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Strategies of Change in Banking: between Challenges of Globalization and Profession Requirements | ||
| TANMIYAT AL-RAFIDAIN | ||
| Article 9, Volume 30, Issue 92, 2008, Pages 150-171 PDF (601.02 K) | ||
| Document Type: Case Report | ||
| DOI: 10.33899/tanra.2008.161730 | ||
| Authors | ||
| Dr.Mowffaq AL-Saideyya; Saja Mohammed | ||
| Abstract | ||
| Abstract Banking is one of the most prominent activities that have been activated with International Developments, especially in both financial and economic aspects. Therefore, banks should be modified and incorporated with the developments through adopting many essential strategies that may help in continuing, competing and facing several challenges. Since globalization is one of most potential phenomena occurred in the financial activity, the research has shed light on reviewing globalization and other important challenges that banks may face and the requirements to be taken to incorporate with this phenomenon. First, banks should increase their capitals according to Basle committee requirements which are suitable for real risks that banks facing nowadays also technological development in information systems is one of challenges that lead to make change in financial business styles in order to decrease costs and obtain fastness and accuracy in the operations processes and fulfilling demands of customers, in order to achieve satisfaction and continue with their dealing with the bank. Customer nowadays is the first aim of banks in order to provide him with every modern and suitable to keep him dealing; increase his satisfaction and trying to seek for new customers. The research assured the exchange caused by globalization in the financial services structure. Liberation from conditions, regulations and legislation led the banks greatly to enter business aspects that have not been permitted before. Banks today became universal banks ones, they collect savings from all sectors and re - invest them in all sectors depending on varying strategy to decrease risks and enlarge returns in addition to practice investing banks business and banks that need a whole re - engineering for banks. Applying strategies of re - engineering and continues improvement demand applying concentration on getting competitive features for bank through decreasing costs, increasing returns and market portion, which the research adopted in details. . | ||
| Keywords | ||
| Strategies of Change; Challenges of Globalization; Profession Requirements | ||
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