Introduction to Banking Law:

Introduction:

This note will briefly discuss the meaning of banking and provide an overview of banking law.

Meaning of Banking:

At its core, banking is understood as the business of financial intermediation. It involves accepting funds from those who have surplus money and lending those funds to those who need them, while earning income from the difference between the interest paid on deposits and the interest charged on loans.

In Black’s Law Dictionary, 9th ed., banking is simply defined as “the business carried on by or with a bank.” It then defines a bank as

A financial establishment for the deposit, loan, exchange, or issue of money and for the transmission of funds; esp., a member of the Federal Reserve System.

Overview of Banking Law:

Subsequent discussions of banking law will involve a discussion of the following:

1. History of banking globally and in Ghana.
2. Regulatory framework of banking in Ghana.
3. Overview of banks and specialised deposit-taking institutions in Ghana.
4. Prohibited and permissible activities of banks.
5. Banker-customer relationship.
6. Credit, lending, and risk management.
7. Negotiable instruments.
8. Payments and fintech.
9. Deposit insurance.
10. International banking
11. Money laundering and financial terrorism.