International Banking

Page 2 of 2 Previous  1, 2

View previous topic View next topic Go down

International Banking Feedback.

Post  Admin on Sat 17 Mar 2012 - 5:17

Mary Joanna Cheyl Gabriella Trime: Thanks for the feedback, but i do have mention the international banking services of SBM (review them again). Firstly i have mention the global business that is it deal with the international and investment banking division and SBM provides world class banking services to serve its customers (it can be depositors or financial seekers). On top of that the main international banking service it provide is the western union that is the tranfering of money especially from Mauritius to India.

But i would like to ask you concerning the Barclays and the AfrAsia Bank, you have just gave definition of the two banks, you have not mention any international banking services concerning the two. For Barclays bank you can review my post i have mention some international banking services and See Asif Dookhee post you will get an idea about the international banking services for AfrAsia bank...:)


Regards;
Seeruttun Oujwalsingh

Admin
Admin

Posts : 76
Join date : 2012-02-19
Age : 26

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

Back to top Go down

Re: International Banking

Post  Admin on Sat 17 Mar 2012 - 9:51

I'll kindly request you that before you post something, please read previous posts, especially mine. Inspite of requesting you to be brief and concentrate on only one bank, you are posting very long answers.

And still no critics for your friends' posts found.

Regards,

VP, Lecturer

Admin
Admin

Posts : 76
Join date : 2012-02-19
Age : 26

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

Back to top Go down

Re: International Banking

Post  Admin on Sat 17 Mar 2012 - 11:28

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?

The Mauritian banking industry comprises of 20 banks, of which 7 are local banks, 8 are foreign owned subsidiaries, 1 is a joint venture and 4 are branches of foreign banks. All the banks are licensed by the Bank of Mauritius to carry out banking business locally and internationally. Some of the biggest and most reputable international banks are present in Mauritius and actively carry out international cross border activities.

Banks render several services in the country. Besides traditional banking facilities, they offer card-based payment services, such as credit and debit cards provide internet banking and phone banking facilities. Specialized services such as fund administration, custodial services, trusteeship, structured lending, structured trade finance, international portfolio management, investment banking, private client activities, treasury and specialized finance are also offered by banks. The international banks offer a wide range of global banking and financial services to corporate, institutional and private clients.

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

Mauritius Commercial Bank

The Mauritius Commercial Bank (MCB) is arguably the most popular bank in Mauritius. This does not however prevent it from having extremely poor customer service and from regularly wreaking havoc in customer accounts. Their new system, which apparently took no less than three years to complete, is riddled with problems.

For a bank that supposedly makes tons of profits every year, they have a horrible website which uses frames and is downright ugly. Moreover, the Internet Banking section is unusable and often requires multiple logins if you wish to do various transactions online. Simply checking your account transactions requires four or five clicks, which is probably a record in usability history. The ironic thing is that this is a new website that was supposed to be "ground-breaking" and was part of a three-year development process. They apparently changed their whole system and gleefully screwed everybody when the new system was launched last year.

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.
The Mauritius Commercial Bank Ltd., together with its subsidiaries, provides various banking and financial services to individuals and corporate customers. The company offers current, savings, fixed deposit, foreign currency, and foreign currency term deposit accounts; credit and debit cards; business and corporate cards; car, educational, housing, personal, and other loans; and corporate loans, project finance products, loan syndication products, short and long term finance products, bridging loans, overdrafts, and debentures. It also provides bank guarantees; safe deposit lockers; confidential reports; custody services; private and business banking services, and leasing services; and merchant, checking facilities, payroll, registrar, secretarial, and factoring services.
In addition, the company offers various trade financing products; stock broking and fund management services; international payment services; foreign exchange services; investment, securities, advisory, and brokerage services; currency swaps, spot and forward deals, and international transfers and remittances, as well as telephone and Internet banking services. It operates a network of approximately 40 branches and approximately 160 automated teller machine locations. The Mauritius Commercial Bank Ltd was founded in 1838 and is headquartered in Port Louis, Mauritius.
Financial activities have been largely dominated by banking activities. The Bank of Mauritius is the central bank. Mauritius has a long tradition of commercial banking dating back to 1812 and the largest Mauritian bank.

The Mauritius Commercial Bank and the State Bank of Mauritius are the two largest banks with subsidiaries internationally. Mauritius offers modern and professional banking services including credit cards, ATMs, phone, electronic and offshore banking. Various loan facilities and packages are offered to both Mauritian and foreign business people. The Development Bank of Mauritius (DBM Ltd.) is another important institution which although privatized is controlled by government. The DBM provides medium and long-term loans to large and medium-sized industrial enterprises as well as to small enterprises under concessionary lending schemes.

State Bank of Mauritius:

State Bank of Mauritius (SBM) is the second biggest bank in Mauritius with a market share of about 25% of domestic banking assets. The lines of business include: Retail Banking, Small and Medium Enterprises, Corporate, International and Investment Banking, Treasury services, Wealth Management & Private Banking, eBusiness, Fiduciary services, Asset Financing, Stockbrocking and Asset Management. It was listed on the Stock Exchange of Mauritius in 1995.

SBM started operations in 1973 and was listed on the Stock Exchange of Mauritius in 1995. Innovation, flexibility, accessibility and reliability are the key attributes that have contributed to the Group’s reputation and trustworthiness. Owned by nearly 17,000 domestic and international shareholders, SBM has more than 1,200 employees and services over 340,000 customers through its network of 48 service units and counters in Mauritius, India and Madagascar. Going forward, the Group is laying greater emphasis on international operations as well as non-banking activities. The SBM brand value also benefits from continued investment in people, infrastructure and technology.
SBM is well entrenched in the domestic banking landscape with a diversified and loyal customer base, serviced through a large branch network by employees who are being made more responsive to evolving client needs. Besides a broad range of savings, investment and financing products, in both local and foreign currency, SBM offers a large portfolio of cards, designed to suit needs of specific customer segments. Innovation and market insights continue to drive product development. In line with the Group’s diversification strategy and in view of market trends, the Group is now looking to further develop its Small and Medium Enterprise business as well as Wealth Management & Private Banking services.

SBM is specialized in providing tailor-made financial planning solutions, investment advice and services to corporate, high net worth individuals and families, both locally and abroad. The unit offers increased 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, advice in all areas of financial planning and wealth structuring and offers a large range of products and services related to wealth management. It also measures portfolio performance and provides customized reports to enable better tracking by customers, especially those pursuing multiple investment strategies.

The Corporate Banking and International Banking & Global Business Divisions of the Group, through their growing team of professionals, provide comprehensive financial solutions to their business customers across geographical borders and industrial portfolios. These include traditional banking products, transactional banking services, asset finance, commercial loan and working capital finance, structured finance, structured trade finance and project finance, in both local and foreign currencies.
SBM encompass different financial products including foreign exchange, money market, fixed income and commodities trading. The Group’s professional and dynamic treasury team offers an array of services to customers, from up-to-date market information and advice to timely execution of deals. Products offered to customers range from basic spot, forward and swap transactions to currency options and structured deposits, tailored to the requirements of our customers.

In line with its spirit of innovation, the Group has invested in state-of-the-art technology to place multiple, reliable and sophisticated electronic delivery channels at the service of its customers for convenient banking from anywhere on a 24/7 basis. These channels include an e-Commerce platform, internet and mobile phone banking services as well as an extensive network of Point of Sales and Automated Teller Machines. Capitalizing on superior technology, SBM has introduced a number of innovative products in the eBusiness segment. SBM has also invested considerably in risk management infrastructure to provide a safe and secure platform for its customers.

The Bank has a well-diversified credit portfolio, whether by segment or by industry group. International business expansion is also helping the Group to further spread the risk in its books. The Group’s risk management structure is independent from the business generating areas to avoid conflicts of interest, and is overseen by the Board of Directors. The Risk Management Unit ensures adherence to regulatory norms and the risk appetite limits and recommends changes to the set risk parameters and limits. The risk management capabilities are supported by good management information systems, a solid internal rating system and robust policies. Testifying to the robustness of its risk management framework, asset quality remains sound with the gross and net impaired ratios at 2.0% and less than 0.5% respectively as at June 2009.
The Group’s people strategy is at the heart of its growth objectives. SBM employs more than 1,200 staff in Mauritius, India and Madagascar. These employees are core to the organization in providing quality service to customers, thus generating sustainable business and building the brand. As a key source of competitive advantage, human capital has gained increasing importance notably through a clear program of retention, motivation, training and reward.
SBM has been awarded "Bank of the Year, Mauritius" three times since its launch by The Banker, Financial Times Group, in London. Moreover, the inaugural "Best Bank in Mauritius" by Euro money was awarded to SBM for three consecutive years from 2004 to 2006. SBM was the first runner up in the recent Africa investor Index Awards 2009, in the Best Performing Ai40 Company category. It has also been awarded «Best Bank Mauritius».

Barclays bank:

Barclays is one of the leading financial services group world-wide. Barclays has been involved in banking for over 300 years and operates in over 60 countries, including all of the major financial centres. Barclays' presence in Mauritius dates back to 1919, and since that time the Bank has played a key role in the expansion of business in the island. The excellent reputation we have established over the past 80 years is based on our substantial capital resources, high credit rating and group financial strength. We are committed to providing the products and services that are constantly exceeding our customers’ expectations. Our aim is to be the customer's first choice as the provider of innovative and dependable financial solutions
Barclay’s offers personal banking services to customers in 20 key countries around the world, and provides credit card facilities through Barclaycard to many more. Products and services for personal customers include:
• Bank accounts, from entry-level through to premier options
• A range of credit cards through Barclaycard
• Savings accounts
• Loans
• Insurance
• Online banking
• Mortgages through Woolwich.
Barclays also offers a preferential banking service through Barclays Premier to customers in selected countries around the world. The services available to Premier customers include:
• A preferential service for everyday banking needs
• A local relationship team
• Exclusive lifestyle membership programmes
• Premier global lounges in key cities across the world
• Preferential banking products.
Barclays provides a range of financial services to business customers all over the world, offering, when appropriate, specialist advice and products to meet their diverse demands. Products and services for corporate and business customers include:
• Support for businesses of any size – from microenterprises to multinationals
• Online banking
• Savings and investments
• Card services
• Risk management
• Access to services from Barclays Investment Banking and Investment Management portfolio
• Leveraged finance
• International trading
• Business loans.

HSBC Bank (Mauritius) ltd:

The Hong Kong Shanghai Banking Corporation, (www.asiapacific.hsbc.com), 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.

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. They 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, 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.

HSBC also offer advice on all import and export-related issues through our Trade and Supply Chain Services Team, which is ideally placed to support the long-term growth of our customer's businesses. The banks combine a unique blend of local knowledge and award-winning international trade expertise, supported by advanced technology and our extensive network of dedicated trade services offices in over 50 countries and territories.

It is this winning combination that makes us the natural choice international trade partner for our customers, wherever in the world they do business. We can help put your customers in control of their operations and assist them to streamline their trade processes with our advanced technology. Their aim is to ensure that their import and export transactions are managed effortlessly and effectively, providing them with the best possible opportunities to grow.

HSBC Bank Mauritius also enjoys the services of HSBC Group’s Global Banking which is one of the largest businesses of its kind in the world. Our Global Banking offers a wide range of services including borrowing facilities to corporate clients primarily in India, South Africa and Thailand and to Offshore Companies based in Mauritius.

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
• Portfolio reporting
• Proxy service.
HSBC Mauritius offers a wide range of products and services to a diverse domestic and cross border customer base, from accounts services to credit cards, savings, investments, home loans, personal loans and custodian services. Its innovative all-in-one priority banking service, and capital secured and open-ended investment products enable HSBC to deliver customized and value added services to its customers. HSBC is the second largest credit card issuer in Mauritius and offers Rewards, a comprehensive and unique loyalty programs.

HSBC Mauritius has been marketing and distributing investment products manufactured by HSBC in Jersey and Hong Kong since 1999. The products available on the shelf range from capital protected funds to open-ended funds are designed to suit different levels of customers risk appetite. At International Investment magazine's annual Offshore Fund and Product Awards 2008, HSBC Bank International Limited received the top honor by being awarded the title,’ Best International Bank Group’. Four key principles have been acknowledged by this prestigious award: value, choice, growth potential and security, all of which can be seen in our new funds.

HSBC Mauritius draws upon the HSBC Group’s global systems with the aim of providing customers with choice, convenience and control across multiple channels, namely HSBCnet, which is a range of products and services that encompass our Corporate, Investment Banking and Markets business, delivering tailored financial solution to customers via internet. It provides a single point of entry to our internet solutions and complements our other channels.
Import services:
The HSBC offer a wide range of import services, delivered by our experienced trade team. With the support of global network, HSBC representatives to assist around the world. Import-related services include:

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.

To benefit from HSBC's export services, there is no need to have special facilities. Simply request the buyers to advise documentary credits through us to benefit immediately from the international network.

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

HSBC can issue with an undertaking upon customer 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:
• Performance Bonds
• Tender Bonds
• Advance Payment Bonds
• Other Bank Guarantees

Mauritius Post and Cooperative Bank ltd (MPCB):

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.
The Bank's delivery channels include 15 branches and 19 ATMs, including 3 offsite ATMs in strategic locations. Expansion of branch and ATM networks will be ongoing and will be done in a phased manner in the years to come. Banking services are also offered in the 100 Post Offices across the island and in Agalega. New products have been introduced and existing products re-branded to better serve the retail and corporate segments. MPCB has transformed itself into “The People's Bank”.

The Bank's structures are sprout from a solid operating model based on good corporate governance practices, in alignment with the Central Bank’s rules and regulations, International Accounting Standards and adherence to the Banking Act 2004. MPCB fully complies with Anti Money Laundering Act 2002 and is working towards compliance to the Basle II international standards on risk management practices and risk adjusted capital requirement norms.

MPCB aims to make an ample contribution to support economic growth in Mauritius through the diversified and customized products and services offered.MPCB has built up, and maintains, corporate relationships through commitment, reliability and trust. MPCB provides customer oriented business solutions and includes lending products, trade finance, import and export finance, treasury, foreign exchange services and foreign currency accounts.

Dedicated account relationship managers provide tailor-made business solutions to satisfy the customer's requirements and remain committed to deliver the best services, providing the support and advice at the right time for corporate customers to achieve their objectives.MPCB has a vision which is defined in its strategic five year plan and its business plan. The key imperatives that drive MPCB’s business strategy are profitability, customer loyalty, market share, overall process efficiency, risk management and building a flexible, committed and responsive organization.
MPCB's future orientation remains an ongoing and a continuous commitment to the highest level of integrity, transparency, accountability, professionalism and compliance with good Corporate Governance.

MPCB Ltd has its association with Money gram 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 Money gram in Mauritius. Money gram is an established money transfer service that allows customers to send and receive money anywhere in the world. Money Gram International Inc is listed on the New York Stock Exchange under the ticker symbol MGI.
Money Safe -Money can be transferred quickly and safely from an extensive network of over 100,000 quality agents, linked by computer. Hundreds of thousands of people all over the world already used the Money Gram service and trust its reliability and security.
Money Fast -Money gram is available in over 170 countries and your money is transferred immediately and is ready to be collected in just 10 minutes. There are no complicated procedures and you do not need a bank account or credit card to effect the transfers.
Every transaction is recorded and analyzed to prevent fraud and money laundering and all agents, senders and receivers are screened at a central level.

Standard Chartered Bank :

Standard Chartered bank (Mauritius) limited was established in 2002 and its activities focus on international banking business, servicing standard chartered bank network clients as well as international client referred by local management companies. As an offshore banking unit, the standard chartered bank has been granted a banking licence by the Bank of Mauritius. The bank is incorporated in Mauritius as a wholly owned subsidiary of Standard chartered bank and is a tax resident in Mauritius for purpose of the double tax agreement that Mauritius has signed with other European, Asian and African countries .Standard Chartered bank is one of the leading international offshore banks in Mauritius offering a wide range of wholesale banking products.

Standard Chartered Bank was established in Mauritius in 2002, as a wholly owned subsidiary of Standard Chartered Bank in UK. It is part of the Standard Chartered international banking group with an extensive network of over 1,700 branches and outlets in more than 70 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.
Standard Chartered PLC is a leading international bank, listed on the London, Hong Kong and Mumbai stock exchanges. It has operated for over 150 years in some of the world's most dynamic markets and earns more than 90 per cent of its income and profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank’s growth in recent years.

Standard Chartered offers exciting and challenging international career opportunities for around 85,000 staff. It is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity.

Standard Chartered provides corporate clients with a comprehensive range of capabilities and solutions, from facilitating clients' working capital needs to sophisticated capital raising solutions. With a proud history as a trade bank, Standard Chartered offers a full scope of innovative, customized solutions in cash management, trade finance and securities services. As one of the first to recognize the importance of integrating its cash and trade businesses, we focus on facilitating clients' working capital and supply chain financing needs for, in and out of Asia, Africa and the Middle East.
To meet clients' risk management, financing and investment needs, Standard Chartered provides innovative foreign exchange, risk management, capital raising and corporate finance solutions. And for corporate which are thinking of expansion, Standard Chartered provides innovative and pioneering solutions that can help accelerate that process. Capitalizing on the Bank's comprehensive on-the-ground knowledge and strong international perspective, the banks provide customized solutions, especially in cross-border trade and investment flows, including corporate advisory, project and export finance, structured trade finance, and structured finance.

Question (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, usually via dedicated bank advisers. It should not be confused with a private bank, which is simply a non-incorporated banking institution.
Euro money Private Banking Survey has ranked AfrAsia Bank as the Best Private Banking Services provider overall in Mauritius.

The fact a Mauritian headquartered bank such as AfrAsia has won it also reflects a global trend that clients want expertise and decision taking that is closer to them. Most importantly, this award reflects their unrivalled commitment to collaborative and privileged relationships that they build with their customers, providing them with sound financial advice, innovative banking products and carefully considered wealth management solutions for every stage of their wealth development.”

The annual Euro money Private Banking Survey provides a qualitative and quantitative review of the best services in private banking, by region and by areas of service. The Survey covers both global and regional categories and includes over 65 countries, as well as the vast array of services that wealth management provides. Factors such as assets under management, profitability, ratio of clients to relationship managers and services offered, among other things, are all considered when ranking the top private banks. The Private Banking Awards are the most prestigious in the growing area of wealth management. They are voted for by the people who know the industry best, the private bankers themselves.

Since its launch, AfrAsia Bank has been targeting the affluent side of the local and regional market whether entrepreneurs, executives or their families. Several private banking and private wealth management solutions have been devised in to serve a clientele with complex financing and investment needs. The Bank is also pursuing an ‘audacious’ strategy to tap into the growing trade, investment and capital flows between Africa and Asia that are now increasingly evident. The Bank was among the first to recognize the growth potential of the African Lions in marching the rise of the Asian Tiger economies and is has been setting up capital investment structures in South Africa, India, Singapore and Australia to facilitate money flows into Africa.

Private Banking with Standard Bank:
Standard Bank offers Private Banking services to address the financial and wealth planning needs of high net worth clients primarily in emerging markets. The Private Banking and Management solutions are designed around the client combining sophistication with simplicity and designed to blend unobtrusively with his lifestyles.


Mauritius has been designated by the Standard Bank Group as one of the hubs for Private Banking services in the African region because of its well developed banking sector, its competitive banking fees, its sophisticated multi-currency platforms as well as its proximity to the African continent.

As well as the financial products that a people can get from the normal bank, private banking can offer expert advice on investments and financial products. They can also help to set up offshore accounts or easily transfer money internationally. The benefits of private banking are that a client usually has a bank manager assigned to him that he 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.

In contrast to making independent investments on the securities market, asset management provides the clients with the following advantages:
1.Frees the 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;
2. Guarantees professional oversight over the risk and protection of investments;
3. Ensures quick, real-time reaction to market fluctuations thanks to continuous market monitoring by the personal manager;
4. Allows earning money even when the market falls;
5. 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;
6. Offers a broad spectrum of investment strategies, optimally taking into account the client's investment goals and the client's risk attitude;
7. 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;
8. 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:
1. 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.
2. 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.
3. 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.
4. Jobs for relatives: The management of privatized banks may provide jobs to their friends and relatives. The deserving persons are ignored.
5. Loans for few persons: The management of privatized bank can extend loans of their favored persons. In this way only few persons are benefited.
6. 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,
Vanita Bahadoor

Admin
Admin

Posts : 76
Join date : 2012-02-19
Age : 26

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

Back to top Go down

Re: International Banking

Post  Admin on Sat 17 Mar 2012 - 21:57

1/. (I) visit the website of prominent banks in Mauritius. See what international banking services they provide briefly reflect on your understanding of each of them.
International banks such as HSBC, Barclays Bank, Bank of America and many other big financial institutions offer service to clients across the globe. Offshore banking is also part of international banking services in which clients assets are discreetly managed without outside scrutiny.
Types of services
International financial services enable the smooth operations of companies in the global arena. International trade is made possible through such services by international wire transfer and foreign currency exchange. Other services include asset management, project financing, insurance, private banking and equity market assessments and management. Banks also advise clients on cross border risks.
Barclays bank plc
Barclays was the first bank in Mauritius to obtain an offshore banking license and engages in banking activities in all foreign currencies. The international banking divisions offer traditional banking services with client based primarily non residents. Its customer’s base consists of 500 customers which are mainly large international companies and multinationals.
The 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 cooperate customers
The Mauritius commercial bank ltd
The Mauritius commercial bank 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.
Some of the international services provided by the MCB:
1/.Bank transfer
It ensures a direct transfer between you and the person of your choice in a matter of hours.
(i) Swift transfer
Swift transfer is also available through MCB internet banking which makes it even easier to transfer money by yourself wherever you are and whenever you want.
(ii). Bank draft
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/. Moneygram
An international Money Gram is a method of sending money from one person to someone in a different country for a fee charged to the sender. A money order MoneyGram is issued like a check. The recipient must cash the money order at a bank or check-cashing location. A money transfer MoneyGram is issued in cash, directly to the receiver
State bank of Mauritius
The state bank of Mauritius is currently an integrated banking group offering a wide range of financial services including retail and cooperate banking, currency and securities, trading, leasing, security broking, fiduciary services and asset management.
Fiduciary services
In its simplest form, a fiduciary bank account is a deposit account in which the funds are owned by one individual or groups of individuals and managed by another individual or group of individuals. The most common forms of these types of accounts are trusts and certain escrow accounts.
Asset management
Asset management is defined as the systematic process of long term maintenance of assets, with the objectives of bringing out the best from the assets.
Asset management is an important part of the financial sector throughout the world. It manages huge amounts of investments and help clients reach a financial goal within a specific period of time. Asset management offer a wide range of investment options.
(ii). what is private banking?
Private banking is a specialized banking service that caters to wealthy individuals and families. Private bankers help clients manage their wealth by providing advice and services that are customized to their investment profiles and financial objective.
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 a mass –market retail banking , usually via dedicated bank advisor .
Historically private banking has been viewed as very exclusive, only catering for high net worth individual with liquidity over $1 million, although it is now possible to open some private bank account with as little $50000. An institution’s private banking division will provide various services such as wealth 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.
Benefits of private banking:-
1. Today banks are providing Tax advice and legal solutions to their client as if any client wants exemption from a major amount of the tax burden.
2. Banks are also giving guidance to their client about investments and insurance policies that would be beneficial for then in terms of saving money and tax.
3. Banks are offering loans on lower interest rates if you wish to buy a real estate.
4. Due to privatization of banks client did not require to visit bank while placing transactions as today banks are providing a new kind of facilities to its client such as mobile and net banking with the help of these facilities you can transact any type of transaction from any corner of the world with the use of internet.
5. The biggest facility offered by private banks to its client is wealth management.
6. The clause private means highest level of secrecy, which is used for hiding their clients’ assets from tax authorities and for careful planning to minimize the tax burden.
However, when it comes to taxes, does private banking give its customers any advantage?
The Certainty of Taxes
Benjamin Franklin said once, “In this world nothing can be said to be certain, except death and taxes.”This is true, as no one can lawfully avoid paying taxes, no matter if they are exorbitantly wealthy or very poor. Therefore, private banking cannot eliminate the need for the super rich to pay taxes any more than it can guarantee that an aging millionaire will never die! However, private banking can offer some advantages that will make taxes less of a burden on the customer.
So, in conclusion, while there is no way to avoid the inevitable taxes, private bankers are experienced and knowledgeable in wealth management and will be able to recommend savings plans, investments, and other solutions that will help their clients make the most of their money and reduce their taxes as much as possible.
Chummun khusboo (111415)

Admin
Admin

Posts : 76
Join date : 2012-02-19
Age : 26

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

Back to top Go down

Re: International Banking

Post  Admin on Sat 17 Mar 2012 - 22:07

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
Mauritius Commercial Bank (MCB)
The MCB is one of the largest and most profitable bank of Mauritius. In almost all of the areas in the island and across Indian Ocean, MCB has its branches. It provides its customer with lots of services including domestic and international. Domestic services include motor finance, educational loan, housing loan, educational loan and so on. International services include Bank transfers and Money Gram.

1. Bank transfers
Bank transfers help any 2 people make a direct transfer in a very limited time period anywhere abroad. It consists of swift transfer and bank drafts.

2. Money Gram
Money gram is the fastest way to send or receive money in less time period that is less than 10 minutes. This is whether transferring money to dear ones or transfer of huge sum of money for business purposes. It also implies import and export service.


Barclays
Barclays is an international bank which has its branches in almost all countries of the world. Its main office is found in England. Its branches is in Botswana, Egypt, Ghana, south Africa, Pakistan, Seychelles, Mauritius and many others. Barclays have been designated “bank of the year 2011” in Mauritius by the prestigious magazine “The Banker”. 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.

1. Barclaycard
Convenient. flexible and helps budgeting

You are travelling abroad, no need to carry a lot of cash with you when you own a Barclaycard. You can use your Barclaycard anytime, anywhere in the world and as often as you like, as long as you stay within your credit limit.

With Barclaycard you can buy now and pay later. It gives you up to 52 days of interest free credit if you pay your statement balance in full (not applicable for Cash Advances). You also have the option to repay a percentage of your outstanding balance, minimum 5%, in which case interest will apply.

With Barclaycard it is also easy to keep track of your expenses. You will receive an itemized monthly statement with a detailed record of all your transactions and charges.
Accepted internationally and easy access to foreign currency

Barclaycard is accepted internationally, wherever you see the Visa sign. All purchases made in foreign currency will be converted back into Mauritian Rupees making it easier to manage your money.

Your Barclaycard can also be used to withdraw cash from cash machines. When travelling abroad you can access foreign currency via any local cash machine that bears the Visa sign.
2. Barclays foreign currency account
Easy access

Access to your money is made easy through our extensive branch network. If you need to move money rapidly, we offer a range of international payments to send your money quickly and safely to its destination.
Choice and flexibility

The account is available in all major international currencies which offer security and stability. Currency overdrafts are available on request and are granted at the Bank's discretion. Term deposits are also available, to help you make the most of surplus cash.
Reduced foreign exchange risk

Exchange risk can be reduced by using this account to match incoming and outgoing currency funds. You won't need to convert your foreign currency income into another currency, or buy the currency required when purchasing goods or services from overseas.
Comprehensive statements

To help you keep track of all your transactions, regular detailed statements are supplied and can be made available on request.

Take advantage of the benefits a Barclays Bank PLC – Mauritius Foreign Currency Account can offer you. Talk to us today about opening an account.

The Hongkong and Shanghai Banking Corporation Limited
the Hongkong and Shanghai Banking Corporation Limited is the founding and a principal member of the HSBC Group which, with around 7,500 offices in over 80 countries and territories and assets of US$2,691 billion at 30 June 2011, is one of the world's largest banking and financial services organisations.

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.
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
• Portfolio reporting
• Proxy service.


(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, usually via dedicated bank advisers. It should not be confused with a private bank, which is simply a non-incorporated banking institution.
Personalized financial and banking services that are traditionally offered to a bank's rich, high net worth individuals (HNWIs). For wealth management purposes, HNWIs have accrued far more wealth than the average person, and therefore have the means to access a larger variety of conventional and alternative investments. Private Banks aim to match such individuals with the most appropriate options.

HSBC has one of the world's top private banking businesses, providing financial services to high net worth individuals and their families in 96 locations. Pre-tax profits increased by 5%, to US$822 million, primarily due to strong performances in Switzerland and Monaco. In difficult times, total client assets rose by 1% to US$499 billion. Private Banking generated 59% of its business from clients in emerging markets. Three new offices opened in China in early 2008.

Shah-E-Alam Noormamode (111426)

Admin
Admin

Posts : 76
Join date : 2012-02-19
Age : 26

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

Back to top Go down

Re: International Banking

Post  Admin on Mon 19 Mar 2012 - 1:20

1. International banking services bank in Mauritius provide.

A group of traders, lead by James Blyth, see the need for a second bank in Mauritius. They establish 'La Banque Commerciale de Maurice' which starts business on 1st September 1838. The bank has always been dedicated to helping people with ideas become entrepreneurs and businesses grow. The MCB has been the lynchpin of the country's economic development. Drawing on its intimate local knowledge and business relations, the Bank has supported agriculture, trade and industry. Since the country's independence in 1968, however, the Bank has amplified its response to the more varied and diverse needs of the country. The MCB has thus been crucial in ensuring the take-off of a number of sectors which were, at inception, considered either unfashionable or risky. From tourism to textiles, local manufacturing to Freeport activities, from information & communication technology (ICT) to seafood, the MCB has always been present to support bright ideas and turn fledgling segments into pillars of the economy.

The MCB has achieved several market firsts throughout its history: ATMs, mobile points of sale, junior savings accounts, SWIFT, TCR machines, phone, Internet Banking and mobile Internet Banking among others.

The MCB also provide international services;
1. Bank Transfer
2. Moneygram services
Bank Transfer:
It is a direct transfer of money between the customer of the bank to any person of his choice in a small lap of time. The customer can send or receive money from around the wrold. The customer can either do it by himself via Internet Banking or at any MCB branch.
Bank Transfer also includes;

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.
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

Secondly the MCB provides Moneygram services, that is International transfer of money.
MoneyGram is the perfect solution when you need to send or receive money rapidly and with complete peace of mind.

(2) What is private banking.

Private Banking is banking investment and other financial services provided by banks to private individuals investing big assets. The term private refers to the customer service being offered on amore perosnal basis than in mass market retail marketing, usually via a very dedicated bank advisers.
Private banking is simply a non incorporated bank institution, it has been viewed as very exclusive, only catering for very rich individuals with liduidity over $2 millions. But it is now possible to open some private banking accounts with as little as $250,000 for private investors. The services offered by private banking are;
-Wealth managemnt
-Savings
-Inheritance
-Tax planning

Advantages of Private Banking;
-Personal team; only well trained professionals
-Facilities like telephone banking; you can contact the team or adviser that is serving you
-A personal financial strategy will be prepared for you every year.
-You are served in complete privacy

Disadvantages of private banking;
-No branches in rural areas
-Loan for few persons.
-Owners association, the aim of private banks is to only earn profit.
-Jobs to relatives, the management may provide jobs to their friends and relatives
-unbalanced growth, the management provide credit in specific areas and to specific customers


Kind regards,
Kainat Mohit
Index; 111423

Admin
Admin

Posts : 76
Join date : 2012-02-19
Age : 26

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

Back to top Go down

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!!)

Post  Admin on Mon 19 Mar 2012 - 2:13

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.
Mauritius Commercial Bank (MCB), founded in 1838, is the oldest and largest banking institution of Mauritius. MCB adapts to changes and new technologies to meet the needs of its customers. It is a dedicated team for servicing business activity outside Mauritius as well as Non resident individuals. It also holds an investment license delivered by the Financial Services Commission. MCB has a local network of 40 modern branches. MCB provides international banking like
1. Bank Transfers
Bank transfers ensure a direct transfer between an individual and the person of his choice in a matter of hours. It can either be done via MCB Internet Banking or visit any MCB Branch.
2. Swift transfer(Online 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.
3. 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 because it is time consuming.
4. MoneyGram
MoneyGram is the perfect solution when you need to send or receive money rapidly and with complete peace of mind.
This service is available from our branches in Mauritius and Rodrigues:

• Your money is available in only 10 minutes
• You have access to a network of 180,000 offices in 190 countries
• You don't need a bank account or a credit card

(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.

Mauritius Commercial Bank offer first class banking services.

1. A closer relationship
Working closely to understand the needs and aspirations of customers and to create an extensive range of bespoke solutions is crucial to MCB.
‘We accompany you in identifying your financial objectives before developing strategies to achieve them; and we always remain alert to changing situations in the world to assist you in sustaining and building your wealth. Our core guiding principles in doing so are excellence and integrity. With more than 170 years of skill behind us and best-in-class expertise we hold the key to both establishing long-lasting relationships and perfecting innovative solutions.’
2. Meet your Private Banker

Exclusive, tailored, discreet and highly effective: this is what private banking has been designed to be at the MCB. A Private Banker is there to make sure you are offered the service one expects as a distinguished member. As your privileged point of contact at the MCB, your Private Banker is committed to making your life even easier by delivering solutions that match your requirements and your lifestyle.
3. A team of specialists
Since private banking aims at delivering all the services you may need, from classic everyday banking to more complex wealth management, a team of professionals focuses on your requirements to provide first-class advice and tailor the finest total solution for you. Having your best interest at heart, the experienced and highly talented team of specialists behind each Private Banker guarantees you have full control of your solution at all times.
4. A dedicated desk for international clients
MCB International Desk takes care of all the requirements of their international clients. The services of this fully dedicated section include hands-on assistance for a variety of needs; from purchasing a luxury villa in Mauritius and the region to relocation facilities should you wish to make Mauritius one of your homes.
5. Your guide to luxury villas
At MCB Private Banking, we have the perfect team to guide you in the purchase of high-end villas in Mauritius. Being a privileged partner of top property developers, we are in a position to provide you with exclusive access to the country's most beautiful properties in strikingly pristine locations. And as the country's leading bank, we have exceptional financing options to offer while being a gateway to all the specialists that you require to ensure your purchase is as smooth and pleasant as you wish.
All over the world, entrepreneurs, families, professionals, executives, and private investors enjoy the first-class service, guidance, and advice provided by MCB Private Banking.




Regards
Boodhoo Kheerishma

Admin
Admin

Posts : 76
Join date : 2012-02-19
Age : 26

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

Back to top Go down

Re: International Banking

Post  Admin on Mon 19 Mar 2012 - 2:47

Question i)
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 subsidaries and associated companies and regional expansion through its foreign subsidaries.

The international services provides by the MCB are as follows:
• Swift transfer
Swift transfer 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 officer cheque. It is the cheapest way to send money abroad and is perfect if you are not in a hurry.

• Money Gram
Money Gram is the perfect solution when you need to send or receive money rapidly and with complete peace of mind. The money is available in only ten minutes.

The MCB also provides different types of documentary credit for International Transactions for trade finance these documentary credit are listed below:

• Commercial documentary credit
• Revolving documentary credit
• Red Clause documentary credit
• Transferable documentary credit
• Back-to-back documentary credit
• Standby credit
• Export documentary credit
• Export documentary collection
• Export financing
• Credit protection


For Barclays bank, International Banking Division is divided into different sub-departments:
• Global Business
Barclays delivers a relationship proposition that adds value at all levels of contact and acts as a single gateway team into its bank and tha wider group.

• Corporate Clients
Barclays serve corporate clients operating globally and offers a wide range of services such as credit facilities, structured financing, foreign exchange and derivative, international trade instruments and so on.

• Securuties Services
Barclays has established itself as the leading provider of tailored custody and securities administration services to both local and international institutional investors in Africa. The services offered are: settlement of securities trades, safekeeping and registration of securities, nominee facility and so on.

• Account Opening Team & Transaction service unit



Question 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 families manage their wealth for future generations.

Private Banks have been around for a very long time- since the 19th century in several nations in Western Europe. Private Banks have ‘catered only to high-net-worth individuals with liquidity over $2 million, although it is now possible to open private banking accounts with as little as $250,000 for private investors.’
From international tax and investment services to specialist advice for family offices, a private bank offers a comprehensive menu of sophisticated products and services that cater for the particular financial needs of a wealthy client.

For example at HSBC private bank, their approach is to take a complete view of our wealth. The relationship manager at HSBC will help us to identify our wealth goals and develop personalised strategies to help us to achieve them. HSBC can help us as follows:
Manage our wealth: private banking is about building relationships. HSBC believe in providing a service that is personal and personalised. They begin by understanding our individual financial needs and endeavour to find the best solutions to fit our inevitably unique situations.

Develop and protect or wealth for the future: It is as important to manage our wealth today as it is to plan for tomorrow, and for the generations that follow. With one of the largest trust business and a global network of investment services spanning six continents and all major markets. HSBC Private Bank strongly believes in securing the financial future of us and our family and finding new sources of wealth most appropriate to our needs and interests.

Manage the impacts of wealth: Wealth can present unique lifestyles situations. Whether we are buying new homes, investing in art or even relocating overseas, a relationship with HSBC Private Bank opens up a range of specialist services to us and our family. HSBC teams of specialists offer expertise in areas including philanthropy, property investment, tax advisory and media.

Regards,
DARLENE THEODORE (111443)


Admin
Admin

Posts : 76
Join date : 2012-02-19
Age : 26

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

Back to top Go down

Re: International Banking

Post  Admin on Mon 19 Mar 2012 - 2:47

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!!)

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.

It provides all services of a universal bank within a diversified business model. The lines of business include:

1. Retail Banking, Small and Medium Enterprises

Besides a broad range of savings, investment and financing products, in both local and foreign currency, SBM offers a large portfolio of cards, designed to suit needs of specific customer segments. Innovation and market insights continue to drive product development. In line with the Group’s diversification strategy and in view of market trends, the Group is now looking to further develop its Small and Medium Enterprise business as well as Wealth Management & Private Banking services.

2. Wealth Management & Private Banking

SBM’s Wealth Management and Private Banking is specialised in providing tailor-made financial planning solutions, investment advice and services to corporates, high net worth individuals and families, both locally and abroad. The unit offers increased 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, advice in all areas of financial planning and wealth structuring and offers a large range of products and services related to wealth management.

3. Corporate Banking and International Banking & Global Business

The Corporate Banking and International Banking & Global Business Divisions of the Group, through their growing team of professionals, provide comprehensive financial solutions to their business customers across geographical borders and industrial portfolios. These include traditional banking products, transactional banking services, asset finance, commercial loan and working capital finance, structured finance, structured trade finance and project finance, in both local and foreign currencies. We also provide banking services to Global Business Customers and are involved in cross-border transactions.

4. Treasury services

Treasury activities at SBM encompass different financial products including foreign exchange, money market, fixed income and commodities trading. The Group’s professional and dynamic treasury team offers an array of services to customers, from up-to-date market information and advice to timely execution of deals.

5. eBusiness

In line with its spirit of innovation, the Group has invested in state-of-the-art technology to place multiple, reliable and sophisticated electronic delivery channels at the service of its customers for convenient banking from anywhere on a 24/7 basis. These channels include an eCommerce platform, internet and mobile phone banking services as well as an extensive network of Point of Sales and Automated Teller Machines. Capitalising on superior technology, SBM has introduced a number of innovative products in the eBusiness segment. SBM has also invested considerably in risk management infrastructure to provide a safe and secure platform for its customers.


(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.
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 is often referred to as wealth management.



Regards
SOODEELAH Kaleendee

Admin
Admin

Posts : 76
Join date : 2012-02-19
Age : 26

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

Back to top Go down

International banking

Post  Admin on Thu 22 Mar 2012 - 23:16

Question 1).Analyse the various risks in banking

The business of banking entails risk taking to achieve return on investment since profits are considered to be the reward for taking such risks. Hence these major risks are categorised as follows:
-Financial Risks which include
i)Credit risk: is the most salient risk to be taken into account.In fact, this arise when loans turn into bad debts, that is, when debtors fail to repay their debts to the banks.

ii)Market risk: can be in the form of -Liquidity risk which occurs when banks face funding problems and -Interest Rate risk arises when there is fluctuation in interest rate and could have an impact on the profitability of the bank.

iii)Solvency risk: is the risk of being unable to absorb losses,generated by all types of risks, with the available capital.
Reference- Basel Capital Accord 1988 basel 1
- Basel Capital Accord 2

iv)Foriegn Exchange Risk: is directly related to the international finance. This type of risk may cause losses due to changes in exchange rates of all countries.

-Non-Financial Risks may include
i)Operational risk: occur as a result of fraud on a massive scale, incompetencies, errors etc...In the past in Mauritius, Barclays and Brammer banks faced such drawbacks.

ii)Technological Risk:occurs when the technology become outdated and inefficient. Progress is made very slow.
Recently in Mauritius, Mauritius Commercial banks faced the problem of Internet Banking where people had been found hacked- which create a huge costs to the bank itself.

iii) Staff Risk: arise when employees dont feel motivated to work and do a lot of mistakes which in the long run create high labour turnover. In this respect, this affect the continuity of the banks as without good workers, banks will not perform well.

Regards
Mary Joanna Cherly Gabriella Trime

Admin
Admin

Posts : 76
Join date : 2012-02-19
Age : 26

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

Back to top Go down

Re: International Banking

Post  Admin on Fri 23 Mar 2012 - 2:24

There are several banks in Mauritius, they are as follows;
 Mauritius Commercial Bank
 State Bank of Mauritius
 Barclays Bank
 Indian Ocean International Bank
 Bank of Baroda
 Bramer Banking Corporation
 Habib Bank
 Bank One Mauritius
 Mauritius Post & Cooperative Bank
 Banque des Mascareignes
 Investec Bank
 SBI International Mauritius
 Standard Bank
 Standard Chartered Bank
 Deutsche Bank
 HSBC Bank
 PT Bank International
 AfrAsia Bank
Mauritius Commercial Bank (MCB), founded in 1838, is the oldest and largest banking institution of Mauritius. The Mauritius Commercial Bank gives the following international banking sevices to his client.
Bank Transfers
Ensure a direct transfer between you and the person of your choice in a matter of hours.
SWIFT TRANSFER
Swift transfer also means 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.
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. The money is avaliable in only 10 minutes. The services offer access to a network of work of 180000 offices in 190 countries. For moneygram it does not need an account or a credit card and it can aslo include a 10 word message if you wish.
Custody Services
MBC Custody is the perfect bridge to Mauritius, The Indian Ocean and Africa. It offers unmatched local knowledge and global quality standards and exceptional quality of service from a dedicated team.
Trade Finance
Import services, it focus on the import business while mcb take care of the rest. It also provides fifferent types of settlement to make the trading needs easier.
(II) What is Private Banking?
Banking services, including lending and investment management, for wealthy individuals. Private banking primarily is a credit service, and is less dependent on accepting deposits than retail banking.

Advantages of Private Banking:
• Personal team – a team consisting of professionals is always there to help.
• A Private Banking client contract enables to carry out everyday banking over the phone, simply by contacting the team that is serving.
• A personal financial strategy will be prepared at least once a year.
• It offers investment management services with a full or consultation mandate.
• It can also meet with the Private Banking Strategist.
• It is served in privacy: meetings are held in the cosy rooms of SEB Private Banking on the 15th floor of the SEB headquarters.
• It will also be invited to regular client seminars and other events.


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.
• 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.

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.
regards: NEVIN PUTTOO 111429

Admin
Admin

Posts : 76
Join date : 2012-02-19
Age : 26

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

Back to top Go down

Re: International Banking

Post  Admin on Fri 23 Mar 2012 - 4:44

i)Mauritius has a long tradition of commercial banking dating back to 1812 and has historically adopted a cautious attitude to banking development. Until 2004, banking was split into two separate banking regimes – offshore and onshore.

One of the most prominent banks in Mauritius is The Hongkong and Shanghai Banking Corporation Limited (HSBC). In Mauritius, the HSBC Group offers an extensive range of financial services through a network of 11 branches and offices. Their offshore unit (HBMU – HSBC Bank Mauritius Limited) has, for many years played a leading role in facilitating cross-border investment activity.

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. HSBC offers 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.
Accounts & Deposits – The full spectrum of deposits products from current and call deposit accounts as well as high yielding fixed term deposit accounts in all major convertible currencies
Foreign Exchange & Treasury – This service includes a full range of foreign exchange and treasury services that are available for personal and corporate account holders, institutional clients and investment funds in the most traded currencies on a spot and forward exchange basis.
Custody Services – In Mauritius HSBC can provide Cash Custodian services. They are the leading Cash Custodian for offshore funds that are registered in Mauritius. It refers to the safekeeping of asset in form of cash.
E-banking – HSBCnet, our global e-banking system, enables on-line access to bank accounts maintained in Mauritius and at offices throughout the world. These allow inward and outward international money transmission services and, remote and secure access to bank accounts.
Islamic Banking – With the launch of Islamic Banking services under the HSBC Amanah umbrella. Therefore, this means that, Mauritius has a great opportunity to diversify its financial sector and provide new services in the fields of banking, wealth management and investment based on Shari’ah Compliance.
Financing – Multi-currency corporate lending facilities that include bills discounting, short to medium term financing, syndicated and cross-border loans, project and capital finance.

Global Trade and Receivables Finances – Comprehensive range of trade services, finance and facilities, catering particularly to the needs of freeport and offshore trading companies operating from Mauritius. This service refers to trade finance products including the provision of Letters of credit facilities (L/Cs), back to back and transferable L/Cs, import loans and the full range of bank guarantees required to support businesses.
Remittances & Telegraphic Transfers – The HSBC ensure fast and efficient money transmission services worldwide, particularly well suited to meet the needs of institutional funds and Global Business Companies.

ii)
Private banking traditionally consisted of banking services (deposit taking and payments), flexible asset management(wealth management), brokerage, limited tax advisory services and some basic concierge-type services (custody services), and so on. These banking services are given to high net worth people or families. It is differentiated from retail, investment and corporate banking.

A few characteristic of private banking are:
-The client is an individual or a family
-He knows his banker and has a close relationship with him, based on trust
-The banker provides services and “tailor made” investment solutions, answering the specific needs of the client
-Today, private banking has to combine the one on one features of a traditional approach with on-line access to information on a “24/7” basis

The HSBC private banking services include:
-Bank Accounts (Accounts that serve your financial needs. Savings Account, Current Account and ATM Cards),
-Loans,
-Credit Cards (International acceptance, worldwide offers and get rewarded the more you use it),
-Insurance (Life Assurance, Personal Pensions Plans and Other Insurance),
-Investments (Capital Secured Funds and Open Ended Freedom),
-Deposits (Fixed Deposits and Foreign Currency Deposits),
-AssetVantage (Explore the world of priviledges),
-Internet Banking Services (Remote and secure access to bank accounts, inward/outward international money transmission service..)

Comment: I'd like to emphasize on the part private banking of my friend kaveer, that private are for high net worth clients and for purpose of wealth management and protection. Also there is no mention of the services offered to these clients by banks.

Name: Mandakini Bhurtun Id: 111411

Admin
Admin

Posts : 76
Join date : 2012-02-19
Age : 26

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

Back to top Go down

Re: International Banking

Post  Sponsored content


Sponsored content


Back to top Go down

Page 2 of 2 Previous  1, 2

View previous topic View next topic Back to top

- Similar topics

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