Financial Institutions Overview

This lesson defines financial institutions and lists the types of banking and non-banking financial institutions. It also explains the key differences between these institutions and their functions in the economy.

• 09:10 “banker to the government that is it serves as banker to the government the government operates accounts with the central bank. Issues and control of currency they are the only bank authorized by law to issue currency and...”
• 03:25 “higher-purchase companies, building societies. Let's now define a bank. What is a bank? A bank is a commercial institution which performs various financial activities such as accepting and handling of deposits of its cus...”
• 07:28 “depth out to the person they have borrowed money from there is what is called bill of exchange which is the recommend signifying that their customer is indebted to a person which is known as a creditor so in essence the...”