These is a financial institutions set up
essentially for granting short term loans. These
is made up a number of institutions which
specialize in provision of funds for the
financing of the flow of trade. The main
institutions includes :
1. Commercial banks.
2. Acceptance houses.
3. Discount houses.
4. Insurance companies.
There are others which are not organized
institutions of the money market.
Money market grant short term loans payable
within three (3)months and for some cases up
to 12 months.
1. It encourage saving and investment.
2. It promote financial mobility, that is the
transfer of funds from one sector to another.
3. It implements the monetary policies of the
central bank.

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