Open AccessThe banking development within the framework of financial globalization
Author(s) -
Dino Bruža,
Luka Latkovich
Publication year - 2020
Publication title -
obrazovanje za poduzetništvo - e4e
Language(s) - English
Resource type - Journals
eISSN - 1849-7845
pISSN - 1849-661X
DOI - 10.38190/ope.10.2.13
Subject(s) - globalization , financial intermediary , intermediary , financial system , retail banking , business , business history , financial services , economics , finance , accounting , market economy , management
The concept of a bank has a long history of origin, but ashort history in relation to as it is known today. The first traces ofbanking can historically be placed at a time when money was deposited withjewelers, but over time, the practice of lending surplus money has evolved,which is why its concept of commerce has changed. The subject of thisstudy and research is the bank, primarily as a joint stock company. It revealsissues of functioning banks and banking, the relationship between the bankand other financial institutions, the financial and banking system, and therole and meaning of non-bank financial intermediaries. The purpose of thispaper is to highlight the role and importance of banks in business, and todiscover the degree of influence on otherinstitutions. By elaborating on labor issues, it highlights theireconomic importance in financial globalization. The aim of this paper isto get to know its main tasks for which it was founded and the process oftransformation of banking services in the global framework, especially inentrepreneurship. A research hypothesis has been formed: financialglobalization affects the rapid development of banking, and reveals the greatinfluence of the banking sector on other institutions. During this researchseveral basic scientific methods were used (compilation method, descriptivemethod, specification and generalization methods and comparison method).Attention is placed on the comparison of the role and importance of the bankingindustry in the past and in the modern business world. The emphasis is placedon comparing the role and importance of the banking sector in the past and inthe modern business world. The analysis of the development of banking andentrepreneurship forms a quality framework for further research, and gives an added value to the readers in terms of a better understanding of the differencesbetween financial institutions, supported by practical examples of selectedglobal banks in the global market.