Foreign Banking Operations Training Kit

Training Kit on Foreign Banking Operations

Banking services represent one of the important economic activities in any country, and if we look at them as an economic activity we find that they involve numerous characteristics, and there is no doubt that the presence of these characteristics means that banking activity must necessarily keep pace with the requirements of development in all aspects of economic and social activity in any country, regardless of the nature of its economic system or political philosophy.

Among the most important signs of progress in the provision of banking services is the great expansion in the use of computer technologies in banking work, which has led to speed in providing services, reduced bureaucratic burdens, and saved time for both customers and bank employees. It has also led to keeping pace with the great increase in the volume of financial transactions, and enabled the customer to access the services required at any branch of a given bank in any region within a given country, without needing to contact the branch where the customer opened their account. The customer can also find out their balance, the total and details of their withdrawals and their dates, and obtain cash within a single minute.

Characteristics of Banking Operations

• Their commercial nature: most countries of the world have granted banking operations commercial character by virtue of their nature, regardless of who carries them out.

• They have a technical character that regulates the procedures followed and uses terms that have become established in banking work, terms whose meanings may not match their literal meaning, although they serve the purposes that clarify the intent of their parties regarding the agreed subject matter.

• Banks follow, as regards subject matter, a clear approach in banking forms such as contracts and others, in terms of form and content, so that the relationship between the dealing parties is clear, free of ambiguity and confusion, and phrased in a way that makes interpreting their terms easy.

• All banks rely in their forms on a unified approach that some may describe as contracts of adhesion, even though they clarify the rights and duties of both the bank and its customers.

• Banking laws are distinguished by unified systems at the international level, such as letters of credit, guarantees, collection and transport bills of lading and other matters relating to foreign trade, such that they give the customer no room to change or amend their printed texts, because they are global systems codified by the legislators of the International Chamber of Commerce and applied among all Arab and foreign countries.