ABOUT INTERNATIONAL BANKING
International Banking is just like any other banking service that takes place across different nations or internationally. In other words, international banking is an arrangement of financial services by a residential bank of one country to residents of another country. The facility of International Banking provides much flexibility to MNCs to deal in multiple currencies. The currencies that MNCs deal with include euro, dollar, rupee, sterling and pounds. International Banking provides much accessibility and ease of doing business to companies from different countries.
International banking allows businesses in making international bill payments. Currency conversion allows companies to pay and receive money easily. Various benefits are provided such as overdraft facility, deposits, loans, etc. for overseas transactions. An MNC can maintain records of global accounts with the help of international banking. Globalization and growing economies of the world have led to development of international banking facility. With advancements in technology, banking facilities have grown vastly. To maintain growth of businesses, they need financial services of international banking. Thus, the demand of international banking facilities is widely increasing.
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