The purposes and functions of elections in the political systems include the Clarification of Issues, Selection of Candidates for Public Office, Peaceful Transfer of Power, Political Participation and Communication.

Central bank is a financial institution which controls and supervises the entire monetary system of a country while Commercial bank may be defined as a financial institution which carries out retail banking services, set up for keeping and lending money to people, owned by organisations, individual or governments, for the purpose of making profits.