Define Micro Credit

Credit is one of the ancient thinking of human civilization. It has attained place in the centre of poverty and Bangladesh has become the motherland of micro credit program for the poor. About its suitable and fitting definition, it is generally said “Micro credit is a tiny collateral free loans aimed at the poorest of the poor to help them start or expand their self-employment pursuits.[1] For further clarification, Dr. Yunus Says, “Micro-credit is a well tried and well founded method that can bring financial services to the poorest of the poor. Micro credit promotes entrepreneurship, and pits each individual poor person, especially women, in the driving- seat in their own lives. Micro-credit is more about people than about money. It is a question of trusting people. Credit means to trust, to give someone credit.[2]

Definition of Mutual fund

A mutual fund is a company that pools money from many investors and invests the money in stocks, bonds, short-term money market instruments, other securities and assets, or some combination of these investments. The combined holdings the mutual fund owns are known as its portfolio. Each share represents an investor’s proportionate ownership of the fund’s holdings and the income, those holdings generate. It is a common mode of community investment mobilization. It earns income by interest or dividend or both from the securities it holds.

Definition of Offshore banking

It refers to the banking system which is set up in specially demarcated zones which are separate from the domestic banking system and which raised funds for its operation from offshore or non-resident sources for investment in domestic and or third country projects.

It also refers to the banking operations that cover only non-residents and do not mix with the domestic banking. An off shore banking centre is a place where deliberate attempt is made to attract international banking by offering many concessions in the form of taxes and levies being imposed at lower rates or not being charged.

Definition of Merchant banking

A merchant bank may be considered as an institution which centers its operation on all or mostly in management of issue of various securities traded in stock exchange, underwriting, project counseling, corporate counseling in areas of capital restructuring or effective management of finance, amalgamations, mergers, takeovers, technical consultancy services, portfolio management, investment management, equipment leasing and providing venture capital etc.

Definition of Mixed banking

Commercial banking and investment banking combined together is referred to as mixed banking. These two types of banking are completely different from each other. Commercial banks are engaged in short-term financing while investment banks are engaged in log-term financing. Commercial banks’ deposits are of short duration and payable on demand or short notice.

Definition of Investment banking

Investment banks are institutions which assist commercial organizations in raising long-term capital through the sale of shares, stocks, debentures and bond. It is a system where banks arrange long-term funds for business and industry. They work both as financiers as well as underwriters. As financiers they themselves provide long-term funds to business and industry.

Define Group banking

It is a system where two or more banks are controlled by a holding company. Thus, group banking is similar to chain banking except with the difference that instead of an individual or group of individuals or members of a family, an incorporated company having a separate legal entity holds majority of the voting power in the companies of the group. Such holding company may or may not be engaged in the banking business.

Define Terrorism and War on Terror

The War on Terror (also known as the Global War on Terror or the War on Terrorism) is a term commonly applied to an international military campaign led by the United States and the United Kingdom with the support of other NATO as well as non-NATO countries. Originally, the campaign was waged against al-Qaeda and other militant organizations with the purpose of eliminating them.The phrase 'War on Terror' was first used by US President George W. Bush and other high-ranking US officials to denote a global military, political, legal and ideological struggle against organizations designated as terrorist and regimes that were accused of having a connection to them or providing them with support or were perceived, or presented as posing a threat to the US and its allies in general.