The LSE Access Route Qualification for J. Sifri
September 24, 2008
August 02, 2008
The Openning of our New Banking and Trade Finance Book Store
Powered by Amazon.com, we are delighted to announce that our new dynamic and secured book store is now open. The store exhibits a wide range of invaluable banking and trade finance books that offer a wealth of knowledge for professionals and academics. The elegant store takes our visitors to an ever exciting journey amongst its wide range of invaluable books which almost every one would like to have.
July 27, 2008
The Banking Forums
Banking is an independent and complete science in itself. It comprises of various branches the mastering of each of which requires a specialized academic study in addition to a long practical experience. To learn current accounts for example, the simplest of banking domains, a banker must study the local banking law, the commercial law in addition to the banks internal regulations and other operational requirements.
July 24, 2008
Standby Letters of Credit, A Comprehensive Guide
This authoritative reference book gives thorough, practical guidance for anyone who needs to deal with standby letters of credit either professionally or academically. Augmented with examples of numerous real-life cases, the book addresses the exact procedures undertaken by global banks in handling letters of credit transactions whilst incisively providing an article by article interpretation of the ISP98.
Continue reading "Standby Letters of Credit, A Comprehensive Guide" »
May 20, 2008
Crime without punishment: Special article: Russian organised crime
On 19August 1999, the Bank of New York (BONY), one of America's oldest, admitted to cooperating with an investigation into alleged money-laundering of as much as $10 billion. The paper-trail has touched several European banks too, all of which are said to have helped, over the past year, to move $4 billion from Russia to BONY's London office. As much as $200m that passed through BONY may have come from IMF loans to Russia. Most international banks have rules in place to detect and report money laundering. But in Russia, it is virtually impossible to tell whether money is earned legitimately. That is because crime is not at the margin of society: it is at its very center. Corrupt officialdom pervades the economy; organized crime pervades officialdom. The future depends partly on the mafia's own business planning, which is becoming increasingly sophisticated. The biggest worry for the rest of the world is not so much the prospect of a dismal, lawless future for Russia as of contagion outside its borders.
Continue reading "Crime without punishment: Special article: Russian organised crime" »
March 07, 2008
Standby Letters of Credit - A Comprehensive Guide
A Palgrave Macmillan Book
This authoritative reference book gives thorough, practical guidance for anyone who needs to deal with standby letters of credit either professionally or academically. Augmented with examples of numerous real-life cases, the book addresses the exact procedures undertaken by global banks in handling letters of credit transactions whilst incisively providing an article by article interpretation of the ISP98. Furthermore, the book also explains the credit operation cycle, the various parties to the credit transaction, types and uses -with special emphasis on tender and performance standby letters of credit, roles and responsibilities, risk management and fraud detection and prevention. This provides all the tools you need to deal not only with routine problems but also with unforeseen difficulties.
March 06, 2008
The Next Level: Middle Eastern Banks Seek Winning Strategy
For banks in the Middle East, setting the right strategy or altering the current one to take into account the changing and social environment is key to continuing growth. Achieving ultimate profit and overcoming risk-management challenges in 2008 requires an in-depth revision to adjust the fundamental elements of banks’ business strategy. In this second of a two part article, Yacoub E. Sifri explores what it will take for regional banks to find success in 2008 and beyond.
Continue reading "The Next Level: Middle Eastern Banks Seek Winning Strategy" »
February 12, 2008
Practical Letters of Credit Training Course for Merchants and Lawyers
JSCS announces the commencement of "The Practical Letters of Credit Training Course" for commercial companies, lawyers, transport companies and insurance companies. The course is run on weekly basis at "The Center of Science and Technology" in Amman.
Continue reading "Practical Letters of Credit Training Course for Merchants and Lawyers" »
2008 Strategies for Middle Eastern Banks
A Capital - ME Article, January 2008 Edition
Many Banks are now back to the 70s and 80s strategies of controlling costs to bring expense levels in line with lower expectations for revenue growth. However, preparing for success in 2008 onward will require more than efficiency gains.
Continue reading "2008 Strategies for Middle Eastern Banks" »
January 28, 2008
4.9 Billion Euro Fraud at Société Générale
Last week, France's second largest bank discovered one of its traders had violated the rules governing the trade in futures contracts on the European stock market, resulting in a US$7 loss for the bank.
Continue reading "4.9 Billion Euro Fraud at Société Générale" »
January 18, 2008
Standby Letters of Credit
The indubitable pivotal role of documentary credits in enabling a vast number of commercial and financial transactions has been the core subject of the esoteric work of many academics and professionals of international trade. It is almost always concluded that the sound application of the intricate provisions of the ISP98 and UCP is necessary to halt proliferation of arduous operational hazards that may well cause banks to collapse and could even result in severe economic damages at national levels.
December 18, 2007
The Analysis of Commercial Banks' Balance Sheet
Bank money consists of the credit balances of the accounts of customers of commercial banks. The total amount owing by the bank to its customers is the bank deposits. It is this bank debt which is used as money.
Continue Reading thie Article
December 01, 2007
Practical Standby LCs and the ISP98 - An In-house Training Course
JSCS Announces the Commencement of "The ISP98 Rules of Practice and the Standby Letters of Credit", an In-house training course for Letters of Credit Practitioners.
Continue reading "Practical Standby LCs and the ISP98 - An In-house Training Course" »
November 14, 2007
Promoting Strong Corporate Governance
September 18, 2007
The UCP600 in Theory & Practice
September 09, 2007
Incoterms and the UCP600 in Theory and Practice
In the year 2000, the ICC in Paris introduced their latest version of the International Commercial Terms which are the valid set of international rules for the interpretation of the most commonly used trade terms in foreign trade. The Incoterms are recognized by the United Nations Commission on International Trade Law as the global standard for such interpretation.
Continue reading "Incoterms and the UCP600 in Theory and Practice" »
September 08, 2007
The Right Set-Up for Going Global – Strategic Planning
Key Challenges for 2008 – Strategic Planning for Banks
Setting the right strategy or altering the current one to take into account the changing social and economic environment is key to a continuing growth. Achieving ultimate profit and risk-management challenges in 2008 requires an in-depth revision to adjust the fundamental elements of the banks’ business strategy. Commercial banks need to focus on five vital imperatives:- a. lack of relationship strength, b- Widening clientele base, c- optimize current portfolio whilst improving its quality, d- targeting service sector, e. intensify cross selling with a focus on trade finance products, and finally f. adopting a consultancy role.
Continue reading "The Right Set-Up for Going Global – Strategic Planning" »
August 11, 2007
The Tremendous Value of Sound LCs Technical Training in Banking
Continue reading "The Tremendous Value of Sound LCs Technical Training in Banking" »
August 08, 2007
Global Set-Up – Changing Environment and Strategy
Banks in the Middle East have long aspired to become major global players, so many of them have even started their own international operations in cities like New York, Paris, London and Geneva where sophisticated banks prevail.
Continue reading "Global Set-Up – Changing Environment and Strategy" »
July 27, 2007
Banking System in Jordan
The banking system is comprised of 13 commercial banks (of which five are branches of foreign banks), five investment banks, two Islamic banks and one industrial development bank, in addition to a number of specialized credit institutions. The Central Bank of Jordan (CBJ) is the banking system’s regulatory agency. The banking law, which aims at enhancing competition within the banking sector, was inaugurated back in 1999. The new law was intended to protect depositors’ interests and diminishes money market risk, while allowing free market forces greater influence. In addition, the CBJ has set a deposit insurance scheme, which is currently in force.
June 08, 2007
The Theory and Practice in UCP600 - New Book in Arabic
June 06, 2007
UCP600 in Theory and Practice - New Book in Arabic
The indubitable pivotal role of documentary credits in enabling international trade has been the core subject of our esoteric work for more than 15 years now. We concluded that the sound application of the UCP articles in day to day banking transactions is necessary to halt proliferation of arduous operational hazards that may well cause banks to collapse and could even result in severe economic damages at national levels.
Continue reading "UCP600 in Theory and Practice - New Book in Arabic" »
May 15, 2007
The Arab Academy for Banking and Financial Sciences Discredited
This week past, the Ministry of Higher Education in Jordan has discredited all degrees granted by the Arab Academy for Banking and Financial Sciences. Last week the Ministry announced in Jordanian Newspapers that the Academy has failed to provide its students with quality higher education. The Ministry claimed that the substandard education and professional training which bankers have been receiving at the Academy since quite a long time had contributed to the deterioration of the performance of the banking industry in Jordan. The Ministry reiterated that they will no longer sanction the Academy’s academic qualifications neither do they acknowledge the previously awarded ones.
Continue reading "The Arab Academy for Banking and Financial Sciences Discredited" »
April 02, 2007
Corporations
A. Definition and Nature of the Corporation
A corporation is a legal entity, chartered by the government, and separate and distinct from the persons who own it, giving rise to a jurist's remark that it has neither a soul to damn nor a body to kick". Nonetheless, it is regarded by the courts as an artificial person; it may own property, incur debts, sue, or be sued. It has three chief distinguishing features: 1. Limited liability (owners can lose only what they invest); 2. easy transfer of ownership through the sale of shares of stock; and 3. continuity of existence. Other factors helping to explain the popularity of the corporate form of organisation are its ability to obtain capital through expanded ownership, and the shareholders' ability to profit from the growth of the business.
March 15, 2007
Private Banking
During the 20th century and the start of the 21st, the Arab countries have turned into a hyper business arena where almost all global banks have located their finest resources in an attempt to beat the competition in securing higher shares of the Arabian markets. Private banking is an important part of this in the Gulf. A very large proportion of the total high net worth individual wealth in the Arab world is accounted for by the six Arab Gulf countries, most particularly Saudi Arabia, the UAE and Kuwait.
March 14, 2007
ATM Theft
If you use your ATM card constantly, beware of those new gangsters who use quite a devious technique to mug your money. Follow this link to watch how they do it.
March 07, 2007
Arab Bank refuses US accusation of channeling funds to 'terrorist' groups
By Agence France Presse (AFP)
AMMAN: Jordan-based Arab Bank, one of the largest in the Middle East, on Sunday dismissed allegations in the American press that it was involved in funding Palestinian groups that finance suicide bombers. A statement received by AFP said that a report by The Los Angeles Times "is false."
Continue reading "Arab Bank refuses US accusation of channeling funds to 'terrorist' groups" »
March 02, 2007
New Photos
The photos of the recent ME Trade and Finance Export Forum that was held at the Jumairah Beach Hotel in Dubai on the 6th and 7th of February 2007 are posted here. The Forum was attended by major corporates, professionals and scholars from all over the world.
February 09, 2007
ME Trade and Export Finance Forum
The Middle East Trade and Export Finance Forum, an event that is perceived by many corporates in our region as the most important academic and practical gathering on International Trade, was held at the Jumairah Beach Hotel in Dubai on the 6th and 7th of February 07. The spectacular event was sponsored by some of the world's leading corporates. The Chairman of the forum, Mr. Len Casley, the Senior Country Officer of the J.P. Morgan Chase appears in the picture with Mr. Vincent O'brien a top UCP600 expert, Mr. R. Kumar and Yacoub E. Sifri.
January 14, 2007
Retail Banking Operations
The past 10 years had witnessed a radical change in the methods by which major banks conducted their retail operations. The banks' focus was shifted towards creating an environment where their customers are served at the highest international standards. Customers' needs permeated all levels and functions in the bank.
January 04, 2007
Corporate Banking
Corporate Banking
Banks normally provide credit in the form of overdrafts, loans, bills discounted, or import and export finance. The process of extending any of the said forms to corporate borrowers passes through two distinctive phases; the credit decision making process (account relationship management) and the banks' internal operations.
January 03, 2007
Strategic Planning for Banks
The pace of change in the market, bank's size, bank's complexity, increased competition and sophisticated telecommunications are some of the key reasons why strategic planning for banks has become essential. In today's markets achieving a sustainable competitive advantage can only materialize through sound strategic planning. Without such strategic planning a bank will almost certainly diminish with time.
JSCS management experts produce Strategic Plans for banks, in three distinctive, yet integrated phases, specifically;
JSCS management experts produce Strategic Plans for banks, in three distinctive, yet integrated phases, specifically;