Introduction of National Bank

Further the substance in charge of supervising the money related framework for a country (or gathering of countries). National banks have an extensive variety of obligations, from managing financial approach to executing particular objectives, for example, cash steadiness, low expansion and full business. National banks additionally by and large issue money, capacity as the bank of the administration, control the credit framework, regulate business banks, oversee trade saves and go about as a loan specialist of final resort.

All this remark less performance of MCB has earned it many awards like “The Best Bank of Pakistan” award consecutively for two years; 2008 and 2009. The award was given by “Euro Money” a leading international publication.

Secondly, out of the twenty-five stockholders of the Bank, five of these were government owned. Thus showing support of the Bank by subscribing to one-fifth of its $35 million (Schlesinger 74). In addition, among the Bank’s functions was to hold all government money, sell all government bonds, and make commercial loans. However, no voters could dictate its policies or reign in its power, due to its privately owned status (Roughshod 2). Finally, the government also allowed bank notes to be used as payment for taxes.

The history of central banking in America is a very interesting topic that carries a direct impact on today’s banking. The paper focuses on how the centralized banking system started with special emphasis on the First and the Second banks of America and the inception of the Federal banking system. Highlighted also are the circumstances that led to the established of the financial organs alongside the relevance of the Federal Reserve today (Fischer, 2015). The topic directly impacts on how financial crisis and all the economic challenges are being handled today. The Federal Reserve is still the one which regulates all the fiscal activities of America. The Federal Reserve refers to the centralized banking organization of America. The banking system was established early in the 20th century through the adoption of the Federal Reserve legislation. The inception of the central system was majorly triggered by a sequence of fiscal worries specifically the famous 1907 fright. The Federal Reserve Act had notably passed through several hearings, debates alongside changes and was upheld by the majority in the congress. The Federal Reserve System came as the third central banking system of America, after the first and the second banks of America (Bordo, 2015).

The stock of the bank was bought and held mainly by the US government and numerous businessmen among the states of the Union. It paid interest on public debt, issue a national currency, dealt in foreign exchange, paid government officials, and numerous other tasks. It was both a private and public institution but if asked by the Treasury, it would have to open its books to inspection.

Succession planning is an ongoing part of organizational development and sustainability in for profit and non-profit organizations. Effective succession planning requires a high calibre of adequate partnership between the current leader of the organization and the board of directors. The governance of Nationwide Building Society is the fundamental purpose of the Board. It is the Board, acting on behalf of the members/users, which direct and control the organization, with the management and staff then implementing policy. Although board succession is important there are some challenges such as:

With this title two new government departments are created The Financial stability Oversight Council and the Office of Financial Research. The authority of the Board of Governors of the Federal Reserve System is it expanded also to allow them to supervise nonbank financial companies and certain bank holding companies that could affect the health of the country’s economy.

“National bank means a national banking association or a Federal branch or agency of a foreign bank.” 12

The board of directors holds a very critical management function within or organization with the following criteria essential for membership:

These banks should ideally be divested of any sort of commercial interest, and must act in the best interest of its nation’s economic stability. A lot of meaning is carried out in being identified as ‘independent’ authority, where the bank possess powers to take its own decisions, approve its own legislature, follow its own policies and offer stability to the nation’s economy.

Punjab National Bank was registered on 19 May 1894 under the Indian Companies Act, with its office in Anarkali Bazaar, Lahore. The founding board was drawn from different parts of India professing different faiths and a varied back-ground. PNB 's founders included several leaders of the Swadeshi movement such as Dyal Singh Majithia and Lala Harkishan Lal, Lala Lalchand, Shri Kali Prosanna Roy, Shri E.C. Jessawala, Shri Prabhu Dayal, Bakshi Jaishi Ram, and Lala Dholan Dass. Lala Lajpat Rai was actively associated with the management of the Bank in its early years. The board first met on 23 May 1894.The bank opened for business on 12 April 1895 in Lahore. PNB has the distinction of being the first Indian bank to have been started solely with Indian capital that has survived to the present.

Loaning history was very old, no one can give the exact date of its inauguration but in Pakistan it was started when ZaraiTaraqiati Bank formally known as Agriculture development Bank was developed, weather of State Bank of Pakistan has allow the private and commercial banks to give the loans to the famers now the disbursement of

The Bank of Punjab was established on 16 November, 1989 under. The Bank of Punjab act 1989. the first Branch which opened was the Main Branch Lahore. In 1989 BOP was mended as a non – scheduled bank on in the province of Punjab.

This study is undertaken to understand the concept and features of Islamic banking and conventional banking, the similarity and differences between the two systems and their economic implications. Generally, a financial institution or a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets is given the name of bank. its source of generating revenue and cost of funds is charging of interest through lending and also accepting deposits for interest respectively. Interest is the major driver of operations of conventional banks although other valuable services including guarantees, funds transfers, safety of wealth, facilitation in international trade etc., also form a substantial part of income of banks.

Silk Bank maintains its position as Pakistan's Premier Bank determined to set higher standards of achievements. It is the major business partner for the Government of Pakistan with special emphasis on fostering Pakistan's economic growth through aggressive and balanced lending policies, technologically oriented products and services offered through its large network of branches locally, internationally and representative offices. Banks new identity Silk bank –