Question 1:
The Banking Act provides for banking services through interactive electronic systems.
(a) Describe the features of electronic banking.
(b) Show the responsibilities of commercial bank in the furtherance of e-banking.
Question 2:
Escrow dealings reduce the potential risk of fraud by acting as a trusted third party that gathers, holds and pays out money according to Buyer and Seller directions.
(a) Explain briefly the mechanism of escrow dealings and how the system operates to reduce fraud.
(b) Explain the obligations and duties of the escrow agent.