Definition of correspondent banking Correspondent banking is a cooperation between two banks, where one (the correspondent) helps another (the respondent), which does not have branches abroad, to make international payments and currency transactions. This involves opening correspondent accounts with partner banks, which allows customers to make transfers almost as easily as within their own country. What is an intermediary bank? This is an intermediary bank that acts as a “br

Fast and reliable payments are crucial for the financial system. To understand the movement of funds between different banks, it is important to understand the concepts of clearing and settlement. Let's not waste any time, and Icon.Partners will explain in more detail! Understanding Clearing and Settlement What does “clearing” mean in payments? Let's answer the question “what does clearing mean”. In payments, clearing is the stage between making a payment and completing it.

Comfort Letter Explained Definition and meaning of a comfort letter If you are planning a major transaction, investment, or international deal, you may have come across the term “comfort letter”. But what is a bank comfort letter, and why do financial institutions and corporations rely on it so often? A comfort letter is an official written statement usually issued by an auditor, parent company, or bank that provides assurance about a company’s financial standing or credibili

The modern banking system has many branches. Some banks focus on everyday clients, while others serve large companies that move millions every day. By exploring retail vs corporate banking, it becomes clear how financial institutions separate services for individual customers and for companies. What Is Retail Banking? Define retail banking When we define retail banking, we mean the part of the financial sector that serves individual customers, rather than businesses. Retail

Company expansion, market entry, privatization, and development can bring certain challenges in addition to advantages. Sometimes governments and companies do not want to give ordinary shareholders leverage, and that is when golden shares come into play. A golden share is a special type of share that grants its holder extraordinary rights – such as veto power – that exceed those normally associated with share ownership. Today, Icon.Partners will reveal the answer to the que