7 Definitions of Bank According to Experts and Their Functions (Complete)
7 Definitions of Bank According to Experts and Their Functions (Complete) – In plain view, we know that a bank is a place for saving money, lending money and investing in an official and trusted institution. Almost all people take advantage of the existence of a bank.
7 Definitions of Bank According to Experts and Their Functions (Complete)
However, it is necessary to know what a bank really is and what its functions are for the community. On this occasion, aroundknowledge.com will discuss the definition of a bank according to experts and the functions of the bank itself.
Definition of Bank According to Experts
Here are some definitions of bank according to experts:
1. According to Law No.7 of 1992
The definition of a bank is a business entity that collects funds from the public in the form of deposits and distribute it to the community in the form of credit and or other forms in order to improve living standards many people.
2. Encyclopedia of Financial and Trade Economics
Bank is one type of financial institution that performs various services such as providing loans, circulating currency, supervising the circulation of currency, acting as a depository for money or valuables and financing businesses company.
3. Prof. G. M. Verryn Stuart
In his book entitled Political Bank he explained the bank as a business entity that aims to provide credit, either with money itself or money borrowed from other people, and circulating a medium of exchange in the form of banknotes and money giral.
4. Cashmere
According to him, the bank is known as a financial institution whose main activity is accepting demand deposits, savings and time deposits. Then the bank is also known as a place to exchange money, transfer money or receive all forms payments and deposits such as telephone payments, electricity, taxes, tuition payments, buying and selling and payments other.
5. Drs. Q Gilarso, SJ.
Explains that a bank is a financial institution whose main business is collecting funds, providing credit and other services in payment traffic and money circulation.
6. Rachmadi Usman
Argues that a bank is a financial institution that serves the public interest in all forms of related transactions all interests of parties who use bank services, without neglecting the bank's profits, either directly or indirectly direct.
7. Zamroni S.Pd
Of the opinion that a bank is a state-owned or private enterprise whose function is to collect public funds in the form of savings and distribute it to the community (individuals, groups and companies) in the form of credit.
Banking Functions
In general, the function of a bank is to collect funds from the public and channel it back to the community for various purposes. There are three main functions of a bank, including the following:
1. Agent of trust
Namely an institution whose foundation is trust. So, the main basis of banking activities is trust, both in raising funds and in channeling funds. So that people will believe in depositing their funds in the bank if it is based on trust.
2. Agent of development
Namely institutions that mobilize funds for community economic development. Community economic activity in monetary sector And real sector can not be separated. These activities enable the community to invest, distribute and consume goods and services, bearing in mind that these activities cannot be separated from the use of money. The smooth running of investment, distribution and consumption activities is none other than one of the economic development activities.
3. Agent of services
Apart from collecting and channeling funds, banks also function to provide services to the public in the form of offering banking services such as money transfer services, safekeeping of valuables and so on as well as providing a sense of security and comfort to the people who use it his services.
So that's a brief discussion about 7 Definitions of Bank According to Experts and Their Functions (Complete), hopefully useful and thank you so much 🙂
Also read:
- Definition of Commercial Banks, Duties, Functions, Types and Activities
- Types of Money and Nature of Money (Full Discussion)
- Definition of Central Bank, Commercial Bank and Their Functions (Complete)
- 5 Definitions of Financial Institutions According to Experts (Discuss Completely)
- Types of Financial Institutions in Indonesia and Their Explanations
List of contents
Recommendation:
- 31 Benefits of Tomatoes for Skin Health & Beauty 31 Benefits of Tomatoes for Health & Beauty Facial Skin - Tomatoes are one of the plants found in South America, tomatoes are in the family of green or red peppers, potatoes. Amongst the community…
- 27 Definition of Curriculum According to Experts and Its Components 27 Definition of Curriculum According to Experts and Its Components - The world of education cannot be separated from the curriculum. In this discussion, we will discuss what is curriculum and what are the components...
- √ Definition of Libraries, Functions, Purpose, Types & Roles… Complete Definition of Libraries, Functions, Purpose, Types & Roles - In this discussion we will explain about libraries. An explanation that includes the definition of a library, library functions, library purposes, types of libraries and their role...
- 27 Understanding of the City According to Experts (Full Discussion) 27 Definition of a City According to Experts (Full Discussion) - What comes to your mind when you hear the word city? Maybe some of you imagine that the city is a place to live, birthplace,…
- Short Story Text: Definition, Characteristics, Structure, Elements and Examples Short Story Text: Definition, Characteristics, Structure, Elements and Examples - What is Short Story Text? On this occasion, Seputarknowledge.co.id will discuss short story texts and the things that surround them. Let us…
- √ Definition of Guidance and Counseling, Purpose, Functions and… Definition of Guidance and Counseling, Purpose, Functions and Principles - In this discussion we will explain Guidance and Counseling. Which includes the meaning, purpose, function, principles of guidance and counseling with discussion of…
- Definition of Educational Institutions According to Experts (Discuss… Understanding Educational Institutions According to Experts (Full Discussion) - Education is needed by anyone, from the time humans are born onto the face of the earth until the end of their lives. Previously, it has been explained about the meaning of education and times...
- Belief in the Last Days: Definition, Proof, Signs of the Last Hour,… Belief in the Last Days: Definition, Propositions, Signs of the Last Days, Events at the End of Days, Their Functions and Lessons - What is the Meaning of Faith in the Last Day and Its Benefits?
- Example of a Non-Fiction Book Review: Purpose and Benefits of a Review Example of a Non-Fiction Book Review: Purpose and Benefits of a Review - What is meant by a non-fiction book review?
- √ Definition of Money Market, Objectives, Functions, Characteristics, Benefits,… Definition of Money Market, Objectives, Functions, Characteristics, Benefits, Actors, Instruments & Types of Transactions - In this discussion we will explain about Money Market. Which includes the definition of money market, purpose, function,...
- 19 Definitions of Money According to Experts and Their Functions (Complete) 19 Definitions of Money According to Experts and Their Functions (Complete) - Who is the person who does not know money? There are many riots, household rifts, divisions, corruption, all because of money. Money for some...
- The Constitution Is: Definition, Function, Purpose, Type, Space… Constitution Is: Definition, Function, Purpose, Type, Scope and History - What is meant by a constitution? On this occasion, Seputarknowledge.co.id will discuss what is the constitution and what surrounds it.…
- √ 22 Definition of Capital Market According to Experts (Discuss… 22 Definition of the Capital Market According to Experts (Full Discussion) - In this discussion, we will explain about the capital market. Which explanation is the understanding of the capital market put forward by...
- Environmental Speech: Definition, Purpose, Characteristics and… Environmental Speech: Definition, Purpose, Characteristics and Examples - How is the text of environmental speech structured? what's good and right?, On this occasion, Seputarknowledge.co.id will discuss it and of course things Which…
- Communism Is: Definition, History, Characteristics, Figures and Impacts… Communism Is: Definition, History, Characteristics, Figures and Impacts of Communism - What is meant by Communism and Communism? On this occasion, Seputarknowledge.co.id will discuss whether it is communism or communism…
- Village Community Institutions (LKD): Definition, Functions,… Village Community Institutions (LKD): Definition, Functions, Purpose, Purpose, Position, Duties, Obligations, Types, Requirements and its structure - In this discussion we will explain Village Community Institutions or abbreviated LKD.…
- Exhibition Purpose: Definition, Functions, Benefits, Types, Elements… Exhibition Purpose: Definition, Functions, Benefits, Types, Elements and Principles of Exhibition - What is meant by an exhibition or exhibition? On this occasion, Seputarknowledge.co.id will discuss what an exhibition is and what…
- Faith in Qada and Qadar: Understanding, Proof, Wisdom and… Faith in Qada and Qadar: Definition, Proposition, Wisdom and Their Functions - What is meant by Faith in Qada and Qadar?
- √ 8 Social Control Institutions, Their Functions, Forms & Characteristics 8 Social Control Institutions, Types, Functions, Forms & Characteristics - We know that there are many institutions that we can find in Indonesia. There are institutions in Indonesia that have…
- Arbitration: Understanding According to Experts, Legal Basis,… Arbitration: Understanding According to Experts, Legal Basis, Terms, Purpose, Types, Benefits and Examples - What is Arbitration? On this occasion, Se regarding the knowledge.co.id will discuss it and of course about other thing…
- Friendship Short Stories: Definition, Writing Tips and Examples Friendship Short Stories: Definition, Writing Tips and Examples - What are Friendship Short Stories like? On this occasion, Seputarknowledge.co.id will discuss whether it is the Short Story of Friendship and other things about it. Let's see together…
- √ Types of Financial Institutions in Indonesia and… Types of Financial Institutions in Indonesia and Their Explanations - The financial institution that we know is an entity businesses engaged in the financial sector by providing storage services, distribution and lending of funds to the…
- Standby Scout Material: Ranks, Honor Codes and Requirements… Standby Scout Materials: Ranks, Honor Codes and General Proficiency Requirements - What are the materials for alert level scouts? On this occasion, Seputarknowledge.co.id will discuss it, including the level of alert scouts,…
- √ Definition of the Five Senses, Types, Kinds and Functions Definition of the Five Senses, Types, Kinds and Functions - On this occasion, Around Knowledge will discuss the meaning of the five senses. Which in this discussion explains the meaning of the five senses, types,…
- Papers: Definition, Characteristics, Functions, Types, Structures, Methods… Papers: Definition, Characteristics, Functions, Types, Structure, How to Make and Examples - What is meant by Papers and how to write them properly and correctly? On this occasion Seputarknowledge.co.id will…
- 30 Understanding of Democracy According to Experts (Discussion… 30 Definition of Democracy According to Experts (Full Discussion) - This discussion will explain what it is about the literal meaning of democracy and in terms as well as the notions of democracy explained by the experts.
- 51 Complete Understanding of Law According to Experts 51 Understanding of Law According to the Most Complete Experts - Everyone is familiar with the word "law" because everyone will be bound by law, be it state law, religious law,…
- Motivational short stories: definition, writing tips and examples Motivational Short Stories: Definition, Writing Tips and Examples - What is a Motivational Short Story?, On On this occasion, Seputarknowledge.co.id will discuss whether it is the Short Story of Friendship and other matters about it. Let's see…
- Class 6 Farewell Speech Text: Main Contents, Characteristics,… Farewell Speech Text for Class 6: Main Contents, Characteristics, Purpose and Examples of Speeches - What is the composition of the text of farewell speech for class 6 which is good and true and touching?
- Types of Social Institutions and Their Explanations (Discuss Completely) Types of Social Institutions and Their Explanations (Full Discussion) – On this occasion, Around Knowledge will discuss about Social Institutions. What are we going to talk about that? We will discuss the types...