Opening Bank

Opening Bank

A bank which establishes a letter of credit.

Issuing Bank

A bank that writes a letter of credit, especially on behalf of an exporter. The issuing bank operates in the country of the importer, and facilitates trade between the importer and exporter by providing credit for the transaction. It is also called an opening bank.
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References in periodicals archive ?
An electronic referencing system is being formulated by the Central Bank of Nigeria (CBN), which is designed to speed up the process of opening bank accounts in Nigeria.
ILLEGAL immigrants will be blocked from opening bank accounts in Britain as part of a tough overhaul of immigration laws.
2011 has advised banks to accept the dhar letter issued by Unique Identification Authority of India (UIDAI) as an officially valid document for opening bank accounts without any limitations applicable to small accounts.
In Wales, those taking part in the survey were asked to explain their aversion to opening bank statements.
Brent Baldwin: Opening bank accounts by itself won't resolve the issue.
They were also taught about opening bank accounts, understanding tax and interest, paying bills, rent and mortgages, setting up a pension as well as how to avoid getting into debt.
Flintshire CAB Money Matters project is helping clients with money issues including reclaiming bank charges, opening bank accounts, changing fuel suppliers, and offering training on money issues including budgeting to community groups.
New Haven, Connecticut has granted residents municipal ID cards, making it easier for undocumented immigrants who don't have identification to run ordinary errands like opening bank accounts.
One in 10 people even tries to hide their financial situation from themselves by not opening bank statements or credit card bills.
YOUNGSTERS are to be given lessons in opening bank accounts and buying a house, the Government will announce this week.
North Korea is likely to harden its attitude now that the United States has rejected all of its proposals apparently aimed at widening contacts between the two countries, including opening bank accounts with U.
The 27-year-old celebrated his first start at the national stadium in the opening Bank of Scotland Corporate Autumn Test against Argentina.