DISCOUNT HOUSES are establishment that specializes in the provision of short term borrowing and lending. They perform the duty of discounting Treasury Bills that belongs to the Government, bills of exchange and other securities. FUNCTIONS OF DISCOUNT HOUSES Provides safe and liquid assets to the banking system as at when they are needed. Provides short-term …
The clearing house was established to carter for the following functions: To encourage co-operation in monetary matters. To encourage the use of currencies. To promote easy payments. To promote a greater trade liberalization. To boost the use of foreign reserves.
Promotion of international trade. Helping to solve the balance of payment problems of the less developed countries.
To solve the balance of payments problems among developing countries. To solve the problems of external debt among developing countries. To accelerate international trade among developing countries. To work out modalities aimed at helping the developing countries attain economic growth.
THE UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT (UNCTAD): This organization was established in 1964. It is an organ of the United Nations organizations.
To help finance major economic and social projects of member countries. To raise funds from outside world to be invested on viable and profitable projects of member states. To offer technical advice and manpower training to its members. To promote public and private investment aimed at enhancing socio-economic progress of Africa.