Financial institution: meaning, definitions and examples
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financial institution
[ fɪˈnænʃəl ˌɪnstɪˈtjuːʃən ]
banking services
A financial institution is an establishment that focuses on handling financial transactions, such as deposits, loans, investments, and currency exchange. These institutions may include banks, credit unions, and brokerage firms.
Synonyms
bank, brokerage firm, credit union
Examples of usage
- I need to visit the financial institution to deposit my paycheck.
- She works at a financial institution as a loan officer.
economic system
In the broader sense, a financial institution refers to the overall system within a country that manages the flow of money, credit, and investments. It plays a crucial role in the economy's stability and growth.
Synonyms
banking system, financial system, monetary system
Examples of usage
- The financial institution in this country is regulated by the central bank.
- The government is working to strengthen the financial institution to attract more foreign investment.
Translations
Translations of the word "financial institution" in other languages:
🇵🇹 instituição financeira
🇮🇳 वित्तीय संस्था
🇩🇪 Finanzinstitut
🇮🇩 lembaga keuangan
🇺🇦 фінансова установа
🇵🇱 instytucja finansowa
🇯🇵 金融機関
🇫🇷 institution financière
🇪🇸 institución financiera
🇹🇷 finans kurumu
🇰🇷 금융 기관
🇸🇦 مؤسسة مالية
🇨🇿 finanční instituce
🇸🇰 finančná inštitúcia
🇨🇳 金融机构
🇸🇮 finančna institucija
🇮🇸 fjármálastofnun
🇰🇿 қаржы институты
🇬🇪 საფინანსო ინსტიტუტი
🇦🇿 maliyyə institutu
🇲🇽 institución financiera
Word origin
The term 'financial institution' originated in the early 19th century to describe entities that provided financial services to individuals and businesses. Over time, the concept expanded to include various types of organizations involved in managing money and investments. Today, financial institutions play a critical role in the global economy by facilitating transactions, allocating capital, and influencing monetary policies.