Meaning of the word "financial system" in English

What does "financial system" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

financial system

US /fəˈnænʃəl ˈsɪstəm/
UK /fəˈnænʃəl ˈsɪstəm/

Noun

a system that allows the exchange of funds between lenders, investors, and borrowers

Example:
The stability of the global financial system is crucial for economic growth.
Regulations were introduced to prevent another crisis in the financial system.