All foreign financial institutions and offshore banking units
follow the same regulations as domestic financial entities.
After already postponing the changes twice, reforms to Australia's Offshore Banking Unit
(OBU) regime will finally become effective on July 1, 2015.
Any cost or expense related to or incurred in the operation of the foreign currency deposit unit (FCDU)/expanded FCDU (EFCDU) or offshore banking unit
(OBU) is not allowed as deduction from the RBU's taxable income.
Maybank Investment Bank Berhad, the Hongkong and Shanghai Banking Corporation Limited Offshore Banking Unit
Labuan and Nomura were Joint Lead Managers and Bookrunners for the Transaction.
The bank currently has three branches and an Offshore Banking Unit
An Offshore Banking Unit
(OBU) has to be more than a brass plate in Bahrain, with the BMA demanding financial accounting, active operations and staffing, and that the OBU is a branch of an overseas parent bank.
NBAD has been operating in the Kingdom of Bahrain since 1977 while it started its Offshore Banking Unit
in the country.
Mega's offshore banking unit
(OBU) is ready to float RMB-based bonds to help Taiwanese enterprises in China raise operating funds.
These include the Bahrain Islamic Bank, which is licensed by the Bahrain Monetary Agency (BMA) as a specialised financial institution; an offshore banking unit
(OBU), Faisal Islamic Bank of Bahrain (FIBB); five investment banks, the ABC Islamic Fund, Albaraka Islamic Investment Bank (AIIB), Arab Islamic Bank, Bahrain Islamic Investment Company and the Islamic Investment Company of the Gulf (IICG) which is the flagship company of the Geneva-based Dar Al Maal Al Islami (DMI) Group; and two investment funds, Al Ameen Securities Company and Al Tawfeek Company for Investment Funds, both subsidiaries of the Jeddah-based Albaraka Group.
Lin, chief financial officer of Taishin Financial, says that Taishin Bank extend securitized loans mainly to local enterprises in China, with deposits in state-run banks as Bank of China and Bank of Communications, which use letter of credit (L/C) issued by such Chinese banks to apply for loans from offshore banking unit
(OBU) of Taishin Bank or its branch in Hong Kong, which also offer cross-border trade financing to overseas subsidiaries of importers in China that negotiate such loans with L/C issued by Chinese banks as security.
A deposit insurance scheme, an offshore banking unit
, greater monitoring of large institutions are all on the cards.
Besides, stocks & securities firms may be allowed to set up for example offshore banking unit
(OBU) as is done by domestic banks.