Banking Sector
2 articles filed under this keyword.
The Impact of Blockchain Technology on the Future of Commercial Banking
Shakhawan Babakr Hassan, Khalil Anwar Hussein, Salahadeen Maghdeed Hussein, Begard Wali Muhammed
This study investigates the ramifications of blockchain technology on the future landscape of commercial banks in the Kurdistan Region of Iraq, drawing insights from expert perspectives. The evolution of blockchain has significantly reshaped all facets of banking services and operations, resulting in a paradigm shift away from the traditional banking modus operandi in terms of systems, external events, and human intervention. Employing the Analytical Hierarchy Process (AHP) methodology and utilizing SPSS software (Version 26), the study analyzed data collected through questionnaires distributed among banks and universities in the Kurdistan Region of Iraq, totaling 90 responses. The findings reveal a notable, statistically significant inverse correlation between blockchain adoption and the future trajectory of commercial banks in the Kurdistan Region. Increased integration of blockchain technology enhances the resilience and viability of commercial banks, thereby reducing the likelihood of adverse impacts. Moreover, blockchain technology demonstrates tangible and positive prospects for the future of commercial banking, facilitating enhanced operational efficiency and cost reduction through streamlined processes and accelerated transactions, one of the key recommendations derived from the research is the necessity for banks to adopt blockchain technology. This technology contributes to reducing the costs of banking services provided in the Kurdistan region and enhances operational efficiency by minimizing intermediaries and expediting transfer and settlement processes.
Volume 10 · Issue 4 · December 2023Operational Risk Assessment and Its Role in Mitigating Damages in Commercial Banks: An Analytical Study of Expert Opinions in the Kurdistan Region - Iraq.
Shakhawan Babakr Hassan, Halmat Rasol Smiel
The aim of this study is to measure and analyze operational risks and identify the most important causes of operational risks in banks in the Kurdistan Region, based on the opinions of experts in this field. Operational risks affect all banking services and operations, such as internal systems, external events and human factors, which can cause significant losses for banks. Therefore, banks need to adopt evolutionary approaches to competition and risk management. To conduct the research, a selection of banks operating in the Kurdistan region was chosen as a case study area to identify the most significant causes of risks in banks. In order to achieve the aim of the study, the Analytic Hierarchy Process (AHP) methodology was used, relying on (SPSS.V.22) software as one of the standard economic methods for analyzing information obtained from a questionnaire administered to selected banks operating in the Kurdistan Region - Iraq. The study found a significant inverse relationship between operational risk assessment and the reduction of harm in commercial banks. This means that the higher the operational risk standards adopted, the lower the likelihood of injury in banks. Additionally, most banks have a plan for identifying and defining operational risks, and that many of the respondents confirmed the presence of operational risk definition and identified in the bank's approved plan for managing operational risks by the board of directors. This indicates that banks recognize the importance of identifying and managing operational risks as part of overall risk management. Data analytics and results should help increase this awareness and improve business risk management processes and procedures.