1) At the regional level, the financial system is an interconnection of financial institutions, markets, instruments and regulators that enable the transfer of money from savers to borrowers. Each country has an organized body that regulates the financial system, usually the Ministry of Finance, and, from a global perspective, there are organizational bodies that oversee the entire financial system, such as the World Bank and the Monetary Fund international. The components of a strong and efficient financial system, at the regional level, are financial institutions, financial markets, financial instruments and financial regulators. Financial institutions, otherwise known as financial intermediaries, are establishments that offer a variety of financial services to their clients, whether individuals, businesses and/or governments. The primary role of financial institutions in the financial system is to act as an intermediary between borrowers and savers to channel funds from savers to borrowers. Generally speaking, there are two types of financial institutions; depository and non-depository institutions...