Offshore Banking Unit - Definition - Law Dictionary Home Dictionary Definition offshore-banking-unit

Definition :

Offshore 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. 91) of s. 23 of the Banking Regulation Act, 1949 (10 of 1949) [Special Economic Zones Act, 2005 ( 28 of 2005) s. 2(u)]