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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.

Add-on Method

The concept of precomputing interest on a loan involves calculating the interest that will be accrued in advance and adding it to the principal balance. It is important to men...

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Harmless Warrants

Harmless Warrants, a bond provision, provides bondholders with the option to relinquish their bond, on the condition that the borrower must acquire another bond with identic...

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Foreign Currency Convertible Bonds (FCCB)

These bonds provide the bondholder the option to convert the bond into equity shares at a predetermined price. A Foreign Currency Convertible Bond (FCCB) is a unique financ...

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Department of Economic Affairs

The DEA, a crucial government agency, plays a crucial role in formulating and overseeing economic policies and programs to effectively manage the overall economy. With a deep...

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