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8.03.2) Bank: | de® 9h a There is no unanimous opinion as to when and how the word “Bank” was derived. But it Is assumed that this word derived, from the ancient Latin words “Barico” , “Bangk", “Bancus” and “Banque”. Meaning of these words is long bench. Once a class of people used to sit in the bench particularly in Lombardy street_of Italy for taking deposit and lending money as a banking business. Definition of Bank: Different authors have defined the “Bank” in different ways with a common principle to accept deposit from the public and lending the same to the borrowers. Some important definitions are: “A bank is an establishment which trades in money, and establishment for deposit custody and issue of money, and also granting loan and discounting bills and facilitating transmission of remittances’ from one place to another” ... from Imperial Dictionary. 08-03-2017 Definition of Bank: = “An organization through-Which funds in the form of money of~Claim to money are assembled and Aransferred from those individuals and/Airms having a surplus of economic goods(as_ represented by such funds) to other individuals & firm whose needs for funds exceed their existing supply” .-» from Rollin G. Thomas. “Banking” means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and ‘withdraw able by cheque, draft, order or otherwise. .-from The Bank Company Act, 1991 Definition of Bank: = In the context of risk management in the banking business it may be defined as: = Collecting/accepting of fund from the public for investing/lending of the same to earn optimum level of return by managing all relevant risk factors involved therein. The core risks in the banking business are - + Credit Risks + Asset and Liability/Balance Sheet Risks « Foreign Exchange Risks + Internal Control and Compliance Risks + Money Laundering Risks » IT Risks @ Bangladesh Bank has provided required guidelines in the form of a manual against each risk. 08-03-201

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