Banking law is a law of financial transactions that deals with deposits, loans, consumer protection, bankruptcy and anti-money laundering agreements and banking law is a branch of law and banking law is a body of law in which large financial and industrial partners form an organization and manage and control the organization

and banking law according to a document of the financial institutions department of the ministry of finance, industrial partners manage the activities and transactions of the bank such as deposits, loans, etc., which mentions the protection of customers, proper service provision and stability

banking law: when we go to register with a banking institution, the bank staff makes us sign many forums and in those forums they provide legal agreements in addition to banking services, control, service provision, security, deposits, withdrawals, loans

Banking Law | How Does Banking Law Work? How Safe Are Banks

Banking law according to the bank act, a bank is a privately owned institution and they provide financial transaction facilities to their customers and financial transactions are mentioned in the customer service such as money loan from the bank, personal account creation and money deposit

but this service is associated with - interest rate. and when a customer borrows money from a privately owned institution, the institution has to pay interest according to a specified agreement and policy

on the contrary, if a customer deposits money in the fund of that institution, then according to the rules of the bank, the customer is given a profit as (%)

also, various banks provide insurance services and one-time money payment facilities and facilities for their customers

Uses, Transactions and Facilities of Banks | Banking Law

The role of a bank is indispensable for financial transactions and customers get services from the bank that are necessary, fast and efficient. also, a bank handles various types of financial transactions such as:

• Loans
• Deposits
• Withdrawals
• Cash transactions,
• Credit transactions
• Card payments
• Payments
• Bank transfers
• Trade finance
• Internal transactions
• External transactions
• Custodian services
• Bank statements
• Atm, Pos

although not limited to the services mentioned, a privately owned institution may have many more services and facilities

How Safe Is The Bank For Us? | Banking Law

If you are wondering how safe is the bank for you and is your money deposited in the bank 100% safe, then we will say- no, your money deposited in the bank is not 100% safe because sometimes a bank institution can go bankrupt and launder money with their customers but the good news is - there is nothing to fear

because all those banks work under the banking law, and the banking law is engaged in the work of returning the lost money of their customers by taking those institutions under the law

also, on the contrary, if a customer takes a loan from a bank institution and does not repay it, then that customer is taken under the banking law

if we think about the banking law and services of developed countries, then according to statistics, there are some banks in the United States of America where the money of customers is 100% protected by the FDIC and they have made it clear that without insurance, the bank is not a safe place to keep your money

Special Note: Banking law are generally governed by legal agreements between different countries and finance ministries, so banking law are effective according to the legal regime of the customer's own country