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A rule of conduct or procedure established by custom, agreement, or authority. The body of rules and principles governing the affairs of a community and enforced by a political authority; a legal system: international law. The condition of social order and justice created by adherence to such a system: a breakdown of law and civilized behavior. A set of rules or principles dealing with a specific area of a legal system: tax law; criminal law. A piece of enacted legislation. What is Law?

Banking license

A banking license is a prerequisite for a financial institution that wants
to provide banking services. Under most jurisdictions the fundamental
banking activities, such as taking deposits from the general public are
exclusive to holders of a banking license.

However some banking services may be provided without meeting the legal
definition of a bank, not holding a banking license. Such an institution is
generally referred to as a non-bank.
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