Hong Kong today stays probably the greatest offshore banking jurisdictions. Unlike most other regulated industries, the regulator is often also a participant available in the market, being both a publicly or privately ruled central bank Central banks also usually have a monopoly on the business of issuing banknotes Nonetheless, in some international locations this is not the case. In the UK, for example, the Monetary Services Authority licenses banks, and a few industrial banks (such because the Financial institution of Scotland ) challenge their very own banknotes in addition to those issued by the Bank of England , the UK authorities’s central financial institution. Finance is a department of economics…