Allow me to give a simpler example, of how the US pays other countries and vice versa. Let’s say you are three friends, and each friend will be designated as a country, make belief of course. Harry (UK) Tom (US) Lucy (Germany) So the three friends decide to all buy a register. A ledger if …
How do countries like the US give money to other countries? Read More »
The history of modern banking is quite rich and dates way back in time. Several entities and civilizations have been credited for their contributions towards the development of modern banking systems and the variety of services provided by banks today. The Knights Templar played a significant role in the introduction and diversification of banking services …
Why the Knights Templar were Really Good at Banking Read More »
When things start to get tough financially, the stress that can follow can be difficult to cope with. From monetary stress to a low mood when you can’t afford to do what you love, coping when things get tough can be a struggle. While Uncle Buck payday loans can help you in the case of …
The central bank of Pakistan, i.e. State Bank of Pakistan, ended months of neutral stance by formally issuing a notice on Bitcoin &/or Virtual Currencies. In a Banking Policy & Regulations Department (BPRD) Circular # 3 of 2018, State Bank of Pakistan has officially put a Prohibition of Dealing in Virtual Currencies/Tokens. It also confirms …
Central Bank of Pakistan puts prohibition on Bitcoin & Virtual Currencies. Read More »
I’m fascinated by history (hated the subject when I was in school). It is no surprise, that as I learn more about banking and money, one cannot help but be fascinated with paper money or currency notes. The idea and invention of paper money has, for a long time, been one of the most interesting …
How China Gifted Us Paper Money (also known as Flying Money) Read More »
Want to attend the Web Summit in Lisbon, Portugal this year? Well, I am willing to sponsor 100% of the trip for a deserving boy and a girl from Pakistan. I have cited on many forums and wanted to reiterate my commitment to sending two people from Pakistan (one boy, one girl) to WebSummit that …
The IBAN is slowly becoming the de facto standard of identifying a beneficiary account. Barring the US, many countries are now jumping on-board the IBAN bandwagon. At the time of writing this article, 82 countries are using IBAN. However, the one thing that I personally don’t like about IBANs is that they are bank specific. …
For the past couple of years, I have been talking around the world about the Fragments State of Our Payment Systems. With over 1,900 payment systems around the world, less than 3 percents are connected and can talk to each other directly or using one hop. Think about that for a minute, what a mammoth …
