A. financial institutions
B. payable institutions
C. non-financial institutions
D. derivative institutions
✅ The correct answer is option A.
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.
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.