Financial services – Hotel Oliebol http://hoteloliebol.com/ Sun, 20 Nov 2022 10:05:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://hoteloliebol.com/wp-content/uploads/2021/10/icon-1-120x120.png Financial services – Hotel Oliebol http://hoteloliebol.com/ 32 32 Nagad Islamic and IBBL partner for transparent financial services https://hoteloliebol.com/nagad-islamic-and-ibbl-partner-for-transparent-financial-services/ Sun, 20 Nov 2022 10:05:00 +0000 https://hoteloliebol.com/nagad-islamic-and-ibbl-partner-for-transparent-financial-services/ Nagad, a mobile financial services (MFS) provider in the Bangladesh Postal Department, and Islami Bangladesh Bank Ltd (IBBL) have forged ties to help customers conduct seamless financial transactions – from adding money to DPS payouts to the transfer of funds – through their Nagad wallets. Additionally, customers will be able to enjoy Nagad and Nagad […]]]>

Nagad, a mobile financial services (MFS) provider in the Bangladesh Postal Department, and Islami Bangladesh Bank Ltd (IBBL) have forged ties to help customers conduct seamless financial transactions – from adding money to DPS payouts to the transfer of funds – through their Nagad wallets.

Additionally, customers will be able to enjoy Nagad and Nagad Islamic services using IBBL’s “CellFin” app.

To that end, provider MFS and the bank recently signed a partnership agreement at a hotel in the city.

Minister of Posts and Telecommunications Mustafa Jabbar, Secretary of Posts and Telecommunications Division Md Khalilur Rahman, Director General of Department of Posts Md Harunur Rashid, Director General of Islamic Foundation Md Munim Hasan, Director General and CEO of IBBL Muhammad Munirul Maula , Founder and Managing Director of Nagad Tanvir A Mishuk, as well as other senior officials from Nagad and Islami Bank were present at the ceremony.

Now people can add money to their Islamic Nagad and Nagad wallets instantly from their Islami Bank accounts without any fees. Additionally, they can pay DPS installments to Islami Bank as well as transfer funds to Nagad accounts, a press release reads.

Minister of Posts and Telecommunications Mustafa Jabbar said, “Today we are happy that an institution like Nagad is partnering with Islami Bank. I thank Nagad for all its innovations aimed at improving the customer experience.

MFS company innovations like e-KYC have been a game-changer in bringing more and more unbanked people under financial inclusion, he noted.

Nagad’s collaboration with Islami Bank has also set a good example for others, Mustafa Jabbar pointed out.

“Wish Islami Bank and Nagad Islamic all the best. We hope digital Bangladesh will lead to a prosperous Bangladesh,” the minister added.

At the event, IBBL Managing Director and CEO Muhammad Munirul Maula said, “Nagad has onboarded 6.5 crore customers in just three and a half years. I thank them for that.”

Nagad has introduced Islamic services, which is the need of the hour, he also said, adding, “The MFS provider has come up with services that millions of people have been longing for for a long time.”

Nagad will taste more success in the days to come, believes the IBBL MD.

“The collaboration between our CellFin app and Nagad Islamic will bring more unbanked people to financial inclusion,” hopes Muhammad Munirul Maula.

Founder and Managing Director of Nagad Tanvir A Mishuk said in his speech, “I thank Islami Bank for starting a journey with Nagad. Banks cannot bring services to people’s doorsteps, but platforms like Nagad can. We want to give smart cards to our 6.5 crore customers next year.”

Nagad started with a vision of reaching people with as low a cost as possible, he noted, adding, “From the very beginning, we have been working on innovations for people’s well-being. The country’s MFS sector will not be held hostage to anyone, we want to provide this service to everyone.”

In the meantime, customers will receive a Tk30 mobile recharge if they make an add money transaction of 3,550 Tk to their Nagad and Nagad Islamic wallets from IBBL accounts, the statement added.

A customer can only take advantage of this offer once. From the 20th of this month, the offer will remain valid until November 30th.

Nagad has expanded the reach of its “Bank to Nagad” extra money service to provide consumers with faster and improved services. Banks’ internet banking users can instantly transfer money to their Nagad accounts without any fees.

Nagad customers can now benefit from the money adding service of more than 30 banks.

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Myanmar Financial Services Monitor (Premium Subscription): Detailed and up-to-date news and trends, industry data and trends – ResearchAndMarkets.com https://hoteloliebol.com/myanmar-financial-services-monitor-premium-subscription-detailed-and-up-to-date-news-and-trends-industry-data-and-trends-researchandmarkets-com/ Fri, 18 Nov 2022 16:31:00 +0000 https://hoteloliebol.com/myanmar-financial-services-monitor-premium-subscription-detailed-and-up-to-date-news-and-trends-industry-data-and-trends-researchandmarkets-com/ DUBLIN–(BUSINESS WIRE)–The “Myanmar Financial Services Monitor (Premium Subscription)” the newsletter has been added to from ResearchAndMarkets.com offer. The Myanmar Financial Services Monitor provides detailed, up-to-date and original information on banking, insurance, capital markets, microfinance, mobile money and other related fields. It is designed to help businesses and other organizations identify business opportunities, track the industry, […]]]>

DUBLIN–()–The “Myanmar Financial Services Monitor (Premium Subscription)” the newsletter has been added to from ResearchAndMarkets.com offer.

The Myanmar Financial Services Monitor provides detailed, up-to-date and original information on banking, insurance, capital markets, microfinance, mobile money and other related fields.

It is designed to help businesses and other organizations identify business opportunities, track the industry, find partners or suppliers, conduct market research and track developments.

This service is unique and is researched and published by the research team in Yangon.

Four main types of content are included in the platform:

  • News – The news section is updated daily and forms the core of our weekly Myanmar Financial Services report for subscribers. We produce content using original research and interviews, as well as monitoring and reviewing dozens of local and international sources.

  • Companies – The Companies Database contains profiles of local and international companies operating in Myanmar’s financial services sector. Information includes details of operations, management, background, key contacts, finances and more.

  • Data – The Resource Library includes a range of financial and banking data, as well as other useful documents and reports for professional readers.

Who should buy this subscription:

Myanmar Financial Services Monitor Premium Subscription

The Premium Financial Services Monitor subscription provides full access to all features, including News, Company Database and Data & Resource Library, as well as the Financial Services Monitor weekly newsletter.

He understands:

  • Daily review and analysis news from local and international sources
  • Company database covering banking, insurance, capital markets, microfinance, regulators and others
  • Data and Resource Library covering banking, insurance, capital markets, microfinance and legislation
  • business tracking with over 150 detailed company profiles
  • 50 issues of the Weekly Brief email with comprehensive updates on news, companies, data and more.

Main topics covered:

1. Latest news

  • AGD Bank launches postal partnership

  • GTB prepares before the insurance license

  • Defaulted Yangon borrowers owe MEB $150m

  • SMI telecom sale dispute goes to arbitration

  • Demand for private bank swaps surprises CBM

2. Banking

  • AGD Bank launches postal partnership

  • Defaulted Yangon borrowers owe MEB $150m

  • Demand for private bank swaps surprises CBM

  • FPB launches SME loans of 3 to 5 years

  • Data analysis: Profits of public banks

3. Microfinance

  • Sagaing-focused MFI partners with Croatian fintech

  • Data Analytics: The Increasingly Competitive Landscape of Microfinance

  • An MFI and a bank sign a funding agreement

  • IFC grants credit facility to MFI

  • Foreign MFIs open branches Yangon, Ayeyarwady

4. Capital markets

  • YSX expects foreign participation by the end of the year

  • A hotel company launches a public offer

  • Meeting Held to Discuss Capital Market Improvements

  • Public offer approved for a hotel company

  • Foreign company obtains securities advisory license

  • SMI telecom sale dispute goes to arbitration

  • Get Ride nears $10 million in commitments

  • Myanmar Sub-Cable Raises Series B Funding

  • MPT lags behind MyTel in mobile money license queue

  • Freight service gets six-figure investment

5. Insurance

  • More pilgrims buy travel insurance

  • The public insurer expects four new products by the end of 2018

  • IKBZ offers a short-term life insurance product

  • Insurance Company Plans Digital Portal

  • Housing insurance package provided by several parties

Companies cited

  • A bank

  • Asian Green Development Bank (AGD Bank)

  • Bank of Asia Yangon

  • AYA Bank

  • Cooperative Bank (CB Bank)

  • Construction, Housing and Infrastructure Development Bank (CHIDB)

  • First private bank

  • World Treasure Bank (GTB)

  • Innwa Bank

  • KBZ Bank

  • Myanmar Apex Bank (MAB)

  • Myanmar Citizens Bank

  • Myanmar Microfinance Bank

  • Myanmar Eastern Bank (MOB)

  • Myawaddy Bank

  • Naypyitaw Sibin Bank

  • Rural Development Bank

  • Shwe Bank

  • Small and Medium Industries Development Bank (SMIDB)

  • Tun Commercial Bank

  • United Amara Bank (UAB)

  • Yoma Bank

  • Myanmar Agricultural Development Bank (MADB)

  • Myanmar Economic Bank (MEB)

  • Myanmar Foreign Trade Bank (MFTB)

  • Myanmar Investment and Commercial Bank (MICB)

  • Yadanabon Bank

  • Yangon City Bank

  • Australian and New Zealand Banking Group (ANZ)

  • Bank of Bangkok

  • Bank of Tokyo-Mitsubishi UFJ (MUFG Bank)

  • BIDV

  • E.Sun Commercial Bank

  • Industrial and Commercial Bank of China (ICBC)

  • Malaysian Bank Berhad (Maybank)

  • Mizuho Bank

  • Overseas-Chinese Banking Corporation (OCBC Bank)

  • Shinhan Bank

  • National Bank of India

  • Sumitomo Mitsui Banking Corporation (SMBC)

  • United Overseas Bank (UOB)

  • Aung Myint Moh Min Insurance

  • Aung Thitsa Oo Insurance

  • AYA Myanmar Insurance (AMI)

  • Capital Life Insurance

  • CB Insurance

  • Excellent Fortune Insurance (EFI)

  • First National Insurance (FNI)

  • Global Global Insurance

  • Grand Guardian Insurance (GGI)

  • Insurance IKBZ

  • Myanmar Insurance (MI)

  • Pillar of Truth Insurance

  • Young Global Insurance (YIG)

  • Aegis Management Consultants & Insurance Agency

  • AIA

  • Dai-ichi Life Holdings

  • Jardine Lloyd Thompson (JLT)

  • Marsh

  • Mitsui Sumitomo Insurance

  • Muang Thai Life Insurance (MTL)

  • New India Insurance

  • Poe-ma Insurance

  • Prudential holdings

  • Shin Kong life insurance

  • Sompo Japan Nipponkoa

  • Tokio Marine & Nichido Fire Insurance

  • United Overseas Insurance (UOI)

  • Willis Towers Watson

For more information about this newsletter, visit https://www.researchandmarkets.com/r/alcsqp

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Building operational resilience in financial services https://hoteloliebol.com/building-operational-resilience-in-financial-services/ Tue, 15 Nov 2022 14:39:52 +0000 https://hoteloliebol.com/building-operational-resilience-in-financial-services/ Financial service providers operate some of the most critical systems that consumers and businesses interact with on a daily basis. Everything from buying a coffee to paying a bill or taking out a mortgage depends on continued access to a bank and its services. It is essential that these services are resilient and always available, […]]]>

Financial service providers operate some of the most critical systems that consumers and businesses interact with on a daily basis. Everything from buying a coffee to paying a bill or taking out a mortgage depends on continued access to a bank and its services. It is essential that these services are resilient and always available, otherwise financial services organizations not only risk losing consumer confidence, but could also breach the policy of industry regulators.

However, as the financial industry continues to become more innovative in its use of technology, with everything from open banking, contactless payment and biometric authentication becoming more widespread, the systems that power these services are also become more complicated. As a result, it is becoming increasingly difficult for IT operations and development teams to maintain the end-to-end view necessary to ensure that services are always available and provide a seamless customer experience.

Regulate for resilience

These questions have recently become even more relevant with the introduction of new PRA Operational Resilience Policy. The policy requires financial organizations to identify their “significant business services” by considering how disruption to these areas could impact beyond their own business interests. For example, an hour-long outage in a central banking hub could have far-reaching consequences outside of the bank, ranging from delays in exchanging contracts on buying a home to consumers stuck in queues. queues at supermarkets unable to pay for their groceries.

Once their important business services have been identified, the policy requires financial providers to assess their operational resilience. In other words, they need a clear understanding of the organization’s ability to prevent, recover from, and learn from disruptions to important business services. It also requires them to set an impact tolerance for these services, to specify what is the maximum level of disruption that an important business service can sustain before it causes a risk to the organization or its customers.

At their core, the new regulations were designed to protect the wider financial sector and the UK economy from the impact of operational disruptions that could create situations like these. This is an important step to highlight the strategic importance of observability in the financial services industry.

More and more complex services

This faster pace of innovation has come at the cost of greater complexity in how financial services are designed, built and operated. Organizations have adopted a host of modern approaches such as multi-cloud environments, cloud-native architectures, and open-source code libraries to drive innovation and create new digital solutions. But while these have allowed banks to move quickly, they are also increasingly difficult to monitor manually. In reality,
67% of CIOs in the financial services industry say the complexity of their environment has outstripped the human capacity to manage.

This complexity has the potential to create blind spots that lead to disruptions to important business services if left unchecked. Without visibility across the entire technology stack, it becomes more likely that a software update to add a new feature or fix a vulnerability in a critical banking application could impact service availability. Limited visibility also makes it very difficult for developers to quickly identify the precise root cause of the problem and fix it, which means downtime can exceed impact tolerance.

To anticipate where these issues may arise and proactively resolve them before customers are impacted, finance organizations need end-to-end observability across the entire environment supporting their critical business services. By combining this observability with AIOps capabilities, financial service providers can identify any threats to the stability of their important business services in real time, making it easier to ensure their resilience.

Benefits beyond compliance

The new PRA policy only reinforces the fact that it is no longer a “benefit” for banks to have an end-to-end view of their technology stack – it is an essential requirement. At first, these regulations may seem like a heavy-handed approach to enforcing the need to monitor critical services and report disruptions. But in the long run, the results of these efforts will have a significant impact on the ability of financial service providers to differentiate themselves by delivering seamless digital experiences to their customers. If financial organizations see these regulations as an opportunity to improve the way they deliver IT services to the business and its customers, they will soon discover new ways to innovate and outpace their competitors.

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Increased role of mobile financial services https://hoteloliebol.com/increased-role-of-mobile-financial-services/ Sat, 12 Nov 2022 15:48:46 +0000 https://hoteloliebol.com/increased-role-of-mobile-financial-services/ Published: November 12, 2022 9:48:46 p.m. It is good to see policymakers, experts and economists agreeing on the vital role mobile financial services (MFS) can play in increasing the rapidly declining flow of remittances through formal channels. As it stands, it is estimated that around half of all incoming remittances are routed through illicit channels […]]]>