AuthorRhodes, Fred
PositionNew book - Brief Article

ARAB BANKING AND FINANCE 2000 16th edition published by TELE-GULF Directory Publications WLL Price $79.00

During 1999 the world witnessed a sharp decline in the financial markets, currency fluctuations, a slump in oil prices, the creation of the Euro currency, the increasing influence of the Internet and the dawn of globalisation consequent to the WTO-led new order in commodity trading and services worldwide.

The Internet has revolutionised the business world and in order to become part of the worldwide web, the Arab countries have to catch up fast. Electronic commerce and the usage of Internet requires a sophisticated telecommunications network, expansion in credit card use and a wide spread of personal computers.

The time has come for Arab banks to look beyond their own borders and seek a bigger share in other markets in the Middle East. In order to confront impending challenges in the new millennium, the Arab banks will have to restructure and adapt...

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