THE ROLE AND DEVELOPMENT OF BANKS IN THE CREATION OF THE CREDIT SYSTEM

Abstract

In the conditions of the market economy, banks are very important in people’s lives. Any weakness and stoppage in money circulation and its movement leads to the paralysis of society as a whole. Therefore, it is impossible to get by without having a broad idea about banks and their working methods, without having a deep knowledge of the essence of the operations they conduct and the services they provide, and without properly applying them. The changes and innovations in economic life as a result of the reconstruction, the transition to a market economy, have brought many innovations to the type and content of the services provided by banks, and they have started to engage in banking activities more broadly. The presented article takes a special place in strengthening knowledge about the activity of banks that help the development of the economy at the modern stage.