What is Amazon Amazon is a multinational technology company based in Seattle, Washington. It is best known for its online retail platform that offers a wide range of products including books, electronics, clothing and more.  In addition to its retail business, Amazon also offers a variety of other services such as cloud computing, artificial intelligence, and streaming media. The company was founded in 1994 by Jeff Bezos. History of the Amazon Amazon was founded in 1994 by Jeff Bezos in Seattle, Washington. The company originally started as an online bookstore, but quickly expanded to sell a variety of products. In 2002, Amazon introduced its line of consumer electronics, including the Kindle e-reader in 2007 and the Echo smart speaker in 2014. In the late 2000s, Amazon began expanding its business into cloud computing services through Amazon Web Services (AWS). This has become an important source of income for the company. In addition, the company has also entered other ar...

What is the role of IT in banking The role of IT in banking is to support the efficient and secure operation of financial institutions by automating and streamlining processes, managing and analyzing data, and providing access to banking services through digital channels.  Examples of IT systems used in banking include  online banking portals,  mobile banking apps, and automated teller machines (ATMs). Additionally, IT systems are used for back-office functions such as risk management, accounting, and compliance. Online banking portals Online banking portals are web-based programs that let users access their bank accounts and carry out many types of financial transactions online.  These portals often offer a variety of services, including  access to account information and transaction history, bill payment and administration, money transfers,  account information. Additionally, they offer a safe means for clients to examine account balances and transactio...

Commercial Bank Definition What is commercial Bank A commercial bank is a type of financial institution that offers a wide range of services, including accepting deposits, making business loans, and offering basic investment products.  They make money by charging interest on loans, and offering financial products and services to customers. They also generate revenue by charging fees for account maintenance and other services.  Commercial banks are typically for-profit organizations that are owned by shareholders. They are regulated by government agencies to ensure the safety and soundness of the bank and to protect consumers. Functions of commercial Bank Commercial banks perform a variety of functions to serve the financial needs of their customers. Some main functions of commercial banks include: Accepting deposits: Commercial banks accept deposits from customers in the form of savings accounts, checking accounts, and certificates of deposit. These deposits are used to fund...

Pakistan had only three weeks' worth of import coverage in its foreign exchange reserves as of January 6, according to data released by the central bank on Thursday. The State Bank of Pakistan (SBP) stated in a statement that the decrease was brought on by repayment of foreign loans. According to the bank, commercial banks maintained net foreign currency reserves of $5.8 billion and total liquid reserves of $10.1 billion. Pakistan's import cost for products was $5.1 billion each month in both November and December, according to the Pakistan Bureau of Statistics, despite recent government efforts to reduce imports. The primary imports are essential fuels for the energy sector. The nation is now experiencing a serious cash shortage. The local currency has already been significantly undervalued in comparison to the US dollar and other major currencies due to the declining reserves. The most concerning issue for the coalition government led by the PMLN that faces a real default ris...

Capital One offers an impressive range of credit cards for a variety of financial needs including cashback, travel, business, and credit building. If you do most of your banking online, you'll enjoy the digital account management that Capital One credit cards offer. Here's a look at the best cards available from credit card , Capital One. Capital One Quicksilver Review: The Capital One Quicksilver Cash Rewards Credit Card is a great option if you value the simplicity of earning a flat rate on all your purchases. R eceive 1.5% cashback on almost every purchase without having to remember a number of bonus categories or keeping track of spending limits.  The card also offers other attractive perks, including a solid sign-up bonus, a 0% APR introductory period, and low fees. And if you don't mind managing multiple cards, you can combine it with a tiered reward or rotating  bonus card to maximize your earnings.  However, there are a number of flat rate cards on the market t...

Are you looking for a solution to your credit card debt problem?  First of all, take comfort in knowing that you're not the only one struggling with the problem of credit card debt. There are hordes of people who might have an even worse credit card debt issue  compared to you; They are all trying to eliminate the issue of credit card debt.  So what is the solution to the problem of credit card debt?  Well, the solution really is to smash the credit card debt problem full force and eliminate it completely. Well how do you do that? There are many ways you can tackle the credit card debt problem.  Different people suggest different ways to tackle the problem of credit card debt. However, here is a simple step-by-step guide on what you can do to get rid of credit card debt problem. 1. Take stock, i. H. create a table with the following fields -  Credit Card Name,  Balance,  Due Date (the day of the month by which you must pay your credit card bill),...

What is a credit card?  Simply put, a credit card is just a small piece of plastic that fits easily in your wallet. Well, it's not 'just a piece of plastic'; it is a compelling piece of plastic that can be considered a compressed form of money.  We can define credit cards as a credit system that allows the consumer to borrow money from a bank or financial institution and use it to make payments to merchants.  To get a credit card,  The consumer has to fill out an application form, which is actually like an agreement between the credit card supplier and the credit card consumer. The credit card provider approves the application form and provides the consumer with a small piece of plastic (i.e., the credit card).  This plastic (or credit card) contains electronically encoded security information in the form of a magnetic stripe (which is usually located on the back of the credit card). This information is used to authorize payments each time the customer uses the ...

Chase Online is an online banking platform that allows you to manage your finances from anywhere in the world. With Chase Online, you can access your bank accounts, pay bills, transfer funds, manage investments, and more.  Plus, you can also securely access your accounts 24/7 and get help when you need it with Chase customer service. With Chase Online, you can have the convenience and security of banking from anywhere. Here are some important questions and answers about chase online. How do I create my Chase account online? How do I access my Chase account online and How do I access my account information and activity?  What is the minimum balance to open a Chase account?  Can a non US citizen open a Chase bank account? How much is Chase monthly fee? How much can I withdraw from Chase ATM? How do I create my Chase account online? To access your Chase account online, first you need to create an online profile.  To do this, visit the Chase website and click on the ‘...

Accountants are the backbone of the entire economy—without their work, companies would collapse. They keep track of cash flows, so people know how much to spend and help executives plan ahead.  The best accountants also have the best financial certifications to train them on how to do anything. It doesn't matter whether they manage and help grow wealth or track global spending.  There are certifications to prepare accountants for any type of job and to help them achieve anything they want with their finance career. All they have to do is apply to a program that prepares them for it and then pass the test.  However, testing for the best financial certifications is never easy. To become an accountant working with some of the biggest companies, you need to be persistent, demanding and focused. Otherwise, your place can go to someone else. Read below to learn what certifications you should aim for and how to get them.  1. Become a Chartered Certified Accountant for Globa...

Investment banking is one of the most profitable areas in the financial industry. In 2022, investment banks made over $39 billion in sales, just in the US. If investment banking sounds like a foreign language to you, then you are not alone.  This high-stakes industry continues to amaze even banking professionals with its complexity, despite salaries hovering around $140,000 per year. It's no surprise that so many people dream of becoming Wall Street's next wolf, others are just curious about how this glamorous industry works.  Unfortunately, it's not all yachts, nightclubs and champagne, the job itself is extremely stressful, and some investment bankers work more than a hundred hours a week,  so what is investment banking, why is it lucrative, and how are investment banks different from commercial banks? Before we explain how investment banking works, let's turn back the clock to see how it all began with commercial banks in the United States in the early 19th centur...

LONDON—Global oil prices plummeted on Wednesday amid concerns over demand in China, and European gas prices fell to their lowest levels since November 2021 as mild winter weather reduced demand.  Crude oil prices extended losses from the previous day, falling around 5% on worries about demand from the world's largest oil importer China amid a sharp rise in COVID-19 infections in the country. “While reliable data appears to be hard to come by, the view seems to be that there will be significant disruption in the coming months and then a rebound from around mid-year, which should then boost demand,” said Craig Erlam, Sr Market analyst at the trading platform OANDA.  Analysts also pointed to the mild European winter and a rebound in the dollar making crude oil pricier for holders of other currencies. At around 1600 GMT, a barrel of WTI for February delivery fell 4.9% to $73.15 a barrel and the main European contract, Brent for March delivery, was down 4.9% to $78.11.  Mean...

Digital banking is rapidly becoming the norm in the banking world, as it offers customers a convenient, secure and fast way of banking. With the increasing popularity of digital banking, more and more banks are offering digital banking solutions to their customers.  By using digital banking, customers can transfer funds, check their accounts, pay bills, and purchase products and services online. Furthermore, digital banking also offers customers access to various financial services, such as applying for loans, investing in stocks, and purchasing insurance.  Digital banking also offers customers the ability to track their finances and manage their budget, allowing them to make well-informed financial decisions.  As digital banking continues to become more popular, banks have been forced to keep up with the increasing demand for digital banking services.  Banks have developed sophisticated security measures to protect customers' financial data, providing them wi...