Robinson said the huge profits to be made in off-shore banking
are enough to convince bankers to look the other way when potentially illegally-obtained cash is deposited in their banks.
The move to formalise the market represents a shift in government policy, which had until recently been favouring the development of off-shore banking
Occupied by the Germans during World War II, it now thrives on off-shore banking
Much of the cash ends up in the British dependencies in the Caribbean where off-shore banking
has become second only to tourism as an international earner.
This new research attempts to incorporate not only traditional statistics, such as bank loans, but also the estimated "credit equivalent" amounts of the many new off-balance-sheet activities, estimates of certain off-shore banking
operations, and other adjustments to the data that attempt to account for the effects of technological change and globalization.
While the comparatively high level of financial dollarization and heavy state participation in the banking system persist as credit challenges, Costa Rica's improved financial supervision and the elimination of the off-shore banking
system have reduced banking sector's vulnerabilities.
The bank has the strength and the diversity of resources to offer its customers a range of financial solutions; such as Corporate Banking, Personal Banking, Islamic Banking, Investment Banking, Off-shore Banking
, Development Banking, International and Treasury operations and Trade Financing services, through its widely spread network of 618 branches covering all parts of the country.
It will operate as a financial free zone, offering full off-shore banking
and wealth management services.
Investment houses in Bahrain's off-shore banking
sector have been trying to recapitalise themselves.
An off-shore banking
veteran with 15 years experience and a long time CEO of Jyske Bank's Switzerland operations, Mose brings the needed experience and expertise to take the bank to the next stage in its continued growth.
The Latest on UBS and Off-Shore Banking
," will occur on Friday, Oct.
Investments will be made throughout the Off-Shore Banking