WUAB chairman says financial technology contributes to expediting remittances

CAIRO - 29 April 2018: Chairman of the World Union of Arab Bankers (WUAB) Joseph Torbey said Sunday that financial technology greatly contributes to expediting remittances between countries.

Addressing a conference on the future of banking services, Torbey still warned of threats of advanced financial technology, especially where bank profits are concerned.

For his part, chairman of the Union of Arab Banks Mohamad al Jarrah al Sabah said financial technology has greatly developed in Arab countries over the past period.

Companies are competing among themselves to update their financial services, Sabah noted.