Question

Provide a summary of the importance of financial companies, using the following issues:

1- The difference between financial and non-financial companies
2- The difference between banks and insurance companies (in terms of accounting and financing)
3- What do financial companies offer to the Palestinian economy?
4- By taking a sample, what is the composition of ownership in the banks and the insurance companies in Palestine?

Word Limit;

Upper word limit: 1,300 words for a whole assignment

Lower word limit: 800 words for a whole assignment

Answer 1

Difference between money and Non money firms - the most distinction between these 2 is that the money firms provide loans to the borrowers at some interest charges however the non money firms they are doing everything aside from the financially works. the most samples of money firms like - Muthoot gold finance they supply loans to the borrowers by mortgaging their golds. however the non money firms area unit mutual funds they take the investment quantity from the folks and invest within the different investment firms and build profits and provides some profit share to the folks.

Difference between banks and Insurance firms- the most distinction between these 2 is that in banks folks deposits and withdraws their quantity for his or her savings and expenses functions however the insurance firms offer insurance to the folks once the folks pay some premiums to the insurance companies. Insurance firms primarily insures the lifetime of the persons.But banks ensures the safe deposits of the cash of the folks within the banks.

Palestinian Economy - money firms provide to the Palestinian economy for the essential social services for the good thing about the economy and also the for the structure and development. but the Palestinian has the most industries of cement,textiles,olive,food process etc thus these business helps the economy in generating the financial gain. and also the Palestinian economy is robust however currently a days thanks to coronavirus it faces heaps of economic condition and challenges.

Ownership and Composition - Composition and possession has in hand by the Jordan and occupied the geographical region and Israel captured the geographical region. but Palestine has controlled by Baby lions,Romans,Greeks,Persians etc. thus all the banks and insurance firms of the Palestine area unit controlled by Islam.

Summary: money firms area unit those firms that lends cash to the borrowers at some interest charges. And within the world there area unit numerous kinds of establishments that circulates and manage the finance within the market and creates liquidity. And these area unit like money,Non money firms,Banks and Insurance firms however all of those do functions otherwise. however in Palestinian economy all area unit these controlled by the Israel and Islam but the palestinian economy is incredibly sturdy thanks to main industries operating there like - Olive wood.textiles,cement etc however currently a days thanks to coronavirus its badly compact

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