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From The Glossary »

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Offshore banking:

Offshore banking is somewhat different to offshore investing. Investing has to do with saving your money in a particular investment product with the purpose of growth and eventually good returns. Offshore banking, on the other hand, is a facility that offers access to overseas financial and banking services. It enables one to make purchases or payments anywhere in the world, offering an option of currencies such as pounds sterling, US dollar and ...
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