22. My specialty. Banking

Lead-in:

1. money circulation – грошовий обіг

2. taxes and taxation – податки і оподаткування

3. banking facilities – банківські засоби обслуговування, можливості

4. lending institutions – кредитні заклади

5. real estate – нерухоме майно, нерухомість

6. insurance services – послуги страхування

7. to transfer accounts – перевести рахунки

8. stocks and shares – акції та облігації

9. foreign currency transactions – валютні операції

10. travel insurance – страхування туристів

11. to lend money – позичати гроші

Everybody is interested is money, and bankers deal with it more than anyone.Banking is as old as money. The primary function of bankers was to match up those who had more money or capital than they needed to those who needed money or capital to realize their plans.This made money for bankers and helped expand the overall economy more rapidly.

Now banking is considered to be one of the most prestigious professions and that is why I decided to become a student of the Faculty of Accounting and Finance at Donetsk State University of Economics and Trade and to major in Banking.

Our faculty is one of the largest in our university and it trains specialists in the following specialities: “Accounting and Audit”, “Finance and Credit”, “Banking”.The majority of students of our speciality will be experts in the sphere of banking and finance and will work in state, regional and municipal banking and financial institutions.

No doubt specialists in banking must get fundamental knowledge, that is why we study economic theory, macro-and microeconomics, theories of money circulation, financial and credit system, investment activity, taxes and taxation, bank organization, banking facilities and services, types of banks, operations of financial and lending institutions.

We can’t do without deep insight into studies of the following processes: personal and commercial services in banking, trust services, cash management services, investment and real estate services, insurance services, credit facilities, new types of services in banks, pension schemes, customers’ needs surveys, etc.

Specialists in the sphere of banking can apply to post-graduate courses or, if they want to find a challenging job in banks and banking institutions, they have to meet all the requirements for financial specialists of present time.

Nowadays it is necessary to combine economics with studying of foreign languages because at present banks provide services connected with foreign currency transactions.

We have an access to special literature in English, because our library provides a large collection of books, journals and periodicals on all the subjects of the University’s profile.

Our Faculty is provided with its own computer classes and students have an access to the Internet facilities.

Members of our faculty are involved in a very wide range of research projects, international projects with our foreign partners.

Students who complete the course successfully are extremely well qualified for a wide range of jobs and further courses.

A substantial number of students can go to post-graduate courses, others are employed by financial institutions. If you are interested in further academic study, there are Master’s degree courses, post-graduate courses, where you can submit a dissertation.

Needless to say that the banking industry has changed greatly in recent years: banks have more customers than ever before, people have realized that having a bank account is a greater help in organizing their financial affairs.

Banks can offer their customers various services: from things like cashing cheques and looking after their savings to insurance, taxation and investment.

Banks are one of the most efficient financial organizations in the world and the higher your grade in the bank is the more responsibilities you have.You can start by preparing customers statements and learning to use accounting machines.Then you will get more personal contact with customers opening new accounts and transferring existing accounts throughout the country. Being a foreign clerk means that you will be dealing with foreign currencies, traveller’s cheques and travel insurance.

If you help customers to manage their financial affairs, you can act on their behalf to buy or sell stocks and shares.And finally, you can be involved in one of the bank’s major activities – lending money.

Because of bank’s importance in the functioning of the economy, there is a set of rules developed by the Government to guide bankers and protect society.

Questions for comprehension check-up and discussion:

1. What was the primary function of bankers?

2. Why is the speciality of a banker popular nowadays?

3. What disciplines do future bankers study at the university?

4. What banking procedures and operations do you have to get an insight into?

5. Why do you think banks have more customers than before?

6. What kind of services do banks provide for their clients?