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Many Peoples including businessmen get credit cards more then one from different banks and then use them without caring the payments dates. this lead to a very heavy interest on them. to pay those interest they have to take another credit card, and this circle goes on. i saw many people who failed to pay their credit cards payment on time and that reach to a big pile up. they then seek load from banks to pay the credit cards. and sometime they have to withdraw the capital investment from their business to pay the debt or interest. which clearly mean sucking the blood out of business. this point to another disaster around the corner. The government need to take immediate action and put some measures for it. otherwise it will grow up to a cancer without cure.
In fact, there must be strong oversight on credit card transactions, because these transactions are double-edged sword, it may be useful and could be very harmful
Those who know how to manage funds and credit cards should ONLY use it effectively. Otherwise as said it is a Debt trap and immediately cancel all the credit cards because the interest get compunded on principal amounts. In UK no credit cards for students, Qatar mandated to issue cards only those who transfer their salary.....one bank one card. Now more banks to follow these trends
credit card and loan LIMITS must be highly considered and electronically adjusted by the company, which the individual signed a paper contract to allow it, including monitoring and alerts suggesting excessive use. clearly this loan and money providing as much as they god damn want isnt working so well. again, LIMITS... that are electronically adjusted and... an app.. an app must be made for staff only, the app will provide information and alerts and instantmessaging thats encrypted features which are to be the only electronic use of communication for staff (i know im drifting off topic) however as i previously said... not gona say it again.
BANK LOAN:
From the bank's stand point more loan more revenue generation, therfore banks using every catalyst to sanction loans to their customers. But Central Bank put restrictions on free lending of loan to circumvant following mal practices, such as:
Precautions/Care
a] To combat these practices Basel reforms (I, II & III) are come into play, which induce banks and financial institutions to keep enough reserves (capital adequacy ~3 times to loan ratio) with them in case of defaults from lenders to safe guard interest of depositors funds and bank's own reserves, granted by Central bank in terms of sub-ordinated loans.
b] Banks should follow strict lending conditions imposed by the central bank.
c] Bank should also conduct strict credit rating of their customers while sanctioning of loans
d] Limit should be imposed by the bank itself, on extra lendings to same lender and also have strict monitoring measures on bad influences of black sheeps with greedy businessmen.
e] Government should introduce Shaiah Compliance Banking System to crub mal-practice of all gambling and illegal businesses.
f] Strict monitoring and control on foreign exchange transactions and also put strict check on foreign exchange transaction and circulation of fake notes of, local as well as foreign, currency.
CREDIT CARDS
Credit cards are only issued to salaried or business class people who have proper bank accounts, with prior movement of funds of atleast a year or so
Banks should also have proper control on credit card lending and issuane of more than one credit card to same person.
bank loan is used as a liver in economy and may be a risk
I am anti interest-based loans and interest bearing credit cards as they are not Shar^ah compliant because of the Riba (usuary) nature of those transactions. Hence there will be no blessing in any of those transactions and the financial consequences will be devastating even for those who manage to pay off their loans and their credit cards while paying those forbidden interests. My advice is to live within your means and if you need to take a loan, take an interest free loan from a friend or a family member. Don't let the extravagances of life push you to loose both financially and religiously.
Simply the banks are at fault. There seems to be no national agency that govern credit worthiness in your country and therefore the ability for businessmen or consumers to freely attain credit is largely based on the banks wanting their product in their clients pockets without regard to payment. However, it seems highly unlikely that there isnt a system to track the amount of debt a businessmen from bank to bank
Please reformulate your question
هل تحتاج لمساعدة في كتابة سيرة ذاتية تحتوي على الكلمات الدلالية التي يبحث عنها أصحاب العمل؟