2 April 2025

Banking

Banking refers to the financial business of accepting deposits from customers, providing loans, and offering a range of related financial services. It involves financial institutions, known as banks, which serve as intermediaries between individuals or entities seeking to invest money (depositors) and those needing funds (borrowers). Banks typically provide services such as checking and savings accounts, mortgages, personal loans, business loans, investment services, and wealth management. The banking system plays a crucial role in the economy by facilitating monetary transactions, supporting credit creation, and helping manage risks associated with financial activities. Regulatory frameworks govern banking operations to ensure stability, consumer protection, and proper conduct within the financial system.