Mortgage in Saudi Arabia

Mortgage in Saudi Arabia In contemporary Saudi Arabian economy, demand for residential housing is on the rise; according to a Saudi Arabia Housing Sector Outlook, the economy’s demand for new housing is expected to grow at a rate of 18% per annum during the period of 2010 to 2013.Advertising We will write a custom assessment sample on Mortgage in Saudi Arabia specifically for you for only $16.05 $11/page Learn More The report further clarifies that by 2015, the country is in need of 1.65 million new residential units. With the hiked demand for housing, the mortgage industry has grown drastically: banking and financial institutions are tapping these markets and developing effective means to mitigate losses as a result. Demand for housing has grown due to an increasing youthful population that is setting small families at younger age; the country has a high population growth rate having doubled for the last forty years to 28.7 million, all these people have lead to the growth o f the housing industry (Saudi Arabia Economic Statistics and Indicators). This paper discusses the countries mortgage business trends. Borrowers risk and residential mortgage lending Residential mortgage lending means housing financing of homes; this is where a borrower takes a loan facility in the form of a mortgage to buy or construct a house to live in. The main difference that the facility has with commercial leading is that the bought house is expected to be the living premises of the borrower and not rented out for business purposes. The sector is the fastest growing in Saudi Arabia where young people are looking for homes to buy, or be financed to be build one. With the rise in demand of residential mortgage lending, and the need to make them affordable and protect the lenders, Shura Council has developed some lending policies. An amendment was passed in April 2011, where the countries housing authority was upgraded to a full ministry and expected to use $67 billion to build 500,000 homes; the ministry is expected to have a budget of $4 billion. In Islamic banking, of which are the majority in Saudi Arabia, residential mortgage lending follows regulations of SAMA; it happens that the lender engages into a contract by a third party, buys the house and rents the house to the customer. The amount of rent will have an element that goes to the bank as a gain from investment what is the financial benefit to the bank and another amount that goes to the principal amount.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More When lending banks and other financial institutions under the regulations of SAMA have a structure that works as the contract between the lender and the borrower; the contract is made with the prevailing condition at the time of lending taken to task; however, the situation may change creating some difficulty in the honor of the payment agr eement. Any change or chances of a change that might result to strained payment or default is called borrows risk. Borrows risk can thus be defined as the chances at which a borrower will default (willingly and unwillingly) paying the loan (Raymond, Ying-Foon and Ming 5-32). Factors you think are relevant in determining borrower’s risk When offering loans, a bank has to gauge the chances of success of the loan; the same happens with mortgage financing; the following are the factors that need to be considered: Borrowers Information When evaluating a borrower financing institutions/lenders considers the current and historical information of the lender, SAMA maintains a credit, history software were lenders are supposed to run the information of the borrower with the system and the history of the borrower will be offered. A high relationship exists between a person who have defaulted in the past and the chances that they are likely to default in the future. Those people who ha ve had a history of defaulting are given the facilities with more restricted terms or denied all together. Other than the government records, in case someone is an employee, the reputation of the company he is serving should also be looked into, there should be a letter signed by the employer guarantee the loan facility (Sfakianakis and Banque). Property Information When offering a facility, the property that is being mortgaged will be the subject of the contract; the lender values the property and determines the amount of money he is going to offer the property.Advertising We will write a custom assessment sample on Mortgage in Saudi Arabia specifically for you for only $16.05 $11/page Learn More The main concern here is that there should be value for money, properties should not be over or undervalued. When looking at the value, there should be respect to local government and ministry of land instructions regarding the amount that the property should co st. The contract should ensure that there is mutual benefit on among the two. Loan information Depending with the facility that a financier is offering, the nature will take different forms; loans are made with different packages to meet the demands of different categories of people. With increase in competition in the industry, every company is looking for the best ways it can sell to the larger community; on the other hand, the government through housing authority is seeking to improve the affordability of the facilities; it also ensures that businesspersons do not take advantage of the situation. When lenders are gauging the potential of a borrower, they consider what the borrow can afford, they put into consideration other loans that he might be financing, his living standards, his responsibilities and try to determine the amount that can be committed to the mortgage. This assists in ensuring that when someone id financing a facility, he is not pushed to the wall that he can d ecide to default payments. It is also SAMA rules that someone should commit his income to financing of loans only to a certain percentage. Side incomes are also considered (Zainab). Relationship between the three types of borrower’s risk and residential mortgage lending The above risks have interrelations and connections; when one area is overlooked, then it is likely to be the weak point of the whole process. In case the lenders observes that the prospective borrow has the potential and have good credit history, as it is required by borrowers information, then goes ahead to advance a facility without looking into loan information of the borer, then the borrow is likely to default paying the loan because he has been constraint by financial budget.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More On the other hand, loan information and property information are found to be okay but the lender overlooks borrower’s information; it is risking chances that the borrower has just made things look better but he is a defaulter. All the risk analysis tools through seeking information should be considered before advancing a loan facility to a borrower (SAMA). Global financial crisis and Saudi Arabia’s Real Estate sector According to Saudi Arabia’s commercial Real Estate sector report for the third quarter in 2010, the effect of global financial crisis was more felt in real estate’s industry than it was felt by the entire economy; the sector of the economy has been responsible for the growth of mortgage industry. The economy faced a reduction in business in the real estate of up to 10% where rental and the value of housing reduced accordingly. Global crisis brought about a contraction in lending rates in banks thus the demand for real estate’s also wen t down. People could hardly have enough money to demand for homes. In 2010, the situation seemed to have taken a different route while the government focused on a boost in the industry other than the traditional oil industry (Gulf base). Recommendations The growing population of Saudi Arabia and improved living conditions in the country is offering an opportunity for residential mortgage business; however, some measures that should be enacted by lenders to ensure they benefit from the opportunity, they include: Although Saudi Arabia is more of a capitalist nation, lenders should ensure they do not overprice their mortgages since there is high demand for the youths. Demand is higher than supply and according to law of demand, the prices should increase, as much as this is true, lenders should go ahead further and consider value for money. They should not overprice and take advantage of the high demand. Learning from experience is important since the failure of the United States mortg age industry in 2007 was because of unjustified increases in mortgage prices. I would recommend my bank to consider the borrower and value for money; this will lead to continued flow of customers. The next important factor that the bank should look into is the historical background of the borrower, the credibility of the borrower should be proved beyond doubtful doubts. In case of a red flag, the company should hold back and analyze the situation. To be sure, of credibility, third parties like employers, other bank’s statements, spouse consents, and utility bills holders should be consulted. With globalization, I would develop flexible mortgages facilities that allows for restructuring of loans; however, it should be in accordance to SAMA regulations. Gulf base.  Kingdom Of Saudi Arabia. GCC Stock Market, 2010. Web. Raymond, Chiang, Ying-Foon Chow, and Ming Liu. Residential Mortgage Lending and Borrower Risk: The Relationship between Mortgage Spreads and Individual Charact eristics. The Journal of Real Estate Finance and Economics 25.1 (2002): 5-32. Print. SAMA. Saudi Arabian Monetary Agency. Saudi Arabian Monetary Agency, 2010. Web. Saudi Arabia Economic Statistics and Indicators. Economy Watch. 2010. Web. Sfakianakis, John, and Banque Fransi. Saudi Arabia Economics. Web. Zainab, Fattah. Saudi Arabia’s Mortgage Law Advances Amid Mideast Unrest. 2011. Web.

Learn How to Write a Business Report With Expert Writers

Learn How to Write a Business Report With Expert Writers How to Write a Business Report Not every individual is aware of how to write a business report. Such type of reports is considered to be more complex than a letter written on a business matter. However, if you want to achieve a positive result, creating a good business report will not be a problem for you. What Is a Business Report? Business report writing refers to the analysis of a particular situation or a certain business aspect. For instance, current trend in business, current situation in a particular country, financial statement, or any business data useful for creation of recommendations and strategies that will help in improving business. In addition, any business report may offer evaluation of solutions to certain problems faced by the organization. It can also describe some practices and theories that can be applied in order to improve companys overall performance. Ways of Writing an Effective and Informative Business Report Regardless of industry type, business report plays a crucial role since it helps companies to make correct business decisions. Taking into account the importance of business report, it is crucial to make sure the report is concise, clear and informative at the same time. You should know that there is no wrong or correct information when it comes to business report writing. Your main task is to provide objective information and make sure it is clear for the potential reader. The blow tips will help you understand how to make a business report. If you take these tips into account, your report will definitely be successful. Clarify with the customer what he/she needs. This step is of utmost importance. It does not matter who the customer is, you need to make sure that every party talks about the same matter in terms of expectations and end results. When you start determining this issue, you should think about final report. What particular issues should be covered in business report? What recommendations should be offered? What information will be provided in the report? What the customer is trying to find? Find out what type of business report is needed for the customer This matter should be clarified with the customer as well since it is very important. Remember that there are a lot different kinds of business reports. It means that you should ask your customer what type of report he/she wants so that you could use the correct report structure. For instance, some customers want a business letter, business plan, strategic plan, financial plan, or plan on corporate information. You should find out the type of report prior to writing it. You should conduct the detailed research work As soon as you know everything what the customer needs to be included in the report, you should start the initial research work. This step may include reading materials provided by the customer or making a list of questions and conducting interviews with the targeted audience. It will depend on a particular report objective. Of course, the Internet can help you make the research process much easier, but please make sure you use up-to-date and reliable sources of information. Create the table of contents In order to develop an informative and logical business report, it is recommended to create a table of contents first. Many expert writers use this technique. Of course you can create your table of contents before you start writing the report or during the process of writing. Table of contents is more than just a draft. You should think about it carefully and divide the information in a logical and easy to understand manner. This process is a bit time consuming but believe it or not it will make the report writing faster and easier. Try to imagine the final report and write down the content. This tip is really useful. Remember that table of contents serves you as a guide on what should be written in your report. NOTA BENE: In case you have an external customer who ordered a business report, it will be better to show the table of contents to him/her and ask for its approval. It helps the customer to understand whether he/she wants this information to be present in the report. As soon as the customer sends his/her approval of the table of contents, you can start writing the report and be sure that no other changes will be required by the customer on a final writing stage. Conduct additional research work Right after you decide what the table of contents should include, you will see if you need to conduct additional research work. In case additional information should be collected, you should do it before you begin writing the report. It helps not to interrupt the process of report writing because you will have everything you need at hand. Make the skeleton of your future report Making a skeleton of your report is quite easy when you work with MS Word. Prior to writing anything, copy the headings included in your table of contents and paste them on a separate page in the same orders as they appear on the contents page. Leave the blank space between the headings and then using the MS Word generate an automatic table of contents. After the skeleton is done, you can start filling in the space between the headings. Write business reports by filling in the space between the headings Yes, that is how simple it is. As soon as you have done the skeleton of your future report, the writing process resembles filling in the blank space. All you have to do is to moving from the beginning to the final heading. Do it sequentially and follow the logical order. If you have done all the preparations correctly, the report writing process will not be painful at all. We hope that now you know how to write a business report and it does not seem to you a difficult and time-consuming task anymore. If you follow the basic rules of business report writing, everything will become easy and fun. In case you still have some hesitations, you can look for professional report writing help online. Real professional writers will show you how to write a business report and impress your potential readers.

Helicoprion Facts and Figures

Helicoprion Facts and Figures Name: Helicoprion (Greek for spiral saw); pronounced HEH-lih-COPE-ree-on Habitat: Oceans worldwide Historical Period: Early Permian-Early Triassic (290-250 million years ago) Size and Weight: About 13-25 feet long and 500-1,000 pounds Diet: Marine animals; possibly specialized in squids Distinguishing Characteristics: Shark-like appearance; rolled-up teeth in front of jaw About Helicoprion The only surviving evidence of the prehistoric shark Helicoprion is a tight, curled-up coil of triangular teeth, a bit like a fruit roll-up, but considerably deadlier. As far as paleontologists can tell, this bizarre structure was attached to the bottom part of Helicoprions jaw, but exactly how it was used, and on what prey, remains a mystery. Some experts think the coil was used to grind away the shells of swallowed mollusks, while others (perhaps influenced by the movie Alien) think Helicoprion unfurled the coil explosively like a whip, spearing any unfortunate creatures in its path. Whatever the case, the existence of this coil is proof that the natural world can be stranger than (or at least as strange as) fiction! A recent fossil analysis, conducted with the aid of a high-resolution CT scanner, appears to have solved the Helicoprion enigma. Apparently, this creatures whirled teeth were actually housed inside the bone of its lower jaw; the new teeth gradually unfurled into Helicoprions mouth and pushed the older ones further away (indicating either that Helicoprion replaced its teeth unusually rapidly, or that it subsisted on soft-bodied prey like squids). In addition, when Helicoprion closed its mouth, its distinctive tooth whorl pushed food further into the back of its throat. In this same article, the authors argue that Helicoprion was not, in fact, a shark, but a prehistoric relative of the cartilaginous fish known as ratfish. Part of what makes Helicoprion such an exotic creature is when it lived: all the way from the early Permian period, about 290 million years ago, to the early Triassic, 40 million years later, at a time when sharks were only beginning to obtain a tentative toehold (or finhold) on the undersea food chain, competing as they did with comparably fierce marine reptiles. Amazingly, the early Triassic fossil specimens of Helicoprion indicate that this ancient shark somehow managed to survive the Permian-Triassic Extinction Event, which killed a whopping 95 percent of marine animals (though, to be fair, Helicoprion only managed to struggle on for a million years or so before succumbing to extinction itself).

Cinematic Critique essays

Cinematic Critique essays Cinematic Critique Laura Mulvey and Walter Benjamin are film critics who base their thoughts on established theory. Ms. Mulvey uses a psychoanalytic approach while Benjamin utilizes a political and economic view based on Marxist theory. In his statement, "If the natural utilization of productive forces is impeded by the property system, the increase in technical devices, in speed, and in the sources of energy will press for an unnatural utilization proof that society has not been mature enough to incorporate technology as its organ, that technology has not been sufficiently developed to cope with the elemental forces of society" he allows that society utilizes technology, including cinema, to incorporate political agenda. Ms. Mulvey would argue that it was based on gender politics while Mr. Benjamin would Ms. Mulvey disagrees, viewing psychoanalytic theory as a political weapon that demonstrates the unconscious reflection of patriarchal society within the structure of film. For her, technology is the tool while Mr. Benjamin would argue that technology provides the structure. They would, however, agree that film represents historical reality based on current interpretation. Both would agree that there exists a reflection of oppressed and oppressor within the cinematic representation. The two would agree that art is separate from society in how it is "received and valued" (Benjamin). Visual representation is seen as a bipolar phenomenon by both. Mr. Benjamin views the dichotomy as "cult value and the exhibition value of the work" while Ms. Mulvey would argue the dichotomy as observer and observed. She states, "Although the film is really being shown, is there to be seen, conditions of screening and narrative conventions give the spectator an illusion of looking in on a private world. Among other things, the position ...

Grocery gateway Essay Example | Topics and Well Written Essays - 1000 words

Grocery gateway - Essay Example In addition, there is the value of chain, a description of the supply chain, competitors, and competition strategy. Lastly, there are various Information Communication Technology tools and components used by the business. Grocery Gateway This is a business located in Canada and consists of a group of entrepreneurs. The main reason for the business was that because people recover things, it is worth establishing a business and combine ideas to accomplish various goals. Longo Brothers Fruit Market Inc is a family, which dominates the actions in Grocery Gateway. They are the employees of the business whose primary aim at maximizing profits and distributing it to all family members. It looks forward to increase the number of registered customers. It offers online services to improve the entire process. The main business involves rental trucks that were few at the start of the business. Grocery Gateway offers transportation services to its consumers (Tallevi, 2013). Description of the sup ply chain in Grocery Gateway Selling of products from the business to the consumers requires a better chain of supply. This is vital to maintain the profits and ensure that the sales do not decrease. Tallevi (2013) indicates that Grocery Gateway sells its products through online engines. There is an established Web site online, which is responsible for ensuring that the necessary information is available to all willing buyers. This is also necessary for growing businesses within a society. Competitors to Grocery Gateway For the running of any business, there must be competition from other businesses offering similar products and services. Competition helps business entrepreneurs to scrutinize the services and products in such a manner that they will of a higher quality as compared to those of the competitors. The competitors to Grocery Gateway business are principally the supermarkets. Most of the supermarkets offer products same as those sold by Gateway Grocery. This creates an env ironment where all entrepreneurs have to meet their set targets. This then calls for strategies that when used, Grocery Gateway will not operate under a negative effect of the competition (Tallevi, 2013). Strategies used by Grocery Gateway to compete Desire for an improvement in the business operations is significant in that it determines the effectiveness of the business. For instance, Grocery Gateway aims at integrating and coordinating several services with intent to have unified web site tasks. Longo Brothers being aware of what the business requires to fit in the business world turns to various systems to increase efficiency in route selection (Tallevi, 2013). Gateway strives though to an increased number of customers, who are the determinants of the sales made per day. There is online registration, which is the best and quicker way of registering buyers. Another way of hindering a negative result of competition as depicted by Gateway is through the opening hours. This is impor tant especially for late night operation. Longo Brothers through online communication stated that the grocery operates under a twenty-four hour basis. This is significant in ensuring there is unlimited number of customers. Importance of the competition strategies Strategies applied by entrepreneurs are the determinants of the survival of the business within the market. For instance, improved customer relations leads to an increase in the number of potential buyers, which is a major source of

Organization communication today Essay Example | Topics and Well Written Essays - 750 words

Organization communication today - Essay Example Therefore, they have ideas but cannot get the ideas to other levels of the organization. In addition, they are unable to listen to others. For this reason, they are behaving like the taxi driver who only holds soliloquies, but does not communicate with other people. It is the responsibility of executives in organizations to adopt critical approaches to communication. In order to achieve this, executives face the compulsion of establishing an effective communication feedback loop. Unless such a loop exists, communication breakdown in the organization leads to inefficiency. When organizations lack effective communication channels, it is as if they are talking to the mirrors just as the taxi driver. When they are talking to the mirror, it is impossible for them to communicate organizational goals to other levels of the organization. It is the role of executive teams to define visions and establish goals for the organization. They should rely on the established communication channels in an effort to inspire all the employees so that they can focus on organizational goals. When the executive teams fail to establish effective communication channels, such inspiration is impossible because they cannot get the intended message. Many organizations rely on short-circuited communication systems and expect positive outcomes. With a short-circuited communication system, it is impossible to communicate ideas and receive feedback from employees. Therefore, a short-circuited system blinds the executive team making it extremely difficult to identify existing problems in the organization. If the communications systems were effective, it would be possible for the executive team to develop viable solutions in good time. However, when the type of communication resembles that of the taxi driver, the executive team lacks the capacity to initiate any strategies that would address organizational problems. Other

Ursula Burns Week 9 Essay Example | Topics and Well Written Essays - 500 words

Ursula Burns Week 9 - Essay Example She always represents the views of her workers and encourages them all through (Lussier & Achua, 2013). This is considering that she wants them to achieve success in their daily routines and aims at fostering their great abilities at work. She constantly aims at gaining extra success. In this regard, it is true that she represents all the above mentioned behavioral components. Yes. I believe that Burns shows excellent qualities of a servant leader, which makes her fit the bill. It is not possible to leave out the fact that she was brought up by a single mother who endeavored to see her children become successful in life and live better lives. She managed to set herself apart from other individuals placed in the same ranks with her. Above all, Burns had a chance to do for other people what her mother did for her (Lussier & Achua, 2013). Based on my knowledge of Ursula I believe that she meets the criteria for all the 12 qualities presented. Narrowing down to a particular quality would only deny her the great qualities she deserves. First, she shows that she had bought into the vision of the company. Specially, Burns desires to see the company grow and develop into a bigger and better one than it has ever been before (Lussier & Achua, 2013). She hopes that her employees will acquire significant achievements in the company as well. It is true that Burns is an excellent speaker and gifted communicator. This is considering that she managed to climb fast the management ladder at Xerox on account of her exceptional communication skills. Above all, she is endowed with out of the ordinary ethical attributes and self-certainty. This is evident in the subject that she never showed any signs of fear her skills or knowledge. She consistently shared her mind and presented her individual ideas without any worry. Ultimately, it i s her confidence that enabled people around her to confide in her without a doubt. Based on the facts of the case, Burns derives her personal