Add to ORKGAbstract: Financial crisis is a systematically covering upset of financial markets and institutions financial sector, monetary circualtion, international finance, government, municipal and corporate finance. The phenomenon when the financial crisis can be shifted from one organization to another or even from one country to another is called financial contagion. Financial contagion can also be a trigger of currency crisis, financial crisis, economic crisis at domestic and international levels. The main aim of this article is to reflect concepts, forms and transmission mechanisms of financial crisis and contagion and the importance of his studies for financial policies elaboration and promotion