Introduction Banking can be defined as the business activity of accepting and safeguarding money owned by other individuals and entities‚ and then lending out this money in order to earn a profit. However‚ with the passage of time‚ the activities covered by banking business have widened and now various other services are also offered by banks. The banking services these days include issuance of debit and credit cards‚ providing safe custody of valuable items‚ lockers‚ ATM services and online
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INTRODUCTION TO ISLAMIC BANKING The term Islamic banking refers to a banking activity or a system of banking that is in consonance with the basic principles of Islamic Shariah (rules and values set by Islam). Islamic banking is also known as interest free banking system as the Shariah disallows the acceptance of “Riba” or interest rate for the accepting and lending of money. In Islamic banking system‚ a business that offers good interest rates or services is strictly prohibited and it
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in Nigeria “Nigeria’s oil production reached 2.1 million barrels per day in 2010.” Nigeria is currently the sixth largest crude oil producer and it is the top oil producer in Africa. Similar to Bougainville Island‚ Nigeria is being exploited by many western countries and their multinational corporations because of their rich natural resource. Oil wasn’t the first thing that was exploited in Nigeria; in 1471 Portuguese traders landed near the Niger Delta‚ the southern tip of Nigeria‚ and
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The economy of Nigeria is a middle income‚ mixed economy emerging market with well-developed financial‚ legal‚ communications‚ transport‚ and entertainment sectors. It is ranked 31st in the world in terms of GDP (PPP) as of 2009‚ and its emergent‚ though currently underperforming manufacturing sector is the second-largest on the continent‚ producing a large proportion of goods and services for the West African region. Previously hindered by years of mismanagement‚ economic reforms of the past
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2011 Industry - Banking Board Memorandum To : Board of Directors Executive Management Subject : Recommendations to promote the independence of the Compliance Function Date : 29th August‚ 2011 In reviewing last year regulator’ report on our bank‚ the bank have been imposed more than fifteen major violations from the regulators and some of the violations have got the bank into paying a huge amount of penalties. When penalties imposed the reputation of the bank will
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Introduction Green Banking is no more new concept in today`s world. The concept of Green is to minimize environmental degradation and making this planet habitable and it’s being used in banking sector which is presently known as Green Banking. The concept of Green Banking was developed in the western countries. Green Banking is a general term‚ which can cover a multitude of areas from a bank being environmentally friendly to how and also where their money is invested. Green Banking refers and emphases
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TAXATION AND FISCAL REGULATIONS IN NIGERIA INTRODUCTION The Nigerian Tax System has undergone significant changes in recent times. The Tax Laws are being reviewed with the aim of repelling obsolete provisions and simplifying the main ones. Under current Nigerian law‚ taxation is enforced by the 3 tiers of Government‚ i.e. Federal‚ State‚ and Local Government with each having its sphere clearly spelt out in the Taxes and Levies (approved list for Collection) Decree‚ 1998. Of importance at this juncture
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LITERATURE REVIEW 6 2.1. Online Banking 6 2.2. History of Online Banking 6 2.3. General Statistics 7 1. INTRODUCTION 1.1. Background Information Jumuia Bank is a renowned bank in Kenya which has over 46 branches nationwide in Kenya. Its headquarters is located in Nairobi in Hurlingham‚ Lenana Road‚ Jumuia house‚ third floor. In each province‚ there at least 5 branches‚ so its network is quite large and well spread. As at the close of 2008‚ Jumuia Bank had a staff establishment of 2‚000
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1. Introduction 1 2. Executive Summary 1 3. Trends in Retail Banking 2 4. About the Internet 2 5. Virtual Banking and Applications 3 5.01. Interactive Application 4 5.02. Smart Cards 4 6. Online Banking System Security 5 6.01. Cryptography 6 6.02. Firewalls and Routers 7 6.03. Trusted Operating Systems 7 7. Supervision and Regulations of Network Banking 8 8. Conclusion 12 9. References 14 Introduction The
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Koskosas I. THE PROS AND CONS OF INTERNET BANKING: A SHORT REVIEW THE PROS AND CONS OF INTERNET BANKING: A SHORT REVIEW Ioannis KOSKOSAS University of Western Macedonia‚ Kozani‚ Greece ioanniskoskosas@yahoo.com Volume 1 Issue 1 / December 2011 Business Excellence and Management Abstract Bank fees often strike fear in the heart of the average banking customer. According to a survey by Bank-rate‚ a company that reports on banks and banking‚ customers continue to get smashed with higher fees‚ ranging
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