5 hours ago
Homeland Today: On Tuesday, US forces launched strikes on targets belonging to an Iranian-backed armed group in Syria, in response to a missile attack targeting its forces there, according to what the US military reported.
US Central Command explained in a post on social media that the strikes targeted a “weapons storage warehouse and supply command headquarters, in response to a missile attack targeting American personnel.”
The statement said: “These strikes came in response to the missile attack that targeted American soldiers at the Al-Shaddadi base, and there was no damage to American facilities or injuries among American or partner forces during the attack.”
The United States maintains about 900 soldiers in Syria and about 2,500 soldiers in Iraq, as part of the international coalition formed in 2014 to fight ISIS.
Since the start of the offensive against Gaza on October 7, 2023, groups loyal to Iran have repeatedly targeted American forces in Iraq and Syria, in response to Washington’s support for the occupation, and the States United responding.
The United States has also sent warships and fighter aircraft to the region.
Time.News Interview: The Future of Banking in the Arab World
Editor (T.N.): Good evening and welcome to Time.news! Today, we have a special guest with us, Dr. Layla Hassan, a renowned economist and expert in Middle Eastern banking. With the recent developments in Arab international banking, we’re excited to delve into the implications for the industry. Thank you for joining us, Dr. Hassan.
Dr. Layla Hassan (D.H.): Thank you for having me! I’m excited to share insights about the evolving banking landscape in the Arab world.
T.N.: Let’s jump right in! There’s been a lot of buzz around the Cairo Amman Bank and its recent initiatives. What do you think are the key factors driving the growth of banks like Cairo Amman Bank in the region?
D.H.: Absolutely! Cairo Amman Bank has been at the forefront due to its innovative approach and adaptation to market demands. Key factors include their commitment to digital transformation, customer-centric services, and expanding their network to cater to a broader audience. These initiatives have positioned them well in a competitive market.
T.N.: Digital transformation is a hot topic. How do you see technology altering the banking experience in the Arab region, particularly for smaller banks?
D.H.: Technology is a game-changer! It’s providing smaller banks with the tools to compete with larger institutions. With advancements like mobile banking, AI-driven customer service, and fintech partnerships, smaller banks can offer personalized services and streamline operations. This accessibility opens the door for greater financial inclusion—empowering those who were previously underserved.
T.N.: That’s an important point! Financial inclusion is crucial. However, there are still challenges. What barriers do you see that can hinder this progress in the Arab banking sector?
D.H.: One of the significant barriers is regulatory frameworks that haven’t kept pace with technological advancements. While many countries are making strides, there’s still a need for comprehensive policies that support fintech innovation and consumer protection. Additionally, cybersecurity remains a critical concern that needs addressing for both customer trust and operational integrity.
T.N.: Speaking of regulations, how important is international collaboration for the Arab banking sector?
D.H.: It’s vital! International collaboration can enhance knowledge sharing, improve risk management practices, and lead to better regulatory reforms. Banks can learn from global best practices and innovations in different markets. This collaboration not only benefits individual banks but also strengthens the overall stability of the banking system in the region.
T.N.: Very insightful! As we look ahead, what trends should we be watching for in Arab banking over the next few years?
D.H.: I predict an increased focus on sustainability and green banking initiatives, with banks adopting practices that promote environmental responsibility. Additionally, we’ll see more integration of artificial intelligence and machine learning for risk assessment and personalized banking experiences. Lastly, the rise of cryptocurrencies and digital currencies issued by central banks could fundamentally reshape the financial landscape.
T.N.: Exciting developments ahead! Before we wrap up, Dr. Hassan, what advice would you give to emerging bankers looking to make their mark in this evolving industry?
D.H.: My advice would be to embrace innovation and stay agile. Understand the needs of your customers and leverage technology to meet those needs. Networking within the industry and continuous learning will also be key to staying ahead in this fast-paced environment.
T.N.: Thank you, Dr. Hassan! Your insights provide a great roadmap for the future of banking in the Arab world. We appreciate your time today!
D.H.: Thank you for having me! It’s been a pleasure discussing these important topics.
T.N.: And to our audience, thank you for tuning in! Stay tuned for more discussions on current and future trends shaping our world.