Receiving Bank

Receiving Bank

A bank that collects an electronic transfer from another bank. It is also called a receiving depository financial institution.
References in periodicals archive ?
Announced at the Annual Investment Forum (AIM) that opened today in Dubai, this subscription structure has been achieved with the support of CAPM Investment a subsidiary of Finance House, the financial advisor and lead manager of Marka s initial public offering, and National Bank of Abu Dhabi (NBAD), the lead receiving bank.
Mashreqbank is acting as lead receiving bank, and the National Bank of Abu Dhabi and Abu Dhabi Commercial Bank are acting as receiving banks.
World Bank has said that it planned to publish the names of all companies it bars from receiving Bank contracts, and named three Indian firms.
Before USE, the sending bank had to communicate to the receiving bank, via costly registered mail, the authenticator key.
MANAMA: NBB has been mandated as both the issue manager as well as the sole receiving bank for the on-going rights issue of Esterad Investment Company.
Back office services will be offered on a white labeling basis and thus will be completely transparent to the ordering bank and the receiving bank.
The regional lead manager for the issue is Gulf International Bank (GIB) and the lead receiving bank and escrow agent is Standard Chartered Bank.
Ali Shareef Al Emadi, Group Chief Executive Officer of QNB, the Lead Receiving Bank of the IPO commented: "The nine banks selected have met our criteria for operating as receiving banks.
Those with CRA evaluations of "Needs to Improve" or "Substantial Non-Compliance" will not be restricted from receiving Bank System advances as long as these members submit a one-year Community Support Action Plan with measurable goals.
Subscriptions were successfully made through all available banking channels, including both receiving bank branches and electronic channels.
Following the completion of its Rights Issue, Arabtec Holding has announced that National Bank of Abu Dhabi, the main receiving bank, has issued the allotment letters, and refunded excess funds with interest to subscribed shareholders on July 14th 2013, directly to their postal addresses as registered at the Dubai Financial Market.
National Bank of Kuwait (NBK) will act as receiving bank for the issue.