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Islamic banking and Commercial Banking Discussion of Islamic banking and Commercial Banking 1.0               Islamic Banking: Banking run on Islamic Principle. The Organization of Islamic Conference (OIC) defined an Islamic Bank as “a financial institution whose statutes, rules and procedures expressly state its commitment to the principles of Islamic Shariah and to the banning of the receipt and payment of interest on any of its operations.” 2.0               Read more [...]
Characteristic of Islamic Finance   What is the relevant characteristic of Islamic Finance? The most relevant characteristic of Islamic finance can be optimized in the following four basic principles: To avoid sinful activities To share the risk No exploitation Productive and Materiality purpose  To avoid sinful activities Islamic finance is about prohibition of receiving funds and/or channeling these funds in a sinful way as clearly outlined by the Shari’ah law. Hence, Read more [...]
How to improve your business credit score to secure finance You’ve possibly had your own credit have an effect on your ability to urge credit—whether it helped or hindered—but have you ever spent a lot of time considering your business credit score? you would possibly apprehend some principles for obtaining and keeping your personal credit score up and there square measure some principles which will even be of backing your business. Businesses’ credit scores play a key role in securing Read more [...]
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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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 [...]