International World Banking

The World Bank and the Poverty System

The World Bank and Banking

linedividerThe banking System is a vital structure in a nation’s economy. It consists of a number of different elements. There are three types of banks. THE CENTRAL BANK. Most major countries have a single central bank which controls the monetary system. COMMERCIAL BANK.  They offer different kind of current account and lend money in the form of overdraft and loans. MERCHANT BANK. They are smaller specialized banks which provide services for large organization.
Accounting for trillions in assets worldwide, the banking system is a crucial component of the global economy. While money-changing and money-lending may be as old as money, banking dates back to 15th century medieval Italy, and played a major role in the rise of the Italian city-states as world economic powers. Ever since, the health of an economy and the health of its banks have been interrelated; the global credit crisis, precipitated by the collapse of the subprime-fueled U.S. housing bubble, is only the most recent example.
The World Bank is an international financial institution that provides loans to developing countries for capital programs. The World Bank’s official goal is the reduction of poverty. According to its Articles of Agreement (as amended effective 16 February 1989), all its decisions must be guided by a commitment to the promotion of foreign investment and international trade and to the facilitation of capital investment. The World Bank comprises two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).
The World Bank should not be confused with the World Bank Group, which comprises the World Bank, the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID).linedivider

(Visited 5 times, 1 visits today)

About Carl William Brown

I'm Carl William Brown a holistic teacher, a webmaster, a trader, and a writer of aphorisms and essays. I have written more than 9,000 original quotations and at present I'm also working at my only novel, Fort Attack, which is also a wide and open blog project. At the moment I'm teaching English in a secondary school, but up to now I have done a lot of other things as well, both in business, educational, sport and social fields. Some years ago, in 1997 following the examples of the Rotary or the Lyons Clubs I founded the Daimon Club Organization to promote every sort of activities, creativity, art, literature, new technologies, informatics, business and marketing, public health and education and to meet new friends with these kind of interests.
Tagged , , , , , , , , , , , , , . Bookmark the permalink.

Comments are closed.