The Development of New Bank Products and Services
The need for new products and services (including deposit products); the increasing role of Islamic banking; mortgage and housing finance in Iraq.

Panel Participants

• Moderator:  Rami Hadid, Assistant General Manager, Capital Bank, Jordan
• Mowafaq Hassan Mahmoud, General Manager, Arab Banking Corporation
• Faisal Haimus, Emirates Islamic Bank, Dubai
• Rajai S. El-Khadem, Business Development Manager - Eastern Mediterranean and Pakistan, Microsoft

Topics Discussed

1. Lending products
   1. Consumer credit
1. Credit cards
2. Installment credit (vehicle loans, etc)
3. Personal loans
2. Deposit products
   1. Interest-bearing current accounts
   2. Frequent calculation of interest on saving accounts (monthly or even daily)
   3. Interest calculation basis (average balance, lowest balance)
   4. Contrast practice in Jordan and elsewhere in the Arab world with Iraq
3. Electronic banking products
   1. ATMs
   2. Internet banking
4. Islamic banking products - Description of operating principles and characteristics of the following banking products:
   1. Lending products
1. Musharaka
2. Mudhariba
3. Muribaha
2. Investment products (funds)
5. Mortgage finance and housing finance
1. Home equity loans
6. Customer Relationship Management (CRM) – Developing tailored solutions for customer needs by market segment

Reference Works

Al-Haimus, Faisal. “Islamic Banking Product Development and Iraq”. April 2007.

Russ, Pat. "Customer Relationship Management in Retail Banking". EDS Viewpoint Paper. 16 October 2006. Online. Available: http://www.eds.com/services/whitepapers/downloads/crm_banking.pdf

Benaissa, Nasr-Eddine; Parekh, Mayank P; and Wiegand, Michael. “A Growth Model for Islamic Banking”. The McKinsey Quarterly, October 2005. Online. Available: http://www.mckinseyquarterly.com/article_abstract_visitor.aspx?ar=1694

Platt, Gordon. "Murabahah Goes Mainstream”. Global Finance February 2007:358. Online. Available: http://www.gfmag.com/index.php?idPage=358. 

SanBoeuf, Larry. “Mobile Banking Services: Reaching the Under- and Un-Banked”. November 2006.

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