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essay the role of bank

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The role of banks in the Nigerian's economy?

the role of commercial banking in the development of nigerian economy


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Why do banks play such an important role in the economy?

They allow people to easily exchange money and write checksHolds money until you are ready to use itAllows peopleto lend and borrow money


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The role of banks in the Nigerian?

the role of commercial banking in the development of nigerian economy


Explain the role of banks in the economy?

The banks play a pivotal role in a country's economy. The economy of a country is bound to crumble down if the banks are closed indefinitely. The banks provide necessary impetus to growth by pumping finance to industrial sector,without which the production cannot accelerate which is vital for employment and overall growth of the economy. However, the responsibilities of private banks are limited and they are more inclined for augmenting their profit acceleration. Whereas the nationalized banks have their social responsibilities to lift the cottage and small industries sector by providing soft loans, without caring for their profit motivation.


Why do banks play a crucial role in the economy and financial system?

Banks play a crucial role in the economy and financial system because they facilitate the flow of money, provide a safe place for people to store their funds, offer loans to individuals and businesses for investments and growth, and help regulate the overall financial stability of the economy.


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Shadow banks in the USA play a significant role in the financial system by providing credit and liquidity to the economy. They differ from traditional banks in that they are not subject to the same regulations and oversight, which can make them more risky but also more flexible in their operations.

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