Issuing bank

(redirected from Opening Banks)

Issuing bank

Bank that issues 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.
References in periodicals archive ?
The apex bank is said to have sought information on six issues related to the tax compliance of the 25 groups that have expressed interest in opening banks in the nation.
He said China's opening banks in Turkey would bring a momentum to the relations.
Those resources include a soup-to-nuts program for opening banks with a 100% completion ratio that is the foundation for Bankmark's success.