Assignment

Course: Principles of Banking & Insurance

Course code: FIN 3337
Submitted to
Shakila Aziz
Asst. Professor
Dept. of Finance
SOBE, UIU

Submitted by
Md. Musaddiq khan
ID: 111 142 021
Section: B

Submission Date: 23-03-2019

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 Contents
Insurance....................................................................................................................................................... 3
Cryptocurrency ............................................................................................................................................. 4
Banking Ethics ............................................................................................................................................... 6
Financial Inclusion ......................................................................................................................................... 8
Conclusion ..................................................................................................................................................... 9
References ..................................................................................................... Error! Bookmark not defined.

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 Insurance
01: What is the potential for natural disaster insurance in Bangladesh?
Bangladesh is a standout amongst the most vendible nations on the planet to floods and violent
wind, explicitly in the nation's waterfront Sites. Cyclones and related tempest floods and floods
have prompted practically all the about 520,000 catastrophic event passing spared in the course
of recent years. These occasions
additionally can possibly cause genuine
financial harm.
Indeed, even there have some other
disaster like draft, earthquake, cyclones,
floods, and dry season, tsunamis and so
forth, etc. More than 70% of the populace
is conceivably presented to floods,
earthquakes, dry seasons and over 80% to
cyclones. By and large, the nation
encounters serious tropical twister each multi year, and about 25% of the land mass is splashed
with flood waters each year.
According to recent study from 2000 to 2013 shows Bangladesh cost more than $10 billion
economic losses due to natural disasters but only $2 billion risk financing was available. So, it is
high time we restructured the natural disaster insurance system. Otherwise, this great potential
can’t be utilized.
Bangladesh's financial condition is expanding step by step. One of the essential prerequisites for
this improvement is Natural Environment. At whatever point we consider common habitat then
as a similar we need to consider diverse disaster chance. In light of this characteristic dangers the
general population of this nation need to make numerous vital strides all things considered I
figure Natural disaster insurance can assume a fundamental job in this disaster inclined nations
just as it can spare the People of this nation from various major and huge disaster. (ILO, 2005)
On the off chance that we consider the disaster insurance in this nation, at that point we can see
the utilization of Disaster insurance to repay against misfortunes brought about by serious or
calamitous cataclysmic event is just barely developing. The point of Natural Disaster insurance is
to furnish low-salary family units and organizations with effectively available and reasonable life
and medical coverage just as insurance to cover the loss of little scale resources, animals, and
yields in case of a flood, hurricane, or other common disaster. The practicality of disaster
insurance for poor families and organizations. The disaster chance administration network sees
Disaster insurance, in the event that it demonstrates suitable, as a component of a more
extensive, incorporated disaster hazard the board structure including hazard decrease, disaster
readiness, and hazard exchange.

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Insurance does not assuage a definitive impact of disaster; however it does supply compensation
against misfortunes. As of late another insurance plan in Bangladesh by an insurance
organization with assistance from Non-Governmental Organizations (NGOs) demonstrated
would like to needy individuals in flood-inclined Bangladesh. This is an image conspire.
Bangladesh has far to go to get funds under insurance inclusion from catastrophic events
(AIDMI, Transferring hazard through miniaturized scale insurance and employment alleviation,
2005)..

Cryptocurrency
02: What is the market size of crypto currency in the world and which countries are
adopting and accepting crypto currencies?
Crypto Currency:
A crypto currency is a digital resource
constructed to work as a medium of trade that
uses powerful cryptography to impermeable
economical transactions, monitoring the
creation of extra units, and prove the exchange
of assets. Crypto currencies use decentralized
control as against to and central banking
systems and centralized digital currency.
Market size of crypto currency in the world:
The market measure is presumably not the
most exact depiction of a crypto currency's
value yet it's unquestionably essential and this
gauge depends on their market top.
Crypto currency showcase evaluation is
foreseen to hit $1 trillion this year. The market
top of crypto currency appears to simply rise.
Despi te the fact that a portion of the single
ones are falling yet aggregately, the market
top appears to rise year-on-year.
As indicated by the CEO of Kraken, Jesse Powell, in the remainder of the long stretches of 2018,
crypto currencies would see increment development. They would probably dismantle once again
from the base to new highs. As indicated by him, there are numerous organizations rotating
around crypto currencies now. Additionally, there are numerous individuals up to date how of
crypto currency is presently. This would move the whole crypto currency market to cross a
valuation of $ 1 trillion. (Crypto currency)

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Which countries are adopting and accepting cryptocurrencies:
1. Japan
One of the largest developing technology markets in the world, Japan had to legitimize crypto
currencies. The country’s government has set up a Payment Services Act based infrastructure
which allows some crypto currencies and a number of trade to be used for payment and trading
reasons. Japan is now widely contemplating a hub for crypto currency exchange in Asia.
2. United States
The US government, in 2013, approved bit coin as a decentralized virtual currency that can be
used for accomplish transactions. It was serial as a material by CFTC in September 2015.
3. Germany
Germany is one of the European country that not only accept crypto currencies but are also
actively associated in the development of block chain solutions. Germany has completely
legalized bitcoin allowing citizens to trade and transfer in this coin.

4. Canada
In August 2017, Canadian govt. accepted Impact Coin as its first legitimized crypto currency.
The Quebec regulation force had previously legalized bit coin for some limited business models
including ATMs and exchanges.
5. Belarus
Crypto currencies legalized in Belarus. The Decision was taken with the aim to impose the
development of a economy. As per the information, crypto activities will be totally tax free.

6. Holland
Holland recently approved cryptocurrency policy. There is a special area, called “Bit coin City”
in Holland where all the bit coin transactions including trading, retail purchases and business are
Totally approved.

7. Singapore
In Singapore trading and the use of bit coin and other virtual currencies are legal, but the
government doesn’t handle the price of these currencies. Crypto currencies, by nature, are
supposed to be unregulated. (crypto Currency)

These all about the crypto currency. By using this systems and policies world trading systems is
much easier than previous time. That’s all about it.

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 Banking Ethics
03: Risks that come from the Use of technology in the Banking Industry.
WHAT IS TECHNOLOGY RISK?
Technology risk emerges from the utilization of PC frameworks in the everyday lead of the
bank's activities, compromise of books of records, and capacity and recovery of data and reports.
The risk can happen because of the decision of flawed or inadmissible technology and
appropriation of untried or out of date technology. Banks are confronting more prominent
dangers from quick changes happening in the innovative frameworks material to budgetary
administrations.

Risks that come from the use of technology in the Banking:

Banking industry has expanded the information technology risks. The upheaval of electronic
mechanisms for giving administrations off-site has added another measurement to their risk.
Electronic banking administration bears an abnormal state of specialized risk, since it includes
visit control of the PC projects and enhances compulsion on the merchants for framework plan
and continuation.

Banks need two locales for giving Internet administration to their clients - one website for
sending of information about items and administrations to the general population, and other
webpage for use by clients for arranging the business from their space.

The utilization of charge cards and Visas has expanded the technology risk. Fundamentally those
sorts of banks who really assume a major job in the financing area those sorts of banks require
information stockpiling, information preparing and recovery frameworks.

Software Programming System introduced by banks is fit to programming blunder. Also, there
can be logical inconsistency between various projects relevant to various fields of activity.
Mistakes in the utilization of projects may emerge because of the absence of commonality of the
staff with the projects and absence of information about the territories in which these projects
can be utilized. At the point when change of the current software framework is initiated, there is
risk of control of the framework, which may improve execution of extortion at a later stage.
Program risk likewise emerges because of the likelihood of unintentional revelation of client
information's or the banks' mystery business information to informal people, which can prompt
misrepresentation, legitimate debate, and loss of notoriety.
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Innovative computerization framework has supplanted number of occupations in banking
segment. An considerable lot of the representative losing their employment due to this robo-
tization framework.

Indeed, even through technology banks face digital assault and by this assault a large number of

information is missing by bank and losing information also. (Children, 2012) I think these are the
principle risks that originated from the utilization of technology in the banking business. That is
the reason we need to much mindful a cognizant even we need to take distinctive essential stems
and control framework to secure this risks.

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 Financial Inclusion
04: How is Mobile technology changing the role of banks in the world?
Mobile technology has changing the role of banks in the world. In banking sector mobile
technology is changing the way people handle their finances and the way for the future banking
system. Mobile technology runs to offer paths to help the banking sector move towards a more
customer-centric business. With the increase of mobile-banking between customers and their
digital expectations, retail banks need to reconsider their traditional business strategies. Now we
talk about this.

Less queuing

present era Mobile technologies has major impact on the role of Banks.
It's easier to do all the things online, from easy transactions to complex
issues such as mortgage. people are keeping on their phones to enter their
banking, is sure to be a focus for high path banks in the upcoming times.
Some of the banks are now only available virtually - banks even the don’t
have any physical branches at all.

Instant tap and your okay

Mobile first provide contactless cards for customers to use at their

gas stations in the American country as early as 1997, the first
contactless cards associated with banks were given out by
Barclaycard in 2008. Now over 32 million in movements in the UK.
By 2011, mobile technology had incorporated with contactless, and
the first wave of apps that allowed their owners to pay by tapping
the phone.

Data protection& security

Taking financial information safe is one of the biggest sites of

investment for banks.
Easy passwords and computers are some of the most common
ways we are separated from our money.

Block chain

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Block chain technology has the prospective to have a great influence on the financial industry
and central banks all around the world are inquiring use cases, from payments to inaugurating
digital currencies.

Although block chain hasn’t yet been locate by every bank or e-commerce industry, this
technology is obviously raising on the minds of most organization in this space.

Digital Cheque:
Some of the more traditional banking systems are set to obtain a digital update. Smartphone
cheque already greatly used in the US- is set to hit Britain with Barclays and Lloyds trialing the
tech, allowing transaction information to be accepted digitally using by a mobile technology.
(Mobile Technology and the role of bank)

Conclusion
Mobile Technology has changed rapidly in banking sector in current world. With the help of
mobile technology now bank can play and perform very different role and complex situation at
the very earliest time.

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 Reference

Bibliography
(n.d.).

AIDMI. (2005). Transferring risk through micro insurance and livelihood relief. Best Practice case studies .

AIDMI. (2005). Transferring Risk through Micro-imsurance, Micro-credit. best practice , 21.

crypto Currency. (n.d.). Retrieved from https://coindoo.com/top-countries-where-cryptocurrency-is-

legal/

Crypto currency. (n.d.). Retrieved from https://blog.sagipl.com/legality-of-cryptocurrency-by-country/

hgvgujv. (2005). v h. hgvu , 21.

https://reliefweb.int/organization/cred. (2019, march 22). reliefweb. (s. India, Editor) Retrieved jan 22,
2018, from reliefweb: https://reliefweb.int/report/bangladesh/decoding-monsoon-floods-bangladesh-
india-myanmar-and-nepal

ILO. (2005). Micro-Insurers. Inventory of Micro-Insurance Schemes in Bangladesh.

Jimmy, K. (2005). Transferring Rist Through Micro-insurance, Micro-credit and livelihood relief. Best
Practice Case Studies , 21.

Mobile Technology and the role of bank. (n.d.). Retrieved from

https://thefinancialbrand.com/77869/innovation-trends-banking-ai-api-personalization-payments/

Sons, A. G. (2012). Managing Risks in Commercial and Retail Bankingby .

www.quora.com. (n.d.). Retrieved from https://www.quora.com/What-is-the-Impact-of-technology-in-

banking

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