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Definitions from WordNet

Definitions from the Web

Banking System

Definition:

A banking system refers to the network of financial institutions and processes that facilitate the circulation of money within an economy. It involves various entities such as banks, credit unions, central banks, and regulatory bodies, which work together to provide essential financial services, such as accepting deposits, lending money, and facilitating monetary transactions.

Sample sentences:

• The banking system plays a crucial role in the economy by providing a secure platform for individuals and businesses to manage their finances.
• John decided to open an account with a reliable bank as he wanted to make use of the benefits offered by the banking system.
• Regulations are implemented to ensure the stability and fairness of the banking system.
• The banking system has evolved significantly over the years with the introduction of online banking and mobile payment solutions.

Possible Related Products:

Explore related books on the banking system:

• Banking System Explained
• A History of Banking Systems
• The Role of Central Banks in Banking Systems