[ҳҲҳŔỜŔỜҳҲҳ]

These intermediaries come between
ultimate borrowers and lenders by transforming direct claims into indirect claims. Financial
intermediaries purchase direct (or primary) securities and, in turn, issue their own indirect
(or secondary) securities to the public. For example, the direct security that a savings and
loan association purchases is a mortgage; the indirect claim issued is a savings account or a
certi
ficate of deposite



ممكن احد يشرحلي ايش قصدهم بالمثال مو قادره استوعبه :)