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The different types of bank
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[QUOTE="btaliat, post: 254804, member: 26390"] Banks are financial institutions that deal with how money are used for transaction. There are many different types of bank. And these type may vary from countries to countries. However, the major ones include the following: Commercial Bank: this is the most popular among the types of banks. They are always many and serve as customers bank. Citizens are allowed to have some accounts which include saving, current, fixed and domiciliary accounts with them. Most time, they offer loans to their customers and advice them on some various financial matters. They are mostly owned by shareholders and they are always public limited liability which means individuals can also buy shares from them. Central Bank: there is only central Bank im each country. They are responsible for the printing and minting of currency. They serve as banker's bank. Commercial Banks always run to the central bank whenever they are in dire need of money and they also save with central bank. Central bank is owned by the government to regulate the financial institutions of the country. Development Bank: this type of banks are created for some development of some projects. A typical example I'm Africa is African development banks which always help in matters like agriculture. [/QUOTE]
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