Banking, according to “The Nigerian Banker” (1983) is a business much like any other business; it has customers with which it transacts business.
According to the free online Dictionary “Banking” engage in the business of keeping money for saving and checking accounts or for exchange or for issuing loans and credit e.t.c.
A bank provides certain services for its customers such as keeping their money and leading money to them in one form or the other. Therefore, a bank can be defined as a dealer in money and in credits holding itself out to receive from the public deposit repayable on demand by cheque.
According to Wikipedia “Banking” in simple words, can be defined as the business activity of accepting and safeguarding money owned by other individuals and entities, and them lending out this money in order to earn a profit. The banking services these days include providing safe custody of valuable items, lockers, ATM services and online transfer of funds across the country / world.
According to Encyclopedia, American Economic Activity, as it is known in the Western World will not survive without a continuing flow of money and credit. The economics of all market oriented nation and states depend on the efficient operation of complex and delicately balanced systems of money and credit. Banks are indispensable element in these systems. They provide bulk of money supply as well as the primary means of facilitating the flow of credit.
According to the free online Dictionary “Banking” engage in the business of keeping money for saving and checking accounts or for exchange or for issuing loans and credit e.t.c.
A bank provides certain services for its customers such as keeping their money and leading money to them in one form or the other. Therefore, a bank can be defined as a dealer in money and in credits holding itself out to receive from the public deposit repayable on demand by cheque.
According to Wikipedia “Banking” in simple words, can be defined as the business activity of accepting and safeguarding money owned by other individuals and entities, and them lending out this money in order to earn a profit. The banking services these days include providing safe custody of valuable items, lockers, ATM services and online transfer of funds across the country / world.
According to Encyclopedia, American Economic Activity, as it is known in the Western World will not survive without a continuing flow of money and credit. The economics of all market oriented nation and states depend on the efficient operation of complex and delicately balanced systems of money and credit. Banks are indispensable element in these systems. They provide bulk of money supply as well as the primary means of facilitating the flow of credit.
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