Section 8 Flashcards
What are some financial instituations
Central Bank
Commercial Banks
Goverment Agencies
Non Banking Finacial Institues
Micro-Lending Agencies
What are some functions of financial institutions
Accept deposits
Lending funds from deposits collected
Making payments on behalf of customers
What are some services of financial institutions
Advisory Services
Provision of Safety Deposit Boxes
Provision of Overdraft Services
Debit and Credit Cards
Trustee Work
Online Banking
ATM and ABM Machines
What is the role of financial regulatory bodies
The role of financial regulatory bodies is to monitor, control and guide various industry sectors in order to protect consumers
What is the function of financial regulatory bodies
The funtion of financial regulatory bodies are are to enforce regulations and licenses of various financial activities including depository, lending, collection and money transmission activities
What are some ways individuals can manage personal income
Budgeting
Savings
Investment
Financial Advising
What are some short term sources of financing
Overdraft
Loans from family members
Short Term Secured Loans
Short Term Unsecured Loans
Retained Profits
Sale of Assets
Indigenous Credit (eg. Sou Sou)
PRivate Money Lenders
What are some long term sources of financing
Issuing new shares
Debentures
Goverment loans and grants
Venture Capital
Angel Investors
Hire Purchase
Leasing
Crowdfunding
What are some personal sources of income
Friends and family
Personal savings
Government grants
Loans
Equity
Venture capital
Crowd funding
What is the regulatory role of the Financial Services Commissions
The FSC supervises and regulate’s a country’s financial system to ensure the safety stability and integrity of the system
What is the regulatory role of the Supervisor of Insurance
The Supervisor of Insurance issues the licsense which companies need to operate in the insurance industry and regulates the insurance industry to protect the protect the interests of the public
