Interesting facts about the banking system
The Bank is an organization providing financial services to the public. This is its main purpose. Today, the number of branches is more than enough in any large city, and…

Continue reading →

Bill circulation in the bank
Bill circulation exists in the economic life of various countries for several centuries. During this time, considerable experience has been gained in the use of bills of exchange; there are…

...

Deposit operations
According to the economic content of the deposit can be divided into groups: - demand deposits; - term deposits; - savings deposits. Deposits can also be classified according to other…

...

Bank accounts in the UAE: changes and innovations
Unfortunately, in the UAE there are only a few banks that work with offshore, it is: Emirates NBD, and the bank requires that the average monthly account balance be maintained…

Continue reading →

circulation

Bank accounts in the UAE: changes and innovations

Unfortunately, in the UAE there are only a few banks that work with offshore, it is:
Emirates NBD, and the bank requires that the average monthly account balance be maintained at least $ 137,000;
United Arab Bank, and the bank requires that the average monthly balance on the account be maintained at least $ 100,000;
RAK Bank, and the bank requires that the average monthly account balance be maintained at least $ 275,000.
In addition, in order to apply for opening accounts of offshore companies in these banks, the owner of the company (shareholder) must be a resident of the UAE – in order to have a rationale for why you need a bank account in the UAE. Continue reading

The reaction of the German banks mentioned in the “Panama scandal”

The day after the announcement of the “secret” documents of the Panamanian law firm Mossack Fonseca in the German newspaper “Munich” a statement by the German government appeared. This statement was due to the fact that the publications mentioned two German banks that had a relationship with the firm Mossack Fonseca. Their German government officials were quick to assure the public that measures would be taken to amend German law in order to prevent the anonymous use of companies. German Justice Minister Heiko Maas said that Germany is at the forefront in the fight against money laundering and the fight against terrorism. Continue reading

Types of money

Money currently exists in the form of cash and non-cash money.
Cash exists in the form of coins, banknotes (credit money, bank notes) and treasury notes.
Sometimes cash also includes checks and plastic cards. However, checks and plastic cards only represent non-cash money in bank accounts. By themselves, they cannot perform all the functions of money and therefore are not cash. Continue reading