--%>

What is Offshore banking center

What is offshore banking center?

E

Expert

Verified

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.

   Related Questions in Financial Accounting

  • Q : Link financial accounting and

    is there a link between financial accounting and programmed decision

  • Q : Appropriated retained earnings The

    The portion of retained earning that is not available for dividends. To appropriate retained earnings, the company must record the partitioning of retained earnings. The company can use appropriated retained earnings for contingencies or big projects. Appropriating retained earning does not invol

  • Q : Please help me he following information

    he following information is taken from the financial statements of an entity: 20x4 20x3 Property, plant and equipment $4,600,000 $4,200,000 Accumulated depreciation (1,800,000) (1,350,000) Depreciation expense 560,000 Gain on disposal of PPE 65,000 The asset disposed of had a cost

  • Q : Report on Business memo analyzing

    Write a Report on Business memo analyzing monthly sales of a company. Try to explain it with graphs.

  • Q : Types of secondary market trading

    Compare and contrast a variety of types of secondary market trading structures.

  • Q : International bonds Explain why most of

    Explain why most of the international bonds have high Moody’s or Standard & Poor’s credit ratings?

  • Q : Why teaching of accounting is not simple

    Why teaching of accounting is not simple. Illustrate this statement.

  • Q : Guidelines for effective communication

    Define and explain the four guidelines for effective communication in families. Give examples to describe each guideline.

  • Q : Social issues & person statuses Think

    Think of person you will who often irritates you or whose behaviour greats on your nerves. First list that person statuses and role then analysed his or her possible role expectations, role performance, role conflict and role strai

  • Q : Evaluating the cost of intangible asset

    How to evaluate the cost of intangible asset?