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    Abdul Majid
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    A bank is an organization chartered by a government to accept deposits, make loans and investments, process payments, and issue financial instruments. It receives demand and time deposits, pays interest on accounts, discounts notes, makes loans, invests in securities, and provides check cashing and certification services.

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    A bank is an organization chartered by a government to accept deposits, make loans and investments, process payments, and issue financial instruments. It receives demand and time deposits, pays interest on accounts, discounts notes, makes loans, invests in securities, and provides check cashing and certification services.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    5 views1 page

    Definition

    Uploaded by

    Abdul Majid
    A bank is an organization chartered by a government to accept deposits, make loans and investments, process payments, and issue financial instruments. It receives demand and time deposits, pays interest on accounts, discounts notes, makes loans, invests in securities, and provides check cashing and certification services.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    013943

    An organization, usually a corporation, chartered by a state or federal government,


    which does most or all of the following: receives demand deposits and time deposits,
    honors instruments drawn on them, and pays interest on them; discounts notes, makes
    loans, and invests in securities; collects checks, drafts, and notes; certifies depositor's
    checks; and issues drafts and cashier's checks.

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