Legal prerequisite for a financial institution that wants to carry on a banking business
This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages)
This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "Banking license" – news · newspapers · books · scholar · JSTOR(December 2009) (Learn how and when to remove this message)
The examples and perspective in this article may not represent a worldwide view of the subject. You may improve this article, discuss the issue on the talk page, or create a new article, as appropriate.(August 2021) (Learn how and when to remove this message)
(Learn how and when to remove this message)
In most legal jurisdictions, a financial institution is required to obtain a banking license (or banking licence in Commonwealth spelling) before it is legally permitted to carry on a banking business. Besides other requirements, such a business is not permitted to contain in its name words such as bank, insurance, national, etc, unless it holds an appropriate license. Depending on banking regulations, jurisdictions may offer different types of banking licenses, such as:
full banking licenses for general banking activities, such as taking deposits from the general public
international banking licenses (offshore banking licenses), which prohibits any local business activities
non-banking financial institution (NBFI) is an institution that provides financial services but has to comply with fewer regulations than one with a full banking license.[1]
^Zantrio. "Banking License". Archived from the original on 24 May 2012. Retrieved 2 February 2012.
required to obtain a bankinglicense (or banking licence in Commonwealth spelling) before it is legally permitted to carry on a banking business. Besides...
A license is granted by a party (licensor) to another party (licensee) as an element of an agreement between those parties. In the case of a license issued...
government entities and require a special bank license to operate. Usually, the definition of the business of banking for the purposes of regulation is extended...
Uniastrum Bank, but in 2006 became a separate company, with its own bankinglicense. Unistream has operations at 335,000 locations in over 100 countries...
bank to do so in the province. In 1989, it acquired its universal bankinglicense. In 2000, RCBC acquired major control of Bankard Inc., a credit card...
this scheme classifies bankinglicenses into commercial, merchant, and specialised Development BankingLicenses. Nigeria banking reform can be divided...
Hauschildt. The name was changed to Saxo when the company obtained a bankinglicense in 2001. Saxo offers trading through its online platforms in Forex...
Azure with presence in 24 European countries. Viva Wallet Holdings owns a BankingLicense (VIVABANK SA). In January 2022, international media reported that Viva...
officially classified as a "specialized government bank" with a universal bankinglicense. LandBank is the second largest bank in the Philippines in terms of...
never had the money to lend in the first place is immaterial - the bankinglicense affords banks to create credit - what matters is that a bank's total...
financial technology company with headquarters in London, UK that offers banking services for retail customers and businesses. It was founded in 2015 by...
By 2018, the HKMA had begun the application process for a virtual bankinglicense in Hong Kong, with the first deadline being 31 August 2018. In response...
originally planned. It has stopped accepting applications for the digital bankinglicense for three years in order to preserve the competition among the new...
cards. It applied for a banking licence in 2017, then transformed into a fully regulated UK bank after acquiring its bankinglicense in 2021, thereby becoming...
that year. It secured its Universal BankingLicense in February 2001 and also obtained its International BankingLicense in the year 2011. Fidelity Bank of...
banks must receive a bankinglicense from FINMA. Since 2019, certain fintech companies can also apply for a "FinTech bankinglicense". As of May 2023, five...
Australian fintech company and former bank. Xinja was granted a full bankinglicense by the Australian Prudential Regulation Authority in 2019. Xinja Bank...
Herzegovina, Serbia and Montenegro. However, the bank itself did not have a bankinglicense in Austria, which now owned by Austrian Anadi Bank, another bank that...
Valar Ventures. Initially, N26 started operations without holding a bankinglicense; instead, it was provided an interface to a back end provided by Wirecard...
Kerala. It became ESAF Small Finance Bank after receiving the first bankinglicense in Kerala since independence. On 17 March 2017, Pinarayi Vijayan, the...
ETFs. In December 2019, Questrade applied for a bankinglicense signalling its intent to offer banking services. "Edward Kholodenko, Questrade Wealth Management...
Optima bank, is a banking and financial services institution in Greece, which apart from its full bankinglicense, is also a member of the Athens Stock...
Global Information
