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Financial Terms

KYC

It helps in preventing fraud and financial crimes such as money laundering. The process involves collecting information about a customer's identity, occupation, and source of income.

KYC, or "Know Your Customer," is a crucial concept in the world of finance. It enables institutions to ensure the legitimacy of their customers and prevent potential financial crimes. By collecting details like identity, occupation, and source of income, KYC helps institutions stay vigilant and protect against fraud and money laundering. In other words, it's a necessary step towards maintaining the integrity and security of the financial industry.

Anti-money Laundering

Anti-money laundering (AML) entails transforming illicit funds into legitimate assets through the establishment of valid documentation, thus constituting a financial offense. ...

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Nominee

This individual is authorized to act on behalf of the investor in case of any unforeseeable circumstances such as death or incapacitation. A Nominee refers to an individual ...

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Capital Expenditure

Capital expenditures, or CapEx, refer to the funds allocated by a business or Government for the purchase, improvement, or maintenance of assets in order to enhance the orga...

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Central Bank

Allow me to introduce you to the concept of a national bank - a financial institution that plays a vital role in providing services for the government and commercial banking...

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