Question

Briefly discuss the concept of Indigenous Banking System.​

Answer 1

Answer:

Indigenous bankers are private firms or individuals who operate as banks and as such both receive deposits and give loans. Like banks, they are also financial intermediaries. They should be distinguished h professional moneylenders whose primary business is not banking but money lending.

Explanation:

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Answer 2

Answer:

Indigenous bankers are private firms or individuals who operate as banks and as such both receive deposits and give loans. Like banks, they are also financial intermediaries. They should be distinguished h professional moneylenders whose primary business is not banking but money lending.