Commercial Banks

False

True

True

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>Proper management of customers’ trust and execution of wills = Safe custody of valuable goods Purchase and sale of foreign currencies = Facilitating buying and selling of foreign currencies Finance of internal and foreign trade = Discounting exchange bills and issuing letters of credit Issuing credit cards = Providing plastic cards for purchasing goods and accessing cash</p> Signup and view all the answers

<p>Central Banks = Responsible for formulating monetary policy and regulating the country's money supply Commercial Banks = Provide a range of financial services including accepting deposits, lending money, and facilitating transactions Investment Banks = Specialize in providing services related to the creation of capital for companies, governments, and other entities Retail Banks = Serve individual customers and provide basic banking services such as savings and checking accounts</p> Signup and view all the answers

<p>Wealth Management = Service that helps clients manage their investment portfolios and financial planning Foreign Currency Exchange = Allows customers to buy and sell foreign currencies for travel or investment purposes Lending Money = Providing funds to individuals and businesses with the expectation of repayment with interest Facilitating Transactions = Assisting in the smooth processing of financial activities such as transfers and payments</p> Signup and view all the answers

<p>Issuing Credit Cards = Providing customers with a plastic, magnetized card for purchasing goods and services or withdrawing cash Safe Custody Services = Offering locker facilities for customers to store valuable items such as gold, silver, and important documents Underwriting Company Debentures = Instilling public confidence in debentures by attaching the bank's signature and charging underwriting commission Accepting Utility Bills = Accepting electricity and water bills from the public and paying the value to the respective companies on behalf of the customers</p> Signup and view all the answers

<p>Central banks = Oversee monetary policy and regulate the banking industry Commercial banks = Accept deposits and provide loans and basic banking services Investment banks = Specialize in complex financial transactions and advisory services Modern functions of commercial banks = Include investment of funds, financing internal and foreign trade, promoting the use of cheques, safe custody of valuable goods, issuing of travelers' cheques, underwriting of company debentures, giving advice on financial and economical matters, transfer of funds, collecting funds on behalf of customers, and sale of shares and securities for its customers</p> Signup and view all the answers

<p>Investing money in funds = Pooling money of different investors and investing in assets such as stocks, bonds, and real estate The cheques system = Reduces the use of cash and provides a secure way to transfer money from one country to another Banks help customers transfer funds = From one place to another and between accounts Banks act as trustees = Executing wills and looking after the funds of customers</p> Signup and view all the answers

<p>Banks assist private companies and governments = In selling their shares and securities on their behalf Banks collect funds on behalf of customers = From other banks or parties Banks fulfill the desires of deceased customers = In terms of their wills Banks provide safe custody of valuable goods = Offering locker facilities for customers to store items such as gold, silver, important documents, shares, and bonds, charging an annual rental for this service</p> Signup and view all the answers