QIIB Deputy CEO Jamal Abdullah Al Jamal (centre) and other officials at the workshop held to discuss cyber-security related issues and challenges, yesterday.
DOHA: QIIB, one of Qatar’s leading Shariah-compliant banking and financial services providers, has achieved the highest level protection against any possible cyber-attacks. This became possible as a result of its integrated cyber-security strategy, noted a senior official of the Bank at a workshop organized yesterday to discuss the issue.
QIIB held a specialised workshop for its cadres that focused on cyber-security and the technological challenges that banks are currently facing.
The workshop highlighted the bank’s major achievements in responding to the requirements of the digital age as well as maintaining the safety and environment of its banking transactions and providing the necessary protection for customer accounts and personal data from attempts of hacking and other banking frauds.
These are now considered some of the most important challenges banks are facing in the light of growing electronic penetration and newer methods of fraud and theft of confidential financial data by professional and specialised gangs. They target more victims through newer tricks and techniques with the aim of stealing their money and bank statements.
At the beginning of the workshop, QIIB Deputy CEO Jamal Abdullah Al Jamal talked about the integrated strategy adopted by QIIB years ago, to tackle technological challenges.
He pointed out that the bank invested effectively in its cyber-security infrastructure, which has reached a very advanced stage and currently allows it to keep pace with the best globally-used software and technologies.
This also helped the bank effectively control all attempts of hacking and fraud and ensure that all its operations are conducted in accordance with the highest security and confidentiality standards. These are done maintaining the confidentiality of customers’ information and banking transactions, thus helping the bank win several awards on information security and customer transactions.
He said: “The bank gives great importance to cyber-security risks that are wide-spread in various fields namely banking, as it is the most targeted sector. We worked on many aspects in order to address and mitigate these risks. So we invested in the latest technology, which is very important and essential but at the same time insufficient, unless backed by campaigns that raise customer awareness about the risks of hacking and frauds that affect many, who unfortunately might be held liable if not fully aware of how to deal with such cases”.
Al Jamal added: “On our own initiative and in response to the directives and circulars of the supervisory bodies represented by Qatar Central Bank, we periodically send alerts to customers about the risks of fraud and hacking. We also have a hotline working round the clock to help our customers avoid any hacking or fraud that may expose them to losses”.
The Deputy CEO pointed out that “QIIB made a qualitative shift during the last few months in terms of conducting financial transactions through alternative channels that require a very high level of security and protection against hacking and fraud. We have succeeded in preventing all attempts of hacking and fraud to which the bank’s customers were exposed, by investing in information security technology and our human cadre.’’
“We achieved a significant increase in the number of mobile, internet and telephone banking users and noted a significant decrease in the number of customers visiting the bank’s branches. At the same time there is an increase in requests for various electronic services, which is natural and logical, and meets our goals. Most electronic services can now be sought through alternative channels from customers’ workplaces or homes such as transfers, requests for check books, payment of bills, account statements and other banking services”.
During the workshop, Hesham Mohameden, Chief Information Security Officer clarified: “QIIB is continuously following up the latest developments related to the protection of information and updating its processes, mechanisms and procedures.’’
