Am going to talk about Banking System today check it out!
BANKING SYSTEM
Bank is a Commercial Institution which perfform various financial activities e.g accepting and handling of deposit of it's customer. It is a a body of person who carry on the business of banking. Banks are institution that create money and give out Loan to people.
In a summary a bank is a place where money and other valuables like Will, jewelry etc are kept.
ORIGIN OF BANKING
Banking had it's origin with the goldsmith in London in the seventeenth century,. The goldsmith facilitate for storing valuables terefore they accepted money and other valuables from merchant for safekeeping.
In recent times, banks have introduced more sophisticated system of banking into the industry.
TYPES OF BANKS
- Commercial Bank
- Central Bank
- Merchant BANK
- Savings Bank
- Development Bank
[Source](steeemit.