Q191
Institutions that facilitate channelling of funds and all related functions are classified as
A.
financial institutions
AnswerB.
payable institutions
C.
non-financial institutions
D.
derivative institutions
Answer: Option A
Solution
Answer: Option A
Solution:
Institutions that facilitate channelling of funds and all related functions are classified as financial institutions. A financial institution (FI) is a company engaged in the business of dealing with financial and monetary transactions such as deposits, loans, investments, and currency exchange.