Concentration Banking Allows the Banks to Use the Local Collection

question 25

True/False

Concentration banking allows the banks to use the local collection system to clear the customers' cheques.

---

Definitions:

Foreign Employees

Workers who are employed in a country where they are not citizens.

NGOs

Non-Governmental Organizations, which are nonprofit entities operating independently of any government, typically focused on addressing social, environmental, or political issues.

Business Conduct

The standard of behavior and ethical principles guiding the operations and individuals within a business organization.

Official Authority

The legal and formal right granted to a person or entity to make decisions and enforce those decisions within an organization or community.