CORRESPONDENT BANK Definition

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CORRESPONDENT BANK is a bank having communications and business links with the sellers bank.

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LEASEHOLD is an agreement between the lessee and lessor specifying the lessees rights to use the leased property for a specific purpose and given time at a specified rental payment.

COLLECTIVE INVESTMENT SCHEME, globally, is any arrangement for pooling several investors funds so that the pooled fund can obtain economies of scale and a spread of investments beyond the reach of individual investors. It is usually called an investment company in the U.S.A.

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