Latest news with #CollegeofBankingandFinancialStudies
Observer
22-04-2025
- Business
- Observer
CBFS conference explores AI's role in banking and finance
MUSCAT, April 22 The College of Banking and Financial Studies (CBFS) is hosting the third International Conference on Banking, Finance and Business (ICBFB 2025) from April 22–24 under the auspices of Eng Said bin Hamoud al Maawali, Minister of Transport, Communications and Information Technology. Held in strategic partnership with the Central Bank of Oman, Financial Services Authority, and Oman Banks Association, the conference also enjoyed academic collaboration with renowned institutions like the University of Portsmouth (UK) and ISACA Muscat Chapter. Themed "Applications of Artificial Intelligence in Banking and Finance: Opportunities and Challenges", ICBFB 2025 brings together academic researchers, industry practitioners, and technology innovators to talk about the future of AI in financial services. Topics range from evolving business models and AI-powered innovation to data-driven research and real-world implementation. In opening remarks, Dr Zahran al Salti, Dean, College of Banking and Financial Studies, stated "The third edition of the conference will be devoted to applications of artificial intelligence in banking and finance, and both opportunities and challenges will be addressed." Dr Al Salti added: "This event is part of the broader initiative of the university to foster scientific research and knowledge transfer. It is designed to provide a forum for the exploration of key issues in AI, finance, and banking. The conference is expected to develop a deep understanding of the challenges as well as opportunities in these fields, offering innovative solutions and best practices based on expert counsel." "There will be a range of scientific papers and discussion sessions providing great insights. The conference is being staged as Oman remains on its digital transformation in accordance with the Oman Vision 2040, which exploits developments in information and communication technology," he stated. A key highlight of the event was the CBFS AI Expo, inaugurated by Ahmed al Musallami, Governor of the Central Bank of Oman. The expo featured over 14 AI companies with next-generation business intelligence and financial technology solutions, and it attracted strong interest from the corporate and entrepreneurial communities. Dr Ali al Shidhani, Under-Secretary of Communication and Information Technology at the Ministry of Transport, Communication and Information Technology, remarked on the matter, "I believe AI can solve a host of pressing challenges facing the banking and finance sector. From fraud detection and credit scoring to algorithmic trading and personalised financial services, AI is already proving transformative." He added, "Generative AI and large language models are particularly promising in customer experience, with more intuitive and responsive communication tools. This conference will yield a wealth of ideas and possibilities, showcasing the broad spectrum of uses of AI across the financial ecosystem."
Times of Oman
18-04-2025
- Business
- Times of Oman
Hackathon and Investment bootcamp kicks off to promote financial literacy
Muscat: The College of Banking and Financial Studies in Muscat launched the Hackathon and Investment Bootcamp today. This initiative is part of the National Framework for Enhancing Financial Literacy, organised jointly by the National Programme for Financial Sustainability and Sector Development (Istidama) and the Innovation and Technology Transfer Centre at Sultan Qaboos University. The hackathon and bootcamp aim to develop innovative solutions that promote a saving and investment culture, empowering individuals to make more informed and sustainable financial decisions. Thirty-one teams, comprising small and startup businesses, university students, and job seekers from across Oman, are participating with their creative ideas. The initiative team evaluates submissions based on the strength of the idea, feasibility, and completeness of team members. Eligible teams undergo guidance throughout the three-day hackathon, culminating in the selection of 10 teams for the Investment Bootcamp phase, which will continue for three months following the hackathon's conclusion. Participants benefit from specialised workshops and mentoring sessions conducted by financial experts and business development specialists to transform their concepts into practical prototypes. These prototypes will be presented to potential investors on the final day, where the winning teams will also be announced. This year, 247 ideas were submitted, of which 31 were shortlisted for participation. The event was inaugurated by Abdullah bin Salem Al-Harthi, Undersecretary of the Ministry of Finance. The National Framework for Enhancing Financial Literacy, announced in mid-2024, focuses on enabling individuals to effectively plan and manage their financial resources by promoting core financial concepts and delivering innovative awareness and educational programmes. These programmes utilise diverse methods, including experiential learning and encouraging behavioural change.
