A Proposed Strategy to Accelerate the Pace of Digital Transformation in Islamic Banks: An Applied Approach to the Experience of Four Leading Banks

Abstract

This research aims to provide strategy to accelerate the digital transformation in Islamic banks, based on conceptual and applied curricula foundations by experiencing four Islamic banks (Abu Dhabi Islamic Bank, Qatar Islamic Bank, Kuwait Finance House and Saudi Al Rajhi Bank), research proceeded from the hypothesis that the examined Islamic banks has adopted a strategic plans for digital transformation were crowned with leadership, In view of this, a strategy can be developed to accelerate the digital transformation in Islamic banks, the hypothesis was tested based on Evolutionary analysis of the following variables: digital leadership reality, level of digital innovation, indicator of growth in the use of digital channels, level of use of digital transformation, study reached several results , including: (1) the experience of banks studied were crowned with digital leadership; (2) formulate strategy to accelerate the digital transformation which included developed strategic plans for digital transformation, building procedures to activate the digital leadership, procedures to activate the digital innovation, building mechanisms to adoption and implementation digital transformation techniques. Using evolutionary diagnosis to rectify the deviation in the implementation of proposed strategy, the research provided a set of proposals for ensuring continuous implementation of proposed strategy in keeping with its time frame.