Applying Problem Solving Essay Example for Free

Applying Problem Solving Essay There are so many problems in the world today, personal as much as in society as a whole. The question is, how can we solve them? The answer is, soft skills such as critical thinking and problem solving. These are arguably the most effective weapons we have against combatting these problems. Let’s explore two examples of real-world scenarios: Genetically Modified Organisms (GMOs) and Gun Violence. A recent study confirmed a direct link between tumors and Genetically Modified Organisms (Food Chem Toxicol, 2012). The scientific method was used to observe, hypothesize, experiment, and verify this conclusion, via a controlled experiment with rats over the course of two years. That’s not to say that all tumors are caused solely by GMOs, but rather that at least one of the causes for tumors have been identified. As a result of this study, many countries have banned the importing, development, and sales of GMOs, including (but not limited to) Italy, Switzerland, and New Zealand (for confirmation, search â€Å"GMO Ban† from the University of Phoenix Library). The scientific method has also been used to study the toxicity of chem trails in the air, fluoride in the water, and preservatives in food products. So why has President Obama signed into law the Monsanto Protection Act, which protects Monsanto (a large American GMO company) from federal courts? With so much evidence, one must wonder why the government is turning a blind eye (or even worse, â€Å"protecting†) these companies, at the expense of our health. Many speculate that the motive for this corruption is money, such as corporate bribery (otherwise known as â€Å"lobbying†) from big Food and Medical industries. Consider how all three organizations benefit: Food companies from the sale of their poisonous products, Medical companies from the sale of treating the poisonous effects of the food, and Government from both the corporate â€Å"lobbying† and taxation. The love of money is indeed the â€Å"root of all evil†. But knowledge is power. The scientific method can be used to further expose this corruption, and as citizens demand that our Representative take action to remediate these problems. Another current and  very controversial issue is gun control. There are many strong and valid arguments from both sides of this debate. Gun owners would argue that more â€Å"good† people should be armed to outnumber the â€Å"bad† people, and that it is our constitutional right to bare arms. However, opposing viewpoints advocate that guns are too easily obtainable, and that certain precautionary measures should be taken to avoid the issuance of a gun to anyone not qualified, such as due to mental illness or history of violent behavior. Persuasive thinking is at play during these debates. The gun owner may portray a story where gun ownership was beneficial, saving an entire family from an armed robber. Opposing viewpoints may portray a story where a tragic massacre could have been prevented had gun control laws been in place. Notice how these arguments tug at the strings of our heart, playing into people’s emotions. In my opinion, both of these problems are not a matter of insufficient laws, but rather spiritual matters of the heart. In the early years of this nation, companies were never ordered by law to give back to their communities. Instead, company owners gave back to their communities out of the generosity of their hearts, good morals, and gratitude towards the capitalism system which has benefitted them so much. The Middle Class concept can also be attributed to company owners of good morals. This concept was not originally formulated by government, but rather by Henry Ford, founder of Ford Motor Company, who wished to pay his employees not only for manufacturing his vehicles, but also for purchasing one of their very own. Sadly, greed and competition has poisoned the hearts of many present-day company owners to such a degree that they’re willing to do anything (including jeopardizing people’s health and cheating people out of their life savings and pensions) just to obtain a greater profit. The same concept applies to gun violence. In the founding years of this nation, life preservation and â€Å"loving thy neighbor† was held in highest esteem. But over time, the â€Å"fun† of violent video games, movies and TV Shows, as well as the â€Å"glory† of war has slowly eroded and desensitized the moral fabric of society. Good news can still emerge from the midst of these situations. As long as mankind continues to learn (about each other, as well as critical thinking and problem solving skills), love, compromise, and unite as one, there is no problem too big that cannot be solved! Major and minor problems arise in life, which called to be solved by using different methods. It is important that we able to utilize these methods, such as persuasive thinking and scientific thinking, in order to eliminate certain problems that may hinder us from achieving our personal goals. In the past, I have used both of these methods to solve problems that have been as simple as deciding which lotion was the healthiest choice for me and reminding my mother that I was an adult that wanted to travel. Using scientific thinking, I was able to eradicate a problem that involved using a certain type of body lotion. I went to a beauty store to purchase a new body lotion as my old body lotion was finished, and I wanted a change. I tested the scents of many lotions on the shelves and found a particular lotion that was in my budget and had a pleasant scent. The first day I used the lotion, I noticed that my skin was irritated and a few tiny bumps appeared on my arms and legs. Over the next few days, I still used the lotion, and the irritation grew worse; there were more bumps, and they were beginning to itch. The irritation never occurred when I used my old lotion, so I began to believe that was the problem. Kirby and Goodpaster (2007) state that the basic steps to solving a problem using the scientific method are observation, hypothesis formulation, experimentation, and verification (p. 221). I observed my skin breaking out after I bought the new lotion; I did not break out before I purchased the lotion, nor did I break out with my old lotion. I formed my hypothesis after that: â€Å"If I use this new lotion, then I will break out,† or â€Å"My new lotion is causing me to break out†. Next, I conducted a small experiment. I stopped using the lotion for a week, and I noticed that my skin began to clear up, and it felt less irritated with each day that passed. I concluded that my hypothesis was correct shortly thereafter, but to verify that conclusion, I bought an unscented, medicated lotion, (similar to my old lotion) and began using that. With this medicated lotion, I noticed that there were no negative changes with my skin. One part of the verification process was unintentional, though. One day, my arms were a bit dry after swimming with friends, and the only lotion I had in my purse was the scented lotion that I once hypothesized was causing my skin irritation. I did not believe I would break out again, but shortly after, my skin was irritated, red, and there were bumps on my arms. To this day, I stay away from lotion that is scented because my skin is very sensitive. This problem was much easier to solve than my problem that needed to be solved with persuasion. Persuasion is not one of my strengths, but I needed to use it in order to solve a problem I was facing. Ever since I received my first computer at the age of 10, I have spent a lot of time on the internet, chatting with peers and making new friends. I am an introvert, which is defined as â€Å"a person characterized by concern primarily with his or her own thoughts and feelings,† (Dictionary.com, 2012). I do not like being big crowds, and I feel more comfortable talking online with friends, than I do with talking to peopl e in public. In 2009, I met someone from Tennessee, and for three years I have chatted with her via instant messenger, spoken to her family, video chatted via video messenger, spoken on the phone, etc. We became very good friends, and I brought it to my mother’s attention that I wanted to travel to Tennessee to visit my friend. My mother’s immediate response was to deny me. Her argument was understandable, but I quickly realized that I had to do attempt to persuade her. As most children, my first reaction was to declare that she was being unreasonable, whine, and grovel. Of course, that did not work, so I decided to go another route. The first step that I took was asking my mother exactly why she did not want me to travel to see my friend. As she began to list the reasons, I made sure I listened. Next I made to make sure that my mother knew I saw her side of things. I understood why she was so adamant about not letting me go. I had spoken to my friend for years, and I felt as though I gotten to know her very well, but meeting someone in person will always be different- despite how well you know them online. There was also a chance that my friend and I would not get along in person, and I would be stuck in a state for a period of time where I did not know anyone else. After explaining many of the negatives, I began to give her positives. I wanted to let her know that I had a plan. I had my own money saved to travel. I told her that she could speak with my friend’s mother so the two could get to know each other a little better. I researched the town in Tennessee, so that my mother could  see that my friend lived in a quiet neighborhood where there was little crime. I had to also remind my mother that, despite her being my parent and wanting what was best for me, I was a 21-year-old young woman. When it was all over, I asked for my mother’s response. She said that I could travel to Tennessee, but there was a stipulation: my mother wanted to accompany me on the trip. I ended up compromising, so that my mother’s mind would be at ease and I could still go to see my friend. With my first problem, I learned something about my body: in order to keep my skin healthy, I had to avoid certain lotions that would lead to irritation. With the second problem, I had to remind myself to act as an adult and not to succumb to manipulative tasks when trying to persuade a parent. In the end I had to compromise, but the end result was still much better than not being able to see a friend that I cared for dearly. The two problems were handled differently, using two different methods of thinking, but both of my problems were solved in the end. References Dictionary.com. (2012). Introvert. Retrieved from http://dictionary.reference.com/browse/introvert Kirby, G. R., Goodpaster, J. R. (2007). Thinking: An interdisciplinary approach to critical thinking (4th ed.). Retrieved from The University of Phoenix eBook Collection database.

Protecting Women from Domestic Violence Essay -- Abuse Violence Essays

â€Å"Domestic violence is the most ubiquitous constant in women’s lives around the world. There is virtually no place where it is not a significant problem, and women of no race, class, or age are exempt from its reach† -Joni Seager Abstract: Domestic violence against women is a social problem that occurs in nearly every corner of the world. Recently, some states have begun to recognize that women must be protected from abuse by family members and intimates. While policies and practices designed to protect women have emerged in a number of countries, many lag behind on the issue. This paper will examine the causal factors behind the variation in protection for women. The literature on women and politics suggests that women’s representation may increase the level of protection against domestic violence because female legislators are more likely to put women’s issues on the agenda and make policy choices that benefit their sex. Alternatively, the culture of a state may determine whether the society supports rights for women, including protection from domestic violence. A variety of statistics indicating women’s representation and culture were gathered for analysis. Using bi variate cor relation and multiple regression, the theories were tested against each other in an attempt to determine the cause of variation in levels of protection. The findings suggest that both women’s representation and culture are significantly correlated to level of protection. Because the number of women in elected office influences protection to a greater extent than culture, improving women’s representation appears to be an important factor in fighting the domestic violence problem. THE DOMESTIC VIOLENCE PROBLEM Across... .... [3] For data source, see UN. The World’s Women 2000: Trends and Statistics. NY, 2000. [4] For data source, see World Development Indicators, 2003 [5] For data source, see UN, The World’s Women 2000: Trends and Statistics. NY, 2000. [6] For data sources, see Kamerman, Neuman, Waldfogel and Brooks-Gunn. â€Å"Social Policies, Family Types and Child Outcomes in Selected OECD Countries.† OECD, 2003. Luxembourg Income Study, 1997; expert opinion [7] For data source, see Seager, Joni. The Penguin Atlas of Women in the World. Penguin Books: New York, 2003. [8] For data source, see Seager, Joni. The Penguin Atlas of Women in the World. Penguin Books: New York, 2003. [9] For data source, see The World Bank Statistics, 2001 [10] For data source, see Seager, Joni. The Penguin Atlas of Women in the World. Penguin Books: New York, 2003. Protecting Women from Domestic Violence Essay -- Abuse Violence Essays â€Å"Domestic violence is the most ubiquitous constant in women’s lives around the world. There is virtually no place where it is not a significant problem, and women of no race, class, or age are exempt from its reach† -Joni Seager Abstract: Domestic violence against women is a social problem that occurs in nearly every corner of the world. Recently, some states have begun to recognize that women must be protected from abuse by family members and intimates. While policies and practices designed to protect women have emerged in a number of countries, many lag behind on the issue. This paper will examine the causal factors behind the variation in protection for women. The literature on women and politics suggests that women’s representation may increase the level of protection against domestic violence because female legislators are more likely to put women’s issues on the agenda and make policy choices that benefit their sex. Alternatively, the culture of a state may determine whether the society supports rights for women, including protection from domestic violence. A variety of statistics indicating women’s representation and culture were gathered for analysis. Using bi variate cor relation and multiple regression, the theories were tested against each other in an attempt to determine the cause of variation in levels of protection. The findings suggest that both women’s representation and culture are significantly correlated to level of protection. Because the number of women in elected office influences protection to a greater extent than culture, improving women’s representation appears to be an important factor in fighting the domestic violence problem. THE DOMESTIC VIOLENCE PROBLEM Across... .... [3] For data source, see UN. The World’s Women 2000: Trends and Statistics. NY, 2000. [4] For data source, see World Development Indicators, 2003 [5] For data source, see UN, The World’s Women 2000: Trends and Statistics. NY, 2000. [6] For data sources, see Kamerman, Neuman, Waldfogel and Brooks-Gunn. â€Å"Social Policies, Family Types and Child Outcomes in Selected OECD Countries.† OECD, 2003. Luxembourg Income Study, 1997; expert opinion [7] For data source, see Seager, Joni. The Penguin Atlas of Women in the World. Penguin Books: New York, 2003. [8] For data source, see Seager, Joni. The Penguin Atlas of Women in the World. Penguin Books: New York, 2003. [9] For data source, see The World Bank Statistics, 2001 [10] For data source, see Seager, Joni. The Penguin Atlas of Women in the World. Penguin Books: New York, 2003.

The Financial System of Bangladesh

Overview of Financial system of Bangladesh The financial system of Bangladesh is comprised of three broad fragmented sectors: 1. Formal Sector, 2. Semi-Formal Sector, 3. Informal Sector. The sectors have been categorized in accordance with their degree of regulation. The formal sector includes all regulated institutions like Banks, Non-Bank Financial Institutions (FIs), Insurance Companies, Capital Market Intermediaries like Brokerage Houses, Merchant Banks etc. ; Micro Finance Institutions (MFIs).The semi formal sector includes those institutions which are regulated otherwise but do not fall under the jurisdiction of Central Bank, Insurance Authority, Securities and Exchange Commission or any other enacted financial regulator. This sector is mainly represented by Specialized Financial Institutions like House Building Finance Corporation (HBFC), Palli Karma Sahayak Foundation (PKSF), Samabay Bank, Grameen Bank etc. , Non Governmental Organizations (NGOs and discrete government progra ms. About financial MarketThe financial market in Bangladesh is mainly of following types: 1. Money Market: The primary money market is comprised of banks, FIs and primary dealers as intermediaries and savings & lending instruments, treasury bills as instruments. There are currently 15 primary dealers (12 banks and 3 FIs) in Bangladesh. The only active secondary market is overnight call money market which is participated by the scheduled banks and FIs. The money market in Bangladesh is regulated by Bangladesh Bank (BB), the Central Bank of Bangladesh. . Capital market: The primary segment of capital market is operated through private and public offering of equity and bond instruments. The secondary segment of capital market is institutionalized by two (02) stock exchanges-Dhaka Stock Exchange and Chittagong Stock Exchange. The instruments in these exchanges are equity securities (shares), debentures, corporate bonds and treasury bonds. The capital market in Bangladesh is governed by Securities and Commission (SEC). 3.Foreign Exchange Market: Towards liberalization of foreign exchange transactions, a number of measures were adopted since 1990s. Bangladeshi currency, the taka, was declared convertible on current account transactions (as on 24 March 1994), in terms of Article VIII of IMF Article of Agreement (1994). As Taka is not convertible in capital account, resident owned capital is not freely transferable abroad. Repatriation of profits or disinvestment proceeds on non-resident FDI and portfolio investment inflows are permitted freely.Direct investments of non-residents in the industrial sector and portfolio investments of non-residents through stock exchanges are repatriable abroad, as also are capital gains and profits/dividends thereon. Investment abroad of resident-owned capital is subject to prior Bangladesh Bank approval, which is allowed only sparingly. Bangladesh adopted Floating Exchange Rate regime since 31 May 2003. Under the regime, BB does not interfere in the determination of exchange rate, but operates the monetary policy prudently for minimizing extreme swings in exchange rate to avoid adverse repercussion on the domestic economy.The exchange rate is being determined in the market on the basis of market demand and supply forces of the respective currencies. In the forex market banks are free to buy and sale foreign currency in the spot and also in the forward markets. However, to avoid any unusual volatility in the exchange rate, Bangladesh Bank, the regulator of foreign exchange market remains vigilant over the developments in the foreign exchange market and intervenes by buying and selling foreign currencies whenever it deems necessary to maintain stability in the foreign exchange market.Regulators of the Financial System Central Bank Bangladesh Bank acts as the Central Bank of Bangladesh which was established on December 16, 1972 through the enactment of Bangladesh Bank Order 1972- President’s Order No. 127 o f 1972 (Amended in 2003). The general superintendence and direction of the affairs and business of BB have been entrusted to a 9 members' Board of Directors which is headed by the Governor who is the Chief Executive Officer of this institution as well. BB has 40 departments and 9 branch offices.In Strategic Plan (2010-2014), the vision of BB has been stated as, â€Å"To develop continually as a forward looking central bank with competent and committed professionals of high ethical standards, conducting monetary management and financial sector supervision to maintain price stability and financial system robustness, supporting rapid broad based inclusive economic growth, employment generation and poverty eradication in Bangladesh†. The main functions of BB are (Section 7A of BB Order, 1972) – 1. to formulate and implement monetary policy; 2. o formulate and implement intervention policies in the foreign exchange market; 3. to give advice to the Government on the interact ion of monetary policy with fiscal and exchange rate policy, on the impact of various policy measures on the economy and to propose legislative measures it considers necessary or appropriate to attain its objectives and perform its functions; 4. to hold and manage the official foreign reserves of Bangladesh; 5. to promote, regulate and ensure a secure and efficient payment system, including the issue of bank notes; 6. o regulate and supervise banking companies and financial institutions. Core Policies of Central Bank Monetary policy The main objectives of monetary policy of Bangladesh Bank are: †¢Price stability both internal & external †¢Sustainable growth & development †¢High employment †¢Economic and efficient use of resources †¢Stability of financial & payment system Bangladesh Bank declares the monetary policy by issuing Monetary Policy Statement (MPS) twice (January and July) in a year.The tools and instruments for implementation of monetary policy in Bangladesh are Bank Rate, Open Market Operations (OMO), Repurchase agreements (Repo) & Reverse Repo, Statutory Reserve Requirements (SLR & CRR). Reserve Management Strategy Bangladesh Bank maintains the foreign exchange reserve of the country in different currencies to minimize the risk emerging from widespread fluctuation in exchange rate of major currencies and very irregular movement in interest rates in the global money market.BB has established Nostro account arrangements with different Central Banks. Funds accumulated in these accounts are invested in Treasury bills, repos and other government papers in the respective currencies. It also makes investment in the form of short term deposits with different high rated and reputed commercial banks and purchase of high rated sovereign/supranational/corporate bonds. A separate department of BB performs the operational functions regarding investment which is guided by investment policy set by the BB's Investment Committee headed by a Deputy Governor.The underlying principle of the investment policy is to ensure the optimum return on investment with minimum market risk. Interest Rate Policy Under the Financial sector reform program, a flexible interest policy was formulated. According to that, banks are free to charge/fix their deposit (Bank /Financial Institutes) and Lending (Bank /Financial Institutes) rates other than Export Credit. At present, except Pre-shipment export credit and agricultural lending, there is no interest rate cap on lending for banks.Yet, banks can differentiate interest rate up to 3% considering comparative risk elements involved among borrowers in same lending category. With progressive deregulation of interest rates, banks have been advised to announce the mid-rate of the limit (if any) for different sectors and the banks may change interest 1. 5% more or less than the announced mid-rate on the basis of the comparative credit risk. Banks upload their deposit and lending interest rate in their respective website. Capital Adequacy for Banks and FIsWith a view to strengthening the capital base of banks & FIs, Basel-II Accord has been introduced in both of these sectors. For banks, full implementation of Basel-II was started in January 01, 2010 (Guidelines on Risk Based Capital Adequacy for banks). Now, scheduled banks in Bangladesh are required to maintain Tk. 4 billion or 10% of Total Risk Weighted Assets as capital, whichever is higher. For FIs, full implementation of Basel-II has been started in January 01, 2012 (Prudential Guidelines on Capital Adequacy and Market Discipline (CAMD) for Financial Institutions).Now, FIs in Bangladesh are required to maintain Tk. 1 billion or 10% of Total Risk Weighted Assets as capital, whichever is higher. Deposit Insurance The deposit insurance scheme (DIS) was introduced in Bangladesh in August 1984 to act as a safety net for the depositors. All the scheduled banks Bangladesh are the member of this scheme Bank Deposit Insurance A ct 2000. The purpose of DIS is to help to increase market discipline, reduce moral hazard in the financial sector and provide safety nets at the minimum cost to the public in the event of bank failure.A Deposit Insurance Trust Fund (DITF) has also been created for providing limited protection (not exceeding Taka 0. 01 million) to a small depositor in case of winding up of any bank. The Board of Directors of BB is the Trustee Board for the DITF. BB has adopted a system of risk based deposit insurance premium rates applicable for all scheduled banks effective from January – June 2007. According to new instruction regarding premium rates, problem banks are required to pay 0. 09 percent and private banks other than the problem banks and state owned commercial banks are required to pay 0. 7 percent where the percent coverage of the deposits is taka one hundred thousand per depositor per bank. With this end in view, BB has already advised the banks for bringing DIS into the notice of the public through displaying the same in their display board. Insurance Authority Insurance Development and Regulatory Authority (IDRA) was instituted on January 26, 2011 as the regulator of insurance industry being empowered by Insurance Development and Regulatory Act, 2010 by replacing its predecessor, Chief Controller of Insurance.This institution is operated under Ministry of Finance and a 4 member executive body headed by Chairman is responsible for its general supervision and direction of business. IDRA has been established to make the insurance industry as the premier financial service provider in the country by structuring on an efficient corporate environment, by securing embryonic aspiration of society and by penetrating deep into all segments for high economic growth.The mission of IDRA is to protect the interest of the policy holders and other stakeholders under insurance policy, supervise and regulate the insurance industry effectively, ensure orderly and systematic growth of the insurance industry and for matters connected therewith or incidental thereto. Regulator of Capital Market Intermediaries Securities and Exchange Commission (SEC) performs the functions to regulate the capital market intermediaries and issuance of capital and financial instruments by public limited companies.It was established on June 8, 1993 under the Securities and Exchange Commission Act, 1993. A 5 member commission headed by a Chairman has the overall responsibility to administer securities legislation and the Commission is attached to the Ministry of Finance. The mission of SEC is to protect the interests of securities investors, to develop and maintain fair, transparent and efficient securities markets and to ensure proper issuance of securities and compliance with securities laws. The main functions of SEC are: †¢Regulating the business of the Stock Exchanges or any other securities market. Registering and regulating the business of stock-brokers, sub-broke rs, share transfer agents, merchant bankers and managers of issues, trustee of trust deeds, registrar of an issue, underwriters, portfolio managers, investment advisers and other intermediaries in the securities market. †¢Registering, monitoring and regulating of collective investment scheme including all forms of mutual funds. †¢Monitoring and regulating all authorized self regulatory organizations in the securities market. †¢Prohibiting fraudulent and unfair trade practices in any securities market. Promoting investors’ education and providing training for intermediaries of the securities market. †¢Prohibiting insider trading in securities. †¢Regulating the substantial acquisition of shares and take-over of companies. †¢Undertaking investigation and inspection, inquiries and audit of any issuer or dealer of securities, the Stock Exchanges and intermediaries and any self regulatory organization in the securities market. †¢Conducting researc h and publishing information. Regulator of Micro Finance InstitutionsTo bring Non-government Microfinance Institutions (NGO-MFIs) under a regulatory framework, the Government of Bangladesh enacted â€Å"Microcredit Regulatory Authority Act, 2006’† (Act no. 32 of 2006) which came into effect from August 27, 2006. Under this Act, the Government established Microcredit Regulatory Authority (MRA) with a view to ensuring transparency and accountability of microcredit activities of the NGO-MFIs in the country. The Authority is empowered and responsible to implement the said act and to bring the microcredit sector of the country under a full-fledged regulatory framework.MRA’s mission is to ensure transparency and accountability of microfinance operations of NGO-MFIs as well as foster sustainable growth of this sector. In order to achieve its mission, MRA has set itself the task to attain the following goals: †¢To formulate as well as implement the policies to ensu re good governance and transparent financial systems of MFIs. †¢To conduct in-depth research on critical microfinance issues and provide policy inputs to the government consistent with the national strategy for poverty eradication. To provide training of NGO-MFIs and linking them with the broader financial market to facilitate sustainable resources and efficient management. †¢To assist the government to build up an inclusive financial market for economic development of the country. †¢To identify the priorities in the microfinance sector for policy guidance and dissemination of information to attain the MRA’s social responsibility. According to the Act, the MRA will be responsible for the three primary functions that will need to be carried out, namely: †¢Licensing of MFIs with explicit legal powers; Supervision of MFIs to ensure that they continue to comply with the licensing requirements; and †¢Enforcement of sanctions in the event of any MFI failing to meet the licensing and ongoing supervisory requirements. Banks After the independence, banking industry in Bangladesh started its journey with 6 Nationalized commercialized banks, 2 State owned Specialized banks and 3 Foreign Banks. In the 1980's banking industry achieved significant expansion with the entrance of private banks.Now, banks in Bangladesh are primarily of two types: †¢Scheduled Banks: The banks which get license to operate under Bank Company Act, 1991 (Amended in 2003) are termed as Scheduled Banks. †¢Non-Scheduled Banks: The banks which are established for special and definite objective and operate under the acts that are enacted for meeting up those objectives, are termed as Non-Scheduled Banks. These banks cannot perform all functions of scheduled banks. There are 47 scheduled banks in Bangladesh who operate under full control and supervision f Bangladesh Bank which is empowered to do so through Bangladesh Bank Order, 1972 and Bank Company Act, 1991. S cheduled Banks are classified into following types: †¢State Owned Commercial Banks (SOCBs): There are 4 SOCBs which are fully or majorly owned by the Government of Bangladesh. Nationalized Commercial Bank of Bangladesh: †¢Sonali Bank †¢Agrani Bank †¢Rupali Bank †¢Janata Bank †¢ †¢Specialized Banks (SDBs): 9 specialized banks are now operating which were established for specific objectives like agricultural or industrial development. These banks are also fully or majorly owned by the Government of Bangladesh. . Karmasangsthan Bank 2. Bangladesh Krishi Bank 3. Rajshahi Krishi Unnayan Bank 4. Progoti Co-operative Landmortgage Bank Limited (Progoti BanK) 5. Grameen Bank 6. Bangladesh Development Bank Ltd 7. Bangladesh Somobay Bank Limited(Cooperative Bank) 8. Ansar VDP Unnyan Bank 9. BASIC Bank Limited (Bangladesh Small Industries and Commerce Bank Limited †¢ †¢Private Commercial Banks (PCBs): There are 37 private commercial banks which are m ajorly owned by the private entities. PCBs can be categorized into two groups: 1. United Commercial Bank Limited 2. Mutual Trust Bank Limited 3. BRAC Bank Limited . Eastern Bank Limited 5. Dutch-Bangla Bank Limited 6. Dhaka Bank Limited 7. Islami Bank Bangladesh Ltd 8. Uttara Bank Limited 9. Pubali Bank Limited 10. IFIC Bank Limited 11. National Bank Limited 12. The City Bank Limited 13. NCC Bank Limited 14. Mercantile Bank Limited 15. Prime Bank Limited 16. Southeast Bank Limited 17. Al-Arafah Islami Bank Limited 18. Social Islami Bank Limited 19. Standard Bank Limited 20. One Bank Limited 21. Exim Bank Limited 22. Bangladesh Commerce Bank Limited 23. First Security Islami Bank Limited 24. The Premier Bank Limited 25. Bank Asia Limited 26.Trust Bank Limited 27. Shahjalal Islami Bank Limited 28. Jamuna Bank Limited 29. ICB Islamic Bank 30. AB Bank 31. Social Investment Bank Ltd 32. Union Bank 33. Modhumati Bank 34. The Farmers' Bank 35. Midland Bank 36. Meghna Bank 37. South Bangla Agriculture and Commerce Bank †¢Conventional PCBs: 23 conventional PCBs are now operating in the industry. They perform the banking functions in conventional fashion interest based operations. †¢Islami Shariah based PCBs: There are 7 Islami Shariah based PCBs in Bangladesh and they execute banking activities according to Islami Shariah based principles i. . Profit-Loss Sharing (PLS) mode. . †¢Foreign Commercial Banks (FCBs): 10 FCBs are operating in Bangladesh as the branches of the banks which are incorporated in abroad. 10 foreign commercial banks are operating in Bangladesh. These are – 1. Citibank 2. HSBC 3. Standard Chartered Bank 4. Commercial Bank of Ceylon 5. State Bank of India 6. Habib Bank Limited 7. National Bank of Pakistan 8. Woori Bank 9. Bank Alfalah 10. ICICI Bank There are now 4 non-scheduled banks in Bangladesh which are: †¢Ansar VDP Unnayan Bank, †¢Karmashangosthan Bank, †¢Probashi Kollyan Bank, †¢Jubilee Bank FIsNon Bank Financial Institutions (FIs) are those types of financial institutions which are regulated under Financial Institution Act, 1993 and controlled by Bangladesh Bank. Now, 31 FIs are operating in Bangladesh while the maiden one was established in 1981. Out of the total, 2 is fully government owned, 1 is the subsidiary of a SOCB, 13 were initiated by private domestic initiative and 15 were initiated by joint venture initiative. Major sources of funds of FIs are Term Deposit (at least six months tenure), Credit Facility from Banks and other FIs, Call Money as well as Bond and Securitization.The major difference between banks and FIs are as follows: †¢FIs cannot issue cheques, pay-orders or demand drafts. †¢FIs cannot receive demand deposits, †¢FIs cannot be involved in foreign exchange financing, †¢FIs can conduct their business operations with diversified financing modes like syndicated financing, bridge financing, lease financing, securitization instruments, privat e placement of equity etc. Capital market After the independence, establishment of Dhaka Stock Exchange (formerly East Pakistan Stock Exchange) initiated the pathway of capital market intermediaries in Bangladesh.In 1976, formation of Investment Corporation of Bangladesh opened the door of professional portfolio management in institutional form. In last two decades, capital market witnessed number of institutional and regulatory advancements which has resulted diversified capital market intermediaries. At present, capital market intermediaries are of following types: 1. Stock Exchanges: Apart from Dhaka Stock Exchange, there is another stock exchange in Bangladesh that is Chittagong Stock Exchange established in 1995. 2.Central Depository: The only depository system for the transaction and settlement of financial securities, Central Depository Bangladesh Ltd (CDBL) was formed in 2000 which conducts its operations under Depositories Act 1999, Depositories Regulations 2000, Depository (User) Regulations 2003, and the CDBL by-laws. 3. Stock Dealer/Sock Broker: Under SEC (Stock Dealer, Stock Broker & Authorized Representative) Rules 2000, these entities are licensed and they are bound to be a member of any of the two stock exchanges. At present, DSE and CSE have 238 and 136 members respectively. . Merchant Banker & Portfolio Manager: These institutions are licensed to operate under SEC (Merchant Banker & Portfolio Manager Rules) 1996 and 45 institutions have been licensed by SEC under this rules so far. 5. Asset Management Companies (AMCs): AMCs are authorized to act as issue and portfolio manager of the mutual funds which are issued under SEC (Mutual Fund) Rules 2001. There are 15 AMCs in Bangladesh at present. 6. Credit Rating Companies (CRCs): CRCs in Bangladesh are licensed under Credit Rating Companies Rules, 1996 and now, 5 CRCs have been accredited by SEC. 7.Trustees/Custodians: According to rules, all asset backed securitizations and mutual funds must have an accredited trusty and security custodian. For that purpose, SEC has licensed 9 institutions as Trustees and 9 institutions as custodians. 8. Investment Corporation of Bangladesh (ICB): ICB is a specialized capital market intermediary which was established in 1976 through the ordainment of The Investment Corporation of Bangladesh Ordinance 1976. This ordinance has empowered ICB to perform all types of capital market intermediation that fall under jurisdiction of SEC. ICB has three subsidiaries: 8. 1.ICB Capital Management Ltd. , 8. 2. ICB Asset Management Company Ltd. , 8. 3. ICB Securities Trading Company Ltd. Insurance Insurance sector in Bangladesh emerged after independence with 2 nationalized insurance companies- 1 Life & 1 General; and 1 foreign insurance company. In mid 80s, private sector insurance companies started to enter in the industry and it got expanded. Now days, 62 companies are operating under Insurance Act 2010. Out of them- †¢18 are Life Insurance Compani es including 1 foreign company and 1 is state-owned company, †¢44 General Insurance Companies including 1 state-owned company.Insurance companies in Bangladesh provide following services: 1. Life insurance, 2. General Insurance, 3. Reinsurance, 4. Micro-insurance, 5. Takaful or Islami insurance. Micro Finance Institutions (MFIs) The member-based Microfinance Institutions (MFIs) constitute a rapidly growing segment of the Rural Financial Market (RFM) in Bangladesh. Microcredit programs (MCP) in Bangladesh are implemented by various formal financial institutions (nationalized commercial banks and specialized banks), specialized government organizations and Non-Government Organizations (NGOs).The growth in the MFI sector, in terms of the number of MFI as well as total membership, was phenomenal during the 1990s and continues till today. Despite the fact that more than a thousand of institutions are operating microcredit programs, but only 10 large Microcredit Institutions (MFIs) a nd Grameen Bank represent 87% of total savings of the sector and 81% of total outstanding loan of the sector. Through the financial services of microcredit, the poor people are engaging themselves in various income generating activities and around 30 million poor people are directly benefited from microcredit programs.Credit services of this sector can be categorized into six broad groups: i) general microcredit for small-scale self employment based activities, ii) microenterprise loans, iii) loans for ultra poor, iv) agricultural loans, v) seasonal loans, and vi) loans for disaster management. Currently, 599 institutions (as of October 10 2011) have been licensed by MRA to operate Micro Credit Programs. But, Grameen Bank is out of the jurisdiction of MRA as it is operated under a distinct legislation- Grameen Bank Ordinance, 1983. Recent Developments in Financial Sector of BangladeshAutomation and Technological Development: Banking sector experienced remarkable progress in respect of automation in functioning in last several years. For the pro-active and forward-visioning approach of Bangladesh Bank, numbers of automation initiatives have been implemented in banking sector. These initiatives include: †¢To create a disciplined environment for borrowing, the automated Credit Information Bureau (CIB) service provides credit related information for prospective and existing borrowers. With this improved and efficient system, risk management will be more effective.Banks and financial institutions may furnish credit information to CIB database 24 by 7 around the year; and they can access credit reports from CIB online instantly. †¢L/C Monitoring System has been introduced for preservation and using the all necessary information regarding L/C by the banks through BB website. This system allows the authorized users of banks to upload and download their L/C information. †¢ In terms of article 36(3) of Bangladesh Bank Order, 1972, all scheduled banks are subject to submit Weekly Statement of Position as at the close of business on every Thursday to the Department of Off-site Supervision.This statement now is submitted through on-line using the web upload service of BB website within o3 (three) working days after the reporting date which is much more time and labor efficient that the earlier manual system. †¢The e-Returns service has been introduced which is An Online Portal Service for Scheduled Banks to submit Electronic Returns using predefined template for the purpose of Macro Economy Analysis through related BB Departments. †¢Online Export Monitoring System is used for monitoring export of Bangladesh. Through this service, Banks and AD Branches of Banks issue & reports export report. Bangladesh Automated Clearing House (BACH) started to work by replacing the ancient manual clearing system which allows the inter-bank cheques and similar type instruments to be to settled in instant manner. †¢Electronic Fund Transfer (EFT) has been introduced which facilitates the banks to make bulk payments instantly and using least paper and manpower. †¢The initiation of Mobile Banking has been one of the most noteworthy advancement in banking. Through this system, franchises of banks through mobile operators can provide banking service to even the remotest corner of the country. Almost every commercial bank is now using their own core banking solution which has made banking very faster and efficient. Usage of plastic money has much more increased in daily life transactions. Full or partial online banking is now being practiced by almost every bank. Inauguration of internet trading in both of the bourses (DSE & CSE) in the country is the most significant advancement for capital market in last several years. Micro Finance Institutions submit their reports to the regulator through the Online Report Submission Tools for MFIs. Institutional Development:Through the Central Bank Strengthening Project, there ha ve been a good number of achievements regarding the institutional development in BB which can be observed below: †¢The implementation of Enterprise Resource Planning (ERP) has been a big step in automation of operational structure of BB. †¢The establishment of Enterprise Data Warehouse (under process) will bring the whole banking and FI industry under a single network through which data sharing, reporting and supervision will enter in a new horizon. †¢Bangladesh Bank now possesses the most informative and resourceful website of the country regarding economic and financial information. Internal networking system with required online communication facilities have been developed and in operation for the officers of BB. †¢BB has hosted number of international seminars on different economic and financial issues over last several years. MRA was established in 2006 for bringing NGO-MFIs under supervision. For the pro active role of MRA, this sector (MFI) is now in a goo d shape regarding the accountability and regulation. For abolishing anomaly and fetching discipline in insurance industry, IDRA was established in 2011.In one year, IDRA has taken number of appreciable steps to regularize this industry. After the massive crash of local bourses in 2010-2011, the executive body of SEC was redesigned in full and some good results have come after that. Regulatory Development: Banking and FI industries have experienced diversified regulatory development over last few years: †¢Full implementation of Basel-II (International capital adequacy standard) accord has been in effect in both banking and FI industry. †¢Guidelines on Environmental and Climate Change Risk Management for banks and FIs have been circulated.Policy guidelines on Green Banking also have been issued. †¢Guidelines on Stress Testing for banks and FIs have been issued which is aimed to assess the resilience of banks and FIs under different adverse situations. †¢Number of P olicy initiatives for Financial Inclusion has been undertaken. †¢Banks have been asked to build up separate Risk Management Unit for comprehensive and intensive risk management. †¢Banks have been instructed to create separate subsidiary for capital market operations and capital market operations of banks are now minutely monitored. Supervision has been intensified to increase the participation of banks in Corporate Social Responsibility (CSR). †¢For the efficient and timely action of BB, foreign exchange reserve of Bangladesh did not face any adversity during global financial turmoil of 2007-09. †¢To meet international standard on Anti Money Laundering (AML)/Combating Financing of Terrorism (CFT) issues, guidelines for Money Changers, Insurance Companies and Postal Remittance have already been circulated. SEC has updated Public Issue Rules, 2006 and Mutual Fund Rules, 2001.Apart from that, numbers of AMCs, merchant banks and are Mutual Funds are permitted by SEC which has increased the participation of institutional investors. The trend of capital market research has been upward which indicates the potential of analytical investment decision. Insurance Act 2010 was formulated to meet demand of concurrent time for shifting the insurance industry in a better shape. Apart from that, several initiatives have been undertaken by IDRA for prohibiting the malpractices in the industry regarding insurance commission, agent, premium etc and corporate governance issues.Banks As on June 2011 Deposits AdvancesTotal Capital*No. of Branches 4115855. 50 Million3212848. 70 Million461697. 00 Million7772 FIs As on December 2010 Deposits Loans and leasesAssetsShare Capital & ReserveNo. of Branches 94374. 80 Million321284. 87 Million251527. 34 Million44689. 29 Million115 Insurance As on December 2009 AssetShare CapitalReserve Life Insurance118020. 15 Million1245. 54 Million106098. 88 Million Non-Life Insurance42622. 90 Million6653. 83 Million12133. 30 Million Ca pital MarketMarket Capitalization of Dhaka Stock Exchange As on September 2011 All Listed Securities2,782,901Million All Listed Companies Shares2,202,274 Million All Listed Mutual Funds35,733 Million All Debentures576 Million All Listed Govt. T-Bonds537,381 Million All Listed Corporate Bonds6,937 Million MFIs As on June 2009 Total Outstanding Number of ClientsNumber of BorrowersNo. of Branches 1,21,881. 85 Million24. 77 Million19. 50Million 18,022 * Sum of Tier-I, Tier-II and Tier-II Capital Components Related article: Padma Bridge

Breast Cancer And The Use Of Exercise As Medicine

An Overview of Breast Cancer and the Use of Exercise as Medicine According to Moyer (2013), â€Å"breast cancer is the most common non-skin cancer in women†; this makes breast cancer a relevant topic due to its impact among the female population (p.698). To put a number to how many women breast cancer is estimated to effect in America, the American Cancer Society (2014) has a statistics stating that â€Å"every year over 200,000 American women are diagnosed with breast cancer†. With a relatively high number of women within America being diagnosed with breast cancer it is important to gain knowledge about the disease. Not only is it important to increase our information of breast cancer, but to improve our understanding of different treatments that†¦show more content†¦According to Cuppett and Walsh (2012), common areas where â€Å"cancer of the breast originates are in the breast ducts and lobules† (p. 214). These two areas of the breast are involved in the movement of milk to the nipple. Multiple lobules create a lob e which then transports breast milk to the ducts where the milk then can be moved to the nipple (Cuppett Walsh, 2012). Also, Cuppett and Walsh discussed that â€Å"three major types of breast cancer are described on the basis of their location of origin and histology† (p.214). These three major types of breast cancer are lobular cancer, ductal cancer, and inflammatory breast cancer (Cuppett Walsh, 2012). When diagnosed with breast cancer a patient may have received a mammography or self-examination. Diagnosis There are different signs that can indicate to an individual that they may have breast cancer. During the self- examination some signs are: â€Å"nipple discharge, inverted nipple, change in shape or size of breast, change in appearance of skin, or a lump/mass is felt during palpation† (Cuppett Walsh, 2012, p.216-217). Then during a mammography a mass maybe seen and this can indicate the location and size of the tumor with the breast (Cuppett Walsh, 2012). Once the mass is seen then testing can be down to tell what the tumor is consisting of which can then help with treatment options. The tumor can be made up of estrogen hormone