The Role of Banks in Developing Foreign Trade Techniques Under Fintech

Banks play a significant role in the economy, and among their key functions is financing foreign trade operations. Foreign trade is a method ‎of promoting economic development and societal well-being, as it allows each country to leverage the resources of other nations to meet its ‎needs. It is essential for every country, whether developed or developing, to have access to goods and services that are not available domestically. Even countries with a surplus of goods and services also need to trade with other countries to market that surplus and generate reve‎nue from its sale.‎‏ ‏However, given the evolution and complexity of technology, it has become necessary for banks to utilize this technology, especially fintech, in foreign trade operations‎.