The basis of any sound capital investment in any Norwegian banking institution begins with understanding the laws and regulations. Without this knowledge, you're essentially flying blind in an increasingly complicated banking industry. Banks in Norway are much smaller in scale than their U.S. counterparts. The restrictions imposed on the banks in Norway are much less stringent than most every other country, although recently there's a movement to shift to more regulatory control. This fluidity is another reason why it's imperative to stay current on Norwegian banking institutions laws.

There are several avenues through which to attain the proper banks in Norway laws and regulations information and education. Norway banking associations provide a wealth of regulatory support and a network of banking professionals to help you navigate the laws. You can also use central banking agencies and various banking industry publications to know the country's laws and regulations. However, before you make a deposit there are few items to consider, such as:

1. Contact a Norway bank association about laws and regulation.

2. Review the regulatory information from the consumer banks in Norway.

3. Examine the governmental institute that helps govern Norwegian banking institutions.

Action Steps
The best contacts and resources to help you get it done

Speak to a representative at associations of Norway banks

Banking in Norway is much easier when you or your company tap into a network of banking professionals. These professional can explain the current capital requirements of the Norwegian banks among many other regulatory aspects of the industry. Banking associations have the added advantage of being able to influence governmental banking philosophy because of the power of the member banks.

I recommend: Call the Norwegian Savings Banks Association for the latest information on regulations for international banking in Norway. Contact the Norwegian Financial Services Association for banking industry rules and information.

Evaluate the regulatory statements from Norway banks

The central and commercial banks in Norway are an excellent source of regulatory information. These entities must employ and interpret the regulations. Often commercial banks will also institute their own banking guidelines. Therefore, it's important to ask the bank officers for a copy of their rules and regulations before opening an account.

I recommend: Review the legislation information available at the Bank of Norway for governmental regulation updates. Contact the DnB NOR, which is one the largest commercial banks in the country.

Assess the regulatory information from supervisory authorities in the Norway banking system

Another excellent resource for laws and regulations of the Norway banking system are the councils that govern economic activity within the country. These bodies assemble the budget for the government and institute any major policies for the banking system. Their role is not very hands-on but they do influence the way banks operate in Norway.

I recommend: Study the Norwegian economic and budgetary information at the Ministry of Finance. Examine the regulatory documents published by The Financial Supervisory Authority of Norway.

If you’re thinking of moving to Norway or doing business in the country, then finding the right Norway bank to handle your financial business is going to be at the top of your To Do list.

Take the time to research the various Norway banking institutions carefully. Volatility in the financial sector of all countries is not uncommon these days. Here a few things to keep in mind:

1. Collect all of the information you can on banks in Norway before you move or conduct any business in the country.

2. Seek help with finding the right bank in Norway from people who have already gone through the process. Ask friends, family, expatriates or anyone who has banked in the nation for information regarding the steps you need to take to get things done.

3. Use the largest commercial bank in Norway for personal use since they will have the most branches throughout the nation as well as provide more services.

Action Steps
The best contacts and resources to help you get it done

Assemble general information on banks in Norway

It is important to know all you can about business banking in Norway before you begin the process of opening a bank account in the country. You want to know about the banks policies, foreign investment, the exchange rate and any other information you can think of to make your business or personal transactions easier.

I recommend: Danske Bank has reports on banking activities in Norway from 2008. Fancy A Mortgage covers the basics of banking in Norway.

Contact expatriates for advice on which Norwegian banking institution to use

If you don't know where to begin when banking in Norway, seek out expatriates for advice. They have already made the transition from the US to Norway so they can give you the information you need to begin that process.

I recommend: Allo’ Expat offers a wealth of information on business and finance in Norway. Expatriates.com is a site where you can communicate with expats and tourists regarding all aspects of life and business in Norway.

Use the largest Norwegian banking institutions for everyday business

Just as there are benefits to using the big banks here in the US, there are advantages to using the biggest of commercial banks in Norway for your everyday banking. Using the largest of Norway banks will give you more access to branches throughout the nation, more access to ATMs as well as just making your transition to Norway much easier.

I recommend: Den norske Bank is one of the largest banks in Norway with offices around the world. They even offer Internet banking services in English for their non-Norwegian customers. Norway Savings Bank is one of the oldest banks in the country with branches throughout the nation.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Pay attention to the actions of the Central Bank of Norway. The decisions they make will affect monetary policy, other banks in Norway and the economy as a whole.

Though banks in Norway are technologically modern, they do not have the same international clout of banking institutions from other European nations. In addition to the central Norges Bank, of which the government is the sole shareholder, there are also several banks that cater to specific industries, including agriculture and housing.

As of the 1990s, foreign banks were allowed to establish branches in Norway, but most people use local savings banks. As you gather banks in Norway news and trends, you should be aware that there are three types of banks:

1. Foreign institutions with Norway bank branches.

2. Commercial banks.

3. Savings banks, or sparebanks as they are called in Norway.

Action Steps
The best contacts and resources to help you get it done

Read news from the bodies that regulate Norwegian banking institutions

In addition to a central bank, Norway also has a tight regulatory board to oversee private banking operations. The country is also a member of the World Bank, and as such has a representative on the World Bank's Executive boar

I recommend: The Financial Supervisory Authority of Norway, or Kredittilsynet, publishes a constant stream of press releases and information that relate to the consumer banks in Norway and the commercial banks in Norway it oversees. If you have a list of commercial banks in Norway, make sure an institution is legit by checking it against the Kredittilsynet's official Registry of Financial Institutions. You can also get the latest on the World Bank's doings in Norway, the events it holds there and Norway-related news.

Get banks in Norway news and trends in real time

If you're a trader who needs to know the latest on banking in Norway, you have several options. You can track the value of Norwegian krone against the dollar and other foreign currencies, find out if the central bank is about to cut interest rates and get the heads up on current trends in Norwegian industry that would affect Norway banking.

I recommend: Banking Industry Today is constantly updated with the latest financial news from around the globe. You can subscribe to its RSS feed to stay up to date on Norway banks, or subscribe to the Norway Central Bank News feed if you so choose. You can track the value of the Norwegian krone at RatesFX, which also publishes currency predictions and historic data. The Norway Post also publishes daily information on Norway banks.

Gather news directly from a Norwegian banking institution

Most Norway banks have an online presence for investors who want to know more about their operations. Probably the most authoritative source of information is Norges Bank, the country's central institution.

I recommend: You can sign up to receive alerts from Norges Bank as news becomes available through its website. You can choose to just get the bank's annual report, or you can even find out more about doctoral dissertations in economics. Storebrand Bank was developed for corporate investors and retailers, and you can go online to find its financial reports.

The banking system in Norway is one of the world's more stable financial systems. That doesn't mean that there aren't challenges involved with banking in the country, however. First, it's important to understand the banking structure as well as the entities that regulate the banks in Norway. One way to study the banking and regulatory structure in Norway is to learn the key terms that are relevant to these topics. These terms will provide a solid basis on which to build a thorough understanding of banks in Norway.

Action Steps
The best contacts and resources to help you get it done

Norges Bank

The Norges bank is the central bank in the country. Its responsibilities are to ensure economic stability, issue currency policy, and organize payment and financial markets in an efficient manner. The Norges Bank is very similar to its U.S. counterpart, the Federal Reserve.

I recommend: Review the goals and responsibilities of the Norges Bank for more information.

Nordic Investment Bank

Nordic Investment Bank or NIB is an international financial institution that's owned by several countries in the region, including Norway. In addition to the Icelandic countries, the NIB operates in the Middle East, Europe, Asia and Latin America.

I recommend: Examine the mission and strategy for the Nordic Investment Bank.

Nordic Development Fund

The Nordic Development Fund is a local bank that invests in developing nations. One of its primary goals is the reduction of poverty. The bank is a partnership between Norway, Iceland, Finland, Sweden and Denmark.

I recommend: Evaluate the Nordic Development Fund information from its website.

Citi Group Norway

Citi Group Norway is a leading international bank that maintains a presence in both Norway and the United States. If you're new to the Norwegian banking system, it may be a good idea to contact banks that have international experience.

I recommend: Assess the history and business information for Citi Group Norway for further details.

European Economic Area

Norway is designated as a European Economic Area. This means Norway has pledged that it will exercise four freedoms in its financial markets: freedom of movement of persons, capital, services and goods. The agreement also includes consumer and business protections when banking in Norway.

I recommend: Study the definition of the European Economic Area available at the European Commission.

Norwegian Kroner

The Norwegian Kroner is the primary currency of the country. A stable currency valuation most often means a stable banking system.

I recommend: For current currency valuations and further details on the Norwegian Kroner, review the data available at Convert World.