Receiving Bank

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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 ?
A New York were appointed the receiving banks of the proceeds of the Eurobond during the initial issuance.
While Qatar National Bank (QNB) has been mandated as the lead receiving bank, Kaabi said, the distribution and collection of all IPO application forms can also be processed through nine other receiving banks like Qatar International Islamic Bank (QIIB), Masraf Al Rayan, Commercial Bank, Al Ahli Bank, Doha Bank, Qatar Islamic Bank (QIB), Barwa Bank, Arab Bank and Al Khalij Commercial Bank.
The legal department of the Central Bank of Egypt (CBE) is receiving banks' proposals to amend Banking Law No.
Those investors who completed their applications for shares will be immediately refunded through the lead receiving banks, the company added.
National Bank of Abu Dhabi is acting as sole lead manager and lead receiving bank. Abu Dhabi Islamic Bank, Dubai Islamic Bank, First Gulf Bank, and Union National Bank are acting as receiving banks in connection with the offer.
A circular issued by India s Central Board of Excise and Customs maintains that the commission that overseas exchange houses pay to receiving banks in India (such as State Bank of India or ICICI, etc.) is liable to attract service tax in that nation.
GIB Capital and HSBC are acting as financial advisers and bookrunners with Samba Financial Group, NCB itself, Riyad Bank, Arab National Bank, Saudi Hollandi Bank, the Saudi Investment Bank, Banque Saudi Fransi and Saudi British Bank acting as receiving banks.
Al khaliji, one of the lead receiving banks for the Mesaieed Petrochemical Holding Company (MPHC) initial pubic offer, has extended 100% financing at 3.5%.
Saudi Fransi Capital confirmed that the receiving banks had received subscription applications for in excess of 632 million shares by the close of the rights issue offer period, representing demand of SR6.3 ($1.69bn) billion and covering some 105.42% of the rights issue.
The list of receiving banks is Banque Saudi Fransi, Al-Rajhi Bank, Alinma Bank, Bank AlBilad, The National Commercial Bank, Samba Financial Group, Saudi Hollandi Bank, Arab National Bank, Bank Aljazira, Riyad Bank, SABB and The Saudi Investment Bank.
The list of receiving banks include Banque Saudi Fransi, Al Rajhi Bank, Alinma Bank, Bank AlBilad, The National Commercial Bank, Samba Financial Group, Saudi Hollandi Bank, Arab National Bank, Bank Aljazira, Riyad Bank, SABB and The Saudi Investment Bank.- TradeArabia News Service
Standard Chartered Bank and Equity Bank (NBO:EQTY) will serve as the receiving banks, according to the document.