Glossary
Children’s Savings Account / Savings Deposit
A special account opened in the name of a child for the purpose of saving funds. The child cannot withdraw money from the account; only a parent or guardian can do so with permission from the district court. Upon reaching adulthood, the account is transformed according to the bank’s current terms and conditions.
Civil Contract
A contract concluded between two or more natural or legal persons regulating their rights and obligations regarding a specific transaction or service. It is regulated by the Obligations and Contracts Act and the Civil Procedure Code.
Claim (Complaint)
The consumer’s legal right to require the seller, within a 2-year period, to repair or replace a defective product, refund its purchase price, or reduce the price, as well as to claim compensation for any damage caused by the defect.
Coin - glossary for children
Metal money that is used for paying.
Coins
Metal money that is used for paying.
Collateral
A security provided by the borrower or a third party in the form of a tangible asset that has value and can be used by the lender to recover the debt in case of default. Collateral may include real estate (such as a home or land plot), movable property (such as a car, equipment, valuables), or cash deposited in an account. It serves as an additional guarantee for the repayment of the loan.
Collateral (Security)
An asset or legal guarantee provided to secure the repayment of a debt or the performance of an obligation. This may include a specific pledged asset (collateral) or any type of legal guarantee for an obligation (security).
Collectibles
Items such as paintings, coins, or antiques that that are of interest to investors primarily because of the expectation that their value will increase over time. In recent years, certain luxury goods—such as cars, watches, and handbags—have also increasingly been recognised as collectibles.
Collective Investment Undertaking
A legal entity or segregated assets established to raise funds from multiple investors, which are invested collectively according to a defined investment policy and strategy. Investors acquire units or shares, bearing the risk and receiving the benefits from the performance of the overall portfolio. Collective investment undertakings are divided into mutual funds and investment companies. They are regulated by the Collective Investment Schemes and Other Collective Investment Undertakings Act and supervised by the Financial Supervision Commission. Their primary purpose is to provide professional management and diversification of investments, thereby reducing the individual risk for investors.
Commercial Bank - glossary for children
A bank that collects money from people and businesses, keeps it safe, and helps them use it for payments, savings, or loans.
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