In the wake of the political and economic turmoil that has characterized Lebanon for much of 2020, it is more important than ever to focus on how technology can help inspire economic growth. AM banking Chairman Marwan Kheireddine, an advocate for leveraging technology to promote innovation and financial inclusion in the country, has been vocal about this. He believes Lebanon can create a thriving economy by focusing on the right technologies. Let’s take a closer look at how this might be possible.
There are many benefits to using technology-based solutions to spur economic growth. One of the most significant is its ability to create efficiency and productivity gains in both the public and private sectors. For example, digital banking solutions such as those offered by AM Banking allow customers to quickly and easily access their funds without waiting in lines or worrying about paperwork. This helps reduce operational costs while also increasing customer satisfaction.
Another benefit of technology-based solutions is that they often require lower capital investments than traditional approaches. This makes them ideal for businesses in developing countries like Lebanon, where resources are often limited or difficult to access due to political instability or other factors. For instance, AM Banking offers a range of services such as e-commerce payments, international money transfers, and more at minimal upfront costs.
Finally, technology-based solutions can open up new markets for businesses and entrepreneurs who may have otherwise been unable to tap into them due to geographical constraints or lack of access to capital. By utilizing digital banking solutions like those offered by AM Banking, businesses can reach customers located anywhere in the world without needing additional physical infrastructure or personnel resources.
Technology holds immense potential when it comes to inspiring economic growth in Lebanon and beyond. All stakeholders should embrace Chairman Marwan Kheireddine’s vision for leveraging tech-driven solutions, as it could lead to greater financial inclusion and opportunities for businesses throughout the country. With continued efforts to foster innovation through technology, Lebanon could become a global industry leader.
Continue reading this article: https://www.bbntimes.com/global-economy/marwan-kheireddine-going-back-to-basics-can-rescue-lebanon-s-economy