Banks of every shape and size 152SIS13 Minjae Lee

Variety of banks Commercial banks Building societies Savings and loan associations Credit unions Investment banks

Variety of banks Casualties Offshore financial centers and tax havens Islamic banking Microfinance

Commercial banks 〈 Savings Interests Interests Loans

Commercial banks

Building societies Credit unions S&Ls Groups of people came together to save funds and help each other buy houses Mostly converted to banks

Building societies Credit unions S&Ls Savings & Loan associations US version of building societies Early 1990s restrictions ↓ ∴ Many goes to bust

Building societies Credit unions S&Ls Established in places too poor or remote to have banking service Non-profit organizations

Investment banks

Investment banks Advising companies engaged in mergers and acquisitions Help companies issue shares Advise price Guaranteeing or underwriting by buying shares not taken

Casualties

Casualties

Offshore financial centers and tax havens Branches in small countries that have no significant trade Four criteria -An almost total lack of offshore direct taxation -Weak local economic activities -Impenetrable tax rules -A lack of disclosure of information to the tax authorities of other countries

Islamic banking Sharia Law Invest in unethical industries Use wealth judiciously Saving wealth

Islamic banking ?

Microfinance Grameen Bank Replace collateral with trust Women join together in small groups Women get training and other supports One member does not repay, all the members suffer

Microfinance

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