome some of the procedures imposed in some banks as a result of the post-war situation in Yemen, and to move forward to increase the market share in the implementation of banking transactions between banks and CAC Bank.