Types of Finance
1. Personal Finance: It refers to the administration of a person’s or a family’s financial assets. It covers debt management, retirement planning, investing, saving, and budgeting.
2. Corporate Finance: It is the study of how corporations manage their finances. This covers financial planning, risk management, capital investment choices, and managing the business’s cash resources to optimize shareholder value.
3. Public Finance: It is the study of how governments and other public bodies manage their finances. It covers taxation, spending by the government, budgeting, and public fund management.
4. Sharia-Compliant Finance: Operating in compliance with Islamic norms, which prohibit taking part in excessive uncertainty (gharar) and charging interest (usury).
5. Project Finance: Getting money for big initiatives that frequently have long-term revenue sources (building power plants, roadways, etc.).
6. Behavioral Finance: Psychological variables: Research the ways in which biases and heuristics, among other psychological variables, affect financial decision-making.
7. Retail Finance: It is the provision of financial services and goods, like credit cards, mortgages, and loans, to individual consumers.
8. Small-Scale Lending Finance: Offering financial services to those living in underprivileged areas, such as savings accounts and small loans.
9 Green Finance: Concentrating on investments that are socially and environmentally responsible.
10. Financial Technology (Fintech): Utilizing technology to deliver cutting-edge financial services, such as robo-advisors, digital payments, and online banking.
11. Real Estate Finance: Finance for real estate transactions, involving both residential and commercial properties.