THE CUBA REVIEW 



STUDYING BANKING AND FINANCE 



A CHAPTER OF THE AMERICAN INSTITUTE OF BANKING FORMED IN 

 HANANA — SEVEN NATIONALITIES IN THE CLASS 



The Chapter was organized in Deccni- 

 her, I'.iog, by 7J members of the National 

 Hank of Cuba. 



Its object was to promote the systematic 

 study in this country of "Banking and Fi- 

 nance" and "Commercial and Banking 

 Law," inspired by personal association, ac- 

 cording to the standard prescribed by the 

 American Institute of Banking. 



The course of study covers the theory 

 and practice of banking, and such princi- 

 ples of economics and law as apply to the 

 banking business. 



The headquarters of the Chapter are in 

 the National Bank of Cuba Building, Ha- 

 vana. 



The class instruction is given by c.\pe- 

 ricnced professional men, in the English 

 and Spanish languages. 



As the members are composed of seven 

 nationalities, the work is carried on by in- 

 ter])reters to some extent. 



Banking on a large scale in Cuba re- 

 quires the adaptation of the American, 

 European and Cuban methods. For exam- 

 ple, the Xational P>ank of Cuba with its 

 tweiUy branches is a departure from the 



.American system of an independent bank 

 for each locality, and its operations, in 

 order to be uniform throughout the island, 

 involve a complex mechanism operated to 

 meet the daily practical needs of the public 

 in its domestic and foreign relations. 



Obviously a large force of experts is 

 necessary to do the work. 



The discount and deposit features of the 

 bank are similar to those in vogue in the 

 United States. A savings department is 

 an important adjunct. United States cur- 

 rency is in common use, by reason of its 

 being the official money in Cuba, and de- 

 posit accounts are conducted on virtually 

 the same plan as in tlic United States, in 

 the several currencies of the country. 



The complexity of the business arises 

 mainly from a variety of moneys handled 

 in a variety of languages, which is en- 

 countered in practically all transactions. 



l'"or instance, the Xational Bank of Cuba 

 follows the United States National Bank 

 Act as far as possible, but also introduces 

 the best features from the different bank- 

 ing systems of the world to meet the cos- 

 mopolitan character of l)nsiness in Cuba. 



A group of students from the Cuba chapter of the American Institute of Banking, 



taken at an outing held recently. At the left, wearing glasses, is 



Mr. W H. Morales, one of the instructors. 



