During the documentary credit, which of the following, banks is usually a foreign bank…?

Banking law in Bahrain

A consequential loss is an

UNICITRAL Model Law- provides for consequential loss in credit transfers only if the bank acted with specific intent to cause loss or recklessly and with actual knowledge that loss would be a likely result. This statement is

Basel Committee on Banking Supervision and FATF have recommended certain guidelines  :  Bank  must know its correspondents and their procedures .These guidelines rules are  

 Money laundering incorrespondent banking is a valid concern of regulators since banks do notnecessarily have first hand knowledge of the controllers or customers of itscorrespondents. Thisstatement is

If the error can be placed on the correspondent bank, then the customer’s bank will be liable. This statement is

Limited  liability of customer’s bank is subject to  contract and banks further protect themselves with

Relationships with correspondent banks are usually governed by

In recent times correspondent banking has been under scrutiny by authorities looking for

Nostro a/c is an account that one bank holds with another bank in ……….        usually in the currency of that country

Correspondent banks provide a wide variety of services such as

Multifunctional banks are using correspondent banks so that it can offer its full range of services to its clients around the world. This statement is

Privity of Contract means that a

From an economic perspective, the network concept provides the following: 

Bank Syndicate or Bank Consortium is 

True Syndicate means

The severalty clause will provide that the rights and obligations of the members of the syndicate are several such as  

 Syndicated Loan Agreement for

Subscription Agreement

Does a syndicate constitute a joint venture?

 Does a syndicate constitute a partnership between the banks?

If lead bank has acted only as a conduit pipe from borrower to syndicate members, there is

If lead bank was intimately involved in preparation of Information Memorandum

Regarding correspondent banking regulation in Bahrain its regulated 

Multifunctional bank basically means a bank with variousservices other than the simple deposit taking and credit granting. Volumes 1and 2 cover  its regulations in :

Insider trading its regulated in

Securities law  in Bahrain - its part of

Anti-trust law in Bahrain regulated in

MAM  in CBB Rules refer to prohibition of market abuse and manipulation .This statement is :