BY Oluseyi Awojulugbe
Polaris Bank has hosted officials of UK’s Bank of Beirut over offshore banking.
The deposit of funds by a company or an individual outside their country of residence is known as offshore banking.
Offshore banks offer the same services as domestic banking however, the funds are often tax exempt.
Polaris Bank took over the assets and liability of the now-defunct Skye Bank in 2018.
See photo below:
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