This introduction is many concerned with the effort of community banks in rural development which is backwards due to certain problems that hinder them, such as infrastructural facilities, shortage of manpower, problem of security and so on.
1.1 BACKGROUND OF THE STUDY
The evolution of community banks in Nigeria can be traced to the 1990 budget when the president formally announced the introduction of the programme. It was men for recognition of the peculiarities of the rural communities and the need to monetize and integrate the rural economics into the banking system.
Meanwhile the word community bank, it can be seen as a self sustaining financial institution owned and managed as a community of group of communities for the purpose of crewing deposit, providing credit facilities and other banking a financial services to its members largely on the basis of their self recognition and credit worthness.
Despite that, in July 1990, the community banks implementation committee (CBIC) was set to work out the modalities for the establishment of community banks. Having produced all the necessary documents for the establishment of community banks, the CBIC commissioned a number of community banks to operate before the setting up and inauguration of National Board for Community Banks (NBCB) on July 16, 1991. The NBCB with more executive powers and the responsibility for the overall supervision of community banks, placed the CBIC. The first community bank commenced operation in December, 1990.
A bank licenced under community bank decree shall accept deposit of all type from people including savings and time savings. To receive or collect money on behalf of customers. Providing banking services to people as in giving out loans and after financial facilities.
1.2 STATEMENT OF THE PROBLEM
The statement of the problem were stated as follows.
1. How loan can be made available to rural drivellers or borrowers?
2. how can rural banking system be improved to help in rural development?
3. how to foster community ownership and use of economic assets?
4. how can loan secured other then asking for tangible security like collateral ?
1.3 OBJECTIVE OF THE STUDY
The objectives makes the researcher to know the role of community banks in rural development. It reveals the following objectives.
1. The promotion of rural development by providing financial and banking services to communities inadequately supplied with such services.
OTHER SIMILAR BANKING FINANCE PROJECTS AND MATERIALS
A CRITICAL ANALYSIS ON THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIRST BANK NIGERIA)
ABSTRACT This project work is carried out to examine the contribution of micro finance banks to the development of Small and medium scale enterprises in Nigeria. The Brass micro finance bank is used a...Continue reading »
A STUDY ON THE ACCEPTANCE AND ADOPTION OF THE CBN CASHLES POLICY IN PORT HARCOURT, NIGERIA
CHAPTER ONE INTRODUCTION 1.1. BACKGROUND TO THE STUDY One of the prerequisites for the development of national economy according to Ajayi et al, 2006 is by encouraging a payment system that is secu...Continue reading »
A STUDY ON THE IMPACT OF BUDGETARY CONTROLS ON THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIDELITY BANK PLC)
CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY AND PROFILE OF THE ORGANIZATION Following the uncertainties prevailing in the Nigerian business environment today, managers and stakeholders mu...Continue reading »
ANALYZING PERFORMANCE APPRAISAL TECHNIQUES IN UNION BANK NIG PLC
CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY In any evaluation of the condition necessary for the growth and survival of an organization, the role of performance appraisal is a strategic f...Continue reading »
AUDIT INDEPENDENCE: ENHANCING ACCOUNTABILITY AND TRANSPARENCY IN CORPORATE ORGANIZATIONS
CHAPTER ONE INTRODUCTION 1.1. Background of the study The subject of transparency and accountability in modern day corporate organizations has continued to receive attention as never before. It has b...Continue reading »
CREDIT MANAGEMENT AND ISSUES OF BAD DEBTS IN COMMERCIAL BANKS IN NIGERIA
The article on this topic (credit management and issues of bad debts in commercial banks in Nigeria) is an extract from literature review of the project material. The complete project work would be ma...Continue reading »
What are looking for today?
THE EFFECT OF TREASURY SINGLE ACCOUNT ON THE ECONOMY OF NIGERIA
35,743 people found this useful
THE IMPACT OF HUMAN RESOURCE PLANNING ON ORGANIZATIONAL PERFORMANCE
29,416 people found this useful
THE EFFECT OF SOCIAL MEDIA ON STUDENTS PERFORMANCE IN LEARNING LISTENING COMPREHENSION
27,878 people found this useful
TAX ADMINISTRATION IN NIGERIA: CHALLENGES AND PROSPECTS, A CASE STUDY OF LAGOS STATE BOARD OF INTERN...
26,958 people found this useful
FACTORS AFFECTING LANGUAGE CHOICE IN A MULTILINGUAL SOCIETY
21,682 people found this useful
PARTY SYSTEM AND NIGERIA POLITICAL DEVELOPMENT
21,008 people found this useful