Questions to ask a banker before investing
A private bank, managing other people's assets rarely takes a large commission. Often we are talking about 1-2% per annum of the size of the assets. The proposal looks tempting,…

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How to choose a bank to place a deposit?
For more than a year, as the population is gradually returning its savings to the banking system, it is on deposits. Therefore, the question of how to choose the right…

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Theoretical aspects of cash and settlement services for individuals and legal entities
The banking system is a combination of credit institutions and various types of national banks operating through a monetary mechanism. Commercial banks are banks, service organizations, as well as their…

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Dubai Bank Services
If you are doing business in the United Arab Emirates or have registered an offshore company in the UAE free zone, then it goes without saying that you will want…

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educating children

Know your customer: this is why banks WILL ask you awkward questions

Banks are fined hundreds of millions of dollars for insufficient customer verification. This is exactly what happened with the largest bank in Pakistan, which received a $ 225 million fine and is now forced to close a branch in New York.
In early September, Habib Bank, which is the largest in Pakistan, was sentenced in New York. According to the Department of Financial Services, the bank did not conduct sufficient customer audits that are required by New York law. The bank was fined $ 225 million for not combating money laundering and financing terrorism, for ignorance in an adequate form of reporting, and they demanded to close the branch in the city. Continue reading

How can a non-resident open an account in Europe without visiting a bank?

Today, a foreign bank account in a country with a reliable and well-organized banking system is an indispensable tool for both private and corporate individuals. Problems in the banking sector and crises in the home country, the risk of loss of assets due to criminal or legal prosecution, currency depreciation – these and other reasons make many people think about withdrawing money to a safer place.
The banking system of many European countries is well developed, reliable and well organized. Continue reading

Questions about offshore banking and offshore banking
Offshore banks and offshore banking raise many questions: what is offshore banking and how are offshore banks different from normal? What are the advantages of an offshore bank and what…

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