Anyone need to consider the following points while opening a bank account: 1) Location of Bank: Before opening an account, a depositor considers location of bank from his/her business centre or his/her residence. 2) Efficiency: Efficiency of the employees of bank is one of the issues to be considered before opening a bank account. 3) … Read more
Banks offer scopes for opening various kinds of accounts according to their clients’ demand. Bank accounts can be categorized into the following types based on people’s occupation, need, time, location and demand: 1) Current Account 2) Savings Account 3) Fixed Deposit In addition to the above three accounts, banks offer following more types of accounts … Read more
Concept of Bank Deposit Deposit is the main source of banking business. Deposit can be collected in many ways. In particular, commercial banks collect deposit through opening different bank accounts on the basis of needs of the clients and organization. Generally, commercial banks collect deposit through current, savings and fixed accounts and then utilize it … Read more
The Concept of Central Bank During the 17th century, different kinds of banks were evolved in different regions; thus the money market controlling activity become most important activity. From this realization central bank was established. This bank couldn’t leave money market in its own way rather it was liable to control the money market mechanism. … Read more
Central Bank acts as a controller of money market and thus provides services towards the government, public and other banks and overall acts as a development body of the country. General Functions 1. Notes and currency circulation: Responsibility of circulating the money and currency is only vested upon central bank. 2. Guardian of the money … Read more
Without one or two exceptions, all central banks of the world are formed under government ownership. In Bangladesh, central bank is known as “Bangladesh Bank”. In Bangladesh Bank, as a chief of management, Governor is performing his responsibilities. As a chief of executive, deputy governors are co-operating the Governor. In 1971 Bangladesh was born as … Read more
From the view point of economic activity, specially as a guardian of money market, central bank has following relationships with the commercial bank:
Bangladesh Bank has great contribution in economic development of Bangladesh. Bangladesh Bank mainly: 1) Issue Notes. 2) Maintain the foreign currency reserve. 3) Conducts Government’s Account. 4) In distributing the industrial and agricultural loan, this bank executes the policy of the government through commerical banks. 5) Controls scheduled and non-scheduled bank’s activities and Monitoring Cell … Read more