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what are the functions and structures of world bank

2006-06-18 21:34:59 · 2 answers · asked by ikennaigwe4real 1 in Education & Reference Higher Education (University +)

2 answers

Worldbank, also called Worldbanc, is an international accounts network that sits on the backbone of the global economy. It provides access to any bank account from any bank connected to the network, globally, and is used mostly for intra-governmental account transfers sometimes continent to continent in payment for billion dollar deals negotiated by representatives of the most powerful corporations and political powers on the globe. Every fortune 500 company has atleast 1 account on the worldbank network, with a few million in liquid cash ready for a catastrophie. much of the trading of stocks, bonds, chips and futures are traded using worldbanc account funds transfers, because of the garanteed security, and the destruction of the world trade towers in NY having no impedence on Worldbanc's function proved that difinitively.
Given the extreme nature of value that this bank network deals with every day, their security procedures are far more advanced than hollywood movies like Swordfish would have you believe, however the movie was accurate in that everything the Worldbank does is done through a bank of computer servers, same as Visa, American Express or DinersCard. What it didn't show is that those computers are locked in a low pressure, supercooled vault similar to the security systems in place at the multibillion dollar casinos in Las Vegas, Nevada. And these systems are in place in every bank on the network, from Dubai to New York. Each server contains a little bit of the information stored on the network, but no server has al the information about anything or anyone. This is a data sharing method called striping, where if a server goes offline no data is lost. This makes the system impervious to terrorist attack, given that no amount of organisation could mount a coordinated, secret attack on 500+ global locations simultaneously.
It is the fort knox of the global financial economy, and everyone in the finance business knows its the holy grail of wealth status symbolism. Only a select few physical persons were offered private accounts at Worldbank in the network, and most of them are dead today.

2006-06-26 06:34:28 · answer #1 · answered by Bawn Nyntyn Aytetu 5 · 0 0

The World Bank is a multi-lateral financial agency tied to the United Nations, and established in 1945. The Bank is owned by member governments who exercise their direction through a Board of Governors, consisting of one governor for each of the 188 member countries. The governors meet once a year to review operations and basic policies. They delegate most functions and the responsibility for the day-to-day running of the organization to 25 full-time Executive Directors, who are based at the Bank’s Headquarters in Washington, DC, USA.
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2014-09-19 03:14:32 · answer #2 · answered by ? 1 · 0 0

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