online banking

Electronic bill payment

2009-03-12T00:18:00.000-07:00

Electronic bill payment is a feature of online banking, similar in its effect to a giro, allowing a depositor to send money from his demand account to a creditor or vendor such as a public utility or a department store to be credited against a specific account. The payment is optimally executed electronically in real time, though some financial institutions or payment services will wait until the next business day to send out the payment. The bank can usually also generate and mail a paper cheque or banker's draft to a creditor who is not set up to receive electronic payments.

Electronic billing can also feature invoices sent by e-mail or viewed on a secure web site (with notices of new invoices being sent by e-mail).

Most large banks also offer various convenience features with their electronic bill payment systems, such as the ability to schedule payments in advance to be made on a specified date, the ability to manage payments from any computer with a web browser, and various options for searching one's recent payment history: when did I last pay Company X? To whom did I make my most recent payment? In many cases one can also integrate the electronic payment data with accounting or personal finance software.

Peer-to-peer payment systems are extremely popular. The best and most widely known example is PayPal. PayPal allows you to pay for just about anything online as long as the seller also has a PayPal account. Many online sellers use PayPal such as 75% of eBay sellers, overstock.com, ritzcamera.com, and Walgreens.com (Traver, 2004).[citation needed] PayPal is also sometimes used to pay for personal debts in situations where both parties have an account.

Electronic bill payment and presentment (EBPP) includes an electronic bill payment system (EBPS). Electronic bill payment and presentment is “the electronic bill presentment to the consumer and the electronic initiation of payment by the consumer” (Alexandria Andreeff). This was done completely by postal mail before the internet. Sending bills electronically via the internet is much faster and cheaper though. Although this technology was available before December in 1998, only 26.2% of U.S. households had internet access at that time according to the U.S. Department of Commerce in 2000 (Alexandria Andreeff). By August 2000, electronic bill payment and presentment systems started to dramatically increase in popularity because 41.5% of U.S. households had internet access by then according to the U.S. Department of Commerce in 2000 (Alexandria Andreeff). In this model, the one who is charging the consumer, notifies the customer (usually) through e-mail (Alexandria Andreeff). The customer is then responsible to log on to the biller’s website to pay the bill (Alexandria Andreeff).

Embed Card System

2009-03-12T00:16:00.002-07:00

The Embed Card System is a total operating solution for Family Entertainment Centers (FEC). Replacing tokens and currency, the Embed Card System allows for cashless operation of vending, redemption and video games by using a swipe card to deduct value for each game played. This system also provides admission control for any FEC attractions (e.g., Mini Golf, Go Karts, Laser Tag, etc.) by providing the guest a card to swipe on a reader (see Color-Glo swiper information below). If the FEC plans to have retail, food or beverage sales, the Embed Card System can be used as a stand-alone Point of Sale system, or integrated to work with other Point of Sale systems such as Micros and Aloha. Fully customizable and touch-screen driven, the Embed Point of Sale system allows for sales of play cards, admissions, food and beverage, package sales, retail merchandise, and party/group reservations. A valuable benefit of the system is the ability to create detailed reports which allow for in-depth and comprehensive marketing planning, as well as monitoring staff usage and activity.

With a card system, the FEC guests are encouraged to “Load and Go”; load a value onto a magnetic stripe card and go to any game or attraction and swipe to play. When a guest swipes their card, their value balance is checked, then a play on a game or admission to an attraction is issued. Games issue redemption tickets straight to the card instead of using paper tickets, eliminating the use of ticket counter machines. The guest is encouraged to keep the card for future use; all cash and ticket values are stored in the system and accessed via the swipe card. Cards that are lost can be reissued with the same credit as when it was reported lost.

Debit card systems, such as the Embed Card System, allow operators to offer differential pricing for regular customers, timed-play sessions, and VIP programs that promote repeat visits.

Embed International

2009-03-12T00:16:00.001-07:00

Embed International is a supplier and manufacturer of debit card systems including management applications for the amusement, leisure and retail industries. The Embed Card System is now used throughout the world at over 350 operating locations in 18 countries including Australia and the United States. Embed was started by and maintains close ties to the Leisure and Allied Industries Group (LAI). LAI builds amusement machines and operates centers throughout Asia, Australia and New Zealand.

Embed operates out of offices in Perth (Australia), Dallas (USA), and Dubai (UAE). Embed currently employs approximately 35 people worldwide. Their tasks include designing the Embed Card System hardware, writing the Embed Card System software application, installing the system at customer sites and providing customer support.

Eurocheque

2009-03-12T00:14:00.000-07:00

The Eurocheque was a type of cheque used in Europe that was accepted across national borders and which could be written in a variety of currencies.

Eurocheques were originally introduced in 1969 as an alternative to the traveler's cheque and for international payments for goods and services. They were rapidly adopted for domestic use in a number of countries, to the extent that their use for international payment rarely accounted for more than 5% of total Eurocheque transactions. The charges for clearing Eurocheques were substantially lower than those for cross-border use of domestic cheques.

Although still accepted as payment by a few bodies, the practice of issuing Eurocheques ceased on 1 January 2002, following the decision to withdraw the Eurocheque guarantee. This was, coincidentally, the same date that the euro currency was introduced. Despite the similarity of name, the Eurocheque had no connection with the currency.

Eurocheques were particularly popular in German-speaking countries, where they were often issued as standard domestic cheques. They usually had to be accompanied by a cheque guarantee card in order to be accepted in payment at a point of sale. The Eurocheque guarantee card also had the functionality of an ATM card. In some countries, such as Austria and Germany, virtually all Eurocheque cards were co-branded with the logo of the respective domestic debit card system and were actually debit cards. After its phase-out, virtually all of these Eurocheque cards were replaced by Maestro cards. Therefore, Maestro is very often considered to be the successor to the Eurocheque system.

The decision to end the issuing of Eurocheques was taken as increasing numbers of retailers and banks started to decline payment by Eurocheque, and as the use of cash machines and credit cards by international travellers grew within Europe. The relatively high cost of processing Eurocheques, together with the costs resulting from fraud, were also among the factors. In advance of the move, the European Commission expressed concern that "the benefits of the existing eurocheque system, in particular its standardised cheque format and its clearing facilities in all European countries should not be lost.

Carte Bleue

2009-03-12T00:12:00.000-07:00

Carte Bleue ("Blue Card") is a major debit card payment scheme operating in France. The system has now been integrated into a wider scheme called CB or Carte bancaire ("banking card"). All Carte Bleue cards are part of CB, but not all CB cards are Carte Bleue.

The system is national, and pure Carte Bleue cards do not operate outside of France. However, it is possible and commonplace to get Carte Bleue VISA card that operates outside of France. Carte Bleue, properly said, is the local affiliate of VISA. Some cards also double with the electronic cash system Moneo.

Carte Bleue started in 1967, associating six French banks (BNP, CCF, Crédit du Nord, CIC, Crédit Lyonnais, and Société Générale. Combined Visa cards exist since 1973 under the name Carte Bleue Internationale, changing to Carte Bleue Visa in 1976[1]).

From 1992 on, all Cartes Bleues / CB have been smart cards. When one uses a Carte Bleue at a French merchant, one has to type the PIN of the card, and a microchip on the card verifies and authenticates the transaction. Only some very limited transactions, such as small autoroute tolls, are paid without PIN. Since automatic teller machines also check for the PIN, this measure strongly reduces the incentive to steal Cartes Bleues, since the cards are essentially useless without the PIN (though one may try using the card number for mail-order or e-retailing). Foreign cards without microchips can still be used at French merchants, with the usual procedure of swiping the magnetic stripe and signing the receipt.

In 2003, the Cartes Bleues / CB started to move on to the international standard EMV for smart chips. They may thus be used in British smart card readers.

A minority of Cartes Bleues are credit cards tied to credit lines.

Interac

2009-03-12T00:11:00.000-07:00

Interac Association is a Canadian organization linking enterprises that have proprietary networks so that they may communicate with each other for the purpose of exchanging electronic financial transactions. The Association was founded in 1984 as a cooperative venture between five financial institutions: Royal Bank of Canada, CIBC, Scotiabank, Toronto-Dominion Bank, and Desjardins.

By 2005, there were over 80 member organizations and there were over 51,000 Automated Banking Machines that can be accessed through the Interac network. In Canada, the word Interac is often used as a synonym for debit card.

Solo (debit card)

2009-03-12T00:10:00.000-07:00

Solo is a debit card in the United Kingdom. It is a sister to the Maestro debit card. Solo was launched in 1997 for use on deposit accounts, as well as by customers who do not qualify for a Switch (now Maestro) card on current accounts.

Solo is issued as a multifunction cash card by NatWest and The Royal Bank of Scotland to customers over the age of 11 and by HSBC Bank (formerly Midland Bank) to customers over the age of 13. Like its main rival, Visa Electron, Solo cards require all transactions receive electronic authorisation from the issuing bank. Such authorisation will not be given if there are insufficient cleared funds in the cardholder's account. Upon successful authorization, the funds are either immediately transferred or placed on hold for later transfer.

Acceptance is not as widespread as Maestro, but has increased substantially in recent years. Solo cards usually function as Maestro for use abroad.

Solo cards are linked to the Switch processing system (now re-branded as Maestro); however, some merchants differentiate between Solo and Switch through their numbering scheme to prevent under 18s from purchasing online. Due to their availability to minors, they can be used as a simple age-vetting mechanism; for example, when online grocers Ocado accepted Solo, they refused to sell razor blades or alcoholic beverages to those paying with the card (the service no longer explicitly accepts Solo, however it does not check for Solo card numbers if Switch is selected as the payment method).

Solo cards are also issued to people with a bad credit history to reduce the liability for the issuing bank.

Switch (debit card)

2009-03-12T00:09:00.000-07:00

Switch is a former debit card in the United Kingdom, now re-branded as Maestro. It was a sister to the Solo debit card.

Switch was launched in 1988 by Midland Bank, National Westminster Bank and the Royal Bank of Scotland as a multifunction cheque guarantee and cash card. The brand was merged with Maestro, an international debit card brand owned by MasterCard Worldwide, in 2002. This merger has been referred to as the "penguin wedding," with distinctive advertisements of penguins in different international settings created by Joel Veitch.

The merger was also intended to increase the acceptance of foreign Maestro cards in the UK. However, despite the Maestro brand name, transactions in the UK are still processed by Switch Card Services Limited. Consequently many retailers who advertise that they accept Maestro can only accept UK-issued cards, i.e. former Switch cards. This situation can cause some confusion for visitors to the UK who may have their Maestro cards declined at the point of sale.

Switch/Maestro cards issued by certain banks, notably the HSBC group, carry an issue number on the bottom of the card corresponding to the number of times a card has been issued on a particular account. This is usually because the current account number the card is linked to actually forms a large part of the card number, and therefore the card number cannot be readily changed in case of loss or the card expiring.

MasterCard

2009-03-12T00:08:00.001-07:00

MasterCard Worldwide (NYSE: MA) is a multinational corporation based in Purchase, New York, United States. Throughout the world, its principal business is to process payments between the banks of merchants and the banks of purchasers that use its "MasterCard" brand debit and credit cards to make purchases. MasterCard Worldwide has been a publicly traded company since 2006. Prior to its initial public offering, MasterCard Worldwide was a membership organization owned by the 25,000+ financial institutions that issue its card.

It was originally created in 1966 by United California Bank (later First Interstate Bank and subsequently merged into Wells Fargo Bank), Wells Fargo, Crocker National Bank (also subsequently merged into Wells Fargo), and the Bank of California (subsequently merged into the Union Bank of California) as a competitor to the BankAmericard issued by Bank of America, which is now the VISA credit card and issued by Visa Inc.

Visa Inc.

2009-03-12T00:07:00.000-07:00

Visa Inc. (NYSE: V), commonly referred to as VISA (Visa International Service Association), is a multinational corporation based in San Francisco, California, USA. The company operates the world's largest retail electronic payment network, managing payments among financial institutions, merchants, consumers, businesses and government entities. Before Visa Inc's IPO in early 2008, it was operated as a cooperative of some 21,000 financial institutions that issued and marketed Visa products including credit and debit cards.

In 2006, according to The Nielson Report, Visa held 44% of the credit card market share and 48% of the debit card market share in the United States.

Credit or Debit?

2009-03-12T00:05:00.000-07:00

For consumers, the difference between a "debit card" and a "credit card" is that the debit card deducts the balance from a deposit account, like a checking account, whereas the credit card allows the consumer to spend money on credit to the issuing bank. In other words, a debit card uses the money you have and a credit card uses the money you don't have.

In some countries: When a merchant asks "credit or debit?" the answer determines whether they will use a merchant account affiliated with one or more traditional credit card associations (Visa, MasterCard, Discover, or American Express) or an interbank network typically used for debit and ATM cards, like Plus, Pulse, Cirrus, or Maestro.

In other countries: When a merchant asks "credit or debit?" the answer determines whether the transaction will be handled as a credit transaction or as a debit transaction. In the former case, the merchant is more likely than in the latter case to have to pay a fee defined by fixed percentage to the merchant's bank. In both cases, the merchant may have to pay a fixed amount to the bank. In either case, the transaction will go through a major credit/debit network (such as Visa, MasterCard, Visa Electron or Maestro). In either case, the transaction may be conducted in either online or offline mode, although the card issuing bank may choose to block transactions made in offline mode. This is always the case with Visa Electron transactions, usually the case with Maestro transactions and rarely the case with Visa or MasterCard transactions.

In yet other countries: A merchant will only ask for "credit or debit?" if the card is a combined credit+debit card. If the payee chooses "credit", the credit balance will be debited the amount of the purchase; if the payee chooses "debit", the bank account balance will be debited the amount of the purchase.

This may be confusing because "debit cards" which are linked directly to a checking account are sometimes dual-purpose, so that they can be used seamlessly in place of a credit card, and can be charged by merchants using the traditional credit networks. There are also "pre-paid credit cards" which act like a debit card but can only be charged using the traditional "credit" networks. The card itself does not necessarily indicate whether it is connected to an existing pile of money, or merely represents a promise to pay later.

In some countries: The "debit" networks typically require that purchases be made in person and that a personal identification number be supplied. The "credit" networks allow cards to be charged with only a signature, and/or picture ID.

In other countries: Identification typically requires the entering of a personal identification number or signing a piece of paper. This is regardless of whether the card network in use mostly is used for credit transactions or for debit transactions. In the event of an offline transaction (regardless of whether the offline transaction is a credit transaction or a debit transaction), identification using a PIN is impossible, so only signatures on pieces of paper work.

In some countries: Consumer protections also vary, depending on the network used. Visa and MasterCard, for instance, prohibit minimum and maximum purchase sizes, surcharges, and arbitrary security procedures on the part of merchants. Merchants are usually charged higher transaction fees for credit transactions, since debit network transactions are less likely to be fraudulent. This may lead them to "steer" customers to debit transactions. Consumers disputing charges may find it easier to do so with a credit card, since the money will not immediately leave their control. Fraudulent charges on a debit card can also cause problems with a checking account because the money is withdrawn immediately and may thus result in an overdraft or bounced checks. In some cases debit card-issuing banks will promptly refund any disputed charges until the matter can be settled, and in some jurisdictions the consumer liability for unauthorized charges is the same for both debit and credit cards.

In other countries: In India and Sweden, the consumer protection is the same regardless of the network used. Some banks set minimum and maximum purchase sizes, mostly for online-only cards. However, this has nothing to do with the card networks, but rather with the bank's judgement of the person's age and credit records. Any fees that the customers have to pay to the bank are the same regardless of whether the transaction is conducted as a credit or as a debit transaction, so there is no advantage for the customers to choose one transaction mode over another. Shops may add surcharges to the price of the goods or services in accordance with laws allowing them to do so. Banks consider the purchases as having been made at the moment when the card was swiped, regardless of when the purchase settlement was made. Regardless of which transaction type was used, the purchase may result in an overdraft because the money is considered to have left the account at the moment of the card swiping.

Debit card

2009-03-12T00:02:00.000-07:00

A debit card (also known as a bank card or check card) is a plastic card which provides an alternative payment method to cash when making purchases. Functionally, it can be called an electronic check, as the funds are withdrawn directly from either the bank account (often referred to as a check card), or from the remaining balance on the card. In some cases, the cards are designed exclusively for use on the Internet, and so there is no physical card.

The use of debit cards has become widespread in many countries and has overtaken the cheque, and in some instances cash transactions by volume. Like credit cards, debit cards are used widely for telephone and Internet purchases.

Debit cards can also allow for instant withdrawal of cash, acting as the ATM card for withdrawing cash and as a cheque guarantee card. Merchants can also offer "cashback"/"cashout" facilities to customers, where a customer can withdraw cash along with their purchase.

Interbank network

2009-03-12T00:01:00.000-07:00

An interbank network, also known as an ATM consortium or ATM network, is a computer network that connects the ATMs of different banks and permits these ATMs to interact with the ATM cards of non-native banks.

While interbank networks provide capabilities for all ATM cards within the same network to use other banks' ATMs that belong to the same network, the services vary. For instance, when a person uses their ATM card at an ATM that does not belong to their bank, the basic services, such as balance inquiries and withdrawals, are usually available. However, special services, such as the purchase of mobile phone airtime, are usually not accessible to ATM cardholders of banks other than the ATM cardholders of the acquirer (the bank that owns the ATM). Furthermore, many banks will charge a fee to users of cards that do not come from their own bank (in addition to any fees imposed by the bank of the card the person is using).

Interbank networks are convenient because people can access the ATMs of other banks who are members of the network when their own bank's ATM is unavailable. Such is especially convenient for travelers traveling abroad, where multinational interbank networks, like PLUS or Cirrus, are usually available.

Interbank networks also, through different means, permit the use of ATM cards at a point of sale through the use of a special EFTPOS terminal where ATM cards are treated as debit cards.

Building society

2009-03-11T23:59:00.000-07:00

A building society is a financial institution, owned by its members, that offers banking and other financial services, especially mortgage lending.

The term building society first arose in the 19th century, in the United Kingdom, from co-operative savings groups: by pooling savings, usually in terminating deposits, members could buy or build their own homes.

In the UK today building societies actively compete with banks for most banking services, especially mortgage lending and deposit accounts. At the start of 2008, there were 59 building societies in the UK (listed below) with total assets exceeding £360 billion. Every building society in the UK is a member of the Building Societies Association. The number of societies in the UK has declined by a tenth during 2008 due to a series of mergers brought about, to a large extent, by the consequences of the financial crisis of 2007-2008.

Credit union

2009-03-11T23:57:00.000-07:00

A credit union is a cooperative financial institution that is owned and controlled by its members, and operated for the purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members. Many credit unions exist to further community development or sustainable international development on a local level. Worldwide, credit union systems vary significantly in terms of total system assets and average institution asset size since credit unions exist in a wide range of sizes, ranging from volunteer operations with a handful of members to institutions with several billion dollars in assets and hundreds of thousands of members. Yet credit unions are typically smaller than banks; for example, the average U.S. credit union has $93 million in assets, while the average U.S. bank has $1.53 billion, as of 2007.

The World Council of Credit Unions (WOCCU) defines credit unions as "not-for-profit cooperative institutions. In practice however, legal arrangements vary by jurisdiction. For example in Canada credit unions are regulated as for-profit institutions, and view their mandate as earning a reasonable profit to enhance services to members and ensure stable growth. This difference in viewpoints reflects credit unions' unusual organizational structure, which attempts to solve the principal-agent problem by ensuring that the owners and the users of the institution are the same people. In any case, credit unions generally cannot accept donations and must be able to prosper in a competitive market economy.

ATM card

2009-03-11T23:56:00.000-07:00

An ATM card (also known as a bank card, client card, key card or cash card) is an ISO 7810 card issued by a bank, credit union or building society.

It can be used:

at an ATM for deposits, withdrawals, account information, and other types of transactions, often through interbank networks
Some ATM cards can also be used:

at a branch, as identification for in-person transactions
at merchants, for EFTPOS (point of sale) purchases
Unlike a debit card, in-store purchases or refunds with an ATM card can generally be made in person only, as they require authentication through a personal identification number or PIN. In other words, ATM cards cannot be used at merchants that only accept credit cards.

However, other types of transactions through telephone or online banking may be performed with an ATM card without in-person authentication. This includes account balance inquiries, electronic bill payments or in some cases, online purchases (see Interac Online).

In some countries, the two functions of ATM cards and debit cards are combined into a single card called a debit card or also commonly called a bank card. These are able to perform banking tasks at ATM's and also make point-of-sale transactions, both functions using a PIN. Canada's Interac and Europe's Maestro are examples of networks that link bank accounts with point-of-sale equipment.

Magnetic stripe cloning can be detected by the implementation of magnetic card reader heads and firmware that can read a signature embedded in all magnetic stripes during the card production process. This signature known as a "MagnaPrint" or "BluPrint" can be used in conjunction with common two factor authentication schemes utilized in ATM, debit/retail point-of-sale and prepaid card applications.

ATM Cleaning Cards are the primary means of cleaning ATM machines to ensure that the machine stays functioning properly.

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2009-03-02T23:43:00.000-08:00

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Insurance products and services are offered through licensed insurance agency affiliates of Answer Financial® Inc., Insurance Answer Center,® Inc. (California License No. 0B99714), Answer Center Insurance Agency, Inc. and through other affiliates, depending on the state or insurance service chosen. Products and services may vary by state and are not available in all states.
Renters Insurance is underwritten by Balboa Insurance Company (Meritplan Insurance Company in CA and LA).
Products and services described above may vary by state and are not available in all states. Insurance is offered through HSBC Insurance Agency (USA) Inc., a wholly owned subsidiary of HSBC Bank USA, National Association and an indirectly wholly owned affiliate of HSBC Holdings plc. This website is not intended for use by consumers outside of the United States.
This hyperlink allows you to access a non-HSBC website. HSBC Bank USA, N.A. has no control over the linked website and is not liable for your use of it. Please read the terms & conditions, security and privacy policy of the linked website, which may differ from the terms & conditions, security and privacy policy of HSBC Bank USA, N.A.

State Bank OF Pakistan

2008-05-03T02:48:00.000-07:00

Mission Statement :

To mainstream the agriculture and rural finance sector in the country’s financial system as a commercially viable and attractive business line and to catalyze growth and activity in the sector through sector friendly policies.

Vision Statement:

To transform ACD into a professional and dynamic Rural Finance Support Department, fully equipped to play a leading role in development of a sound, stable and robust agriculture and rural finance sector in the Country.

About Us:

Agricultural Credit Department established under Section 8(3) of SBP Act 1956 and headed by a Director, is working within the overall charge of ED/Advisor on Development Finance. The Department is mainly responsible to meet credit needs of agriculture, being mainstay of Pakistan’s economy, generates nearly one fourth of the total out put and 42% of total employment and is a major source of foreign exchange earnings. The other functions of the department are as under:-
1. To operate as a focal point in SBP for all agriculture and rural finance policies, programs and projects.2. To assess/estimate the credit needs of farm & non farm sector in rural areas.3. To review the issues/challenges faced, developments taking place in agriculture/ rural finance both in the country and elsewhere, develop an adequate knowledge/ information base for policy formulation, etc.4. To formulate agri & rural finance policies in consultation with stakeholders and to ensure adequate flow of institutional credit in rural areas.5. To monitor growth and trends in agri/rural finance portfolio of banks & financial institutions.6. To collect periodical agri/rural finance data for analysis, policy formulation and dissemination to general public.7. To advise Federal and Provincial Governments, Banks, Cooperative Banks & Agriculture Chambers on agri & rural finance issues.8. To initiate and undertake information dissemination and awareness building programs for farmers and special training programs for commercial banks.9. To build SBP rural and agriculture finance capacity and.10. To operate as Secretariat for Agriculture Credit Advisory Committee (ACAC).

Agriculture Credit Estimation & Target Monitoring Division:

1. Agriculture credit estimation/assessment in consultation with stakeholders; 2. Allocation of indicative agri credit targets to banks; 3. Periodical monitoring of agriculture credit targets; 4. To undertake all functions relating to Agriculture Credit Advisory Committee (ACAC); 5. Follow-up for implementation of ACAC decisions; 6. Sanction of SBP credit line to Punjab Provincial Cooperative Bank Ltd. and its monitoring; 7. Managing Credit lines outstanding against Zarai Taraqiati Bank Ltd.; 8. Sharing of bonafide losses with five big commercial banks; 9. Collection of periodical agri finance data from banks and its dissemination on website and media.

Banking Inspection Department:

Banking Inspection Department (BID) is one of the core departments at SBP. Its mission is to strive for soundness & stability of the financial system and safeguard interest of stakeholders through proactive inspection, compatible with best international practices.
BID plays a pivotal role in meeting SBP’s main responsibility of supervising the financial institutions to maintain soundness of the system and protection of the interest of depositors, thereby ensuring public confidence in the system. In order to assess a financial institution, BID conducts regular on-site inspection of all scheduled banks inclusive of the foreign banks & DFIs. The present supervisory structure at the department is institution focused whereby concerned Desk In-charges (Senior Joint Directors, Joint Directors & Junior Joint Directors) have been assigned specific institutions for effective monitoring through on-site examination, off-site reports from Banking Supervision Department and various market reports.
The regular on-site inspection is conducted on the basis of CAMELS Framework. (Capital, Asset Quality, Management, Earnings, Liquidity, Sensitivity and System & Controls). CAMELS is an effective rating system for evaluating the soundness of financial institutions on a uniform basis and for identifying these institutions requiring special attention or concern. Here the focus of inspection is generally on risk assessment policies & procedures of the banks and control environment to keep attached risks within acceptable limits and compliance with laws, regulations and supervisory directives. In continuation of the inspection process, discussions are held with external auditors to review banks’ internal controls, compliance with legislation & prudential standards and adequacy of provisions. Here it would be important to mention that BID works in close coordination with Off-Site Surveillance Desk at Banking Supervision Department and other departments in SBP.
BID conducts the regular full scope examination of banks pursuant to an inspection schedule; however, flexibility exists in policy for frequency of inspections depending upon the need to maintain safety & soundness. CAMELS rating is a criteria to determine the frequency of inspection of banks as weak institutions are given greater attention. Special investigations (targeted inspections) are also conducted as and when circumstances so warrant on the basis of complaints or market reports about specific institution.Examiners document their assessment of the overall risks posed by each bank in the inspection work papers and summarize their inspection findings in the form of inspection reports. In formulating this assessment, examiners consider all available sources of information including, but not limited to: findings, scope and recency of previous inspections, ongoing monitoring efforts of off site surveillance desks, information received through pre-inspection letters or other communications, regulatory reports and published financial information, reports of internal and external auditors.
Beside the regular inspection report, BID also prepares statutory reports under Section 25-AA of the Banking Companies Ordinance 1962 for banks regarding written-off loans, mark-up and other dues, or financial relief through rescheduling & restructuring of loans, on yearly basis and is submitted to Federal Government. Additionally, BID also submits a Quarterly Report to Federal Government under section 40A of Banking Companies Ordinance 1962 giving shortcomings and violations on the part of banking company’s management. BID also conducts inspection of exchange houses under regulation No 32 formulated under Clause (ii) of subsection 3AA of Foreign Exchange Regulation Act 1947.

Our Vision:

To transform Banking Surveillance Department into a highly professional and dynamic department fully equipped to proactively and effectively supervise the banking system.

Our Mission:

To promote soundness and stability of the Banking System through proactive and effective supervision.

Introduction:

Health of an economy depends on the degree of safety and stability of its banking and financial system. A sound, stable and robust banking and financial system is a pre-requisite for economic well being of a country and its populace. In Pakistan, ensuring the stability and soundness of the banking system is a statutory responsibility of State Bank of Pakistan. The banking supervision departments viz. Banking Policy and Regulations Department (BP&RD), Banking Surveillance Department (BSD), Off-Site Supervision and Enforcement Department (OSSED) and Banking Inspection Department (BID) have been assigned this important function to work jointly and severally to ensure the soundness of individual banks and of overall banking industry. The Banking Surveillance Department is responsible to supervise financial institutions in the country. The department ensures effective adherence to regulatory and supervisory policies, monitors risk profiles, evaluate operating performance of individual banks/DFIs and the industry as a whole while issuing guidelines for managing various types of risks. It also ensures that banks are adequately capitalized and have policies and systems in place to assess various risks. The department is also responsible for the implementation of the Basel II Accord in Pakistan. The function and activities of Credit Information Bureau (CIB) also falls within the domain of Banking Surveillance Department. The CIB collect credit data, under section 25A of the Banking Companies Ordinance 1962, maintain its database and disseminate credit information to financial institutions online to facilitate their credit appraisal process. The main objectives/key result areas of the Department are;

Bank of England

2008-04-17T04:11:00.000-07:00

News ReleaseBank of England Reduces Bank Rate by 0.25 Percentage Points to 5.0%

The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.25 percentage points to 5.0%.
CPI inflation rose to 2.5% in February. The Committee expects inflation to rise further this year, reflecting the continuing impact of higher energy and food prices, as well as the recent depreciation of sterling on import costs. Such pressures are already evident in producer input costs and pricing intentions.
Even if commodity prices remain at their current high levels, inflation should fall back. But to ensure that inflation meets the 2% target in the medium term, the Committee needs to balance two risks. On the upside, above-target inflation this year could raise inflation expectations so that, in the absence of some margin of spare capacity, inflation would remain above the target. On the downside, the disruption in financial markets could lead to a slowdown in the economy that was sufficiently sharp to pull inflation below the target.
In the Committee’s judgement, the balance of these risks to the inflation outlook in the medium term justifies a cut in Bank Rate this month. Credit conditions have tightened and the availability of credit appears to be worsening. While the recent depreciation in sterling will support net exports, the prospects for output growth abroad have deteriorated. In the United Kingdom, business surveys suggest that growth has begun to moderate and that a margin of spare capacity will emerge during this year. This should help to keep domestic inflationary pressures in check in the medium term.
Against that background, the Committee judged that a reduction in Bank Rate of 0.25 percentage points to 5.0% was necessary to meet the 2% target for CPI inflation in the medium term.

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Inflation Report

The Inflation Report sets out the detailed economic analysis and inflation projections on which the Bank's Monetary Policy Committee bases its interest rate decisions, and presents an assessment of the prospects for UK inflation over the following two years.

Overview of the Inflation ReportFebruary 2008

The disruption to global financial and credit markets continued. Current and expected policy rates fell. Sterling depreciated substantially. In the United Kingdom, output growth moderated to around its long-term historical average rate. Consumer spending growth appeared to soften and the climate for investment deteriorated. International prospects worsened, especially in the United States. Under the assumption that Bank Rate falls in line with market yields, the Committee's central projection is for output growth to slow markedly this year and then gradually start to recover. The risks to growth are weighted to the downside.
CPI inflation was close to the 2% target in December. Pay growth was steady. But some measures of inflation expectations rose. In the central projection, higher energy, food and import prices push inflation up sharply in the near term. Inflation then drops back to a little above the 2% target in the medium term, as the temporary boost from higher energy prices disappears and capacity pressures moderate. The risks to inflation are balanced. The combination of slow growth and above-target inflation poses substantial challenges for policy.

Financial markets

Global financial markets have been febrile since the November Report, and are vulnerable to further shocks. Equity prices declined, reflecting the deterioration in the economic outlook. The market for securitised debt remained virtually closed. Although conditions in money markets improved somewhat, term interest rates remained well above expected policy rates, reflecting heightened concerns about creditworthiness.
Against that background, UK banks tightened the terms offered on new loans to households and businesses. And the potential deterioration in banks' capital ratios as off balance sheet loans are re-intermediated may further restrain new lending. But it is difficult to judge the eventual impact on demand, particularly since falling asset prices could interact with banks' capital requirements and borrowers' collateral limits to amplify the contraction in spending.
Market participants' expectations of the near-term path of policy rates fell. The MPC cut Bank Rate by 0.25 percentage points to 5.5% at its December meeting. Market participants expected Bank Rate to fall to around 4.5% during 2008.
The sterling effective exchange rate depreciated by 6%, the largest three-monthly fall since the exit from the ERM. Market concerns about the size of the UK current account deficit - the highest relative to GDP in the G7- may have been a factor.

Domestic demand

Consumers' expenditure rose strongly in the third quarter. But there are signs that household spending growth has since moderated, perhaps reflecting earlier increases in Bank Rate and heightened uncertainty about the outlook. Residential property prices stagnated and indicators of housing activity weakened further. Tighter credit conditions, the desire to rebuild savings and a squeeze on real income growth are likely to check spending growth.
Business investment rebounded in Q3. But investment intentions eased towards the year end. The weaker and more uncertain outlook for demand, reduced access to external finance and falling commercial property prices are all likely to weigh on capital spending over the coming year.
Government spending continued to make a moderate contribution to overall demand growth. According to the fiscal plans set out in October's Pre-Budget Report, the public sector's contribution to nominal demand growth is set to decline over the forecast period.

Overseas trade

International economic prospects have deteriorated since the November Report. In the United States, GDP growth fell sharply, the labour market weakened and the weakness in the housing market appeared to be spreading to other parts of the economy. As a result, the Federal Reserve reduced official interest rates substantially. In the euro area, business surveys pointed to some softening in output growth from its recent firm pace. In contrast, the emerging market economies of Asia continued to expand robustly.
Overall, the Committee expects a modest slowing in the growth of the main UK export markets, though by somewhat more than in November. That is offset by the depreciation of sterling, which can be expected to boost UK competitiveness. Consequently net trade is expected to add to GDP growth over the next few years, contrary to the experience over much of the past decade.

The outlook for GDP growth

GDP growth moderated to 0.6% in Q4 according to the ONS's preliminary estimate, with the slowdown concentrated in the financial and retail sectors. Business surveys and reports from the Bank's regional Agents point to a further modest deceleration in activity in early 2008.
Chart 1 shows the Committee's best collective judgement for four-quarter GDP growth, assuming that Bank Rate follows the declining path implied by market yields. The fan also extends into the past, reflecting the present uncertainty about the final estimates of GDP. In the central projection, output growth slows markedly through 2008 as tighter credit conditions and weaker real income growth bear down on domestic demand. Growth then starts to recover, as credit conditions improve and the effects of lower interest rates and weaker sterling work through. The projected slowdown is somewhat deeper and more prolonged than in the November Report.

Costs and prices

CPI inflation remained close to target in December, at 2.1%. Higher prices for energy, food and imports are set to push up inflation again in the near term. The extent to which consumer prices increase will depend on whether businesses and retailers can pass on higher input costs. Suppliers of domestic energy have already announced large retail tariff increases. And survey measures of businesses' pricing intentions remain elevated, suggesting that many businesses intend to pass on cost increases. But there are indications that retailers have been accepting lower profit margins in order to maintain sales volumes. Were this to continue, it would attenuate the pass-through into prices paid by consumers.
Private sector pay growth was relatively muted last year. There are few pay settlements for 2008 available so far, but according to a survey of contacts of the Bank's regional Agents, companies expect awards to be similar to those in 2007. Measures of labour market tightness based on official data have changed little over the past few months, although survey measures point to some easing.
A central question is whether the episode of above-target CPI inflation during 2006-07 and the prospective repeat this year will prompt a sustained rise in inflation expectations, with a risk of heightened inflationary pressures in the medium term. Survey measures of household inflation expectations have risen over the past year or so. Measures derived from financial market instruments also rose, though that may reflect factors specific to the index-linked gilts market.

The outlook for inflation

Chart 2 shows the Committee's best collective judgement of the outlook for CPI inflation, assuming that Bank Rate falls in line with market yields. In the central projection, higher energy, food and import prices push inflation up sharply in the near term. Inflation then eases back to a little above the 2% target in the medium term, as the near-term rise in energy prices drops out of the twelve-month rate and capacity pressures moderate. The profile is higher than in the November Report, particularly in the near term. A similar projection, which assumes that interest rates remain constant at 5.25% (Chart 3), shows the central projection for inflation settling below the target in the medium term.

The policy decision

At its February meeting, the Committee noted that the immediate prospect was for a combination of above-target inflation and sluggish output growth. The Committee also noted that slower demand growth, by reducing the pressure on capacity, was likely to be necessary to return inflation to the target in the medium term. Under market interest rates, the central projection for inflation was a little above the target in the medium term, while under constant interest rates, it was below the target. There were particular uncertainties relating to the severity of the tightening in credit conditions and the future path of inflation expectations. The key challenge for policy was to balance these conflicting risks. The Committee judged that a reduction of 0.25 percentage points in Bank Rate to 5.25% at its February meeting was necessary to meet the target for CPI inflation over the medium term.

Auto Loan

2008-04-16T06:26:00.000-07:00

What we do

Bankrate, Inc. is the Web's leading aggregator of financial rate information. Bankrate's rate data research offering is unique in its depth and breadth. Bankrate continually surveys approximately 4,800 financial institutions in all 50 states in order to provide clear, objective, and unbiased rates to consumers. Our flagship Web site, Bankrate.com, provides free rate information to consumers on more than 300 financial products, including mortgages, credit cards, new and used automobile loans, money market accounts, certificates of deposit, checking and ATM fees, home equity loans and online banking fees.
In addition to rate data, we publish original and objective personal finance stories to help consumers make informed financial decisions. Our staff of award winning reporters and editors provides expert advice on just about every major financial decision facing our readers: from purchasing their first home, to selecting a new car, to saving for retirement. Bankrate's unparalled combination of comprehensive rate information and original financial content is what makes us unique and such a valuable resource to our audience.
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Thomas R. Evans President and CEO

Thomas R. Evans became President and CEO of Bankrate in June of 2004, after having been elected to the board a month earlier in May 2004. From 1999 to 2002, Mr. Evans was Chairman and CEO of Official Payments, an internet processor of payment to government entities which he took public and subsequently was acquired by Tier Technologies. From 1998 to 1999, Mr. Evans was president and CEO of the internet company GeoCities, which he took public and was acquired by Yahoo!. Prior to that, Mr. Evans was a 20 year veteran of the magazine publishing business, his last post being the President and Publisher of U.S. News & World Report, Fast Company and the Atlantic Monthly Magazines.

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Robert J. DeFranco joined Bankrate in March of 1999. He served as the Company's Chief Financial Officer from October 2000 thru March 2006. From 1986 to 1999, he held various positions in corporate accounting and finance for companies including Ryder System, Inc., Southeast Banking Corporation, SunTrust Banks, Inc. and Ocwen Financial Corporation. His experience includes all aspects of corporate accounting and finance and internal and external financial reporting - including SEC reporting, mergers and acquisitions (analysis, integration and accounting), corporate re-engineering, budgeting and forecasting. A Certified Public Accountant and a member of the American Institute of Certified Public Accountants, Mr. DeFranco was part of the commercial audit division of Arthur Andersen & Co., Miami, Fl., from 1978 to 1986.

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Steven L. Horowitz has served as Senior Vice President, Product and Business Development since May 2005. Steve joined Bankrate as Vice President and Publisher in October of 2004. Prior to that, he spent two years (2002 to 2004) at America Online (Time Warner), most recently as Vice President eCommerce Classifieds. From 1998 to 2002, he held Director and Senior Manager positions with Yahoo! and GeoCities, Inc. (a community/web publishing destination acquired by Yahoo! in 1999) specializing in business and sales strategy for their classifieds and local properties. Additionally, Steve served as Associate Director of Internet Marketing for BMG Music Club at BMG Direct, Bertelsmann (1998), Director of Internet Venues at a start-up entertainment website (1996 to 1997) and Online Publicist for Tuner Entertainment Group at Tuner Broadcasting Systems, Inc. (1995 to 1996).

Michael J. RicciardelliSenior Vice President, Consumer Marketing

Michael Ricciardelli was appointed Senior Vice President, Consumer Marketing after joining Bankrate in September 2006. Prior to joining Bankrate, he was Vice President - Marketing & Media Sales at Apartments.com/Classified Ventures where he managed all marketing functions and online advertising sales efforts. From 1999 to 2003, he was Co-Founder & Vice President of Strategic Development for Insurance.com - venture funded by Fidelity Capital and sold in 2003 to Comparison Market. Earlier in his career, Mr. Ricciardelli also held positions in strategy consulting and business development at Fidelity Investments, and financial analysis at Salomon Brothers.

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Donaldson M. Ross joined Bankrate in September 2006. Prior to joining Bankrate, Mr. Ross was Senior Vice President - Sales & Marketing for Harris Connect the foremost leader in affinity marketing for the directory, internet and data services business in the education and association market place. Earlier in his career, Mr. Ross held an executive management position at zUniversity.com. Mr. Ross also worked at U. S. News & World Report in various media sales and sales management positions for 11 years where he rose to the position of Vice President of Advertising Sales.

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Ms. Varsell was appointed Senior Vice President, Publisher after joining Bankrate in May 2005. From 2003 to 2005, she served as iMedia Ad Sales Marketing Director for Discovery Communications overseeing 14 television networks. From 1999 to 2002, she served as Vice President, Design & Development for Official Payments Corp., specializing in processing consumer credit card payments for government taxes, fees and fines. From 1996 to 1999, she held various creative and development positions at Disney Internet Group including Creative Director of ABC.com, Oprah.com and Oscar.com where she was responsible for launching Oprah.com on the web and developing the first successful synch-to-broadcast event. Ms. Varsell holds a Bachelor of Arts degree with honors from Boston College and a Master Degree in Interactive Telecommunications from New York University Tisch School of the Arts.

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Bruce J. Zanca joined Bankrate in July of 2004. Previously, Mr. Zanca owned and operated his own communications consulting practice. Earlier in his career, he held the top communications and investor relations posts at both GeoCities, Inc. and Official Payments Corporation. He was a Vice President of corporate communications at U.S. News & World Report Magazine from 1995 to 1998. And, from 1981 through 1992, Mr. Zanca was a press aide in the Reagan and Bush administrations. There, he was a White House Spokesman and deputy to Marlin Fitzwater in the first Bush White House

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world bank at work

2008-04-13T23:22:00.000-07:00

Turkeys Development Results

Over the last four years, the number of Turkish girls in secondary school has increased, from 42% in 2001-02 to 51% in 2005-06. The time it takes to start a business has dropped from thirty-eight days in 2003 to nine days in 2006. 34,000 apartments were built to benefit victims left homeless after the Marmara earthquake. These are a few examples of how Turkey has made great strides in reducing poverty rates, improving health and education and strengthening the country’s macroeconomic underpinning. The World Bank has helped to contribute to these development successes by providing advice and resources and sharing experience gained through similar projects in other countries

The Economy

Turkey has been effective in its poverty reduction efforts, with the poverty rate of 27% in 2002 dropping to just under 18% in 2006. These numbers represent large parts of the population that are reaping the benefits that come with sustainable development, including improved health, better education, and the prospect of a better life for their children.

The Government’s aggressive reform efforts have led to consistent improvements in the country’s macroeconomic situation. Since 2001, the country has seen continued progress in its overall economic situation, including an average GDP growth of 7 % over the last five years and inflation reaching a historical low of 7.7 % in 2005 down from 55% in 2001.

Making Better Health a Priority

Turkey is seeing real improvements in the health sector, with a significant reduction in infant mortality, from 43 per 1,000 live births in 1998, to 24 per 1,000 live births in 2005 according to data released by the Ministry of Health. Further, the life expectancy at birth is now 72 years. These results stem from a number of initiatives and major ongoing reform efforts in the health sector.
Under the Health Transition Project and the Programmatic Public Sector Development Policy Program, the Government has made important steps towards the comprehensive reform of the health sector, including the introduction of Universal Health Insurance. The aim of Universal Health Insurance is to effectively provide health insurance coverage for all Turkish citizens, including the estimated 10 million people who currently are not covered by any insurance at all.
The previous system was highly fragmented, with certain hospitals only available to specific groups and high inequalities of care. The new system aims to make better health care available to all citizens and the Government is planning to subsidize the premium payments for Turkey's poor. The Government's comprehensive reform program also includes other important initiatives, including the introduction of family medicine for the provision of primary care services and granting more autonomy and responsibility to public hospitals to improve their efficiency and effectiveness in delivering health services to their patients.

Supporting sustainable natural resource management

Turkey is one of the most biologically diverse countries in the region. For example, around 1,200 of its 10,000 plant species are endemic to the country, and are found only in Turkey. In addition, over 100 Important Bird Areas have been identified in Turkey, largely wetlands providing nesting habitats and food sources for huge numbers of birds passing between Africa and Europe during their seasonal migrations. Yet despite Turkey’s rich biodiversity, there are few pristine areas left. The major challenge is to conserve the habitats that remain while more fully involving local communities in their management. Through the Biodiversity and Natural Resources Management Project, Government has been working with communities to develop and implement plans for managing 4 priority nature protection sites, and the lessons learned from these sites are being extended to another 9 protected areas across the country.
Government has been making headway with other efforts to protect the environment as well. Under the Anatolia Watershed Rehabilitation Project (AWRP), community-based microcatchment (MC) plans to protect degraded areas from further degradation, erosion and pollution, were prepared and implementation is currently underway in 76 villages. These will be the first of as many as 120 additional villages that will benefit from the project and will compliment similar efforts by other donors.

Moving Forward

Turkey is making progress in its development across a range of sectors, including modernization of the cadastre and land registry systems, increasing the efficiency of the energy sector and helping growing businesses get access to the capital they need to grow. The country as a whole is moving forward, and they are seeing results.

WHO CAN USE THE PUBLIC INFORMATION CENTER?

Public Information Centers are open to the public. No fee is required to use the PIC. Users can access information from the Internet and thousands of World Bank publications and other development related materials.

WHAT SERVICES ARE OFFERED?

Online access to World Bank project documents, reports, and publications.
Access to development and research sites on the Internet.
Access to a special collection of CDs and videotapes on development.
Access to development-related publications by international institutions, governments, and NGOs.
Access to an extensive cataloguing system that allows users to see the collection of around 80 World Bank PICs around the World

WHAT REPORTS AND DOCUMENTS ARE AVAILABLE?

Project Information Documents (PIDs). These are documents that give brief summaries of evolving projects. They are updated and expanded as the project preparation proceeds.
Project Appraisal Documents (PADs). These contain descriptions of a project and the plan for its implementation, including procurement procedures. They are made available to the public after presentation to the World Bank's Board.
Economic Sector Reports. These include macroeconomic analysis of Turkey's economy, analyses of major economic sectors and other reports on specific issues, such as poverty assessments, etc.
Environmental Assessments (EAs). EAs are detailed studies required for projects likely to have significant impact on the environment. Such studies are available before the final appraisal of the viability of the project.
Loan (or Development Credit) Agreements. These are records of loan amounts and terms and conditions on which the loan is made. They also record the borrower's general commitment to the project objectives. The agreements are made available to the public after the loan agreement is signed and declared effective or ready for disbursement.
Bidding and consultant documents. These provide guidelines for borrowers and their implementing agencies in the procurement of goods, works and consulting services.
UN Development Business. A United Nations publication that publishes general procurement notices for goods, works, and services to be procured through international competitive bidding for each Bank-financed project.

Information for Bidders and Consultants

The International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) provide average annual lending commitments for investment projects of US$10-US$15 billion a year. These funds are used by recipient countries to purchase goods and equipment, construct civil works, and obtain the consulting services needed to implement these projects. Each project may involve many separate contracts and business opportunities for suppliers, contractors, and consultants worldwide.When pursuing business opportunities in projects financed by the World Bank, it is essential to understand that the implementing agency in the recipient country is responsible for procurement. All contracts are between the borrower (usually the government department that is its implementing agency) and the supplier, contractor or consultant. The Bank’s role is to make sure that the borrower’s work is done properly, that the agreed procurement procedures are observed, and that the entire process is conducted with efficiency, fairness, transparency and impartiality.

The Development Gateway Market (dgMarket) is a global online marketplace providing information on donor and government-funded tenders. Currently, dgMarket publishes tender notices for projects funded by the African Development Bank, the Asian Development Bank, Europe Aid, European Bank for Reconstruction and Development, European Investment Bank, EU members states, Phare/Tacis, and the World Bank. For more information, contact: info@dgmarket.com.
The United Nations produces UN Development Business which provides information on business opportunities generated through the World Bank, regional development banks, and other development agencies. Development Business is available in either print format or by online subscription. For more information contact the Development Business Liaison Office at Tel: (202) 458-2397; Fax: (202) 522-3316 or E-mail: dbusiness@worldbank.org.

online banking 2008

2008-03-31T01:58:00.000-07:00

Migration and Remittances Factbook 2008

This contains statistical snapshots for 195 countries and 13 regional and income groups. The 200+ tables, each focused on one country, region, or income group, explore immigration, emigration and skilled emigration, and inward and outward remittance flows. Summary reports on the top 10 countries in each category are also included.

Financing Energy Efficiency

This book argues that weak economic institutions in developing and transitional economies impede the development and financing of energy efficiency retrofits, suggests a 3-part model for projectizing and financing energy efficiency retrofits, and presents thirteen case studies to illustrate the issues and principles involved.

Public Finance in China

Public Finance in China brings together analysis and insight from high-level Chinese policy-makers and prominent international scholars in addressing key challenges China is facing in maintaining rapid growth and achieving the Government's stated goal of creating a harmonious society.

Remittances and Development

This book explores the large heterogeneity in migration and remittances patterns, development impact, and policy implications across Latin America and the Caribbean, ranked at the top of remittance-receiving regions. Its analysis helps policy makers trying to respond to increasing remittances flows.

China Urbanizes

China Urbanizes discusses the consequences of urbanization in China and identifies the key strategies and policies for sustaining desired rates of urban development.

Africa's Future, Africa's Challenge

This book presents a balanced collection of articles written by African and non-African authors ranging from field practitioners to academicians, and compiles the latest data and viewpoints on the state of Sub-Saharan Africa's children.

Risk Analysis for Islamic Banks

This title provides a comprehensive overview of topics related to the assessment, analysis, and management of various types of risks in the field of Islamic ban

The Road Not Traveled

The Road Not Traveled explores why the past investments in education in the Middle East and North Africa region have not generated maximum returns and proposes a new approach to education reform focusing on incentives and public accountability.

UK online banking goes mainstream

More than a quarter (26 per cent) of UK bank account holders use online services but with little impact on the use of of branch-based services, says analyst Gartner.
And the use of internet banking is linked to higher use of other channels such as cash machines and telephone banking, according to the report.
"Adoption of e-banking is now taking place within the mainstream of consumers, among people who use new channels and services if, and only if, they see intrinsic value from the new technology," said Gartner financial services research director David Schehr.
"Online banking has clearly made this transition in consumer minds," he said.
Banks need to use the internet to improve customer communication and differentiate themselves from competitors, said Schehr.
"They should leverage this channel to serve their clients and strengthen relationships."