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Question 3 (a) Critically discuss the issues that may appear in the financial system if financial intermediaries did not exist and how these issues could

Question 3

(a) Critically discuss the issues that may appear in the financial system if financial intermediaries did not exist and how these issues could be resolved. (30 marks)

(b) Carefully discuss the mechanism of a financial system and functions of financial intermediaries in the financial system. (30 marks)

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