...Banking system and bank regulation In Ukraine The current banking system in Ukraine is two-tiered, comprising the central bank of the country and commercial banks. The central bank of Ukraine is the National Bank of Ukraine (NBU), it controls the national currency, supervise the banking system and issue current banking regulations. Commercial banks operate under the authorization and supervision of the NBU, including the state-owned Export-Import Bank (Ukreximbank) and a specialized commercial Savings Bank (Oschadnybank). Commercial banks are formed as joint-stock companies or as companies on an equal footing with both legal and natural persons involved. The range of commercial banks activities includes: receiving deposits of enterprizes, institutions and households, crediting of economic entities and households, investments in securities, formation of cash balance and reserves, as well as other assets, cash and settlement servicing of the economy, foreign exchange operations and other services to natural persons and legal bodies. Numerous Ukrainian commercial banks have joined the Society for Worldwide Interbank Financial Telecommunications (SWIFT). SWIFT provides financial data communication and processing services supporting the business activities of banks around the world. Participating Ukrainian banks can instantly settle transactions with other banks on-line with SWIFT. Western Union also has a funds transfer service between Ukraine and other countries. ...
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...Legal Environments of Business Final Exam Essay SHADOW BANKING SYSTEM We hear a lot of talk about the “shadow banking system” and its crucial role in the financial crisis. But are we taking the time to step back and ask some basic questions: What is shadow banking, where did it come from, how did it operate, what role did it play in recent financial crisis and how do we deal with it going forward? Shadow Banking System definition The financial intermediaries involved in facilitating the creation of credit across the global financial system, but whose members are not subject to regulatory oversight. The shadow banking system also refers to unregulated activities by regulated institutions. Comprising Entities The Shadow banking system entities that make up the system is made up of non-depository banks as well as other financial entities which included insurers, hedge funds, investment banks, money market funds, structured investment vehicles, conduits and monolines. Two examples of well-known shadow banking institutions are Bear Stearns and Lehman Brothers. Shadow banking institutions are usually the middle men between the investors and borrowers making it possible for both parties to meet. For instance, if a corporation is looking for funds to borrow, at the same time an institutional investor like Bear Stearns or Lehman Brothers may be willing to lend money. This is where the shadow banking institution steps in to create a passage of funds from investor to the...
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...Chapter 5 Financial System of Malaysia 5.1 Financial System Structure in Malaysia The Malaysian financial system is structured into two major categories, Financial Institutions and Financial Market. The Financial Institutions comprise Banking System and Non-bank Financial Intermediaries. The Financial Market in Malaysia comprises four major markets namely: Money & Foreign Exchange Market, Capital Market, Derivatives Market, and Offshore Market. Chart 1: The Financial System Structure in Malaysia Financial System Financial Institutions Banking System Non-Bank Financial 1. Bank Negara Malaysia Intermediaries 2. Banking Institutions 1. Provident and Pension • Commercial Banks Funds • Finance Companies 2. Insurance Companies • Merchant Banks (including Takaful) • Islamic Banks 3. Development Finance 3. Others Institutions 4. Savings Institutions Financial Market Money & Foreign Exchange Market 1. Money Market 2. Foreign Exchange Market Capital Market 1. Equity Market • Discount...
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...Financial Markets and Institutions ULAB 12/28/2011 Department: USB Section: 01 Islamic banking system Letter of Transmittal December 28, 2011 Shahriar Kabir Lecturer Financial Markets and Institutions ULAB Subject: Request to Accept Term Paper regarding “Islamic Banking System” Dear Sir, We are very pleased to submit the term paper on “Islamic Banking System”. We were assigned to prepare and submit this term paper as the partial fulfillment of the course Financial Markets and Institutions (Course Code: Bus 421). We have tried our best to prepare this term paper perfectly. Nevertheless, this paper has been suffered by time and other resource limitation. We will be obliged, if you kindly accept this term paper. We are ready to make you clear regarding any confusion or further clarification from this term paper. Sincerely yours, Nasrin Akter (On the behalf of all the group members) Table of contain Title | Page no | Executive summary ……………………………………....……4Introduction ……………………………………..….………….5History………………………………….…………….…...........5Features of Islamic bank………………………………………..6Who follow……………………………………………………...6Who are the customers ………………………………………….6Principles of Islamic banking……………………………………6Worldwide Islamic banking ……………………………………..7Activities of Islamic Banks...
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...Bachelor in Business Administration (BBA) REPORT TOPIC: Islamic Banking System in Bangladesh Course name: INTRO. TO BEHAVIORAL SCIENCE Section: F (BBA) Course Instructor: MOHAMMAD MOSTOFA JAMAN Faculty of Business Administration Department of BBA American International University-Bangladesh Group Members Name and ID: 1. Nahar Tanjin 2. Nibir Md. Nahidul Islam 3. Niger Farzana 4. Hossain Mohammad Saddam 5. Mustasin Abdullah Al Date of Submission: 13th December, 2011 SOCIAL ISLAMI BANK LTD. A Joint Venture Islamic Bank SOCIAL ISLAMI BANK LIMITED 15, Dilkusha Commercial Area Dhaka-1000 Bangladesh Phone: 880-02-9559014, 9557499, 9568275, 9565647 Fax: 9568098 E-mail: info@sibl-bd.com ceo@sibl-bd.com URL: www.siblbd.com Webmail: mail.sibl-bd.com LETTER OF TRANSMITTAL 13TH December, 2011. MOHAMMAD MOSTOFA JAMAN Faculty of Business Administration Department of BBA American International University-Bangladesh Subject: Submission of the report on Islamic Banking System in Bangladesh. Dear Sir, Following your instruction we have prepared a formal report on “Islamic Banking System in Bangladesh” to serve our purpose. By the time of preparing this report...
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...ISLAMIC BANKING SYSTEM & PRODUCTS Name Course Instructor Institution Date Islamic banking Introduction Over the past decades, Islamic banking has expanded into a distinctive and fast growing competitive substitute to conventional banking in many countries. Despite the rapid expansion of the Islamic banking system in recent years, little is however understood of how it differs from conventional banking systems, especially in the non Muslim world. Although Islamic banking works in accordance with the Islamic laws (shariah), in other countries, they are allowed to operate incomparably with the conventional banks that are interest based. The desire of Muslim communities to reorganize their social economic activities, and revival of financial institutions such as Zakah on an interest free basis can be said to be the main drivers to the development of Islamic baking over the past (Wilson, 1994: 110). Nevertheless, Islamic banking is not a religious product as it may insinuate, but it can rather be understood as a series of growing financial products that are developed with the aim of meeting the requirements of Islamic culture and its people (Sole, J. A., 2007: 6). Thus theses systems have developed so as to enable Muslims to invest savings and equally raise finance without compromising their religious and ethical practices. In order to comprehend the fundamental principles of operation of the Islamic banking system, it is thus necessary to understand what it is. There is...
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...This assignment discuss about the central banking system. Central bank also known as the reserve bank, is an independent institution that manages a state’s currency, money supply and interest rate (repo rate), it also supervises the commercial banking system and operate as monopoly (the only firm that has total control over the sector) and act as a banker to the Government. Example of this is the South African Reserve Bank (SARB) as it satisfies all of the above conditions. Most reserve banks like the Reserve bank of South Africa, SARB has the primary purpose, which is to achieve and maintain price stability and sustainable economic growth in their states. Central banks are responsible for the following: controlling the money supply, administers...
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...Banking System If we traced back the history of banking system, it will goes back to 2000 BC in Assyria and Babylon where farmers were given ‘grain loan’ and a safe place to deposit or keep their extra grain. With the discovery of precious metal such as silver and gold, ancient people actually used these precious metal as the de facto ex change value when they traded among themselves. Some of the ancient civilisation include but not limited to the Roman, Greek, Egyptian, Chinese , Indian and Muslim. Usually house of worships or palaces were used as the repository for the ancient people to keep their extra wealth. These repository also provide ‘loan’ such as grain seed for farmers to plant and usually need to repay back with interest after the subsequent harvest season. Mediaeval Europe also saw the proliferation of banking system or banks. Country like Italy, in her rich cities such as Genoa, Venice and Florence, seen wealthy merchants set up ‘banks’ to facilitate its vibrant trading activities. Such bank included Medici Bank, established by Giovani Medici in 1397. The oldest bank in Italy, Monte Dei Paschi de Siena still operating with headquarter in Siena, Italy and it was formed way back in 1472. The emergence of modern banking system can be traced back to the 17th century of England. This is including what we always been told ie ‘fractional banking system’. During the 17th century, wealthy merchants will keep their precious metal such as gold and...
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...How should the banking system be regulated? • The post Bretton woods era was marked with political disputes by developed countries and new policy regimes in response to the failures of previous crises. During the Bretton Woods system, capital controls were an instrument to prevent the instability but with the rise of the Euromarkets in the 1960’s capital controls had been reduced and became difficult to enforce effectively. Towards the end of the 1970’s both the UK and US had adopted financial deregulation which encouraged competition between banks and this led to developing countries adopting similar methods. • Since the Bretton Woods era, there has been more integration between economies and this has led to a more globalised world. Global capital mobility along with global lending has increased, and advances in technology have allowed financial innovation that tested state boundaries encouraged more globalization, not less. Trade continued to expand as it had during the Bretton Woods era, but after Bretton Woods there was a shift towards more neoliberal policies which favoured liberalisation and the openness of markets. • Many of the debates that took place after the financial crisis were concerned with an increasing role of regulation around the world with the help of governments. Firstly, after the financial crisis it was clear to see that the goal of financial stability had to be included in monetary policy but what tool could be used to do this effectively? Interest...
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...Cracow University of Economics Money & Banking THE BANKING SYSTEM IN VIETNAM THE BANKING SYSTEM IN VIETNAM As one of fastest grown economies in Asia with annual economic growth rate around 5 to 7% (5.98% in 2011), almost 70% of Vietnamese inhabitants are in the working age from 15 to 64 years old,Vietnam’s economy has become an attractive market for investors worldwide as a tiger in South East Asia. Investing in Vietnam generally and in its financial market as well provides investors diverse benefited opportunities. That’s the reason why I chose the subject to give the readers some comprehensive information about this new – opened potential financial and banking system. 1. History of the Banking System in Vietnam The development of the Banking System in Vietnam has closely linked with its national history. Before the August Revolution 1945 Vietnam was under the French colonialists’ rules. The banking and credit systems was founded and protected by the French colonial Government through the Indochina Bank, which acted as both the central bank of the whole Indochinese region (Vietnam, Laos and Cambodia) and a commercial bank. After the establishment of the Democratic Republic of Vietnam in September 1945 the new elected Government attempted building a monetary and banking system independently from French. In the second Congress of the Vietnam Workers’ Party (February 1951) President Ho Chi Minh signed decree on establishment of the Vietnam National Bank (Ngân Hàng Quốc Gia Việt...
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...Banking and Financial Systems SOUTH AFRICA [pic] | | Summary Introduction page 3 I) Executive Summary. page 4 II) The Financial System: page 4 A) The Banking System page 5 B) The Financial Market page 7 III) The Legal Side: page 7 A) Legal Framework page 7 B) Regulatory Oversight page 8 IV) Depository-Taking Institutions. page 9 V) Banking Issues and Challenges Prospect. page 10 Conclusion page 12 Sources page 12 Annexes page 13 Introduction For years ago, South Africa has been facing a lot of racial, political and demographic problems. On the first hand, this country must face these elements and on the other hand it must still working to become a powerful economic country in the world. With this report we are going to develop the Financial System of South Africa which is a key sector in the country. The South Africa Gross Domestic Product is worth 277 billion dollars or 0.45% of the world economy, according to the World Bank. While it contracted 2.80% over the last 4 quarters, the economy was expected to move back into growth in the last quarter of the year and GDP growth of 1.5% is forecast for 2010, rising to 3.2% by 2012. South Africa has a two-tiered economy; one rivaling other developed countries and the other one with only the most basic infrastructure...
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...sound and effective banking system is fundamental requirements. Banking system of India is not hassle free but it must have ability to face the new challenges imposed by external as well as internal factors. The history of banking industry can be summarized within three stages. In this stage the economy planning was introduced, and an effort was made for regulating monetary and banking activity as the planning was required and essential. Imperial bank was renamed as State bank of India under the State Bank of India act, 1955. In 1960 and 1969, 7 subsidiary banks were nationalized and in the year 1980 the number increased to 14, as SBI nationalized total 14 major banks. The flow in industrial and agricultural...
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...Introduction As a developing socialist country, China’s banking system is quite different from the banking systems in the western economies. In this essay, after a brief illustration of the development of banking system in China, the recent event of money shortage in it will be discussed. Development of banking system in China “Piaohao” is the earliest Chinese form of bank which appeared in the Qing dynasty (over 200 years ago). It is a firm for exchanging and transferring money, and it also provided deposit and loan services. However, the first modern bank is established by the English in Shanghai in 1845 (Wang, 2008). After the People's Republic was founded in 1949, the modern banking system of china was built and developed gradually. Recently there are 3 major types of bank in the system. First, the central bank, which is The People’s bank of China, operates similar functions as that of western countries. And it is the only bank that can issue Chinese currency (RMB) and unify the national currency (PBC, 2013). The second type of bank is policy banks, which are established by the Chinese government and they are non-profit oriented. The major role of these banks is to provide long-term financing support for economic and trade development and state-invested projects (Wong, 2001). The last type is commercial banks, including state-owned banks, local bank, private bank, foreign bank and other types of small and medium banks (Wong, 2001). In particular, the “big four” state-owned...
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...INDIAN BANKING SYSTEM – ROLE AND CHALLENGES Banking Industry creates a chain of economic activity in the country. When a bank lends, it is followed by a number of activities like investment, production, employment etc., finally the effect of it is reflected on the economy. The economic implications of banking activity can be mentioned as removal of poverty, promotion of employment opportunities, encouraging savings, improving capital market etc., with more banking activity, economic growth in the country will speed up leading to more economic development. BANKING HISTORY Bank of Hindustan was set up in 1870.It was the earliest Indian Bank. Later three presidency banks were set up in 1876.Bank of Calcutta, Bank of Bombay and Bank of Madras which laid the foundations for Modern Banking in India. In 1921 all presidency banks were amalgamated to form the imperial bank of India. It engaged in all types of commercial banking business except dealing in foreign exchange. RBI Act was passed in 1934 and it was constituted as an apex body without major government ownership. Banking regulation Act was passed in 1949. This regulation brought RBI under government control. In 1955 RBI acquired control of the Imperial Bank of India which was renamed as State Bank of India. The Narasimha committee report suggested wide reforms for the banking sector in 1992 to introduce internationally accepted banking practices. As a result the year 1993 saw the entry...
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...AN INTERNET BANKING SYSTEM Computer Science Honours Documentation 2012 Author: Mohamed Hassan Ali Student Number: 3270152 Supervisor: Mr. Michael Norman Department of Computer Science A mini-thesis submitted in partial fulfillment of the requirements for the degree of B.Sc. Honours. ABSTRACT The adoption of Electronic Banking by commercial enterprises has been in existence since the mid 90s, much greater in number due to lower operating costs associated with it. Electronic banking has initially been in the form of automatic teller machines and telephone transactions. More recently, it has been transformed by the Internet, a new delivery channel for banking services that benefits both customers and banks. Internet banking system services can include: Open an account, Balance enquiry, Request for Cheque book, Beneficiary payments (EFT), Viewing monthly. Furthermore, customer’s application for electronic banking facilities is expanding as the cost savings on transactions over the Internet are significant. i PLAGIARISM DECLARATION I, Mohamed Hassan Ali, certify that this project is my own work. I understand what plagiarism is and I have used quotations and references to fully acknowledge all the words and ideas of others, which we have used in our project. I have not copied anyone else's project. I have also not permitted anyone to copy my project. Signature: _ _ _ _ _ _ _ _ _ _ _ ii ACKNOWLEDGEMENTS First and foremost I am ever...
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