Risk and Returns Assignment Example | Topics and Well Written Essays - 500 words

Risk and Returns - Assignment Example In order to diversify the risk, the assets are held together forming a portfolio. The sum of variance for the portfolio is almost lower than a single average weight of individual portfolio, therefore, minimizing the overall risk of investment (Rachev, 2005).  To clearly illustrate the model, the following capital structure for Wal-Mart stores for the year 2010 is used. Each component cost could be determined using various formulas. For instance, to determine the cost of debt using the Wall mart sore which has $1,000 PV (par value) zero coupon bond outstanding. Assuming that the bonds are currently trading at $ 385.54 with a 10 year maturity period and a tax rate of 40%, then the cost could be determined as follow. Finally the cost of equity would be determined using capital asset pricing model would be used to determine the cost of the components. Assuming that the risk free rate in the market is 4% and having been given the beta factor of 3 for bond and 0 for money market instruments. For a risk take investor, he will consider using debt which is much cheaper than common equity and preference stock. This is a risky investment, though the overall return will be much higher. The average weighted cost of capital will be much lesser i.e. 9% as par the computation above. On the hand if the investor considers using less debt which is cheaper and opt to use more equality and common stock as shown in the capital structure bellow; In conclusion, it is clear that risk is a universal factor in investment decision since no one can really stay away fro it. Though that is the case, risk can be reduced based on individually capability as well as their knowledge. For one to have successful portfolio management, then it will depend on the right mix of all assets and individual investor’s overall risk expectation. One of the key important choices which an investor has to consider is his where his risk tolerance lies. This

Effects of globalization on the politics of China Essay Example for Free

Effects of globalization on the politics of China Essay â€Å"Arguably globalization has served Chinas communist rulers well. † (Yahuda China’s Win-Win Globalization) On the political front too, Chinese rulers welcomed globalization rather used it as a tool for the fulfillment of their own purposes. It was suspected that globalization would throw the communist rule out of the country once globalization had set foot firmly in the cultural and economic roots. However, it proved far from it, in fact it promoted the communist rule since all the well balanced economic growth took place in their era and reinforced the existing rulers. The communist party has faced the challenges bravely and tackled them skillfully in order to prove themselves. â€Å"It has accomplished three significant generational changes of leadership from the heroic founding fathers, to the technocratic Soviet-educated engineers of the generation of Jiang Zemin and Li Peng, and now to the next technocratic generation, headed by Hu Jintao. † (Yahuda China’s Win-Win Globalization) The political front of China has been altogether revolutionized and as its foreign policy. The altered foreign policy has strengthened its international relations and has improved its position which was highly essential for supporting and continuing it’s the success of its economic strategies. Environmental issue [Please Note that this is the ethical issue chosen from a range of women rights environmental etc specified in your order] International trade, economy and politics make it essential for all the countries and regions to abide by strict rules regarding environmental protection. This has lead countries to take effective steps to improve their countries’ environmental conditions to meet the standards set by the international community. Involvement of various states has lead to â€Å"the advent of global environmental challenges that can not be solved without international cooperation, such as climate change, cross-boundary water and air pollution, over-fishing of the ocean, and the spread of invasive species. Many factories are built in developing countries where they can pollute freely. † (Globalization Wikipedia) Hence rules have been made and have to strongly implemented in countries which are possible suspects of spreading pollution. In case of China, globalization has played a vital role in developing the environmental culture. If seen closely initially globalization lead to rapid industrialization which was a major source of pollution. International community with time seemed to give more importance to the environmental issue than to the actual economic growth of a country. It argued that economic growth at the cost of spoiling the environment was not at all acceptable. â€Å"Pollution is invariably one of the first impressions visitor forms of China. From bicycles to cars in 25 years, urban China rarely sees much in the way of blue sky anymore. Rapid and large-scale industrialization only compounds the problem. † (Roach) However, China struggled hard to fight off this problem since international issues got stricter regarding the environmental issue. It is however, highly difficult for China to balance between its economy and the pollution problem it faces. Environmental problem has risen to an extent that China could serious problems if the international community places restrictions on it because of its environmental problem. It is a sorry state of affairs that globalization has lead China to develop into one of the most rapidly growing countries and at the same time it has harbored a much concerned problem for it like environmental pollution. On the cost of its economy it has damaged its own environment for good. However, China has planned a strategy of balancing its economy and the pollution problem in order to reduce the current pollution and minimize future pollution possibilities. Works Cited â€Å"Globalization† Wikipedia. 21 April 2008. http://en. wikipedia. org/wiki/Globalism#Effects_of_globalization Khan, Azizur Rehman and Riskin, Carl. Inequality and Poverty in China in the age of Globalization. 2001. Oxford. Roach, Stephen S. â€Å"China’s Environmental Moment of Truth†. April 4 2007. The Globalist. 21 April 2008. http://www. theglobalist. com/DBWeb/storyid. aspx? StoryId=6088 Rothkop, David. â€Å"In Praise of Cultural Imperialism? Effects of Globalization on Culture† June 22, 1997. Global policy Forum. 21 April 2008. http://www. globalpolicy. org/globaliz/cultural/globcult. htm Weller, Robert P. Discovering Nature: Globalization and Environmental Culture in China and Taiwan. 2006. Cambridge University Press. Yahuda, Michael. â€Å"Chinas Win-Win Globalization†. Yale global online. 21 April 2008. http://yaleglobal. yale. edu/display. article? id=1017page=2

Shakespeare, Loncraine, Donaldson, Richard, and Me Essay -- Shakespear

Shakespeare, Loncraine, Donaldson, Richard, and Me Act 2.4 of Loncraine’s Richard III is where I started furiously scribbling notes in the margins of notes. After Rivers is shockingly murdered, Loncraine films a still shot of the countryside. A farmer leads an ox in the foreground, while a train noisily passes in the background. There is a quick cut to the train, smoke billowing from its engines, entering a dark tunnel and then another cut to a toy train in the palace. The young Yorks are playing with the toy train and also a gray airplane. Queen Elizabeth and her mother-in-law, the Duchess of York, chat nearby. Their discussion is light. The Duchess expresses her desire to see the Prince, as she has heard he has grown. Margaret plays the piano in the background and the whistle of the toy train continues. Lord Stanley and Richmond enter, harboring grave news. Suddenly there are a series of short cuts between the faces of the Duchess, the Queen, Stanley and Richard as the news is revealed. Rivers has been murdered. At this mome nt, there is silence. Then the toy train begins to make noise again. Elizabeth says "I see the ruin of my family" and then another cut to the boys playing with their toy train and airplane. In the shadow of the hallway, Richard’s accomplice, Tyrrell, derails the toy train with his foot, smirking at young York. The toy train noise smoothly becomes a real train whistle. And lastly, the scene is framed with the image of the real train, on which the Prince is a passenger. After watching this is the scene of Loncraine’s film, I hit the pause button triumphantly. I positioned my text of Richard III and Donaldson’s essay "Cinema and the Kingdom of Death: Loncraine’s Richard III adjacent to each other and ea... ...ces an extensive dialogue within the text with an image of the train, arousing a modern anxiety of doom: the destructive capabilities of rapidly growing technology are seizing an innocent and aweless existence. Before reading Peter S. Donaldson’s article, "Cinema and the Kingdom of Death: Loncraine’s Richard III," I slept eight hours, ate a well-balanced breakfast, and ran a mile to warm up. I knew from reading "In Fair Verona," that Donaldson writes for fit athletes of an intense analytical and intellectual field. Focus, pacing, and especially composure are essential to navigating his intricate and challenging course of connections, allusions, Shakespeare, media, history, past, present, future and beyond. I was prepared, though, and began slowly, but confidently, on another one of Donaldson’s awesome paths. And this time, I just may have created some of my own.

Sociology: Definition, Origin and Dilemmas

In society, every concept requires a clear definition in order to develop an understanding of how the various coexisting areas function to produce efficiency. Sociology in its essence explains these concepts as it involves the individuals that work conjointly to ensure those societal systems’ functions are executed smoothly. According to the department of Sociology of Cornell University: â€Å"Sociology is the study of social life, social change, and the social causes and consequences of human behaviour (University, 2008, prg. ). † However, what makes sociology differ from other social sciences is its analysis of individual behaviours as they interact within different contexts classified as systems such as political systems, economic systems and family systems (University, 2008). These three systems are identified as the make-up of the Belizean society. The Political system represents the different constituencies of the country, the government and its branches of author ity, and political parties. The Belizean economy is formed by the various produce, commerce, internal and external exportation of products and services as well as the various income sources of the country. The last system identified as the family system is a mixture of various forms but the most common within the Belizean context are single-parent families amongst the nuclear and extended families that do exist but in smaller numbers. The ranges of systems qualified for sociological study include, but are not limited to, intimate families, mobs, cults, and sports (University, 2008). Like the individuals and systems it studies, sociology also has a source of origin and an explanation for its existence and functions. Sociology in its term was developed by in the year 1838 by a French Philosopher identified as August Comte who believed strongly that social issues could be studied with the use of science. In his belief, though strange to others at the time, he believed it was possible to discover and analyse the laws of social life just as is done with the laws of science and factual evidence of theories. Of this concept, link between science and society, he then developed what we refer to as positivism to sociology which would give sociologists the qualifications to become societal guides. (Crossman, 2013). An indeed sociologists have become guides to the everyday worldly functions of social life as each social activity has a designated sociologists. Areas guided have been classified to be those of religion, politics, law, economics, rural life and industry among many others (Unknown, 2007). Aside from being developed by the â€Å"Father of Sociology†, August Comte, there were also other factors that presented great encouragement toward the concept of Sociology. Such contributors were all identified as socially changing occurrences of the twentieth century. Among those contributors were the political revolutions that occurred in Europe, the Industrial Revolution which introduced automation, Capitalism, Socialism, and not to mention the emerging religions and developing municipalities. These occurrences in their own way changed the lives of individuals. Thus the reason why these instances influenced the development of Sociology was because of their contribution to social change (Crossman, 2013) . Sociology, as mentioned before, studies how individuals interact within various social systems. Whenever interaction and human behaviour is combined difficulties and ethical dilemmas are prone to arise. The Hawthorne effect is said to be a difficulty for Sociologists in executing sociological research because when humans are aware that they are being observed they often exhibit false pretences to fit the roles they believe they should fulfil. Another difficulty would be the complexity of social issues, as opposed to scientific phenomena, because most of these are not easily measurable. A plausible difficulty could be that people in power, people independent of societal norms, and people who are publicly visible may want to keep their activities in obscurity and unknown by others. Ethical dilemmas may also be problems for Sociologists. Two major ethical dilemmas that may be problematic are violating individuals’ right to their privacy and experimentation using inexperienced, obedient, gullible individuals. Finlay). With all the information presented sociology can be defined in condense statements. Therefore, Sociology is the study of individual social behaviour and how individuals interact within social context such as political, family and economic systems. Sociology was developed by French philosopher August Comte but was greatly influenced by the grave social changes that occurred during its era of development. T o conclude, its social nature lightens the way for difficulties and ethical dilemmas in the execution of research on relative issues.

Emergence of Malls in India

Malls as we understand, is a form of organized retailing. They lend an ideal shopping experience with an amalgamation of product, service and entertainment, all under a common roof. Before going into the details of emergence of malls, let's see how the Indian retail sector has evolved over the years and how the concepts of malls came into being. The era of rural retail industry could be categorized into two formats:  weekly markets  and  village fairs.Primarily, weekly formats catered to the daily necessities of villagers. Village fairs were larger in size with a wide variety of goods sold from food, clothing, cosmetics and small consumer durables. The traditional era saw the emergence of the neighborhood ‘Kirana' store to cater to the convenience of the Indian consumers. The era of government support saw indigenous franchise model of store chains run by Khadi ; Village Industries Commission. The KVIC has a countrywide chain of 7000 plus stores in India.This period also w itnessed the emergence of shopping centers with car parking facility. The modern era has a host of small and large formats with exclusive outlets showcasing a complete range of products. The department stores and shopping malls targeting to provide a complete destination experience for all segments of the society. The hyper and super markets are consistently trying to provide the customer with the 3 Vs (Value, Variety ; Volume).Over the last three years, this sector has witnessed an exorbitant growth due to the establishment of numerous international quality formats to suit the Indian purchase behavior, the improvement in retail processes, the development of retail specific properties and the emergence of both domestic and international organizations has witnessed the emergence of malls. it is not just the north of the country that is seeing a furious construction of malls. Visakhapatnam, a fast-growing city in the southern state of Andhra Pradesh, is witnessing a huge demand for sh opping malls.The biggest of them, CMR Shopping Mall, occupies 60,000 square feet over five floors. The throngs of buyers who visit the mall are working class and office employees of the numerous public and private sector outfits that are based in Visakhapatnam. Similarly, Ahmedabad in western India is slowly becoming a magnet for shopping malls. More than half a dozen malls have sprung up in Ahmedabad, known as a fading city of dying textile mills until a few years back. The biggest of them, aptly called Super Mall, occupies a gargantuan 90,000 square feet and has 200 shops in its folds.But the biggest mall-construction activity in India is taking place, as expected, in Mumbai, the country's financial and business capital. In all, 25 malls are under construction, each measuring anything between 90,000 and 600,000 square feet. A hefty Rs. 4 billion (US $87 million) is being pumped into these projects by 20 investors. About a dozen malls are already up and running in the up-market sou th side of the city, as well as the downmarket distant suburbs. Making the job easier for the anchors is a gradual change in the Indian economy from a socialistic to a capitalistic one.This has led to a rise in the numbers of middle-class consumers, their wallets stuffed with more disposable income. According to one estimate, over the past three years, consumer spending has increased at a respectable rate of 12% per annum. Another reason for the ongoing boom in mall activity is the opportunity to retailers for a greater accessibility to real estate at affordable prices. Part of this is due to easier availability of bank and institutional finance. And in places such as Mumbai, the freeing up of much-needed real estate.This has happened with the many closed textile mills in the central part of the city now being allowed to exploit their real estate for other commercial purposes. Investors are attracted by the 14% returns in the malls business, compared to 11% in the office segment and 6% in the residential segment. For the young crowd, malls have become areas in which to â€Å"hang out†, to catch up with friends in stores like Cafe Coffee Day and Barista, each vying to be the Starbucks of India. There's also an entertainment factor, with more and more of the youngsters beginning to see shopping as an enjoyable thing to pass the time.

Duong Nguyen Essays - Culture, Wedding, Asia, Clothing, Free Essays

Duong Nguyen Essays - Culture, Wedding, Asia, Clothing, Free Essays Duong Nguyen Professor C.Chwat English 1101 March 12, 2016 Compare and Contrast Essay between Vietnam and the United States United States and Vietnam are two distinctive countries with many differences. The two countries are on different continents, and there is a wide difference between the two countries. The culture, beliefs and practices of the people are different. However, as the world becomes more global, and as people become more exposed to different cultures, the differences between them seem to be narrowing. This is because of the willingness of the people to adopt different cultures, while at the same time maintain some of the elements of their own culture. There are several similarities and differences between the United States and Vietnam, specifically, in wedding ceremonies, food and the education system. Wedding ceremonies are significant for couples in both countries. The weddings in both countries are organized, and there are certain rituals that the couple intending to get married has to observe, before and during the wedding ceremony. In both countries, couples have engagement ceremon ies before holding a wedding ceremony. Also, the couples exchange rings during the wedding. In addition, the couple often holds a reception after the end of the wedding ceremony. The wedding reception is a time for the couple to share one of the most important days in their lives with their families and friends. In both countries, the couple often receives gifts from friends and family. The wedding ceremonies in America and Vietnam are different in several ways.The engagement ceremony in America involves the couple only and is often an intimate affair. The couple's decision to get married does not depend on the parents' opinion. In Vietnam, the engagement ceremony involves the couple and their families, since the couple has to ask for permission to get married. The couple's decision to get married depends of their parents' opinion. If the parents disapprove of the future spouse and does not approve of the marriage, then the couple does not get married. Many American brides prefer a white wedding dress. This is different in Vietnam, where red is the preferred color for the wedding dress, since it represents good luck and fortune. American wedding ceremonies can take place almost anywhere, depending on what the couple decides. This ranges from the church, government offices, beaches, gardens, among other areas. This is different from Vietnamese weddings, since the ceremony has to begin in front of an altar.In America, the groom waits for the bride at the wedding venue. In Vietnam, the groom's family has to go to the bride's house on the day of the wedding, and the bride's parents have to give their consent for the wedding to take place. In America, people such as religious and government leaders have the authority of marrying the couple. In Vietnam, the couple's parents can wed their children legally. In America, the couple is free to choose the wedding reception of their choice. Some couples choose to hold a simple wedding reception with very few friends and re latives. This is different in Vietnam. The wedding reception is a grand affair, where the couple invites many people. In America, the guests invited to the wedding can give their gifts at any time, including before the wedding. In Vietnam, the couples receive gifts from the guests at the wedding reception. In America, the couple decides which day their wedding will take place. In Vietnam, many couples seek the counsel of a fortuneteller, to tell them the most appropriate day for their wedding. Americans and Vietnamese enjoy having a wide variety of food options. People have the freedom to eat what they please. Both cultures eat cooked foods and vegetables, and they add fruits to their diets. They both use a variety of meat sources in their diet. In both countries, people eat three main meals of breakfast, lunch, and dinner during the day. Americans and Vietnamese use some culinary items when eating. The food and food cultures in the two countries differ in different ways. Food in th e two countries differs by region. In America, southern foods are different from the foods cooked in the other regions. This is the case in Vietnam, where the food in the northern parts differs

Foreign Direct Investment Essays

Foreign Direct Investment Essays Foreign Direct Investment Essay Foreign Direct Investment Essay Foreign Direct Investment Name: Course: Instructor: : Institution: Date: Foreign Direct Investment Foreign direct investments are the investments made by a company situated in one country to another company situated in another county. The company investing may make its investments by forming a subsidiary or an associate company in the country it is making investments. For example, a European company may take a majority stake in a company in Japan. The foreign direct investments cause an increase in growth, in the developing countries. It does this by accumulating capital in the developing country. FDI promotes the use of new inputs and foreign technology in the production process. It acts as a complement to the developing countries. It enables technological advancements in the developing countries. These technologies enable economic growth since they are efficient. In addition, these are the same technologies used by the multinational firms. This enables production good quality products enabling the developing countries to gain competitive advantage in the market. Technological ad vancement enables long-term economic growth in the developing countries (Cohen Oxford University Press, 2007). The foreign exchange rate policy also affects the developing countries economic growth. The foreign direct investments enable the developing countries to practice the key exchange rate reforms. This enables it to eradicate the real exchange rate misalignments. In turn, this enables the developing countries to experience a growth in their GDP. In addition, the foreign exchange rate policy enables trade liberalization. This enables the developing countries to experience an improvement in their international trade. They are able to trade with more countries by maintaining a constant high trade pattern, than before. By trading with more countries, they enjoy greater exports as compared to the imports. This prevents them from experiencing a deficit in their balance of trade. In turn, the developing countries gain access to the foreign currency that comes from the trade. This improves the developing country’s economic growth. The countries are also able to improve their terms of tra de. It can do this by raising their export prices permanently. This, in turn, increases the countries national income causing a growth in GDP. FDI enables the provision of capital to the developing countries. The multinational companies enable the transfer of capital in order to support the domestic savings. This leads to an increase in the domestic capital for the developing countries. This, in turn, increases the domestic investment. In addition, FDI increases the growth of the developing countries through promoting the returns in production. This is aided by its externalities and the spill over effects. FDI provides a knowledge channel for the developing countries. It provides knowledge to the countries engaging themselves in FDI. Example, FDI increases the flow of knowledge to the Japanese firms engaging in FDI. It also enables the provision of employment, which in turn raises the living standards of people. A new stock measure of the FDI centered on the employment enables access to a long-term effect of FDI in the states involved. This, in turn, increases growth in the developing countries, which finally increases the GDP. FDI helps in reducing the inflation rate and the government consumption, which in turn raises the GDP in the developing countries. Inflation control is a great macroeconomic stabilization policy. It is important for inflation to be controlled in order for the developing countries’ GDP to increase. On the other and, increasing the government spending reduces economic growth in the developing countries. Therefore, FDI helps in the reduction of inflation and government spending, a great barrier in the developing countries. With the achievement of this, the developing countries enjoy an increase in their GDP (Cohen Oxford University Press, 2007). References Cohen, S. D., Oxford University Press. (2007). Multinational corporations and foreign direct investment: Avoiding simplicity, embracing complexity. Oxford: Oxford University Press.

Example for Teachers Late Work Policy

Example for Teachers Late Work Policy Here is an example of a late work and make-up work policy that a teacher would hand out to students and parents at the beginning of the year. This was created using the article, How to Deal with Late Work and Make-Up Work. To be regarded on time, work must be completed by the beginning of the period on the day it is due. Short homework assignments will be stamped on time only at the beginning of the period. If we go over answers to the previous nights homework, you should copy answers while we check homework to save as a review, but you will not get credit for having done your homework. If the homework is collected without answers being given in class, you may turn it in the following day with a late penalty. Unfinished homework is not accepted. Larger graded assignments may be turned in late with a one-grade penalty for each day late. They will not be accepted after the fourth day they are due. You may not work on late homework instead of the days assignment. Attempts to do so will result in a zero for the late work. In the case of excused absences, you have two extra days for each excused absence not counting the day of your return. Since your assignment will have to be changed to a comparable assignment if graded assignments are returned before yours are turned in, you should ask me if you need to get an alternate assignment so you dont have to do two instead of one. Work due on the day of an unexcused absence receives a grade of zero. Long term assignments (assignments made at least two weeks in advance) are due the day of your return from an excused absence. If you are in school but excused from this class, you must turn in long range assignments between classes or at the beginning of lunch time in order to avoid late penalties.

Exploring Human Nature and Destruction Essay Example | Topics and Well Written Essays - 1000 words

Exploring Human Nature and Destruction - Essay Example For some it is to do in good for one another, for others it is just to make it another day. Human nature consists of moments of love, hate, passion, living and dying. In this case, it is destruction, both in war conflict and from the standpoint of considering suicide to end an internal war. A person is born and a person will die but it is what the person does in between these two milestones that is of importance. The purpose of life is unknown but while these writers look at a reflection of human nature, only each individual can narrate their own story. When looking at the references that William Manchester discusses, he analyzes the concept of war. He includes in his essay about Okinawa the concept that war has existed for several years. Manchester uses World War II as a reference discussing how it came to an end eventually with the United States being crippled in the middle of war by its opponents. Using a landing force, a fleet of 1200 ships as part of the United States invasion i n Okinawa, the people on these ships were subjected to attack from other ships in the sea and from the dropping of deadly bombs from the air. When analyzing the two enemy forces, the goals were similar: to destroy one another. The Japanese planned to attack the United States Marines as they approached the island by sinking the ships. Alternately, the Marines were on a mission to attack the Japanese by creeping onto shore and driving them into the sea (Manchester). While this is just a simple narrative of a historical event that deeply impacted the United States, it is evident that human nature was at work here. Both Americans and Japanese fighters were together in combat but were working against each other. Both sides of the war saw their opponents as enemies and the goal was to kill or destroy. Each side desired to win the victory of the war. Human nature is at work here because by just where a person was born determined which side they fought on. While many outsiders rarely know t he purpose of a war, the goal is always for their country to be victorious. It is like rooting for a team, wanting to see the opponents walk away, holding their heads in shame. Everyone wants to be on the winning team. Though human nature is not necessarily to kill, it is to fight for one's own side. When looking at this issue further, these U.S. Marines did not know each other when they walked into battle but they became teammates, fighting for their country, fighting for their lives and most of all, fighting for each other. Outside of war, they may have had nothing in common but in war, they let down all guards and help each other toward a common goal. Being an American or being Japanese gave each person in this war an identity. This defines battle lines and identifies the enemy. Marines more than likely had a feeling of hatred toward their Japanese enemies and as a result, aimed toward destroying them. When it comes to human nature, what goes on in one's mind that causes destruct ion? In war, it is the motive to devote oneself to their country and pray to come home to their families alive. However, some people self destruct as well, fighting a battle against themselves. This issue is discussed by Hoagland's essay discussing â€Å"Heaven and Nature,† and describes suicide. A person that is contemplating suicide is instead at war with themselves. Human nature is a different force here where a

Professional and Strategic Communications Essay

Professional and Strategic Communications - Essay Example It therefore fuses the pushing and the delivering through the communication of the best message through the right channels as measured against a well-considered communication-specific and organizational goals. Strategic communication always involves different professional disciplines that may include management, technical communication, advertising and media relations amongst other relevant disciplines. Successful strategic communication must endeavour to communicate in order to influence a target audience or group of individuals and must be rational and authentic. Therefore, strategic communication concerns itself with planning for the future, implementation of specific tactics and taking into consideration the dynamism of the environment. This paper explores both professional and strategic communication through the exploration of the important role that behaviour change plays in successful communication and the challenges in the management of communication. For effective profession al and tactful communication, it is important that the person or the organization observes certain factors. The person communicating must be able to determine his objective before embarking on the communication in that you should understand the message before expressing it to others as establishing the goal will make the communication is concise and appropriate. It is important to consider your relationship to the audience or the persons to whom the communication is intended to by keeping and adhering to your professional status in mind as you communicate to the audience in anticipation of their reaction to the message being conveyed. The person communicating must use the appropriate terminology to demonstrate his professionalism and competence in passing the message across. Professional communication dictate that the person stays in control of his body language as the audience normally evaluates the message and its intention based on the posturing and the choice or words as even th e most tactful message can repel an audience. Azjen’s Theory of Planned Behaviour (TPB) The Theory of Planned Behaviour (TPB) as espoused by Icek Ajzen is important as it helps us in the understanding the transformation in behaviour of a person as it predicts deliberate behaviour or that behaviour that has been planned. It was developed after the discovery of the fact that behaviour is not always fully voluntary and under control which was later taken as perceived behavioural control. Therefore, the Theory of Planned Behaviour (TPB) states that the actions by human beings are guided by three considerations which include the behavioural beliefs which are those that are due to the consequences of behaviour and normative beliefs that are those beliefs about the normative expectations of others. Another consideration is the control beliefs that are the belief about the presence of factors that may expedite or impede the performance of behaviour. These considerations argued by Ajz en are important in the changing of the behaviour of human beings. It is important

The Necessity of Human Touch in the Early Childhood Education Essay

The Necessity of Human Touch in the Early Childhood Education Classroom - Essay Example By changing laws and educating parents and teachers about good and bad touch, it is possible to increase positive touch in the classroom, while still maintaining a strong stance on child molestation and abuse. One of the primary concerns of educators is the potential for lawsuits when they touch students. While less than 1% of cases of child abuse stem from child care facilities, these centers are increasingly putting up barriers between teachers and children, in an attempt to limit lawsuits (Heller 1). Sharon Heller, an expert on infant touch, shares that many of these rules include such ideas as "caregivers are told to let hugs come from children, to not put children on their lap, and to not help children in the bathroom" (1). Children who spend the vast majority of their days in child care will receive increasingly less touch, to protect the teachers from lawsuits. This issue arises from the lack of understanding of parents, educators or children of the difference between positive and negative touch. Positive touch is any touch that indicates to a child that they are important, and that their feelings matter. This touch is always friendly in nature, and needs to be approved by both chi ld and adult. Negative touch is any touch that is not desired by one of the two people involved, or involves touching of any genital areas, often called "the swimsuit region." Nan Stein, an expert and Ed.D, suggests "It's absurd to outlaw touch in the name of preventing sexual harassment" (Milo 5). The importance of touch in human development has been known since H.P Harlow did his research on monkeys in 1958. He showed that baby monkeys would choose a cuddly fake monkey over a plain wire monkey who provided food (Milo 3). Historically, a lack of human touch has been linked to hyperactivity, superficial relationships, disorganization, and an inability to adapt to social norms (Blackwell 4). In cross-cultural studies, it has been proven that children in other countries receive significantly more touch than American children in schools, and have significantly lower rates of school violence (Milo 4). Touch has also been shown to play a significant role in decreasing the level of cortisol in the human body. Cortisol, while a necessary chemical, destroys brain cells when it is present in high amounts in the body. In children who are not regularly touched, the level of cortisol is significantly higher than in children who are regularly held and hugged by others. The effects of long term levels of high cortisol include poor performance in school, lack of ability to retain information, and overall lowered achievement. However, when children move into a nurturing environment, rapid improvement is seen, and cortisol levels quickly diminish (Blackwell 6). In looking at the research, it is clear that touch plays a significant role in human development, at both the emotional and physical level. In addition to the research on the effects of touch and child development, there is strong concern that a lack of touch, especially with young children, may also be a form of neglect and abuse. According to Tony Del Prete, a school guidance counselor, By modeling an aloof interpersonal style and becoming less humanistic with our youth, we may be sending the message that violent and aggressive touching (as seen on TV, movies, and

Integrating Values - The Legality, Morality, and Social Responsibility Essay

Integrating Values - The Legality, Morality, and Social Responsibility of Nike - Essay Example The criticisms that were leveled against the organization bring to light the legal implications of carrying out business. It is necessary for a business to have a strong legal framework. The legal framework of a business compromises of the nature of work that is to be performed, the financial assets of the business and the long- and short-term goals that the business aims to achieve (Nathanson, 1995). The legal structure of the business gives rise to legal expectations that the society has from the business. Thereby, there are certain legal responsibilities that all businesses are required to meet as a constituent of the social contract that it has with the society. The legal responsibilities of a business are in effect manifestations of the society’s perception of â€Å"codified ethics† and reflect the primary perceptions of just conduct as defined by the law. The business is accountable to the society for the fulfillment of this role; failing to do so, the business is subjected to a political process where the dissidents are dealt with. Thus, public companies are liable to certain legal responsibilities and are required to comply with them as part of their role in producing goods and services for the society. Nike, however, has been the subject of criticism due to the fact that its policies and practices have not been observant of the laws and legal responsibilities set forth for businesses. It was in the early 1990s that criticism against Nike’s practices began to come to light.... The legal responsibilities of a business are in effect manifestations of the society’s perception of â€Å"codified ethics† and reflect the primary perceptions of just conduct as defined by the law (Carroll & Buchholtz, 2008). The business is accountable to the society for the fulfilment of this role; failing to do so, the business is subjected to a political process where the dissidents are dealt with. Thus, public companies are liable to certain legal responsibilities and are required to comply with them as part of their role in producing goods and services for the society. Nike, however, has been the subject of criticism due to the fact that its policies and practices have not been observant of the laws and legal responsibilities set forth for businesses. It was in the early 1990s that criticism against Nike’s practices began to come to light. Nike has been a famous name in the clothing and sports items industry. Seeing the large market share that it had abroa d and the appeal of lesser manufacturing costs, Nike outsourced to a number of countries more than a couple of decades ago. There was nothing wrong in subcontracting work to other factories in the Southeast region. Nike did not violate any laws and argued that it provided jobs to many people in the poor countries (Hill & Jain, 2009). However its prime motive was to increment the profits it made and to bring down the costs of manufacturing. For many years before the criticism being levelled against the organization gathered substantial support, ethical and legal aspects of business conduct did not enter the cost-profit equation of Nike. Nike’s factories overseas had poor working conditions despite the

Role of Visual Culture in the Contemporary Cultural Diversity Research Proposal

Role of Visual Culture in the Contemporary Cultural Diversity - Research Proposal Example In their articles, Mirzoeff, Ruby, Sturken, and Cartwright argue despite being instrumental in globalization, the impact of visual culture in the assimilation of cultural diversity is still debatable. Therefore, there is need to conduct a research that answers the following questions: 1. What is visual culture in the context of classical and contemporary cultural diversity? 2. How has visual culture enhanced globalization? 3. Has globalization changed the contemporary perspectives of cultural diversity? 4. Has visual culture enhanced assimilation of contemporary cultural diversity? Literature Review Different authors and scholars have had varied views on the role of visual culture within the multi-cultural society in the contemporary world. In both his works, Mirzoeff (â€Å"An Introduction† 3; â€Å"Visual Culture† 4) argue that visual culture depends of the circumstances under which various images are made and this may not have a significant impact in changing the per ceptions of the viewers in relation to accepting and assimilating cultural diversity. Ruby (1345) also adds that stakeholders in the visual culture are only concerned with the personal interpretation of the image presented. Consequently, the viewers are likely to have varied perceptions especially given the negative and positive feelings created by the image thereby acting differently as in the example of the fetish (Fusco 368). This explains why some countries or regions would censor images to avoid the negative feelings and interpretations (Sturken and Cartwright 390). The idea of having varied feelings brings about the idea that regions and people are different and so are people. This has only worsened the situation in the assimilation of cultural diversity perspectives especially in the contemporary world. Another argument by varied authors and scholars on the impact or role of visual culture towards enhancing assimilation of cultural diversity is the idea of individualism. Ther e are studies proposing that instead of inspiring communalism and acceptance of the diversity in culture, visual culture has actually inspired individualism based on the magnification of contrasts that exist between regions or people. Sturken and Cartwright (389) argue that there has been an increase flow of foreign ideas courtesy of globalization. Such ideas tend to bring new information, new perception, and create more contrasts, which only lead to the acceptance that regions and people can never be equal (Mitchell 298). However, Mirzoeff (â€Å"An Introduction† 3) argues that despite the liberty of receivers to interpret the images in relation to cultural diversity, the receivers have continuously interpreted the images negatively and this invokes the idea that no regions or people can ever be equal. Ruby (1345) discusses the barrier of visual culture to enhancing assimilation of culture diversity on the on the basis of impact of current culture in the lives of people. The current culture has had significant impacts on the lives of people with reference to the cultures of the other people. This creates the idea of differences between various cultures. In addition, there has been an increasing tendency to make comparison and contrast, which only lead to the widening of the gap between different cultures. Consequently, it becomes difficult for the viewers or receivers to interpret visual culture on a neutral ground. The lack of neutrality continues to widen the gap between various cultures, which make visual culture to be a barrier in the assimilation of cultural diversities. Nevertheless, Rose (25) and Dikovistskaya (71) argue that through visual culture viewers and receivers have been

Clostridium Botulinum (Microbial form and function) Essay

Clostridium Botulinum (Microbial form and function) - Essay Example Clostridium botulinum Introduction Clostridium botulinum  is a gram positive, anaerobic, spore forming rod bacillus that produces exotoxin (protein), which paralyses the nervous system (Solomon and Lilly 2001). Botulinum spores are found distributed in mud, sewage, soil, marshy sediments in coastal areas and lakes, vegetables, fruits and in intestines of fishes and animals. Under specific condition, this bacterium may also grow in foods creating neurotoxin(s). When these toxin-containing foods are consumed, it results in a medical condition clinically referred to as botulism, which often causes death. The botulinum toxin produced by the Clostridium bacteria is the most poisonous substance found in the world, where 1 gram is potent enough to kill nearly 30 billion mice (Dilbaghi and Sharma 2007: 22). This Briefing Paper will aim to: a) present a brief background on Clostridium botulinum and nature of the toxin produced by it; b) the positive and negative aspects of the toxicity, how this toxicity acts and what is the treatment; c) review the therapeutic use of toxin produced by Clostridium botulinum (Botox) Discussion Background on Clostridium botulinum Clostridium botulinum is widely present in soil, and grows best under conditions where there is low oxygen. They can produce spores, which helps them to remain dormant until favourable conditions are available that support their growth. Clostridium botulinum is â€Å"sensitive to low pH (

Role of Visual Culture in the Contemporary Cultural Diversity Research Proposal

Role of Visual Culture in the Contemporary Cultural Diversity - Research Proposal Example In their articles, Mirzoeff, Ruby, Sturken, and Cartwright argue despite being instrumental in globalization, the impact of visual culture in the assimilation of cultural diversity is still debatable. Therefore, there is need to conduct a research that answers the following questions: 1. What is visual culture in the context of classical and contemporary cultural diversity? 2. How has visual culture enhanced globalization? 3. Has globalization changed the contemporary perspectives of cultural diversity? 4. Has visual culture enhanced assimilation of contemporary cultural diversity? Literature Review Different authors and scholars have had varied views on the role of visual culture within the multi-cultural society in the contemporary world. In both his works, Mirzoeff (â€Å"An Introduction† 3; â€Å"Visual Culture† 4) argue that visual culture depends of the circumstances under which various images are made and this may not have a significant impact in changing the per ceptions of the viewers in relation to accepting and assimilating cultural diversity. Ruby (1345) also adds that stakeholders in the visual culture are only concerned with the personal interpretation of the image presented. Consequently, the viewers are likely to have varied perceptions especially given the negative and positive feelings created by the image thereby acting differently as in the example of the fetish (Fusco 368). This explains why some countries or regions would censor images to avoid the negative feelings and interpretations (Sturken and Cartwright 390). The idea of having varied feelings brings about the idea that regions and people are different and so are people. This has only worsened the situation in the assimilation of cultural diversity perspectives especially in the contemporary world. Another argument by varied authors and scholars on the impact or role of visual culture towards enhancing assimilation of cultural diversity is the idea of individualism. Ther e are studies proposing that instead of inspiring communalism and acceptance of the diversity in culture, visual culture has actually inspired individualism based on the magnification of contrasts that exist between regions or people. Sturken and Cartwright (389) argue that there has been an increase flow of foreign ideas courtesy of globalization. Such ideas tend to bring new information, new perception, and create more contrasts, which only lead to the acceptance that regions and people can never be equal (Mitchell 298). However, Mirzoeff (â€Å"An Introduction† 3) argues that despite the liberty of receivers to interpret the images in relation to cultural diversity, the receivers have continuously interpreted the images negatively and this invokes the idea that no regions or people can ever be equal. Ruby (1345) discusses the barrier of visual culture to enhancing assimilation of culture diversity on the on the basis of impact of current culture in the lives of people. The current culture has had significant impacts on the lives of people with reference to the cultures of the other people. This creates the idea of differences between various cultures. In addition, there has been an increasing tendency to make comparison and contrast, which only lead to the widening of the gap between different cultures. Consequently, it becomes difficult for the viewers or receivers to interpret visual culture on a neutral ground. The lack of neutrality continues to widen the gap between various cultures, which make visual culture to be a barrier in the assimilation of cultural diversities. Nevertheless, Rose (25) and Dikovistskaya (71) argue that through visual culture viewers and receivers have been

Assistant Accountant at Mefic Capital company Assignment

Assistant Accountant at Mefic Capital company - Assignment Example nd Corporate Governance Mechanisms in Saudi Arabia I: INTRODUCTION 1.1 Background In this study the capital structure and the mechanism of corporate governance in Saudi Arabia would be discussed. The motive behind choosing Saudi Arabia is that I did my internship from MEFIC Capital Saudi Arabia, so it would be an added advantage for me in investigating the financial environment of the country. Moreover, my major is in Finance, which is why I have chosen to focus and explore the capital structure and governance mechanism. Discussion on corporate governance and capital structure has always been a challenge for the academic researchers in finance and accounting. 1.2 Research Objective The objective of this research study has been developed keeping in mind the issues to be considered for the study, learning outcomes and stream of study. 1. To identify diverse capital structure in Saudi Arabia and their implications 2. To identify the relationship between diverse capital structure and cor porate governance in the firms in Saudi Arabia. 1.3 Research Question What is the relationship between the capital structure of firms in Saudi Arabia with the external and internal corporate governance? II: LITERATURE REVIEW In this research paper, the discussion would be related to the capital structure decisions of the firms in Saudi Arabia and its association to the external and internal corporate governance system, which is generally considered to be one of the primary drivers in decisions related to capital structures. Various researches prior to this suggest that the capital structure is based on corporate governance decisions. Theories suggest that the size of the firm and profitability is negatively related to the debt equity ratio of the firm. These findings are in line with the... Various researches prior to this suggest that the capital structure is based on corporate governance decisions. Theories suggest that the size of the firm and profitability is negatively related to the debt equity ratio of the firm. These findings are in line with the agency theory, transaction cost theory or pecking order theory. It was found that the there is a negative relationship between debt equity ratio and market to book ration in case of assets, which also reveals that it is conflicting with the agency theory. On the other hand, in European countries tangibility has a positive relationship with the choice of capital structure and it is consistent with the agency theory. This study aims at discussing and analysing the capital structure with regards to corporate governance in Saudi Arabia. A quantitative analysis would be done to identify the relationship between capital structure and corporate governance, so as to identify an accurate association between these two major aspec ts in financial environment of Saudi Arabia. For this purpose a multiple regression analysis would be done for this study. A sample of 5-8 firms in Saudi Arabia in the securities market would be considered to conduct the study.

Gender Essay Example for Free

Gender Essay The history of gender and American policy is one crafted and based on historical events and changes in the men’s and societies’ view of women, especially as regards their roles in influencing policy change’s and implementation. According to scholars women roles for the past two centuries have improved remarkably if current events are to go by. Apparently, the study of gender as regards American foreign policy is a completely new aspect which has metamorphosed over the ages to became a crucial and significant approach of analyzing America’s foreign policies as regards, contribution to war, politics, economics and culture. In essence gender studies indicate the expectations, that the society holds to the different genders and the roles each group play. Dating back to the biblical times, the issue of gender and more so gender imbalance having been predominant in our society is, one coined on the society’s understanding and expectation of the male and female members of the society. It’s upon this that women over the ages have found themselves, marooned and dominated by men in major policies that have affected the society especially as regards warfare, diplomacy and violence. From ancient Greek, Roman, Babylonian empires, women have often being regarded as a weak gender compared to men, this has quite often led to maltreatment and abuse of women by the dominant male specie Braudy states â€Å"certainly the tradition of allying weakness with women and strength with men is a long one† (328). Its upon this conceptual thought that women have been destined, to play if any, a minimal role in matters of war. However it’s the statement of scholars and historians that though regarded as a marginalized group and less often actively involved in war, women â€Å"occupy a privileged place as an alternative source of national moral strength† (Braudy 328). In essence a good woman was always portrayed as pliant, submissive and subordinate. Thus the concept of gender imbalance has been with us for long, this was especially portrayed by the remarks and views held by male and society as regards women. For instance some scholars portrayed them as a â€Å"savagery within civilization† and as Braudy, states a â€Å"source of both fascination and disgust† (328). This is vehemently expressed by the 19th century view of women menstruation as a wound. However scholars do agree that progress has been witnessed over the ages as regards women role in society as research show that women have tremendously established themselves as a dominant force in society though, they still lack behind in a world where war, politics, economics, diplomacy issues are dominated by male. It’s thus upon this views that women remain less actively involved in war. According to scholars women have partly participated in wars and hence as history shows wars have been attributed to men. So is war a man’s affair. War and especially violence was, and still continues, to be a man’s affair in that men have always been attributed to intolerance and aggressive behavior, which is replicated in the art of war. Barash, states â€Å"if we could eliminate or even significantly reduce male violence we would pretty much get rid of violence† (1). For ages the art of war has been and still is dominated by men. For instance looking back at past war events ,its difficult to find any war which might have been instigated by a woman, on the contrary men have been responsible for all major wars and even violence related incidents in the society including genocide and homicide. Experts thus postulate that, war is a man’s affair in which men seek to dominate others, by the crudest of ways. It’s a concept that has been among the male species. The ancient warriors thus were taught to be strong and vicious, going contrally to that was risking ones sexuality in the sense that one would be braded as an â€Å"effeminate† a term often used to refer to men who were weak and coward. Thus it’s an agreed fact that a true warrior or man was identified on his possession of power attributed to ones manhood. Thus in order to show the effect of gender as regards war the male dominated societies used the most atrocious and ridiculous way such as castrating, homosexuality, masturbation and circumcision to humiliate individuals , thought to be weak, a trait that was attributed and reminisce of the women. This was done to portray other men as having qualities akin to women as demonstrated by the act of penetration. For instance during the ancient times homosexuality was used to render punishment on the male enemies. Sodomizing war captives was cogently used by Babylonians. Also studies indicate that war captives were treated on the basis of their gender in that women were raped, children enslaved while the males were subsequently killed and humiliated, in one incidence they were forced to masturbate while get the erect before being sodomized. This according to Trexler proofed to â€Å"show linkage between gender and humiliation in war fare† (20). By castrating the others scholars do ascertain that it was to be â€Å"a basic element in man’s fighting instincts. †(Trexler 19). To crowns it all, this acts were often instigated against other men in order to prove ones superiority over the others. Castrating and cutting the enemies manhood became a way of showing how the enemy had been subdued. This is depicted by the ancient Jewish society where warriors would cut their enemies private parts and foreskins to present to kings as a show of victory in war. In modern society violence and war is overwhelmingly dominated by male, for instance according to a researcher conducted in America, over 90% of homicide cases in America have been perpetrated by men. Moreover a great number of men are enlisted in the national army. What makes it more interesting is how terrorist groups are predominantly male established . In essence any where there is violence and war man is. It has thus been concluded that war is the art of man, as depicted by the studies of ancient history of warfare and current affairs. Barash cogently states that â€Å"what can be called killing establishment, soldiers, executioners, hunters, even slaughters is overwhelmingly male†(1). he concept of war and gender can thus be summarized as follows; war is a mans affair, violence and war is something that men direct at each other, men are the instigators and subsequently victims of their acts of violence, women are the victims of men’s warfare but not partakers or instigators and finally when people are murdered and slaughtered as in case of genocides and war, men are always the culprits. Religion and war According to Merriam-Webster Online Dictionary religion re fers to a personal set or institutionalized set of religious beliefs, attitudes and practices. In that point, the debate over whether religion is responsible for the many wars witnessed in the history of mankind has continued to rage with both critics and proponents ascertaining their views and subsequently providing proofs to justify and authenticate their claims. Before understanding this issues it’s important thus to define war. According to Merriam –Webster online dictionary war is thus a state characterized by hostility, conflict, or antagonism Thus the concept of intermarriage between religion and war and especially its contribution to war, its one which has found favour in the ideologies of atheist and scientist as such. So does religion cause wars? Religion has been the greatest threat to mankind and thus it’s been the cause of many bloody confrontations. Charles Kimball, states â€Å"It is somewhat trite, but nevertheless sadly true, to say that more wars have been waged, more people killed, and these days more evil perpetrated in the name of religion than by any other institutional force in human history. †(1) This has often led to some critics of religion pointing that, if man is to live peacefully then religion should be scraped or rather the belief in God should be descanted. Timothy Fitzgerald quips that; â€Å"religion should be regarded as a form of mystification and scrapped† (26). The contemporary attitude on religious contribution to war arises due to a number of factors or rather reason that is religious conflicts, religious wars, religious ideologies based on teachings of some religions and modern fundamentalism attributed to different religious groups. It’s the statement of scholars that the history of religions contribution to war in modern world and as regards organized religions is to be traced to the Roman Catholic which was responsible for some of the greatest conflicts in history of mankind. During the dark reign of the Catholic Church in Europe many people were slaughtered and mercilessly killed due to their beliefs. According to Hitcher, the church has a history responsibility for the crusades, persecution of Catholics, Jews and deserters (17). Thus the Roman Catholic Church which represents Christianity is accountable for grave atrocities that culminated in the murder, persecution of millions of people based on its principle of heresy. It’s been the overwhelming statement and consensus of scholars that the blood birth witnessed during the dark reign of the church by far surpassed the jihads. Also the pope at the time is believed to have contributed tremendously in influencing major wars at the time. On another point, historians ascertain that, the competition for support and the fundamental believe that one religion is superior than the other has fueled animosity between religious groups, often leading to bloody confrontations that have often led to war. Moore in describing about this competition states â€Å"it had to be cruel in the general sense that any group identity is liable to be formed in hostile competition† (29). Its was this religious dreams of superiority that led to the Islamic conquest and expansion during the 18th century ,at that time, its estimated that millions of people were killed and others taken as slaves. This competition among religious groups has often led to war between the different opposing religions. For instance according to Price most of the greatest conflicts such as the Northern Ireland, Bosnia, Iraq and even 9/11 attack are as a result of religious differences. These facts are clearly demonstrated in the crusades that were responsible for fighting the spread of Islam in Europe . during this time the pope coined what was termed as â€Å"just war†. Thus it was believed that some wars were justifiable especially if it entailed safeguarding the very cores of the religion. On their part the Muslim desire for expansion was characterized by forced conversion through war commonly referred to as Jihad. What has come to be the greatest threat to mankind in this century it’s also attributed to religious fundamentalism . Following the aftermath of the 9/11, the world witnessed the rise of terrorism ,a new tool used by Muslim fanatics and which is based on Islamic fundamentalism though the 9/11 event has been regarded by some as not influenced by Islamic fundermentalism,the facts point to the contrary . For instance the known mastermind of the attack and the leader of Alquieda, Osama Bin Laden ,in his speech calling for the murder of citizens in western countries attributed his action to Islam and more so the holy book Koran. These proofs to show that despite the denials by some Islamic leaders, the calls of Osama seek to justify the views held by majority of the Islamic community. The Muslim have also used the word â€Å"Crusade† to describe the policy of western countries especially America to occupy Islamic states. This is a symbolic meaning to the crusades, organized to counter Islamic conquest during the 18th century. It’s thus the belief of scholars, that the Islamic fundamentalism is based on religious beliefs of Islamic faith though some Islamic scholars do oppose these beliefs. Scholars have thus argued that the terrorist attack on America that killed innocent civilians could not have happened if not for religious believes. The Palestinian and Jewish conflict has been continuing for long, this conflict has often led to bloody confrontation between the two groups. According to scholars this conflicts is the brain child of religious fundamentalism based on Islam and Judaism. Thus critics do argue that the history of enmity between this two religious groups, bases its root on hard core ideologies attributed to the groups religious affiliations, thus as long as the groups seek to identify themselves on religious background, it will be hard to tackle has been their for long hence as long as each group seeks to identify the other in terms of religious background, it will be hard to tackle. This conflict has led to the extend of isolating the Jewish state of Israel from the rest of Middle East countries with calls by some Muslim fanatics and religious leaders for the murder of Jewish citizens. It’s thus the statement of historians that the Yom Kippur war between Israel and other Arab countries was as result of religious differences. Thus critic’s quip that religion has led to nations forming alliances on bases of religious believes, thus leading to conflicts which have led to emergence of hardcore ideologies and conflicts across the world. It has also been said that, religion has been instrumental in influencing wars in Europe. for instance the French religious wars are attributed to religion , Holt, says â€Å"the French civil wars which began with the massacre at vassy in 1562 and concluded with peace of the alass 1629 was a conflict of religion†(56) Different religions also have been known to encourage war of such is the Buddhism religion in which the tales of Bhagavad-Gita are based on war and made to justify war as an act of self protection, in its case Judaism and especially the old testament depicted war as necessary in order to defend the convictions of their teaching, in the bible the Israelites who believe that they are Gods children and the chosen ones called on God to fight for their course According to some studies conducted it has further been established that some individuals use religion in order to advance their political ambitions ,for instance , having used Jews and Judaism as a ladder to ascend to political power Hitler gained the channel he so much needed to murder 6 million Jews, in our modern society prominent personalities and politician have been known to make grievous remarks based on religious conviction, the calling by Iranian president for complete annihilation of the state of Israel and calling of Musl ims to unite against Judaism that stands for the Jewish state of Israel is a sure way of describing how religion has been used to sphere head murder of innocent civilians. A true religious individual thus does not advocate for violence. Thus according to proponents of religion it has subsequently been ascertained that the absence of religion in the modern nations especially communist did not deter their leaders such as Stalin from leading any less violently.  Despite the growing claims that religion causes war, proponents and researchers have criticized, this claims by ascertaining that religion and especially organized religions are peaceful the teachings of most religion call for peaceful existence of individuals, this is depicted by the teachings of individuals who have been ardent followers of their respective religions. According to martin Luther king Jr, the knowledge of God brings inner peace, in his teaching also he advocated for tolerance and use of non violence. Also Gandhi one of the staunchest supporter and believer of Buddhism advocated for the use of non violence (ahisma) in his philosophies which have become instrumental in influencing the thoughts and ideas of modern leaders.

Psychological Research Report on Perception Essay -- essays research p

ABSTRACT People are thought to be able to mentally rotate an object so as to be able to imagine it in a different orientation. In this experiment partcipants were presented with two three dimensional objects. Some of the pairs of objects where the same object and some of them where different objects. Partcipants were asked to identify whether the second object was the same as the first one in the pair, even though it was shown as being rotated around a set angle, or if it was a completely different object. The reaction time of the partcipant’s was found to be directly related to the degree of the angle of which the object was rotated. METHODS Participants A total of 11 subject participated in this experiment. These participants were from colleges and universities around the world. There was no personal information collected in this experiment such as sex or age or background. The only information gathered was the reaction time data. Participants in this experiment where informed about the nature of this experiment and asked to consent to participate in it. Materials This experiment was conducted over a computer terminal. Participants where presented with pairs of three dimensional objects. These objects consisted of 16 basic objects each presented in 4 different perspectives each adding up to a total of 64 separate presentations. Half of the object pairs presented where of identical objects but where one of the objects where rotated to a specified degree which were identified as same objects. The other half of the pairs presented where of objects that where mirror images of each other and also rotated around a given angle which where identified as different objects. Design and Procedure This experiment was... ...t are consistent with other experiments involving the mental rotation of objects in that in all of these experiments the time which it takes the participants to make a decision linearly increases with the angle of rotation. These results show that the processes of the mind are consistent with the geometric constraints of the real world. The greater the difference in the orientation of an object in reality is equivalent to the difference in the time it takes for a person to identify that object. This is obviously very helpful in the real world where objects can be imagined to be rotated and used as in the example of a dog which would turn a stick around so as to be able to fit it through a hole. It has been proposed that this ability to imagine objects in different orientations has evolved according to the rules governing physics and geometry in the real world.

Collective Bargaining and Labour Market Outcomes for Canadian Working W

Collective Bargaining and Labour Market Outcomes for Canadian Working Women I  Ã‚  Ã‚  Ã‚  Ã‚  INTRODUCTION: UNIONS, LOW PAY, AND EARNINGS INEQUALITY The major purposes of this paper are, first, to examine the impacts of collective bargaining on labour market outcomes for women workers in Canada, specifically with respect to pay, benefits coverage, the incidence of low pay and the extent of earnings inequality, and, second, to suggest ways in which positive impacts could be extended via the expansion of collective bargaining coverage. This part of the paper briefly reviews the literature on the impacts of collective bargaining on earnings, low pay, and earnings inequality, and Part II provides some background description of the labour market position of Canadian working women. Particular attention is paid to the situation of the majority of women who continue to work in lower paid, often insecure and part-time, clerical, sales, and service jobs. The central conclusion of the empirical analysis in Part III, mainly based on data from Statistics Canada's 1995 Survey of Working Arrangements, is that collective bargaining coverage, con trolling for other factors, has significant positive impacts in terms of raising pay and access to benefits, and in terms of reducing the incidence of low pay among women workers. However, the level of collective bargaining coverage for women is very low in precisely those sectors of the economy where women in low paid and insecure jobs are most concentrated, namely in private services and in smaller enterprises. Promoting better labour market outcomes for women workers accordingly requires a major extension of collective bargaining. Part IV of the paper briefly considers ways in which this could be achieved through trade union action and through changes to public policy. The 1996 OECD Employment Outlook comprehensively documented profound differences in the degree of earnings inequality and the incidence of low pay in the advanced industrial countries, noting that these two labour market characteristics are closely related in that "the incidence of low pay tends to be highest in those countries where earnings inequality is the most pronounced." While there is significant variation between countries, a generalized pattern is that continental European countries, particularly in Northern Europe, have a strikingly more equal distributio... ...omen in non-unionized jobs, while for men, the wage difference was about $4.50 - or 24 per cent. The wage premium associated with unionization is shown for selected subgroups of women and men in Table 3. It is notable that the apparent union wage premium tends to be higher for less educated workers, though this is more clearly the case for men than for women. This is consistent with the fact that managerial and professional occupations in the private sector have very low rates of unionization. Table 3.  Ã‚  Ã‚  Ã‚  Ã‚  Average Hourly Wages of Women and Men, by Unionization and Selected Characteristics, Canada 1995   Ã‚  Ã‚  Ã‚  Ã‚   WOMEN  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   MEN  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚   Union  Ã‚  Ã‚  Ã‚  Ã‚   Non-Union  Ã‚  Ã‚  Ã‚  Ã‚   "Union Premium"  Ã‚  Ã‚  Ã‚  Ã‚   Union  Ã‚  Ã‚  Ã‚  Ã‚   Non-Union  Ã‚  Ã‚  Ã‚  Ã‚   "Union Premium" All Age 15 to 24 Age 25 to 44 Age 45 to 69 Less than high school High school grad. Certificate/Diploma University degree Full-time Part-time Managerial/Admin. Professional Clerical Sales Services Blue Collar Firm size less than 20 Firm size 20 to 99 Firm size 100 to 500 Firm size + 500   Ã‚  Ã‚  Ã‚  Ã‚   16.68 11.23 16.92 17.37 12.16 14.60 16.56 21.38 16.90 15.95 18.59 19.49 14.47

Online Banking System

1. Introduction Online banking is an internet based account management service that allows to view our account balances and transaction transfer funds between authorized accounts, initiate loan payments, request stop payments on checks, order personal checks, download transaction information into your computer communicate with the bank using e-mail, and can include bill payment services bill payment services. On-line storage refers to a file of information (like a file on â€Å"students† or † courses) that the computer and the user can access immediately. The computer, in other words, is directly connected to the file. A database is simply a collection of on-line files to which the user can gain access Tape storage of data is inexpensive and reliable. Computer tape stores data much like audiotape and videotape store pictures and music, namely, in sequential order using magnetic impression on a thin film. Disk storage involves using magnetic impressions on a thin steel disk. The advantage here is that the information does not need to be in sequential order and the user can gain access to any piece of information immediately. Transactions Immediate Input Immediate Processing Immediate File Update On-Line Processing Online processing, which is now common involves transactions and processing them immediately. On-line processing systems use disk storage, which permits immediate access to specific items of information. In on-line processing, transactions are keyed into the system immediately and the system responds immediately. The master file is updated continually. The online has revolutionized the computer and communications world like noting before. The invention of the telegraph, telephone, radio, and computer set the stage for this unprecedented integration of capabilities. The online is at once a world wide broadcasting capability, a mechanism for information dissemination, and a medium for collaboration and interaction between individuals and their computers without regard for geographic location. In this paper online several of us involved in the development and evolution of the share our views of its origins and history. This history revolves around four distinct aspects. There is the technological evolution that began with early research on packet switching and the Arpanet (and related technologies), and where current research continues to expand the horizons of the infrastructure along several dimensions such as scale, Performance and higher level functionality. There is the operations and management aspect of a global and complex operational infrastructure. There is the social aspect, which resulted in a broad community of Internets working together to create and evolve the technology. And there is the commercialization aspect, resulting in an Extremely effective transition of research results into a broadly deployed and available information infrastructure. The online today is a widespread information infrastructure the initial prototype of what is often called the National (or Global or Galactic) Information Infrastructure. Its history is complex and involves many aspects-technological organizational and community. And its influence reaches not only to the technical fields of computer communications but throughout society as we move toward increasing use of online tools to accomplish electronic commerce, information acquisition, and community operations. 2. Importance of the study The banking business has been in effect since the importance and need of finance and money as well transaction in business. We got the banking culture in a usual form within the relationship between customers and bankers. In course of time banking became the inevitable part of our daily necessities through out our state. Banking business always appears to fulfill the need and convenience of customers in home and abroad. Nowadays, the banking business refurbished itself in accordance with variation in customer's need and utilization. Accordingly a larger section of population is still unaware of Online Banking owing to many reasons and legitimate crises. Moreover, this Online banking culture is such a culture or trend, as people ought to know, considering the issue. We should go forward to work immensely in this area or field as though this trend or culture spreads and gets access to the realization of people in no time. The money embezzlement in a bank poses tense and threat to the belief of people on bank, that man be eradicated through updated, modem service ensured in change of traditional banking management, therefore, my research work regarding this banking culture might grow the confidence, eagerness to large extent. On the contrary, this study would let the people and students be familiarized and come to a close contact in behalf of this banking system. 3. Objectives of the study: The primary objective of the term paper is to find out a feasible solution for the banking System of Bangladesh using a nation-wide network. Implementing a nation-wide Electronic banking system requires huge investment especially for the establishment of a backbone network. It really matters for a country like ours. But fortunately we need not go for establishing the backbone network; instead the high-speed optical fiber network previously owned by Bangladesh Railway can be leased partially to meet the requirement. This work also finds some comparison study with the existing system and finally focuses on few what-if analyses. The comparison study has been founded upon some important financial services such as fund emote transferring, letter of credit (L/C), assuring foreign exchange rate etc. It mainly finds the economic benefits. The what-if analyses have been formed using some internal matrices for performance evolution. The main objective of the term paper is to gather knowledge about the online Banking system and find out the consistency and inconsistency. I also try to adjust with the gap to be competent at the modem job market. The areas on which I have tried to give emphasis are: ? Working environment has and should be established. Identify the problems and prospects of online banking and recommends their solution. ? Justify the present supportive facilities, which are given by online Banking ? Interaction between different place with-in Bangladesh ? To show the influence of environmental situation on online. 4. Methodology of the study: Term paper is conclusive as well as descriptive in nature. Necessary Statistical tools have been applied to carry out the assigned study Following methods have been used to accomplish this proposed solution: ?  ¬ Basic principles of existing banking system (Bangladesh) ? Study the major drawbacks of existing system by interviewing the current employees of different banks. Interviews are mostly taken through emails and in some cases through telephone and Internet chat. ?  ¬ Study the existing IT infrastructure of Bangladesh in context of Bank by interviewi ng the developer of different banking software vendors ?  ¬ Study the E-banking system from different resources that are available in different websites, books and online journals ?  ¬ Some of the what-if analysis has been used to measure performance of the proposed solution. 5. Limitations of the study I have tried out best to collect the maximum information from the internet and Banks but I faced some problems: 1. Banks didn't provide all necessary information for their business secrecy. 2. Collecting data and preparing report is very expensive. 3. Times are not sufficient for preparing a very good report. As a result, information presented on the report might not reflect the utmost entire reality. Few data, which are gathered from secondary sources, could not match with present situation, because there was no annual report from the company. . 0 Findings and Analysis: 6. 1 The initial online concepts: The original ARPANET grew into the online, online was based on the idea that there would be multiple independent networks of rather arbitrary design, beginning with the ARPANET as the pioneering packet switching network, but soon to include packet satellite networks ground based packet radio networks and other networks. The online as we now know it embodies a key underlying technical idea, namely that of open architecture networking. In this approach, the choice of any individual network technology was not dictated by particular network architecture but rather could be selected freely by a provider and made to interwar with the other networks though a meta-level â€Å"Internetworking Architecture† Up until that time there was only one general method for federating networks. This was the traditional circuit switching method where networks would interconnect at the circuit level passing individual bits on a synchronous basis along a portion of an end to end circuit between a pair of end locations. Recall that Klein rock had shown in 1961 that packet switching was a more efficient switching method. Along with packet switching special purpose interconnection arrangements between networks were another possibility. Which there were other limited ways to interconnect different networks, they required that one be used as a component of the other, rather than acting as a peer of the other in offering end to end service. In an open architecture network, the individual networks may e separately designed and developed and each may have its own unique interface which it may offer to users and/ or other providers, including other internet roviders. Each network can be designed in accordance with the specific environment and user requirements of that network. There are generally no constraints on the types of network that can be included or on their geographic scope, although certain pragmatic considerations will dictate what makes sense to offer. Basically online is making up by networkin g of all branches. Any customer can collect money or deposit any amount of money, any branch of this bank. So modern world, online banking is call easy banking online system has two parts: Internal online system. External online system. Internal online system is any customer can deposit money or collect money from any branches of this bank. And external online system is any customer can deposit money or collect money or even pay his any kind of bill by ATM card or credit card. Online banking system is a powerful banking system for any banking transaction. For set up an online system need a lot of money. So which bank has only two or three branches don't want to set up online system. Online banking is secure. Every online bank is so confident of its technology that they guarantee the confidentiality of any transaction on the internet. Electronic payment is so easy. Just follow the instructions as outlined in the easy guide to electronic bill paying as it takes through the process. Step-by step or visit their bill payment tutorial as new things come on-line, well announce in these new area. The customer can get to it from their name page or as the customer â€Å"exit† online banking. They also e-mail their customers when there are changes in their bank, who has online banking system, they also have own website. In this website they must have obtain of online. Any customer can take the benefit of online service from this website. Every online bank sends customer's last month transaction report at their home. So check this report, to see what’s cleared and what hasn't. Customer's â€Å"Account summary† will display whether a bill payment was rejected. Mobile banking is the modify color of online banking. Any customer can take the benefit of online banking by phone. Any customer can enjoy the fabulous features of online banking even when they away from the bank. Mobile banking is the smart choice for busy People on the move and if they are already on online banking customer. It's available at no additional cost. Mobile Banking with a palm handheld adds an exciting new dimension to online Banking. Now customer can enjoy all the ease, convenience, privacy and security of Online Banking through a handheld computer that fits neatly in customer purse or pocket it’s the financial Imagine the freedom and control of viewing customer financial picture any time of the day of night, in the privacy of customer's own surroundings. Check the balances of saving accounts, business banking accounts, lines of credit, or VISA' credit card accounts; †¢ Transfer funds between accounts. †¢ Check the balances and details of your loan and mortgage accounts †¢ Pay your bills, †¢ Obtain up-to- the minute account information. Online Banking is anywhere you have Internet access, so it's never been more convenient to manage your finances. With online banking you can quickly and easily solution of the future and its there right now system Check your account activity and balances. †¢ Transfer funds and receive and pay bills. †¢ Contribute to your RRSP and double up on your mortgage payments †¢ Plus so much more. l management Enjoy all this convenience and control within the safety, security and privacy of Online Banking 24 hours a day, 7 days a week. 6. 2 Service Provided by Online Bank Most of the online Banks have the equivalence in the services. Considering the services of banks given, we can show the view of services offered based on the following forms given bellow: Services available | |Basic (Most bank offer) |Advanced (some banks offer) | |Check account balances |Apply for loans | |Transfer funds among accounts |Download information about accounts | |Pay bills electronically |Trade stocks or mutual funds | | |View images of checks and deposit | 6. 3 Description of Online banking service Online Ban king Service is an electronic service provided via the Internet that permits customer authorized access to Access information about certain deposits and credit accounts for which customer are authorized to view information. †¢ Transfer funds between authorized accounts. †¢ Request and receive confirmation of stop payment on a check. †¢ Enter an order for customer personal checks according to check order information on file. †¢ Download transaction information to personal financial management software or spreadsheet. Communicate with the Bank using the online Banking E-mail Feature. The service is provided free to charge except for Online Bill Payment and stop payment orders. The Bank may offer additional services in the future, which will be subject to these terms and conditions as from time to time modified. Fees and charges for online Banking Services and Bill Payment will not be changed without at least 30 days prior notice and shall be charged to customer acc ount. The service is generally available 24 hours a day, seven days a week; however, the service may be unavailable from time to time for routine software and hardware maintenance or due to unscheduled down time. 6. 4 General terms and conditions Anyone agree to indemnify, hold harmless, and defend this bank from and against any and all claims, actions, suits, judgments, and expenses ( including court costs and reasonable fees of attorneys, accountants , and expert witnesses) at us sole expense, arising from us failure to abide by the restrictions on use of the Online Banking Services set forth herein. He agrees that the following uses of the Online Banking Services are strictly prohibited: †¢ Unauthorized communication of any account information to any other person or entity. †¢ Unauthorized communication of any information concerning any password or other online access number, code, or identification or any other proprietary information belonging to any other person or entity. Use of the Online Banking Services to copy or to distribute or transmit copies of copyrighted materials belonging to any other person or entity is permitted only to the extent that the owner has provided express permission to the user Permit ting such activity and the Bank has also approved such use in advance. Copying or Distributing or transmitting copyrighted materials other than with permission as specified above is expressly prohibited. †¢ Communicating any absence or defamatory information. †¢ Use of the Online Banking Services in violation of any telecommunication, postal, or other local laws or regulations of the user's †¢ Any use of the Online banking services for any purpose other than conducting banking business pertaining to us account (s) with regarding Bank. 6. 5 Limitations and liabilities The Bank and its suppliers make no warranties or representations of any kind with respect to the Online Banking Services, whether express or implied including but not limited to merchantability or fitness for particular purpose and neither the Bank nor the Bank's suppliers nor anyone else who has been involved in the creation, production or delivery of the Online Banking Services assumes any responsibilities with respect to his use thereof. No oral or written information or advice given by the Bank, the Bank's suppliers or any of the Bank’s agents or employees shall create or increase the scope of a warranty or in any way decrease this limitation and he may not rely on any such information or advice. He explicitly agree that any liability of regarding Bank arising from the provision of Online Banking Services is limited to the fee he paid the Bank for the transaction which gave rise to the alleged liability. He expressly waive any claims for additional consequential, incidental, compensatory or punitive damages and agree that the damage provisions set forth herein are commercially reasonable in light of the value of such Online Banking Services (including the possibility that the fees he paid hereunder may not be sufficient to fully compensate for all losses, but such fees are in an amount as to make it unfeasible for us to be responsible for greater damages). Any cause of action concerning the online banking services or online bill payment services under the agreement must be commenced within one year after such cause of action has occurred and be filled the circuit Court of the sate of Oregon for Baker country. 6. 6 How does online banking work? Online banking offers many chances for consumers to do certain transactions over the Internet. They allow them to use online features, which are available on the web such as checking their account balance and other types of transactions. To use Internet features, consumers have to log in and type their account number with the password. This will enable them to view all the information they need of their accounts and by clicking on the type of transaction, they want. In addition to that, most online banks provide a proper privacy of the information related to consumers and maintains security aspects. There are many services that can be presented by the banks over the Internet instead of viewing accounts for consumers around the world. Paying bills electrically is also one of the most effective features of online banking. Consumers do not need to wait until receiving mails of bills if they use the electronic way of payments. More over, online banking can serve their customers with transferring their money between accounts, which could be as a real transaction in dealing with traditional banks. They also can contact their branches over the net by sending emails if they face any problem or ask for farther information. Architecturally, bank may design its Online Banking system in two ways: Central Server System Distributed Server System Considering the facts of telecommunication infrastructure, distributed system is preferred solution. So that, one branch can do its transaction and customers can get service even if the communication is disrupted. The foreign banks in our country use central Server concept. In these systems, all the branches log in the central server and perform transactions. Solid communication line is required for central server system. If the line is down, transaction hamper2. 4 Critical evaluation of online banking. 6. 6. 1 Bill payment services This applies to all checking accounts for which Online Bill Payment Service has been requested. He authorize regarding Bank to transfer funds in accordance with his payment request. Payment (s) will be deducted from his checking account and transferred to a designated vendor/merchant account based on the electronic instructions he authorize. The Bank will execute his request when instructed by him or his authorized representative, subject to the terms of this agreement and applicable disclosures. Consumer funds transfers are also subject to the Electronic Funds Transfer Act (EFTA). 6. 6. 2 Security procedures The Bank's financial standard security procedures are to request one’s online banking users ID code and password. User may change his/her password at anytime while online. He agrees that any use of the Online banking services indicates his acceptance of the Bank's security procedures. He agree that any request acted upon in good faith by the Bank in compliance with these security procedures whether or not authorized by him, shall be treated as his authorized request whether he paying his bills with Online Banking trading stocks with Action Direct Net Action or submitting a credit card application online, regarding bank financial group members have gone to great lengths to ensure your confidentiality and security. They use several layers of robust security methods including encryption, firewall and timed long outs among others to ensure his personal and financial information are kept private and confidential. With respect to his Online banking sessions, as an extra measure of security, confirmation numbers are issued with every transaction. To protect his password and online Banking session, they employ state of the art encryption technology. Encryption is presently the most effective way to achieve data security. That is why your browser must be compatible with 128-bit encryption in order to access Online Banking. Client privacy is an important issued both to him and to them regarding Bank is committed to respecting the confidentiality of them customer’s personal business and information. 6. 6. 3 Recording and records The user authorizes the Bank to record electronic transmissions between the Bank and him or any person acting on his behalf, to keep those records as long as we consider it necessary. If the bank records about a payment are different than the users records, recordings, including, but not limited to any payment instructions received by the bank. 6. 6. 4 Methods used to make the funds transferred The Bank may select any means for the transmission of funds which we consider suitable, including but not limited to Automated Clearing House (ACH). You should anticipate that payments made by ACH might take up to 4 days to be credited; other payments may take up to 10 days to be credited. The Bank is not responsible for performance failure as a result of a delay or interruption in transfer facilities, labor disputes, power failures, equipment malfunctions, suspension of payment by another bank or payee, refusal or delay by another bank or payee to accept the funds transfer, war , emergency conditions, fire , earthquake, or other circumstances not within our control. These difficulties may extend the time when payments are credited. 6. 6. 5 Incorrect instruction He agree that he are solely responsible for giving them correct instructions with regard to the account his wish debited, the time of payment, the amount of the payment and the correct payee. He furthermore agree that his obligation to pay the Bank the amount of the payment made on his behalf is not excused by his failure to give us accurate or proper instructions. He agrees that the Bank will not be responsible for any delay arising out of our attempt to obtain correct instructions. 6. 6. 6 Receipt, acknowledgement and execution of request by bank Payment request are considered received by the Bank after providing he with a confirmation number for his payments (s) and his payment (s) have been confirmed as correct by him at the end of the Online Bill Payment session. The Bank must have a certain amount of notice before paying a bill. In order to execute his order to pay a bill on the same day the request is received, the Bank must have the request before 12:00 noon, Pacific Time, of that day. If the request to pay a bill is received after 12:00 noon, Pacific Time, the request will not be made until the next banking day. 6. 6. 7 Payment of bank When the Bank makes him requested payment he authorized the Bank to automatically and immediately deduct form his checking account the amount of the payment. He also agrees that the Online Bill payment transaction fee will be automatically deducted from his account on a monthly basis. 6. 6. 8 Rejection of payment The Bank has a right to reject his request for a payment for reasons including but not limited to: insufficient funds or uncollected funds in the amount specified in his request; the Bank's inability to execute the funds transfer for the reasons set out above titled Method Used to Make the Funds Transfer or incorrect or incomplete instructions given by you. He recognizes that the payee may be advised of the reason a payment is reject. 6. 6. 9 Cancellation or amendment of payment If the Bank has received his payment request and he later decides he you want to cancel or amend that payment, he may be able to revise his payment transfer instructions. He will not be able to cancel or amend his bill payment request if it has already been executed by the Bank. The Bank shall have no liability if such cancellation or amendment is not effected, and he agree to indemnify and hold the Bank harmless from any and all liabilities, costs and expenses (including court costs and reasonable fees for attorneys, accountants, and expert witnesses) the Bank may incur in attempting to cancel or amend the payment. 6. 6. 10 Confirmation of payment execution and account statement All payee payments executed will appear on his monthly checking account statement. He should review his statement, or other notice, for any discrepancies in connection with his payments. If he thinks a payment was made incorrectly form his checking account. He must contact Pioneer Bank in writing upon discovery of the error or within 60 days after he receive the first statement or notice which has the discrepancy, whichever is earlier. Failure to do so will reliever the Bank of any obligation to compensate you for his losses and expenses directly related to the erroneous payment. 6. 6. 11 Duty of reasonable care The Bank shall exercise good faith and reasonable care in processing his payments. He shall similarly exercise good faith and reasonable care in observing and maintaining security procedures, in communicating payment requests to the Bank, and in reviewing Bank statements for any discrepancies. The Bank will use reasonable efforts in attempting to cause creditors to reverse any service fee or late charge, which is related to payment processing error or delay. He also understand that the Bank will not be responsible for any loss or penalty that he may incur due to lack of sufficient funds or other conditions that may prevent the withdrawal of funds from his account or cause delays of errors in his payments. He understand that the Bank will not honor any request to pay when there are not sufficient funds available for withdrawal of funds form his account or cause delays or errors in his payments. He understands that the Bank will not honor any request to pay when there are not sufficient funds available in his account. The Bank's rules on when deposited funds are available for withdrawal are outlined in the information he received when opening your accounts (s). 6. 6. 12 Limitation of liability He explicitly agree that any liability of regarding Bank arising from the provision of Online Bill Payment Services is limited to the fee he paid the Bank for the transaction which gave rise to the alleged liability. He expressly waive any claims for additional, consequential, incidental, compensatory, or punitive damages and agree that the damage provisions set forth herein are commercially reasonable in light of the value of such Online bill Payment Services (including the possibility that the fees you paid hereunder may not be sufficient to fully compensate for all losses, but such fees are in an amount as to make it unfeasible for the Bank to be responsible for greater damages) 6. 7. Features of online banking The features available from an on-line bank account are similar to those which are avail able via ‘phone banking or visiting the local branch. on-line banking features do differ between the banks, but usually include: 6. 8 The major principles are: 6. 8. 1 Online Bank ing Principles Supplement to consumers Union policy on Electronic money and Banking security: 1. Providers of on-line financial services should provide sites that are secure. Secure sites should include the most effective existing protections such as passwords and encryption, and should be routinely reviewed and updated to ensure that new security features are added as they are developed. 2. Financial services providers should be vigilant to expose imposters using their names or similar names to include consumers to reveal personal financial information. 3 . Federal and state regulations should carefully scrutinize the operating practices, security and solvency standards, and privacy policies of both on-line providers of financial services and of third-party providers, contractors and subcontractors. 4. Financial services entities should take responsibility to make the consumer whole for losses from computer crime not caused by the consumer; for security breaches; for failures and losses caused by third parties selected by the financial services entity or by its subcontractors; and for losses contributed to by the financial institution's sharing of customer data internally, with an affiliate, or with a third party. 5. Providers of on-line financial services should accept the responsibility to try to prevent, detect, and eradicate viruses and other security breaches. Viruses sometimes cannot be prevented, but some on-line banking contractors offered today attempt to eliminate all responsibility on the provider even to try to do so. Because a consumer's ability to access funds needed for daily living can be affected by viruses and other security breaches, on-line financial services providers should accept more responsibility than is commonly accepted by web site providers of lower cost, less financially sensitive products. 6. Banks should take affirmative steps to make on-line banking services available in neighborhoods where access to on-line services is low. This may include providing access and training in community centers, housing projects, and urban high schools, as well as other creative approaches. 7. On-line banking channels should not replace other channels that permit in-person activity unless and until there is clear evidence that all demographic groups (including age and income groups) are in fact bearing equally well served by on- line banking as by other bank channels, including brick and mortar branches. 8. Banks who provide special offers to internet customers must also have an effective method to make those offers available to customers without access to the internet. 9. Access to on-line banking services should not be tied to the purchase of another product or service, or to high minimum balance requirements. 10 . Banks and insured financial service providers who accept deposits nationally should not restrict their Community Reinvestment Act areas to the physical location of their home offices. 11. Banks and other providers of on-line financial services should protect and respect consumers' financial privacy. Information about account numbers, account balances, transaction patterns, specific transactions or similar information should never be provided to third parties, affiliates or internal divisions without the express permission of the customer. Material used to check permission should desirable all of the types of information that might be shared and with whom the information might be shared. 12. Banks who use an opt-out method should provide a means to exercise the opt-out directly through the sign-up process, in addition to providing a phone numbers or other methods. The customer who knows he or she wishes to opt-out at the time of signing up for on-line banking should not have to take a separate step to do so. If opt-out is used, it must include the opportunity to opt-out from information sharing among both affiliates and internal bank departments, as well as with third parties. 13. Financial services providers should not condition the provision of on-line services upon consent to share financial information with an internal division, affiliate, or third party, except to the extent that the internal sharing of such information id both necessary for the provision of the service and fully disclosed to the consumer. 14 Financial services sites should never store information about the consumer in any location where it can be accessed by a third party. On-line financial services providers should fully disclose the nature and purpose of any electronic markets they propose to place in the consumer's system, secure the consumer's consent to place those markets, and permit the consumer to decline to accept such markets. 15. Banks and others offering uninsured on-line financial services should prominently and effectively disclose which services, accounts, or products are not insured by the FDIC. At a minimum, insured and uninsured products should not be offered on the same screen. When linking from an insured to an uninsured product screen, special care must be taken to identify the uninsured nature of the products offered through the link. Providers should test their customer base to evaluate the effectiveness of these disclosers. Regulators should actively enforce these requirements, and should conduct their own tests to evaluate the effectiveness of disclosers. 16. Banks and other FDIC-insured entities should never permit their names to be used by or licensed to uninsured entities, nor to be used by any third party in a fashion that creates an impression that a communication from the third party is from the Bank. 17. Increases in fees and changes in material terms should be accompanied by at least 30 days advance notice. The notice should be sent by a means calculated to actually communicate the information to the customer. Posting information on the bank's web site about new fees or changes in material terms is not sufficient. 18. Providers of on-line financial services should make their contracts available before the customer must give personal financial information and should make those agreements available in a form which the customer can download, print, and retain in a manner that shows what the agreement was when the consumer entered into it. 19. On-line bill payment services, whether or not associated with on-line banking, should clearly disclose on the screen which is used to schedule the payment the date and time that the payment will be sent and whether the payment will be sent electronically or by ordinary mail. 20. On-line financial services providers should use the power of the electronic environment to facilitate more effective consumer discloser and education. 21. On-line banking services should meet the consumer protection and other statutory requirements and restrictions of the consumer's home state. 22. Disputes arising from on-line banking and bill payment should be resolved promptly, and should be at least as prompt as the voluntary time frame of not more than five business days to re-credit disputed funds which have been developed for debit cards. 23. If an arbitration clause is used, it should permit the consumer to choose whether to agree to arbitration after the dispute arises, and should provide fair, cost-effective procedures for the consumer. 24. On-line bill payment services should not impose an earlier time for stop payments than the time the payment could be stopped if it were made by check. 25. Financial services providers who use electronic mail to communicate with their customers should provide two-way 26. Customers wishing to close their accounts should be able to do so with an instantaneous electronic transfer of funds to another designated account 27. On-line banking contracts contain to provision presuming that a consumer is in receipt of information simply because the bank has sent or posted met information. 6. 9 Types of online banking: The common assumption is that Internet banking is the only method of online banking. However, this is not strictly the case, as several types of services are currently available: PC Banking- The forerunner to Internet banking has been around since the late 1980's and is still widely used today. Individual banks provide software which is loaded on to an SME's office computer. The SME can then access their bank account via a modem and telephone link to the bank. Access is not necessarily via the Internet. Internet Banking- Using a Web browser, a user can access their account, once the bank's application server has validated the user's identity. Digital TV Banking- Using the standard digital reception equipment (set top box and remote control); users can access their bank account. Abbey national and HSBC services are available via digital TV providers. One of its main selling points is that no account details are transmitted via the World Wide Web. Text phone Banking- HSBC has introduced this service to allow customers with text phones to check their balance, pay bills and transfer money. Internet banking can be split into two distinct groups: Traditional banks and building societies use the internet as an add-on service with which to give businesses access to their accounts. 6. 10 Critical evaluation of online banking 6. 10. 1 Advantages of Online Banking For consumers ? The privacy of customers. ? Online services are available for consumers 24 hours daily during the whole week. ? Customers might save time and efforts of doing their finance transactions. ? It will be easy for them to view all information they need clearly and simply. ? Searching of any branch of a bank will be accessibly by online users. For Banks ? One way of attracting more customers is to use their services. Increasing the bank's reputation around the world is well known by many people. ? It doesn't need to employ lots of suffer or bankers to deal with customers directly. ? Banks can deal simply with their branches all over the world with one network. 6. 10. 2 Disadvantages of Online Banking For c onsumers ? Some people feel uncomfortable to provide their passwords or any kind of information about their funds over the internet. ? Some websites might be difficult for consumers for the first time to check their finance. ? It is possible for banks to update their websites, which needs from consumers to type in again their data. ? It is necessary to have knowledge and skills on using the Internet. For Banks Banks may require big amount of money to establish a website with attractive features. ? They may lose their information if the network broke with other branches. ? Hacking and viruses will cause problems for online banking, which could broke and damage the information or 6. 11 Channels of Online Banking There are so many channels of online banking to get the online operation accomplished within a few branches of a bank in banking sector. 1. Wide area network (WAN): 2. WAN by radio link (Communication using Radio Frequency): By introducing Radio Link communication network WAN can be set up between Head office and branch office. It is a point-to-point communication network, which uses radio frequency. Radio frequency of that particular bandwidth should take the approval from Bangladesh Telegraph and Telephone Board (BTTB). WAN through Radio linking provides 11 mbps bandwidth. 3. WAN by V-set (Very small Aperture Terminal): Online communication between two single nodes VSAT can be installed. For this, a fixed amount of fees is to be paid to the satellite company for renting bandwidth each year. 4. WAN by optical fiber backbone line: â€Å"WAN† can be set up by installing a switch consisting 72 Fiber Optic port at the place of Main Server that can make a connection directly with the Commercial Bank's Head Office server by putting the Optic Fiber Line but this is very difficult and expansive. Data can be transferred and received through a continuous speed. It costs near about TK. 90 million that is lower than the VSAT connection. 5. WAN by T&T leased line: These are simple copper wire leased lines provided by T&T. These connections are the most cost effective solution and provide sufficient data transmission speed up to 19. 2 kilobytes (kbps). 6. 12 The major types of business models are: |Brokerage |Advertising | |Infomediary |Merchant | |Manufacturer |Affiliate | |Community |Utility | Each type of those business models has individual way to be used by any business. For example. Brokerage model depends on helping both sellers and buyers with their transitions. Brokers charge for fees of doing transactions depending on the value of business. This model can be business-to-business (B2B) and business-to-consumer (B2C) and consumer-to-business (C2B). Advertising is another kind of business models that operates with web advertising such as creating banners of the business. Infomediary model is used by a business interested in having information about consumers and products. Online banking follows the merchant type as a business model to generate its revenue. They sell services and products such as loans, credit cards and other facilities against gaining charges and interests or commissions. It seems to be similar as traditional banks with its business model of operating their income but with electronic services it could be more simple and faster than traditional methods. This kind of model can be business-to-business (B2B) and business-to-consumer (B2C). This means that online banks can provide and help consumers with loans, paying bills, opening accounts, credit cards and other services. Furthermore, online banking can offer certain services for businesses with the loans that invested in such projects . 13. Current Banking Security System Security is a vital issue for all financial institutions. Banks that provide services to customer must ensure security so those customers are satisfied about bank. In a sense, bank is a business organization so it is also their responsibility to maintain everything securely. Banks also maintain lockers for safekeeping the most important valuable assets of customers. To serve that purpose, bank takes some rent from customer; the same rule exists for safekeeping money, which will be also discussed in this chapter. To ensure the E-banking, there are some security principles that have to be provided by Banks. Because there are many transactions occurring in electronic media, so without securing the banking activities banks cannot run. Security principles are: 01. Authentication Authentication is the process by which two parties involved in a dialogue are given a guarantee that they are indeed interacting with whom they think they are interacting. Authentication might be from both sides- server authentication and client authentication. 02. Confidentiality Confidentiality deals with protecting the contents of message or data transmitted over the Internet from unauthorized people. For example, one wants to protect his/her credit card information when he/she purchases over the Internet. 03. Integrity Data integrity is related to preventing data from being modified by an attacker. For Instance, only the credit card number is protected while the contents of the order (online) are not. Then, the attacker could potentially modify your order while it is being transmitted over the network by adding or deleting contents from the order or even changing the delivery address. 04. Availability It is also important to guarantee that authentic users of an e-banking site expect to get his service when he needs it. Sometimes an attacker might set up a program that continuously attempts to be authenticated by the bank. But the authentication will repeatedly fail. However, attacker would occupy precious resources of the site. These resources become unavailable to the legitimate customers of the bank. 05. Non-repudiation Non-repudiation is an attribute of secure systems that prevents the sender of a message from denying having sent it. This might very costly for e-businesses such as online trading which want to ensure that a customer will not be able to deny having requested to buy or sell securities. 7. 0 Online Banking in Bangladesh Foreign Banks: 7. 1 HSBC in Bangladesh The HSBC Asia Pacific group represents HSBC in Bangladesh. HSBC opened its first branch in Dhaka on 17th December 1996, to provide personal banking services, trade and corporate services, and custody services. Through a lobal network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal, commercial, corporate, investment and private banking; trade services; cash management; treasury and capital markets services; insurance; consumer and busines s finance; pension and investment fund management; trustee services; and securities and custody services. HSBC is fully on line banking & without any hesitation I can say one thing that they are providing best services for the customers rather than the other foreign banks. Hexagon: Hexagon is an electronic Banking system through which HSBC group customers have access to information about their relationship with the group and may transact their business. The HSBC group recognizes that in order to maintain and enhance its position as a global financial service organization, it must continue to provide and promote a sophisticated global electronic banking system to both existing and new group customers. Hexagon may be used by small and medium sized businesses, large corporate, institute high net worth individuals and retail customers. The HSBC group is committed to the success and Hexagon and has allocated significant TSV and business resources to its development, management and marketing. Hexagon is run from three electronic banking computers (EBCs) is Hong Kong (HK), Buffalo (US) and Great Britain (UK), with links to group systems such as HUB and TREATS. The main features of Hexagon The products and services offered by hexagon to customer include: |Current account information |(CA) CA A1 | |Saving account information |(SA) SA A1 | |Loan account information |(LN) LN AI | |Credit care information |(CC) CC A1 | |Funds transfers (PA and TR) |PA/TR Payments | |Transfers Foreign exchange (FX) |FX A1 | |Time deposits (TD) |TD A1 | |Trade services | | |Imports and exports |IM/EX Report writer | |Documentary credits |DC import | The main benefits of Hexagon Hexagon gives customers direct access to there account 24 hours a day, 365 days a year from any where in the world. Benefits for customer include ? Increase in business efficiency ? Flexibility- the system may be tailored to the needs or particular customers; ? Easy to use, training is simple and no sophisticated equipment is required. 7. 2 Standard Chartered Bank Standard Chartered Bank’s online banking service is known as â€Å"I-Banking†. I-Banking offer the convenience of managing and controlling ones banking and finances – whenever he wants to, wherever it’s needed. I-Banking is convenient, simple and secure. I-Banking: Standard Chartered Bank’s I-Banking facility is simple and secure and it’s absolutely free of charge! With I-Banking, one can access any of the basic banking services he requires, 24 hours a day, 7 days a week, 365 days a years. I-Banking offers the following range of online service. Which makes the client’s banking accessible anytime and from anywhere. I-Banking includes the following services. ? Account services ? Fund transfers ? Payments ? Card services. ? Personal update Private Banks: 7. 3 Eastern Bank Ltd. Online Banking: Flex [email  protected] is the Internet banking solution that delivers the Corporate, Consumer and Investment Banking products to bank’s customers over the net. EBL’s Internet Banking module is a secure, robust and extensible web banking solution. It is anchored on a reusable component framework that complies with industry standards. Customers will be able to transfer funds, inquired balance, and request for chequebook, pay utility bills on-line etc. Internet Banking: EBL Internet banking application addresses the needs of small, individual and corporate account holders of the bank. This application provides a comprehensive range of banking services that enable the customer to meet most of their banking requirements over the net. List of Transactions: 1. Account Operations and Inquiries 2. Fund Transfers and Payments 3. Utility Bill payment 4. Deposits 5. Loans 6. Inquires and other services 7. Session Summary Deposits: ? Maintain deposits ? Request for rollover of deposits ? Request for premature closure of deposits Loans: ? Loan application requests ? Initiate part of full payment of loan ? View schedules of loan payments Inquiries and other services: ? Interest Rates inquiry ? Foreign Exchange Rates Inquiry ? Messages & Bulletins ? Internet Banking ? Product information ? Change password EBL with new ICT Infrastructure features: Essentially, EBL was not in a well-connected situation. Data communication was limited to secluded offices in a very limited fashion. EBL now is a different scenario. EBL HO is now connected with the branches all around Bangladesh. Here is a breakdown of what the data communication infrastructure looks like today: ? High Speed DDN and Radio Link connectivity between Branches and the Head Office ? Local Area Network (LAN)- providing data network connectivity at the Head Office and the Branches. ? Metropolitan Are Network (MAN)- connecting the DHK branches with HO, CTG branches with Agrabad and SYL branches with Chouhatta. ? Wide Area Network (WAN)- enabling the data network circle between Head Office and the Branches. ? Solid foundation over data and network security implementation. EBL Banking Benefits: Flex cube banking software automated in all branches of EBL has the adaptability for incorporating the delivery channels like, Internet Banking, Tele-Banking, ATM/POS, Home Banking, Wireless Access Protocol, Call Centre are all superb services which a customer can avail in due course. EBL’s repertoire of hardware is highly sophisticated; as no other banks in Bangladesh have availed this are recent times. The combination of hardware will help consolidate the backbone for the plethora of services provided to the customers by the Bank for the years to come. Moreover, EBL, country wish bade farewell to the lackluster range of hardware, which were in use over the year. ? Anywhere 24 hours ( 7 days banking ? Internet banking, Tele banking and ATM/POS ? One Stop Shop for all you banking need. ? Significantly reduced time in banking transactions Sophisticated customer information at the fingertips and can be provided anytime. ? Online Inter-branch Transfer ? Any Branch pay order Syste m ? Digital Signature/photo image while transacting ? Display Customers Balance, Transactions, and Statements online. ? Automatic Sweep in & out ? Locker Service Availability ? EBL 5 to 9 Extended Service ? Bill payment o Utility Service Bill o Tuition Fees o Mobile Phone Bills ? Versatile Products availability ? Fast Cash ? Fast Loan ? Auto Loan ? Consumer Loans ? High Performance Account ? Savings Insurance Account ? Monthly Income Plan ? Monthly Deposit Plan. Visa Electronic online debit card EBL Introduces the Visa Electron online debit card: Unique Features: 1. With EBL via Electron you can now draw cash from the Q-cash ATM network, 24 hours a day through out the year. No need to carry excess cash in you wallet. Your card is electronically linked to your EBL account. 2. EBL Visa Electron is also accepted at Visa merchants with Electronic P. O. S Visa Symbol, where you can pay for merchandise and services. 3. Acceptance- hassle free acceptance at network of Q-cash ATMs currently 10 and to be expanded up to 50 by July 204 and approximately 100 POS deployed in major cities. 4. Photo card- Displays your photo & signature on front of your card for enhanced security. 7. 4 Prime Bank Ltd. Online Branch Banking (Any Branch Banking) The Bank has set up a Wide Area Network (WAN) across the country to provide online branch banking facility to its valued clients. Under the Scheme, clients of any branch shall be able to do banking transaction at other branches of the bank. Under this system a client will to be able to do following type of transactions: ? Cash withdrawal from his/her account at any branch of the Bank irrespective or location. ? Cash deposit in/he account at any branch of the Bank irrespective of location. ? Cash deposit in other’s account at any branch of the Bank irrespective of location. ? Transfer of money from his/her account with any branch of the Bank. Any amount can be deposited or transferred under Prime Line. In the system, however, at present there is a limit for cash withdrawal through bearer or by account holder himself. Online Branch Banking Service: Is designed to serve its valued clients. Under this system, you shall be able to do the following type of transactions: ? Cash withdrawal from you account at any branch of the Bank. ? Deposit in you account at any Branch of the Bank. ? Transfer of money from you account to any other account with any Branch of the Bank. One Stop Utility Service Scheme Like any other country of the world, the people living in the urban areas of our country lead a very busy life. Time is very valuable to them. Despite this, they are to waste their valuable time at the counter of different Banks and other Institutions for payment of their monthly bills of different utility services like Electricity, Telephone, Water, and Gas etc. They, as such, face enormous difficulties for payment of their monthly bills in time. Such inconveniences of the urban people can be removed by making a management to collect all the bills of various utility services at One Point. Scope of Services: With this end in View, Prime Bank Limited has introduced a scheme entitle â€Å"One Stop Utility Services Scheme†. The scheme is designed to provide all the required services to the customer in making payment of their following bills on their behalf from the counter of the Bank: ? To pay Electricity Bills ? Cash deposit in his/her account at any branch of the Bank irrespective of location. Cash deposit in other’s account at any branch of the Bank irrespective of location. ? Transfer of money from his/her a ccount with any branch of the Bank. ? Any amount can be deposited or transferred under Prime Line. In the system, however, at present there is a limit for cash withdrawal through bearer or by account holder himself. Main features of Master Card Credit: ? Prime bank ensure high level of security by inserting your photograph on the card. ? 20 to 50 day’s credit from the data of transaction. When you receive you monthly statement, you can either choose to pay in full or just minimum due amount shown on the statement. No interest in charged if you pay in full within payment due date. 24 hours a day, 365 days world wide service. ? No joining/administrative fees. ? Waiver of annual fees for International Card: If you accumulate 20,000 Prime Bank Bonus Point for you Gold Card or 10,000 Bonus Point for you Silver Card in a year then you enjoy our Card without fees ($1 purchase: 1 Bonus). ? Waiver of annual fee for Local Card: If you accumulate 10,000 Prime Bank Bonus Point for you Go ld Card or 8,000 Bonus Point for you Silver Card in a year then you enjoy our Card without fees (Tk. 50/- purchase: 1 Bonus Point). ? The Highest Prime Bank Bonus Point holder can enjoy free air ticket Dhaka-Bankok-Dhka. (Business Class) ? Cash advance facilities. 1, 39, 00,000 locations accept Master Card worldwide. Facilities available wide the card: The card can be used for: a. Making payments to Merchants against purchase of all goods and services by the Cardholder from Merchant(s); and b. Availing Cash Advances: i. From any of PBL Branches or any member of Master Card of any Merchant authorized to make Cash Advances; as may be agreed upon by PBL or ii. By the use of the Card on any ATM of PBL or of Master Card. Subject to these terms and conditions and in compliance with such requirements, PBL, any Merchant or Master card may impose limitations and procedures as from time to time. 8. Role of Government This is particularly important for countries like Bangladesh where very little has been done in development these technologies and skills to promote and support online banking. The government can take the following policies to promote online banking in our country: 1. The intergovernmental agreement for harmonizing the rules and regulations that can help in smooth transformation of the world economy and expansion of a unified world market. 2. The regulations should simply foster competition, protect intellectual property and privacy, and prevent fraud to do businesses under whatever terms they agree upon. An international uniform commercial code is needed to simplify and encourage electronic commerce under consistent rules and rights. 3. Govt. an undertake perfect initiatives to construct feasible, platform of information technology within affordable capacity. Financial allocation should be more widen for global standard banking technology. 4. Adequate number of bank employee will ha ve both computer and banking aptitude and cognizance, suitable in the banking perspective to improve the banking sector. 5. â€Å"Tele-communication† sector is pre-conditions to make fastest online banking services. Unfortunately a tale-communication service of govt. is yet to reach to remote and rural area. 6. Frequent inflow of information technology in the shape of broad band internet access, sub-marine optical fiber utility processed, might be patronized by govt. apidly to step ahead in respect to information technology for enhancement of blessing of on line banking. As well, this linkage of internet service will be encouraging for implementation of online banking in Bangladesh. 7. A project of â€Å"software development† should be under process to continue the function of banking software and expertise of banking network. Thus, banks and bankers enjoy creating creditable, demanding and world standard services for the shake of greater interest of nation and economy . 9. Conclusion The main objective of this term paper was to come up with a feasible proposal for implementing nationwide E-banking as well as ensure security. To ensure security we proposed some of the security features that need to be implemented in various levels of the proposed infrastructure like application level security, IP level security, user level authentication as well as employee level authentication as it is very much needed to keep track who is responsible for transferring money from one account to another account. We have analyzed the problems of existing system and shown that our proposed system can overcome most of the existing problems: Currently in our country accessing and transferring fund from remote area is a difficult and time-consuming task. Naturally it now takes 3 to 25 days. The key point is to note that the fund to be transferred is kept idle for the delay period. The proposed framework very clearly shows that it is a huge loss of money when considered collectively. So, it gains a remarkable save both for the customers and banks. Letter of Credit (L/C) is an important service of a bank. It is directly involved in foreign trade. The more efficient and cost-effective the L/C operation is the better opportunity comes for foreign trade affairs which is a prime factor to escalate the national economy. Basically an L/C operation comprises of a number of sequential steps. Information Passing required for an L/C operation is now done by foreign courier services like DHL, FedEx etc. It requires much time compared with the electronic transaction. Moreover, an amount of TK 1000/= (on an average) is spent per L/C. Proposed online transaction system cuts down this charges almost to zero. It contributes a lot when a large number of L/C is considered (i. e. total no. Of L/C of a branch in a year). At the same time due to reduced processing time it increases the no. of L/C transaction. It is very frustrating to note that now few banks deceives the Central Bank by giving a wrong calculation of its total deposit. So, they deposit less money as CCR to the Central Bank. In our proposed infrastructure, the Central Bank is given the supreme mandate for any required information from any bank at any time without delay. It removes the risk of escaping or misleading the deposit of proper CCR amount. As a result Bangladesh Bank would be properly benefited. CIB (Credit Information Bureau) generation is another important factor especially for inland trading loan. Currently the process of CIB report generation is very complicated and time-consuming. Proposed system maintains an integrated database with his past transactions record. So it becomes a matter of few clicks and prints to generate CIB report. Besides faster computation it also assures that the information is authentic and updated. Another important factor for banking services is updating foreign exchange rate. Now each day the Central Bank announces the rates. Each bank gets information on an interval of 30 minutes. It ensures some sort of unexpected loss/profit for both banks and customers. The suggested system maintains a complete connectivity among all banks so the foreign exchange rate is always updated at each bank. 10. Recommendations As this research-based study on the â€Å"Online banking† lets me a provision to come to the closest contract of the original plot of this banking system. There are some recommendations to improvise the On-line banking in our country. 1) Autonomous Banking culture, reducing dependence on manual service, should be in abundance irrespective of govt. and non-Govt. rganization in association with ‘SWIFT’ to bring about the whole banking service for massive well being of people. 2) The report of taskforce with the title of â€Å"Banking sector reform† committee with 21 major clauses on score of extinction of horrendous and problem some context that usurps our banking sector, has elaborately expressed the imminent enactment of suggestions of taskforce for the be