Issuing bank(redirected from Opening Banks)
Bank that issues a letter of credit.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved