Question

3. What are the foreign accounts?
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Answer 1

Answer:

Foreign Currency Account (FCA) is a transactional account denominated in a currency other than the home currency and can be maintained by a bank in the home country (onshore) or a bank in another country (offshore). Foreign currency accounts are generally not covered by national deposit insurance schemes.

Answer 2

It is transactional account denominated in a currency other than home currency and can be maintained by a bank in a home country or a bank in another country...

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