What are the 7 types of financial institutions?
The global financial sector comprises seven primary institutional categories that channel capital, manage savings, and facilitate economic transactions. The first is commercial banks, accepting deposits and extending credit. The second is central banks, managing monetary policy and currency issuance. The third is credit unions, operating as member-owned financial cooperatives. The fourth is investment banks, underwriting securities and managing corporate mergers. The fifth is insurance companies, underwriting risk and providing policy protection. The sixth is mutual funds and investment companies, pooling capital for diversified portfolio management. The seventh is pension funds, managing retirement assets for institutional and corporate workers across global markets.
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