Qatar Islamic Bank (QIB) has announced that it is sponsoring the ‘3rd Annual Conference for Information Security in Financial Institutions’.
The conference, which is organised by the Qatar Central Bank, will take place on the November 1 in Doha under the patronage of HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa al-Thani.
With information security being a nationwide matter, QIB said the QCB is collaborating with all government authorities, especially the Ministry of Transport and Communications and the Ministry of Interior, to confront mutual challenges.
QIB said the conference will address information security challenges faced by banks in Qatar and abroad, as well as current solutions and infrastructure improvements taking place within the financial sector. The event is a continuation of the deliberations of the two previous conferences held in 2014 and 2015, which drew praise from speakers and delegates alike, QIB said.
QIB’s sponsorship of the conference is in line with the commitment of the bank’s board of directors and executive management to support initiatives, which strengthen Qatar’s financial and banking sector.
QIB said the bank prides itself on its proactive approach to information security, having invested in a number of security features and tools to continuously increase customers’ protection from fraud and offer them a convenient and trouble-free banking experience.
QIB was the first bank in Qatar to become PCI-compliant with regards to credit card systems and processes, adding 3D secure technology to safeguard online purchases made using a debit or credit card.
The introduction of the One-Time Password (OTP) authentication process increases security when banking online, QIB said. Customers can make purchases online only after receiving the password, valid for one minute, via SMS or by using the QIB Aman smartphone application.
The bank’s security initiatives included the implementation of an “state-of-the-art” Anti-Skimming Protection Solution, which reduces the risk against thieves skimming customers credit or debit card information using a device that affixes to the ATM’s card reader.
The bank has also taken measures to enhance its IT security infrastructure through the use of firewalls, an upgrade of its data centre switches, and a technology refresh of its entire telephony system.
“As firm supporters of the initiatives taken by the government and the Qatar Central Bank to ensure the safety of the entire banking sector, we are pleased to sponsor the ‘3rd International Security Conference for the Financial Sector’ and contribute to promoting Qatar as a safe and secure financial environment,” said QIB Group CEO Bassel Gamal.
QIB said it recently launched a public banking security awareness campaign, which was designed “to get the message across in a simple, straight-forward way.”