Importance of banking law

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BANKING LAW
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• Banking law refers to a set of legal principles
  which affect banking transactions and the
  relationships that result from them.
• Banking law in general is a part of the Law of
  Merchants or the Lax Moratoria.
• In fact there are several other diverse
  sources of banking law like
• common law
• statutes
• equity
• contract

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• While some believe that the word bank owes
  its origin to the German word Banc meaning a
  joint stock firm, others hold the view that it
  has been derived from the Italian word Banco,
  meaning a heap, which, at that time probably
  denoted the amassing of money or securities with
  a joint stock firm.
• Still others believe that the Greek word
  Banque, meaning a bench, is the source of the
  word. The Jews used to enter into money
  transactions sitting on benches in the market and
  when a banker was unable to meet its obligations,
  the bench was broken into pieces and he was
  considered
• bankrupt.

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• It was in 2000 BC itself that the Babylonians had
  developed a banking system.
• Around the same time, the Greeks too had
  developed a similar system. Temples became the
  centre of banking transactions in the two places.
  
• Banking at this time was confined to
  money-lending only and it was primarily the Jews
  who were involved in the transactions. With the
  development of trade and commerce, however, the
  Christians too entered the business. 
• The Bank of Venice was the first banking
  institution to be established in1157 in Italy.

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• It used to accept deposits which could be
  transferred from one account to another or
  demanded or drawn from the account.
• The first Central Bank to be established was the
  Sveriges Riksbank in 1668, which was followed by
  the Bank of England in 1694.
• Banking law today is a vast and dynamic area
  of law. It seeks to govern banking transactions
  which are of fundamental importance to economies
  as well as individuals and thus its significance.
  Most of the nations have now drafted legislations
  to regulate the functioning of banking
• institutions.

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• It makes for a challenging and interesting area
  of legal practice. However, this multidimensional
  subject, at times, gets difficult for students to
  grasp, as a result of which, they end up getting
  low marks in their banking law
• assignments.
• For times likes these and other, our team of
  banking law experts provide excellent quality
  banking law assignment help that will only lead
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  understand the subject. 

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• BANKING LAW  
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