International financial institutions are part of our financial system.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	True
B	False

Explanation:

Detailed explanation-1: -The definition of a financial institution typically describes an establishment that completes and facilitates monetary transactions, such as loans, mortgages, and deposits. Financial institutions are a place where consumers can effectively manage earnings and develop financial footing.

Detailed explanation-2: -Mobilization of economic and financial cooperation, including issues related to the transfer of resources, is one of the key responsibilities of the international financial institutions (IFIs). Together, the UN and IFIs make up the bulk of the global governance system in place today.

Detailed explanation-3: -They include the World Bank, the IMF, and the International Finance Corporation. Today the largest IFI in the world is the European Investment Bank which lent 61 billion euros to global projects in 2011.

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