Premium Essay

Education Saving Scheme

In: Other Topics

Submitted By preeyoruba
Words 611
Pages 3
Background
Companies’ environment consists of forces and trends that shape opportunities and pose threats. Some of those factors cannot be changed or influenced by the company. This is the “macro environment” of the company. And the issues are “uncontrollable” factors to which, the company has to monitor and respond.

One of the factors is the Social-Cultural environment. The society shapes the way people think, evaluate, and behave. People unconsciously absorb a point of view from the society that helps them define and rationalize their relationships to themselves, to others, to organizations, to society, to nature and to the universe.

These things are “uncontrollable”. Marketers have to pay attention to these factors and adopt necessary changes accordingly. The company more successful to evaluate predicts and copes with the changes, will more likely to become a successful one.

Education savings scheme

Prime bank ltd. is one of the leading fully licensed commercial banks in Bangladesh. It has introduced a Savings Scheme entitled “Education Savings Scheme” in accordance with the principles of Islamic Sariah i.e., on the basis of profit and loss sharing. This scheme is a result of Prime Bank’s observing the ‘Social-Cultural’ environment and reacting accordingly.

The sides of social cultural environment the bank has fulfilled are mentioned below.

View of themselves

In the matter of “self-gratification”, people differ in how they seek to satisfy their inner self. Some people may want to have fun, others may seek self-realization. Because there are a whole lot of different types of people, there are different views of themselves. Marketers must recognize this fact and react accordingly.

The education savings scheme is for the parents who want their children to study and get more educated. According to prime bank,

The scheme provides a unique…...

Similar Documents

Premium Essay

Ponzi Scheme

...Ponzi Scheme Keller Graduate School Forensics Accounting The Bernie Madoff scam truly made history. Bernie Madoff probably would not have been able to prolong this scam without the continued help of the Accounting Firm of Friehling & Horowitz CPAs PC, who at last reported purported to audit financial statements and disclosures of Madoff firm for the last 17 years. Ponzi schemed to help Madoff by trying to go undetected because of Friehling deceiving investors and regulators by declaring that Madoff enterprise had clean audit records. Ponzi’s scheme enabled Madoff by falsely stating in annual audit reports that F & H audited Madoff financial statements pursuant to GAAP, including the requirements to maintain auditor independence and perform audit procedures regarding custody of securities. F & H purported that the financial statements conformed to GAAP and the Friehling reviewed internal controls at Madoff firm. According to SEC complaint, Friehling knew that the firm regularly distributed the annual audit reports to Madoff customers, and that reports were filed with the SEC and other regulators. The complaint alleges these statements were “materially false”. The SEC alleges that Friehling merely pretended to conduct minimal audit procedures of certain accounts to make it appear that he was conducting an audit, and then failed to document his purported findings and conclusions as required under the GAAP. If properly stated those financial......

Words: 1133 - Pages: 5

Free Essay

Clustring Scheme

...American Journal of Scientific Research ISSN 1450-223X Issue 20(2011), pp.135-151 © EuroJournals Publishing, Inc. 2011 http://www.eurojournals.com/ajsr.htm A Survey of Clustering Schemes for Mobile Ad-Hoc Network (MANET) Ismail Ghazi Shayeb Albalqa Applied Univesity, Amman, Jordan E-mail: ismail@bau.edu.jo AbdelRahman Hamza Hussein Jearsh University, Jearsh, Jordan E-mail: Abed_90@yahoo.com Ayman Bassam Nasoura Jearsh University, Jearsh, Jordan E-mail: nassuora@yahoo.com Abstract Clustering has been found to be an effective means of resource management for MANETs regarding network performance, routing protocol design, Quality of Service (QoS) and network modeling though it has yet to be refined to satisfy all the issues that might be faced by choosing this approach. Scalability is of particular interest to ad hoc network designers and users and is an issue with critical influence on capability and capacity. Where topologies include large numbers of nodes, routing packets will demand a large percentage of the limited wireless bandwidth and this is exaggerated and exacerbated by the mobility feature often resulting in a high frequency of failure regarding wireless links. In this paper we present acomprehensive survey and classification of recently published clustering algorithm, which we classify based on their objectives. We survey different clustering algoirthm for MANET's; highlighting the defining clustering, the design goals of clustering algorithms, advantages of......

Words: 9559 - Pages: 39

Premium Essay

Labour Education and Extensive Employee Development Schemes Provide the Best Hope for Empowerment for Workers and for the Democratization of Work.”

...Labour education is mostly looked at as being practical and developmental in the work place. It is the way learning shapes the processes of work. (Bratton, Mills, Tyrch, Sawchuk, Workplace Learning, A critical Introduction 2004.) Labour education is schooling for union members. It is where the union members learn about issues in the workplace and beyond. They learn the grievance process, how to negotiate contracts, human rights etc. This training helps the union members understand their rights in the work place and helps their own cause. Unions usually offer this training to its members in house. (Athabasca University, Work and Learning, Education 406/Human Resources Management 406, Course Guide, Revision 1, 2009.) Unions can demand from their employers a form of education that takes place at work. Labour education has tools in its belt to help employees in the work place to learn. In their belt they use tools, issues and labour studies courses in labour education. (Bratton et al. (2004) found page 108). The tool courses are to help unions and thus help to represent their fellow workers, through their knowledge, to do a better job and understand their rights with management. These tools work on leadership, collective bargaining and grievance procedures. This helps to stream line the day to day activities of the work place to run smoothly. Issue courses are more tuned to racism, sexism and reorganization in the work place. This training is done to understand......

Words: 1606 - Pages: 7

Premium Essay

Tax Saving Schemes - India 2009 (Analysis & Comparision)

...INTERIM REPORT TAX SAVING SCHEMES (ANALYSIS AND COMPARISION) ICFAI BUSINESS SCHOOL HYDERABAD MUTUAL FUNDS AT A GLANCE Mutual Fund is an instrument of investing money. Nowadays, bank rates have fallen down and are generally below the inflation rate. Therefore, keeping large amounts of money in bank is not a wise option, as in real terms the value of money decreases over a period of time. One of the options is to invest the money in stock market. But a common investor is not informed and competent enough to understand the intricacies of stock market. This is where mutual funds come to the rescue. A mutual fund is a group of investors operating through a fund manager to purchase a diverse portfolio of stocks or bonds. Mutual funds are highly cost efficient and very easy to invest in. By pooling money together in a mutual fund, investors can purchase stocks or bonds with much lower trading costs than if they tried to do it on their own. Also, one doesn't have to figure out which stocks or bonds to buy. But the biggest advantage of mutual funds is diversification. Diversification means spreading out money across many different types of investments. When one investment is down another might be up. Diversification of investment holdings reduces the risk tremendously. On the basis of their structure and objective, mutual funds can be classified into following major types: • Closed-end funds •......

Words: 3056 - Pages: 13

Premium Essay

Pyramid-Schemes

...PYRAMID SCHEMES: Saving the network marketing industry by defining the gray by Kevin Thompson kevin@theadvocategroup.net copyright of Advanced Advocates, LLC. I. INTRODUCTION In these trying economic times, responsible network marketing companies are positioned to offer viable opportunities for people that desperately need them. They combine passion for products with individual ambition to create a powerful testimony to the unyielding principles of free enterprise. With a fair compensation plan, an exciting product, and proper education, independent agents across the globe (also referred to as distributors) can leverage the power of networking to dramatically change their financial circumstances. Network marketing companies are responsible for providing its distributors with marketable products and compensation plans that rewards and motivates the sales force. Ideally, the rewards are designed to be commensurate with the work performed. With a good product and a fair compensation plan, !! the average person is given an opportunity to completely redefine their finances while operating a home based business. Distributors earn income primarily in two ways. First, they can purchase products at wholesale and mark them up for retail sales, thus earning an immediate profit. Secondly, they can form a “downline” by recruiting additional distributors and earn commissions on their sales to customers and purchases for personal use. Since distributors are......

Words: 8420 - Pages: 34

Premium Essay

Retail Lending Schemes of Pnb

...Punjab National Bank Zonal Training Centre Ludhiana RETAIL LENDING SCHEMES Updated up to 31.05.2013 INDEX 1. HOUSING LOAN 2. CAR LOAN 3. PNB SARTHI (Two Wheeler loan) 4. EDUCATION LOAN 5. MORTGAGE LOAN AGAINST IP 6. PERSONAL LOANS 7. LOAN FOR PENSIONERS 8. ADVANCE AGAINST GOLD JEWELLERY/ORNAMENT 9. PNB BAGHBAN SCHEME 10. FUTURE LEASE RENTALS 11. SCHEME FOR FINANCING PROFESSIONALLY QUALIFIED MEDICAL PRACTITIONERS 12. PNB GRAMIN CHIKITSAK 13. SCHEME FOR FINANCING TRADERS (MODIFIED SCHEME) 14. SUPER TRADE 15. ADVANCES AGAINST FUTURE CARD RECEIVABLES 16. GENERAL GUIDELINES OF RETAIL ADVANCES 17. PNB SCORE – Rating model for Retail Loans - --------compiled by Kanwal Kumar, Senior Faculty, Zonal Training Centre, Ludhiana HOUSING LOAN Eligibility Purpose & Extent Individual & Joint Owners HUF is not considered as Joint owner. Purchase of Plot Rs.50 lac. However, RM & above may consider Loan up-to 100 lac in Metro and State Capital. Further, it be ensured that the loan amount for purchase of Land/Plot under any circumstance is not more than 60% of the eligible loan amount as per the repayment capacity. Construction of House Need based Purchase of Built House Need based Repair & Renovation Rs. 20 lac Cost of furnishing Max. 10% of the loan for repair up-to maximum of Rs. 2.00 lac Pari pasu Charge CH powers up to 20 lac to Govt. Employees Loan limit up to 30 lac Risk Weight is 50% Loan limit above 30 lac Risk Weight is 75% LTV Ratio more than 75% Risk Weight is 100%......

Words: 14606 - Pages: 59

Free Essay

Ponzi Scheme

...large scheme that if exploited correctly could allow him to acquire large amounts of money. However, Ponzi did not keep up with the International Postal Reply Coupons and instead had thousands of new investors paying him money which he then gave to old investors. Eventually, Ponzi's scheme was discovered and the entire entity collapsed, but not before making Ponzi famous enough to have the type of scheme named after him. His level of fame matched the amount for which his investors lost, about 20 million, or 225 million in today's dollar value. What is a Ponzi Scheme? A ponzi scheme is when a person swindles large amounts of cash from "investors" by promising high returns on their original investment. The scheme goes that a single person gets multiple people to give him/her money that they will in turn "invest" into something. The investees are never told what it is they invested in, just that they will get more money back this way then if they put the money in a bank. Within the allotted time the schemer brings them back their money and the profit they gained. The investees are so happy they in turn tell their friends and family who then invest with the schemer. The schemer takes this new money and gives it to the original investees. The scheme can only last as long as there are new investors, once the incoming money runs out the scheme collapses and only the original investors and the schemer are left with any profit. In the case of the Charles Ponzi's original......

Words: 987 - Pages: 4

Premium Essay

Retail Banking Schemes

...MAJOR PROJECT ON CUSTOMER PREFRENCES WITH REGARD TO THE RETAIL BANKING SCHEMES This Dissertation report is being submitted as a part of the requirements of the MBA (FINANCE) Program of Punjab Technical University ,Jalandhar. SUBMITTED TO: PROJECT GUIDE: SUBMITTED BY: Kamna Pathak MBA (FINANCE) 2 YR. ROLL NO. ……………. RIMT – IMCT Mandigobindgarh ACKNOWLEDGEMENT This study was made possible with the consultations, support and kind opinions from several people. So with immense gratitude, I acknowledge all those, whose guidance and valuable inputs have helped in the materialization of this project. No words are enough to thank Assistant Manager Mr. Rahul Kapoor of State Bank of Patiala, who not only inspired me to work on this project but also accepted to guide me a lot. In spite of heavy responsibilities and busy schedules, he always managed time to provide proper guidance. Clearly I owe a special in-depth of gratitude to my friends who created a motivating environment to work on this project and also helped me in understanding and reviewing major concept from various point of views. Finally I would like to be grateful to all those who directly or indirectly have been of great help and obliged me with their support and have helped me in converting my collection of data and information into a finely polished project. DECLARATION I Kamna Pathak of MBA(Finance) 2nd year, studying at RIMT-IMCT......

Words: 16224 - Pages: 65

Premium Essay

Geography- Water Management Schemes

...Water management schemes and how it helps to improve people’s quality of life Water management schemes are all the schemes in general that provides water to people, for example; water transfer schemes are one of the many water management schemes, water transfer schemes are projects that collect water from areas that have a higher rainfall and divert it to areas that have a greater need and a higher demand for water. Water is collected and stored in reservoirs for further use. Another example of water management schemes is sanitation systems which are in order for those who do not have access to appropriate sanitation. Overall, the water management scheme is a scheme that ensures that everybody has access to clean water and sanitation. Water is one of the most important natural resources which are essential for ALL living things. Water is used for drinking, washing, cooking and irrigation. There is only 3% of pure water in the world, that we can drink, 2% of that water is stored in icebergs, if the demand for water continues to increase at rapid rates; the access to water will become more difficult. Figure 1 In figure 1, the more successful countries which are MEDC’s and the more urbanised areas such as the USA, Canada Australia, Italy and France show that the more water they use per capita. They have the access to clean water, so they tend to take advantage of it and waste more, whereas the countries that have little access to clean water tend to......

Words: 2910 - Pages: 12

Free Essay

Ponzi Scheme

...CASE: ‘Ponzi schemes’ ‘Ponzi schemes’ are scams in which investors are promised exaggerated profits (often short-term) from supposedly can’t-miss investments. If and when early investors are paid returns, the money doesn’t come from actual investment gains; it comes from new cash pouring in from later investors.   Initially the promoter will pay out high returns to attract more investors, and to lure current investors into putting in additional money. Other investors begin to participate, leading to a cascade effect. The "return" to the initial investors is paid out of the investments of new entrants, and not out of profits. Often the high returns lead investors to leave their money in the scheme, leading the promoter not to have to pay out very much to investors; they simply have to send statements to investors showing them how much they earned. This maintains the deception that the scheme is a fund with high returns.  Ponzi scammers promise windfall returns, counting on their victims to be either gullible or greedy—and sometimes both. The appeal of quick and hefty profits is precisely why some people fall for Ponzi schemes, even though they clearly fall into the category of too good to be true. Charles Ponzi, an Italian immigrant living in Boston in the early 20th century, was a master at playing the gullibility-greed game. He was clever, yes, but more than that, he was charming and charismatic, easily convincing people to jump aboard his pie-in-the-sky schemes. He......

Words: 1504 - Pages: 7

Premium Essay

Wardha Scheme

...WARDHA SCHEME OF EDUCATION The Wardha scheme of Education, popularly known as ‘Basic education’ occupies a unique place in the field of elementary education in India. This scheme was the first attempt to develop an indigenous scheme of education in British India by Mahatma Gandhi, the father of our nation. As a nationalist leader he fully realised that the British system of education could not serve the socio-economic need of the country. At Round Table Conference in London (1931) he pointed out the ineffectiveness of the system of primary education in India and the alarming low percentage of literacy among Indian people. He held the policy of the British Government responsible for this painful situation in the field of mass education. Gandhiji said “I am convinced that the present system of education is not only wasteful but positively harmful.” It was in this context the concept of Basic Education emerged in the mind of Gandhiji. In this unit we will discuss the historical background, the Wardha scheme of education, its fundamental features, curriculum and merits and demerits of this system of education. The word ‘Basic’ is derived from the word ‘base’ which means the bottom or the foundation of a thing upon which the whole thing rests or is made o stand Mahatma Gandhi wanted to make the foundation of the educational edifice strong. It is with this objective that he put forward this scheme. This scheme of education is based on the national culture and civilisation of......

Words: 2276 - Pages: 10

Free Essay

Scheme

...Fraud Schemes and Fraud Investigation Acc 571 Instructor: Dr. Ole Ruankaew Diane Phillips November 22, 2015 Fraud Schemes and Fraud Investigations The problem that organization faces today, are employee fraud. Many organizations feel that long term success of any company comes from the quality of their employees and workers loyalty. While during my research, I discovery that Association of Certified Fraud Examiners, Inc. has shown that organization have lost five percent of their annual revenue each year because of employee fraud. Every organization needs to have a plan in places for fraud detention. In preventing fraud in the work place, a good strategy for any organization is to implement internal control. These are plans; programs and procedures put in place to safe guard the company assets, and ensure the integrity of its accounting records. As prevention fraud is much easier than recovering losses after a fraud has been committed. This study will focus on the case of Stanford Financial Group Company fraud in which Robert Allen Stanford, chairman of Stanford International Bank (SIB), was involved in a Ponzi scheme. Stanford was convicted of orchestrating a 20-year investment fraud scheme in which he misappropriated $7 billion form SIB to finance his personal businesses. The Stanford Financial Group claimed to have pulled in retail, wealthy and commercial investors from 136 countries on six continents. Lopez and Kuhrt was aware of what Stanford ...

Words: 1323 - Pages: 6

Free Essay

Saving

...it’s a file move error). g. Here’s what the contents of VSPROJECTS looks-like with just the one code solution saved: h. And…here’s what the sub-folder should look-like. There should be a folder and a .SLN (solution) file. Other files may exist. See the image below: i. If I drill-down further, into the sub-folder, I should see the image below. There are at least THREE MORE SUBFOLDERS WITH SUBFOLDERS BELOW THOSE…THERE ARE .CS FILES (C# FILES), AND A PROJECT (CSPROJ) file. If this stuff isn’t there, you’re messing-up big time. Stop and re-do all the above steps. j. This has to be done deliberately, consciously, carefully, and without distractions. You’ve got to focus on what you’re doing and where you’re saving things, or you’re just wasting your time. This is the key, as I explained first up, to ensuring project success. 1. TO ZIP a project, I want you to COPY that project from your VSPROJECTS folder on your desktop and put the project RIGHT on your desktop. 2. Right mouse click over the project, and press the Send To…>Compressed Folder. 3. A compressed folder of the same project name will be on your desktop. 4. This is what you upload for grading, etc. 5. Delete the ZIP folder and the extra project folder from your desktop (the folder you copied from Step 1. above…NOT the project folder in your VSPROJECTS folder, because THAT project folder is your permanent project). 6. I’ll go over this in class and we’ll......

Words: 937 - Pages: 4

Premium Essay

Saving on Income Tax

...majority shall increase their profits by resorting to a tool known as tax planning. Various methods of tax planning can be categorized into four categories which are short-range tax planning, long-range tax planning, permissive tax planning and purposive tax planning. Short-range tax planning means the planning thought of and executed at the end of the income year to reduce taxable income in a legal way. For example, at the end of the income year, Mr. Lee finds his taxes have been too high in comparison with last year and he intends to reduce it. It is possible to reduce it by going to great extent by making proper arrangements to get the maximum tax-rebates. This plan does not involve any long-term commitment yet it results in substantial savings in tax. Long-range tax planning means a plan chalked out at the beginning of the income year to be followed around the year. This type of planning does not help immediately as in case of short-range planning but is likely to help in the long run. For example, if Mr. Lee transferred shares held by him to his minor son or spouse, the income from the shares will originally be part of Mr.Lee’s income, however by transferring the shares to his spouse or his minor son the income received from the shares will be deemed as the income of his spouse and his son which based on circumstances may not be required to pay income tax. Permissive tax planning refers to the means of making plans which are permissible under different provisions......

Words: 3817 - Pages: 16

Premium Essay

Pyramid Scheme

...Pyramid schemes in albania essay 1- Introduction At the beginning of the year's 1990th, with the falling of the communism, many Albanians people went through the foreign embassy to left Albania and go abroad for a better life. They started to create a real income. In this time we have some mountebanks in the market which created the pyramid schemes and offered high interest rate. People invested in this scheme their savings. According to the data of the different official institutions, the number of the Albanian which invested in schemes is increased time after time. Deposits of these schemes take e big part of the GDP. This means that they have had an important role in our economy. Through this paper we want to give a general overview of phenomena of pyramid schemes and collapse that they afflicted. We will analyze the rise and favorite factors that encased prosperity of these companies for a long time and the way how they operated. Another point in our paper shows the impact and bankrupt causes that brought the fail of pyramid schemes. The last point shows the role of the institution that answered for minimization of crises effect. In our paper all the results will be accompanied with dates from different years. In the first chapter we will handle phenomena of schemes by focusing in three important cases a) we will give a short description for origin of schemes and the biggest schemes, b) in another case we are going to analyze the factor that took born of pyramid. c)......

Words: 3404 - Pages: 14