Representative office of any bank
Explain what is meant by the Representative office of any bank.
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Representative office is small service facility organized by the parent bank personnel which is developed in order to assist the MNC clients of parent bank in its dealings with correspondents of the bank. It is a mode for parent bank for providing its MNC clients with the level of service larger than that provided simply through a correspondent relationship.
Explain the term Contingent Liabilities?
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Owned by an entity, something that provides benefits and whose cost can be measured. The measure of the value of assets in dollar appears on the
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