full-fledged Islamic bank currently working in this country. Reserve Bank of India and other legal institutions of India are not issuing license to banks to work as per the principles of Islamic banking. Necessary measures are, however, being taken by India Government for the same. The present study is taken to explain how Islamic banking is better for India and weather it is possible to integrate Islamic banking to current financial system. It also explains how Islamic bank can commence in India
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transactions and lower their costs. Efforts have been concentrated on improving the credit delivery mechanisms. Although the Narasimhan Committee on the Financial System (1991) recommended the phasing out of the directed credit programme at 10 per cent of the bank credit not only the proportion has been retained at 40% level but its coverage has been considerably enlarged. The appropriate instrument to achieve distributive justice is fiscal policy not credit policy. Fiscal policy ensures the scrutiny of budget
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audit due to the below reasons: * Almost all business transactions will be ultimately settled through the cash accounts * Cash can be either and asset or a liability * The audit of cash accounts assists in the verification of other asset and liability accounts as well as revenue and expenses * Cash is the highly liquid asset in a company and it is an area of high inherent risk since there is a relatively high risk of misappropriation. * Investors rely on the accuracy of cash
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1. Executive Summary This paper aims to study the case in depth from an objectiveview.Commercial banks use in the introduction of foreign strategic investors will really enhance the company's value, and provides a high yield of financial investment opportunities for foreign strategic investors.The proposed investment in Shenzhen Development Bank (SDB) by Newbridge in 2002 and evaluate the 1.6 times book value that Newbridge agrees to pay for its 18% stake in SDB is appropriate. 2. Introduction
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will be to inflate profit figures. Some companies may also reduce reported profits in good years to smooth results. Typical creative accounting tricks include off balance sheet financing, over-optimistic revenue recognition, and the use of exaggerated non-recurring items. Window-Dressing Window dressing means presenting company accounts in a manner which enhances the financial position of the company. It is the worst technique and
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Introduction to banking sector Whenever you think of Banks what comes to your mind? Your salary account, your savings account or if you are a businessman your current account. Maybe you are also thinking about loans you took from a bank – your home loan, your car loan or your personal loan. But, did you ever pause to think how does this industry actually work – What is the structure of the Indian Banking Industry? What is its business model? How does a bank make money? What is its future outlook? Let us
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UNCTAD/OSG/DP/132 THE CAUSES OF FINANCIAL DISTRESS IN LOCAL BANKS IN AFRICA AND IMPLICATIONS FOR PRUDENTIAL POLICY Martin Brownbridge No. 132 March 1998 The author thanks Samuel Gayi, Andrew Cornford, Richard Harrington, Charles Harvey and Saqib Jafarey for valuable comments, but accepts sole responsibility for all errors and the views expressed in the paper. UNCTAD/OSG/DP/132 - ii - The opinions expressed in this paper are those of the author and do not necessarily reflect the
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implementing a strategy that is delivering better returns today, and building a sustainable business for the future. It is the strength we’ve built into our business today, with sector leading capital, a robust funding and liquidity position, and superior asset quality, that is helping us lead tomorrow. As a result we can respond to opportunities as they emerge and invest to transform the organisation. We’ve been proudly supporting Australia, New Zealand and our region for almost two centuries and we’re singularly
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ALLIED BANK COMPANY BACKGROUND: Allied Bank’s history can be traced back to the defunct General Bank and Trust Company (General Bank). In 1977, Lucio Tan acquired the General Bank for only P500,000 and renamed it as Allied Bank. In 1981, it was authorized by the Bangko Sentral ng Pilipinas to operate an expanded foreign currency division and became a universal bank. A year later, Allied Bank opened the Allied Capital Resources, Ltd. in Hong Kong. In 1979, it became the number one bank in terms
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colorful history. It began in 1828 when, as the Philippines reaped the benefits of increased trade, King Ferdinand VII of Spain issued a decree mandating the establishment of a public bank in the Philippines. However, it took 23 years before that bank could become a reality. The man behind the actual organization of the bank was no less than the governor-general of the Philippines at that time, His Excellency Antonio de Urbiztondo y Eguia. Gov. de Urbiztondo was a marquis of Solana in Spain who
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