Advantages And Disadvantages Of Banking System

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BML Savings Account 1. The accounts in the bank will hold the initial deposit amount which the customers deposit at the time of opening the account. Customers will be able to get the sum of the money while closing the account. For instance, the initial deposit amount of MVR200/- will be held in the customers’ saving accounts at Bank of Maldives. 2. Customers can apply for debit cards and cheque book facility for the accounts. 3. A reward will be credited to the customers’ account annually, in the form interest at Bank of Maldives. 4. Customers can open Euro Savings Account at Bank of Maldives. 5. Bank of Maldives have to initially deposit 200 Rufiyaa, 50 US Dollars and 100 Euros in order to open the account. 6. Customers who have opened Savings Account at Bank of Maldives will receive interest once in every year. BML Vessel Financing 1. Customers should keep a collateral or a security…show more content…
On the off chance that you have to pull back singular amount cash procedure is long even it's your cash. On the off chance that you aren't paying the charge card they can pursue every one of your properties. On the off chance that you are paying late you need to charges. Utilization of influence means everyone can't pull back store in the meantime, which would bring about a keep running of the banks and encourage bank disappointments and wretchedness. People can't contend with banks to gain high enthusiasm on obligations of comparable quality. Conclusion Bank of Maldives has turned into a built up business bank, lessening government impact may decrease conceivable outcomes of defilement, odds of misuse of force, and possibility of utilizing bank's assets for political focal points. It can likewise help in better allocation of scarce capital assets, and powerful improvement of the money related area. Therefore the quantity of clients are expanding step by

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