Definition of Bank under the Act No. 10 of 1998 is a business entity which collects funds from the public in the form of savings and channel them to the public in the form of credit and or other forms in order to improve the living standard of the people. Meanwhile, according to Hasibuan ( 2005:2 ) , the notion of the bank is : " Bank is a business entity whose wealth is mainly in the form of financial assets (financial assets) as well as the profit motive is also a social , not just for profit alone " . Moreover Kashmir ( 2008:2 ) argues that "the Bank is a financial institution whose activities raise funds from the public in the form of deposits and then distribute back to the community , as well as providing other banking services " .
Based on the above three terms can be concluded that the bank is a financial institution in the form of business that collect funds from people who have excess funds ( surplus of funds) and channeled back to the community that a lack of funds (lack of funds) , as well as providing other banking services for social profit motive also improve the standard of living for the sake of many
Thursday, 22 May 2014
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