The role of the banking services sector in achieving sustainable development, an analytical study.

The global economy in general, and the banking sector in particular, has witnessed in recent years major economic transformations, the most important of which is the emergence of regional economic blocs, and the accompanying mergers between banks. One of the most important reasons for the acceleration of banking mergers is the creation of large banking entities capable of achieving local competition against large foreign banks located in the region, as well as their ability to enter global markets. Given the great importance of the banking system, it must adapt to all local changes and conditions such as privatization, liberalization and global conditions. Banking services are of great importance in the global economy, whether in developed or developing countries, and international trade in banking services is increasing rapidly, due to several reasons, the most important of which are: the great progress in the means of communication and the information revolution, and the interdependence of international financial markets, the use of new financial tools and rapid technical development. The banking market, which has been supported by advanced technology in the field of communications and data, has gained significant experience at the international level. It has also grown dramatically in financial operations globally.