Financial Risk Manager

Ways of Financial and Risk Management

UK: Country outlook

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posted @ 11:44 AM, ,

Plan Your Next Trade Show

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Trade Show, Conventions, Corporate Events and Conferences are great sources for reaching out and promotion. Efficiently and nicely done, Trade Shows go a long way to the success of any concern. Normally trade show exhibits use to take message of the organizations to the higher level.

Given my own interest I was looking for table covers and table top displays online, I came across a wonderful resource that offers every thing required for any exhibit booth. I was amazed to see the collection and whatever else is featured there. Best thing is that their prices are very competitive. Wide range of event table covers comes in a variety of shapes and colors. They can be customized as per your own requirement and used anywhere. Table top displays come in panel systems, pop ups, banner stands and more.

I suggest that all those who are planning their participation in upcoming trade shows must have a look at what they are offering and how particularly directors chairs which are made of hardwood usually and have been used in the film industry for many years. Best thing is that trade shows usually use them for seating because logos can be silk screened onto them.

posted @ 3:11 PM, ,

Islamic Banking - Brief Introduction

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Over the last three decades Islamic banking and finance has developed into a full-fledged system and discipline reportedly growing at the rate of 15 percent per annum. Today, Islamic financial institutions, in one form or the other, are working in about 75 countries of the world. Besides individual financial institutions operating in many countries, efforts have been underway to implement Islamic banking on a country wide and comprehensive basis in a number of countries. The instruments used by them, both on assets and liabilities sides, have developed significantly and therefore, they are also participating in the money and capital market transactions. In Malaysia, Bahrain, Pakistan and a few other countries of the Gulf, Islamic banks and financial institutions are working as a system parallel with the conventional system.

Owing to the growing amount of capital availability with Islamic banks, the refining of Islamic financing techniques and the huge requirement of infrastructure development in Muslim countries there has been a large number of project finance deals in the recent past particularly in the Middle East region. Islamic banks now participate in a wide financing domain stretching from simple Shariah-compliant retail products to highly complex structured finance and large-scale project lending. These projects include power stations, water plants, roads, bridges and other infrastructure projects. Bahrain is the leading centre for Islamic finance in the Middle East region. The establishment of the Prudential Information and Regulatory Framework for Islamic Banks (PIRI) by the BMA in conjunction with AAOIFI has gone a long way towards establishing a legal and regulatory framework to meet the specific risks inherent in Islamic financing structures.

Islamic Banking - Definition:

Islamic banking has been defined as banking in consonance with the ethos and value system of Islam and governed, in addition to the conventional good governance and risk management rules, by the principles laid down by Islamic Shariah.

Interest free banking is a narrow concept denoting a number of banking instruments or operations, which avoid interest. Islamic banking, the more general term is expected not only to avoid interest-based transactions, prohibited in the Islamic Shariah, but also to avoid unethical practices and participate actively in achieving the goals and objectives of an Islamic economy.

Philosophy of Islamic banking and finance:

Islamic Shariah prohibits ‘interest’ but it does not prohibit all gains on capital. It is only the increase stipulated or sought over the principal of a loan or debt that is prohibited. Islamic principles simply require that performance of capital should also be considered while rewarding the capital. The prohibition of a risk free return and permission of trading, as enshrined in the Verse 2:275 of the Holy Quran, makes the financial activities in an Islamic set-up real asset-backed with ability to cause ‘value addition’.

Islamic banking system is based on risk-sharing, owning and handling of physical goods, involvement in the process of trading, leasing and construction contracts using various Islamic modes of finance. As such, Islamic banks deal with asset management for the purpose of income generation. They will have to prudently handle the unique risks involved in management of assets by adherence to best practices of corporate governance. Once the banks have stable stream of Halal income, depositors will also receive stable and Halal income.

The forms of businesses allowed by Islam at the time the Holy Quran was revealed included joint ventures based on sharing of risks & profits and provision of services through trading, both cash and credit, and leasing activities. In the Verse II:275, Allah the Almighty did not deny the apparent similarity between trade profit in credit sale and Riba in loaning, but resolutely informed that Allah has permitted trade and prohibited Riba.

Profit has been recognized as ‘reward’ for (use of) capital and Islam permits gainful deployment of surplus resources for enhancement of their value. However, along with the entitlement of profit, the liability of risk of loss on capital rests with the capital itself; no other factor can be made to bear the burden of the risk of loss. Financial transactions, in order to be permissible, should be associated with goods, services or benefits. At macro level, this feature of Islamic finance can be helpful in creating better discipline in conduct of fiscal and monetary policies.

History of Islamic Banking in Pakistan:

Steps for Islamization of banking and financial system of Pakistan were started in 1977-78. Pakistan was among the three countries in the world that had been trying to implement interest free banking at comprehensive/national level. But as it was a mammoth task, the switchover plan was implemented in phases. The Islamization measures included the elimination of interest from the operations of specialized financial institutions including HBFC, ICP and NIT in July 1979 and that of the commercial banks during January 1981 to June 1985. The legal framework of Pakistan's financial and corporate system was amended on June 26, 1980 to permit issuance of a new interest-free instrument of corporate financing named Participation Term Certificate (PTC). An Ordinance was promulgated to allow the establishment of Mudaraba companies and floatation of Mudaraba certificates for raising risk based capital. Amendments were also made in the Banking Companies Ordinance, 1962 (The BCO, 1962) and related laws to include provision of bank finance through PLS, mark-up in prices, leasing and hire purchase.

Accordingly, the State Bank issued detailed criteria in December 2001 for establishment of full-fledged Islamic commercial banks in the private sector. Al Meezan Investment Bank received the first Islamic commercial banking license from SBP in January 2002 and the Meezan Bank Limited (MBL) commenced full-fledged commercial banking operation from March 20, 2002. Further, all formalities relating to the acquisition of Societe Generale, Pakistan by the MBL were completed, and by June, 2002 it had a network of 5 branches all over the country, three in Karachi, one in Islamabad and one in Lahore. The MBL now maintains a long term rating of A+ and short term rating of A1+, assessed by JCR VIS Credit Rating Co Ltd, signifying a consistent satisfactory performance.

The Government as also the State Bank are mainly concerned with stability and efficiency of the banking system and safeguarding the interests, particularly, of small depositors. With this concern in mind it has been decided to operate Islamic banking side by side with traditional banking. The approach is to institute best practice legal, regulatory and accounting frameworks to support Islamic banks and investors alike. The year 2002-2003 witnessed strengthening measures taken in the areas of banking, non-bank financial companies and the capital markets.

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posted @ 10:22 AM, ,

Banner Stand

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Banners are very common and trendy these days. Have a look around and you can find almost road and corner is full of banners with some attention catching message, slogan and or even an advertisement printed on it. This trend has given birth to banners printing concerns. The types of image found on banners have ranged from comic or saucy cartoons to art reproductions and chromolithographed views; however photographs in one form or another have made up a large proportion of the total.

I hope every one especially those who are engaged in business activities are very much aware of the importance of banner stand because it is one of the perfect ways to promote your message. They are light weight, easy to transport, and come in many sizes. However, we need to find such concern which is currently providing this sort of product at an extremely low price as compared to other companies. The banner stand should have a standard quality, the printing should be outstanding, and their after sale service should be second to none.

In my opinion banners should have some features including high quality at lower price, canvas art framing, retraceable banner stands, fully laminated and many more. So hurry up and find who can give you all features you are looking for in this respect.

posted @ 2:32 PM, ,

Finance Outlook of Norway

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Norway has a small but highly developed financial sector. Both businesses and individuals will continue to have access to a wide range of equities, bonds, derivatives and other financing vehicles. Some of the main features of its economy are as follows;


posted @ 1:13 PM, ,

Veterans Loans

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Most of the People including military veterans and the men and women who are currently serving in the military have confronted with sever economic crisis in near past. Current ongoing economic turmoil has really affected every one. They amid into debt problems and some have to pay their credit cards bills, installment of mortgage, premium of refinanced loans,etc. Considering this situation, there are many companies emerged in the market to provide solutions of debt related problems. They are claiming to help people through understanding the positives and negatives of debt related problems and providing alternative solutions including VA mortgage, loan eligibility, home loan purchase and loan refinancing.

Presently, economies all over the world are very sluggish and going for common people is getting tougher every day. What you do when as a homeowner you are “facing foreclosure due to missed payments and are at risk of defaulting on loans or you are keeping up with their mortgage payments alright but can't refinance with your lender because the value of your home has fallen below the amount of the mortgage? It is possible and you can modify your mortgage and keep your home: For this you need to understand new VA Loan Refinance plan ortgage rescue plan for home owners.

Homeowners who want to start Home Loan Modification process must first understand the rescue plan and see how it can help. It is a littler complicated process but if you qualify, you can do it. I suggest you consult experts on the subject and make an informed financial decision. Especially, if you are a disabled veteran, you may be entitled to more benefits to get VA Loans for Disabled Veterans. VA loans have many valuable features that are not available on other types of home loans, including 100% financing, easy credit guidelines and low payments.

posted @ 12:34 PM, ,

Khyber Pakhtoonkhwa

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The Parliamentary Committee on Constitution Reforms on Wednesday night signed the draft of constitution package on 18th Amendment Bill with consensus, resolving the issue of

Now it has been proposed that the new name of NWFP would be Khyber-Pakhtoonkhwa

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posted @ 10:10 AM, ,

Light Within

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