KNOW YOUR CUSTOMER (KYC) KNOW YOUR CUSTOMER (KYC): The adoption of effective Know Your Customer (KYC) program is an essential part of financial institutions’ risk management policies. Having sufficiently verified/corrected information about customers ―Knowing Your Customer (KYC) – is the most effective defense against being used to launder the proceeds […]
Read moreSearch Results for: Bank account
Bangladeshi Taka
Bangladeshi Taka Bangladeshi Taka: 1 Taka Note (One Taka Note),2 Taka Note (Two Taka Note), 5 Taka Note (Five Taka Note), 10 Taka Note (Ten Taka Note), 20 Taka Note (Twenty Taka Note), 50 Taka Note (Fifty Taka Note), 100 Taka Note (One Hundred Taka Note), 200 Taka Note (Two […]
Read moreBangladesh Foreign Exchange Dealer's Association (BAFEDA)
Bangladesh Foreign Exchange Dealer’s Association (BAFEDA) Bangladesh Foreign Exchange Dealer’s Association (BAFEDA) was formed in a bankers’ meeting held on August 12, 1993 in the Board Room of Rupali Bank Ltd. to help the development of an orderly inter-bank foreign exchange market in Bangladesh. It’s major activities include framing of […]
Read moreThe financial system of Bangladesh
The financial system of Bangladesh Financial System of Bangladesh Introduction: Financial system of Bangladesh is getting emerged with the assistance of Bangladesh Bank, powered by Bangladesh Bank Order 1972, which is now acting as regulatory body of financial institutes. Under the guardianship of Bangladesh Bank, 56 scheduled banks and 31 […]
Read more
Mizuho Financial Group
Mizuho Financial Group Mizuho Financial Group, Inc. abbreviated as MHFG, or simply called Mizuho is a banking holding company. It,s headquarter is in the Ōtemachi district of Chiyoda, Tokyo, Japan. The name “mizuho literally means “abundant rice” in Japanese and “harvest” in the figurative sense. Mizuho Financial Group holds assets […]
Read more
Sumitomo Mitsui Financial Group
Sumitomo Mitsui Financial Group Sumitomo Mitsui Banking Corporation Sumitomo Mitsui Financial Group, Inc. (SMFG;Kabushiki kaisha mitsui sumitomo finansharu gurūpu?) is a Japanese bank holding / financial services company established by Sumitomo Mitsui Banking Corporation, which is the second largest bank in Japan by market value (as of Nov 2009). It […]
Read moreThe Salient Features of a Cheque
The Salient Features of a Cheque Cheque A cheque is a document of great importance in the business world. It can be passed from one hand to another easily and so it has become a popular mode of payment. A cheque is the most economical and safe method of money […]
Read moreHow to Endorsement
How to Endorsement How to Endorsement A negotiable instrument may be transferred by negotiation or assignment. Negotiation can be effected by mere delivery if the instrument is a bearer one and by endorsement and delivery in case it is an order instrument. An order instrument means instrument payable to a […]
Read moreWhat Precautions to honor Cheque
What Precautions to honor Cheque What Precautions to honor Cheque The relation between a banker and his customer is that of a debtor and creditor. Money deposited with a banker is always belongs to the customer and the bank obliged to return its equivalent to the customer or to any […]
Read moreSecurity against Loan
Security against Loan Normally a banker does not lend money without adequate security. Security is meant to be an insurance against the money lended. The different types of securities which may be offered to a banker generally are as follows: (i) Immovable properties (ii) Movable properties (a) Goods (b) Documents […]
Read moreLoan against stock exchange securities
Loan against stock exchange securities The following are the drawbacks of advancing money against stock- exchange securities : (i) Liability to pay in case of partly-up shares. In case partly paid shares have been transferred in the banker’s name and the company makes a call, the banker will have to […]
Read moreLoan against Documents of Title of Goods
Loan against Documents of Title of Goods Documents which in the ordinary course of trade, are regarded as proof of the possession or control of the goods, are called documents of title. They authorize the holder thereof to transfer or receive goods which are mentioned therein. Bill of lading, dock […]
Read moreLoan against Supply Bills
Loan against Supply Bills Loan against Supply Bills: The Government and Semi-government Departments or institutions make their purchases from the market by inviting tenders. The person or contractor who quotes the lowest price, gets the order for supply of the goods or completing the work. Before the goods are finally […]
Read more
SIBL Credit Card
SIBL Credit Card SIBL Credit Card:In today’s modern world credit card is very extensively used mode of financial transaction and it is widely known as “ Plastic Money”. It has created an immense impact in the life of the people all over the world.The same trend is being followed […]
Read moreBai Murabaha
Bai Murabaha The term ‘Bai-Murabaha’ has been derived from Arabic words ﻊﻴﺒ and ﺢﺑﺭ (Bai’un and Ribhun). The word ﻊﻴﺒ means purchase and sale and the word ﺢﺑﺭ means an agreed upon profit. ﺍﻠﻤﺮﺍﺒﺢ ﻊﻴﺒ ‘Bai-Murabaha’ means sale on agreed upon profit. Bai-Murabaha may be defined as a contract between […]
Read more