Hamza Alakaleek has graduate degrees in International Political Economy and International Business Law from Yarmouk University and University de Montreal with focus in Internet of Things, Artificial Intelligence and Data Protection.
The Municipality of Greater Amman has announced plans to use facial recognition technology (FRT) starting next year. FRT may be used in a variety of applications, including security, law enforcement, and traffic flow.
Fintech, short for financial technology, has transformed our relationship with money. From mobile payments to peer-to-peer lending, fintech companies have made financial services more accessible, affordable, and convenient than ever before. Recently, colossal fintech players like Apple, Ant Group, PayPal, and Stripe have gained significant power, boasting billions of users and trillions of dollars in assets under management. This unparalleled influence enables them to shape the financial system and our perception of money.
In July of 2023, Microsoft disclosed a significant security breach involving a Chinese state-sponsored hacking group gaining access to the Microsoft accounts of several top officials in the US administration. The hackers employed various techniques, including phishing emails, exploiting vulnerabilities in Microsoft software, and stealing credentials from a Microsoft engineer. This hacking campaign underscores the vulnerability of government systems to cyberattacks, highlighting that no entity is immune from such threats.
The rise of digital banking has been one of the most significant trends in the financial services industry in recent years. Driven by advances in technology, digital banks offer a variety of advantages over traditional banks, including convenience, efficiency, and lower costs. This has led to increased competition for traditional banks, and has forced them to adapt their business models in order to compete.
While artificial intelligence (AI) offers numerous transformative benefits, it is essential to critically examine its potential role in facilitating white-collar crime. White-collar crime, traditionally associated with non-violent offenses committed by individuals in positions of power, has seen a significant transformation with the advent of AI technologies.
The Federal Reserve has been raising interest rates as part of its strategy to combat inflation. Consequently, this has led to increased interest rates on various types of loans, including mortgages, car loans, and credit cards. In response to the US Federal Reserve's actions, the Central Bank of Jordan (CBJ) has also raised interest rates on all monetary policy tools. The CBJ's decision aims to uphold the monetary and financial stability of the Kingdom of Jordan. Additionally, it seeks to enhance the competitiveness of assets denominated in Jordanian Dinars by maintaining an appropriate interest rate structure that aligns with recent global and regional interest rate trends.
The rule of law plays a crucial function in a country's prosperity. It promotes economic growth, attracts foreign investment, ensures social stability, and fosters good governance. A robust legal framework and an independent judiciary contribute to sustainable development and overall prosperity which emphasize that nurturing the rule of law should be a top priority for government.
Innovation is widely recognized as a key driver of economic growth, competitiveness, and societal progress. As economies increasingly rely on knowledge-based industries, understanding the legal aspects of innovation economics becomes crucial. However, innovation’s complex nature necessitates an equally sophisticated legal framework that can effectively address emerging challenges while fostering innovation-led economic development.
The concept of digital currency has been around for a while now, and with the advent of blockchain technology, it has become more popular than ever. Central banks around the world have been exploring the possibility of issuing their own digital currencies, and some have already started piloting them. A central bank digital currency (CBDC) is a digital form of fiat currency that is issued and backed by a central bank.
The concept of digital currency has been around for a while now, and with the advent of blockchain technology, it has become more popular than ever. Central banks around the world have been exploring the possibility of issuing their own digital currencies, and some have already started piloting them.