Enables the holder to get goods and services from specified sellers without paying immediately. Usually convenient to carry around. Enables the holder to get money from specified banks. Increases credit rating of an individual. It is safer to carry the Read More …
Category: Commerce
Development of Credit and Debit Cards as Means of Payments
Credit cards usully enables the holder to obtain goods and services on credit from specified suppliers. They also enable the holder to obtain money from specific banks and other specified financial institutions. They are available to adults of approved credit Read More …
Differences between Commercial Banks and NBFIS
Commercial banks provide current accounts,savings and fixed accounts but NBFIs mainly operate savings and fixed deposit accounts. Commercial banks normally provide short and medium term finance while NBFIs provide medium and long term finance. Commercial banks provide finance that is Read More …
Roles of Non-Bank Financial Institutions
They stimulate competition with commercial banks over deposit and other credit markets hence stimulate efficiency in terms of improved services to borrowers in the financial market. They have enhanced the development of financial market through the introduction of great variety Read More …
Non-Banking Financial Institutions
This are institutions that address themselves to the financial needs of particular sectors of the economy which commercial banks have not been able to cater for adequately.the examples include; Development finance institutions – primary goal is to promote and aid Read More …
Role of The Central Bank In An Economy
Spurring economic growth and development – investments being made by savings made by clients and others offered to businesses and individuals as loans. Currency and economic stability – it ensures that the value of a countrys currency is stable in Read More …
Functions of the Central Bank
Issuance of currency – this is usually in notes and coins,in correct amounts to check on inflation. Acts as governments banks – i.e keeps governments accounts, manages government borrowing as well as a financial advisor to the government. Bankers to Read More …
Objectives of Monetary Control by the Central Bank
THE CENTRAL BANK This is an institution established by the government of that country to manage and control the supply of and demand for money in a country’s economy. It can also be defined as the highest institution in a Read More …
Functions of Commercial Banks
COMMERCIAL BANKS – They are financial institutions that carry out commercial services,accept deposits from the public and advance loans.they are formed with the aim of making profit hence are trading businesses like any other. FUNCTIONS OF COMMERCIAL BANKS Accepting deposits-they Read More …
Banking
Banking refers to all the activities carried out by financial institutions involving money.this financial institutions include: central bank,commercial banks and non banking financial institutions e.g. industrial and commercial development corporation(I.C.D.C). Some important terms in banking. Bank statements: This is a Read More …