Banking in order to improve people's living standards

Good afternoon @steempreneurship friends, on this occasion I am back to participate in a contest held by @f2i5 with the theme Banking in order to improve people's living standards.

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A bank is a financial institution that is generally established with the authority to accept deposits, lend money, and issue promissory notes. Bank is a business entity that collects funds from the public in the form of savings and distributes them to the community in other forms and or forms in order to improve the standard of living of the community. Currently the banking industry has undergone major changes and is more competitive due to very strict deregulation of regulations. Banks are the most important financial institutions in improving the economy of a country.

What is the name of the Bank. Owned by the government or company. Or private property

In general, in my country, Indonesia, there are dozens of banks operating, both state and private banks. Each of these banks has the same goal to seek profit from customer deposits. Therefore, the bank has its own way to attract people to save money. Various rules and strategies were carried out by the bank to increase the deposit of funds from the public. The banking business does rely on funds from the public which are deposited in the bank concerned. The bank offers a variety of attractive products to prospective customers that will be offered to the public.

Some banks that are quite familiar in Indonesia are Bank Aceh Syariah (BAS) and Bank Syariah Indonesia (BSI). Both banks are state-owned banks. As a civil servant, I had to use a Bank Aceh account, which is a bank owned by the regional government. Every salary I receive goes directly to my bank account according to the rules that have been set. Meanwhile, for various other general transactions, I use a Bank Syariah Indonesia account. Bank Syariah Indonesia is a bank in Indonesia that is engaged in Islamic banking and is the result of a merger between Bank Syariah Mandiri, BNI Syariah, and BRI Syariah.

What is the name of the credit disbursed?

The main goal of the bank, of course, is to want a large profit from customer deposits. The Bank will carry out various programs to realize this goal. One of the programs to assist the community in improving the economy is to channel credit. To get credit, the bank provides several requirements that must be met by the customer. Kredit Investasi, Kredit Usaha Rakyat (KUR), Kredit Modal Kerja (KMK), Housing Loans, and Kredit Kenderaan Bermotor (KKM) are several types of loans offered by banks to the public. These various types of credit are expected to help the community to improve the economy. Currently, I am personally still tied to a housing loan at Bank Aceh Syariah. I took the credit for residential housing finance. The process to get the credit is also easy and fast.

Will it help in growing the community's economy?

Of course, every credit that the bank offers can help the community's economy. Each bank has a different way of channeling credit but has almost the same purpose. Most provide the same requirements and must be met by customers to get credit assistance. Both state banks and private banks charge almost the same interest rates for each type of credit. Of course there are positive and negative sides for the community in taking credit at the bank. However, what is expected with the credit is to help the economy of the community in general.

Regards
@fadlymatch