Globalization In The Banking Industry Case Study

Globalization in recent century has made huge differences in the world as a whole from different parts, it defines as: "The worldwide movement toward economic, financial, trade, and communications integration" (business dictionary) in other words, globalization is one of the tools that made the connections between the world countries more close to every single part on the earth which helped them to do all the necessary work to achieve the best results ever, especially in the banking industry that deals with the movements of cash, capitals, shares and financial requirements. The banking industry is known as the financial institutions that accept to deal through the monetary policy and to engage in particular kind with commercial enterprise.

The banking industry should provide its services according to the needs and expectations of the customers, who are part of the community within the limits that are accepted by all the participants, while the main impact of the globalization in social part within the banking industry is that linked out the people from different countries along together and made the long distance as if they were close, and that arose when the people of Bahrain is interested in studying the worldwide law of accounting and finance in different countries to fully understand this area of social terms. Furthermore, the most effect of globalization is that influenced the behavior of society as a whole in different areas like: food, Clothing, and entertainment habits, thoughts and

This factor is changing the world immediately and continuously every single minute by its rapid development around the domain, and for that the business needs to adopt and be updated to these kinds of technologies for the best of the whole industry. (Weinstein, 2005) And this factor helps to develop the work process, decrease the huge burden on human beings, and minimize the time spent in each operation, increase efficiency with effectiveness and reduce the number of employees that can be employed in each section. On the other hand, these modernized technologies needs trainings and big budget to fix and use them correctly. Technology has affected significantly the banking industry and made the work more easy by introducing a lot of work technic and mechanisms similar to the automatic cash machines, ATMs and banking systems, and the globalization has facilitated the transfer of funds through the process of technology between countries of the world as a whole, which contributed to raising the level of world