Offshore finance subsidiary

(redirected from Offshore Banking Unit)
Also found in: Acronyms.

Offshore finance subsidiary

A wholly owned affiliate incorporated overseas, usually in a tax haven country, whose function is to issue securities abroad for use in either the parent's domestic or foreign business.

Offshore Finance Subsidiary

A wholly-owned subsidiary that exists in a foreign country, especially a tax haven. An offshore finance subsidiary issues stocks and bonds on behalf of the parent company outside the jurisdiction of the home country. The issues will therefore be subject to fewer regulations and perhaps also less scrutiny.
References in periodicals archive ?
On the negative side, assets of offshore banking units (OBUs) in Bahrain fell to $53.
KYC covered entities: Universal, commercial, thrift, rural, and cooperative banks; offshore banking units and quasi banks; pawn shops and dealers in precious metals and stones; insurance, reinsurance, and pre-need companies, agents, and brokers; mutual benefit associations and holding companies controlling any authorized insurer; trust funds/entities; securities broker/dealers, sales representatives, consultants, and managers; investment houses and mutual funds; foreign exchange dealers, money changers, remittance/transfer agents, and electronic money issuers; entities dealing in currency, financial derivatives, cash substitutes, and similar monetary instruments; and lawyers and accountants
Revenue of ICICI Bank from foreign operations including foreign branches and offshore banking units in India increased to US$986mn during fiscal year 2013-14, from US$784mn recorded in the previous year.
The bank's operations include deposits, loans, guarantees, foreign exchange, offshore banking units (OBU), trusts, credit cards, cash cards, securities, bonds, futures, derivative financial products, factoring, safe deposit boxes, electronic banking services, and the national lottery.
More than 100 offshore banking units and representative offices are located in Bahrain, besides numerous American firms.
72 billion) was generated by offshore banking units (OBUs) and NT$18.
The Central Bank has been authorised since August 1997 to issue licences for offshore banking units (OBUs).
In August, Taiwan relaxed its regulations to allow major local banks to operate direct cross-strait transactions that are channeled through offshore banking units.
Taiwan's Financial Supervisory Commission said that the total revenue for Taiwanese banks' offshore banking units exceeded US $4.
The lending of offshore banking units (OBUs) operating in Taiwan reached a record high of USD81.
In addition, the Central Bank exercises regulatory supervision over four offshore banking units and requires them to meet reporting provisions and other banking rules and regulations.
6, 1997, Shaikh Jassim issued a decree for the Central Bank to issue licences for offshore banking units (OBUs).