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What you Know about Western Union     Western Union money transfer Company Company Type:  Public Company Industry:      Financial services provider Founded: On 1851 Founders: Ezra Cornell Headquarters: Meridian, Colorado, United States Key people: Jack M. Greenberg (Chairman) Hikmet Ersek (President and CEO) Services: 1) Wire transfers 2) Money orders Revenue      Decrease US$ 5,542.0 million (2013) Increase US$ 5,664.8 million (2012) Operating income Read more [...]
 ‘Green Banking way to sustainable economic growth’   Dhaka, June 11:  Speakers at a workshop observed that green banking can be an avenue to reduce pollution and save the environment aiding sustainable economic growth. They said banking sector is a major source of financing for commercial projects which is one of the indicators of economic growth recently. These observations came at a workshop on green banking organised by Bank Asia Ltd in the city marking the World Environment Read more [...]
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Dictionary Lookup Box Online Reference Dictionary, Encyclopedia & more Word: Look in: Dictionary & thesaurus Medical Dictionary Legal Dictionary Financial Dictionary Acronyms Idioms Encyclopedia Wikipedia Periodicals Literature Other languages: Spanish Dictionary German Dictionary French Dictionary Italian Dictionary Chinese Dictionary Portuguese Dictionary Dutch Dictionary Norwegian Dictionary Greek Read more [...]
BFIU Circular Publish Date Title Link Published by: Bangladesh Financial Intelligence Unit 30/12/12 BFIU Circular No. 06: Instructions to be followed by Capital Market Intermediaries for compliance of the prevention contained in the Money Laundering Prevention Act. 2012 and Anti Terrorism Act, 2009(Including amendment of 2012) Bangla download 17/12/12 BFIU Circular No. 05: Instructions to be followed for international and domestic wire transfer Bangla download 10/10/12 BFIU Read more [...]
Banking Glossary   Acceptance Letter A letter from the applicant indicating his willingness to accept the loan after the loan is approved by the banking institution.   ActiveX A software technology that has a set of rules on how applications should share information which allow programmed capabilities or content to be delivered to Windows-based personal computers via the Internet.   Administrative charges on overseas transactions Charges imposed on overseas transaction Read more [...]
Islamic Banking vs. Conventional Banking (Foreign Exchange Mode) From the view point of Islamic “Shariah’ (law), in order to be justified as an Islamic way of dealing with financial transactions the banking systems has to avoid interest. Consequently, financial intermediation in Islamic banking between the bank and the client takes place as a partner rather than a debtor-creditor. The financial activities of modern conventional banks are based on a creditor –debtor relationship between Read more [...]
Key point of Discussion General Concept About Foreign Exchange Operation   Concept of Foreign Exchange   Local Regulation for Foreign Exchange   Foreign Exchange Regulation Act   Guideline for Foreign Exchange Transaction   Foreign Exchange Circular   Export Import Policy   Public Notice   Instruction from different Ministry   International Regulations for Foreign Exchange          Read more [...]
Import Quize Test   Q.1. What is Foreign Exchange?   Q.2. What is CAMNEL?   Q.3. What is CCI&E?   Q.4. What is FEDA?   Q.5. What is LIBOR?   Q.6. What is SWIFT?   Q.7. What is UCPDC?   Q.8. What is Foreign Exchange?   Q.9. What are the two forms are used for Outward Remittance      of Foreign Currency?   Q.10. What are the two forms are used for Inward Remittance      of Foreign Currency?   Q.11. What Read more [...]
Objectives and importance of Bank Bank has various objectives as per other financial organizations. But banking organization view point is exceptional than others. The objectives of bank can be viewed from three different perspectives: 1) Objective from the view point of Bank owners, 2) Objective from the view point of the government and 3) Objective from the view point of Bank customers. 1. Objective from the view point of Bank owners i) Earning profit: Profit motive of the owners Read more [...]
Questionnaire-FEX   Tick (ü) the right answer:   1. Which one of the following is pre-shipment credit? a)      LIM. b)      PAD. c)      Packing Credit. d)      None of the above. 2. Exporters are allowed to open special type of F/C account under Exporter’s Retention Quota to facilitate: a)      Only business development of the exporter b)      To utilize the fund for any purpose c)      None of the above.   Bonded Read more [...]
Significant Changes in UCPDC-600 Significant Changes in UCPDC-600 Compared with Publication no. 500 *******  #Article     :1   :It has been expressly indicated that UCP600 contains rules.  #                :2  :All the parties including Banks and Clients have been categorically defined. Also different terminologies have been clarified.  #                :3:  :All the interpretations of UCP 500 have been compiled in a single Article of UCP Read more [...]
EDF (Export Development Fund)   Export Development Fund (EDF) is a special credit window created by Bangladesh Bank to provide short-term finance in foreign currency for import of raw materials by opening L/C at sight by the export oriented garment industries. At the request of Bangladesh Government with a view to developing its export, the International Development Organization (IDA) established an export development fund in Bangladesh Bank (Loan – 2000 BD). In this respect a treaty Read more [...]
Import & Export Financing   Legal framework of International Trade: i. Import & Export (Control) Act –1950 (Sub Section 1 of Section 3) Import Policy Order Export Policy ii. Foreign Exchange Regulation Act (FERA)-1947 iii. Guidelines for Foreign Exchange Transactions (GFET): Vol – I & Vol - II iv. Directives of NBR Customs Act- 1969 Pre-shipment Inspection (PSI) Act-1999 v. International Rules of ICC UCPDC–600 eUCP–Version 1.1 URC-522 URR-725 ISBP-681 Incoterms-2000 Main Read more [...]
How to define Bai- Salam Question: What is the meaning of Bai- Salam?  Ans:Bai- Salm has two words. One” Bai” and another one is “ Salam”. “Bai” means “ sales and purchase” and “ Salam” means advance sale and purcahse.  Question: How to define Bai- Salam? Ans: Bai-salam defined as a contract or agreement with a buyer and seller in which the seller is sold in advance the certain commodity (ies)/ products(s) permissible under Shairah and law of land to the buyer as per Read more [...]