New York City, London, and Tokyo are examples of on-shore financial centers because of their fiscal transparency and strict tax policies.
What is the meaning of financial center?
A financial hub, often referred to as a financial center by the International Monetary Fund (IMF), is a city or region that serves as the headquarters for numerous different financial services organizations. With the use of the metaphorical term "hub," the financial services sector is compared to a wheel with a hub and spokes.
Which city is the financial centre of the world?
With the NASDAQ and the New York Stock Exchange, the two biggest stock exchanges in the world, New York is once again in the lead. London comes in second, bruised but unfazed by the aftershocks of Brexit. In the most recent rankings, Shanghai passed Tokyo to take third place worldwide.
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A fee paid by a borrower to the lender for the use of borrowed money; typically interest is calculated as a percentage of the principal (original loan amount). A debt evidenced by a "note," which specifies the principal amount, interest rate and date of repayment.
Answer:
B) C and D
- C. Whole life insurance
- D. Annuities
Explanation:
Anti-Money Laundering (AML) regulations identified the following insurance products as covered products:
- Permanent life insurance policy, other than a group and term life insurance policy
- An annuity contract, other than a group annuity contract
- Any other insurance product with features of cash value or investment.
The AML's main goal is detect and stop terrorist financing.
