What is Offshore banking center
What is offshore banking center?
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Offshore banking center is a country whose banking system is organized in order to allow external accounts except normal economic activity of the country. Offshore banks function as branches or subsidiaries of parent bank. Primary activities of offshore banks include seeking deposits and grant loans in currencies in currency other than that of the host government.
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Money fund: Money fund is as well main instrument of the money market. This fund that can be employed for fulfilling the requirements of banks to repay the customers.
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