History of Modern Banking system History of Modern Banking system The commercial revolution of the sixteenth and seventeenth centuries, caused by the discovery of America and other sea routes, was a prelude to the later industrial Revolution in England. Industrial Revolution gave a fillip to the production of wealth and […]
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History and development of banking History and development of banking Banking has come into existence to cater for the economic needs of society and is, therefore, an offshoot of civilization. Surely, there would be know need of a bank for a savage who live on wild roots and fruits. It […]
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Ask Me Anything: About Origin And Nature Of Banking The word “Bank” is said to have been derived from the Italian word ‘banco’, the original meaning of which is ‘shelf’, ‘bench’. It was extended to that of ‘counter’, money-lenders and money changers used to display their coins, whence ‘bank’. […]
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Banking supervision directives of Israel (A) The Governor of the Bank of Israel, according to his authority under section 28 of the Banking Law (Licensing) 1981, allows banks to allow their customers to perform transactions in their accounts Certain banking through communication banking systems. However retrieval Information provided by customers, […]
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Security- Concept & Types Characteristics of good Security Proper Valuation of Security One of the most important functions of a bank is to employ its fund by way of Investments/loans and advances to its customers and a bank’s strength depends considerably on the quality of its Investments/loans and advances. Though […]
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Discussion about Ijarah (Leasing) Ijarah (Leasing) Ijarah is a term of Islamic fiqh. Lexically, it means “to give something on rent”. In the Islamic jurisprudence, the term “Ijarah” is used for two different situations. 1) In the first place, it means “to employ the services of a person on […]
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Definition of Retail Investment Definition of Retail Investment: Retail Investment encompasses the range of products and services offered by a bank to individuals to meet individual banking and ancillary needs. In fact Retail Investment in SIBL delivers diversified financial products and services including savings accounts, salary accounts, deposit schemes, as […]
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Shortfall In Documentation And Others Lapses Shortfall In Documentation And Others Lapses. Lapses : Lapses arise out of any kind of irregularities, misstatements, non-compliances of existing policy & procedures of the Bank, law of the land by which the Bank may incur financial losses. Moreover, sometimes non-compliance of existing policies […]
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Shariah Compliance: Irregularities Detected While Inspecting Branch and Remedial Measure ِكُلٍّ جَعَلْنَا مِنكُمْ شِرْعَةً وَمِنْهَاجًا To each of you We prescribed a law and a method. [5. Sura Mayeedah : 48] SHARIAH & IT`S OBJECTIVES شريعة is an Arabic word : It means The way, Road Path, Destination […]
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What is Trade Based Money Laundering? Definition of Money Laundering What is money laundering? “Money laundering is the process by which criminals attempt to hide and disguise the true origin and ownership of the proceeds of their criminal activities, thereby avoiding prosecution, conviction and confiscation of the criminal funds.” UK-Joint […]
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Time And Stress Management Techniques Allah’s swearing by time: Swearing by time in several Qur’anic Ayah is taken as an indication of its significance. For instance: By time. Verily Man is in loss. ( Sura Al-Asr 1-2) By the night, when it covers (the sun and the day). By the […]
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Floating Rates of Exchange: Implementation Mechanism & Operational Procedure Exchange rate is one of the key macroeconomic variables and efficient management of exchange rate is very crucial for continued performance of external sector competitiveness and openness. Like the experiences of many other countries considering gradual openness and increasingly integrated pace […]
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What is the function of Treasury front office? Functions of Treasury Front Office: Statutory management Optimization of risk return through specialization and management Funding of the Balance Sheet at optimum prices Proposing interest rate matrix to the ALCO Proposing various investment options to the ALCO Analyze various economic trends and […]
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What are the Importance of International Business for economy? The points below highlight the importance of international business: a) Earn foreign exchange: International business exports its goods and services all over the world. This helps to earn valuable foreign exchange. This foreign exchange is used to pay for imports. Foreign […]
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What are the reasons against foreign Trade? Reasons against Foreign Trade are given below: Following points explain the need and importance of foreign trade to a nation. Division of labor and specialization Foreign trade leads to division of labor and specialization at the world level. Some countries have abundant natural resources. […]
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