Banking License
/ˈbæŋkɪŋ ˈlaɪsəns/
Definitions
- (n.) An official authorization granted by a regulatory authority allowing a financial institution to engage in banking activities.
The company applied for a banking license to operate legally within the country.
- (n.) A regulatory requirement ensuring that the licensed entity meets minimum standards of financial stability and compliance.
Obtaining a banking license typically involves rigorous scrutiny of the applicant's financial health.
Forms
- banking license
- banking licenses
Related terms
See also
Commentary
The term emphasizes official permission to undertake banking services; clarity is important when drafting to specify jurisdiction and scope.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.