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WORLDWIDE BANKING AND CREDIT

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Investment Banking firms are located in our
Commercial Corner.

Issues related to tax avoidance Offshore Banking and Business are located in our Foreign Investing section.

National and International Banking Organizations

Directories of Banks and Financial Institutions

U. S. Government and Federal Reserve Banks

Banking Holidays

Go to Int'l. Securities Market Assn. (ISMA) for an international bank holiday calendar.

If you are looking for a global calendar of banking/national holidays see if J. P. Morgan still publishes their pocket size World Holiday and Time Guide, which, in its usefulness, rivals large reference works. The J.P. Morgan site used to offer a searchable on-line version. Write to "World Holiday and Time Guide", J. P. Morgan, 60 Wall Street, 45th Floor, New York, NY 10260-0060.

J. P. Morgan gave this summary of weekly and annual holidays.

Sunday is a holiday, with banks closed, in most countries. The countries where Sunday is not a holiday include Afghanistan, Algeria, Bahrain, Bangladesh, Djibouti, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Libya, some states in Malaysia, Maldives, Mauritania, Nepal, Oman, Pakistan, Qatar, Saudi Arabia, Somali Democratic Republic, Sudan, Syria, United Aram Emirates, and Republic of Yemen. In most of these countries, banks are normally open on Saturday and Sunday and closed on Friday; in Israel and Nepal, banks are open on Friday and Sunday and closed on Saturday. In countries where Islam is practiced by a large part of the population, banking hours and other business hours may differ during Ramadan, the ninth month of the Islamic lunar year.

Although there are several holidays observed by all the states in the United States, each state Legislature determines the official holidays and dates of observance for its own state. It is important to consult the state listings for complete information about holidays in individual states. The U. S. Congress determines holidays only for the District of Columbia (Washington, D. C.) and for offices of the federal government throughout the country.

Cyberspace Banks, E-Cash Providers & Related Institutions

Below are some companies active in developing the new monetary technologies. The area is so new that we cannot comment how good or bad any of these new types of cash are. Some of these new companies act like a bank but you are not protected by banking laws. State governments and the federal government are scrambling to figure out how they should be treated, legally. In addition, a number of companies are offering traditional merchant accounts with an online processing option. Some of them also offer checks by phone, fax, web or email. In addition, we are seeing some escrow services offered for Internet business, similar to a traditional bank's Letter of Credit. However, some escrow companies have been out and out frauds while others, while well-meaning, have gone belly-up. Ebay has successfully used Escrow.com. Check out the Ebay Website to see who they currently recommend.