...Overview First World Bank Savings and Loan is transitioning to an open source network infrastructure with all of services available online. The availability of services to our clients and projected coast savings of $4 million dollars makes this a worthwhile investment. The design and architecture of this new open source infrastructure will ease future expansion of First World Bank Savings and Loan. Problem A secure network architecture must be constructed to ensure regulatory compliance issues are met and business continuity. Solution . Utilizing the 3 tiered network architecture we will install a front side firewall. This firewall will eliminate certain threats trying to access the FWBSL network. Behind this firewall we will deploy a “DMZ”...
Words: 287 - Pages: 2
...the branches, 39.95 per cent (2,412) are located in the urban areas and 60.05 per cent (3,626) in the rural areas. Of the branches NCBs hold 3,616, private commercial banks 1,214, foreign banks 31 and specialized banks 1,177. [pic] Janata Bank is a state-owned commercial bank of Bangladesh established in 1971. Its headquarter is situated at Motijheel in Dhaka, the capital city of Bangladesh. Immediately after the emergence of Bangladesh in 1971, the erstwhile United Bank Limited and Union Bank Limited were renamed as Janata Bank. On 15th November, 2007 the bank has been corporatised and renamed as Janata Bank Limited. It is the second largest commercial bank in Bangladesh. JANATA Bank Limited welcomes its customer to explore the world of progressive Banking in Bangladesh. It’s mainly catering the need of the mass...
Words: 5684 - Pages: 23
...Project Part 1 Task 1: Outline Security Policy Scenario To stay competitive in the financial institution market, the First World Bank Savings and Loan wishes to provide all banking services online to its customers. These services also include the online use of credit cards for loan applications. The organization estimates over $100,000,000 a year in online credit card transactions for loan applications and other banking services. A task team has been formed to study the cost, performance, and security of maintaining a Linux and open source infrastructure. According to rough estimates, annual cost savings in licensing fees alone can be up to $4,000,000. At the same time, the confidentiality, integrity, and availability (CIA) triad perspective needs to be taken into account for infrastructure maintenance. The task team has engaged a network engineer with the network and routing design. The team has determined the following server services that would be needed to support the online transaction infrastructure: * A database server * A Web server * A file server * A Simple Mail Transfer Protocol (SMTP) server * A Lightweight Directory Access Protocol (LDAP) server All servers would be physically located in a third-party data center. Tasks You need to: Understand the business need of First World Bank Savings and Loan. Point out specific legislation and regulations that meet the statutory compliance criteria. Assess the feasibility of Linux and open...
Words: 780 - Pages: 4
...it got bankrupt? CONTENTS Acknowledgement 2 Executive Summary……………………………………………………………………………….2 History of WASHINGTON MUTUAL 4 Principle Line of Business...............................................................................................................5 Reasons of Rise of Washington Mutual…………………………………………………………...6 Reasons of fall of Washington Mutual……………………………………………………………8 Conclusion……………………………………………………………………………………….12 Recommendations…………………………………………………………………………..........13 References………………………………………………………………………………………..14 Washington Mutual Introduction of Washington Mutual Washington Mutual, Inc. is a savings bank holding company and the former owner of Washington Mutual Bank, which was the United States' largest savings and loan association. Washington Mutual was incorporated as the Washington National Building Loan and Investment Association on September 25, 1889, after the great Seattle fire...
Words: 3801 - Pages: 16
...i The Poor and Their Money An essay about financial services for poor people Stuart Rutherford Institute for Development Policy and Management University of Manchester January 1999 The Department for International Development will be publishing this work in New Delhi during 1999. For further information contact Sukhwinder Arora at the Department for International Development, New Delhi, India. ii PREFACE Over the last 15 years initiatives to provide financial services to poor people (the ‘microfinance industry’) have come on by leaps and bounds in terms of size and reputation. Despite this, the industry is still only in its adolescence and our understanding of why and how poor and very poor people use microfinancial services ( and why many choose not to use the services that are available) remains partial at best. This essay takes the reader on a ‘voyage of discovery’ that seeks to both deepen her/his understanding and encourage her/him to apply that knowledge to the practice of microfinance. The voyage that Stuart Rutherford offers is a unique one based upon years of careful and detailed personal research. It does not take a deductive approach that develops a theoretical model of the financial behaviour of poor people. Nor does it follow the ‘case study plus best practice’ approach that has been favoured by many practitioners when they write of microfinance. Instead, it adopts an inductive approach - based on thousands of conversations and meetings with...
Words: 42654 - Pages: 171
...: Jacqueline De Santis You are the chief executive officer of Money Games Inc.(MGI), which has begun to market Borrow & Spend, a video game set in the world of finance. To buy ads, MGI borrows $50,000 from First Savings Bank. On MGI's behalf, you sign a note for the loan and offer its accounts receivable as collateral. You sign a security agreement that describes the collateral. The bank does not file a financing statement. Has the banks security interest attached? If so, when? In order for the safekeeping interest to be accomplished it must first be recorded; which is done with a financing statement. In order to succeed in perfecting the security interest in the accounts receivable, a UCC-1 has to be filed with the state. This then gives all of the creditors a notice that the security interest has indeed been perfected or even attached if there wasn’t any security interest before. This also aids that an additional creditor who has secured debt with a security arrangement can and will not be before First Savings Bank. Without a financing statement, First Saving Bank can be susceptible to be second to a subsequent secure creditor, or even a lien holder. Of course the loan is secured by the security agreement, but the agreement is not effective against secured creditors. Hypothetically speaking, First Savings Bank can take the collateral if there was a default, but no bank will really do the deal without having and filing a financing statement to keep on record. There...
Words: 472 - Pages: 2
...Introduction At Toy World Inc., President Jack McClintock is considering the adoption of a level monthly production plan for the coming year. The manufacturer of children’s plastic toys currently employs a production plan that follows the seasonality of sales. In considering whether to implement a level monthly production schedule, we compared the benefits and costs of both methods in relation to the financial and operational needs of the business. This allowed for an in-depth analysis of the savings allowed by a level monthly production schedule, and the impact of such a system on timing, cash flow and risk. As a toy manufacturer, Mr. McClintock’s company would face unique risks under the proposed system of production. These risks were compared to those accepted under a seasonal production schedule. By completing this analysis, we determined that Toy World Inc. would benefit the most from maintaining a seasonal production system. However, since a level monthly production plan would result in cost savings for the company, we have presented options through which Mr. McClintock can manage the financial implications of this schedule. Benefits of Level Monthly Production Mr. McClintock can expect to see savings of $490,000 in labour costs under this production system. These savings would be reflected in a lower cost of goods sold (70% of sales to 65.1%). A level monthly production plan allows the removal of overtime wage premiums in peak seasons, resulting in savings of $225,000, and...
Words: 1386 - Pages: 6
...strictly following the Grameen methodology, as it had been conceived in its early days. Grameen Koota was then born to deliver, in a cost-effective and sustainable manner, affordable credit to the poor in Bangalore, making it possible for them to borrow money without being required any documentation, collaterals and transaction history. The purpose of this report will be to analyse how Grameen Koota institution integrates in the Indian framework of microfinance and financial inclusion. One knows the microfinance context in India has soon been dominated by Self-Help-Groups. Usually formed by 20 members, they work as a micro-bank which collect members’ savings and grant them loans. Many cultural and operational differences can be observed with the Grameen model where groups are ruled quite strictly by a MFO: savings are compulsory, loans are granted according to an inflexible logic and reimbursement are highly scheduled. Even though the Grameen classic model has seen the necessity to adapt itself – with the Grameen II model in 2001 – and in spite of India SHGs tradition, to what extent Grameen Koota strictly replicates the original Bengali Grameen model? Have the organization been inspired by Indian microfinance legacy? Is Grameen Koota model replicable? Grameen Koota background: a book, a teacher and a village Vithana M. Reddy used to run the Gurukul school in the Avalahalli village, near to Bangalore, when she read through Alex Count’s book, Give Us Credit, in 1996. President...
Words: 4098 - Pages: 17
...INTRODUCTION In the modern world, microfinance has been recognized as one of the most innovative tools for a sustainable economic development. In the last decade, the discussions on microfinance at the international have been multiplied because this type of financial services does not simply arouse interests about the financial world, but also about numerous political and social matters. Many times, diverse scholars expressed different innovative techniques for alleviating poverty, but the microloan idea provided by professor Dr. Muhammad Yunus, seemed to work better in driving the people away from the poverty traps. Hence, microfinance institutions are alternative financial service providers that usually offer financial services to the low-income...
Words: 922 - Pages: 4
...most readers to understand. (January 2010) Microfinance is a source of financial services for entrepreneurs and small businesses lacking access to banking and related services. The two main mechanisms for the delivery of financial services to such clients are: (1) relationship-based banking for individual entrepreneurs and small businesses; and (2) group-based models, where several entrepreneurs come together to apply for loans and other services as a group. In some regions, for example Southern Africa , microfinance is used to describe the supply of financial services to low-income employees, which is closer to the retail finance model prevalent in mainstream banking. Community-based savings bank in Cambodia. There are a rich variety of financial institutions which serve micro-entrepreneurs and small businesses. For some, microfinance is a movement whose object is "a world in which as many poor and near-poor households as possible have permanent access to an appropriate range of high quality financial services, including not just credit but also savings, insurance, and fund transfers."[1] Many of those who promote microfinance generally believe that such access will help poor people out of poverty, including participants in the Microcredit Summit Campaign. For others, microfinance is a way to promote economic development, employment and growth through the support of micro-entrepreneurs and small businesses. Microfinance is a broad category of services, which includes microcredit...
Words: 8756 - Pages: 36
...jewelry, gold, domestic animals, building materials or other things that easily can be exchanged for cash. To save money they might bury cash in the garden or stash it under the mattress. Some is participating in informal saving groups where a small amount of cash is contributed every day, week or month or asking neighbors to hold or pay local cash collectors to keep the money safe. But these informal savings is not a very dependable and a safe way to rely on. For example can it be difficult to get fast money if they suddenly needs a small amount of cash. In-kind savings is in the risk of fluctuations in commodity prices, destruction by insects, fire, thieves and illness. Informal rotating savings groups tend to be small and rotate limited amounts of money. This is why the formal financial institutions also play an important role for the poor people. * About Microfinance 1. What is microfinance? Microfinance is a provision of different basic financial services to individuals with low-income or who lack access to traditional formal banking services. These basic financial services is usually small loans and savings. The amount of money is small (micro) because the ability for poor people to handle and pay back larger loans is a risky business both for the lender as for the borrower. Especially since poor people often have the lack of knowledge and no assets to fall back on. 2. What is microcredit? Microcredit...
Words: 2694 - Pages: 11
...Particularly poor women are interested in this kind of services. In the past years 80% of all microfinance clients have been women. Simply by giving them the ability to hold an own bank account, to accumulate savings and to grow a business, they provide development and a better lifestyle for their families. U2 lead-singer and humanitarian advocate Bono is sure that when you "give a man a fish, he'll eat for a day. [But when you] Give a woman microcredit, she, her husband, her children and her extended family will eat for a lifetime".(Hewson, D.P./Bono, 2010) Not only superstar Bono but also the former United Nations Secretary-General, Kofi Annan is convinced, that there is no more effective tool for development than the empowerment of women. (Annan, K., 2005) Microfinance is about more than just helping to improve ones financial situation – for women it is a chance to speak up and stand up for themselves; to become more independent. However microfinance...
Words: 2702 - Pages: 11
...State of Microfinance in Bangladesh Prepared for Institute of Microfinance (InM) As part of the project on State of Microfinance in SAARC Countries By Dewan A. H. Alamgir 2009 Disclaimer Any opinions expressed and policy suggestions proposed in the document are the author’s own and do not necessarily reflect the views of Institute of Microfinance (InM). The report also does not represent the official stand of the Government of the countries studied. 2 | State of Microfinance in Bangladesh List of Acronyms ADB ASA BBS BDT BEES BIDS BKB BMDA BRAC BRDB BSBL CARB CBO CBN CDF CFPR CIDA COSOP CPD DANIDA DFID DOL DOF EC FSP FSS FY GB GDP GOB HCP HIES IBBL IFAD IGA IGVGD InM JC LGED ME MFMSP Asian Development Bank Bangladeshi NGO (formerly Association for Social Advancement) Bangladesh Bureau of Statistics Bangladesh Taka Bangladesh Extension Education Services Bangladesh Institute of Development Studies Bangladesh Krishi Bank Barind Multi-Purpose Development Authority Building Resources Across Communities (Largest NGO) [Formerly Bangladesh Rural Advancement Committee] Bangladesh Rural Development Board Bangladesh Sanchya Bank Limited Center for Agricultural Research-Barind (a Bangladeshi MFI) Community Based Organization Cost-of-basic-needs Credit and Development Forum Challenging the Frontiers of Poverty Reduction Programme Canadian International Development Agency Country Strategic Opportunities Paper (of IFAD) Centre for Policy Dialogue Danish International...
Words: 67541 - Pages: 271
...microcredit on poor people 15 10. Economic condition of Bangladesh 17 11. Microcredit in Bangladesh 19 12. Challenges of microcredit 22 13. Conclusion 23 14. Reference 24 15. Appendices 25 The most important finding in the last two decades in the world of finance did not come from the world of the rich or the relatively well-off. More important than the hedge fund or the liquid-yield option note was the finding that the poor can save, can borrow (can indeed decide on loans to fellow poor), and will certainly repay loans. This is the world of microfinance. The interest in microcredit or microfinance has burgeoned during the last two decades: multilateral lending agencies, bilateral donor agencies, developing and developed country governments, and non-government organizations (NGOs) all support the development of microcredit. A variety of private banking institutions has also joined this group in recent years. As a result, microcredit services have grown rapidly during the last decade, although from an initial low level, and have come to the forefront of development discussions concerning poverty reduction. World over, microcredit has proved to be an important tool to reach the poorest people. It is the social mandate and the holistic development...
Words: 5173 - Pages: 21
...been under my supervision and is now ready for submission with my approval. Sign: ……………………………………… Date: …………………………………. Mr. Ambrose Eger Supervisor DEDICATION To the memory of my late grandfather Daniel Egyeyu Whose love & enthusiasm for academia first kindled mine? ACKNOWLEDGEMENT Achievement often sets off a chain reaction. Those who earn awards in various disciplines in their careers inspire us in turn to strive and excel with hard work and deeds of succession. That has been true of the process of writing this dissertation I am grateful for the motivation of Geoffrey Epolu at guluuniversity@AR.com whose question, “Do you want to graduate?” first got me started. Paul Onyango Delewa, lecturer at Gulu University, read the first script and encouraged me to go on with the dissertation. Ambrose Eger as he had always done before, made sure that what I researched communicated my intended requisites for the topic of study-he is so good at that, as if he could read my mind. My wife calls this the “Dissertation written in the middle of the night” Thank you Maureen, for putting up with my dissertation fulfillment task requirement habit. Those cups of coffee you brought me first thing in the morning really helped to make up for the lost sleep. If after presenting this...
Words: 10447 - Pages: 42
