Introduction In international trade, a Letter of Credit (LC) is a vital financial instrument used to mitigate risks associated with cross-border transactions. It acts as […]
Tag: trade finance
9. What is a letter of Credit ? Discuss the merits and demerits of letters of credit.
Introduction to Letter of Credit A Letter of Credit (LC) is a document issued by a bank, guaranteeing that a buyer’s payment to a seller […]
5. Explain the importance of banking business in the development of a country.
Introduction Banking is the backbone of any country’s economic and financial system. A well-regulated banking system is crucial for capital formation, credit mobilization, poverty reduction, […]