Question : Which of the following organizations is responsible for setting international standards for banking and financial transactions, including foreign exchange operations?
Option 1: World Trade Organization (WTO)
Option 2: International Monetary Fund (IMF)
Option 3: Bank for International Settlements (BIS)
Option 4: World Bank
Correct Answer: Bank for International Settlements (BIS)
Solution : The correct option is c) Bank for International Settlements (BIS)
The Bank for International Settlements (BIS) is responsible for setting international standards for banking and financial transactions, including foreign exchange operations. The BIS is an international financial institution that serves as a bank for central banks. It provides a platform for central banks to exchange information, collaborate on monetary and financial matters, and promote monetary and financial stability worldwide. The BIS plays a key role in developing and promoting best practices in the banking and financial industry, including the regulation and supervision of foreign exchange operations. The World Trade Organization (WTO) focuses on international trade policies, the International Monetary Fund (IMF) deals with global monetary cooperation and financial stability, and the World Bank primarily supports development projects and provides financial assistance to countries.
Related Questions
Trending Articles/News
