what are non-banking financial institutions? Give five examples of such institutions in your country.

Question

what are non-banking financial institutions? Give five examples of such institutions in your country.

Answer 1

Hi Lillian~

 

NBFIs are financial institutions that offer financial services but do not have a banking license, and cannot accept deposits from the public. So they are not not supervised by a national or international banking regulatory agency.

 

Examples of these include pawn shops, check cashing locations, payday lending, securities/commodities firms and currency exchanges. 

 

Hope this helps!

 

Leslie