olubenson
New member
When we talk of finance, we will always have the banks somewhere as a backbone. In these modern times of ours, i wonder what financial activity will ever go on without the banks getting involved. Is it, Payday loans, International money transfers, currency exchange within a country or exchange of currencies between a foreign and a local company.
Virtually every country has one product or the other they either import or export to other countries. And you still wonder how they get paid after making such shipments of goods? Here is where Forex comes in to play. Money must change hands using an acceptable international currency which can only be controlled by the Central banks.
To affirm my point banks top it all , both the Central banks and Commercial banks. But are they the only players here.
If banks are not the major players then who are the others ?
Kindly Share your opinions.
Virtually every country has one product or the other they either import or export to other countries. And you still wonder how they get paid after making such shipments of goods? Here is where Forex comes in to play. Money must change hands using an acceptable international currency which can only be controlled by the Central banks.
To affirm my point banks top it all , both the Central banks and Commercial banks. But are they the only players here.
If banks are not the major players then who are the others ?
Kindly Share your opinions.