1. International banking law The international banking law governing the banking system has certain legislative and regulatory provisions in the banking system. The international banking law consists of different parts each addressing a different banking service.

2. The international banking law is governed by the Commissioner of banking and has twelve parts: The twelve parts deal with different banking operations.

3. The international banking law encompasses the following: Part 1 deals with basic facilities including the definitions of the term “deposit” and the “deposit taking business”

4. Part 2 deals with “control of deposit taking businesses” which consist of details of the individual who can carry out the deposit and the exclusions thereof This international banking law also governs the repayment in the event of unauthorized deposits, profits from the same.

5. Part 3 deals with administration. This part deals with the election or appointment of a banking commissioner also banking supervisor, maintenance of license write up. This part of international banking law also takes care of administrative facilities.

6. Part 4 deals with Licenses. This part includes eligibility for permitting the approval of licenses, duration, application, deviations, and conditions of capital necessities.

7. Part 5 deals with responsibilities of licenses. Applying restriction, and imposition on the same.

8. Part 6 deals with opposition to controllers. This part of the international banking law deals with the provisions for the limitations of the selling of shares

9. Part 7 deals with the “supervision of deposit taking businesses”. This part of the international banking law deals with details, investigations of premises or areas, related documents

10. Part 8 deals with cancellation of the licenses. This part of the international banking law deals with conditions of cancellation, instructions on cancellation and returning or giving the licenses back.

11. Part 9 deals with “prohibitions and notifications” connected with reputed financial institution.

12. Part 10 deals “appeals”. In the event when an individual has to appeal to the supreme court, the control or powers of the supreme court. Part11 deals the miscellaneous provisions or facilities.

13. Part 11 of the international banking law deals with preparations on the limitations of the usage of the words or terms like “bank”, “trust”, wrapping up of authorized institution and also includes the infringements under the international banking law.

14. Part 12 of the international banking law deals “transitional provisions”.

15. Legal regulation of banking activities in the developed countries is usually based on a large number of special laws, among which are the central bank law and general banking law.

16. Central bank law, as a rule, is primary against another banking law and has fundamental importance, as laying the legal foundation for the state monetary policy. In most countries, such laws have been adopted relatively recently (USA - 1913, Japan - 1942, Great Britain - 1946, Finland - 1925), reflecting the stability of the central bank.

18. Banking law usually defines the banking institutions, establishes the procedure of creation and closure of banks, the protection of clients. Such law is mostly general and monetary policy is based, as a rule, on a central bank law or any special law.