THE IMPORTANCE OF DEPOSITORY FINANCIAL INTERMEDIARIES FOR THE DEVELOPMENT OF NATIONAL ECONOMY
Abstract
Modern economy is characterized by a large number of various financial intermediaries. Financial intermediation inRepublic of Srpska is mainly performed through banks and microcredit organizations. The bank sector is one of pillars of economic-social system of our country. Banks play the most important role as participants on financial market through the activities of collection, allocation and investment of national savings and other forms of capital. The more developed the bank sector is, within the financial system, the more efficient the allocation will be, the bigger the growth and development of a company will be, and therefore, economy in general. The microcredit sector is more and more present in the financial system of the Republic of Srpska, apart from banks. What influenced the occurrence of a larger number of microcredit organizations in the Republic of Srpska is citizens’ determination to start micro-business; funds to start it would be obtained at microcredit organizations. This paper will analyze the achieved level of financial intermediaries’ development in the Republic of Srpska and their importance for the development of national economy. The aim is certainly to analyze the possibilities offered by banks and microcreditorganizations to individual persons, independent entrepreneurs, as well as larger companies through giving loans, collection of deposit, payment transactions, guarantees and numerous possibilities which the above mentioned financial intermediaries offer, thus improving national economy development.
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References
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