Classification of bank on the basis of origin

On the basis of birth or origin or registration, banks may be classified as follows-

1. Local banks: Local banks are those banks which are incorporated and registered in Bangladesh. All other commercial banks operating in Bangladesh except the foreign banks are local banks.

State the origin and Meaning of the word ‘Bankrupt’

It is assumed that the word ‘Bankrupt’ came from the Italian word ‘Bankruptus or Bancaruptus’ or from French word ‘Bankaroute’. Banca or Banque means ‘beanch’ and rotte, Banca rotta, route means ‘ to break’. So Bankoruptus, Bancaruptus or Bancaroute means to break the bench.

Origin of the word “Bank”

It is observed that there are at least three schools of thought about its origin. These are as follows-
Some of the economists believe that the word ‘bank’ originates from the German word ‘BANC’ meaning a joint stock firm.
The second category of economists believes that the word ‘bank’ has been derived from the Italian word ‘BANCO’ which means heap or mound.
There is another group of people who traces the origin of the word ‘bank’ to the Greek word “BANQUE’ meaning a bench.