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A system used in Italy where the Lombard Jews had benches in the market-place where they exchanged money and bills. When a banker failed, his bench was broken by the people, and he was called a bankrupt. But the banco word was proved wrong when it was metaphorically described as a heap or mound which is used to represent a type of fund or joint stock formed by the contributions of a group of persons and this derivation is what brings us to the meaning and definition of what a BANK can be.
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A BANK may be defined as a credit organization. It is an organization that studies, deals in, gives and guarantees credit...
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