cash on the premises. Furthermore‚ credit cards increase sales as well. However‚ the retailer has to pay a 4 per cent fee to the credit card company and handle more administration work. Debit cards Debit cards are similar to credit cards. The big difference is that debit cards take money from the bank account and therefore‚ offer the same convenience as credit cards without borrowing any money. Direct Debits Another way of cashless settlements is the direct debit system. The creditor is authorized
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Deadline: 8/04/2011 Assignment: Banking: An Ethical Dilemma? Introduction In this report‚ I plan to discuss the question Banking: An Ethical Dilemma? Within this is I will discuss ethical dilemmas in association with banking. I will firstly start by giving definitions of what is meant by the terms: Banking‚ Ethics‚ and Dilemma. From here‚ I will go on to identify what banks are and what the roles and importance are for the economy. Next‚ I will go on to explain banking operations and with this identification
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Interest Free Banking - Its advantages and disadvantages; and recommendations. Interest free banking is something outrageous‚ if viewed at first instance. Why? Because the very term of interest free banking signifies its true nature and function – banking that dispenses with any usury or interest‚ leaving the debtor at ease and the creditor with no flow of wealth. Zero. None. Free. Nil. No interest whatsoever. The normal workingmen may see this as promising. However‚ is it an absolute white area
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ROLE OF ICT IN BANKING Technology is no longer being used simply as a means for automating processes. Instead it is being used as a revolutionary means of delivering services to customers. The adoption of technology has led to the following benefits: greater productivity‚ profitability‚ and efficiency; faster service and customer satisfaction; convenience and flexibility; 24x7 operations; and space and cost savings (Sivakumaran‚ 2005). Harrison Jr.‚ chairman and chief executive officer of Chase
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Banking system in China 4 major banks: the Bank of China‚ the China Construction Bank‚ the Industrial and Commercial Bank of China and the Agricultural Bank of China. The People’s Bank of China (PBOC) is China’s central bank‚ which formulates and implements monetary policy. The PBOC maintains the banking sector’s payment‚ clearing and settlement systems‚ and manages official foreign exchange and gold reserves. It oversees the State Administration of Foreign Exchange (SAFE) for setting foreign-exchange
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SME Banking in Bangladesh. OVERVIEW OF SME: ---------------- According to the European Union (2003) SMEs are defined as enterprises which have at most 250 employees and an annual turnover not exceeding 50 million Euros. According to the World Bank (2006) medium enterprises are defined as enterprises which have at most 300 employees and an annual turnover not exceeding 15 million US dollars. In the context of Bangladesh‚ the development of Small and Medium Enterprises (SMEs) can be considered
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The banking industry is the backbone of any monetized economy. The stage of development of this industry is a good reflection of the development of the economy. The banking industry in India is governed by Banking Regulation Act of India‚ 1949. Since 1949‚ this sector has undergone phenomenal reforms due to the efforts and the vision of the policymakers. The first phase of reform began with nationalization of the 14 banks in 1969. At this stage‚ priority sectors were identified and banking support
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MSc(Econ) International Economics‚ Banking‚ and Finance Principles of Money & Banking Lecture Notes 1 The Definition of Money The definition of anything follows one of two procedures 1) Attach labels to real world objects – Nominalist (2) Attach labels concepts and then search for the corresponding real world entity - Empiricist Characteristics of Money 1) Medium of Exchange 2) Unit of Account 3) Store of Value Money has two meanings. As an abstract notion it is
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Banking Industry Meltdown: The Ethical and Financial Risks of Derivatives Steven Young Strayer University Dr. Mary Tranquillo Business Ethics: Ethical Decision Making and Cases November 29‚ 2012 Determine which moral philosophy (as discussed in chapter 6) is most applicable to an understanding of the banking industry meltdown Moral philosophy in business is hard to classify‚ especially in today’s economic times where there are government bailouts‚ loss of paying jobs‚ home foreclosures
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Recent trends in banking technology: 1. Convergence of Mobile and Online Technologies - Mobile banking started as an innovation‚ something only techies and first adopters felt comfortable using it. But as smartphones have skyrocketed in popularity over the past few years‚ mobile banking adoption has increased along with it. As banks continue to search for efficiencies and consolidate operations‚ the convergence of mobile and online technologies looks to be a prime opportunity to do so. 2
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