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August 31, 2016 / 27 Av, 5776

Posts Tagged ‘financial’

Goldstein on Gelt: How to Make an Effective Financial Decision

Monday, July 11th, 2016

What skills do you need for making the right financial decision?

Gary Belsky, CEO of Elland Road Partners and author of Why Smart People Make Big Money Mistakes and How to Correct Them, shares techniques for making effective decisions.
Who is the best person to brainstorm and deliberate with about your financial decisions? What should you do if there is no one to talk to?

When investing your money, don’t forget about the power of compound interest. Learn about compound interest, and how it could help create a more comfortable retirement.

The Goldstein On Gelt Show is a financial podcast. Click on the player below to listen. For show notes and contact details of the guest, go to www.GoldsteinOnGelt.com

Doug Goldstein, CFP®

What is the Truth About Financial Equality for Women?

Thursday, June 30th, 2016

Does financial equality really exist for women?

Financial advisor Cary Carbonaro, best-selling author of The Money Queen’s Guide: For Women Who Want to Build Wealth and Banish Fear, reveals that women are still far from being financially equal to men. Generally, women live longer than men but work for a total of fewer years, for lower salaries, and as a result they tend to accrue two-thirds less savings than men.

Find out how women can improve their financial situation and what they should do in the event of a divorce or the death of a partner.

What happens to a brokerage account when its owner dies, and if there isn’t a will? Get tips and advice on how to claim the assets, what to do if the deceased lived in a different country, and what paperwork you need to start the process.

The Goldstein On Gelt Show is a financial podcast. Click on the player below to listen. For show notes and contact details of the guest, go to www.GoldsteinOnGelt.com

Doug Goldstein, CFP®

Aaron Katsman – In Honor of Israel’s Birthday – How to Invest in Israel [audio]

Monday, May 9th, 2016

As Israel celebrates its independence this week, Aaron teaches the listeners how you can invest in Israel. He also gives 3 tips to help you become financially independent.

*If you have any questions for Aaron email him: aaron@lighthousecapital.co.il .

Aaron Katsman Show 09May2016

Israel News Talk Radio

Israeli Banks Post Strong Figures for 2015

Monday, February 29th, 2016

Israel’s two largest banks posted a strong year for 2015.

Bank Hapoalim noted its annual revenue rose 2.4 percent last year to NIS 14.36 billion. Net profits rose 13.6 percent to NIS 3.08 billion, according to Globes.

Credit to the public rose 5.8 percent to NIS 278.49 billion and deposits from the public rose 8.2 percent to NIS 321.72 billion.

Bank Leumi’s annual non-interest revenue rose to NIS 6.29 billion in 2015 from NIS 5.14 billion in 2014, although net interest revenue fell to NIS 7.11 billion, from NIS 7.36 billion a year earlier.

Net profit jumped to NIS 2.83 billion for 2015, compared with NIS 1.4 billion in 2014.

Credit to the public grew 3.5 percent to NIS 261.4 billion and deposits from the public rose 8.3 percent to NIS 328.7 billion.

Jewish Press News Briefs

Obama Signs New Hezbollah Sanctions Law

Sunday, December 20th, 2015

The Lebanese Hezbollah terrorist organization is facing a new battle after Golan Heights chief terrorist Samir Kuntar was killed in an Israeli air strike on the outskirts of Damascus.

The terrorist group has lost nearly a third of its total number of guerrillas fighting in the savage civil war on behalf of the regime of President Bashar al-Assad in Syria, backed by Iran and Russia.

But now the terror group also faces new financial problems in the United States.

The Hezbollah International Financing Prevention Act of 2015 was formally signed into U.S. law on Friday afternoon by President Barack Obama.

The legislation, which imposes tough sanctions on banks that do business with the Iranian proxy terrorist organization, reached the president’s desk after its unanimous approval Wednesday in the House of Representatives. The legislation was passed unanimously by the Senate last month.

The law is a “strong, bipartisan bill,” said White House press secretary Josh Earnest on Friday. “We continue to work with Congress in a bipartisan way to ensure that we maximize the tools available to us to thwart Hezbollah’s network at every turn, and we look forward to working together as we implement these new authorities,” Earnest said.

“The U.S. government has made significant progress and will continue to further disrupt Hezbollah’s terrorist capabilities by targeting the group’s financial support infrastructure.”

Hana Levi Julian

Britain: ‘A World Capital for Islamic Finance’

Thursday, October 31st, 2013

Originally published at Gatestone Institute.

The London Stock Exchange will be launching a new Islamic bond index in an effort to establish the City of London as one of the world’s leading centers of Islamic finance.

Britain also plans to become the first non-Muslim country to issue sovereign Islamic bonds, known as sukuk, beginning as early as 2014.

The plans are all part of the British government’s strategy to acquire as big a slice as possible of the fast-growing global market of Islamic finance, which operates according to Islamic Sharia law and is growing 50% faster than the conventional banking sector.

Although it is still a fraction of the global investment market — Sharia-compliant assets are estimated to make up only around 1% of the world’s financial assets — Islamic finance is expected to be worth £1.3 trillion (€1.5 trillion; $2 trillion) by 2014, a 150% increase from its value in 2006, according to the World Islamic Banking Competitiveness Report 2012-2013, published in May 2013 by the consultancy Ernst & Young.

But critics say that Britain’s ambitions to attract investments from Muslim countries, companies and individuals are spurring the gradual establishment of a parallel global financial system based on Islamic Sharia law.

British Prime Minister David Cameron announced the plans during a keynote speech at the ninth World Islamic Economic Forum, which was held in London from October 29-31, the first time the event has ever been held outside the Muslim world.

“Already London is the biggest center for Islamic finance outside the Islamic world,” Cameron told the audience of more than 1,800 international political and business leaders from over 115 countries.

“And today our ambition is to go further still. Because I don’t just want London to be a great capital of Islamic finance in the Western world, I want London to stand alongside Dubai and Kuala Lumpur as one of the great capitals of Islamic finance anywhere in the world.”

Cameron said the new Islamic bond index on the London Stock Exchange (LSE) would help stimulate fixed-income investments from Muslim investors — especially investors from oil-rich Persian Gulf countries — by helping them identify which listed companies adhere to Islamic principles.

Investors who practice Islamic finance — which is said to be structured to conform to a strict code of ethics based on the Koran and Sharia law — refuse to invest in companies that are linked to alcohol, gambling, pornography, tobacco, weapons or pork. Islamic finance also forbids collecting or paying interest and requires that deals be based on tangible assets.

Unlike conventional bonds, sukuk are described as investments rather than loans, with the initial payment made from an Islamic investor in the form of a tangible asset such as land. The lender of a sukuk earns money as profit from rent, as in real estate, rather than traditional interest.

Cameron says the British Treasury will issue £200 million (€235 million; $320 million) worth of sukuk as early as 2014. The objective is to enable the government to borrow from Muslim investors. The Treasury plans to issue fixed returns based on the profit made by a given asset, thereby allowing Muslims to invest without breaking Islamic laws forbidding interest-bearing bonds.

The Treasury also said some sukuk bond issues may require the British government to restrict its dealings with Israeli-owned companies in order to attract Muslim money.

Although Britain has already established itself as the leading secondary market for sukuk — the LSE has listed 49 sukuk bonds worth $34 billion during the past five years — such bonds have rarely been issued from local firms and never from the government.

“For years people have been talking about creating an Islamic bond, or sukuk, outside the Islamic world. But it’s never quite happened,” Cameron said. “Changing that is a question of pragmatism and political will. And here in Britain we’ve got both.”

According to Cameron, this “pragmatism and political will” is being influenced by the fact that Islamic finance is “already fundamental” to the success of the British economy. Indeed, it is.

Britain is already the leading Western center for Islamic financial and related professional services. It is a leading provider of Sharia-compliant finance, with reported assets of $19 billion, according to Islamic Finance 2013, a new report published by The City UK, a financial sector lobby group.

Soeren Kern

Overspending

Thursday, August 1st, 2013

Often one spouse accuses the other of being an over-spender. But what exactly is “overspending”? This definition changes from family to family; for one, going out to eat on a weekly basis may be within their means, while even a periodic coffee may be stretching the resources of another couple. So how does a family determine whether they can afford to eat out?

One cannot “overspend” if there isn’t a budget that defines spending limits. A budget can help reduce friction between spouses who have different spending patterns. If both partners agree to create and abide by a budget, then the one spouse is no longer the “bad cop” that regulates his or her partner’s spending habits.

Spending as an emotional issue

People spend money for a variety of reasons. Some expenses, like groceries and utilities, are a necessity, while others are discretionary. However, even within fixed expenses there is usually room to cut back. Does Shabbat dinner need to be an expensive cut of meat accompanied by costly wine, or will chicken and grape juice suffice?

Examine your fiscal habits. Do you have an idea of how much your monthly expenses are? Where do you spend money? Do you charge or pay in cash? Do you have financial goals that are important to you, and if so, are you actively working to achieve them? How would you feel if your spending habits changed? How would that change affect your spouse/family?

Consider the doctor who tells an overweight patient that unless he lost a considerable amount of weight, he would face serious illness. Chances are, the patient would diet and exercise. So why is there a discrepancy when a financial adviser recommends a fiscal diet and an exercise program of spending within a budget?

Very often, financial issues mask other problems within a relationship. Therefore, creating a budget is not only a good tool to monitor spending, but it can also help improve family harmony.

Doug Goldstein, CFP®

Printed from: http://www.jewishpress.com/blogs/goldstein-on-gelt/overspending/2013/08/01/

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