The role of Associate Banks in IBOS is to provide banking services within the countries they cover, as well as enabling the country to become part of a regional Cash Management scheme if this is at all feasible.

The typical characteristics of an Associate are:

• The Associate is a fully-fledged bank in its own country and is owned by a Member
• It operates in either a small country economically, or one in which major companies rarely house their financial management functions
• The currency may not be one where it is sensible to move it out of its home country for Liquidity Management

The Associate is required to provide an efficient banking service for their country, addressing the intricacies and terms of trade prevailing in that country.

The Associate is also required to enable cash in that country to be mobilised by the customer within a regional scheme to the extent that this is possible on the basis of regulation, timezone and currency.