Failure to carry out the terms of a contract, especially failure to pay back a debt:

The government bank which regulates all commercial banks in a country is called …………….:

Computerized banking is………:

All the ……………..you make on your account are recorded so that you can check the details at any time:

The exporter sends the goods and documents to the foreign buyer. The buyer pays the invoice when the goods arrive, or within a certain period from the invoice date. This can be risky,as the exporter trusts the buyer to honour the original sales contract:

A foreign bank issues an undertaking to the exporter ( through a bank in the exporter’s country) to pay for the goods as long as the exporter complies with the terms and conditions of the contract. This is a much safer form of payment for the exporter. To be even safer, the exporter can arrange for the bank in his/her country to act as “ confirming bank”, which means that the bank in the exporter’s country is responsible for the transaction:

Money received; in accounting, an entry made on the right side of an account:

The exporter does not dispatch the goods until payment has been received from the importer. There is no risk for the exporter – all the risk is taken by the importer:

The financial institution is as an intermediary since………..:

Income a bank derives from loans and investment securities:

The central bank is ………….to the commercial banks which are meeting the liquidity problem:

An organized market for the issue of new securities and the exchange of secondhand ones:

A small book that records a depositor’s deposits, withdrawals and interest payments by the bank:

A customer can deposit and withdraw the money in a ----------------- at any time without waiting for a period of time:

To pay interest on a debt and also repay the principal at due date:

The money needed to start a company is called……………………………….:

Money given to developing countries by richer ones is known as ……………:

It may seem a long way into the future but in the end you will get some----------- from your investment:

When the government doesn’t control the exchange rate in any way, the currency is ……………….. :

Money paid by the government or a company to a retired person is a …………….:

What role does the board of directors of a bank play?