Banking in the Bahamas

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Banking in the Bahamas

• By Pharhon Mckenzie
• Grade8A1

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Definition of Terms
Fix Deposits
Loans
Checks
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LOANS

• A loan is a sum of money lent at interest.

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FIXED DEPOSITS

• A fixed deposit is a charged for a loan, usually
  a percentage of the amount.

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CHECKS

• A check is a written order directing a bank to
  pay money.

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Banking
The history of Banking.
What is Banking?
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The History of Banking

• The name of the first Bahamian banker was
  Mr.
• The first Bahamian owned bank was the People
  Penny Savings Bank.
• The first bank built in the Bahamas was The
  Royal Bank of Canada.
• Banking is the second largest industry in the
  Bahamas.

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What is Banking

• Banking is the business of providing service to
  its customers.

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Types of Banking

• There are two types of banks, both offer
  different services.

Commercial pays no taxes gives interest a
national bank
Offshore pay taxes doesnt give interest an
international bank
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CONCLUSION

• I have learned about the different types of
  banking, their transactions and their history.
  Banking is key in every country, these services
  provide legal and regulatory control for monetary
  and foreign exchange.