Month: November 2020

MODE-this refers to the way through which goods and services, people move from one place to another e.g.land, air, and water. UNITS OF CARRIAGE-anything which goods and services are transported e.g. vehicles, aero planes and containers. TERMINALS –this are Read More …

Facilitates movement of goods, people, and services from one place to another. It creates employment e.g. drivers, conductors, pilots, middlemen etc. It minimizes wastage of resources where they are produced in large quantities e.g. maize plantations. Bridges the gap between Read More …

To acquire the card the applicant is required to have an established credit record. The holder is charged high interest rate card company. It is prone to abuse through fraud. The interest is charged if there is delay in Read More …

Enables the holder to get goods and services from specified sellers without paying immediately. Usually convenient to carry around. Enables the holder to get money from specified banks. Increases credit rating of an individual. It is safer to carry the Read More …

Credit cards usully enables the holder to obtain goods and services on credit from specified suppliers. They also enable the holder to obtain money from specific banks and other specified financial institutions. They are available to adults of approved credit Read More …

Commercial banks provide current accounts,savings and fixed accounts but NBFIs mainly operate savings and fixed deposit accounts. Commercial banks normally provide short and medium term finance while NBFIs provide medium and long term finance. Commercial banks provide finance that is Read More …

They stimulate competition with commercial banks over deposit and other credit markets hence stimulate efficiency in terms of improved services to borrowers in the financial market. They have enhanced the development of financial market through the introduction of great variety Read More …

This are institutions that address themselves to the financial needs of particular sectors of the economy which commercial banks have not been able to cater for adequately.the examples include; Development finance institutions-primary goal is to promote and aid growth and Read More …

Spurring economic growth and development-investments being made savings made clients and others offered to businesses and individuals as loans. Currency and economic stability-it ensures that the value of a countrys currency is stable in relation to other countries Read More …

Issuance of currency-this is usually in notes and coins,in correct amounts to check on inflation. Acts as governments banks-ie keeps overnmentsaccounts,mangagesovernment borrowing as well as a financial advisor to the government. Bankers to commercial banks(banks banker)- Acts as a custodian Read More …