Introducing “Government Finance Quasi-Capitalism”

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August 20, 2013 by apicomely

Personal Finance: Caution pays off in stocking up for school

Instead of a burst Bubble disciplining the hedge funds and enterprising Wall Street firms, the leveraged players were emboldened by a newfound GSE backstop, the Treasurys bailout of Mexico and Greenspans doctrine of aggressive activist asymmetrical policy responses. With the Fed and GSEs having so skewed market incentives, financial speculation ran wild. A series of spectacular booms and busts were commenced, including South East Asia, Russia, Argentina and U.S. and global tech stocks.

As an added incentive, offer to split the savings with your kids if the back-to-school shopping comes in under budget. Be label wary Teens and even young kids can be label-conscious, wanting just the right brand name on their backpack or jacket. But it can be risky to buy all the latest gotta-have-it apparel or accessories. The TV show your youngster adores today might be too uncool-for-school next month and he’ll refuse to wear the logo T-shirt or carry the lunchbox, no matter how much you spent. (Of course, if your child attends a school that has a dress code or requires a uniform, you have less to worry about.) Give teens choices, especially when they’re clamoring for trendy, pricey sneakers or designer jeans.

Micro finance bank drags loan defaulters to EFCC

RBI’s attitude towards the sharia-compliance concept is yet to be tested,” said Shariq Nisar, director of research and operations at Mumbai-based Taqwaa Advisory and Shariah Investment Solutions. Running a sharia-compliant financial institution under Indian regulations is still difficult and other firms are likely to stay on the sidelines pending the success of existing schemes before deciding to join in, he added. Islamic equity and venture capital products have attracted little demand in India and NBFCs could face the same fate, said Nisar. “NBFC business overall has been declining over the years.” The RBI issued guidelines for NBFCs in June, cracking down on debt issuance by an industry that relies heavily on capital markets to fund its business but has faced less regulatory oversight than banks.

India central bank allows non-bank Islamic finance firm

Officials of the anti-graft agency from Port Harcourt, Rivers State have already visited the bank to scrutinise the documents relating to the loans amounting to over N400 million. The loans were secured under the Delta State Micro Credit Scheme and National Poverty Eradication Programme (NAPEP) and the beneficiaries, especially government officials were expected to pay back through deductions from their accounts. However, due to alleged unwillingness to repay the loans, the debtors who saw the loans as their own share of the national cake changed their pay points from the bank to another, thereby making it difficult for any deduction. Managing Director of the micro finance bank, Mr.

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