The impact of globalization on Libyan commercial banks

A field study on Al Wahda Bank, Zliten Branch

Abstract

This study aimed to demonstrate the impact of globalization on Libyan commercial banks, we will try through this research to highlight globalization and its most important effects on Libyan commercial banks, through the development of banking services and their provision locally and internationally, and the speed of providing these services locally and internationally, as well as the impact of globalization on the integration of local commercial banks Also, merging with international banks, and to achieve this, reliance was placed on Al-Wahda Bank, the Zliten branch, during the period between 2020-2021 The analytical descriptive approach was relied upon, and the research data was analyzed and its hypotheses tested using the statistical package for social sciences known as the abbreviation (SPSS). Local within Libya, as well as the merger of Libyan commercial banks with international banks. With the escalation of the role of globalization in economic life, many global banking changes emerged that strongly affected the commercial banking system in terms of its performance, policy, and operationsThis study recommended that the management of commercial banks in Libya should accelerate the reform of the banking sector by activating the partnership with foreign banks, especially in the technical aspect, in order to rehabilitate the banks. Customers, as well as commercial banks must develop the technology, information and communication sector (infrastructure) In view of the great importance in the field of providing banking services, it is also necessary to take advantage of modern strategies for the development of banking services, by strengthening banking institutions and heading towards privatization and merging of banks locally and internationally to keep pace with global developments.