The Impact Of Globalization On The Banking Industry

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Globalization describes as a process by which national and regional economies, societies, and cultures have become integrated through the global network of trade, communication, immigration and transportation. In the more recent past, globalization was sometimes primarily concentrated on the economic side of the world, such as trade, foreign direct investment and international capital flows. Globalization has a great worldwide effect on the banking industry in any country. Whereby, the economic effect of globalization on the Banking Industry may be positive and negative as well. A political factor plays an important role in any business. There are some factors that the political include: tax policies, stability of government, entry mode regulations,…show more content…
Also, add machine direct debit in the supermarket, shops and commercial with the relationship. Application programming smart in the mobile smart phone to activate the operations of banking personal such as electronic transfer and price currency. Add windows electronic payment to protection safe and fraud, theft for the companies and government services such as payment of electricity and water bills. In addition payment of traffic violations and eeasy of movement of capital through modern communications and the development of banking systems use of these methods led to facilitate lending and conversion operations. Environmental factors banking sector has little impact in the environment. Therefore, banking sector consider to apply energy consumption regulations in current time. So, that will help to balance between the operation banking and the environment. In addition, banking sector participate to support teams footballs…show more content…
Firstly, reduce the price of interest of the loans personal such as for cars and homes and the price interest for service administrative bank only. Secondly, launching new islamic products in order to attract large segment of customers by innovations and creation. In addition to continuous improvement and innovation in the quality of banking services through the restructuring of the banking environment on the organizational and operational levels of the face and accelerate the development of electronic communications trusses to facilitate the transfer of information and data faster and closer to save time, money and efforts. Thirdly, open field of foreign investments in the banking sector in Oman and integration with local banks in order to shareholding the banking activity and increase capital. Fourthly, open branches outside Oman in order to expansion of the banking sector and increase the financial return through the investment abroad easy and safe. Also expand the list of the products and services to achieve the customer's needs inside

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