The expert provider of custom articles,essays,termpapers, project materials and information. To order the Complete Project Material, Pay thr Sum of N3, to: Then send the Project Topic, Your Email Address and Full Name to While international trade as described by the author, Nobert M. Ile in his published test economics for Business studiesP. It is a dealer in debts, but indebtedness has a correlation to wealth and hence, a bank can be described as a liquefier of wealth.

Banking on the other hand according to Emekekwu citing corns The mere exchange of indebtedness would have no purpose unless there are some vital differences between the varieties of debts.

Banking realizes its purpose and at the same time achieves a very great social importance through the fact that debts of a bank are generally accepted by the public in discharge of obligations; and hence becomes money. The banks business is therefore, to take the debts of other people to offer its own in exchange and there by to create money.

Central banking refers to the role of a central monetary authority or an apex financial institution within the entire financial structure in promoting monetary stability and a sound financial system. Included, the world of central banks is one of variety of structures, functions and powers which are in themselves by products of the economic, political and other realities prevailing in a society.

The growth and development of international trade along the West Africa coast played a major role in extending the medium of exchange beyond trade by barter in the nineteenth century. The native currency system which relied on items such as cowries, manila, brass and copper rods, had to accommodate foreign currencies such as Maria Theresa dollar and British silver coins increased trade motivated the setting up of the bank of British West Africa BBWA inthereby drastically reducing the barter system and ushering in a rudimentary form of commercial banking.

The issue of legal lender currency for the West African region was however, deferred till When the West African Currency Board WACB was established. The WACB was an offshoot of the recommendation of the Emote committee set up the secretary of state, the Rt. The WACB returned the services of the BBWA as its currency distribution agent. It set up four currency centuries in Lagos NigeriaAccra GhanaFreetown Sierra Leaone and Barthurst, now Bamjul The Gambia. The currency in circulation in West Africa increased steadily through the s in response to the growing demand your West African Primary products such as Cocoa, Groundnuts and Palm oil and increase in third world prices of such products.

The Top earning options traders, did not have discretionary control over the money stock of the territories under its sphere of osaka securities exchange holiday calendar. It was set up primarily to promote the financing of export trade specially; it was charge with the issue of a The great depression stock market crash cause African Currency, the exchange of existing currencies, the repatriation of such currencies and the investment of reserves.

There was a fixed parity between the local currency and the British pound while the currency had per cent sterling coverage. As the WACB was automatically linked to the British system, the investment policy was rather conservative in the sense that sterling reserves were invested only in Britain. Moreover, the WACB could not engage in monetary management, neither were Nigerians trained in the art.

In order to eliminate this deficiency and promote the growth of the domestic money and capital markets, especially as the country marched towards political independence inthe CBN was established by the central bank of Nigeria act of The Bank Commercial Business on 1 July, with an initial capital of N3.

International Trade transactions in the Nigerian economy are, to a large extent cash oriented. Without definition exchange stock market functions of nigerian regular supply of the currency, international trade activities would be much restricted. The relationship between, the CBN and other banks, however imposes mutual obligations on both sides.

Every other banks in Nigeria banks in CBN, CBN promotes confidence in the system through its activities as banker to other banks will within and outside M IU Nigeria and may seek the cooperation of other banks in pursuit of this objective CBN Decree No. Not only does the CBN mobilize funds for international trade to the Federal government, it also manages its domestic and external debt in conjunction with the federal ministry of finance.

The federal ministry of finance is in charge of multilateral and bilateral debts while the CBN is responsible for trade arrears.

The effectiveness of any central bank in executing its functions hinges crucially on its ability to promote monetary stability in international trade. Price stability is indispensable for money to perform its role of medium of exchange, store of value, standard definition exchange stock market functions of nigerian deferred payments and unit of account. Implementation is often difficult because of conflicting conceptual issues, various constraints and other day — to — day realities.

Monetary management inevitably involves trade offs in overall objectives and achievable targets. Foreign exchange management involves the acquisition and development of foreign exchange resources in order to reduce destabilizing short ter-capital shows. The CBN monitors the use of scarce foreign exchange resources to ensure that foreign exchange disbursement and utilization are in line with economic priorities and within the foreign exchange budget.

Poor unification of the exchange rate coupled with unliberalized trade.

Computer networking has not gone far in all the operating banks that plays role in external trade. Do you want the full project work?

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Home Payment Privacy Policy Contact Us PROJECT TOPICS AND MATERIALS Writing Contests. The Role of Banks in International Trade July 24, by articles Leave a Comment. FIRST BANK PLC ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM ACCOUNT NUMBER: If related to the research topic, it then means the banks part, duty in an international trade. While international trade is as stated above. There are various types of banking institutions. They are as below: Commercial or joint stock banks.

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