The most transformed Islamic bank in Qatar 2023: Dukhan Bank
Few banks take the phrase 'digital transformation' more seriously than Dukhan Bank.
This year saw the launch of an artificial intelligence-powered, multi-channel virtual assistant that has transformed the bank’s interactions with customers. Named Rashid, this market first responds to customer questions and service needs instantly using English and Arabic.
As well as locating the nearest Dukhan branch, ATM or bank-affiliated merchant using advanced geolocation technology, users can access details of bank products and services, connect with a live customer-service agent and check foreign currency exchange rates and other market data. Rashid is available on the bank’s website, mobile app, online banking platforms and WhatsApp. It is also available for Dukhan staff to resolve their queries about work-related topics.
The bank now plans to add fund transfers, activating or blocking cards, credit card and utility bill payments, spending analysis and personalized recommendations for a client based on past behaviour to Rashid’s portfolio.
In June 2022, the bank became the first in Qatar to join Mastercard’s Digital First Card programme. Dukhan, under acting chief executive Ahmed Hashem, is issuing digital prepaid cards to increase efficiency in payments, boost the role of digital commerce and phase out the use of cash. Using the bank’s mobile app, customers can set up regular top-ups of Mastercard balances.
Such partnerships, Hashem notes, highlight Dukhan’s efforts to offer innovative Shariah-compliant products and services to the banking industry. It wants to be at the forefront of Islamic banking’s efforts to increase demand, grow in sophistication and disrupt Middle Eastern financial markets. In 2022, Dukhan was first to bring Google Pay and Samsung Pay to Qatar.
Dukhan launched its new D-Tap product last year. It is a payment solution for merchants offering low-cost payments using a variety of contactless-enabled cards and devices. Businesses can accept payments from cards or mobile wallets from smartphones and tablets. The service doesn’t require additional hardware and allows quick and safe payments that can be confirmed in real time via SMS or email.
In June 2022, the bank became the first in Qatar to join Mastercard’s Digital First Card programme
For customers who still favour plastic, Dukhan is also issuing physical cards that are completely numberless, providing protection from theft of personal and financial information.
Dukhan is also active in corporate digital Islamic banking. Its new platform enables companies of all sizes to manage customers, handle multiple levels of approvals, download transactions and view account statements. Companies can carry out fund transfers from account to account and do intra-bank third-party transfers, both domestic and international, in one place.
Batch transfers, bulk uploads and utility bill payments to telecom companies including Vodafone, Ooredoo and Kahramaa are also available.