UPSC CSE Prelims 2010
TheBank for International Settlements (BIS)is an international financial institution established in1930. It is owned by63central banks and serves as a bank for central banks, a forum for international monetary and financial cooperation, and a centre for economic and monetary research. Headquartered in Basel, Switzerland, BIS operates independently and isnot part of the United Nations systemor any of its specialized agencies.
The Multilateral Investment Guarantee Agency (MIGA), International Finance Corporation (IFC), and International Centre for Settlement of Investment Disputes (ICSID) are all constituent organizations of the World Bank Group. The World Bank Group is a specialized agency of the United Nations system, providing financial and technical assistance to developing countries. Therefore, these three institutions are related to the United Nations through their affiliation with the World Bank Group.