what is the "bank-owned life insurance - bOLI"?
Category: glossary by X. G. From Provo, United States
"bank-owned life insurance - bOLI " is A form of life insurance purchased by banks where the bank is the beneficiary, and/or owner. This form of insurance is a tax shelter for the administering bank, as it is a tax-free funding scheme for employee benefits. Banks use BOLI contracts to fund ever-increasing employee benefits at a much cheaper rate. The process works like this: the bank sets up the contract, and then makes payments into a specialized fund set aside as the insurance trust. All employee benefits that need to be paid to particular employees covered under the plan are paid out from this fund. All premiums paid into the fund, as well as all capital appreciation, are tax free for the bank. Therefore, banks can use the BOLI system to fund employee benefits on a tax-free basis.
please define an "outward direct investment - oDI"
Category: glossary by Justice A. From Limoges, France
A business strategy where a domestic firm expands its operations to a foreign country either via a Green field investment, merger/acquisition and/or expansion of an existing foreign facility. Employing outward direct investment is a natural progression for firms as better business opportunities will be available in foreign countries when domestic markets become too saturated. The increase of a nation's outward direct investment can be seen as a proxy that the nation's economy is booming to the extent that sufficient risk capital is available for further ventures. For example, in the 1990s foreign firms entered China and gave a large influx of foreign capital into the Chinese economy. As a result of subsequent economic activity in the years to come, China's economy flourished to the point where Chinese companies now engaged in large scale outward direct investments. In fact, in 2005 Chinese companies spent over $6.9 billion in ODI.
Which foreign exchange platform has got a secure server connection?
Category: technical by F. Bryant from Downey, United States
We think the best place for your purpose is "Finexo Ltd.". Surfers are always excited with trying to connect to the system's program. It is pretty a piece of cake to install the forex platform, the communication with the server is stable. Also, you'll see non of many of the normal login disruptions you frequently get to deal with using large servers.
what is a "chattels"?
Category: glossary by A. Boyd from Escondido, United States
"chattels " is A term used in wills which refers to the personal possessions of the maker of the will. Such items would typically be jewellery, furniture, books, tools and private motor cars etc.
do you know what the "abandonment clause" is?
Category: glossary by T. U. From United States
A clause in a property insurance contract that, under certain circumstances, permits the property owner to abandon lost or damaged property and still claim a full settlement amount. If the insured party's property cannot be recovered, or the cost to recover or repair it is more than its total value, it can be abandoned and the insured party is entitled to a full settlement amount. This type of insurance clause typically comes into play with marine property insurance, such as boats or watercraft. If a property owner's ship is sunk or lost at sea, the abandonment clause affords the owner the right to essentially "give up" on finding or recovering his or her property and subsequently collect a full insurance settlement from the insurer.
what is a "friendly takeover"?
Category: glossary by Kamryn X. From Tampa, United States
A situation in which a target company's management and board of directors agree to a merger or acquisition by another company. In a friendly takeover, a public offer of stock or cash is made by the acquiring firm, and the board of the target firm will publicly approve the buyout terms, which may yet be subject to shareholder or regulatory approval. This stands in contrast to a hostile takeover, where the company being acquired does not approve of the buyout and fights against the acquisition. In most cases, if the board approves a buyout offer from an acquiring firm, the shareholders will vote to pass it as well. The key determinant in whether the buyout will occur is the price per share being offered. The acquiring company will offer a premium to the current market price, but the size of this premium (given the company's growth prospects) will determine the overall support for the buyout within the target company.
please tell me what an "Islamic financial services board" is
Category: glossary by Amara N. From United States
An international organization that issues guiding principles and standards within the banking, insurance and capital market sectors in order to promote stability in the Islamic financial services industry. The ISFB consists of: The general assembly, which includes all members of the ISFB The council, which acts as the policy making body of the IFSB and includes the senior executive of each full member of the organization The technical committee, which advises the council on issues and consists of up to 15 persons appointed by the council The working group, which drafts standards and guidelines and reports to the technical committee The secretariat, which acts as the permanent administrative body and is headed by a secretary-general appointed by the council Based in Kuala Lumpur, Malaysia, the IFSB began operations in early 2003. The IFSB issues standards and principles in the areas of capital adequacy, corporate governance, risk management and transparency, among others. The goal of the IFSB is to promote the awareness of issues that could have an impact on the Islamic financial services industry. It issues Sharia-compliant standards, holds conferences and seminars, and provides guidance and supervision, among other initiatives.
please tell me what "revoked iRA" is
Category: glossary by T. Q. From United Kingdom
the "revoked iRA " is An IRA holder may revoke an IRA within the 7 days after the IRA is established. When an IRA holder elects to revoke the IRA, the full amount contributed to the IRA must be returned to the IRA holder. When an IRA is revoked, no fees or losses can be deducted from it by the financial institution.
what is the "dividend discount model"?
Category: glossary by Desmond T. From United States
"dividend discount model " is A procedure for valuing the price of a stock by using predicted dividends and discounting them back to present value. The idea is that if the value obtained from the DDM is higher than what the shares are currently trading at, then the stock is undervalued. This procedure has many variations, and it doesn't work for companies that don't pay out dividends.
please define "no claim bonus"
Category: glossary by P. W. From Lexington-Fayette, United States
A bonus which is awarded to a policy holder when no claims have been made on an insurance policy during the period of insurance, usually one year. The bonus is subsequently applied to reduce the renewal premium. The motor insurance business uses this appr