WHIZ KID, BANKY W, WANDE COAL, SEYI LAW, OTHERS, DAZZLE AT DIAMOND SWAG CONCERT

It was an all-star ensemble starring the likes of Whiz Kid, Banky W, Wande Coal, Sound Sultan and Harry Song. One of Nigeria’s finest disc jockeys, DJ Exclusive, was also on hand to dish out hit tracks from his wheels of steel. The event was the SWAG concert, sponsored by Diamond Bank PLC, to commemorate the end of the 24^th edition of the Nigerian University Games (NUGA).

Fast rising comedian, Seyi Law, ensured that there was no dull moment as he treated the audience to rib-cracking jokes. The students of the host university, ObafemiAwolowo University (OAU), were not left out as some of them were invited on stage to exhibit their artistry.

Thereafter, the main acts stepped on stage one after the other to perform to the delight of the audience,belting hit track after hit track. The audience swayed to the beats of the artistes, miming many of their songs, much to the elation of the artistes. Banky W, who was performing for the first time at OAU, hailed the crowd for the warm reception accorded him. Whiz Kid was so thrilled at the students’rendition of his songs that he exclaimed, “It seems I have a choir here!”

The SWAG concert, which was held at the institution’s Amphitheatre, was indeed a night of music, comedy and dance, laced with a huge dose of fun and excitement as the students savoured the performances of the artistes.

The concert was earlier declared open by Mr. Uzoma Dozie, Executive Director –Retail Banking, Diamond Bank Plc. He said: “This is not an evening for long speeches rather, we are here to relax and have fun. However, I would like to thank you all for embracing the Diamond SWAG (Students With A Goal) Account and for all the support we have received from the students of OAU in putting this event together. I have no doubt it’s going to be a night of pure fun, so please relax and enjoy the event”.

According to Mrs. Ayona Trimnel, Head of the Bank’s Corporate Communications Division, the concert was put together to help the students relax and unwind after 10 days of intense sporting activities at the NUGA tournament.

She said, “This is our little way of appreciating the youths who embraced our new proposition, the Diamond SWAG Account in their thousands while the Games lasted. We thought we should create this atmosphere of relaxation and fun to help them unwind after 10 days of intense sporting activities.”

The Student With A Goal (S.W.A.G) Account, which was launched during the just concluded games by Diamond Bank, is designed with the objective of providing Nigerian youths with the right support to help them achieve their financial goals.

 The NUGA games which kicked off on February, 12 was brought to a close on February 22, 2015.

HIGHLIGHTS OF THE 24TH NUGA GAMES

The ongoing Nigerian University Games Association (NUGA) competition has entered day 6 and the excitement continues to build up towards the closing ceremony scheduled for Saturday, 22 February 2015.

This year’s competition is proudly sponsored by leading retail bank, Diamond Bank PLC, and a musical concert is being planned to round off the tournament. Already billed to perform are Whiz Kid, Wande Coal, Banky W and Kcee.

To watch more videos from the 24^thNUGA games, kindly subscribe to Diamond Bank YouTube channel.

DIAMOND BANK INTRODUCES FINGERPRINT RECOGNITION TO ITS MOBILE APP

Leading retail bank, Diamond Bank Plc, has announced the launch of a fingerprint recognition feature on its Diamond Mobile App. The service, an iOS Touch ID, is a fingerprint reader that allows users of the Mobile App an easy and seamless login to their accounts by simply recognizing and identifying their individual fingerprints.    

Speaking on the new feature, Ayona Trimnell, Divisional Head, Corporate Communications of the Bank stated that the introduction of the unique feature will remove the burden of forgetting or having to remember the user ID and Password for accountholders to login for their respective business transactions.

“We are pleased to announce the launch of the Touch ID feature on the Diamond Mobile App. This means that Diamond Mobile App users that have iOS devices can now login to their accounts with just their finger prints as an alternative to entering a User ID and Password.”

Speaking further, she stated that with the “introduction of this innovative solution to the 
Nigerian banking space, Diamond Bank once again demonstrates its commitment to be at the forefront in offering technological solutions that make banking an exciting, convenient and secure experience for our customers.” 

The introduction of the Touch ID Feature on Diamond Mobile App marks the entrance of the service to the Nigerian banking scene. It also consolidates Diamond Bank’s position as an innovative Bank that is progressively changing the face of banking in Nigeria with best-in-class customer-focused solutions. 

The Touch ID feature on Diamond Mobile App is available on iPhone 5s, iPhone 6, iPhone 6 plus, iPad Air 2 and the iPad Mini 3. Other features on the Diamond Mobile App include funds transfer, bills payment, events ticket purchase, movie tickets purchase, online shopping wallet top-up as well as search, book and payment for both local and international flights. The service is currently available on Apple store and will soon be available on all other app stores.

- Ends –

MY HOPE, MY NIGERIA

MY HOPE, MY NIGERIA by Abdulrahman Jogbojogbo

The stressful day was telling on me, I noticed signs of puffiness under my eyes as I oiled my suku, wondering if Danjuma would still say: "Nkechi, you look beautiful" en route to Iwediran, the newspaper vendor.

At the vendor's, I argued with Effiong over Yaya Toure's football award, the cat and dog power tussle; his logic was good, but my jokes always win the arguments.

I came back home to eat amala, heated a stainless plate and ironed my blouse with it. I was going for my sixth job interview, but I smiled still, optimistic that this would be my breakthrough (This story was edited).

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DIAMOND BANK SPONSORS 24TH NUGA GAMES

L –R: Head, Consumer Propositions, Diamond Bank PLC, Olumide Akindele; hip hop musician, Wande Coal; Executive Director –Retail Banking, Diamond Bank PLC, Uzoma Dozie; hip hop musician, Whiz Kid; Head, Corporate Communications, Diamond Bank PLC, Ayona Trimnell; and R & B musician, Banky W during a courtesy visit by the musicians to the Bank as part of preparations for the Diamond SWAG concert holding on Saturday, 22 February 2015 at the Obafemi Awolowo University (OAU).

Diamond Bank Plc., Nigeria’s leading retail bank, will be the lead sponsor of the 24th edition of the Nigerian Universities Games Association (NUGA) competition.

The event, which will hold between February 12-22, 2015 at the prestigious Obafemi Awolowo University, Ile Ife, Osun State, will attract over 60 universities and 7,000 athletes that will feature in 15 different sports, includingTrack & Field, Badminton, Basketball, Chess, Cricket, Handball and Judo. Others are Hockey, Football, Swimming, Table tennis, Taekwondo, Tennis and Volleyball.

According to Mrs Ayona Trimnell, Head of Corporate Communications, Diamond Bank Plc, the bank’s support for the event is part of its sponsorship programmes targeted at supporting the dreams and aspirations of Nigerian youths.

She said: “As a responsible corporate citizen, we recognise the role competitive sports play in developing well-rounded youths. The NUGA Games provides that needed platform forsportsmanship and competitiveness, hence our decision to add it to our sponsorship portfolio to ensure that the youths get the best of the experience.”

In order to create better awareness for the Games beyond the vicinity of the host university, the bank has finalized plans for the airing of the daily highlights on: Supersport, CoolFM, Wazobia FM and Nigeria Info FM. The daily highlights will include news, interviews, results, side attractions, among others.

Trimnell added that the NUGA Games would also provide the bank a good platform to launchDiamond S.W.A.G., its newly designed product meant for the youth segment.

She said: “We have just developed a new product called the Diamond S.W.A.G. which we expect to create value for our young customers; to enable and empower them for the future. We see the NUGA fiesta as a good platform to launch this product and partner the students in building a secured future.”

Trimnell also informed that Diamond Bank has lined up a number of activities and side attractions to add to the fun and excitement of the event.

“The Bank is instituting a daily ‘NUGA Challenge’ at the Arena where interested students can come and ‘rep’ their respective universities”.  Also participants will stand a chance to win N50k or N100k in the DiamondXtra Special NUGA draw at the Diamond S.W.A.G. Concert, plus lots of exciting giveaways, including a VIP ticket to the Diamond SWAG Concert which will feature a mystery guest artiste on the 22nd of February 2015,” she added.

DIAMOND BANK EMPOWERS WOMEN ENTREPRENEURS WITH ICT TRAINING

Jude Anele, Head, Retail Banking, Diamond Bank Plc, addressing participants at the ICT Training for Women Entrepreneurs program, organized by Diamond Bank PLC, at the Enterprise Development Centre of the Pan Atlantic University in Lagos … Wednesday, February 5.

In a bid to support women entrepreneurs to run thriving businesses, Diamond Bank PLC, a leading player in the Nigerian Retail Banking space, has provided ICT training for women functioning within the Micro, Small and Medium Enterprise (MSME) sector.

At the two day program, which held at the Enterprise Development Centre of the Pan Atlantic University on Wednesday, 5 and Thursday, 6 February 2015, the entrepreneurs were taken through different topics including: Why businesses need IT, Creating a Facebook Business page, Social Media for business, etc.

Please click HEREto read more.

 

MY WIFE, MY NIGERIA

MY WIFE, MY NIGERIA by Auwal A. Ahmad

There are days I rise before her and others she before me; but every morning I set my eyes in the marks on her face, I see familiarity and beauty. 

The colourful wrappers she wears and ties on her emphasizing her roots. The gleeful manner she celebrates with mild Hausa dances and religious praises when she hears good news, catching her off guard with her long thick braids singing a Fulani song in front of the mirror, teasing her with criticism even when I know her Tuwo is delicious. I do love Sa'adatu, she is my Nigeria.

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An Informal Look At The Contribution Of Spain To The Colonial American War Of Independence

Since arriving in Spain seven years ago, my search for Spanish ancestors (Francisco Bouligny - Lieutenant Governor of Louisiana under Bernardo de Galvez) has given me an awareness of just how little we Americans know about the vital importance of Spain's assistance in our War of Independence from English rule.

What follows grew out of my own research and discussions with other interested American's both in Spain and the US. It started out as a desire to share this information with fellow Americans who stayed in my companies (www.rentalspain.com) short term furnished apartments for tourism and business stays in Madrid, and grew into membership in the SAR and involvement with the DAR.

My hopes are that the reader will also catch my desire to learn more, and spread the word in attempt to fill this gap in a very important part of our nation's history.

The Prelude:

At the end of The War of the Spanish Succession 1713-14
Britain was in possession of Gibraltar and Menorca. Over the next 50 years there were a number of European wars and constant struggle for domination which even involved Russia and Poland.

Export Processing Zones (EPZs) and Their Effects on the Growth of the "Globalization Project"

Allow me to begin this article by simply introducing some basic definitions. In general, the globalization project is referred to as the actions taken place by the government to participate in the world economy, usually through liberalization; giving out freedom of trade and cutting off custom restrictions. The process of expansion of international trade and financial flow, as well as flow of production factors for an economy such as foreign direct investments are the main acts under the globalization project in an economic sense. Some statistics available show that this global movement -the globalization project -has raised the living standards for many, benefitting people all across the world. But I would have to mention that at the same time, it also has promoted poverty across the globe (which will be discussed in this article as it continues). The globalization project has many aspects to itself which one in particular could be defined as the development of EPZs, the neoliberal economical approach towards the global market and adjustments plans such as the ones used at the time of debt crises.

Enter the Serpent - Notes on the Ascendency of China

The many recent books and commentary extolling China's lightening fast economic climb are right about the nature of China's spectacular rise and how the outside world is making it happen. A mere 25 years ago China was a backward, poverty-stricken totalitarian waste, and for many just the mention of its name would conjure up images of an iron-fisted police state hiding behind a bamboo curtain concealing an esoteric dominion of tyranny and human desperation. Now, thousands of leading American, Japanese, European, Korean, Taiwanese and Australian companies have and are racing to transfer plant, technology and modern manufacturing expertise to China, and in doing so they are quickly hallowing out the manufacturing bases of their home countries. They are being seduced and drawn into China by the appeal of extremely low labor rates, non-existent labor and environmental regulations, the desire to position themselves within the enormous future potential of China's consumer markets as well as the oftentimes necessity of just being there in order to be included on the supply chain of one of the many global manufacturing and technology giants that have already made the move to China in a big way.

Eastern European Banking Model

A traditional banking model in a CEEC (Central and Eastern European Country) consisted of a central bank and several purpose banks, one dealing with individuals' savings and other banking needs, and another focusing on foreign financial activities, etc. The central bank provided most of the commercial banking needs of enterprises in addition to other functions. During the late 1980s, the CEECs modified this earlier structure by taking all the commercial banking activities of the central bank and transferring them to new commercial banks. In most countries the new banks were set up along industry lines, although in Poland a regional approach has been adopted.

On the whole, these new stale-owned commercial banks controlled the bulk of financial transactions, although a few 'de novo banks' were allowed in Hungary and Poland. Simply transferring existing loans from the central bank to the new state-owned commercial banks had its problems, since it involved transferring both 'good' and 'bad' assets. Moreover, each bank's portfolio was restricted to the enterprise and industry assigned to them and they were not allowed to deal with other enterprises outside their remit.

Causes of American Decline - Culturally Internalized State Ideology and Vast Economic Inequality

The words equality and inequality have been been thrown about so often that they bring a knee jerk sickening reaction. People just don't want to hear about it even if they recognize the various abuses and corporate influence over government policy. Anything that is endlessly regurgitated for decades, passionately opinionated, and presented by inappropriate messengers can become ridiculously dull and inspire an instinctive shrug. This includes pushy religious moralizing babble by rich adulterous preachers, factional agenda by poorly educated silly demagogues like Al Sharpton, or appeals to income equality by college educated white children of the bourgeois. Whenever their mouths open we want them shut immediately since we understand the background of hypocricies, corruption, temporary fad following behavior, lack of education, superstition, and blatant factional interest. Decades of the passionate babble and counter-babble has trained us to ignore it as an irritating noise akin to one found on crowded subway platforms.

Financial Markets & More

Globalization of various types of markets, i.e. products, services, or financial markets can be characterized by various scale and dynamics, although most clearly it can be observed on the financial markets. It is stimulated by the huge scale of capital being transferred worldwide through the rapidly growing intermediary institutions, e.g., investment funds. The transfer most often happens in virtual terms only, with the use of electronic money and a variety of new financial instruments. For that reason financial markets operate in a fairly autonomic way, relatively independently from the real sphere. Independence from the real sphere coupled with the inter-relatedness of the whole financial system globally carries the risk of the "domino" effect.

A domino effect occurs when dangerous economic trends, such as financial system crises, transfer from one market to another, infecting them. The reason for this is a high sensitivity of the local markets toward the changes in direction of capital flows and a high level of interrelatedness of the whole system. It is worth noticing that although financial globalization is caused by an increase in the volume of world trade, financial markets globalize much quicker than the market of products. Moreover, the phenomena of financial markets leadership over the market of commodities can be observed in the relation of foreign direct investments toward export. Foreign direct investments show much higher dynamics than the trade volumes. There are also significant differences in the pace and dynamics of foreign direct investments regionally. To an extent, it is a good measure of the share in the globalization process that respective countries have.

The Blessings of the Black Economy

Some call it the "unofficial" or "informal" economy, others call it the "grey economy" but the old name fits it best: the "black economy". In the USA "black" means "profitable, healthy" and this is what the black economy is. Macedonia should count its blessings for having had a black economy so strong and thriving to see it through the transition. If Macedonia had to rely only on its official economy it would have gone bankrupt long ago.

The black economy is made up of two constituent activities:

• Legal activities that are not reported to the tax authorities and the income from which goes untaxed and unreported. For instance: it is not illegal to clean someone's house, to feed people or to drive them. It is, however, illegal to hide the income generated by these activities and not to pay tax on it. In most countries of the world, this is a criminal offence, punishable by years in prison.
• Illegal activities which, needless to say, are also not reported to the state (and, therefore, not taxed).

These two types of activities together are thought to comprise between 15% (USA, Germany) to 60% (Russia) of the economic activity (as measured by the GDP), depending on the country. It would probably be an underestimate to say that 40% of the GDP in Macedonia is "black". This equals 1.2 billion USD per annum. The money generated by these activities is largely held in foreign exchange outside the banking system or smuggled abroad (even through the local banking system). Experience in other countries shows that circa 15% of the money "floats" in the recipient country and is used to finance consumption. This should translate to 1 billion free floating dollars in the hands of the 2 million citizens of Macedonia. Billions are transferred to the outside world (mostly to finance additional transactions, some of it to be saved in foreign banks away from the long hand of the state). A trickle of money comes back and is "laundered" through the opening of small legal businesses.

Special Report - The Art Of Economic Espionage - Why China Is Crushing America's Global Supremacy

Modern historiography specialists have long argued that an essential segment in the study of human evolution is inextricably tied to the basic understanding that societies generally emerge, progress and fall cyclically. Such frequency in social evolution is not just a consequence of endogenous factors, it also results from the impact of the external environment, be it close - neighboring constituencies vying for the same resources - or far - as part of a larger geographical area.

History teaches us another fundamental truth, predominantly unveiled in social sciences: humans are inherently prone to believing in the danger of the unknown, the fear that uncertainty - when present in life - brings an intolerable level of complexity in handling daily activities. Economists, in tandem with the larger group of social scientists, ascribe the word "risk" to this angst.

Risk lies in everyday life. From birth to death and in between the terrestrial episode called life, humans experience a sophisticated relationship with risk and utilize it as a powerful catalyst to furthering their interests. We fear the unknown not just in temporal terms - e.g.: what will tomorrow be? - but also in more practical, present-day terms, that is, what will happen today?

In assessing the rectitude of our daily decisions, the analysis of the environment we live in becomes of critical importance. There emerges then the need to know, understand and act on a variety of variables that make up our ecosystemic reality. Neighbors are a major part of that reality.

Business Traveller Flying to London? A London City Guide for Getting to the Centre

London. The vibrant, beating heart of the United Kingdom. It's one of the world's most popular destinations for tourists, and for business travellers too. The amount of commerce that goes through London is staggering, with a financial centre second only to New York, and service industries that cater for both the UK, European and international markets. As the world's most multicultural city - there are over 300 languages spoken by a population of over eight million people (twelve million if you include the metropolitan area) - the opportunities for business are clear.

With the UK strategically positioned for the business traveller on the western edge of Europe, London is a global hub for air travel, providing easy access to mainland Europe, and a stepping stone to the United States. Primarily served by five airports - Heathrow, Gatwick, City, Stansted and Luton - London is easily reached from anywhere in the world. But with the exception of London City Airport - smallest of the five and located in East London, close to the business district of Canary Wharf - the other four airports are satellites evenly dispersed around the city. The most popular, Heathrow, is located to the west of London; Gatwick is situated to the south; Stansted to the north east; and Luton to the North West. Knowing this before you make your travel plans can be useful. Since the greater metropolitan area of London covers over 1,000 square miles, your final business destination may not be right in the centre. Researching which airport is closest to your destination can save you time, effort and money.

However, whether you're a business traveller flying from within the UK or from overseas, your starting destination may often determine the airport you arrive at. Other factors, such as your chosen time of travel, budget and availability will also make a difference. For example, if you're travelling with a major international carrier from a major city, such as New York, the chances are you'll arrive at Heathrow or Gatwick (Stansted also receives flights from New York but is the smallest of the three). If you're travelling locally from within the UK with a budget carrier you're more likely to arrive at Stansted or Luton (though not exclusively). And if you're travelling from a major European city, particularly a financial capital, such as Frankfurt, London City Airport is a likely arrival point (the airport was created specifically to cater for short haul business travellers, particularly between financial centres).

The Effects Of Balance Of Trade Surplus And Deficit On A Country's Economy

INTRODUCTION

It is in no doubt that balance of trade which is sometimes symbolized as (NX) is described as the Difference between the monetary value of export and import of output in an economy over a certain period. It could also been seen as the relationship between the nation's import and exports. When the balance has a positive indication, it is termed a trade surplus, i.e. if it consists of exporting more than is imported and a trade deficit or a trade gap if the reverse is the case. The Balance of trade is sometimes divided into a goods and a service balance. It encompasses the activity of exports and imports. It is expected that a country who does more of exports than imports stands a big chance of enjoying a balance of trade surplus in its economy more than its counterpart who does the opposite.

Economists and Government bureaus attempt to track trade deficits and surpluses by recording as many transactions with foreign entities as possible. Economists and Statisticians collect receipts from custom offices and routinely total imports, exports and financial transactions. The full accounting is called the 'Balance of Payments'- this is used to calculate the balance of trade which almost always result in a trade surplus or deficit.

Pre-Contemporary understanding of the functioning of the balance of trade informed the economic policies of early modern Europe that are grouped under the heading 'mercantilism'.

Is the Chinese Bullet Train Running Out Of Tracks?

There have been many examples of recent Chinese jitteriness regarding political dissent, and any display of it has prompted a swift response. Examples of these have taken place on the internet where new regulations have been put into effect. On October 26, the Xinhua News Agency published a report, by the Sixth Plenary Session of the 17th CPC Central Committee which stressed the need to strengthen the management of social networks and instant messaging tools. Judging from the language of the communiqué and its policy recommendations, it is safe to assume that the Chinese cyber sphere has grown to unmanageable levels for the vast amount of government censors to handle, and more self-censorship is being demanded. A word of warning was also extended to the executives of social media companies, so they realize that they are not immune to the reach and power of the communist party. This warning is to make sure they understand that their corporate survival and business model will only be guaranteed, by their ability to control, keep track, and allow government censors access to what information gets into the chat rooms. They were even brazen enough to warn members of the foreign media to become more Chinese in their reporting, and practice self-censorship.

What developments have contributed to all of this edginess? Some are external and others are internal. On the external international front there seems to be an anti-china backlash result of its foreign policy and international trade tactics. On the internal domestic front, challenges remain due to its politico-economic schizophrenic system of governing , where it is very clear to the ordinary citizen that the communist ideology, exists in name only.

Hawala, or The Bank That Never Was

I. OVERVIEW

In the wake of the September 11 terrorist attacks on the USA, attention was drawn to the age-old, secretive, and globe-spanning banking system developed in Asia and known as "Hawala" (to change, in Arabic). It is based on a short term, discountable, negotiable, promissory note (or bill of exchange) called "Hundi". While not limited to Moslems, it has come to be identified with "Islamic Banking".

Islamic Law (Sharia'a) regulates commerce and finance in the Fiqh Al Mua'malat, (transactions amongst people). Modern Islamic banks are overseen by the Shari'a Supervisory Board of Islamic Banks and Institutions ("The Shari'a Committee").

The Shi'a "Islamic Laws according to the Fatawa of Ayatullah al Uzama Syed Ali al-Husaini Seestani" has this to say about Hawala banking:

"2298. If a debtor directs his creditor to collect his debt from the third person, and the creditor accepts the arrangement, the third person will, on completion of all the conditions to be explained later, become the debtor. Thereafter, the creditor cannot demand his debt from the first debtor."

The prophet Muhammad (a cross border trader of goods and commodities by profession) encouraged the free movement of goods and the development of markets. Numerous Moslem scholars railed against hoarding and harmful speculation (market cornering and manipulation known as "Gharar"). Moslems were the first to use promissory notes and assignment, or transfer of debts via bills of exchange ("Hawala"). Among modern banking instruments, only floating and, therefore, uncertain, interest payments ("Riba" and "Jahala"), futures contracts, and forfeiting are frowned upon. But agile Moslem traders easily and often circumvent these religious restrictions by creating "synthetic Murabaha (contracts)" identical to Western forward and futures contracts. Actually, the only allowed transfer or trading of debts (as distinct from the underlying commodities or goods) is under the Hawala.

The Credit Crunch - It's True Causes and a Call to Action

[This analysis relates mostly to the United States and the United Kingdom, which is where I live, but it is also important to people living in other Western countries.]

1. I'm not going to give you any BS. Reading this may give you nightmares but I can't help that. The important thing for you is to know who is causing the Credit Crunch and why. This may mean the difference between life and death for you and your family in the financial and economic tsunami engulfing all Western countries. Think I'm kidding? Then just read this to the end for the real truth that will make the hairs on the back of your neck stand up on end.

Who Creates Our Money?

2. The root of the problem is money creation. Money doesn't exist in nature, so someone has to create it. It should be created by the government through a department that's answerable to everyone who votes. This department should also be responsible for maintaining its value, with no excessive inflation or deflation. This means simply keeping the amount of money in circulation broadly in line with the value of goods and services in the economy at any given time. The National Debt would cease to exist as the government would issue (through the appropriate department responsible to voters) all the money needed for it to function. This would cut down government interference and radically reduce tax levels. It is fundamental that all money issued in this way should be debt-free, i.e. spent into circulation and not borrowed as a loan that has to be repaid with interest, which is what happens at present.

"The Most Powerful Weapon Invented By Man"

Overview of Bangladesh Garment Industry

Agriculture, as the case in India, has been the backbone of economy and chief source of income for the people of Bangladesh, the country made of villages. Government wants to decrease poverty by getting highest productivity from agriculture and achieve self-reliance in food production. Apart from agriculture, the country is much concerned about the growth of export division. Bangladesh have accelerated and changed her exports substantially from time to time. After Bangladesh came into being, jute and tea were the most export-oriented industries. But with the continual perils of flood, failing jute fibre prices and a considerable decline in world demand, the role of the jute sector to the country's economy has deteriorated (Spinanger, 1986). After that, focus has been shifted to the function of production sector, especially in garment industry.

The garment industry of Bangladesh has been the key export division and a main source of foreign exchange for the last 25 years. At present, the country generates about $5 billion worth of products each year by exporting garment. The industry provides employment to about 3 million workers of whom 90% are women. Two non-market elements have performed a vital function in confirming the garment industry's continual success; these elements are (a) quotas under Multi- Fibre Arrangement1 (MFA) in the North American market and (b) special market entry to European markets. The whole procedure is strongly related with the trend of relocation of production.

A Guide to Swiss Banking - Part 2

In the first part of this guide, you learnt about some of the main benefits of Swiss banking. You also discovered how to open a Swiss bank account, and how to use it for savings and investment purposes. In this second part, we deal with making deposits and withdrawals.

Deposits & Withdrawals
How can I deposit money in my Swiss bank account?

Once your account has been opened, you can deposit money to your account in several ways:

• Cash deposit
• Traveller's check deposit
• Securities deposit
• Transfer from another account
• Receive a bank transfer
• Personal checks
• Bank checks

Selecting the most appropriate method of deposit depends on the amount deposited, the degree of confidentiality desired and the level of convenience.

Can traveller's checks be tracked?

The issuing bank can discover where traveller's checks were cashed. In fact, you are always required to reveal your identity when making a purchase with traveller's checks. Since each check is identifiable by a unique number, it is possible to trace it. However, in practice this type of search is rarely conducted.

Can I make a deposit with a postal order?

At the time of writing this, there are no known restrictions in Switzerland regarding receiving deposits in the form of postal money orders to your Swiss bank account. However, you should verify that the postal system you are using allows you to send money to a foreign bank account.

Can I make a deposit to my Swiss bank account via Western Union?

Western Union's services are only for individuals wishing to transfer money to other individuals. At the time of writing this, it is believed not to be possible to use Western Union to deposit money to a Swiss bank account.

How can I withdraw money from my account in Switzerland?

There are several ways you can withdraw money from your Swiss bank account:

• Credit card
• Cash withdrawal
• By traveller's checks
• Bank transfers
• Checks

Selecting the most appropriate method of deposit depends on the amount deposited, the degree of confidentiality desired and the level of convenience.

Which credit cards can I use with my Swiss Bank Account?

For the fastest access to your Swiss bank account, a credit card offers the freedom to access your funds, 24 hours a day. Wherever you are, you can withdraw cash discreetly from ATMs.

How can I get a credit card?

You can acquire a credit card as long as you make a security deposit. Swiss banks do not conduct credit inquiries: the security deposit is considered to provide the security the bank requires.

Which credit card offers the most confidentiality?

Most banks offer credit cards without the bank logo. Nevertheless, experts can identify your bank by the first four digits of your credit card number.

If you wish to avoid any connection to the bank, you can, in some cases, request a card be issued by an institution other than your bank.

It is illegal for credit card companies to provide any information on cardholders. Just like the banks themselves, credit card companies are bound by Swiss professional secrecy.

How do I use a credit card discreetly?

Discreet cardholders will:

Use their credit card exclusively at ATMs

Avoid using their card in shops, restaurants and abroad*

Never pay for services in their country of residence*

The credit card slip issued during transactions contains information about your account: identification of the bank (or at least the country), your first name and last name.

Bank transfers

Generally, it takes two or three working days to transfer money from your Swiss bank account to an account in another industrialised country. However, this timeline may vary due to reasons beyond the control of your Swiss bank.

These delays may arise from a number of reasons:

The nature of your transfer

The way in which you transmit your request for payment to your bank affects the time it takes to complete a transaction. If you send your request to your bank by regular post, it should take two or three working days to process your order. Using online banking services though significantly reduces this delay.

SWIFT*

Currently, 90% of all banks worldwide use the SWIFT network to carry out international bank transfers. SWIFT is a computerised system which allows banks to exchange internationally recognised messages that indicate credited amounts and authorise debits.

Some banks in developing countries are not affiliated with the SWIFT network and transmit this kind of information by telex. As a result of this, the time taken to transfer your money can be greatly delayed.

Affiliated Banks

SWIFT only transmits a message. In order for the operation to be completed efficiently, the receiving bank must have an account at the head office of the issuing bank. Generally, every major bank holds direct accounts at the head offices of other major bank and thus an interbank transfer can easily and quickly be made.

If the receiving bank does not have an account with the issuing bank, the wire transfer must go through an affiliated bank that can link the two banks. Sometimes, it is necessary to call upon several affiliated banks in order to transfer the money to the final receiving bank. This may take longer and each intermediary may also charge a commission for their services.

Currency

A wire transfer must take place through one of the countries which issues the currency. For example, a wire transfer in US dollars paid to an Italian bank must pass through an intermediary in the United States. As a result of this, the operation may take longer, depending on the currency being transferred.

*SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a company incorporated under Belgian law, whose headquarters is located in Brussels. Its role is to facilitate international banking operations through a very powerful computer network. SWIFT was founded in 1973 by 239 banks in 15 different countries and now more than 7,125 institutions in 192 countries subscribe to it.

Check books

Checks and check books are very rarely used in connection with a Swiss bank account. Your bank can prepare bank checks on your behalf, but this is rarely wise. The reason for this is that a check issued by your Swiss bank informs a number of people that your Swiss account exists, which imperils your confidentiality. Furthermore, it takes several weeks for a check to be completely processed.

If you wish to withdraw funds from your Swiss bank account, we would recommend using your credit cards as this is faster, more efficient and a more discreet.

Confidentiality

All Swiss banks are obliged to ensure that any information held about you or your account is strictly confidential.

Swiss bank secrecy is one of the strictest in the world and is part of an ancient Swiss tradition of privacy. Under Swiss law any banker who reveals information about you without your consent runs the risk of a prison sentence.

Privacy

The only exceptions to this rule are in regard to serious crimes such as arms smuggling and drug trafficking. In the event of accusations of tax evasion, your privacy is still guaranteed in Switzerland as failure to report income or assets is not regarded as a criminal offence in Switzerland. This means that neither the Swiss government, nor any other government, can acquire information about your bank account. Should they wish to obtain any such information, they must first convince a Swiss judge that you have committed a serious crime punishable under the Swiss Penal Code.

Private Matters

Bank secrecy will not be lifted for private matters such as inheritance or divorce as long as your banking information is held in strict confidence as is the case with nearly all Swiss bank accounts. Your account must be proven to exist if a judge wishes to pursue the case. This is why a numbered Swiss bank account provides the maximum level of confidentiality.

John Gaines

Article Source: http://EzineArticles.com/106955

Surely Not ALL Evils!

Surely, Not All Evils!

(circa 2000)

St. Paul wrote a letter to a young Christian, and said that the
root of all evil is the love of money. (I Timothy 6:10) This is
an amazing claim.

Perhaps too much love for too much money we could go
along with, or perhaps we could agree that it is the cause of
some evils... maybe even a lot of evils. But to just come right
out and say that all love for any amount of money is the
cause of all evils is a bit much for most people to take.

You only need to quote the verse as it is written, to get a
reaction from the average churchgoer. Try it, and see if they
don't say something like, "It's the love of money, mind you,
not money itself." They then go on to tell you how they know
of a lot of rich people who have accomplished a lot for God.

What is happening when they respond like this? Let's
change the issue slightly to make it clearer. Suppose
someone says that drug addiction is ruining Western
society, and a reaction comes back, stating that it's not the
drugs themselves, but addiction that is the problem.

South Africa - The Jewel of Africa

No other country has been more central to the changing tides of modern history than South Africa since apartheid ended back in the early 90s. It now feels incredible that such a thing existed not so long ago, although it is true to say that it has not just been plain sailing since the formation of South Africa's new republic, it is also fair to say that the country has shown a maturity and willingness to move forward, that has surpassed expectation. Much praise for this must of course go to Nelson Mandela, who even when he left office as president in 1999 has remained as a figurehead for positive and peaceful progress.

So now the great man has retired from public service, what can we expect for tourists visiting and those thinking of investing in modern South Africa?

South Africa has always been known as 'the jewel of Africa'. In a continent known for its lush wildlife and amazing landscape, this is no easy title to hold. However it is the fact that South Africa offers so much that makes it so popular. The country has a world-class infrastructure with modern motorways, trains, buses and internal flights making getting around easy. South Africa is also known for having over 3,500 kilometers of paradise coast line, more than 20 National Parks and an array of World Heritage sites. All this, a wonderful climate and so many activities to keep the hardest to please smiling all day, from scuba diving to cultural landmarks and trails, to golf, great food and wine, its easy to see why this country has become so popular.

There is so much to see in this large country, such as the Western Coast, with pristine beaches and epic mountain range, this is a great destination to experience lovely old fishing villages and South Africa's very best sea food. There is always abundant nature here, with the Western Coast spring that erupts with glorious carpets of flowers covering the ground, a hiking favorite, as is bird watching and whale watching.

The Elephant Coast stretches from Lake St Lucia, a renowned World Heritage site to the south of Kosi Bay. This is beautiful wild land, an untamed area that is becoming increasingly popular with those looking for extraordinary geology and eco-systems, coupled with a taste of adventure. There are two world-famous parks here, the Hluhluwe-Imfolozi Park (with over 1500 white rhino) and the iSimangaliso Wetland Park. In this region you will find untouched wetlands populated with birdlife and the largest group of indigenous African elephants in the country.

For those looking for South Africa off the beaten

A Silent Witness - To the Greatest Financial Heist in World History

Assalam alaikum,

I once heard Imam Siraj Wahaj describe his own actions during a speech held at Regents Park Mosque, London. He qualified himself as being the least knowledgeable speaker on the panel. While explaining his position he made a profound statement, the depth of which I have not forgot - (very loosely paraphrased):

"I am the least qualified amongst these speakers of eloquence but that has never been my fear nor my concern.  What concerns me is that I have sure knowledge on what I speak of and when I know something to be undeniably true then that becomes my true position and I hold firm to that position, unmovable in the face of views to the contrary.  That is the reason why I am up here and able to hold your attention and connect with you, I'm passionate about this".

I think that statement resonated with me because at that point I could see a man who neither feared his peers nor was afraid to trust his own judgment and was passionate about what he believed in. He also struck me as a man not afraid to adopt the contrarian view. I intend to adopt the same position in an attempt to speak my mind and add to the discussion on a financial issue which has remained in the dark for far too long despite the sincere efforts of more intelligent souls to bring the issue out of the darkness and into the light.

New Forms of Organized Crime

The International Monetary Fund (IMF) to indicate that nearly $ 1 trillion, from criminal activities, circulating daily in the financial markets.

The UN, moreover, suggests a world market for illicit drugs more than the entire oil industry, moving a year more than $ 400 billion dollars.

This high volume of financial resources generated by organized crime to be hidden, disguised and integrated into economic activity permitted.

It is possible to state that the mafias no longer a matter of police to become a financial and geopolitical issue of first magnitude A clandestine world buzzing, not subjected to any kind of law or democratic rules, employs hundreds of thousands of people.

The 'business' includes trade in drugs, weapons (possibly even nuclear), sophisticated technologies obtained through industrial espionage or secret purchase of slaves and white children, human organs used in transplants, transport, passports and visas for falsified entries for illegal immigrants, in addition to practice 'traditional' authorities and of bribery of politicians, extortion, exploitation of prostitution and child and adult control of cities or entire regions based on force and terror imposed by well-armed gangs and organized according to a paramilitary structure.

Another important factor to be considered is the transnational criminal organizations tripled the area of cultivation of coca in Colombia, due to new agricultural techniques despite fumigation under sponsorship of the America.

The Fake Check Scam via CareerBuilder

Although the fake check scam is an old one and about 65% of the population are aware of it, scammers are constantly finding ways to improve their techniques and trap even the most computer/internet savvy of people.

So as technology progresses along, so does the online crime.

Heed my warnings to beware of any offer that you receive utilizing a "cashiers check" over the amount of what is being asked. The newest scam to date is the "phony job offer" coming through online job boards such as CareerBuilder.com, Monster.com, Dice.com, HotJobs.com etc. etc.

How it Works

You are notified via e-mail with a job offer to act as a "Donations Processor" or something similar. You are e-mailed a link to a (fake) contract and asked to sign and fax it back.

Within a few days, you will receive a FedEx envelope containing a Cashiers Check in the amount if either $4500 or $7500. Your main contact will notify you via e-mail requesting the status of the funds. Once you have the funds available, which you likely will considering the banks will immediately release the monies of a cashiers check under $5000, you will be given instructions on how to and who to send the funds. You will likely be asked to wire the funds via Western Union but strongly instructed not to send the money as a "business" transaction but rather a "personal" transaction. Note: the needy somebody you are sending the funds to is always in Ukraine!

Act Now Or Your Savings Will Be Stolen!

The imminent train wreck is picking up speed and your life's savings will soon evaporate overnight if you do nothing! You won't like hearing this but least of all will you enjoy living through it! The Central Banks control the timing but the next big financial crisis has already been put into motion.

Today nothing makes sense! The stock market is at an all time high of 15,000 and expected to reach 16,000. Yet the U.S. produces nothing and has a negative G.D.P. National retailers report dropping sales and announce record numbers of store closures and bankruptcies are increasing. Savings are at an all time low and the number of dependent citizens increases monthly. Interest rates have been held at zero with housing interest at their lowest rate ever yet housing sales and starts show declines. Unemployment numbers are at the highest level since the Great Depression and yet we are told all is well and improving. We have a massive bull market in the United States and China brought on by the massive printing of electronic dollars by humongous banks in corrupt dealings using algorithms controlled by the Federal Reserve. No longer are equities and precious metals relative to the economy. Isn't it obvious to an intelligent human that the economy is not recovering but that a collapse of the world's economy is imminent?

Safe Trading on eBay: Avoiding Fraud for Buyers & Sellers

Turn on CNN or Fox News, read a column on the Internet or play your favorite all news radio station an you'll become acutely aware of the "so-called" fraud online - specifically related to eBay.

Definition of Fraud: "In a broad strokes definition, fraud is a deliberate misrepresentation which causes another person to suffer damages, usually monetary losses."

Like many, I have had negative experiences one eBay. However, I've also had negative experiences with unscrupulous people in the real world. The truth is that eBay is just a microcosm of real-life society where 99.9% of people are good nature.

Have you had a bad experience on eBay? I spoke with someone recently who said that a "fraudulent experience on eBay" ruined their desires to use eBay as a sales platform." That seems just a bit immature, don't you think? Just a few weeks ago my nine year old daughter left her board shorts on a lounge chair while swimming in the pool (at a nationally recognized vacation resort). When she returned, her shorts were gone. Someone stole her shorts. Fraud and theft. How should my nine year old respond? Should she never swim in a public pool again?

Of course not. But, she can learn a valuable life lesson of how to protect herself and her property. And to that we discover the purpose of this article. How can we protect ourselves from potential fraud on eBay?

Fraud on eBay, while small in proportion to the number of transactions that take place, is a real issue for the unsuspecting eBay member. Follow the following points to reduce the potential of fraud on eBay in your online trading adventures.

Fraud Tip #1: Understand Phishing