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    Question

    Which of the following centers serve clients from all over the world in the provision of the widest range of financial services?

    A Traditional financial centers Correct Answer Incorrect Answer
    B Regional financial centers Correct Answer Incorrect Answer
    C Non-global and non-regional international FCs Correct Answer Incorrect Answer
    D Offshore financial centers Correct Answer Incorrect Answer
    E Niche financial centers Correct Answer Incorrect Answer

    Solution

    Traditional or Global financial centers: Traditional financial centers are the most well-known and established centers, such as New York and London. They are the largest and most influential financial centers, with a long history of financial activities and a highly developed infrastructure. These centers are home to the world's largest banks, investment firms, and stock exchanges. These are centres that genuinely serve clients from all over the world in the provision of the widest range of financial services, including asset management, investment banking, insurance, and trading. As such, they are mostly referred to as the Global Financial Centres (GFCs) in true sense.

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