Glossary

This section provides a glossary of all terms and abbreviations used in the user manual.

Bank

Performs lending activities can be either directly or indirectly through the capital markets.

BBAN

Basic Bank Account Number

Branch

A branch/banking centre/financial centre is a retail location where a bank/credit union/other financial institution (including a brokerage firm) offers a wide array of face-to-face and automated services to its customers.

Customer

The individuals and corporations who buy the bank’s products and services.

DDA

Demand Deposit Accounts

EAC

External Account Check

ECA

External Credit Approval

IBAN

International Bank Account Number

Interest Calculation

Is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited or borrowed.