If you travel outside your native country, you need to change your own country's money for the money of the country you are visiting. You can exch...
The introducing of electronic computers has brought about a profound revolution in the banking area. It has not only been changing the low efficiency ...
Interest is a reward which is paid by the borrower to the lender for a loan. It always coexists with credit. Where there is Credit, there should be in...
There are two basic financial statements: the balance sheet and the operations statement. The balance sheet shows the firm's condition on the last...
The basic principle of double entry bookkeeping is that every transaction has a twofold effect. In other words, a value is received and a value is yie...
Every bank must make payment for checks （notes） drawn on funds deposited with it. And every bank must collect payment for checks （notes） deposited wit...
Banks provide most of the credit our economy needs by making loans to enterprises, individuals and governments. Banks also accept discount on promisso...
Business lending is an important part of banking because it provides small to medium sized businesses the opportunity to grow quicker compared to self...
Corporations can achieve short term financing through a bills facility, however for long term financing the best method is for them to issue a bond in...
Remittances are part of a bank's international services and are divided into two categories, inward and outward. An inward remittance is where a f...