Non chex systems bank and Rants

Malaysia’s AmBank Group chairman Tan Sri Azman Hashim was honoured with the “Lifetime Achievement Award”, at the Fourth Annual Islamic Business and Finance Awards 2009 here, recently.

Also flying the Malaysian flag high was CIMB Islamic Bank which clinched awards in two categories, the Best Islamic Investment Bank and Best Islamic Retail Bank.

Gulf-based institutions and individuals scooped more than two-thirds of the trophies, or 19 awards.

The top prize of Best Islamic Bank went to the United Arab Emirates’ Dubai Islamic Bank for the second time. The bank had won this award in 2007.

Mohammed Sulaiman Al-Omar, chief executive of Kuwait Finance House, was named “Islamic Banker of the Year”.

Besides Malaysia, other winners were drawn from Pakistan, the United Kingdom, the United States, Australia and Luxembourg.

“The astonishing growth of the global Islamic finance industry is mirrored by the increasingly stiff competition for these awards,” said Nigel Rodrigues, chief executive of CPI Financial, publisher of Islamic Business & Finance.

The globally recognised awards were launched in 2005 and in response to the phenomenal growth of the Islamic finance industry, currently estimated at around US$840 billion in value and expected to pass US$1 trillion in 2010.

Held on Monday, the awards ceremony brought together around 300 distinguished regional and global industry professionals from around the world.

BURSA MALAYSIA: Shares Prices End Marginally Lower
Bernama – ‎2 hours ago‎

KUALA LUMPUR, Dec 16 (Bernama) — Share prices on Bursa Malaysia ended marginally lower on Wednesday as many investors either remained on the sidelines or …
BURSA MALAYSIA: Share Prices Lower In Early Session
Bernama – ‎10 hours ago‎

KUALA LUMPUR, Dec 16 (Bernama) — Share prices on Bursa Malaysia were lower in the early session Wednesday amid weaker market sentiment following losses on …
Sudden surge in key index stocks
Malaysia Star – ‎13 hours ago‎

By IZWAN IDRIS PETALING JAYA: The benchmark FTSE Bursa Malaysia KL Composite Index (FBM KLCI) rebounded and moved up more than five points yesterday, …

FBM KLCI Futures Close Mixed
Bernama – ‎Dec 15, 2009‎
KUALA LUMPUR, Dec 15 (Bernama) — The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures on Bursa Malaysia Derivatives closed mixed Tuesday …

BURSA MALAYSIA: Shares Prices Close Higher Led By Bluechips
Bernama – ‎Dec 15, 2009‎
KUALA LUMPUR, Dec 15 (Bernama) — Share prices reversed an earlier decline and closed higher Tuesday on Bursa Malaysia due to the last-minute buying of big …

BURSA MALAYSIA: Bursa Shares Mixed In Early Session
Bernama – ‎Dec 14, 2009‎
KUALA LUMPUR, Dec 15 (Bernama) — Share prices on Bursa Malaysia were mixed in the early session today as investors remained cautious over the global …

KLIBOR Futures End Lower
Bernama – ‎Dec 14, 2009‎
KUALA LUMPUR, Dec 14 (Bernama) — The three-month Kuala Lumpur
Interbank Offered Rate (KLIBOR) futures contracts on Bursa Malaysia Derivatives closed lower …

Bursa Shares Close Higher
Bernama – ‎Dec 14, 2009‎
KUALA LUMPUR, Dec 14 (Bernama) — Share prices reversed earlier losses to close higher on Bursa Malaysia led by selected blue chips and the bullish …

M’sian shares close up 0.4%
Business Times (subscription) – ‎Dec 14, 2009‎
KUALA LUMPUR – Malaysian shares closed up 0.43 per cent on Monday, in line with regional markets, as investors were boosted by a US$10 billion bailout for …

M’sia: KLCI ends 0.4% up
Business Times (subscription) – ‎Dec 14, 2009‎
KUALA LUMPUR – Malaysian stocks traded steady on Monday afternoon after news that Dubai World is to receive US$10 billion from Abu Dhabi. …

Bursa Closed For Public Holidays
Bernama – ‎Dec 13, 2009‎
KUALA LUMPUR, Dec 14 (Bernama) — Bursa Malaysia Bhd’s offices will be closed in conjunction with the year end public holidays. …
FBM KLCI Futures Mixed At Midday
Bernama – ‎Dec 13, 2009‎
KUALA LUMPUR, Dec 14 (Bernama) — The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures on Bursa Malaysia Derivatives ended the morning …
Bursa Shares End Morning Session Lower
Bernama – ‎Dec 13, 2009‎
KUALA LUMPUR, Dec 14 (Bernama) — Share prices on Bursa Malaysia ended the morning session lower on Monday despite gains on Wall Street and amid caution …
Malaysia: Stocks weaker at midday
Business Times (subscription) – ‎Dec 13, 2009‎
KUALA LUMPUR – The market eased on Monday as many investors and fund managers stayed away due to the year-end season. The key FTSE-Bursa Malaysia Kuala …
Bursa Shares Open Mixed In Early Trading
Bernama – ‎Dec 13, 2009‎
KUALA LUMPUR, Dec 14 (Bernama) — Share prices on Bursa Malaysia opened mixed in early trading Monday following a mixed set of leads from foreign markets, …

KLIBOR Futures Untraded In Early Session
Bernama – ‎Dec 13, 2009‎
KUALA LUMPUR, Dec 14 (Bernama) — The three-month Kuala Lumpur Inter-Bank Offered Rates (KLIBOR) futures contracts on Bursa Malaysia Derivatives were …
Palm eases on crude price drop

Business Times – Malaysia – ‎Dec 14, 2009‎
JAKARTA: Malaysian crude palm oil futures fell 0.7 per cent yesterday, after short-covering narrowed a loss of as much as 2 per cent due to a drop in crude …
Rangebound trade on KL bourse to continue
Business Times – Malaysia – ‎Dec 13, 2009‎
SHARES on Bursa Malaysia extended their consolidation last week, with most investors staying away ahead of the year-end holidays amid mild profit-taking inn …
FBM KLCI Futures Open Slightly Higher
Bernama – ‎10 hours ago‎

KUALA LUMPUR, Dec 16 (Bernama) — The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures on Bursa Malaysia Derivatives opened slightly …
KL shares extend downtrend
Business Times – Malaysia – ‎3 hours ago‎

Malaysian shares remained weak in lacklustre trade at midafternoon today on a continuous sell-off in selected bluechips, a dealer said. …
Bursa shares remain lower at mid-afternoon

The Malaysian Insider – ‎Dec 14, 2009‎
KUALA LUMPUR, Dec 14 — Share prices on Bursa Malaysia remained lower at mid-afternoon today on lack of leads, a dealer said. Losses in the market however …

Hudson City Savings Bank continues to offer competitive rates on its long-term internet CDs. The rates are down a bit since October but they remain competitive. The following are the rates as listed on its internet accounts page as of 12/09/09:

* 2.30% APY 24 month
* 2.80% APY 36 month
* 3.15% APY 48 month
* 3.40% APY 60 month

For more details you can go to online application, and click on the rates link in the product selection page.

A list of Recent CD Specials at Local Credit Unions and Banks.

* Alabama deals and CD rates
* Alaska deals and CD rates
* Arizona deals and CD rates
* Arkansas deals and CD rates
* California deals and CD rates
* Colorado deals and CD rates
* Connecticut deals and CD rates
* Delaware deals and CD rates
* District of Columbia deals and CD rates
* Florida deals and CD rates
* Georgia deals and CD rates
* Hawaii deals and CD rates
* Idaho deals and CD rates
* Illinois deals and CD rates
* Indiana deals and CD rates
* Iowa deals and CD rates
* Kansas deals and CD rates
* Kentucky deals and CD rates
* Louisiana deals and CD rates
* Maine deals and CD rates
* Maryland deals and CD rates
* Massachusetts deals and CD rates
* Michigan deals and CD rates
* Minnesota deals and CD rates
* Mississippi deals and CD rates
* Missouri deals and CD rates
* Montana deals and CD rates
* Nebraska deals and CD rates
* Nevada deals and CD rates
* New Hampshire deals and CD rates
* New Jersey deals and CD rates
* New Mexico deals and CD rates
* New York deals and CD rates
* North Carolina deals and CD rates
* North Dakota deals and CD rates
* Ohio deals and CD rates
* Oklahoma deals and CD rates
* Oregon deals and CD rates
* Pennsylvania deals and CD rates
* Rhode Island deals and CD rates
* South Carolina deals and CD rates
* South Dakota deals and CD rates
* Tennessee deals and CD rates
* Texas deals and CD rates
* Utah deals and CD rates
* Vermont deals and CD rates
* Virginia deals and CD rates
* Washington State deals and CD rates
* West Virginia deals and CD rates
* Wisconsin deals and CD rates
* Wyoming deals and CD rates

• FDIC Press Release
• Closed Bank: First Security National Bank, Norcross, GA
• Size: 4 branches, $128 million in assets, $123 million in deposits
• Possible Uninsured Deposits: All deposits transferred, except some brokered deposits
• Acquiring Bank: State Bank and Trust Company, Macon, GA
• Rate Changes: State Bank and Trust Company will review rates
• Estimated Cost to Deposit Insurance Fund: $30.1 million
• Financial Ratings: 1 star (lowest) at Bankrate.com, 0 star (lowest) at BauerFinancial

127th Bank Failure of 2009 (24th in GA)

• FDIC Press Release
• Closed Bank: The Tattnall Bank, Reidsville, GA
• Size: 2 branches, $49.6 million in assets, $47.3 million in deposits
• Possible Uninsured Deposits: All deposits transferred, excluding some brokered deposits
• Acquiring Bank: HeritageBank of the South, Albany, GA
• Rate Changes: HeritageBank of the South will review rates
• Estimated Cost to Deposit Insurance Fund: $13.9 million
• Financial Ratings: 1 star (lowest) at Bankrate.com, 0 star (lowest) at BauerFinancial

128th Bank Failure of 2009 (2nd in OH)

• FDIC Press Release
• Closed Bank: AmTrust Bank, Cleveland, OH
• Size: 66 branches, $12.0 billion in assets, $8.0 billion in deposits
• Possible Uninsured Deposits: All deposits transferred
• Acquiring Bank: New York Community Bank, Westbury, NY
• Rate Changes: New York Community Bank will review rates
• Estimated Cost to Deposit Insurance Fund: $2.0 billion
• Financial Ratings: 1 star (lowest) at Bankrate.com, 0 star (lowest) at BauerFinancial

129th Bank Failure of 2009 (20th in IL)

• FDIC Press Release
• Closed Bank: Benchmark Bank, Aurora, IL
• Size: branches, $170.0 million in assets, $181.0 million in deposits
• Possible Uninsured Deposits: All deposits transferred, except some brokered deposits
• Acquiring Bank: MB Financial Bank, N.A., Chicago IL
• Rate Changes: MB Financial Bank, N.A. will review rates
• Estimated Cost to Deposit Insurance Fund: $64 million
• Financial Ratings: 1 star (lowest) at Bankrate.com, 0 star (lowest) at BauerFinancial

130th Bank Failure of 2009 (1st in VA)

• FDIC Press Release
• Closed Bank: Greater Atlantic Bank, Reston, VA
• Size: 5 branches, $203.0 million in assets, $179.0 million in deposits
• Possible Uninsured Deposits: All deposits transferred
• Acquiring Bank: Sonabank, McLean, VA
• Rate Changes: Sonabank will review rates
• Estimated Cost to Deposit Insurance Fund: $35 million
• Financial Ratings: 1 star (lowest) at Bankrate.com, 0 star (lowest) at BauerFinancial

Bankrate’s and BauerFinancial’s ratings are based on 6/30/09 data

Hong Leong new unit-linked insurance plan that launch last Novemeber will end soon.Tomorrow 14 December will be the last day for those who want to take part into New Hong Leong Enhanced Oil Plan wagon.It’s a guaranteed dividend for one annual premium at the end of the first year.For details you can read about this Hong Leong Enhanced Oil Plan below for more understanding.

Guaranteed Dividends of 3.18%** or 1st year & 3.88%** for 2nd year

> Earn guaranteed dividends at the end of year 1 and year 2
> Earn additional non-guaranteed dividends of up to 21.2%* when the oil prices stay within specified price range
> Short policy term of 2 years
> Guaranteed 90% of total premiums back at maturity
> Life insurance protection

This offer is limited, so maximise your opportunity now!

Hong Leong Enhanced Oil Plan will be available from 23 Nov to 14 Dec 2009 only. For more information, call our Customer Service Centre at 03-7650 1288 or call your friendly HLA Agent.

* Terms and conditions apply. The total 21.2% non-guaranteed dividends are paid 4.6% at the end of first year and 16.6% at the end of second year of two annual premiums. These projected rates of total 21.2% are Non-Guaranteed; please refer to the Sales Illustration and the sample policy contract for details. This amount is also subject to USD/MYR currency exchange rate fluctuation.

** Payable at the end of the respective policy years as a percentage of Total Annual Premiums Paid, being One Annual Premium at the end of first policy year and Two Annual Premiums at the end of second policy year.

AmAssurance Bhd has launched a new system to cut down the turnaround time of the processing cycle and maximise productivity.

The RM21 million AmPowerLife System replaces the routine administration processes.

“Customers of AmAssurance can now expect a speedier and more efficient response from AmAssurance on any life insurance transactions which involves multiple process layers with the launch of AmPowerLife System today,” the company said in a statement.

It said this system upgrading project commenced in March 2008 and was fully deployed after 19 months of the implementation.

The project was divided into two main phases where the first phase covers all the investment-linked, universal life and medical products while the second phase involves traditional and credit-related products.

The second phase will commence in January 2010 and is expected to go live in March 2011.

Bernama

Finding the best rates for banks is not that easy.It needed a lot of research, knowledge and study.Perhaps people who already know, experience or working for banks knows more where to get best rates available to choose.However, for people who don’t know so much about bank rates would need some works before can decide anything.

When we are talking about research and studies, it means we need some tools.We need supports to help us to choose the best rates around.The most easiest and accurate source that we can use as tools is the internet.There a tons of information that some website or blogs provide to public.The best thing is, it was all you can get for free.

Here are some website portal that i found that might help you choose the best rates for banks.These are all considered a very helpful tools to choose the best rates for banks.Try it out!

1-http://www.bankrate.com/
2-www.bankrate.com/
3-www.bankbestrates.com/
4-http://www.bankaholic.com/cd-rates/
5-http://www.moneysupermarket.com/currentaccounts/
6-http://www.infochoice.com.au/banking/

A few days ago I came across an interesting article in response to a reader who claimed nearly 50 years have not been able to save a penny during the more than 20 years they have working in this country.

The most interesting part of it was that the answer to your concern was not entirely disappointing: Even approaching 50 years old with zero dollars in your bank account can still have a decent retirement. But how?

The answer was clear: we have to start saving but! If you’re getting close to 50 years old and have a steady job, you may still remain some 10 years in active employment. This means that if you can even save about $ 250 every month for the next ten years could have a cushion of about $ 43,000 at the end of that period (considering a return rate of 7% if you put it into an IRA or a 401 (k )

Now if you can increase that amount to, say, $ 500 each month would end up with about $ 86,000, which already is not bad for a retirement more or less manageable. The secret here is always, always, think of saving as much as possible, and although returns are not so generous, remember it’s better to have a financial cushion (albeit small) that have nothing to back you up.

As the Government came forward pricing, have met their forecasts of inflation back into positive territory by year-end, since it is up 1% to place last November’s CPI at a rate of 0.4%.

After eight months of continuous declines, inflation has been reset to positive, so that at present this data will remove the fear that he planned economy in Spanish about a possible deflation, a widespread and continuous fall in prices of goods and services seems to be something that will not occur.

The reasons for this rise in the CPI must be sought outside we’re in a seasonal period where traditionally often go up also because the price of oil has risen over the last year because in November 2008 was priced at $ 54 and is now almost $ 80.

Inflation

It is also noted that pensioners for the first time since 1998, the State does not compensate this group with a bonus in January, the pay was produced by the deflection suffered prices on the rise in expected pension by the Government.

So in this case, pensioners have benefited because their pensions increased by 2% since early this year, while prices only 0.4%, so their purchasing power has been theoretically increased by 1.6 %.