International Banking

Page 1 of 3 1, 2, 3  Next

View previous topic View next topic Go down

International Banking

Post  Admin on Sun 11 Mar 2012 - 0:19

Visit the websites of prominent banks in Mauritius.

(i) See what international banking services they provide. briefly reflect on your understanding of each of them ( dont just copy and paste!!)

(ii) What is private banking?

I want each of one to participate and comment on the postings of your peers.

Regards,

VP, Lecturer

Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

Re: International Banking

Post  Admin on Fri 16 Mar 2012 - 12:54

Question (i) Visit the websites of prominent banks in Mauritius. See what international banking services they provide. Briefly reflect on your understanding of each of them?

BANKS AND BANKING IN MAURITIUS

Banking in Mauritius is sophisticated with 20 licensed banks to undertake banking business. There are non-bank financial institutions authorized. However, al the banks here are free to do business.
The major banks have a dynamic banking system that is equally reliable. This banking system is controlled by the Mauritius Commercial Bank and has many small banks under them. The domestic banks assets approximately represent 100 percent GDP.

TOP PROMINENT BANKS IN MAURITIUS

Top banks in Mauritius are:

Mauritius Commercial Bank (MCB)

This is the largest and oldest banking institution that has retained its original name as well. MCB adapts to changes and meets all the new techniques to satisfy its customers. The Mauritius Commercial Bank Ltd. (MCB) is the largest banking institution in Mauritius, with international Presence in overseas including: Madagascar, Maldives, Mozambique, Seychelles, etc. MCB is awarded the Bank of the Year 2010 by the prestigious publication “The Banker”. According to Global Rankings by The Banker July 2010, it is ranked 743rd among the Top 1000 Banks and 25th in sub-Saharan Africa. Additionally it is also rated 134th worldwide in terms of soundness; 42nd for Return on assets; 116th for Profit on average capital.

The international banking services it provides:

Bank transfers
It ensures a direct transfer between you and the person of your choice in a matter of hours.

1.Swift transfer - Swift transfers are also available through MCB Internet Banking, which makes it even easier to transfer money by yourself wherever you are and whenever you want.

2.Bank Drafts - A bank draft is just like an office cheque. It is the cheapest way to send money abroad and is perfect if you are not in a hurry.



MoneyGram
MoneyGram is the perfect solution when you need to send or receive money rapidly and with complete peace of mind.

1.To send money - Whether you need to support your family, loved ones or friends who are living abroad or urgently need to send money.

Trade finance
Securing your shipment and a guarantee of payment, International Trade is becoming more complex every day and can be a risky business. To fulfil your trading needs, the Bank provides you with various methods of settlement to your international trade transactions - simplifying your trade process.

1.Import Services - Concentrate on your import business while MCB takes care of the rest. It provides you with various methods of settlement to simplify your trading needs.

2.Export services - Export safely and protect your business from default payment with a series of solutions.



State Bank of Mauritius ltd.

It has 42 domestic branches. It also has three branches in India and it is rated as the second best financial institution in Mauritius.

The international banking services it provides:

Global Business

Mauritius offers the benefit of a business-friendly but well regulated centre and a low tax jurisdiction with an extensive tax treaty network. The island has Double Taxation Avoidance Agreements (DTAAs) with 34 countries (7 awaiting ratifications) which benefit the Global Businesses.

The Global Business unit of SBM is an integral part of the Corporate, International and Investment Banking Division. We provide world class banking services to serve you by leveraging on our vast network of correspondent banks, bilateral arrangements with major international banks, and our presence in India and Madagascar and through our state-of-the-art technology.

We are a local bank taking full advantage of Mauritius as a well regulated and rated Global Business jurisdiction. With our strong asset base of USD 2.4 billion (Mar 2010) and a healthy credit rating of Baa2 (Moody’s long term foreign currency deposit rating) coupled with prompt decision making, we have the right profile to be your preferred banking partner.
Moreover another banking services SBM provides is the western union that is the tranfering of money throughout the world, and help investors from india to tranfer their money easily from Mauritius to india,



Barclays Bank (Mauritius)

Barclays has been operated in Mauritius since 1919, and is the third largest bank in the country. Its head office is in the country’s capital city, Port Louis. In 2008, Barclays was named Best Bank in Mauritius by emeafinance magazine. The bank also offers offshore banking services on the island, and asset finance leasing, through Barclays Leasing Company Ltd.
Our International Banking Division caters for the banking needs of non-residents who have economic interests outside Mauritius. The customer profile includes, amongst others, high net worth individuals, foreign institutional investors, offshore trusts, investment funds, venture capital funds and mutual funds. Barclays in Mauritius also offers cash custody services tailored to meet the needs of fund managers in this respect.

The International Banking services it provides:

Transaction Services Unit
Our team provides the execution of all payment instruments as per your request within the international standard time-frame of two business days. This service is provided in all the major trading currencies and facilitated through the Global Swift Network.

Barclay’s major products and services offer include:
1.International Money Payments
2.Multi-Currency Cheque Book
3.Fixed Deposit
4.Foreign Exchange and Derivatives Transactions
5.Investments in International Securities
6.Structured Investments
7.Securities Services
8.International Trade Instruments
9.US Dollar and EURO Deferred Debit Cards
10.Internet Banking for Corporate Customers.



HSBC Bank (Mauritius) ltd

HSBC offers extensive financial services through its 11 branches including personal banking, consumer finance, financial planning, payments, cash management, project finance, corporate, commercial and institutional banking, trade and export finance, corporate finance, securities custody and financial markets. HSBC operates the largest offshore bank in Mauritius.
The Trade Services (TSC) team in HSBC Mauritius provides a range of services that support the requirements of our Commercial Banking and Global Banking customers in their trade processes.

HSBC service both the Domestic and Global Business (now known as the “offshore”) market. Our staff are well equipped to ensure that the import and export transactions are managed effortlessly and effectively, providing our customers with the best possible opportunities to grow. Moreover, we are well placed between the Asia-Pacific countries and Africa and have Trade treaties with countries in both of these regions.

The international services it provides:

•Import services
HSBC offer a wide range of import services, delivered by our experienced trade team. With the support of our global network, we have HSBC representatives to assist your around the world.

Import-related services include:
1.Documentary letters of credit
2.Post-import finance
3.Shipping guarantees
4.Clean import loans
5.Transferable and back-to-back letters of credit

•Export services
Exporters can face significant risks when they undertake international trade, not least the fear of delay or non-payment. Whether you are a new or a long-established exporter, HSBC Trade and Supply Chain can help to reduce risks, allowing you to focus on growing your export business.

HSBC Mauritius offers the following products:
1.Export documentary credit confirmation
2.Export documentary credit negotiation and payment
3.Electronic export documentary credit advising
4.Export documentary collections
5.Pre-shipment finance
6.Post-shipment finance
7.Purchase/discount of collection bills
8.Loans against export

E-Solutions

When it comes to international trade services, HSBC has developed a range of cutting edge e-trade products and solutions to help improve the efficiency of your trade operations and bring you peace of mind. Whether you are an importer or an exporter, we can provide innovative e-solutions to reduce your trade cycle automate your supply chain and cut operating costs. As one of the largest trade finance institutions in the world, HSBC can help you simplify your trade processes with its advanced technology and put you in control of your operations.

Mauritius Post and Cooperative Bank ltd (MPCB)

MPCB is also known as one of the major bank in Mauritius offering an array of products encompassing corporate banking, treasury services, personal banking and trade finance.

The international banking services it provides:

•MoneyGram

MPCB Ltd is pleased to announce its association with MoneyGram International Money Transfer Services, which is one of the world’s leading payment services companies with a network of more than 100,000 agent locations in approximately 170 countries. The agreement has been signed with Thomas Cook Operations (Mauritius) Ltd, which is the main agent of MoneyGram in Mauritius.

1.Moneysafe
2.Moneyfast
3.Moneyeasy

•Import and Export Financing
Various trade finance facilities are offered at very competitive rates.

•Letter of Credit
For your international trade transactions, MPCB offers different types of documentary credits: Commercial, Transferable, Revolving, Red-clause, Back-to-back, Standby.







Standard Chartered Bank (Mauritius) ltd

It is a renowned bank in Mauritius focusing its activities on international banking business and servicing network and international clients.

Its international banking services include:
1.Offshore multi-currency accounts
2.International payments and transfers
3.Cash custodian facilities
4.Credit facilities
5.Structured trade finance
6.Debt syndications
7.Treasury products
8.Escrow agent

Other Banks

Banking in Mauritius with other banks is also very convenient as there are many banks features best services. Some of the banks are Deutsche Bank ltd, the Mauritius Commercial Bank ltd, African Asian Bank limited, South East Asian Bank ltd, the Hong Kong and Shanghai Banking corporation ltd, Banking of Baroda, and many more…
The Banks here are dedicated in encouraging as well as upholding the economic and financial steadiness. These banks are devoted towards increasing consciousness and comprehending its duties and actions. Management of all the public debs and deposits is done in a methodical way.


Question (ii) what is private banking?

Private Banks are banks that are not incorporated. A private bank is owned by either an individual or a general partner(s) with limited partner(s). In any such case, the creditors can look to both the "entirety of the bank's assets" as well as the entirety of the sole-proprietor's/general-partners' assets.

These banks have a long tradition in Switzerland, dating back to at least the revocation of the Edict of Nantes (1685). Private Banks also have a long tradition in the UK where C. Hoare & Co. has been in business since 1672. There were many private banks in Europe. However most have now become incorporated companies, so the term is rarely true anymore.

"Private Banks" can also refer to non-government owned banks in general, in contrast to government-owned (or nationalized) banks, which were prevalent in communist, socialist and some social democratic states in the 20th century. Private Banks as a form of organization should also not be confused with "Private Banks" (also Private Banking) that offer financial services to high net worth individuals and others.

Services Offered

As well as the financial products that you can get from your normal bank, private banking can offer you expert advice on investments and financial products. They can also help you to set up offshore accounts or easily transfer money internationally. The benefits of private banking are that you usually have a bank manager assigned to you that you can take to and get advice from when needed. Most transactions can be done over the phone, and there is no need to queue in a branch in order to transfer money or pay bills.

Cost of private banking

Obviously, private banking is not something you can get for free. If you are using the banking company for a variety of financial products or for investing large amounts of money, then the costs of the advice and assistance they give you might be lower. However, if you use private banking as simply a means for advice and basic banking, then the fees are likely to be a lot more. Basically, the more money you deposit and the more products you buy from the bank, the cheaper the private banking services will be.

Privacy

Perhaps the biggest advantage of private banking is that all of your affairs remain private between you and your designated bank manager. Other members of staff usually have to sign a non-disclosure agreement in order to work for the company. Although private banks are sometimes criticised for their lack of transparency, there are many genuine reasons why you might want your financial affairs kept private, not least for security reasons. Although private banking is generally for those with a lot of money, if you think you need a higher level of service than your current bank you should look at private banking options.

Advantages of Private Banking

It offers you the best solutions and conditions for growing you assets on the basis of your needs and goals. As a professional partner, we also offer you insurance and taxation consultations in addition to personalized complete solutions.

1.Personal team – a team consisting of professionals is always there to help you and your family.
2.A Private Banking client contract enables you to carry out all of your everyday banking over the phone, simply by contacting the team that is serving you.
3.A personal financial strategy will be prepared for you at least once a year.
4. We offer you investment management services with a full or consultation mandate.
5.You can also meet with the Private Banking Strategist.
6.You are served in privacy: meetings with you are held in the cosy rooms of SEB Private Banking on the 15th floor of the SEB headquarters.
7.You will also be invited to regular client seminars and other events.


Disadvantages of private banking

1.No of branches in rural areas: The private bank owners do not like to setup there branches in rural areas. The banking facilities remain confined to cities where sufficient deposits are available. A large part of population will be deprived of banking facilities.

2.Unbalanced growth: The management of privatized banks provides credit in specific areas and people. As a result, there is unbalanced growth in the country; especially rural areas may remain under developed where credit facilities do not exist.


3.Jobs for relatives: The management of privatized banks may provide jobs to their friends and relatives. The deserving persons are ignoring.

4.Loans for few persons: The management of privatized bank can extend loans of their favoured persons. In this way only few persons are benefited.


5.Owners association: The aim of privatized banks is to earn profit. For these purpose owners associations are made which enter into agreement of earning high profit. The bank can increase the rate of service charges. Such associations may not care for customer's welfare.

Regards;
Seeruttun Oujwalsingh (ID 111439)





Last edited by Admin on Sat 17 Mar 2012 - 0:20; edited 1 time in total

Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

Re: International Banking

Post  Admin on Fri 16 Mar 2012 - 15:27

See what international banking services they provide. Briefly reflect on your understanding of each of them.
International banking is the process in which financial institutions allow foreign clients; both companies and individuals to use their services. Perhaps the most talked-about international banks are located in Switzerland. However, many other countries have fully developed international banking infrastructures. Many individuals and companies participate in international banking to minimize (or evade) their tax liability. This strategy, however, has certain disadvantages. In addition, several international organizations have made recent efforts to curb the use of international banks as tax havens.

Barclays bank ltd (Mauritius)
Mauritius has a wide network of double taxation treaties with emerging economies in Africa and Asia. These treaties offer attractive opportunities for offshore companies and international and limited life companies which are incorporated in Mauritius. These companies may operate administrative headquarters, re-invoicing centers, trading offices or even distribution outlets within the vibrant Mauritius Freeport.
International Banking Division caters for the banking needs of non-residents who have economic interests outside Mauritius. The customer profile includes, amongst others, high net worth individuals, foreign institutional investors, offshore trusts, investment funds, venture capital funds and mutual funds. Barclays in Mauritius also offers cash custody services tailored to meet the needs of fund managers in this respect.
The corporate vehicles available to carry global business activities from within Mauritius are companies holding a category 1 Global Business License (GBC1), companies holding a Category 2 Global Business License (GBC2). Other entities available are trust, protected cell companies, limited partnerships and Global Funds.
International Banking Division is divided in different sub-departments:
1) Global Business Clients

Our team is the main point of contact for management companies. We deliver a relationship proposition that adds value at all levels of contact and acts as the single gateway team into Barclays and the wider group.



2) Corporate Clients
We are a dedicated team who serve corporate clients operating globally;
-incorporated in Mauritius as Global Business Companies or-
-international companies incorporated or based in a countries other than Mauritius ,
-multinational companies (MNCs),
-Special purpose vehicles (SPVs) based in various offshore jurisdictions.
We offer a range of services and products to companies:
-Credit facilities - short term loans and working capital finance, medium and long term loans in a variety of sectors
-Structured financing
-Foreign exchange and derivative
-International trade instruments- LC issuance, guarantees, bill discounting and documentary collections
-Syndicated Loan Market. Participation in Syndicated loan market by actively seeking transactions in London/Far East /Africa
-Escrow account services
3) Securities Services

Our team has established itself as the leading provider of tailored custody and securities administration services to both local and international institutional investors in Africa.
Client base:
-Banks
-Fund Managers
-Mutual and Pension Funds
-Stockbrokers/Dealers
-Insurance Companies


Markets Covered:
-Botswana
-Egypt
-Ghana
-Kenya
-Mauritius
-Uganda
-South Africa
-Tanzania
-Zambia
-Zimbabwe
We have an extended Africa reach through Agent Network to:
-Cote d’Ivoire
-Malawi
-Morocco
-Namibia
-Nigeria
-Tunisia.
The Services we offer:
-Settlement of securities trades.
-Safekeeping and registration of the securities.
-Nominee facility.
-Income collection.
-Corporate Actions management.
-Proxy voting services.
-Reporting.
-Allied banking and foreign exchange requirements.
-Comprehensive tailored client reporting.
-Global Custody outreach where regulations permit
We are committed to the development of a sophisticated securities and custody service in Africa's emerging markets. Our services are offered on either a direct operational basis or via an agent network.

4) Account Opening Team
We have a dedicated team driving the account opening process. At the dawn of this new business era, where customers are becoming more sophisticated in their needs and with an ever growing expectation, our account opening team understand the dynamics to be more customer-oriented, strengthening our procedure with the implementation of new processes such as Lean to reduce waste and ultimately delight customers.

5) Transaction Services Unit
Our team provides the execution of All payment instruments as per your request within the international standard time-frame of two business days. This service is provided in all the major trading currencies and facilitated through the Global Swift Network.
Our major products and services we offer include:
-International Money Payments
-Multi-Currency Cheque Book
-Fixed Deposit
-Foreign Exchange and Derivatives Transactions
-Investments in International Securities
-Structured Investments
-Securities Services
-International Trade Instruments
-US Dollar and EURO Deferred Debit Cards
-Internet Banking for Corporate Customers.
Bank one ltd
International services include :
1)banking
-Accounts in major currencies- for Global Business, Trust, Foreign Company, Fund, Non Resident Individual (Checking accounts in MUR also available)
-Call interest bearing accounts, term deposits in major currencies at competitive rates.
-Escrow account Services
2) Cash management
Excess cash may be parked in term deposits at convenience competitive rates.
3) Payments Services
-Inward remittances free of charge
-Outward payments at competitive rates and commissions
4) Financing
-Project financing- Medium and long term loans
-Working capital finance-Overdrafts, Bill Discounting, availing bills, Issuance of guarantees.
-Structured finance
-Equipment Financing
5) Trade Services
-Import Services -Letter of credit facilities ,bill collection services
-Export services- advising &confirming of Letter of Credit

6) Foreign Exchange Transactions
-Arrange spot , forward and swap deals in hard currencies at competitive rates

7)Investment products


-Authorised sales agent for IPRO funds
-Authorised sales agent for Merrill Lynch Fund for specific products-Credit Lines
Afrasia bank
With world-class strategic partners and a passionate team of experienced bankers, AfrAsia Bank has regional and international cross-border capabilities to deliver tailor made solutions with tangible benefits.
Our experienced team and regional foundations in Mauritius, South Africa and Singapore give you the reliability and trust of a global banking network delivered with boutique service and speed.
We deliver customised services focusing on:
-Corporate & Investment Banking
-Private Banking & Wealth Management
-Treasury products and hedging services
-High yielding multi currency deposits
-Project Finance including Integrated Resort Scheme (IRS) and Real Estate Scheme (RES) for developers and buyers
-Comprehensive range of Trade Finance services & facilities
-Structured Investment Products
-Investment opportunities to Indian Equity/Debt Market as Foreign Institutional Investor (FII)
-Global Custody and Brokerage services through our partners

Standard bank
Standard offers offer a comprehensive range of trade financing solutions, including:

-Import and export financing: this includes refinance of import LCs/import loans as well discounting of export LCs, to ensure that our trade partners have immediate accessibility to cash for operational needs.
-Pre-export financing: providing finance to enable our partners to have the ability to fund their purchases prior to any cross-border sales.
-Documentary credits and collections: we provide our clients with LCs from an internationally recognised bank while also undertaking to efficiently verify any document coming through our counters.
-Receivables financing and invoice discounting: we will work with our clients to structure the appropriate funding line on the back of their debtor book.
HSBC Bank (Mauritius) ltd
International services include:
•Import services
HSBC offer a wide range of import services, delivered by our experienced trade team. With the support of our global network, we have HSBC representatives to assist your around the world.
Import-related services include:
1. Documentary letters of credit
2. Post-import finance
3. Shipping guarantees
4. Clean import loans
5. Transferable and back-to-back letters of credit
•Export services
Exporters can face significant risks when they undertake international trade, not least the fear of delay or non-payment. Whether you are a new or a long-established exporter, HSBC Trade and Supply Chain can help to reduce risks, allowing you to focus on growing your export business.
HSBC Mauritius offers the following products:
1.Export documentary credit confirmation
2.Export documentary credit negotiation and payment
3.Electronic export documentary credit advising
4.Export documentary collections
5.Pre-shipment finance
6.Post-shipment finance
7.Purchase/discount of collection bills
8.Loans against export
E-Solutions
When it comes to international trade services, HSBC has developed a range of cutting edge e-trade products and solutions to help improve the efficiency of your trade operations and bring you peace of mind. Whether you are an importer or an exporter, we can provide innovative e-solutions to reduce your trade cycle automate your supply chain and cut operating costs. As one of the largest trade finance institutions in the world, HSBC can help you simplify your trade processes with its advanced technology and put you in control of your operations.



What is private banking?
Private banking is banking, investment and other financial services provided by banks to private individuals investing sizable assets. The term private refers to the customer service being rendered on a more personal basis offered to a bank's rich, high net worth individuals (HNWIs) with liquidity over $2 million. It is now possible to open some private banking accounts with as little as $250,000 for private investors.
Private banking is no more for old aristocratic families discussing their inheritance with pinstriped bankers in oak-panelled offices. In fact, today's private bank clients are just as likely to be city whizz-kids banking their bonuses, internet entrepreneurs, pop stars and footballers, as the scions of wealthy families. Some private banks forge links with other professional services companies, so they can offer mutually beneficial services to clients. Clients get attractive rate of interest, as well as easy access to credit. They can also make purchases on a Visa deferred debit card, which means they can earn up to 30 days' extra interest on their money, with all purchases being debited on the same day once a month.
The main service is advice and wealth management. The days are long gone when clients could phone their high street bank manager for a chat about their investments. Nowadays, they are more likely to be routed to an overseas call centre, but a private bank customer will normally be given an adviser, who can help him or find him someone to give you a specialist who can.
This could include investment advice, particularly on overseas investments, and help with setting up offshore accounts for overseas transactions, or for tax benefits where they apply. Private Banks also provide access to specialist investments such as private equity, hedge funds, currency funds and derivatives - normally the reserve of institutional and sophisticated investors. Customers will also obtain advice on compliance with international law, such as money laundering and currency export regulations, where these apply. In order to set them apart, some private banks offer you advice on esoteric investments, such as racehorses, works of art, antiques, wine, bullion commodities and foreign property purchase in exotic locations.
Advices are also given on loans and mortgages, including those on overseas property, and even boats and aircraft. Having a relationship with a private bank will provide you with a route to transactions that need approval from an overseas regulatory authority; for instance, large transfers of cash or artworks; which the bank should be able to arrange for clients. It should also be able to help with providing them with credit references, for instance when raising credit in a country where they have no previous credit history, or assist them with other routes to raising cash that they need for a particular transaction.
Private banks make money in a few ways. The first way that is through selling managed accounts which results in recurring (annuity) revenues for the bank. A managed account is one where the client does not have discretion; rather the discretion is up to the bank. For example, a client comes in with $10M and puts it all in a managed account. The bank charges a management fee that the bank gets on a quarterly basis in perpetuity (or until the client leaves).

Private banks also make money through selling brokerage products. Think of this as the classic "eat what you kill" scenario. Typically, clients will have a brokerage account in addition to their managed account (now they may only have a managed account or they may only have a brokerage account in some scenarios). A brokerage account would be used for selling one off products, such as an IPO (initial public offering), a structured product, etc. For example, think back a few months ago when Goldman Sachs was supposed to lead a private placement for Facebook. GS's IB structured the deal, but GS's Private Bank client got exposure to this deal as well.
United States is one of the largest countries in the scale of private banking because the high number of wealthy people who live in the United States, with its 3.1 million HNWIs accounting for 28.6% of the global High net worth individual population in 2010, according to the co-research of Capgemini and Merrill Lynch

Lav Beeharry (111408)

Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

Re: International Banking

Post  Admin on Fri 16 Mar 2012 - 15:52

(i) International banking is the business carried on by or with a bank that is registered, located or operated in a foreign country. It includes such financial services as lending and account payments secured by a bank customer from an international bank. It is sometimes called offshore banking
Barclays Offshore Banking Unit in Mauritius is a full branch of Barclays Bank Plc, United Kingdom. Barclays Offshore Banking Unit was established in 1989 and was the first Offshore Bank in Mauritius.
Services of the bank include currency, international inward and outward payments, multi-currency cheque books, interest bearing call accounts, foreign exchange and derivatives transactions, structured investments and custody services amongst others. Accounts can be held in any major currencies.
The Hong Kong Shanghai Banking Corporation, , offshore Banking Unit, In Mauritius operates as a branch of the Hong Kong Shanghai Banking Limited and is a principal member of the HSBC Group. The HSBC Group has been operating in Mauritius since 1916 and currently has a network of 11 domestic branch offices and one Offshore Banking Unit.
Services of the HSBC, Offshore Banking Unit, include personal banking, corporate and investment banking, trade finance, treasury and foreign exchange, electronic banking, cash management and securities custody as well as clearing services.
AfrAsia Bank Limited offers the following services:
• Corporate & Investment Banking
• Private Banking & Wealth Management
• Treasury products and hedging services
• High yielding multi currency deposits
• Project Finance including Integrated Resort Scheme (IRS) and Real Estate Scheme (RES) for developers and buyers
• Comprehensive range of Trade Finance services & facilities
• Structured Investment Products
• Investment opportunities to Indian Equity/Debt Market as Foreign Institutional Investor (FII)
• Global Custody and Brokerage services
Standard Bank (Mauritius) provides comprehensive range of trade financing solutions, including:
• Import and export financing: this includes refinance of import LCs/import loans as well discounting of export LCs, to ensure that our trade partners have immediate accessibility to cash for operational needs.
• Pre-export financing: providing finance to enable their partners to have the ability to fund their purchases prior to any cross-border sales.
• Documentary credits and collections: The bank provides their clients with LCs from an internationally recognised bank while also undertaking to efficiently verify any document coming through its counters.
Standard Chartered Bank (Mauritius) ltd

It is a renowned bank in Mauritius focusing its activities on international banking business and servicing network and international clients.

Its international banking services include:

1. Offshore multi-currency accounts
2.International payments and transfers
3.Cash custodian facilities
4.Credit facilities
5.Structured trade finance
6.Debt syndications
7.Treasury products
8.Escrow agent
ABC Banking Corporation Ltd aims to provide international banking services to sophisticated, high net-worth and international clientele including companies, trusts and individuals involved in the Global Business Sector. .

Products
• Call Deposits: At attractive rates
• Term deposit account: At attractive rates
• Current account: Non-interest bearing


Services
• Excellent customer service with 24 hour accessibility
• Relationship banking
• Extended cut-off times
• Same day confirmation of transaction subject to cut-off times


(ii) What is private banking?
Private banking is about much more than traditional banking services of deposits and loans. It's about providing the personal one-to-one service that is essential after a certain level of wealth. It's about finding creative solutions to complicated situations to help affluent individuals and their families manage their wealth today, and develop new sources of wealth for future generations.

From international tax and investment services to specialist advice for family offices, a private bank proposes a comprehensive menu of sophisticated products and services that cater for the particular financial needs of a rich client.
In addition to providing exclusive investment-related advice, private banking goes beyond managing investments to address a client's entire financial situation. Services include: protecting and growing assets in the present, providing specialized financing solutions, planning retirement and passing wealth on to future generations.

While an individual may be able to conduct some private banking with $50,000 or less in investable assets, some exclusive private banks only accept clients with at least $500,000 worth of investable assets. The rationale is that such high levels of wealth allow these individuals to participate in alternative investments such as hedge funds and real estate. Furthermore, this level of wealth often prevents
problems.
For example, in Mauritius, HSBC provides
• Management of wealth: Private banking is about building relationships. We believe in providing a service that is personal, and personalized. The bank begins by understanding your individual financial needs, and endeavour to find the best solutions to fit your inevitably unique situations
• Develop and protect your wealth for the future: It is as important to manage wealth today as it is to plan for tomorrow, and for the future generations. With one of the largest trust businesses and a global network of investment services spanning six continents and all major markets, HSBC Private Bank strongly believes in securing the financial future, and in finding new sources of wealth.
• Managing the impacts of wealth: Wealth can present unique lifestyle situations. Whether an individual is buying new homes, investing in art or even relocating overseas. Specialists offer expertise in areas including philanthropy, property investment, tax advisory and media.


Advices are also given on loans and mortgages, including those on overseas property, and even boats and aircraft. Having a relationship with a private bank will provide you with a route to transactions that need approval from an overseas regulatory authority; for instance, large transfers of cash or artworks; which the bank should be able to arrange for clients. It should also be able to help with providing them with credit references, for instance when raising credit in a country where they have no previous credit history, or assist them with other routes to raising cash that they need for a particular transaction.
Keshav Seetaram(111440)





Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

Re: International Banking

Post  Admin on Fri 16 Mar 2012 - 16:41

(I) see what international banking services they provide. Briefly reflect on your understanding of each of them (don’t just copy and paste!!)
International banking is the process in which financial institutions allow foreign clients (both companies and individuals) to use their services. Perhaps the most talked-about international banks are located in Switzerland. However, many other countries have fully developed international banking infrastructures. Many individuals and companies participate in international to minimize (evade) their tax liability. This strategy, however, has certain disadvantages. In addition, several international organizations have recent efforts to curb the use of international banks as tax havens.

In Mauritius several banks offer international banking services such as Mauritius Commercial Bank (MCB), State Bank Of Mauritius (SBM), Barclays Bank (Mauritius), Hong Kong Shanghai Bank (Mauritius) Ltd, Mauritius Post and Cooperative bank of Mauritius Ltd(MPCB), Standard Chartered Bank (Mauritius) ltd.

For example they provide offshore banking. An offshore company administers companies with Global Business License 1 and 2, funds and many others. These companies must have their main bank in Mauritius. Offshore Banking is therefore responsible for the opening of these bank accounts and carrying out the transactions of the offshore sector. Some transactions include asking for due diligence documents, effecting payments, informing clients when accounts are in debit, providing preferential rates of interest.etc..

You have the HSBC which provides around 30 international banking services such as offshore import and export services HSBC offers a comprehensive range of trade finance services and facilities which are ISO certified , offshore e- banking which enables access via the internet to bank accounts maintained in Mauritius and at offices throughout the world, HSBC Amanah Islamic banking accounts. HSBC Amanah is the global Islamic banking division of the HSBC Group, and was established in 1998 with the aim of making HSBC the leading provider of Islamic banking worldwide. With more than 300 professionals serving the Middle East, Asia Pacific, Europe and the Americas, HSBC Amanah represents the largest Islamic banking team of any international bank..etc..

The Mauritius Commercial Bank provides international banking services such as:
1. Swift money transfer - swift money transfer is a type of international wire transfer that is an electronic means of moving money from one country to another.

2.Bank Drafts - A bank draft is just like an office cheque. It is the cheapest way to send money abroad.
Some international services provided by the Standard Chartered Bank are:
1. Offshore multi-currency accounts
2. International payments and transfers
3. Cash custodian facilities
4. Credit facilities
5. Structured trade finance
6. Debt syndications
7. Treasury products
8. Escrow agent

MPCB Ltd offers International Money Transfers across the globe through:

SWIFT Transfers
Bank Drafts
Moneygram International Money Transfer Services



For your international trade transactions, MPCB Ltd offers different types of documentary credits

• Commercial Documentary Credit
This documentary credit is an undertaking issued by the Bank for the account of applicant to pay the beneficiary the value of the draft and/or documents provided that the terms and conditions of the documentary credit are complied with.

• Transferable Documentary Credit
A Transferable Documentary Credit is a Credit under which the Beneficiary (First Beneficiary) may request the Bank's authorisation to pay, incur a deferred payment undertaking, accept or negotiate (the Transferring Bank) or, in the event of a freely negotiable credit, the Bank specifically authorised in the credit as a Transferring Bank to make the Documentary Credit available, in whole or in part, to one or more other Beneficiary(ies) [Second Beneficiary(ies)].

• Revolving Documentary Credit
A Revolving Documentary Credit is one by which, under the terms and conditions thereof, the amount is renewed or reinstated without specific amendments to the Documentary Credit being required. The Revolving Documentary Credit is irrevocable and may revolve in relation to time or value.

• Red Clause Documentary Credit
A Red Clause Documentary Credit is a Documentary Credit with a special condition incorporated into it, that authorises the Confirming Bank of any other Nominated Bank to make advances to the Beneficiary before presentation of the required documents.

• Back-to-Back Documentary Credit
.An irrevocable Back-to-Back Documentary Credit (the Primary Credit) may be made available to a third party where the Primary Beneficiary uses the Documentary Credit as security/collateral to obtain another Documentary Credit (the Secondary Credit) in favour of the actual supplier.

• Stand-by Credit
The Stand-by Credit is a Documentary Credit or similar arrangement, however named or described, which represents an obligation to the Beneficiary on the part of the Issuing Bank to repay money borrowed by the applicant or make payment on account of any indebtedness undertaken by the applicant.

It also provides services like Treasury and Trade Finance:

Among the various trade finance facilities, MPCB Ltd offers bill discounting services and forward covers for purchase and sale of foreign currencies to manage foreign exchange risk.
They also offer import loan facilities at very competitive rates for payment of import bills.


It also provides services like Import and Export Financing:

Various trade finance facilities are offered at very competitive rates.

(ii) What is private banking?

Private banking is a term for banking, investment and other financial services provided by banks to private individuals disposing of sizeable assets. The term "private" refers to the customer service being rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisors.
Historically private banking has been viewed as very exclusive, only catering for high net worth individuals with liquidity over $1 million, although it is now possible to open some private bank accounts with as little as $50,000. An institution's private banking division will provide various services such as wealth management, savings, inheritance and tax planning for their clients. A high-level form of private banking (for the especially affluent) is often referred to as wealth management.
The word "private" also alludes to bank secrecy and minimizing taxes via careful allocation of assets. An offshore bank account may be used for this purpose.
What Are the Advantages & Disadvantages of Going Into the Private Banking Business?
The private banking industry provides a high-risk, high-reward arena for investors. A career in private banking can garner a banker or stockbroker a hefty paycheck if he is successful at managing client investments. The job can also spell the quick demise of a financial career if the broker or banker makes unwise decisions and loses clients millions of dollars.

• High Reward Ceiling
The majority of accounts in private banking do not carry FDIC insurance. This means the investors could lose everything in the account to bad portfolio management and poor stock choices. Aggressive management by a savvy private banker can provide massive financial gains for investors. This also leads to large financial rewards for the fund manager. A successful hedge fund manager, the riskiest of all private investments, can earn an annual salary approaching $1 billion.

• Personal Client Interaction
The private banking industry provides a professional banker or stockbroker with an opportunity to work more closely with clients to determine investment goals and retirement needs than if she worked at a public bank. This is because a private bank doesn't do the majority of its business opening checking and savings accounts. A private bank primarily concerns itself with investing and growing wealth.

• Increased Government Oversight
The IRS and other government agencies, including the Department of Homeland Security, closely monitor the private banking industry, especially accounts with money emanating from foreign sources, to guard against illegal activity. As of 2010, The Foreign Account Tax Compliance Act requires every private banking relationship manager to confirm the identity of every client with the firm, including verification of U.S. citizenship and permanent address. The relationship manager must also prepare tax documents for profits for each investor with the firm. Failure to comply with these regulations may result in criminal charges, which can carry heavy fines and federal prison time.

• No Room For Failure
The success of a private banker or stockbroker hinges on her ability to make smart decisions for her clients and garner a consistently positive return on investments. A broker who routinely loses money for clients will not be in business very long, especially in an industry swimming with wildly successful investment firms, including Goldman Sachs and J.P. Morgan. Success on a small scale may not be enough to gain a firm foothold in the private banking industry, where large firms measure success in billions of dollars.

Shailen Calliapen (ID 111413)


Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

Re: International Banking

Post  Admin on Fri 16 Mar 2012 - 18:19

Visit the websites of prominent banks in Mauritius.

[b](i) See what international banking services they provide. briefly reflect on your understanding of each of them.[/b]

[b](ii) What is private banking?[/b]


(i) International banking is the business carried on by or with a bank that is registered, located or operated in a foreign country. It includes such financial services as lending and account payments secured by a bank customer from an international bank. It is sometimes called offshore banking and often is associated with Swiss banking.International Banking Services handle all the international payments for importers and exporters from documentary collections to letters of credit. International banks have relationships with local domestic banks and banks from other countries which makes them a great resource.


[i]Types of International Banking services provided by most banks around the world are listed below:[/i]

[b](1) Foreign Exchange[/b]

One of the challenges of the import export business is dealing with multiple currencies. The exchange rates are constantly fluctuating. If you are an importer from the United States, the best way to eliminate concerns on exchange fluctuations is to have quotes made in U.S. dollars and establish payments in U.S. dollars. This is possible due to the broad acceptance of the U.S. dollar worldwide. Depending on what country is considered your home country, you may be able to adapt this method of payment or receipt of funds in your local currency.If your import export business partners prefer to be paid in a foreign currency, then consulting an international bank to obtain foreign exchange advice is advisable particular if the monetary value is large. International Banks can offer currency hedge as one of its services. The bank will offer to you the option of buying forward or futures contracts for a specified amount of a certain currency at a future date.

[b](2) Movement of Finances across Borders[/b]

One of the obstacles to international trade is trust. It is understandable that an exporter is suspicious of an importer's willingness and ability to pay. Unless relationships have been established, it is unlikely that the exporter will allow the importer to pay by using an open account or credit basis. Under this situation, the seller simply bills the buyer after the delivery of the goods.A more secured form of payment will likely be required. This could take place in the form of prepayments where the importer pays the exporter prior to receipt of the goods. However, the importer bears all the risks in this situation.A more balanced approach is the use of Documentary Letters of Credit or Drafts. This involves the use of third parties or intermediaries to ensure that payments are made and received in a timely manner. The documents need to be submitted before payments can occur.Another approach called the Import Letter of Credit is a bank's written promise of paying the exporter once the importer receives the goods.

[b](3) Source of Information and Connections[/b]

Your International Bank has comprehensive information and connections services which will benefit you as the importer tremendously. The bank may have international connections for you to investigate. Minimally, the bank should be able to write you a letter of introduction for you to establish a credible relationship with a foreign bank in the country of origin. The International Bank can also check your potential supplier's credit worthiness. Market reports both domestic and international should also be available through your bank.

[b](4) Other General Banking Services[/b]

An International bank has the services to fulfill all your business needs. They range from providing short and long term credit, taking your deposits and executing payments and providing business credit cards.

[u][b]International Banking Services in Mauritius[/b][/u]

Mauritius have an own banking sector that visible as offshore banking services Mauritius and foreign financing investment that already takes place the economy to newest levels. It entails that the two banks of Mauritius will be currently enlisted at the top 10 banks of Africa continents and several individuals recognize this international banks that operated in Mauritius that includes HSBC and Barclays Bank.Mauritius Bank is also known as Mauritius central bank. This Bank of Mauritius will supervising and charge the regulation of entire Mauritius banks, the non-bank finance institute, and offshore banking Mauritius that always permitted of giving out banking account lending services.The offshore banking services Mauritius and the general banking system services of Mauritius usually varies and provide offshore investors a mere selection of several international banking choices that includes banking services, payment services of debit and credit card, for phone banking, private banking, trading financing, and taking the deposit and lending with the mere ability of opening an offshore banking account in Mauritius to entire major currencies.Some banks providing these services are ; Mauritius Commercial Bank Limited,State Bank of Mauritius Limited,Barclays Bank Plc,AfrAsia Bank Limited among others.

[b]Mauritius Commercial Bank Ltd (MCB)[/b]
MCB limited provides two main international banking services,namely ;

[list][*]Bank Transfers[/list]- A direct transfer of money between you and the receipient within some hours.a secure service
[list][*]International Transfers/Moneygram[/list]-MoneyGram is the perfect solution when you need to send or receive money rapidly and with complete peace of mind.

[b]Barclays Bank Plc[/b]
International Banking Division caters for the banking needs of non-residents who have economic interests outside Mauritius. The customer profile includes, amongst others, high net worth individuals, foreign institutional investors, offshore trusts, investment funds, venture capital funds and mutual funds. Barclays in Mauritius also offers cash custody services tailored to meet the needs of fund managers in this respect.
The corporate vehicles available to carry global business activities from within Mauritius are companies holding a category 1 Global Business Licence (GBC1), companies holding a Category 2 Global Business Licence (GBC2). Other entities available are trust, protected cell companies, limited partnerships and Global Funds.
International Banking Division is divided in different sub-departments:

[u](1) Global Business Clients[/u]

Our team is the main point of contact for management companies. We deliver a relationship proposition that adds value at all levels of contact and acts as the single gateway team into Barclays and the wider group.

[u](2) Corporate Clients[/u]

Range of services include:
Credit facilities - short term loans and working capital finance, medium and long term loans in a variety of sectors
Structured financing
Foreign exchange and derivative
International trade instruments- LC issuance, guarantees, bill discounting and documentary collections
Syndicated Loan Market. Participation in Syndicated loan market by actively seeking transactions in London/Far East /Africa
Escrow account services

[u](3) Securities Services[/u]

[u](4) Account Opening Team

(5) Transaction Services Unit [/u]

Facts has been taken from the Barclays Mauritius Website.

[b]AfrAsia Bank Limited [/b]
AfrAsia Bank's experienced international and regional bankers and strategic partners deliver tailored and innovative International Banking, Private Banking and Corporate Banking solutions while ensuring that customers benefit from dedicated relationship management and client service with the following commitment:
Opening of accounts GBC1, GBC2, International Business Companies, Protected Cell Companies, Trusts & other corporate vehicles within 24 hours subject to receipt of all required documentation
Flexibility in procedures and quick decision making
Free and secured Internet Banking, both viewing and transacting
Extended cut-off time for international remittances
Dedicated Relationship Managers, providing professional, efficient and confidential services

AfrsAsia Bank provides the following International Banking services:
Corporate & Investment Banking
Private Banking & Wealth Management
Treasury products and hedging services
High yielding multi currency deposits
Project Finance including Integrated Resort Scheme (IRS) and Real Estate Scheme (RES) for developers and buyers
Comprehensive range of Trade Finance services & facilities
Structured Investment Products
Investment opportunities to Indian Equity/Debt Market as Foreign Institutional Investor (FII)
Global Custody and Brokerage services through our partners

Practically each and every bank in Mauritius offers International Banking services.Nowadays,it is vital for every bank in Mauritius and around the world to provide these services.As many businesses in Mauritius deals with many other businesses around the world and vice versa,International Banking services helps them when it comes to the dealing of funds.For example,a customer need to pay for good bought in another country.With the help of IBS through banks,money can be transferred easily from one bank in the local country to another bank in the foreign country and it is a safe method.With the world becoming a global village,IBS will be a great help for many businesses around the world.From my point of view,with time.bank will provide more and more IBS that will facilitate all the transactions while doing business a lot.

([b]ii) What is Private Banking?[/b]

Private banking is a term for banking, investment and other financial services provided by banks to private individuals disposing of sizeable assets. The term "private" refers to the customer service being rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisors.Historically private banking has been viewed as very exclusive, only catering for high net worth individuals with liquidity over $1 million, although it is now possible to open some private bank accounts with as little as $50,000. An institution's private banking division will provide various services such as wealth management, savings, inheritance and tax planning for their clients. A high-level form of private banking (for the especially affluent) is often referred to as wealth management.The word "private" also alludes to bank secrecy and minimizing taxes via careful allocation of assets. An offshore bank account may be used for this purpose.

Private banking normally provides these facilities:
[list][*]Investment advice[/list]
[list][*]Discretionary portfolio management[/list]
[list][*]Lending[/list]
[list][*]Insurance[/list]
[list][*]Estate and trust planning[/list]
[list][*]Wealth structuring[/list]

[b]Advantages and Disadvantages of private banking are listed below:[/b]

• [b]High Reward Ceiling[/b]
The majority of accounts in private banking do not carry FDIC insurance. This means the investors could lose everything in the account to bad portfolio management and poor stock choices. Aggressive management by a savvy private banker can provide massive financial gains for investors. This also leads to large financial rewards for the fund manager. A successful hedge fund manager, the riskiest of all private investments, can earn an annual salary approaching $1 billion.

• [b]Personal Client Interaction[/b]
The private banking industry provides a professional banker or stockbroker with an opportunity to work more closely with clients to determine investment goals and retirement needs than if she worked at a public bank. This is because a private bank doesn't do the majority of its business opening checking and savings accounts. A private bank primarily concerns itself with investing and growing wealth.

• [b]Increased Government Oversight[/b]
The IRS and other government agencies, including the Department of Homeland Security, closely monitor the private banking industry, especially accounts with money emanating from foreign sources, to guard against illegal activity. As of 2010, The Foreign Account Tax Compliance Act requires every private banking relationship manager to confirm the identity of every client with the firm, including verification of U.S. citizenship and permanent address. The relationship manager must also prepare tax documents for profits for each investor with the firm. Failure to comply with these regulations may result in criminal charges, which can carry heavy fines and federal prison time.

• [b]No Room For Failure[/b]
The success of a private banker or stockbroker hinges on her ability to make smart decisions for her clients and garner a consistently positive return on investments. A broker who routinely loses money for clients will not be in business very long, especially in an industry swimming with wildly successful investment firms, including Goldman Sachs and J.P. Morgan. Success on a small scale may not be enough to gain a firm foothold in the private banking industry, where large firms measure success in billions of dollars.

Teeluck Shriyans (111442)

Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

International Banking

Post  Admin on Fri 16 Mar 2012 - 19:21

QUESTION (i)
Visit the websites of prominent banks in Mauritius.
(i) See what international banking services they provide, Briefly reflect on your understanding of each of them.

This is a list of the main banks in Mauritius. There are currently more than a dozen banks in Mauritius such as:
• The Mauritius Commercial Bank
• The State Bank of Mauritius
• Barclays Bank
• HSBC
• Bank of Baroda
• Bramer Banking Corporation
• Bank One
• Standard Bank
• Standard Chartered Bank
• Deutsche Bank
• AfrAsia Bank
• Banque des Mascareignes
The prominent banks in Mauritius generally provides these International services such as :-

 Investment on stock exchange overseas

 Providing bank security for imports and exports

 Provide money changing facilities for different currency

 Easy international money transfer from one country to another


THE MAURITIUS COMMERCIAL BANK.
The Mauritius Commercial Bank (MCB) is arguably the most popular bank in Mauritius. Established in 1838, the Mauritius Commercial Bank Ltd (MCB) has commendable market shares of above 40% in the domestic banking sector and is increasingly positioning itself as a prominent financial player in the Indian ocean.

International services:-
(i) Bank transfers:- Discover a wealth of options to help you transfer money abroad. Enables you to do direct transfers quickly between you and the person you want to send the transfers in just a couple of hours.
(ii) Moneygram:- Send or receive money in less than 10 minutes. MoneyGram is the perfect solution when you need to send or receive money rapidly and with complete peace of mind.
Swift transfer:-Online transfers in a click
Swift transfers are also available through MCB internet Banking which makes it easier to transfer money by yourself wherever you are and wherever you want.
Bank Drafts
A bank draft like an office cheque. it is the cheapest way to send money abroad and is perfect if you are not in a hurry.
After we issue a draft, you will need to post it to the beneficiary. As such to issue a bank draft:-
(i) Beneficiary’s name and address
(ii) Your account number or the funds to be transferred in cash

Trade finance such as:-
(i) Imports services :-focuses on your import business while mcb take care of the rest. It also provides different types of settlements to make your tading needs easier.
Import services such as :-
• Commercial documentary credit:- Choose a commercial documentary credit if as an applicant you wish to pay your supplier through a bank.

• Revoling documentary credit:- Use a revolving documentary credit if you wish to make payments for regular deliveries made over a longer period of time.

• Red clause documentary credit:- Choose a red clause documentary credit if you wish the beneficiary to receive funds prior to the shipment of goods

• Transferable documentary credit:- Choose a transferable documentary credit to request an authorized bank to pay,

• Back-to-back documentary credit:- Choose a back-to-back documentary credit if as a primary beneficiary you want to use the documentary credit as a security.
• Stanby credit:- Opt for a standby credit if you need to fulfill certain liabilities to other counterparties.

• Collection:- Import with complete peace of mind and guarantee the quality of your products with collection
(ii) Exports services:- Exports precatiously and secures your business from default payments with various solution.

Exports services such as:-
• Export documentary credit:- Export goods with complete peace of mind as you guarantee receipt of payment from your buyer

• Export documentary collection:- Secure your payment from your buyer (s) even when you are dealing with a trusted party.

• Export financing:- Take your business global. Our export financing facilities can bring you high profitability.

• Credit protection:- With Credit Protection, protect your business from default of payment when you export goods and services abroad







HSBC Bank (Mauritius) Limited
The HSBC group is one of the world’s leading international banking and financial services organizations with major consumers,commercial investment banking and insurance businesses operating in the Asian-pacific region,Europe ,the Americas,middle east and Africa with an international network of some 10,000 offices in 83 countries and territories and assets in evcess of USD 2,354 Billion as at 31 DEC 2007, the HSBC groups is one of the World’s largest banking and financial services organizations

In Mauritius, the HSBC Group offers an extensive range of financial services through a network of 11 branches and offices. This includes personal banking, financial planning and consumer finance, as well as commercial, corporate and institutional banking, payments and cash management, trade and export finance, treasury and financial markets, project finance, corporate finance and securities custody.
HSBC was one of the first banks to set up an Offshore Banking Unit in Mauritius in 1991, and has grown to be the largest one of its kind in Mauritius. The OBU’s capabilities have been recently enhanced with the opening of a new locally incorporated subsidiary, the HSBC Bank (Mauritius) Ltd (HBMU). Through the new subsidiary, HSBC is able to offer many of its global customers more sophisticated financial products and structures that benefit from the extensive range of international double taxation avoidance treaties that Mauritius has negotiated.
The bank works closely with the group’s international network which includes offices situated in countries which have signed double taxation avoidance treaties with Mauritius. A wide range of products and services such as :
-multi-currency accounts,
foreign exchange
treasury ,
trade services
Credit facilities
HSBCnet are provided to meet clients financial needs.

International services it provides:-
• Import services

The bank offer a wide range of import services, delivered by our experienced trade team. With the support of our global network, we have HSBC representatives to assist your around the world. Import-related services include:

o Documentary letters of credit

o Post-import finance

o Shipping guarantees

o Clean import loans

o Transferable and back-to-back letters of credit

• Export services

Exporters can face significant risks when they undertake international trade, not least the fear of delay or non-payment. Whether you are a new or a long-established exporter, HSBC Trade and Supply Chain can help to reduce risks, allowing you to focus on growing your export business.

To benefit from HSBC's export services, there is no need to have special facilities. Simply request your buyers to advise documentary credits through us to benefit immediately from our international network. What’s more, is your customer is the beneficiary of a documentary credit issued by an HSBC Group Office, they are entitled to the same level of service excellence as our regular customers.

HSBC Mauritius offers the following products:
o Export documentary credit confirmation
o Export documentary credit negotiation and payment
o Electronic export documentary credit advising
o Export documentary collections
o Pre-shipment finance
o Post-shipment finance
o Purchase/discount of collection bills
o Loans against export

• Guarantees
HSBC can issue you with an undertaking upon your request, to pay a third party specified sum of money as a guarantee against the non-observance of terms of an agreement/contract. As such, HSBC offers the following services:
o Performance Bonds
o Tender Bonds
o Advance Payment Bonds
o Other Bank Guarantees


• E-Solutions

When it comes to international trade services, HSBC as developed a range of cutting edge e-trade products and solutions to help improve the efficiency of your trade operations and bring you peace of mind. Whether you are an importer or an exporter, we can provide innovative e-solutions to reduce your trade cycle, automate your supply chain and cut operating costs. As one of the largest trade finance institutions in the world, HSBC can help you simplify your trade processes with its advanced technology and put you in control of your operations.

Barclays Bank PLC
Barclays presence in Mauritius dates back to 1919 when it was incorporated under the name of national bank of south Africa ltd subsequently the name changed to Barclays DCO 1926 to Barclays international in 1971 and Barclays Banks PLC in 1988.
Barclays Banks was the first Bank in Mauritius to obtain an OFFSHORE banking licence and engages in Banking activities in all foreign currencies.
The international Banking division offers traditional banking services with a client base of primarily non-residents. It’s customers base consists of 500 customers which are mainly large international companies and multinationals. Barclays Mauritius provides a range of banking services to personal and corporate customers. Personal services include a range of current and savings accounts, foreign currency accounts, loans – including home loans and multi-purpose loans, credit cards, ATMs, and telephone banking. Business services include lending products, trade and export finance and many specialist services such as treasury, foreign exchange and capital markets capability. Barclays Mauritius is also present in the asset finance (leasing) business through the Barclays Leasing Company Ltd.




International Banking Division is divided in different sub-departments:
1) Global Business Clients

Our team is the main point of contact for management companies. We deliver a relationship proposition that adds value at all levels of contact and acts as the single gateway team into Barclays and the wider group.


2) Corporate Clients

We are a dedicated team who serve corporate clients operating globally;
• incorporated in Mauritius as Global Business Companies or
• international companies incorporated or based in a countries other than Mauritius ,
• multinational companies (MNCs),
• Special purpose vehicles (SPVs) based in various offshore jurisdictions.
We offer a range of services and products to companies:
• Credit facilities - short term loans and working capital finance, medium and long term loans in a variety of sectors
• Structured financing
• Foreign exchange and derivative
• International trade instruments- LC issuance, guarantees, bill discounting and documentary collections
• Syndicated Loan Market. Participation in Syndicated loan market by actively seeking transactions in London/Far East /Africa
• Escrow account services
INTERNATIONAL BANKING SERVICES IT PROVIDES :-
Transaction Services Unit

Our team provides the execution of All payment instruments as per your request within the international standard time-frame of two business days. This service is provided in all the major trading currencies and facilitated through the Global Swift Network.

Our major products and services we offer include:
• International Money Payments
• Multi-Currency Cheque Book
• Fixed Deposit
• Foreign Exchange and Derivatives Transactions
• Investments in International Securities
• Structured Investments
• Securities Services
• International Trade Instruments
• US Dollar and EURO Deferred Debit Cards
• Internet Banking for Corporate Customers.


State Bank of Mauritius Ltd

State Bank of Mauritius LTD (SBM) started operations in 1973 and was listed on the stock exchange of Mauritius in 1995. SBM is currently an integrated banking group offering a wide range of financial services including retail and corporate banking, currency and securities trading, leasing, security broking, fiduciary services and asset management.
SBM is currently present in Mauritius, India and Madagascar and offers cross border financing in non-presence countries to meet it’s customers need. The group services its client base through modern and secure electronic delivery channels including internet and mobile phone banking and e-commerce platform,in addittion to its traditional network of 49 services units.
THE INTERNATIONAL BANKING SERVICES IT PROVIDES :-
GLOBAL BUSINESSES
Mauritius offers the benefit of a business-friendly but well regulated centre and a low tax jurisdiction with an extensive tax treaty network. The island has Double Taxation Avoidance Agreements (DTAAs) with 34 countries (7 awaiting ratifications) which benefit the Global Businesses.
The Global Business unit of SBM is an integral part of the Corporate, International and Investment Banking Division. We provide world class banking services to serve you by leveraging on our vast network of correspondent banks, bilateral arrangements with major international banks, our presence in India and Madagascar and through our state-of-the-art technology.
We are a local bank taking full advantage of Mauritius as a well regulated and rated Global Business jurisdiction. With our strong asset base of USD 2.4 billion (Mar 2010) and a healthy credit rating of Baa2 (Moody’s long term foreign currency deposit rating) coupled with prompt decision making, we have the right profile to be your preferred banking partner.



Standard Chartered Bank (Mauritius) Limited

Standard Chartered Bank (Mauritius) Limited (SCBM) was established in May 2002 as a
wholly owned subsidiary of Standard Chartered Bank, UK, the ultimate holding company being Standard Chartered Limited, both companies incorporated in the United Kingdom.

Standard charted bank (Mauritius) limited is locally incorporated and is a single-branch operation, offering wholesale banking products-loans, overdrafts, trade finance , foreign exchange, accounts opening and cash management and has also the capability of offering selected consumer banking products. The business is supported by an internally designed banking system which provides an interface with web banking, providing the flexibility to customers to manage their accounts and initiate outward remittances.

THE INTERNATIONAL BANKING SERVICES IT PROVIDES:-

o Offshore multi-currency accounts
o International payments and transfers
o Cash custodian facilities
o Credit facilities
o Structured trade finance
o Debt syndications
o Treasury products
o Escrow agent




QUESTION 2

What is Private Banking?

Private banking is a personalized banking practice. This commonly used by client earning above Rs 500,000 as yearly turnover. A private banker is appointed to serve and assist these clients in there every day running of their business and fulfill as far as possible all their requirements. The reason behind private banking is that it makes the bank earn much more compared to other clients. Through private banking these client get a priority above other clients.


Private Banking is also about...
1. Online Banking
24 hour convenient, safe and secure access to your account
2. Debit and Credit Cards
• Secured Chip Enabled Cards for added protection
• Convenient access to funds from ATMs Worldwide
• Up to 1% cashback reward on quarterly spend
• Priority service in our branches
Exclusive discounts for Platinum Credit Card Holders with over 200 partners

3. Deposit Services
Term Deposits allow you to choose a time frame that fits your savings needs and lock in the best current interest rate
4. Tailored Financing Services
Effectively manage financing needs:
• For every unique situation, we offer a comprehensive line of loan options to suit the need of any influx of funds
• Personal Lines of Credit designed to provide a convenient source of funds is also available and we offer both secured and unsecured options
• We also offer flexible terms on a fixed-rate installment loan tailor-made to your needs
5. Residential Mortgages
We select the solution that best meets your goals. The broad selection of lending options will guide you through the process with a high level of attention and service. Residential Mortgages at adjustable rate options for financing primary, secondary or vacation residences. In addition to standard mortgages, SBM offers financing plans for special needs including:
• Construction
• Financing of Société civile immobilière d’attribution ((Assignment of ‘Garantie financière d’achèvement’ in favour of SBM)
• Investment property
• Refinancing
6. Home Equity Services
Our services will provide a number of ways to put your home investment to work such as:
• Equity Line of Credit to take advantage of the untapped value in your home or other assets with competitive interest rates, access as needed and interest-only payment options
• Help manage your finances to create predictable monthly payments
7. Your exclusive range of benefits
As a Private Banking customer, you will have a range of benefits
• Personalised service
• Specialised products and solutions
• Investment related information
• Bank products
• Exclusive access to SBM Park


Advantages of private banking:-


• A private banking client contract enables you to carry out all of your everyday banking over the phone, simply by contacting the team that is serving you.
• A personal financial strategy will be prepared for you at least once a year.
• We offer you investment management services with a full or consultation mandate.
• Personal team – a team consisting of professionals is always there to help you and your family.

• Frees our clients from having to constantly follow the market, analyze large amounts of information, and devote their free time to problem solving relating to the effective management of their available assets;

• Guarantees professional oversight over the risk and protection of investments;

• Ensures quick, real-time reaction to market fluctuations thanks to continuous market monitoring by the personal manager;

• Allows to earn money even when the market falls;
• Provides a personalized approach, which allows us to take into account the client's preferences related to investment decisions, degree of risk and desired rate of return;

• Offers a broad spectrum of investment strategies, optimally taking into account the client's investment goals and the client's risk attitude;

• Allows the client to efficiently track the status of his investment portfolio and information on all of the transactions of the client's assets during the management period as well as to compare the performance of the personal investment manager against the indices of securities markets online;

• Assures the direct interest of the manager in the performance of the managed assets since his bonuses are tied to the investment portfolio's gains.





Disadvantages of Private Banking:-


• No of branches in rural areas: The private bank owners do not like to setup there branches in rural areas. The banking facilities remain confined to cities where sufficient deposits are available.
A large part of population will be deprived of banking facilities.

• Jobs for relatives: The management of privatized banks may provide jobs to their friends and relatives. The deserving persons are ignored.

• Owners association: The aim of privatized banks is to earn profit. For these purpose owners associations are made which enter into agreement of earning high profit. The bank can increase the rate of service charges. Such associations may not care for customer's welfare.

• Surplus employees: The defect of the system is that some of the workers are declared surplus. There is an increase in the rate of unemployment. The unemployed workers commit crimes in this society


Regards,
CHIKHOOREE purushkaar (Student ID:- 111414)

Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

Re: International Banking

Post  Admin on Fri 16 Mar 2012 - 19:53

(1.1). Visit the websites of prominent banks in Mauritius. See what international banking services they provide briefly reflect on your understanding of each of them.

A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers that have capital deficits to customers with capital surpluses.

Banking in Mauritius is sophisticated with 20 licensed banks to undertake banking business. One of the top banks in Mauritius is The Mauritius Commercial Bank. It is the oldest and largest banking institution that has retained it’s original name as well. MCB adapts to changes and meets all the new techniques to satisfy it’s customers.

The International Services that the Mauritius Commercial Bank provides are the:
(1) Bank Transfers
(2) Money gram

1(i). Bank Transfers
It ensures a direct transfer between you and the person of your choice in a matter of hours. You can either do it yourself via MCB Internet Banking or visit any MCB Branch.

(ii) Swift Transfer
It’s online transfer through a click. It is also available through MCB Internet Banking which makes it even easier to transfer money by yourself wherever you are and whenever you want,

(iii) Bank Drafts
A bank draft is just like an office cheque. It is the cheapest way to send money abroad and is perfect if you are not in a hurry.

2(i). Money Gram
Money gram is the perfect solution when you need to send or receive money rapidly and with complete peace of mind.

The service is available in only 10 minutes. You have access to network of 180 000 offices in 190 countries. You don’t need a bank account or a credit card and can include a 10 word message if you want.


Barclays

Non-UK citizens living and working in the UK:
We can provide international and offshore banking to non-UK citizens. This service is aimed at people who are living or working in the UK before returning to their home country. A Barclays Wealth International account can be set up before you leave your home country or after you have arrived in the UK. You can manage your money from almost anywhere in the world using telephone and online banking.

International Payments
Whenever you need to transfer money quickly and securely, Barclays Wealth International Payments make the process simple.
• Your money is secure
• Make payment instructions online, by phone/fax, by post or in an a Barclays branch
• Choose from a range of major currencies
• No minimum transfer amount (maximum £50,000 for online transactions)
• Attractive tariffs start from £25 for online instructions

Investing with Barclays Wealth International

Investments can help you achieve your financial goals more quickly than cash savings. However, you have to be aware of the risks involved.
With Barclays Wealth iInvest we can create an investment solution designed to meet your unique combination of goals, circumstances and attitude to risk.
Investment funds should be viewed as a medium- to long-term commitment, that is five years or more, and our structured products range between three and six years. The value and any income from them can go down as well as up. You might get back less than you originally invest.

International Payments

Whenever you need to transfer money quickly and securely, Barclays Wealth International Payments make the process simple.
• Your money is secure
• Make payment instructions online, by phone/fax, by post or in an a Barclays branch
• Choose from a range of major currencies
• No minimum transfer amount (maximum £50,000 for online transactions)
• Attractive tariffs start from £25 for online instructions

Personal service

To deliver a superior level of service, we match you with your own dedicated Private Banker. Their role is to anticipate and understand your needs and to help you achieve your immediate and long-term wealth goals. We never underestimate the importance of personal chemistry.

Access to market-leading investment advice

We deliver objective advice sourcing the best solutions from the entire market. Our relationship with Barclays Capital, a leading investment bank, gives our clients access to market-leading investment advice often reserved for institutional clients. Our appreciation that every investor is different has led us to develop an innovative approach that we call our Investment Philosophy.

International Private Banking

Our International Private Banking business operates in both onshore and offshore markets. We have the international expertise and knowledge that comes from many years of offering bespoke banking and investment solutions to clients from diverse backgrounds.

Online statements

If you have a sterling account, you can opt for online statements instead of paper ones. With accounts in other currencies, you will receive both. Online statements remain on our system, so you can download them within Online Banking whenever you need to.

The State Bank of Mauritius

The State Bank of Mauritius offers the point of sale acquiring services for merchants with secure and reliable transaction processing to authorize, settle, and manage card payments through POS terminals. The State Bank of Mauritius Limited POS Services has become a critical component for Merchants that want to accept cards as payment for goods and services. The benefits for merchants to accept Cards can be highlighted as follows:
• Funds credited automatically at bank
• Convenient mode of payment for your customers
• Faster operations at till points
• Mitigate risk of errors during cash handling
• Less operational risks as less cash in hand
• Streamlining of operations with less cash management operations
• Less cash management with less cash insurance
• Easy reconciliation with regular statement report provided by the bank
• As a better alternative rather than accepting cheques

E-Commerce Acquiring Services

E-Commerce Services provide secure and reliable transaction processing that is designed to support online businesses with a cost-effective system to authorize, settle, and manage credit card payments through the Internet. The State Bank of Mauritius Limited’s E-Commerce Services has become a critical component for businesses that want to accept credit cards as payment for goods and services online.

(1.2) .What is private banking?

It is banking, investment and other financial services provided by banks to private individuals investing sizeable assets. It refers to the customer service being rendered on a more personal basis than in a mass-market retail banking, usually via dedicated banks advisers. Private banks aim to match such individuals with the most appropriate options.

In addition to providing exclusive investment related advice, private banking goes beyond managing investments to address a clients protecting and growing assets in the present providing specialized financing solutions, planning retirement and passing wealth on to future generation.

Regards from
Beekarry Dhiraj
(111409)

Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

RE: International Banking

Post  Admin on Fri 16 Mar 2012 - 20:09

I can see only seven students replying. Why? Is there any problem? Further, I can see no criticism for your peers' posts. Why?

I think this is the umpteenth time am telling you that all students should participate and criticise? What is the purpose of this forum then?


I give everybody till sunday, failure of which i will give ZERO marks.

Also, I want your answers to be brief. You need not mention the international products of all the banks. Choose only one prominent bank so that you have an idea of what international banking is. This will save your time also.

Regards.

VP,Lecturer.

Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

Re: International Banking

Post  Admin on Fri 16 Mar 2012 - 20:43

Question (i)
See what international banking services they provide. Briefly reflect on your understanding of each of them?

In Mauritius there are 20 licensed banks to undertake banking business, they are all regrouped by the Mauritius Bankers Association Limited (MBA). It exists to represent its members, to promote and establish conditions conducive to competition, sound and responsible banking and finance business. A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers that have capital deficits to customers with capital surpluses.

Famous banks in Mauritius:

Mauritius Commercial Bank (MCB) is the oldest and largest banking institution of Mauritius. It is also the oldest banking institution south of the Sahara and one of the oldest banks of the Commonwealth to have preserved its original name. The MCB is the only Mauritian bank to be among The Banker's list of 'THE TOP 1000 WORLD BANKS 2006. MCB has a local network of 40 modern branches and 150 automatic teller machines
The international services that it provides are as follows:
• Bank Transfers. Ensure a direct transfer between you and the person of your choice in a matter of hours
• Swift transfer. Swift transfers are also available through MCB Internet Banking, which makes it even easier to transfer money by yourself wherever you are and whenever you want.
• Bank Drafts. A bank draft is just like an office cheque. It is the cheapest way to send money abroad and is perfect if you are not in a hurry.





State Bank of Mauritius (SBM) is the second largest bank in Mauritius with a market share of about 25% of domestic banking assets. It has 42 domestic branches, and three branches in India. SBM Madagascar, a fully owned subsidiary of SBM, started banking operations in Madagascar in January 1998. The company operates from Antananarivo, the capital of Madagascar.
The international service that it provides is as follows:
• Global Business. Mauritius offers the benefit of a business-friendly but well regulated centre and a low tax jurisdiction with an extensive tax treaty network. The island has Double Taxation Avoidance Agreements (DTAAs) with 34 countries (7 awaiting ratifications) which benefit the Global Businesses. The Global Business unit of SBM is an integral part of the Corporate, International and Investment Banking Division. We provide world class banking services to serve you by leveraging on our vast network of correspondent banks, bilateral arrangements with major international banks, our presence in India and Madagascar and through our state-of-the-art technology.

Barclays Bank of Mauritius.
Barclays Bank, a multinational banking company which its headquarters found in London. It first introduced in Mauritius in 1919. Since then, Barclays Bank Mauritius has grown to be the third largest bank in Mauritius, after Mauritius Commercial Bank and State Bank of Mauritius, with 20 branches and a market share of about 10-12%. In 2002, Barclays Bank Mauritius bought Banque Nationale de Paris Intercontinental (BNPI). This acquisition brought with it 6 branches to add to Barclays' existing 13 branches. Mr Ravin Rao Dajee is currently the Managing Director.
The international service that it provides is as follows:
• International Money Payments
• Multi-Currency Cheque Book
• Fixed Deposit
• Foreign Exchange and Derivatives Transactions
• Investments in International Securities
• Structured Investments
• Securities Services
• International Trade Instruments
• US Dollar and EURO Deferred Debit Cards
• Internet Banking for Corporate Customers.

HSBC Holdings plc (commonly known as HSBC) is a British multinational banking and financial services company headquartered in London, United Kingdom. As of 2011 it was the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine.
HSBC is a universal bank and is organised within four business groups: Commercial Banking; Global Banking and Markets (investment banking); Personal Financial Services (retail banking and consumer finance); and Global Private Banking. It has around 7,500 offices in 87 countries and territories across Africa, Asia, Europe, North America and South America and around 100 million customers. As of 30 June 2010, it had total assets of $2.418 trillion, of which roughly half were in Europe, a quarter in the Americas and a quarter in Asia.
HSBC Holdings plc was founded in London in 1991 by The Hongkong and Shanghai Banking Corporation to act as a new group holding company and to enable the acquisition of UK-based Midland Bank The origins of the bank lie in Hong Kong and Shanghai, where branches were first opened in 1865. Today, HSBC remains the largest bank in Hong Kong, and recent expansion in mainland China, where it is now the largest international bank, has returned it to that part of its roots.

The international services that it provides are as follows:

• Import services. We offer a wide range of import services, delivered by our experienced trade team. With the support of our global network, we have HSBC representatives to assist your around the world. Import-related services include:

Import-related services include:
o Documentary letters of credit
o Post-import finance
o Shipping guarantees
o Clean import loans
o Transferable and back-to-back letters of credit

• Export services. Exporters can face significant risks when they undertake international trade, not least the fear of delay or non-payment. Whether you are a new or a long-established exporter, HSBC Trade and Supply Chain can help to reduce risks, allowing you to focus on growing your export business.

To benefit from HSBC's export services, there is no need to have special facilities. Simply request your buyers to advise documentary credits through us to benefit immediately from our international network. What’s more, is your customer is the beneficiary of a documentary credit issued by an HSBC Group Office, they are entitled to the same level of service excellence as our regular customers.

HSBC Mauritius offers the following products:
o Export documentary credit confirmation
o Export documentary credit negotiation and payment
o Electronic export documentary credit advising
o Export documentary collections
o Pre-shipment finance
o Post-shipment finance
o Purchase/discount of collection bills
o Loans against export

• Guarantees. HSBC can issue you with an undertaking upon your request, to pay a third party specified sum of money as a guarantee against the non-observance of terms of an agreement/contract. As such, HSBC offers the following services:
o Performance Bonds
o Tender Bonds
o Advance Payment Bonds
o Other Bank Guarantees

• E-Solutions. When it comes to international trade services, HSBC as developed a range of cutting edge e-trade products and solutions to help improve the efficiency of your trade operations and bring you peace of mind. Whether you are an importer or an exporter, we can provide innovative e-solutions to reduce your trade cycle, automate your supply chain and cut operating costs. As one of the largest trade finance institutions in the world, HSBC can help you simplify your trade processes with its advanced technology and put you in control of your operations.









Question (ii)
What is private banking?

Private banking is a term for banking, investment and other financial services provided by banks to private individuals disposing of sizeable assets. The term "private" refers to the customer service being rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisors.
Historically private banking has been viewed as very exclusive, only catering for high net worth individuals with liquidity over $1 million, although it is now possible to open some private bank accounts with as little as $50,000. An institution's private banking division will provide various services such as wealth management, savings, inheritance and tax planning for their clients. A high-level form of private banking (for the especially affluent) is often referred to as wealth management.
The word "private" also alludes to bank secrecy and minimizing taxes via careful allocation of assets. An offshore bank account may be used for this purpose.

Advantage of Private Banking.
With Private Banking, you'll develop a strong working relationship with your Private Banker. Our Private Bankers draw upon a wealth of experience and expertise in areas such as commercial lending, retail banking, mortgage consulting and retirement plan administration, to name a few. So together, we can help you define the services that fit your particular needs. Your Private Banker will arrange timely, confidential and convenient access to a full range of personal and commercial financial services to help you achieve your current and long-term goals.

Disadvantages of Private Banking.
• Surplus employees: The defect of the system is that some of the workers are declared surplus. There is an increase in the rate of unemployment. The unemployed workers commit crimes in this society.

• No of branches in rural areas: The private bank owners do not like to setup their branches in rural areas. The banking facilities remain confined to cities where sufficient deposits are available. A large part of population will be deprived of banking facilities

• Unbalanced growth: The management of privatized banks provides credit in specific areas and people. As a result, there is unbalanced growth in the country; especially rural areas may remains under developed where credit facilities do not exist.

• Jobs for relatives: The management of privatized banks may provide jobs to their friends and relatives. The deserving persons are ignored.

• Loans for few persons: The management of privatized bank can extend loans of their favored persons. In this way only few persons are benefited.

• Owners association: The aim of privatized banks is to earn profit. For these purpose owners associations are made which enter into agreement of earning high profit. The bank can increase the rate of service charges. Such associations may not care for customer's welfare.

Regards,
Peermamode Yasine
Id: 111428

Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

Re: International Banking

Post  Admin on Fri 16 Mar 2012 - 20:56

[i][b](1) What international banking services banks provide? Briefly reflect on your understanding of each of them.[/b][/i]

Banks render several services in the country. Besides the banking services provided for the local people, many banks in Mauritius offers international banking services. Some banks that provided international banking services are as follows:

(a)The Mauritius Commercial Bank ltd (MCB)

(1)Foreign Institution Investment:
With the recent acquisition of a Foreign Institutional Investment licence (FII) from the Securities & Exchange Board of India (SEBI), MCB can now provide you with a complete palette of financial solutions to start investing in India.

(2)Treasury: the MCB offer foreign exchange services for:

Spot transaction: a foreign exchange transaction is a deal in which each party agrees to deliver a certain amount of currency against another currency at an agreed exchange rate for same day value - tomorrow and two days value.

Forward contract: an agreement to purchase or sell one currency in exchange for another currency for settlement on a fixed date in the future at a fixed rate of exchange.

FX swap: the purchase of one currency against another at an agreed rate for delivery on one date with a simultaneous sale to reverse the transaction on another value date and rate.

(3)Trade Finance:
International Trade is becoming more complex everyday and can be a risky business. To fulfil your trading needs, the Bank provides you with various methods of settlement to your international trade transactions.

Import services like standby credit, commercial documentary credit, collection, transferable documentary credit and Export services like export financing, credit protection, export documentary collection are some of the international services offered by the MCB.

(b) HSBC Banking

(1) Foreign exchange and treasury:
We provide competitive foreign exchange and treasury services for personal and corporate account holders, institutional clients and investment funds in the most traded currencies.

(2) E-banking – HSBC net:
HSBC net, our global e-banking system, enables on-line access to bank accounts maintained in Mauritius and at offices throughout the world.

(3) Trade & Supply Chain:
Comprehensive range of trade services, finance and facilities, catering particularly to the needs of freeport and offshore trading companies operating from Mauritius.

(4) Islamic Banking:
With the launch of Islamic Banking services under the HSBC Amanah umbrella, HSBC Bank Mauritius is now able to provide world class Shariah compliant products to Global Business clients.

(5) Financing:
Multi-currency corporate lending facilities that include bills discounting, short to medium term financing, syndicated and cross-border loans, project and capital finance.


(c) Barclays

Its International Banking Division caters for the banking needs of non-residents who have economic interests outside Mauritius. The customer profile includes, amongst others, high net worth individuals, foreign institutional investors, offshore trusts, investment funds, venture capital funds and mutual funds. Barclays in Mauritius also offers cash custody services tailored to meet the needs of fund managers in this respect.

The International Banking Division is divided in different sub-departments:

(1) Corporate Clients:
They are a dedicated team who serve corporate clients operating globally;
• incorporated in Mauritius as Global Business Companies or
• international companies incorporated or based in a countries other than Mauritius ,
• multinational companies (MNCs),
• Special purpose vehicles (SPVs) based in various offshore jurisdictions.

(2) Securities Services
Our team has established itself as the leading provider of tailored custody and securities administration services to both local and international institutional investors in Africa.

(3) Transaction Services Unit
Our team provides the execution of All payment instruments as per your request within the international standard time-frame of two business days. This service is provided in all the major trading currencies and facilitated through the Global Swift Network.

(d) AfrAsia Bank Limited

With world-class strategic partners and a passionate team of experienced bankers, AfrAsia Bank has regional and international cross-border capabilities to deliver tailor made solutions with tangible benefits. All in an environment of trust.

The bank deliver customised services focusing on:

Corporate & Investment Banking
Private Banking & Wealth Management
Treasury products and hedging services
High yielding multi currency deposits
Project Finance including Integrated Resort Scheme (IRS) and Real Estate Scheme (RES) for developers and buyers
Comprehensive range of Trade Finance services & facilities
Structured Investment Products
Investment opportunities to Indian Equity/Debt Market as Foreign Institutional Investor (FII)
Global Custody and Brokerage services through our partners.

(e) The State Bank of Mauritius

Mauritius offers the benefit of a business-friendly but well regulated centre and a low tax jurisdiction with an extensive tax treaty network. The island has Double Taxation Avoidance Agreements (DTAAs) with 34 countries (7 awaiting ratifications) which benefit the Global Businesses.

The Global Business unit of SBM is an integral part of the Corporate, International and Investment Banking Division. We provide world class banking services to serve you by leveraging on our vast network of correspondent banks, bilateral arrangements with major international banks, our presence in India and Madagascar and through our state-of-the-art technology.


[i][b](2) What is private banking?[/b][/i]

Banking institutions have developed special policies when it comes to servicing their wealthiest clients, catering to their needs as best as possible. Private banking, in particular, is taking customer care at another level, providing exclusive and exceptional service to “high net worth individuals” (HNWI). A considerable amount of financial assets is required in order to qualify for the benefits that come when one is regarded as high net worth customer. Banks have different criteria as to who qualifies for their private banking services.

Through private banking, high net worth individuals are entitled to much more personalized services by professional bank advisers. Nowadays, this service is an absolute necessity for people with high incomes. It is particularly difficult for them to keep an accurate account of their wealth or make the best financial decisions. Private banking is all about finding the perfect financial solution in a discrete way, taking into account the client's individual needs and circumstances. First, the bank's wealth planners review the past and present financial situation of the client, doing their best to come up with an accurate assessment of the client's future requirements.

The term private refers to minimization of taxes through careful source allocation or tax evasion. Some offshore private banks (as well as the Swiss banks) have been criticized for offering services to customers who practice tax evasion. Wealth advisers also assist in developing one’s retirement plan, making sure that the client will be able to enjoy his extravagant lifestyle in the future. At the same time, advice is offered on asset protection and family inheritance. Moving to another country or simply purchasing property abroad often involves dealing with foreign tax laws, considering other legal implications, and tons of paperwork. Taking care of such details is a responsibility of the private banking advisor.

As well as the financial products that you can get from your normal bank, private banking can offer you expert advice on investments and financial products. They can also help you to set up offshore accounts or easily transfer money internationally. The benefits of private banking are that you usually have a bank manager assigned to you that you can take to and get advice from when needed. Most transactions can be done over the phone, and there is no need to queue in a branch in order to transfer money or pay bills.

According to Euromoney's 2010 survey, the best private banking service for ultra-high net worth individuals is provided by JPMorgan. The bank was successful in keeping its reputation intact and its client's money safe during the financial crisis. Among the largest companies that offer private banking services to high net worth customers are Citigroup, UBS AG, Bank of America Global Wealth, Merrill Lynch, Morgan Stanley Global Wealth Management, Wachovia, and Citi Global Wealth Management.

[b]ASIF DOOKHEE (111416)[/b]


Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

International Banking

Post  Admin on Fri 16 Mar 2012 - 21:11

Question (i)
There are numerous banks in Mauritius and each of them has its degree of popularity due to the quality services they tend to provide to each and everyone. The banks which generally rank high in Mauritius are as follows :

- Mauritius Commercial Bank (MCB ): is the oldest and largest banking institution of Mauritius,
as well as one of the oldest banks of the Commonwealth to have preserved its original name.
MCB has a 'universal banking profile encompassing every area of the financial landscape'. One of the international banking services that MCB offer is bank transfer-Moneygram.Moneygram is an established money transfer service that allows customers to send and receive money anywhere in the world.

-State Bank of Mauritius (SBM) : is ranked as the second best financial institution in
Mauritius. One of the international services provide by SBM is the Western Union which is the transfer of money throughout the world SBM also focus on Investment India Fund.

-Hongkong and Shanghai Banking Corporation Limited (HSBC) : is one of the largest banking and financial services organisations. A wide range of products and services such as multi-currency a/cs, foreign exchange and treasury, trade services and HSBC net are provided to meet clients' financial needs.

-Barclays bank PLC: Barclays was the first bank in Mauritius to obtain an offshore banking licence and engages in banking activities in all foreign currencies. Their international banking division bother for the the needs of non-residents who have economic interests outside Mauritus.

- AfrAsia bank: is a Mauritian financial instituition, but with regional reach. It has the capacity to arrange funding for both debt and equity for large transactions, via its partnership with Loita Capital Partners among others. In that international space, its strategy is to tap into the growing trade, investment and other capital flows between Africa and Asia.

These banks are said to be at the top, but this doesn't mean that the others can't deliver such services.


Question(ii)
Private banking is a term for banking, investment and other financial services provided by banks to private individuals disposing of sizeable assets. The term "private" refers to the customer service being rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisors.

In other words,private banking is a form of wealth management service offered to ultra-high net worth individuals.

The services offered by a private bank will include:
-Portfolio investment ideas
-Wealth protection through asset investment such as gold
-Tax avoidance advice
-General financial planning including charitable donations, inheritance, retirement etc

For instance in Mauritius, the Mauritius Commercial Bank(MCB) private banking offers traditional banking as well as exclusive services to high networth individuals.

Regards,
Mary Joanna Cheryl Gabriella Trime

Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

International Banking services

Post  Admin on Fri 16 Mar 2012 - 21:19

Dear all,

(i) There are various banks offering international banking services, below are international banking services that we will examine by some banks in Mauritius:
MCB (Mauritius Commercial Bank Ltd):
• Bank Transfers- Ensure a direct transfer between you and the person of your choice in a matter of hours.
Bank Drafts-
A bank draft is just like an office cheque. It is the cheapest way to send money abroad and is perfect if you are not in a hurry.
Swift transfer: Online transfer in a click-
Swift transfers are also available through MCB Internet Banking, which makes it even easier to transfer money by yourself wherever you are and whenever you want.
• Moneygram- MoneyGram is the solution when you need to send or receive money rapidly
To send money-
Whether you need to support your family, loved ones or friends who are living abroad, or urgently need to send money for whatever reason
To receive money-
Whether you reside in Mauritius or are just visiting, if you need money urgently from your loved ones who are abroad
2) Barclays Bank PLC:
Major products and services offered include:
• International Money Payments
• Multi-Currency Cheque Book
• Fixed Deposit
• Foreign Exchange and Derivatives Transactions
• Investments in International Securities
• Structured Investments
• Securities Services
• International Trade Instruments
• US Dollar and EURO Deferred Debit Cards
• Internet Banking for Corporate Customers
3) Standard Bank:
The Global Markets team trades actively in the full range of financial instruments, both locally and in international markets. The bank provide clients with a variety of both standard and tailored trading and risk management solutions
• Credit derivatives
• Soft commodities financing
• Money markets
• Debit capital markets
• Fixed income
• Research securitization
• Foreign exchange
• Interest rate sales
• Structuring products
4) Bank One:
Foreign Exchange Transactions
• Spot
• Forward
• FX SWAP
• Currency arbitrage
• Money Market Transactions: International cash management and Short-term multi-currency money market loan & facilities
Services offered
• Advice on both local and international markets for currency & interest outlook
• Hedging instruments
• Specialised Information to Importers, Exporters, Institutional investors & individuals
• Investment assistance in derivatives & other structured products (i.e. Double Currency Unit “DOCU” & FX Margin Trading
5) HSBC (Hong Kong and Shanghai Banking Corporation):
• E-banking - HSBCnet-A single entry point for corporate and commercial customers to access HSBC's transactional banking solutions. You can access analytics, research, cash management, securities, and trade products in a way that can be personalised anywhere and anytime.
• Islamic Banking-With the launch of Islamic Banking under the Amanah umbrella, HSBC Bank Mauritius will be able to provide world class Shariah compliant products to clients all around the world combining our global expertise under the supervision of Shariah advisors
• Remittances-With one of the largest international networks of offices and correspondent banks linked by advanced technology, HSBC offers fast and efficient money transmission services worldwide.
• Import & Export Services-HSBC offers a comprehensive range of trade finance services and facilities which are ISO certified. They do our best to deliver service excellence with global reach, supplemented by advanced technology to ensure that import and export transactions are managed effortlessly and effectively.

(ii) Private banking is a term for banking, investment and other financial services provided by banks to private individuals disposing of sizeable assets. The term "private" refers to the customer service being rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisors.
Historically private banking has been viewed as very exclusive, only catering for high net worth individuals with liquidity over $1 million, although it is now possible to open some private bank accounts with as little as $50,000. An institution's private banking division will provide various services such as wealth management, savings, inheritance and tax planning for their clients. A high-level form of private banking (for the especially affluent) is often referred to as wealth management.
The word "private" also alludes to bank secrecy and minimizing taxes via careful allocation of assets. An offshore bank account may be used for this purpose.

Regards,
Ramchurn Manoushka
Student id: 111431

Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

Re: International Banking

Post  Admin on Fri 16 Mar 2012 - 21:20

1. Visit the websites of prominent banks in Mauritius. See what international banking services they provide. Briefly reflect on your understanding of each of them.
International banking is the process in which financial institutions allow foreign clients both companies and individuals to use their services. Perhaps the most talked-about international banks are located in Switzerland. However, many other countries have fully developed international banking infrastructures. Many individuals and companies participate in international banking to minimize (or evade) their tax liability. This strategy, however, has certain disadvantages. In addition, several international organizations have made recent efforts to curb the use of international banks as tax haven. Top banks in Mauritius are MCB- Mauritius Commercial Bank. This is the largest and oldest banking institution that has retained its original name as well. MCB adapts to changes and meets all the new techniques to satisfy its customers. State Bank of Mauritius Ltd has 42 domestic branches. It also has three branches in India. HSBC is also the largest financial and banking services organizations. HSBC offers extensive financial services through its 11 branches including personal banking, consumer finance, financial planning, payments, cash management, project finance, corporate, commercial and institutional banking, trade and export finance, corporate finance, securities custody and financial markets. Mauritius Post and Cooperative Bank Ltd is also one such major banks in Mauritius offering an array of products encompassing corporate banking, treasury services, personal banking and trade finance. Standard Chartered Bank (Mauritius) Ltd is a renowned bank in Mauritius focusing its activities on international banking business and servicing network and international clients. Deutsche Bank (Mauritius) Ltd is a global investment bank with profitable franchisee. Investec Bank (Mauritius) Ltd presents a combination of strategic acquisitions and substantial growth. The goal of this bank in Mauritius is to integrate business to international scale. Barclays’ presence in Mauritius dates back to 1919 when it was incorporated under the name of National Bank of South Africa Ltd. Subsequently the name changed to Barclays DCO in 1926, to Barclays Bank International in 1971 and Barclays Bank PLC in 1988. The Mauritius business is structured as a branch of Barclays Bank PLC with the leasing companies being separate legal entities.
• Mauritius Commercial Bank (MCB), founded in 1838, is the oldest and largest banking institution of Mauritius. It is also the oldest banking institution south of the Sahara and one of the oldest banks of the Commonwealth to have preserved its original name. The holding structure of the MCB Group translates its two-fold strategy namely diversification into financial services through local subsidiaries and associated companies and regional expansion through its foreign subsidiaries. The Mauritius Commercial Bank Ltd (MCB) has commendable market shares of above 40% in the domestic banking sector and is increasingly positioning itself as a prominent financial player in the Indian Ocean. With over 16,000 local and foreign shareholders (none holding a state of more than 4% in total), MCB has the largest market capitalization on the Stock Exchange of Mauritius at some Rs 46 Billion representing more than 24% of the total as at February 2008 and become the first domestic company to reach the USD 1 Billion mark in terms of market capitalization. The services that MCB offers are as follows:
• MCB has a local network of 40 modern branches and 150 automatic teller machines.
• MCB’s corporate division offers an extensive range of products and services dealing with local and offshore companies as well as the financing of projects.
• MCB Private Banking offers traditional banking as well as exclusive services to high net worth individuals.
• The Group is present in the Seychelles, Madagascar, Mozambique, Maldives and South Africa through a representative office. MCB also operates branches in Reunion, Mayotte and Paris through Banque Française Commerciale Océan Indien, a joint-venture with Société Générale. The MCB Group further participates in key cross-border syndication and risk-sharing arrangements. Its International division offers project financing, trade facilitation and e-commerce enablers. MCB has a SWIFT agreement with over 1,600 partner banks throughout the world.
• The MCB Capital Markets Group MCB Capital Market provides a wide range of investment-related services through subsidiaries.
• MCBIM is a specialist investment manager for corporate and institutional clients. MCBIM is licensed and regulated by the Financial Services Commission (FSC), the integrated regulator for the non-bank financial services sector in Mauritius, under section 14 of the FSD Act 2001 to conduct asset management and investment advisory services. At 31 March 2010, MCBIM managed a total of Rs 8.6 billion. GHF Futures is a joint venture between GHF Holdings and MCB Capital Markets. GHF Holdings has other trading offices in London, New York, Israel, India, China & Hungary. The company is involved in activities leading to trading in derivatives on exchanges in the UK, US, mainland Europe and all over the world. GHF Futures trades on the five major futures exchanges in the world.
• MCB Group is represented on: Facebook, twitter, LinkedIn, YouTube and Foursquare.
MCB provides various banking and financial services to individuals and corporate customers, and financial institutions worldwide which include current, savings, fixed deposit, foreign currency, and foreign currency term deposit accounts; credit and debit cards; bank guarantees; safe deposit lockers; confidential reports; custody services; telephone and Internet banking services. In addition MCB offers various trades financing products; international payment services; and travelling services, such as foreign bank notes, travelers’ checks and business credit cards.

• State Bank of Mauritius
• State Bank of Mauritius (SBM) was established in 1973 and is the second largest bank in Mauritius. The bank has a market share of about 25% of domestic banking assets. State Bank of Mauritius has 42 domestic branches, and three branches in India. SBM provides services in retail banking, small and medium enterprises, wealth management & private banking, corporate banking and international banking & global business, treasury services, e-business, fiduciary services, asset financing, stock-broking and asset management. SBM was listed on the stock exchange of Mauritius in 1995. Bank of Mauritius's key attributes have been innovation, flexibility, accessibility and reliability that have significantly contributed to the bank's reputation and trustworthiness. The bank has approximately 17, 000 domestic and international shareholders. The State Bank of Mauritius has more than 1,200 employees and services over 340,000 customers benefiting through its network of 48 service units and counters in Mauritius, India and Madagascar. SBM is increasing looking forward and laying greater emphasis on international operations as well as non-banking activities. In 1998, SBM established a subsidiary in Madagascar. The following year, SBM and Ned core established SBM Ned core International (SNI) as a joint venture and engaged in offshore banking. SBM also has a joint venture with State Bank of India in which SBM disinvested its 49 percent equity holding in SBI International.
• Presence in India
SBM opened its first overseas branch in Mumbai in 1994. SBM also operates in India via a network of 2 other branches, namely in Chennai and Hyderabad, which opened up in 1997 and 1998 respectively. The SBM Group is committed to building a universal banking franchise in India with the help of its diversified portfolios.
• Products and Services
SBM is well established in domestic banking with a diversified and loyal customer base, serviced through a large branch network by employees who are responsible to evolve client needs. Apart from serving a wide range of savings, investment and financing products, in both local and foreign currency, SBM offers a large portfolio of cards specially designed to meet the needs of specific customer segments. SBM's wealth management and private banking segment is specialized in providing readymade financial planning solutions, investment advice and services to corporates, high net worth individuals and families, both national and international. SBM also offers extensive interactions between the private banking, asset management and securities departments by providing discretionary investment management as well as execution only services, banking and credit solutions. it also offers a wide range of products and services related to wealth management. SBM also measures portfolio performance and provides customized reports to enable better tracking by customers. Treasury services provided by SBM cover different financial products including foreign exchange, money market, fixed income and commodities trading. SBM's professional and dynamic treasury team offers a range of services to customers, from up-to-date market information and advice to timely execution of deals.
• NRI Oriented Services
SBM as a growing international bank in the wholesale banking segment provides a wide range of corporate and commercial banking services. This wide range of services include corporate lending, treasury services, cash and trade transaction services to corporate, financial institutions and small and mid-tier clients across industries and segments. SBM also offers an array of readymade deposit products to Non-Resident Indian (NRI) and Person of Indian Origin (PIO) customers based on their investment needs.

• Barclays, whose presence in Mauritius dates back to 1919, provides a wide range of banking services to personal and corporate customers. Barclays Bank PLC - Mauritius is also present in the asset finance (leasing) business. Barclays Bank PLC - Mauritius introduced new concepts in retail banking in the country: kiosk banking, work-place banking, consumer finance, door step banking in Mauritius, etc. Through its “Premier Life” proposition, Barclays Bank PLC - Mauritius centers its service to its top notch customers on Relationship Banking, matching World Class Service and products to individual customer needs. Barclaycard has been operational in Mauritius for more than 10 years. It is a part of the Barclays Group and is involved in both issuing and acquiring cards. Barclays is a universal bank and is organized within two business 'clusters': Corporate & Investment Banking and Wealth Management, and Retail & Business Banking. The Corporate & Investment Banking and Wealth Management cluster comprises three business units: Barclays Capital (investment banking), Barclays Corporate (commercial banking) and Barclays Wealth (wealth management). The Retail & Business Banking cluster comprises four business units: Barclaycard (credit card and loan provision), Barclays Africa, UK Retail Banking and Western Europe Retail Banking. The types of services provided are: provide offshore banking, savings, investments, and mortgages, which can be used to help you build your wealth, use and enjoy it, protect it and pass it on. Foreign exchange (FX) and currency services. You can take advantage of a broad range of FX services from forward and spot transactions through to our free online currency monitoring tool iAlert and FX educational resources. Business Solutions Current Account:-Local and Foreign currency accounts, Cheques Book, Standing orders, Auto transfers, Local and international transfers, Draft and Deposits. Business Solutions Fixed Deposit account:-Fixed Deposits are available in both local and foreign currency (contact us for details of available currencies), a minimum balance of SCR 100,000 is required for local currency Fixed Deposits and Equivalent of USD 50,000 for foreign currency Fixed Deposits, flexible interest rate is payable on Fixed Deposits. Secured Loans and Overdrafts:-Term Loans as from SCR 3,000,000# / Term negotiable, overdraft facility / Reviewable yearly. Trade Finance: - Bank Guarantee, Performance Bonds and immigration bonds. Internet banking, Business Solution Debit card, safety and flexibility.

• HSBC - HSBC Bank (Mauritius) Limited is a wholly owned subsidiary of the HSBC Group, having been incorporated in Mauritius in 2006. HSBC operates the largest offshore bank in Mauritius.HSBC Holdings plc. (Commonly known as HSBC) is a British multinational banking and financial services company headquartered in London, United Kingdom. As of 2011 it was the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine. HSBC is a universal bank and is organized within four business groups: Commercial Banking; Global Banking and Markets (investment banking); Personal Financial Services (retail banking and consumer finance); and Global Private Banking. It has around 7,500 offices in 87 countries and territories across Africa, Asia, Europe, North America and South America and around 100 million customers. As of 30 June 2010, it had total assets of $2.418 trillion, of which roughly half were in Europe, a quarter in the Americas and a quarter in Asia. HSBC Holdings plc was founded in London in 1991 by The Hong Kong and Shanghai Banking Corporation to act as a new group holding company and to enable the acquisition of UK-based Midland Bank. The origins of the bank lie in Hong Kong and Shanghai, where branches were first opened in 1865. Today, HSBC remains the largest bank in Hong Kong, and recent expansion in mainland China, where it is now the largest international bank has returned it to that part of its roots. HSBC has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. As of December 2011 it had a market capitalization of £87.4 billion, the third-largest of any company listed on the London Stock Exchange. It has secondary listings on the Hong Kong Stock Exchange (where it is a constituent of the Hang Seng Index), the New York Stock Exchange, Euronext Paris and the Bermuda Stock Exchange. Through its international network linked by advanced technology, including a quick growing e-commerce capability, HSBC provides a comprehensive range of financial services: commercial banking; personal financial services; corporate, investment banking and markets; private banking; and other activities. HSBC is a leader in traditional trade. Streamline operations and grow your business by partnering with HSBC. Capture opportunities generated by South-South trade. You'll get an extensive range of trade and supply chain services and the expertise of our trade specialists, underpinned by our global network across developed and emerging markets. HSBC Mauritius is a leading provider of financial services to local companies across the whole spectrum from SMEs to local Top 100 companies as well as locally listed conglomerates. We provide a wide range of products and services that are typically designed to suit the particular needs of every corporate customer, including term loans, working capital lines, trade facilities, PCM solutions and treasury products. Each client has an assigned Relationship Manager who is there to fully understand the client's needs and provide the most appropriate solutions. The services that it provide E-Solutions-Simplify your trade processes and stay in control of your operations with a comprehensive and effective range of e-trade products and solutions. You’ll improve the efficiency of your trade operations and get peace of mind knowing your business is in safe hands. Supply chain business-Take advantage of specialist trade expertise and global reach to keep your supply chain running smoothly and efficiently. We’ll help you develop and implement tailored solutions across your supplier/buyer network. If you are a large supplier, HSBC can prepare and dispatch export documents on your behalf using a mix of technology and expertise, thereby allowing you to benefit from significant cost savings and increased resource flexibility. Export services-Reduce the risks of delay or non-payment when you undertake international trade so you can focus on expanding your export business. Import services-Whatever your sourcing requirements and wherever in the world you do business, HSBC is perfectly positioned to fulfill your trading needs. On the other hand, HSBC Securities Services (Mauritius) Ltd provides a comprehensive range of services to Foreign Institutional Investors These services include Safe Custody, Receipt and Delivery of shares and debt, Corporate Action reporting, Cash reporting, Foreign exchange services, Income Collection and Portfolio reporting.
• Standard Chartered PLC (LSE: STAN, SEHK: 2888, NSE: STAN, OTCBB: SCBFF) is a multinational financial services company headquartered in London, United Kingdom with operations in more than seventy countries. It operates a network of over 1,700 branches and outlets (including subsidiaries, associates and joint ventures) and employs around 80,000 people. It is a universal bank and has operations in consumer, corporate and institutional banking and treasury services. Despite its British base around 90% of its profits come from Africa, Asia and the Middle East. Standard Chartered has its primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £33 billion as of 23 December 2011, making it the 13th-largest company on the London Stock Exchange. It has secondary listings on the Hong Kong Stock Exchange and the Indian Stock Exchanges. Its largest shareholder is the Government of Singapore-owned Temasek Holdings, which Temasek bought from the children of Khoo Teck Puat in March, 2006. Standard Chartered are the current sponsors of Liverpool Football Club and of the English Premier League. The Standard Chartered Bank (Mauritius) Ltd is locally incorporated and is a single-branch operation offering wholesale banking products-loans, overdrafts, trade finance, foreign exchange, accounts opening, and cash management and has also the capability of offering selected consumer banking products. The business is supported by an internally designed banking system which provides an interface with web banking, providing the flexibility to customers to manage their accounts and initiate outward remittances.
• Deutsche Bank AG (literally "German Bank"; pronounced [ˈdɔʏtʃə ˈbaŋk] is a global banking and financial services company with its headquarters in the Deutsche Bank Twin Towers, Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia-Pacific and the emerging markets. In 2009, Deutsche Bank was the largest foreign exchange dealer in the world with a market share of 21 percent. Deutsche Bank has offices in major financial centers including New York, London, Frankfurt, Paris, Moscow, Amsterdam, Dublin, George Town, Cayman Islands, Toronto, São Paulo, Singapore, Hong Kong, Tokyo, Sydney, Dubai, Riyadh and Mumbai. The bank offers financial products and services for corporate and institutional clients along with private and business clients. Services include sales, trading, research and origination of debt and equity; mergers and acquisitions (M&A); risk management products, such as derivatives, corporate finance, wealth management, retail banking, fund management, and transaction banking.
• The Mauritius Post and Cooperative Bank Ltd (MPCB) stands out as one of the major banks of the island with a passion for customer service, offering a vast array of products and services encompassing Personal Banking, Corporate Banking, Trade Finance & Treasury Services. Domestic operations comprise a national network of 15 branches and 19 ATMs around the island. In addition to offering a range of traditional banking services, MPCB is continuing to enlarge its product portfolio to include new financial products to meet market needs. MPCB believes in putting customers first. Knowing where we are going speeds up the journey. Knowing our customers better makes the journey a pleasant and mutually rewarding one. The Mauritius Post and Cooperative Bank Ltd (MPCB) was set up in August 2003 and is growing at a significant pace to play a pivotal role in the financial sector in the region. The Bank remains committed to a healthy growth strategy by offering a wide range of financial services including retail and corporate banking.

2. What is private banking?
Private banking is term for banking, investment and other financial services provided by banks to private individuals disposing of sizeable assets. The term “private” refers to the customer service being rendered on a more personal basis than in mass-market retail banking usually via dedicated bank advisors. An institution's private banking division will provide various services such as wealth management, savings, inheritance and tax planning for their clients. A high-level form of private banking (for the especially affluent) is often referred to as wealth management. Private Banks are banks that are not incorporated. A private bank is owned by either an individual or a general partner(s) with limited partner(s). In any such case, the creditors can look to both the "entirety of the bank's assets" as well as the entirety of the sole-proprietor's/general-partners' assets. These banks have a long tradition in Switzerland, dating back to at least the revocation of the Edict of Nantes (1685). "Private Banks" can also refer to non-government owned banks in general, in contrast to government-owned (or nationalized) banks, which were prevalent in communist, socialist and some social democratic states in the 20th century. Private Banks as a form of organization should also not be confused with "Private Banks" (also Private Banking) that offer financial services to high net worth individuals and others. Examples of private banks include Barclays, HSBC and AfrAsia Private Banking. The benefits of private banking include: - Ensures quick, real-time reaction to market fluctuations thanks to continuous market monitoring by the personal manager, personal team-a team consisting of professionals is always there to help you and your family, guarantees professional oversight over the risk and protection of investments, a personal financial strategy will be prepared for you at least once a year, the benefit of privacy and it offers investment management services with a full or consultation mandate. The disadvantages of private banking include:-
• Surplus employees: The defect of the system is that some of the workers are declared surplus. There is an increase in the rate of unemployment. The unemployed workers commit crimes in this society.
• No of branches in rural areas: The private bank owners do not like to setup there branches in rural areas. The banking facilities remain confined to cities where sufficient deposits are available. A large part of population will be deprived of banking facilities.
• Unbalanced growth: The management of privatized banks provides credit in specific areas and people. As a result, there is unbalanced growth in the country; especially rural areas may remain under developed where credit facilities do not exist.
• Jobs for relatives: The management of privatized banks may provide jobs to their friends and relatives. The deserving persons are ignored.
• Loans for few persons: The management of privatized bank can extend loans of their favored persons. In this way only few persons are benefited.
• Owners association: The aim of privatized banks is to earn profit. For these purpose owners associations are made which enter into agreement of earning high profit. The bank can increase the rate of service charges. Such associations may not care for customer's welfare.

Regards,
Marie Corina Beesoo


Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

Re: International Banking

Post  Admin on Fri 16 Mar 2012 - 22:26

(i) See what international banking services they provide. Briefly reflect on your understanding of each of them.
International Banking Services
International banks such as Citi Bank, HSBC, Barclays Bank, PNC, Bank of America and many other big financial institutions offer service to clients across the globe. Most of the banks in the U.S. are affiliated to The International Financial Services Association (IFSA) which handles more than 98 percent letters of credit for its members, a form of payment usually used in international trade. Offshore banking is also part of international banking services in which clients assets are discreetly managed without outside scrutiny.
Offshore banking is the practice of saving one's money in a bank that lies outside the country in which the depositor lives. An example would be a U.S. citizen saving her money at a German bank. The term offshore is somewhat of a misnomer in that a bank need not necessarily be offshore or across a body of water from the depositor, meaning a French saver putting money into a Swiss bank could still be considered an offshore account. Like all banks, foreign banks run by bringing in capital and using it for a variety of lending and managing practices--banks generally do not discriminate where their money comes from.

There are various banks that provide these services in Mauritius such as HSBC, Barclays, Standard Chartered Bank.
Barclays
International Banking Division is divided in different sub-departments there:
1. Global Business Clients
The main points of contact for management companies. They deliver a relationship proposition that adds value at all levels of contact and acts as the single gateway team into Barclays and the wider group.
2. Corporate Clients
They offer a range of services and products to companies:
• Credit facilities - short term loans and working capital finance, medium and long term loans in a variety of sectors
• Structured financing
• Foreign exchange and derivative
• International trade instruments- LC issuance, guarantees, bill discounting and documentary collections
• Syndicated Loan Market. Participation in Syndicated loan market by actively seeking transactions in London/Far East /Africa
3. Securities Services
Different team has established themselves as the leading provider of tailored custody and securities administration services to both local and international institutional investors in Africa.
4. Account Opening Team
Barclays have a dedicated team driving the account opening process. At the dawn of this new business era, where customers are becoming more sophisticated in their needs and with an ever growing expectation, our account opening team understand the dynamics to be more customer-oriented, strengthening our procedure with the implementation of new processes such as Lean to reduce waste and ultimately delight customers.
5. Transaction Services Unit
Our team provides the execution of All payment instruments as per your request within the international standard time-frame of two business days. This service is provided in all the major trading currencies and facilitated through the Global Swift Network.

Standard Chartered Bank (Mauritius) ltd
It is a renowned bank in Mauritius focusing its activities on international banking business and servicing network and international clients.
Its international banking services include:
• 1.Offshore multi-currency accounts
• 2.International payments and transfers
• 3.Cash custodian facilities
• 4.Credit facilities
• 5.Structured trade finance
• 6.Debt syndications
• 7.Treasury products
• 8.Escrow agent

HSBC Bank (Mauritius) ltd
International services provided :
 Import services
HSBC offer a wide range of import services, delivered by our experienced trade team. With the support of our global network, we have HSBC representatives to assist your around the world.

Import-related services include:
• Documentary letters of credit
• Post-import finance
• Shipping guarantees
• Clean import loans
• Transferable and back-to-back letters of credit

 Export services
Exporters can face significant risks when they undertake international trade, not least the fear of delay or non-payment. Whether you are a new or a long-established exporter, HSBC Trade and Supply Chain can help to reduce risks, allowing you to focus on growing your export business.

HSBC Mauritius offers the following products:
• Export documentary credit confirmation
• Export documentary credit negotiation and payment
• Electronic export documentary credit advising
• Export documentary collections
• Pre-shipment finance
• Post-shipment finance
• Purchase/discount of collection bills
• Loans against export

(ii) What is private banking?
Private banking is banking, investment and other financial services provided by banks to private individuals investing sizable assets. The term "private" refers to the customer service being rendered on a more personal basis than in mass-market retail banking. These banks have a long tradition in Switzerland, dating back to at least the revocation of the Edict of Nantes (1685).
Above a certain level of wealth, you need customised advice from someone who understands your unique circumstances and this is when private banking comes into play.
Private Banking provide various facilities namely:
Your fiscal position can be quite complicated.
• Specialised tax guidance
You may have assets in several different countries and currencies.
• International portfolio management
You sometimes need specialised loans for one-off situations.
• Personalised credits and leasing services
You need to be in compliance with many regulatory environments.
• Complete compliance and security
You require expert, integrated advice for your investment portfolio.
• Experienced private bankers

Advantages of Private Banking:
 Personal team – a team consisting of professionals is always there to help you and your family.
 A Private Banking client contract enables you to carry out all of your everyday banking over the phone, simply by contacting the team that is serving you.
 A personal financial strategy will be prepared for you at least once a year.
 We offer you investment management services with a full or consultation mandate.
 You can also meet with the Private Banking Strategist.
 You are served in privacy: meetings with you are held in the cosy rooms of SEB Private Banking on the 15th floor of the SEB headquarters.
 You will also be invited to regular client seminars and other events.
 When visiting Private Banking, you can park your car conveniently in the underground Tornimäe car-park of EuroPark free of charge.

Disadvantages of Private Banking:
 Surplus employees: The defect of the system is that some of the workers are declared surplus. There is an increase in the rate of unemployment. The unemployed workers commit crimes in this society.

 No of branches in rural areas: The private bank owners do not like to setup there branches in rural areas. The banking facilities remain confined to cities where sufficient deposits are available. A large part of population will be deprived of banking facilities.

 Unbalanced growth: The management of privatized banks provides credit in specific areas and people. As a result, there is unbalanced growth in the country; especially rural areas may remains under developed where credit facilities do not exist.

 Jobs for relatives: The management of privatized banks may provide jobs to their friends and relatives. The deserving persons are ignored.

 Loans for few persons: The management of privatized bank can extend loans of their favored persons. In this way only few persons are benefited.

 Owners association: The aim of privatized banks is to earn profit. For these purpose owners associations are made which enter into agreement of earning high profit. The bank can increase the rate of service charges. Such associations may not care for customer's welfare.

Regards,
Abdel Sahebally (111437)

Admin
Admin

Posts: 76
Join date: 2012-02-18
Age: 23

View user profile http://bbif.africamotion.net

Back to top Go down

Page 1 of 3 1, 2, 3  Next

View previous topic View next topic Back to top


Permissions in this forum:
You cannot reply to topics in this forum