In this Global Platform video, Shahnawaz Rashid talks about the strategies for driving innovation and sustainability in Qatar's banking sector. Qatar has developed strong infrastructure, including roads, ports and health care, highlighted during events like the 2022 FIFA World Cup and the Covid-19 pandemic. In line with Qatar National Vision 2030, the country is focusing on sustainable growth, technology adoption and reducing carbon emissions by 25% by 2030. The banking sector is enhancing financial technology, promoting green initiatives like electric vehicle loans, and fully digitising processes. Commercial Bank is also leveraging artificial intelligence to offer personalised financial products, positioning itself as a key partner in Qatar's economic development and regional growth.
Qatar has a very robust infrastructure of roads, ports, airports and metro that was very impressively showcased during the 2022 FIFA World Cup. Qatar also is ranked among the top 20 countries in terms of hospital services and medical services, which was very efficiently highlighted during the Covid 2019 to 2021 timeframe, which is well supported by our government infrastructure of healthcare. In line with the Qatar National Vision 2030 of the government, the final stage of the National Development Strategy was launched, and the focus was developing a growth model with diversity, leveraging on the technology and adoption of the digitisation, while ensuring that we preserve Qatar's value of harmony, continued quality of life, resources, as well as the whole ecosystem preservation.
In addition to that, Qatar Central Bank also launched its national fintech strategy in 2023. Qatar has a very resilient banking system with deep liquidities and strong capital adequacy ratios. Credit growth in the last few years has been muted largely because of higher interest rates. However, as the interest rate turns, I think the banking sector of Qatar is well-positioned to take advantage of credit growth both for the hydrocarbons and non-hydrocarbons sectors.
The government has set a bold goal of reducing 25% of carbon emissions by 2030. Today, 98% of our transactions are executed by customers on mobile and online channels. Thus, they do not even have a need to ever go to the branches, and this has really helped in reducing our carbon footprint. Another initiative that we have recently taken is the green vehicle loans, where we have collaborated with electric car manufacturers, and major car dealers by offering them differentiated rates and very special offers.
In addition to that, we are also encouraging customers to invest in environmentally friendly real estate properties. Today the entire merchant onboarding process is fully digitised. Another area that I think is a recent development which is happening is a lot more focus on providing tailored, customised wealth management solutions using various asset allocations. The awareness of the market is limited as far as some of these products are concerned, so we have taken it upon ourselves to work very closely with the QCB to really educate the market.
In the global context, one trend is the use of artificial intelligence (AI) and data architecture. So, just to give you an idea, we are now using a lot of behavioural analytics which is integrated with our AI models. So when a customer walks in to open a salary account with us, the customer can be offered a credit card, a personal loan, a saver product or an investment solution all at the same time. With a pedigree of 50 years of market dominance, client innovations and alignment with the Qatar National Vision 2030, and investment in the right people, technology and digitisation, Commercial Bank is well-positioned to continue to be an important partner in financing the Qatar economy and a key player as far as the GCC region is concerned.
