Doha Bank Q P S C : Transformational Leadership is the Key to Achieve Excellence in Banking and Finance

Transformational Leadership is the Key to Achieve Excellence in Banking and Finance

The World Confederation of Business hosted a virtual webinar on the theme 'Achieving Excellence in Practicing Banking and Finance ' on 8th July 2021. Dr. R. Seetharaman, CEO of Doha Bank was one of the participants in the event.

Dr. R. Seetharaman, CEO of Doha Bank said, ' In order to achieve 'Excellence in Practicing Finance & Banking ' I focused on multiple dimensions such as Economic outlooks, Risk & Governance, leveraging Technology, creating sustainable post- pandemic world, environmental, social and Governance framework and managing Stakeholder expectations as part of 'Transformational Leadership'.

Dr. R. Seetharaman, spoke on Global & Qatar economy. He said 'According to World Bank June 2021, the Global economy expected to grow by 5.6% in 2021. The Advanced economies are expected to grow by 5.4% in 2021 and Emerging Market and Developing economies are expected to grow by 6% in 2021. In the recent Fed meeting it has indicated at least 2 interest rate hikes in 2023. World merchandise trade volume is expected to increase by 8.0% in 2021 after falling 5.3% in 2020.According to IMF April 2021, Qatar economy expected to grow by 2.4% in 2021. The Banking sector witnessed a lending growth of more than 7.5% in first 5 months of 2021.'

Dr. R. Seetharaman highlighted the developments pertaining to technology. He said' The fourth industrial revolution combines advanced technologies in innovative ways, dramatically reshaping the way people live, work and relate to one another. Various industries are getting redefined, the health sector can be reimagined, the work space is undergoing changes, robotics and artificial intelligence are going to play important roles and the customer will be more empowered in the digital environment. Banks need to manage the change by redefining their business models and to manage various stake holders such as customers, regulator and shareholders. Customers are information centric and not location centric. To adopt to the digital changes either you need to be quick or dead. Realignment of resources will happen in the light of technology development.'

Dr. R. Seetharaman gave insight on developments pertaining to sustainable development. He said 'Doha Bank advocates and practices green banking, which is one of the core business philosophies that will support sustainability into the future. Banks should align lending activities with environmental cause. They should develop environmental and social-risk management and expand the scope of risk management to include social and environment risk also. Public-private-partnership (PPP) models can potentially address the challenges posed by climate change and there should be policies to attract private sector investment. Our sustainability reporting is guided by the Qatar Stock Exchange (QSE) ESG reporting methodology since 2016.'

Dr. R. Seetharaman spoke on 5R Strategy. He said 'In the wake of the coronavirus pandemic, Doha Bank has developed a 5R's strategy model to focus on the Bank's response in the short term. The 5Rs stand for rationalization, revenue enhancement, restructuring, remedial management and remodeling of business.'

Dr. R. Seetharaman highlighted the qualities of a transformational leader. He said 'Understanding Changing Business trends, Understanding Changing technology trends, Leveraging on technology trends, staying competitive, giving back to society and managing stakeholder expectations.'