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Документ Methodological instructions for practical classes on the course "International credit-settlement and foreign exchange transactions"(Національний технічний університет "Харківський політехнічний інститут", 2021) Mehovich, S. A.; Druhova, О. S.; Klepikova, S. V.The experience of the world community leading countries gives strong evidence that economic growth and the provision of effective conditions for stable economic development, improvement of social protection, and welfare of the population are possible only if the banking sector of a market economy is effectively developed. The banking system of Ukraine is one ofthe domestic leaders of market reforms. With the proclamation of independence in August 1991, Ukraine could form its own banking and monetary system independently. The legal framework for the banking system functioning was the Law of Ukraine “On Banks and Banking Activities” adopted in March of the same year. It embedded the fundamental principles on which the new two-tier banking system of Ukraine was to be built. The banking system was created to expand the infrastructure of the market economy, improve services for entrepreneurs and the population, and bring banking institutions closer to their clients. Today’s world economy is highly integrated. As a result, cooperation between business parties from different countries is becoming more widespread. One of the major points in implementing foreign economic agreements (contracts) is mutual settlements between the parties – residents of different countries, which due to their specifics are called international settlements. Moreover, such settlements may relate not only to trade but also to credit, investment or other foreign economic relations. Settlement participants can be institutions, organizations, enterprises and individuals that are payers or recipients of funds.Документ Methodological instructions for practical classes on the course "International credit-settlement and foreign exchange transactions"(National technical university "Kharkov politechnical institute", 2018) Mehovich, S. A.; Druhova, О. S.; Klepikova, S. V.The experience of the world community leading countries gives strong evidence that economic growth and the provision of effective conditions for stable economic development, improvement of social protection, and welfare of the population are possible only if the banking sector of a market economy is effectively developed. The banking system of Ukraine is one ofthe domestic leaders of market reforms. With the proclamation of independence in August 1991, Ukraine could form its own banking and monetary system independently. The legal framework for the banking system functioning was the Law of Ukraine “On Banks and Banking Activities” adopted in March of the same year. It embedded the fundamental principles on which the new two-tier banking system of Ukraine was to be built. The banking system was created to expand the infrastructure of the market economy, improve services for entrepreneurs and the population, and bring banking institutions closer to their clients. Today’s world economy is highly integrated. As a result, cooperation between business parties from different countries is becoming more widespread. One of the major points in implementing foreign economic agreements (contracts) is mutual settlements between the parties – residents of different countries, which due to their specifics are called international settlements. Moreover, such settlements may relate not only to trade but also to credit, investment or other foreign economic relations. Settlement participants can be institutions, organizations, enterprises and individuals that are payers or recipients of funds.