1, know your customer principle.
Knowing the customer principle is the primary requirement of foreign exchange business of banks, and it is also the basis for banks to implement the three principles of exhibition industry. This principle requires banks to know the identity, background, business needs and risk tolerance of customers when conducting foreign exchange business, so as to better evaluate their risk status and compliance.
2. Understand business principles
Understanding business principles is the second requirement of bank's foreign exchange business. This principle requires banks to understand the risk, compliance and regulatory requirements of foreign exchange business in order to better evaluate their risk status and compliance. At the same time, banks also need to manage and control business risks to ensure that the services they provide comply with national laws, regulations and regulatory requirements.
3. The principle of due diligence
The principle of due diligence is the third requirement of foreign exchange business of banks. This principle requires banks to conduct due diligence on customers' identity, background, business requirements, risk tolerance and other information when conducting foreign exchange business, so as to better evaluate their risk status and compliance.
Importance of foreign exchange business of banks
1, to meet the needs of international trade
Bank foreign exchange business is an important means to meet the needs of international trade. With the continuous development of globalization, trade between countries is becoming more and more frequent, and foreign exchange business is the basis of international trade. Through the bank's foreign exchange business, enterprises can easily carry out import and export settlement, foreign exchange and other businesses to meet the needs of international trade and promote the development of the national economy.
2. Maintaining the international financial order
The bank's foreign exchange business is also of great significance for maintaining the international financial order. The foreign exchange market is one of the largest financial markets in the world, and its fluctuation will have a great impact on the international financial market. As the main participants in the foreign exchange market, banks can hedge foreign exchange risks, stabilize exchange rate fluctuations and maintain the international financial order through foreign exchange transactions and risk management.
3. Promote the development of financial innovation.
The development of foreign exchange business of banks has also promoted financial innovation and development. Foreign exchange business involves currency exchange, exchange rate risk management and other aspects, and requires professional financial knowledge and skills. By developing foreign exchange business, banks can cultivate a group of financial talents with professional knowledge and skills and promote financial innovation and development.