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International banking is the process in which financial institutions render their services to foreign clients. International banking involves the transactions relating to the acceptance of deposits and loans anywhere in a currency other than that of the country in which the bank is located. The global banking system is a network of interconnected nodes each depicting a specific location.
The most talked-about international banks are located in Switzerland. Many other countries have fully developed international banking infrastructures. Many individuals and companies participate in international banking to minimize (or evade) their tax liability. This strategy has certain disadvantages. In addition, several international organizations have made recent efforts to curb the use of international banks as tax havens.
