Question

Which of the following is not one of the roles played by Global Financial Centres?

Q: Answer-Which of the following is not one of the roles played by Global Financial Centres?

GFCs can play a significant role in facilitating capital account convertibility, i.e. the ability of individuals and institutions to freely move capital in and out of a countrys financial system. Global financial centers play an important role in facilitating capital account convertibility, by providing a platform for cross-border financial transactions, developing financial infrastructure, encouraging foreign investment, promoting financial liberalization, and influencing international financial policy.