Question

What kind of banking system does Canada have?

A unit banking system.

A branch banking system.

A money banking system.

A provincial banking system.

Answer 1

Solution:-A provincial banking system.

Explaination:-Canada have a  provincial banking system.Banking in Canada began to migrate in earnest from colonial overseas banking operations to a local banking system with the founding of the Bank of Montreal in 1817. Other banks soon followed and began business, and after a lengthy approval process began unregulated bankingbusiness. These institutions issued their own local currency until amendments in the Dominion Notes Act ^[5]allowed federal and provincial governments to begin to introduce their own notes starting in 1866.