Saving Account OR Destroying Account

Saving Account OR Destroying Account

Some days back, I heard an interesting conversation of two friends A and B of a country ABC that I would like to share with you as follows. Sometimes, some stuff is useful, partly or fully that we throw it, considering it, as useless. Similarly, this conversation, of these two persons, who don’t seem to be experts, in Finance field but most probably we can get some good thing (s) (if available) from this conversation. According to me, it is unfair to underestimate anyone’s imagination, just because of lesser Education / Experience / Expertise. Following two most popular quotes of Albert Einstein’s will definitely support me:

IMAGINATION is more important than knowledge. For knowledge is limited, whereas, imagination embraces the entire world, stimulating progress, giving birth to evolution.

And

Logic will get you from A to B. IMAGINATION will take you everywhere.

The Conversation

Friend A

Dear! I am noticing that years back, I used to receive more than 10% to 12% p.a. on my investment, maintained at a bank. But this percentage is going down year by year and now it has been reduced to 3% to 5% p.a. This declining trend is very alarming for me and it seems that after some years, I will receive 0% p.a. Do you have any idea about it? Perhaps I don’t have any concrete knowledge…….

Friend B

Buddy! Yes, it is true and it is not only happening in your country but it is being occurred all over the world due to unstable economic conditions and sometimes it is due to adoption of different techniques to encourage or discourage investments. Further, your distressed feelings are also right that this percentage can not only go to 0% but it can also go into negative. Means, it is possible that you will have to pay to your bank on your investment instead of receiving. It has also taken place in some places. Actually, banks invest your money as per different prevailing Banking Rules & Regulations of their homeland’s central banks. Then upon these investments, they pay you as per the Rate of Return, set by their Central Banks……………………..

Friend A

Thanks for your good explanation / guidance for me but why these banks or central banks don’t promote such investment methods that are having different good characteristics of different Banking Systems. So that higher return could be obtained. Why banks lend money on limited Fixed Ratios / Markup Rates, Banks have to lend money on agreed substantial Profit Sharing Ratios as a Working Partner and Bank or their outsourced resources should fully involve into their Borrower’s Businesses / Projects so that more Productivity, more Transparency and more Profitability could be achieved. This way, depositors’ money will be more secured and will be having a good growth in shape of higher returns. This will also encourage depositors for further investments. Moreover, employment opportunities will also be created with good expansion of different businesses. Finally, the Economy will be Stronger and Stronger.

The World actually needs a Stronger Economy that can create Peace, Progress and Prosperity all over the World. Forgetting about region or religion relations of any economy, we should adopt best, more profitable and fair techniques of any type of economy and we should not focus or debate in the names of different economies i.e. A Economy, B Economy or C Economy as WORLD NEEDS STRONGER ECONOMY ONLY…………… 

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Reinvent Banking to Strengthen the Global Economy…..……

Don’t do banking conventionally

DO BANKING INNOVATIVELY

Don’t do project-finance conventionally

DO PROJECT-FINANCE INNOVATIVELY

Don’t do project-finance for smaller gains i.e. Markup Ratios

DO PROJECT-FINANCE FOR BIGGEST GAINS I.E. ‘PROFIT SHARING RATIOS’

Don’t do project-finance as ‘Lending Institution’

DO PROJECT-FINANCE AS ‘BUSINESS PARTNER’ WITH THE BORROWERS

Don’t do project-finance and sleep

DO PROJECT-FINANCE AND INVOLVE AS AN ACTIVE BUSINESS PARTNER IN THE BORROWER’S BUSINESS ACTIVITIES

Don’t do project-finance and increase the risks of Bankruptcy and Frauds etc.

DO PROJECT-FINANCE AND INVOLVE AS AN ACTIVE PARTNER IN THE BUSINESS FINANCIALS AS WELL

Don’t accept Deposits for Limited Gains on Overnight Investments and for Limited Profit Payments to Depositors

DO ACCEPT DEPOSITS AND UTILIZE THEM INTO INNOVATIVE PROJECT-FINANCE FOR LARGER GAINS AND FOR BETTER PROFIT PAYMENTS TO DEPOSITORS

Don’t do project-finance and wait for Repayments from Borrowers

DO PROJECT-FINANCE AND SHARE / CONTROL THE CASH INFLOWS ALONG WITH PROFIT

Don’t do project-finance conventionally and bound the Employment Opportunities, Business Growth, Bank Growth and ultimately Economic Growth

DO PROJECT-FINANCE INNOVATIVELY AND EXPAND EMPLOYMENT OPPORTUNITIES, BUSINESS GROWTH, BANK GROWTH AND ULTIMATELY ECONOMIC GROWTH

Global Identification

‘Global Peace & Security’ is evident to everyone. It seems that it is now under the Wrong Hands. The World’s Most Peaceful Regions that were under Peace for numerous years and these were Peace Examples of the World, have been targeted today.

WE the Whole Globe should be united, immediately and should work together for Global Peace & Security. In this mission, I would like to share a Great Idea / Proposal that is ‘Global Identification’.

‘Global Identification’ can be considered as Globalization of Identity. Means, in addition to National Identification, a Global Identification should be there that can be Identified / Recognized / Verified / Validated / Recorded / Agreed, across the National Borders and all over the World. Each and every Action (particularly Movement) of an Individual, whether this action is taking place inside the Country OR anywhere in the World, should be recorded with this Global Identity, so that a proper record of an Individual can be maintained GLOBALLY, irrespective of his / her Country.

The Global Identification Number should be a Globally Unique Number that should be a combination of National Identity Number, Check Digit, Capital / Small Alphabets, Numbers and Special Characters. The Check Digit will be used to confirm the Integrity / Validity of Global Identification Number.

I sincerely believe that this ‘Global Identification’ concept is very Unique, will be very useful and all Concerned Authorities of the World will consider it.

BE UNITED TODAY FOR A PEACEFUL & SECURE TOMORROW…………

Keep the WEB under Lock & Key

The World Wide Web (www) can be considered as ‘Heart of Information Technology’ and ‘Global Information Hub’. Congratulations to those, who are using this hub POSITIVELY.

But on the other hand, this hub is also being used negatively in shape of Financial Cyber Crimes, Non-Financial Cyber Crimes, Terrorism or any other similar activities. These negative activities have destroyed billion of dollars and are still destroying.

Individuals, Organizations, Countries and Group of Countries are consistently working to stop or to minimize these activities to avoid further Financial or Non-Financial Losses. Their endeavors are really commendable.

Now to participate in these noble efforts, I have a small but an effective idea that could bring a revolution in the Web Security.

The Idea is “WEB should be kept under Lock & Key and it should be accessed through National ID & Password of any Country.”

In other words whenever Web / www is typed on any machine, anywhere in the world; Web Security System should ask National ID and Password. After correct inputs, it should allow Web / www access, otherwise it should not. Password could be in any shape i.e. secret word, fingerprints, facial, iris recognition or any other advanced password types.

After a successful login, user will be able to use the Web / www until session closure. All his / her activities will be logged and will be kept highly CONFIDENTIAL by the Web Security System and should not be disclosed to any one until and unless an investigation needs to be done.

I sincerely hope that all concerned over the world, will review this Idea.

Enjoy a Happy & Healthy Life on the WEB……………………………….

Request for Opening of ‘Real Current Account’

To,

The Manager

ABC Bank

Dear Sir,

Please note, I am maintaining a Current Account with you and according to my limited knowledge and information, the funds / deposits available in my account are being used by you for further investments / earnings on daily basis. Perhaps, you are doing it, definitely on the basis of any clause mentioned in instructions sheets, attached in the Account Opening Form that was accepted and signed by me at the time of opening of account.

Anyhow, you are requested to please open my ‘Real Current Account’ wherein I can deposit my funds and you cannot use these funds for onward investments etc. because I have to deposit my funds with you, considering you as a ‘Custodian’ of my assets and you may charge any maintenance fee.

In the end, my little knowledge also says that to open Real Current Account is also in the benefit of your existence / survival because if you don’t open Real Current Accounts and keep maintaining existing type of Current Accounts for onward investments etc. then what will happen if all Current Account Holders come at same time and withdraw all their Deposits???

Your Customer

XYZ

Revolutionize the KYC & AML

Continued efforts, all over the world, are still under way to further strengthen the KYC and AML Processes.

In this mission, I would also like to participate by adding my small words that I think, could bring big revolution here. According to me, a Unique Global Identification at World Level can boost the process very much. In other words, a Unique Global Identification of an individual / organization can help to make the system, healthier. If a Unique Global Identification is designed and then applied on each & every record of the World then summarized information of all activities / transactions can easily be obtained for a specific individual / organization. This will also help to analyze / summarize the future activities / transactions, as well. Further, it will also provide useful information about ‘Know Your Customer’ and then ‘Anti Money Laundering’ etc. Hence, a very solid net of Global Identification will be created over the Globe wherein no one will be able to save himself from it and his every activity / transaction, anywhere in the World, will not be recorded without his Unique Global Identification because a strict world law will ensure it.

‘Global Identification’ can be considered as Globalization of Identity. Means, in addition to National Identification, a Global Identification should also be there that can be Identified / Recognized / Verified / Validated / Recorded / Agreed, across the National Borders and all over the World, in EACH & EVERY ACTIVITIES / TRANSACTIONS for a specific individual / organization.

For further details, my following Idea / Article can assist you a lot:

“Global Identification”

https://www.linkedin.com/pulse/global-identification-muhammad-asim

THINK DIFFERENTLY TO SHAPE THE GLOBE, SAFER…

 

Security Booster for Blockchain

All POSITIVE Objectives of ‘Blockchain’ are sincerely welcomed and best wishes for their higher achievements.

Continuous efforts, all over the world, are still under way, to make this technology, more secure & robust.

In this mission, I would also like to participate, by sharing my following suggestions to further boost its security. In other words, I have a unique concept that could work for it as a Security Booster; it is ‘Global Identification’.

Yes, a unique Global Identification can make the system more strong and can make its activities, more secure & reliable.

‘Global Identification’ can be considered as Globalization of Identity. Means, in addition to National Identification, a Global Identification should also be there that can be Identified / Recognized / Verified / Validated / Recorded / Agreed, across the National Borders and all over the World, in EACH & EVERY ACTIVITIES particularly the Blockchain related activities.

For further details, my following article will be more helpful:

“Global Identification”

https://www.linkedin.com/pulse/global-identification-muhammad-asim

THINK UNIQUELY & POSITIVELY TO MAKE THE WORLD MORE SECURE & SAFE…

Help Banking (Help the Helper and the Helpless…)

There is a certain type of amazing & wonderful people who neither want any profit on that their deposits at banks nor they want that their money is used by banks. Those great people helplessly maintains their deposits at banks because they have no other choice.

Efforts of Non-Governmental Organizations / Welfare Organization are much appreciated who are consistently striving their best, basically to help the helpless people. These organizations mostly help the poor & needy people but have they ever thought that they can also help such people who are not poor & needy but they are having good financial strength and this help will be indirectly help the poor & needy. But how?

According to me, I have a very unique innovative custodian banking model i.e. “Help Banking”. A banking that can provide Help, Assistance, Support and a lot more to the humanity particularly the poor & needy. The slogan of Help Banking is ‘Help the Helper and the Helpless’ that clearly describes the theme that do banking but in a manner to help the Helper and the Helpless.

I have a lot more but to save your precious time, an outline of this innovative model is as under:

  1. Reputed & Trustworthy NGOs / Welfare Organizations should establish ‘Help Banks’ under license of custodian banks, provided by Regularity Authorities / Central Banks.

 

  1. These ‘Help Banks’ should provide their services, especially to above mentioned amazing people who don’t want any extra return on their deposits and they just want Safe & Security Custody of their deposits / valuables, etc. ‘Help Bank’ should not use any asset of its clients even a single penny, without permission.

 

  1. In addition to the core functions of custodian banks like Safe & Secure Custodianship of Financial Assets (Cash, Valuables and Documents etc.) of an individual or a business entity, these ‘Help Banks’ should also use all advanced banking tools & technologies i.e. Branchless Banking, Mobile Banking, Internet Banking and a lot more that they can do for their customers.

 

  1. All types of income of ‘Help Banks’ for example, Deposit Maintenance Fee, Services Charges and all other income through various channels, should be based on the slogan i.e. ”Help the Helper and the Helpless”. Means, a certain ratio on income should be used, to cover the running cost of the bank and a certain ratio on income should be treated as Donation / Charity. Further, more Donation, more Charities from bank’s helpful clients should also strengthen ‘Help Banks’ / ‘Poor & Needy’. Hence, this motto should attract people positively, to come, do bank and help the helper (Help Bank) & the helpless (Poor & Needy).

 

All concerned all over the World, particularly the NGOs / Welfare Organizations are requested to please think over this Innovative Banking Model “Help Banking”, to end Poverty Alleviation, Globally…

(Note: You can further promote / share / publish this idea, with my name, at any media / forum / channel, for more Global Progress, Peace & Prosperity……)

Thanks for your valued time to watch / read this. Please subscribe / follow me, for more Amazing, Unique and Positive Material…

Idea By: Muhammad Asim – Global Progress Volunteer

https://pk.linkedin.com/in/muhammadasim1978

https://www.youtube.com/channel/UCp7jbstHLrSXjCT0AfmU4CA

https://www.facebook.com/GlobalProgressVolunteer/

https://globalprogressvolunteer.wordpress.com/

Mr. H & Mr. E

Mr. H is financially strong and he is having extra money. Whenever someone needy borrower comes to him and asks for any financial help in shape of a loan for business purpose, he never denies and always provides the required money to the needy borrower, on an agreement that borrower will pay back the ‘Actual Loan’ in time along with ‘Profit Share’ on the basis, how much profit is produced through the business. Upon agreed time, borrower pays back the Actual Loan along with Profit Share to Mr. H. Hence, a transaction completes between Lender and Borrower but what happens behind the scene, let’s see:

  1. Borrower comfortably performs business as he is not bound to share any unrealistic / fixed Profit Share with LENDER, hence BORROWER IS HAPPY.
  2. Lender effortlessly / timely receives his Actual Money along with Profit Share, hence LENDER IS HAPPY.
  3. Borrower, fulfills his requirements and pays any dues effortlessly / timely to other stake holders / participants of the business, hence ALL STAKEHOLDERS ARE HAPPY.
  4. All stakeholders, then further fulfill their requirements and pays any dues effortlessly / timely to other stake holders attached with them, hence OTHER STAKEHOLDERS ARE HAPPY.
  5. More particularly, borrower pays salaries to his employees, employees get their demanded salaries in-time, they fulfill their requirements particularly they feed their dependents / families / children, comfortably with respect to Food, Cloth, Place, Education and etc. Hence the NEW GENERATION IS HAPPY, THEY ARE WELL-FED, PRIVILEGED and LITERATE. These seeds will cultivate the crops of Happiness, Healthiness, Peacefulness and a lot more good things into societies.

The fact is not denied that without two things 1. Helping Attitude of Mr. H and 2. Honest Attitude of Borrower, this single transaction is not possible but it is also apparent that upon this single transaction how much amount of Peace, Progress, Prosperity, Poverty Alleviation, Purity, Power for everyone and Positiveness  are injected into Humanity / Economy, limitlessly.

 

Now talk about Mr. E, who is also financially strong and he is having extra money as well. Whenever someone needy borrower comes to him and asks for any financial help in shape of a loan for business purpose, he never denies and always provides the required money to the needy borrower, BUT on an agreement that borrower will pay back the ‘Actual Loan’ in time along with a Fixed ‘Profit Share’ without considering how much profit is produced through the business. Upon agreed time, borrower pays back the Actual Loan along with Fixed Profit Share to Mr. E. Hence, a transaction completes between Lender and Borrower but what happens behind the scene, this time, let’s have a look:

  1. Borrower uncomfortably performs business as he is bound to share a fixed Profit Share with LENDER, hence BORROWER IS SAD.
  2. Lender effortlessly / timely receives his Actual Money along with a fixed Profit Share, hence LENDER IS HAPPY.
  3. Borrower always thinks / prioritizes the Fixed Profit Share then thinks about other things. Borrower fulfills his requirements and pays any dues stressfully / untimely to other stake holders / participants of the business, hence ALL STAKEHOLDERS ARE SAD.
  4. All stakeholders, then further fulfill their requirements and pays any dues stressfully / untimely to other stake holders attached with them, hence OTHER STAKEHOLDERS ARE SAD.
  5. More particularly, borrower pays salaries to his employees, employees get their salaries lesser than their demands, they fulfill their requirements particularly they feed their dependents / families / children, uncomfortably with respect to Food, Cloth, Place, Education and etc. hence the NEW GENERATION IS SAD, THEY ARE HUNGRY, DEPRIVED and ILLITERATE. These seeds will cultivate the crops of Sadness, Illness, Violence and a lot more bad things into societies.

In this case only Lender is happy but all other stakeholders are effected and sad. Hence, Peace, Progress, Prosperity, Poverty Alleviation, Purity, Power for everyone and Positiveness are NOT injected into Humanity / Economy.

 

Without considering any Race, Religion, Region, type of economies and etc. if we compare above two scenarios on Humanitarian grounds, so ACCORDING TO ME, Mr. H (First Scenario) is on the right track that if EVERYONE along with FINANCIAL INSTITUTIONS follow this scenario so a Greater & True Economy can be built that will lead the Humanity towards Peace, Progress and Prosperity…

Empower Economy Instantly through ACTIVE Business Partnerships between Financial Institutions and Experienced Entrepreneurs / Skilled Persons……

To boost the economy of a Developing Country or to maintain a stable condition of an economy of a Developed Country, both require a consistent monitoring and rapid adaption of techniques in line with all kind of economy trends.

Having tough lessons from the history of the world’s poor economic conditions particularly last Economic Recession of the World, we the Whole World should be united and think over the better Tomorrow for the Whole World. Having same vision, an endeavor in shape of a HYPOTHESIS / IDEA is as follows:

OBJECTIVE

Banks & Financial Institutions should form ACTIVE Business Partnerships with Experienced Entrepreneur or Group of Entrepreneurs or Skilled Individuals or Group of Skilled Individuals, in any Industry.

ACTIVE PARTNERSHIPS?

Not like the Conventional / Inactive Partnerships between Financial Institutions that is based on Markup and Financial Institutions are not directly involved in the business activities of borrowers BUT in the Active Partnerships, Financial Institutions will have to WORK together with its Partner (not actually the borrower) in all business activities  as an ACTIVE PARTNER not on the basis of Markup BUT ON THE BASIS OF PROFIT SHARING.

FORMULA

Banks Funds + Partner cum Borrower = Good Business / Good Profits for both Partners

BENEFITS

–          More Business Activities

–          More Employment

–          More Prosperity

–          Lowest Risks of Bank’s Funds

–          Better and Safe Utilization of Bank’s Funds

 All concerned, particularly Product Development Officials at Financial Institutions are requested to please think over this HYPOTHESIS / IDEA that seems Small but is having Big Ambitions.