Banks play a significant role in strengthening the economy and the financial situation of a country. The banking system is vast, and it offers financial assistance to businesses that wish to expand or invest.
Finance plays a massive role in the acquisition of both assets and equity. The banks are responsible for structuring the financing of international mergers and acquisitions. Banks also play an essential role in leveraged buyouts and restructuring of finances.
Loans And Credit Facilities
Banks offer loans to different personal and businesses. Banks provide the following types of loans and credit facilities.
The Financial Institutions Ordinance 2001, responsible for the recovery of finances, came into force in 2001. Under this Ordinance, all matters regarding the recovery of banking finances have been assigned to the Banking Courts.
The banking courts are responsible for the recovery of loans and credits given by the financial institutions of Pakistan to either individuals or businesses. It is the banking courts’ responsibility to speed up the recovery of credits and loans to promote healthy credit culture in Pakistan. It will also reduce the risk of writing off loans and reduce risks of default.
Almost all offenses under the Banking sector are managed under the Financial Recovery Ordinance, 2001, under the Banking Courts. There are 29 Banking courts in Pakistan. Although Offences related to bank and finance can also be filed under the Civil Courts or other courts.
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