Banking Tips

Nasreen Sattar Senior Business Development Manager Standard Chartered Bank

Q. The Modern age is the period of business and technology. In the business arena banking is playing a pivotal role especially in the export and import business. It is to be mentioned that business is valid in Islam but interest is prohibited. In our country Islami Bank is announcing that it is doing interest-free banking. To what extent it is correct and how can we judge the correctness?
Mohammad Bazlur Rahman

A. Dear Mr. Rahman
Islami Banks in our country are doing Islamic banking as per 'Islamic Sharia'. Yes, it is correct that they don't charge any interest. It is based on profit sharing.

Q. Can I encash my Shanchaya Patras (Govt. Bonds) before maturity? I need the funds urgently as my daughter is getting married.

A. Yes, you can encash them at any time. However, if you encash before completion of one year, no interest will be paid to you. If encashed any time between one year till maturity, you will be paid a discounted rate (reduced rate) of interest from the initial contracted rate. In such cases interest rate will also vary depending upon the time elapsed from the date of issuance of the bonds. For example, if you want to encash them after one and a half years you will get interest for only one year.

Q. How can I obtain a Standard Chartered International Credit Card and what types of International Cards do you offer?

A. You will be required to have a US$ account, either RFCD (Resident Foreign Currency Deposit) or ERQ (Exporters Retention quota) FCY account to apply for Standard Chartered International Credit Card. We are currently offering Visa Classic and Visa Gold International Cards. The minimum limits for these cards are US$ 500/ - and US$ 5000/. The maximum limits are US$4500 and US$ 20,000/ respectively. Please note we will require to keep a lien amount of 112% of the credit limit (as per the foreign exchange regulation). Repayment of the card will also have to be made in US$ cheque, debit instruction or standing order.

Helpline

Anwara Chowdhury Guidance Counselor

Q. Can you relate the importance of bereavement counseling?

A. Bereavement or loss by death is only one of the many experiences of loss faced during the course of our lives. Bereavements can be described as the loss of something that is precious. It is often used in the context of losing a person, but it may include the loss of an inanimate object, the ending of a relationship, a change in a particular life situation or any kind of unexpected experiences in a person's life.

Loss touches all of us throughout our lives, yet its existence is not always recognized, except in extreme cases such as death or divorce. The process of loss remains a source of stress. Unless the loss is recognized, acknowledged and grieving is encouraged, it can be difficult to move on with the rest of our lives. "There is no growth without pain and conflict and no loss that cannot lead to gain".

Society plays a major role in a person's life. The grieving process can be hindered when society places behavioral barriers towards the bereavement process. Sometimes the bereaved uses different types of mechanisms to avoid feeling any pain from the loss. If this bereavement process is not adequately completed then later in life there may be difficulties and complications.

During the grieving period survivors are often selective in choosing with whom they can share their feelings. Sometimes they pretend that everything is fine and they are coping well. This delusion occurs to those who cannot tolerate the thought of demise. Sometimes when they cannot cope with denial they vent their anger on others because their dreams and hopes were prematurely ended. Dealing with loss involves a process of grief and mourning which has separate stages: shock and numbness, denial and yearning, despair and disorganization, acceptance and recovery. A survivor experiences these stages through the mourning period to accept the reality of the loss. When survivors are assisted in going through the stages, they find it easier to accept their fate without so much pain and struggling.

Bereavement Counseling involves helping a person to go through a normal grief stage to a healthy completion. The bereaved person supported by a counselor goes through the different stages to accept the reality of the loss. One of the aims of grief counseling is to help the bereaved person to go through this difficult task so they do not have to carry the pain throughout their lives. It is essential to acknowledge this and work through the pain or it could result in stress and other physical symptoms.

Q. I am extremely concerned about my 14 years son. Over a period of time he has become very quiet and subdued. He spends most of his time in his room. Please advice me on this issue. -Sharmin

Dear Sharmin,
I understand your worries. There could be number of reasons why your son is behaving like this. To ease your worries I am informing you of some of the issues that may be affecting your son.
a) Stepping into adolescence.
b) School- bullying
c) Difficult relationship with parents
d) Loss in the family
e) Peer pressure, etc.

I believe this kind of situation may create a stressful environment, which is not at all helpful to you or to your child. My advice is to make time for him. Discuss with your son some of the issues I have mentioned if you feel they are relevant .Do not accuse him about his behaviour. Be sympathetic to his problems and treat him with respect.

For further details or advice contact Anwara Chowdhury
Email: AnwaraChowdhury@hotmail.com

Parlour wise

Lucy's parlour, located in Baridhara is running with great success since the parlour was opened as a branch two years back by the country's beauty legend from Chittagong with an experience of over thirty five years. The parlour is well decorated and has a classy-expensive look to cater to the needs of its customers. Some of the staff have experience of well over twenty years and have extensive training both at home and abroad. The parlour has already made an impact despite some parlours in the area, which are well established. Lucy runs the biggest parlour in the country in Chittagong having well over 50 girls. Being a regular customer for the first ten years with Lucy, I dare say she is the best in the trade.

By Shireen Akhtar