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Money, money circulation and credit - Коллектив авторов

Money, money circulation and credit

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This educational manual provides a comprehensive overview of the theory and practice of money, credit, and the banking system in our country. It delves into the nature of money, money circulation, credit, as well as the state's money, credit, and banking system. The manual also discusses the establishment and evolution of the banking system in our Republic, its functions, operations, the capital market, stock exchange, and the development of international currency and credit relations.

Designed for students and educators at economic universities, this educational manual can also benefit professionals in the credit and financial sectors. Unauthorized distribution or use of this work, in whole or in part, without the author's consent is strictly prohibited and punishable by law.

Это учебное пособие предоставляет комплексный обзор теории и практики денег, кредита и банковской системы в нашей стране. Оно рассматривает сущность денег, денежное обращение, кредит, а также государственную денежную, кредитную и банковскую систему. Пособие также обсуждает становление и эволюцию банковской системы в нашей Республике, ее функции, операции, рынок капитала, фондовую биржу и развитие международных валютно-кредитных отношений.

Разработанное для студентов и преподавателей экономических университетов, это учебное пособие также может быть полезно специалистам в сфере кредита и финансов. Недопустимо распространение или использование этой работы, в целом или частично, без согласия автора и строго наказуемо по закону.

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INTRODUCTION

The most dynamically developing sector of Kazakhstan’s financial system is banking sector. Any economics is based on objective economic laws, one of which is money circulation. Money cycle happens under the influence of financial institutes and first of all of banks which create the basis for money circulation and are linked with all the branches and sectors of the economic.

Banks provide sponsorship for different forms of entrepreneur- ships of producing and nonproducing spheres, managing sphere and supply budget with necessary funds. Either the banks carry a two-way traffic of money borrowed. Development of the State payment system, national currency stability, growth of economics and human wellbeing depend on condition and reliability of the banking system. It stipulates the necessity of qualification level quality improvement of the banking specialists.

This study guide consistently and intelligibly describes the basic questions of the course «Money. Credit. Banks» shows the basic theoretical and practical knowledges of banking, its organization, peculiarities and problems of development. In substantial plan this study guide satisfies the requirements of the State educational standard with a specialization in «Finance» and the program of the course «Money. Credit. Banks.»

The study guide reveals the meanings of money, money circulation, monetary system, the essence of credit functions, credit system, bank, banking, bank operations and the modern picture of Kazakhstan’s banking system, its structure and the basic directions of modernization and also the National Bank of Kazakhstan activity organization, its functions, essence and bank operations content are reviewed.

A special attention is paid to the questions of commercial banks’ activity organization, to the meanings of proprietary and borrowed resources.

The active operations of commercial banks are described in sufficient detail, as traditional (credit provision and transactions in securities) and far less the case in banking practice (leasing, forfeiting, factoring, trust and exchange operations). The meanings and classifications of banking risks, methods of their control are noticed.

Such approach allows to support the logic of the study guide exposition and to examine deeply the learned categories.

The application examples are exemplified from the banking activity experience. Illustrations (schemes, drawing, diagrams and tables) provide the easiest study of reviewed themes.

During this study guide publishing the National Bank of Kazakhstan’s law and regulations were used and the works of famous Kazakh and Russian economists Khamitov, G.S. Seitkassimov, Sh.R.Abdilmanova, S.Zh.Yntykbayeva, U.M. Iskakov, O.I. Lavrushina, Z.G. Shirinskaya, E.F. Zhukov, etc.

Chapter I. MONEY

Section 1. THE ESSENCE AND FUNCTIONS OF MONEY

1.1.1. The necessity and essence of money

Money is probably one of the greatest inventions of a human thought. It hasn’t any analogues in an animated nature. The whole structure of the modern economy is determined by the existence of money. The world economy has two basic theories of the money origin: rational and evolutional.

According to the rational theory money is the result of an agreement between people who invented them as a special instrument used for goods exchange.

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