Public Banks In Canada - An Incorporation

Understanding the reason for banking will assist in determining the success of the Public Bank Of Canada. These factors will be examined in conjunction with the Canada Bank Act[1 ,2, 3, 4, 5, 6, 7 ].

The question to be answered, herein, is: " Can a bank successfully operate in Canada; with global impact, by avoiding charging interest on loans?" The objective is to steward business between lender and consumer by charging only a reasonable operating fee : i.e., loans without interest; plus, costs.

Three comparisons will be offered here for consideration:

1. Federal Reserve Bank of The USA
2. Bank Of Canada; and,
3. Grameen Bank of India

A documentary named MoneyMasters may be reviewed as a contemporary comment of the history of banking in the modern world.

The principal purpose of banking is generally defined as being to establish a network of tangible exchange of currency : wherein, currency is that which has economic importance; specifically, that there is a demand for the product or service.

Outside of Canada - in Malaysia - The Public Bank Berhad [PBB]- is structured to maximize profit in conjunction with providing optimum client services.

The Public Bank Of Canada's [PBC] mission is more aligned to the ethic of the Grameen Bank. And, there is no association or corporate business between Public Bank of Canada and PBB.

Copyrighted

Public Bank Of Canada and Associate Touchstone Committee Law Institute

2009