For inquiries, contact Atty. Al-zhain I. Sadjail

Cellphone : +63917-108-9411
E-mail address: taylorzero@yahoo.com
Addess:
FH&C
Surban Street (Beside Red Cross Dumaguete)
Dumaguete City, Negros Oriental, Philippines

Friday, December 17, 2010

Classification of Banks:

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1. Universal Banks – Primarily governed by the General Banking Law, can exercise the owners of an investment house and invest in non-allied enterprises and have the highest capilization requirement.

2. Commercial banks – Ordinary banks governed by the GBL which have a lower capitalization requirement the universal banks and cannot exercise the powers of an investment house and invest in non-allied enterprises.

3. Thrift banks- These are a.) Savings and mortgage banks; b.) Stock savings and loan associations; c.) Private development banks, which are primarily governed by the Thrift Banks Act (RA 7906).

4. Rural banks- mandated to make needed credit available and readily accessible on reasonable terms and which are primarily governed by the Rural Banks Act of 1992 (RA 7363)

5. Cooperative Banks- Those banks organized whose majority shares are owned and controlled by cooperatives primarily to provide financial and credit services to cooperative rural banks. They are governed primarily by the cooperative code (RA 6935).

6. Islamic banks- Banks whose business dealings and activities are subject to the basic principles and rulings of Islamic Sharia, such as the Al amanah Islamic Investment Bank of the Philipippnes which was created by RA 6848.

7. Other classification of banks as determined by the Monetary Board of the Banko Sentral ng Pilipinas. 

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