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Bank Deposits

Know Your Client guidelines

It is essential for banks and other financial institutions to conduct thorough due diligence on their investors. This involves verifying the identity of the client and ensuring that there is no potential for money laundering. This process is crucial in maintaining the integrity of the financial system and protecting the interests of both the institution and its clients.

Demand deposits

Deposit refers to the money that a bank receives from a customer, which can be withdrawn at any time by the customer. In banking terms, this is known as a demand deposit, as...

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Co-operative banks

In today's financial landscape, we often hear about banks operating under a co-operative model of ownership. This refers to a structure where a group of individuals come toge...

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Simple Interest

In the world of finance, one of the fundamental concepts is simple interest. It involves multiplying the interest rate by the principal amount and the number of periods. Unl...

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Borrower

A borrower, whether an individual or a company, is someone who obtains money from a lender for a specific purpose. The borrowed funds are utilized for a set period of time, ...

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