Tag Archives: times

Banking

The changes in Online Banking in recent times

One way online banks have changed over the years is what has occurred at the Bank of New York Mellon establishment. It was announced yesterday that the CEO Robert P. Kelly was stepping down because there was a “difference in approach to managing the company”.

There was a time not to far distant in the past where a CEO was the driving force behind a company. The CEO was the leader and their vision is what set the path for a firm to follow. Mr. Kelley has seen this financial giant grow over his tenor to becoming the 6th largest bank in America. The second quarter profits for this bank was up 12% in the second quarter so profitability under his watch was better than most companies in the nation.

The revenues for that same time period were up 15% or $ 3.85 billion. This was better than what was predicted by the experts. The assets under the custody and administration of Bank of New York Mellon grew by 21% and reached a level of $ 26.3 billion by the end of June 2011. Furthermore the investment fees charged by the BNY Mellon were up 27% to reach a new level of $ 1.8 billion.

While it was true that some of the smaller components of this bank did not grow but they also did not lose money. Even with that the announcement of a dividend is to be paid of $ 0.13 per share on August 9, 2011 would lead one to think there was not a problem at the bank.

For investing your money with an Online Banking service to handle yourpersonal bank accounts, BNY Mellon seems like a sound financial institution to be a part of. Their bank rates are competitive so why change leadership when the bank is making a profit while the rest of the nation has still to recover from the last recession.

The only explanation that comes to mind is power and greed by other board members. So the financial sector of the world is really still the same. I wonder what Alexander Hamilton would think of this.

We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.

For additional resources involving financial help, please view PNC Online Banking, best bank savings rates,Bank Rates, Westpac Online Banking and Online Banks at http://onlinebanksblog.weebly.com

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Banking

Islamic Banking in Modern Times

Islam is a religion which encompasses the entire life its adherents. The source of all laws regulating the Islamic way of life flows from the Quran and Shariah. That includes the business and commercial aspects of the Islamic community. In fact, Mecca and Medina, the two most sacred places of Islam had always been flourishing centers of trade. The banking as we know it today d id not exist then. It is a western institution which came into being after the industrial revolution in Europe. Certain elements of modern banking did exist at time when Islam was revolutionizing the Arab region. Interest is central element of modern banking which is prohibited in Islam. It is known as Riba(interest) the acceptance and payment of which is considered un-Islamic. These principles did well as the economy at the time was prosperous.

The Islamic banking grew out of the need of the Muslims to evolve a  system of finance which while fulfilling all the needs of the business and people yet remains within the principles of Shariah. It came into being during the late 20th century. During last three decades, a large number of Islamic banks have come in all parts of the world catering to the financing needs of the Muslims. Though the name is a bit of misnomer as the Islamic banking is not exclusively for Muslims. It is same as conventional banking  but functions in accordance with the injunctions of the Shariah and Quran.

During the colonial times, the Muslims came in contact with the western banking institutions. The Muslims faced a banking system which was value-neutral. They had a choice to accept this or evolve a Shariah-compliant banking  institution. There was debate going on in 19th century amongst the scholars of Islam whether interest(Riba) referred to loans for consumption or those undertaken for commercial purposes. Such proposals were rejected as the does not distinguish between different kinds of loans.

In the sixties, the Islamic Economists started working on devising ways of establishing commercial banking compliant with Shariah principles. Such an experiment was successful in rural Egypt which functioned on zero-interest policy operating three types of accounts,i.e.,saving accounts, Zakat accounts and investment accounts. the project was later terminated but had shown Islamic banking can become reality.

The oil boom and oil price rationalization during seventies gave further fillip to the establishment of modern Islamic banking. Islamic banking is based on the principle of Mudarabah(Islamic Way, Profit-Loss-Sharing). It also stipulates another rule no reward without risk-bearing. Mudarabahah can be best illustrated by the example of two persons one of whom has got the capital and the other has the managerial and entrepreneurial skills. They join hands pooling their respective resources and agreeing to share profit and bear loss in accordance with the contract they signed before starting the enterprise. So the depositors take a percentage of profit the bank generates from their capital whereas the entrepreneurs shares the profits generated from the capital of the bank.

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Finance

finance times and business

In these severe finance times individuals are looking to spend less wherever they can. Let’s face it pay goes up are little & in fact many individuals have had pay reduces & plenty more depend themselves fortunate to still be employed. Therefore the only way to get more sales is to preserve on what you are already investing.

Utility expenses for homes are just like a companies set expenditures in that they are finance costs that must be paid, however if you can create benefits you improve your “bottom line” i.e. revenue. So in the case of personal clients you can improve the sales by keeping on your set expenditures.
 
Application services through online finance assignment help
 
Saving on programs however is not as simple as it should be, many application services have numerous “plans” that you can be on, all with different charges, such as; Conventional Amount, On the internet Short-cut, On the internet Strategy, Short-cut 50, Fixed Contract price etc. In my view power organizations intentionally mix up customers who then end up remaining on the same repayment intend to preserve on the problem of transferring. This implies that many individuals are shelling out too much for their programs. They got is trying to power the big application services to create their costs clear and understandable, for example from Apr 2011 all services had to provide yearly uses on gas & utility costs, this was to help you to evaluate expenditures with other services. They are now trying to get these same services to cut down on the number of charges available to cut misunderstandings for clients.
 
Steps to Making Savings with finance assignment help
 
So how do you create sure you are not shelling out too much? The first step is to get in touch with your present company & ask them if they have any “saver tariffs” that you could change to which would mean you would be shelling out less. In an ideal world your company would get in touch with you & counsel you of these “special rates” & so compensate you for being a devoted customer; however I very much doubt that this will ever happen. Just to provide you an example I did a price evaluation examine on gas & power today using one of the big services, in comparison to their standard tariff if I moved to one of their “special rate” promotions I would affect 17% off my bill! Do you think that this organization is going to provide me a contact & recommend that I should switch?
Price evaluation website with finance
 
In the above example I used a price evaluation website to evaluate what I’m currently shelling out against what I could be shelling out. It is very important that when you do an evaluation examine that you use your real utilization results & not simply your postcode & present company. If you don’t use the real results ( keep in mind above I recommended that all services must now show these on your costs, if they don’t band them & ask ) then you are not getting a true evaluation & you could end up transferring to a company under the wrong impact that you are going to spend less.
 
Finance evaluation website and finance assignment help
 
Just a caution about price evaluation websites, these websites are associates of the application suppliers; this indicates that if you use their website & click through to a company & indication up for their services then the owner of the evaluation website will obtain a commission payment. If you do not change your company the evaluation website will not earn any cash, for this reason create sure that you use more than one evaluation website & see if they counsel you to change to the same company.
Another tip is, once you obtain guidance to change to a new company, provide your current company a contact to tell them you have found a rate plan & can they go with or defeat it.
 
In the guidance above I have mainly been discussing gas & power services, drinking water is not de-regulated yet so you are trapped with the same company, however if you are a low person of water then get a gauge fixed & this will preserve you a lot of cash.
 
Telecommunications & Broadband with finance assignment help
 
For telephony such as internet there are the same misunderstandings around as that experienced with gas & power provide. There are plenty of organizations providing a number of promotions for “cheap broadband” “free calls” ” super fast downloads” etc A lot of the services use what is known as “confusion marketing” where they offer gratify promotions to attract you in but then have a number of contract & add-ons to totally mix up you. There is no quick fix here at the moment, generally you have to decide what you are looking for i.e. the quickest internet or totally free getting in touch with 24/7 & then read all the little of all of the present provides. Understand that when an organization provides internet at £x per month you have to add range lease to that to be able to get the all inclusive costs.
 
Then you have to consider how much information you obtain per month & whether this will be provided in the price. Next you have to consider how many getting in touch with you create per month & how much this is currently priced at you. Make sure what “free calls” actually indicates, is there a restrict, are 0870 numbers provided, what about the price for getting in touch with mobiles? Very often to be able to obtain these “free calls” there is a per month price, so the getting in touch with are not actually “free”.
 
As most individuals take cell phone & internet as a “package” in common there is a simple way to decided what you want, taking speed out of the situation, if you only use the world wide web to look at the web, examine messages & do the temporary obtain then you should go for a program with a to cap it utilization rate which will be the most affordable option. You will probably get night time & few days getting in touch with tossed in with these provides, so unless you are around a lot during the day then this will be fine.
If you are a hefty web surfer, or have kids!, then go for the endless information provides, that way you don’t run the risk of getting a large costs because one of your children left an activity running overnight!
 
If you create plenty of getting in touch with from your residential then it is a good idea to go for a program that contains endless getting in touch with 24/7. Some services will even offer you this no price. Consider that these totally free getting in touch with do not include getting in touch with to cell phones, there is only one organization I know of that allows totally free getting in touch with from land lines to cell phones. For getting in touch with to cell phones it is always best to use your totally free minutes from your mobile company.

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