Currency operations of commercial banks and their role in economic development
In the conditions of transition of the economy to market relations and the development of the banking system, the development and improvement of currency operations of commercial banks is of…

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World banking systems
In world practice there are the following banking systems: 1) two-level: 1st level - Central Bank, 2nd level - commercial banks; 2) a decentralized banking system of the United States…

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reconsideration

Good reason to open a foreign bank account

The litigation that is currently unfolding between the Federal Tax Service and Sberbank may be a significant precedent that will affect the entire banking sector in Russia. The FTS accuses Sberbank of dishonest behavior, which is expressed in the fact that the bank refused to perform the functions of the tax authorities and write off funds in paying taxes from the client’s account.
The decision of the court is now closely watched by many account holders in Russian banks. If the court takes the side of the FTS, it may mean that in the near future the requirement to write off taxes from the accounts will be mandatory for all banks. This means that accounts in Russian banks will become an even less secure and confidential way of storing funds. Continue reading

Offshore World Bank Almanac - Canada
Canada is not a traditional offshore jurisdiction. Taxes in Canada are higher than in the US, and you are unlikely to open an account in Canada remotely without special knowledge…

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