Offshore Banking is defines as the banking associated with the banks located outside the country or we can say abroad. These types of banks offer greater privacy, no taxation, easy access to deposits and protection against financial stability.
It is generally associated with high degree of financial sophistication. But this is not true, any individual can get their account opened in Offshore Banks with normal formalities quite similar to saving bank account.
Advantages of offshore Banking
Wholesale Banking is defined as the stipulation of services by the banks to various organization including Corporates, Mortgage Brokers, Real Estate Developers, International Trade Finance Businesses, Government agencies and so on.
Also, wholesale banking provides the services between merchant banks and financial institutions. It provides services to large corporations
Wholesale Finance means the financial services conducted between financial services companies and institutions such as fund managers, banks, insurers, and stockbrokers
Functions of Wholesale Banks
Generally, Wholesale banks are engaged in performing various activities that are as follows: