Off Shore Banking Unit - Definition - Law Dictionary Home Dictionary Definition off-shore-banking-unit

Definition :

Off Shore Banking Unit, means a branch of a bank located in a Special Economic Zone and which has obtained the permission under clause (a) of sub-s. (1) of s. 23 of the Banking Regulation Act, 1949 (10 of 1949); The Special Economic Zones Act, 2005, s. 2(u)