بین الاقوامی بینک کاری کے امور کا جائزہ اور ان کا طریقہ کار

REVIEW OF INTERNATIONAL BANKING ISSUES AND THEIR METHODS

Abstract

To promote free trade at the global level and to decide on a new global monetary system, three institutions were established: GATT, IMF and World Bank. In 1948, an institution called GATT was formed to remove barriers to international trade, which is called the ‘General Agreement on Tariff and Trade’. On April 15, 1993, 117 countries converted GATT into a permanent institution through an agreement in Morocco, which was named WTO, i.e. World Trade Organization. The IMF (International Monetary Fund) came into existence in 1948. Just as all the banks of each country have a central bank at the domestic level, the IMF was formed to facilitate the transactions of the central banks of many countries. The aim of the IMF is to promote global trade and the economic system. To borrow from the IMF, it is necessary to participate in world trade in accordance with the capitalist system. Just as the IMF advocates free trade, the World Bank is also a champion of free trade.