Retirement funds dominate the industry
The Non-Bank Financial Institutions (NBFI) sector - i.e. organisations that do not have a full banking licence and cannot accept deposits from the public - remained resilient despite the harsh impact of Covid-19 on the economy.
This is according to information availed by the sector’s regulator, Non-Bank Financial Institutions Regulatory Authority (NBFIRA).
The NBFI sector is a broad industry made up of among others: retirement funds insurance, capital markets, lending activities with the latter comprising of pawnshops and micro lenders.
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In this article:NBFIRA statistical report, Non-Bank Financial Institutions Regulatory Authority (NBFIRA), The Non-Bank Financial Institutions (NBFI)
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