A banking license is a prerequisite for a financial institutionthat wants to provide services. Under most jurisdictions the
fundamental banking activities, such as taking deposits from the general public
are exclusive to holders of a banking license. A non banking servicesis an
institution that provides financial services without meeting the legal
definition of a bank, such as holding a banking license
Licenses are typically issued by
the banking regulatory body in which the bank is established. There is a
relatively long and complicated procedure that goes into the application. This
procedure will also depend on the type of bank license that you wish to apply
for. Licensing is generally broken down into different categories, while each
category has a different specialization, and a different time frame involved in
the banking license application process....