INTERNAL CONTROL SYSTEMS NOTES

What is Internal Control System?  The internal control structure of a company consists of the policies and procedures established to provide reasonable assurance that specific entity objectives will be achieved. Objectives of Internal Control System To ensure that the business Read More …

Share this:

CUSTOMERS BANK ACCOUNT NOTES

Different types of bank accounts serve different needs. Depending on your goals, it’s wise to put money into the best account and use the right tools for spending and saving. Doing so allows you to maximize the return from your Read More …

Share this:

OTHER BANKING SERVICES NOTES

The Central Bank is the banker for the government, encompassing the national government, government ministries, departments & agencies (MDA’S) and county governments. These institutions hold a variety of accounts with the Central Bank, depending on their needs, which allow them Read More …

Share this:

MONEY TRANSFER SYSTEMS NOTES

What is a money transfer? A money transfer is when you transfer money from your credit card and pay it into your bank or building society account. It will form part of your credit card balance and is subject to Read More …

Share this:

LENDING NOTES

What Is a Lender? Lenders are businesses or financial institutions that lend money, with the expectation that it will be paid back. The lender is paid interest on the loan as a cost of the loan. The higher the risk Read More …

Share this:

CREDIT CREATION NOTES

Credit creation separates a bank from other financial institutions. In simple terms, credit creation is the expansion of deposits. And, banks can expand their demand deposits as a multiple of their cash reserves because demand deposits serve as the principal Read More …

Share this:

KENYA MONETARY INSTITUTIONS NOTES

Financial institutions are needed to resolve the problems of imperfect markets. They receive requests from surplus and deficit units on what securities are to be sold. They use this requests to match up buyers and sellers of securities in this Read More …

Share this:

EVOLUTION OF BANKING NOTES

History of banking Earliest Banking Systems It is impossible to say exactly when banking properly began. We do, however, have evidence that it may have started to properly occur around 8000 BC, although these were not banking in the way Read More …

Share this:

MONEY NOTES

Definitions  According to R.P. Kent, “Money is anything that is commonly used and generally accepted as a medium of exchange, or as a standard of value.” According to Marshall, “All those things which are (at any time and place) generally Read More …

Share this: