of deposits and loans which mainly bring profit to banks. Banking system as financial intermediary in secondary market raises funds from different sources and then provides loans to customers and investment in securities. It is a channel between borrower and lender with purpose of stimulating national economy development. In effort of recovering the economy by helping business easily approach to capital, the Government regulated commercial banks in many credit activities. Of all them, reducing interest
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sector participation provided it is well supported and manged. The informal sector in itself may not be able to achieve much as we have presently due to inaccessibility to credit, but with the on-going policy of the Federal Government through the Central Bank of Nigeria on micro-financing the macroeconomic objective of reduced unemployment, if not full employment will become a reality in Nigeria. The microfinance policy has empowered the many microfinance institutions to provide credit to the informal
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what makes the move to digital extremely attractive for banks, and ones who seek to reduce cost and change with changing times, in other words modernize. The question that I seek to answer through this post is that in doing so, are Canadian (and more broadly North American) banks in danger of deserting one of finest ways of engaging with customers – i.e. branches? Over last 12 months, I have had the opportunity to speak with few bank executives. Through my conversations I observed that some
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focuses on the monetary instability created by central banks rather than on a boom-bust cycle in inancial markets. Robert L. Hetzel is Senior Economist and Research Advisor in the Research Department of the Federal Reserve Bank of Richmond, where he participates in debates over monetary policy and prepares the bank’s president for meetings of the Federal Open Market Committee. Dr. Hetzel’s research on monetary policy and the history of central banking has appeared in publications such as the
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Accounting Process: Books of Accounts leading to the preparation of Trial Balance, Capital and revenue expenditure, Capital and revenue receipts, Contingent assets and contingent liabilities, Fundamental errors including rectifications thereof. 3. Bank reconciliation Statement. 4. Inventories: Basis of inventory valuation and record keeping. 5. Depreciation Accounting: Methods, computation and accounting treatment of depreciation, Change in depreciation methods. 6. Preparation of Final Accounts
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the usual reserve manager of a country which uphold the liquidity, security, and profitability principals and that results in an even more detailed scrutiny to the SWF. The term SWF itself has first mentioned by Rozanov in 2005 when he wrote for Central Banking Journal1, but actually SWF have been around since before that. For example Government of Singapore Investment Corporation and Temasek Holdings, the two prominent SWF from Singapore have already been established in 1981 and 1974, respectively
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commodities such as oil, gold, etc The US dollar is one of the primary reserve currencies used worldwide. A reserve currency, also called an anchor currency, is a currency that is held in significant quantities by numerous governments and central banks as part of their foreign exchange reserves. These currencies are used to transact global business, and are the pricing currency for global trade. The amount of foreign exchange reserves that a country can claim is used as an indicator of the ability
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In modern world, financial crisis at world level can be traced back to 1920’s, when economic depression of 1929 occurred. It is said that history repeats itself. Today’s world financial crisis which started with mortgage crisis is only one aspect of history. Crisis began with sub-prime lending crisis and whole financial system was engulfed. Sub-prime crisis refers to the crisis faced by the mortgage companies that were in loaning business that due to adverse situations ran in trouble. As a result
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Question: Peter Drucker observes, the purpose of the business is to create a customer. Leveraging on your understanding of the concepts of market, marketing orientation and customer orientation critically examine the applicability of the Drucker’s observation to a financial service firm. [25] According to Drucker, there is only one valid purpose for a business, and that is to create a customer. This is because as Drucker wrote, “The customer is the foundation of a business and keeps it in
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authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy.” (“Criticism of the Federal Reserve” http://en.wikipedia.org/wiki/Criticism_of_the_Federal_Reserve) The Fed also stirs up controversy based on the fact that they are owned, through stock issuance, by private member banks, who most likely would not work in the interest of the
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