International Banking Order, 2000 · As enacted
7. Categories of licences and fees
Official textFrom Attorney General's Chambers, unchanged
( 1}
A licence shall be one of the following four types
{a)
a full international license for the purpose of carrying on international banking business generally;
banking business
"banking business", in relation to an institution, includes the taking of deposits from the public in the form of current or savings accounts and the granting of credits, and without limitation includes the issue of credit cards, money collections and transmissions, foreign exchange transactions, the issue of guarantees, trade finance, development finance and sectoral credits, consumer credit, investment banking and Islamic banking business, broking and risk management services whether such business is in any case conducted by conventional practices or using Internet or other electronic technology and includes electronic banking; 1043 29th. JUNE, 2000
Terms defined in s 2
banking business
Defined · s 2"banking business", in relation to an institution, includes the taking of deposits from the public in the form of current or savings accounts and the granting of credits, and without limitation includes the issue of credit cards, money collections and transmissions, foreign exchange transactions, the issue of guarantees, trade finance, development finance and sectoral credits, consumer credit, investment banking and Islamic banking business, broking and risk management services whether such business is in any case conducted by conventional practices or using Internet or other electronic technology and includes electronic banking; 1043 29th. JUNE, 2000