Banking mergers influenced by the establishment of the General Agreement on Trade in Services(GATS)

Hatim Fahad Al-Obaidy, Dr.; Hassan Ali, Saad

	Banking mergers influenced by the establishment of the General Agreement on Trade in Services(GATS)
AL-dananeer
Article 1, Volume 1, Issue 12, 2018, Pages 42-68
Authors
Dr. Hatim Fahad Al-Obaidy; Saad Hassan Ali
Abstract
The GATS and its Annex on Financial Services provide the international legal framework for the regulation and liberalization of cross-border trade in financial services within the WTO.This study is concerned with the main provisions of the Convention and their impact on domestic and international financial regulation through the linkage between the wave banking merger, which has been active locally and internationally as a strategy to enhance the competitiveness of banking units. The study found several results, the most important of which is that the process of banking mergers is one of the strategies used by banks to adapt to developments in the market to strengthen their competitiveness, so each wave of mergers that occurred at the level of the world was linked to change both at the level of the national economy of a state or At the level of the international economy. By extrapolating the data available to the huge wave of mergers that took place at the end of the nineties, which started from the end of 1997 and the beginning of 1998 and continued until 2002 between large financial institutions that are closely related to the changes that took place in that period. The establishment of the General Agreement on Trade in Services (GATS) is one of the most important events that have led to this wave of mergers.

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