A country whose banking system is organized to permit external accounts beyond the normal economic activity of the country is called:

Question

Quizplus · Accepted Answer

Offshore banking centers are countries that have banking systems that allow for the opening of external accounts, which can facilitate international transactions and investments beyond the domestic economic activity of the country. Onshore banking centers are countries where the banking system is primarily focused on domestic economic activity. Representative country and full-service country are not commonly used terms to describe banking systems.

A Country Whose Banking System Is Organized to Permit External