Financial Institutions
This institution accepts deposits, offers checking account services and basic financial products like loans
Commercial Bank
Banks offer a range of accounts where customers can keep their...
Savings and Deposits
This is an account where you can store money that you do not need immediately, and earn some interest on your savings
Savings Account
This is an amount of money that you have to pay to the government so that it can pay for public services such as roads and schools
Tax
Social Services are...
Social services are government services provided for the benefit of the community, such as education, medical care, and housing.
These are usually non-profit organisations and are owned by their members. They encourage members to save and in return, provide them with credit at relatively low rates of interest.
Credit Unions
Banks and other financial institutions also provide means of making ... such as cheques and bank drafts
Making Payments
This is an account where money can be placed for safe-keeping with a bank or other financial institution
Deposit Account
This kind of tax occurs where a greater proportion of income is taken from a wealthy person than from a poor person.
Progressive Tax
This is the most common social service provided by the government in the Caribbean. It directly impacts on the society's ability to stay alive and well.
Healthcare
These cover the risks of their customers and provide compensation where loss in suffered. In essence, these companies protect against possibilities that can affect individuals and organisations in a negative way.
Insurance Companies
Financial institutions can also provide means of .... This refers to putting aside a fixed amount of money and expecting some kind of gain out of it within a stipulated time frame.
Investing/Investments
These are investments held for short periods, usually between one week and a maximum of twelve months.
Short term fixed deposit
This type of tax is one where the poor pay a higher percentage of their income than the rich. This happens when the government imposes tax at a set rate.
Regressive Tax
This is a system of benefits for employees who pay contributions during their working lives into a fund. This is done incase of loss of earnings, incapacity to work and retirement/death of worker
National Insurance
This is a public institution that manages the currency of a country or group of countries and controls the money supply. Each country has one whose job it is to oversee the running of the financial system, to control inflation and to license other banks to operate in the country.
Central Bank
Need some money, but don't have it in your account, you can apply to a financial institution to get a ...
Loan
This involves a small group of people who all know each other or members of a family who pool their money in an informal savings club. Participants may agree to contribute a set amount of money on a weekly or monthly basis and take turns getting a payout
Sou Sou
This type of tax is one where everyone pays the same rate, regardless of income
Proportional Tax
This social service is free in most countries up to a certain point. It helps shape the country's current and future working population
Education
These agencies provide small loans and other banking services to unemployed or low-income individuals who may not be able to get finance from banks.
Micro Lending Agencies
These are typically long term investments which mature with interest after a certain date
Bond
This is the most common form of savings for children in the Caribbean
Cash Pan/ Cash Box/ Piggy Bank
This is a tax on money and assets given by one person to another, for example, in the will of someone who dies. Also sometimes referred to as inheritance tax
Capital transfer tax
Persons use these to get from one place to another.
Having the largest pitch lake in the world does not assist certain countries in providing quality versions of this however.
Roads