Financial and banking sciences are among the fundamental pillars of the modern economy. They represent the scientific framework that regulates the flow of money, guides financial decisions, and ensures the efficient use of available resources. With rapid economic and technological development, the importance of this field has increased due to its vital role in achieving [economic goals]. Financial stability, supporting economic growth, and promoting sustainable development. The importance of financial and banking sciences lies in their role as a link between individuals, institutions, and the state through managing and directing funds towards optimal use.
First: The concept of financial science
It is the science that studies the management of financial resources and how to obtain and use them efficiently, whether at the level of the state, institutions or individuals. Financial science focuses on analyzing financial decisions related to revenues, expenditures, financing, investment and the allocation of specific resources to achieve the best economic results.
Financial sciences encompass several branches, the most important of which are:
1-Public Finance: This branch deals with the study of government revenues and expenditures, fiscal policies, and the public budget.
2- Private Finance: This branch focuses on managing the funds of private companies and institutions and making investment and financing decisions.
3. Finance and Investment: This includes the study of investment instruments, financial markets, and risk management.
Financial science contributes to improving the financial performance of institutions and helps in making sound decisions that contribute to achieving economic stability.
Second: The concept of banking science
It is one of the important branches of financial sciences and specializes in studying the activity of banks and their role in the financial system and focuses on analyzing various banking operations such as accepting deposits, granting loans, and providing various financial services
1. Liquidity management.
2. Monetary policy.
3. Banking supervision and control.
4. Traditional banking operations.
5. Bank credit.
Banks play a pivotal role in the economy by pooling savings and converting them into investments, which contributes to driving economic development.
The relationship between financial and banking sciences
The relationship between financial and banking sciences is based on integration and interdependence, as banks rely on financial principles and foundations in their work, while banks represent the applied aspect of financial sciences, thus ensuring the success of policies. Finance requires an efficient banking system, and the development of banking contributes to enhancing the efficiency of the state's financial system.
In light of the foregoing, it is clear that financial and banking sciences represent an important foundation for achieving economic development and financial stability. The more efficient and organized the financial and banking system, the more positively it reflects on performance. The economy as a whole, and hence the importance of paying attention to this field through scientific research and continuous development to keep pace with rapid economic and technological changes.