Explain the functions of banking financial institutions in your country.
- Accepting deposits.
- Advancing loans.
- Act as custodians of their customers valuables (by providing strong rooms).
- Insurance of various forms of credit
- Instruments/provides easy means of payments such as cheques, drafts, and credit and debit cards.
- They issue letters of credit and act as references (to their clients).
- Provide advice to investors (on possible investment choices).
- Under – write shares and debentures of companies as well as discount bills of exchange.
- Acts as trustee and executors of property and will of their customers.
- Exchange of currencies of different countries.
CATEGORIES Economics
TAGS Dr. Bbosa Science
