What affects Covid19 pandemic have on the financial industries in The Bahamas.
Instructions
List the major types of financial institutions in The Bahamas, and briefly describe the primary function of each.
Answer
Finance in the BahamasFinancial InstitutionA financial institution (FI) is a corporation that does business deals concerned with finance and monetary transactions that include deposits, investments, loans, and currency exchange. Finance institutions is an umbrella word that constitutes many different business operations within the financial service sector. They include banks, trust companies, brokerage firms, insurance companies, and investment companies. Many people living in developed economies must have at least sought the services of these financial institutions. Financial institutions play a key role in the economy of a country as they are relied on not only by the people but also by companies and the governments to run their daily transactions.Banking in The Bahamas In 1837 is when b...
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