The Stigma Of Stem Cell Research - 896 Words

EDIT material Scientific research of all kinds is viewed by some as controversial, with one of the most controversial of these being the study of human stem cells. From the first uses of this technology there have been many who have fought to stop it. However, current advances in medical research have made it possible to reduce some of the negative stigma surrounding stem cell research and will lead researchers to develop new cures and other applications that could turn the health care industry further toward the current trend of preventative medicine. Much of the negative connotation surrounds the types of cells used and how they are harvested. New discoveries and techniques have allowed for alternate sources of stem cells and that research has led to new views of the cells and their functions. All of this has, in turn, led to new information about many genetic diseases and possible treatments using stem cells. Stem cell research has long been viewed in a negative light by many with concerns about not only the methods of harvesting the cells, but also with the applications of the technology. Originally, stem cells could only be harvested from embryonic cells which was quite unsettling for some. This led to further debate on what the implications of this research could be and if this knowledge would lead to human cloning. This is what concerns most people as the concept of â€Å"playing God† is quite unacceptable to some. In Mary Shelly’s Frankenstein, this is demonstratedShow MoreRelatedThe Stigma Of Embryonic Stem Cell Research2323 Words   |  10 PagesDespite the stigma surrounding embryonic stem cell research, there are many positives that outweigh the negatives in medical and scientific settings. Due to the knowledge of this, continued funding and support is critical for the advancement of these therapies and science as a whole. Diseases that can be aided by unabating fi nancial and moral support are but not limited to, spinal cord injury, heart disease, parkinson s disease, alzheimer s and Lou Gehrig s disease, more commonly known as ALSRead MoreEssay On Human Life1389 Words   |  6 Pagesdiscovery of human embryonic stem cells. This sparked curiosity and enlightenment in the eyes of medical professionals everywhere. Nineteen years later the world is riddles with a plethora of controversy, fabrication, and fallacies in regards to the use of embryonic stem cells. Contrary to this, these â€Å"super cells† have the growing potential to put an end to many medical disputes. Firstly, to understand the stigma and information behind embryonic stem cell research, there must be a common understandingRead MoreThe Issue Of Stem Cell Research1218 Words   |  5 Pagesbecause of the cells inside us. It’s called stem cell research and it could be the first step in medical revolution where we’ll be able to heal our bodies of any illness. Unfortunately, due to the controversies surrounding stem cell research, the government is unwilling to help and remain neutral with sides. Scientists first discovered stem cells in the early 1980s while experimenting with embryonic stem cells from mice. This later triggered the studies for human embryonic stem cells in the late 1990sRead MoreThe Debate Of Stem Cell Research1660 Words   |  7 PagesThe Great Stem Cell Debate In 1998, President Bill Clinton issued a National Bioethics Advisory Commission to begin to study the question of stem cell research (Stem Cells Fast Facts). Since then many advances have been made and stem cells have been used to aid in the alleviation of several medical conditions such as macular degeneration, bone marrow deficiencies, and growing new sheets of new skin for burn victims (Hug). Even though there is much stigma surrounding stem cell research, the medicalRead MoreEssay about Stages of Spinal Cord Injury Research1096 Words   |  5 PagesSTAGES OF SPINAL CORD INJURY RESEARCH. IT ACTED AS AN INTRODUCTION TO MY PERSUASIVE SPEECH ON THE BENEFITS OF STEM CELL RESEARCH) There are about a quarter of a million people in the United States living with spinal cord injuries. In addition, between 7,600 and 10,000 new injuries occur each year. Nearly half of these new injuries will occur in young people between the ages of 16 and 30. As a person in this category, I have become very interested in the research to find a cure for spinal cordRead MoreInformative Speech: Spinal Cord Injuries Essay968 Words   |  4 Pages30. I have become very interested in the research to find a cure for spinal cord injuries and hope to share some of the information I found with you today. In order for you to fully understand the details I will be sharing with you, I’d like to begin with a general overview of the spinal cord before moving on to the three stages of research I will cover: past research which has lead to present treatments, recent research, and the present and future research. The spinal cord is basically a bundleRead MoreCloning Stem Cells From Cloned Embryos Case Study1693 Words   |  7 Pages A less common view holds that obtaining stem cells from cloned embryos poses fewer ethical problems than obtaining stem cells from discarded IVF embryos. Several Scientist and Ethicist have argued that embryos resulting from SCNT do not have the same moral status we normally accord to other embryos: the combination of a somatic nucleus and an enucleated egg a â€Å"transnuclear egg†, is a mere â€Å"artifact† with no â€Å"natural purpose† or potential â€Å"to evolve into an embryo and eventually a human beingRead MoreCause and Treatment of Mental Illness807 Words   |  4 Pagesillnesses and what it entails. The paper will discuss my thoughts on mental illnesses as well as what exactly a mental illness is. I will begin telling where some of the stigma of someone suffering with a mental illness stems from. I will talk about how the media such as newspapers and national advertisements play a role in this stigma. I will give insight on some of the causes th at may contribute to someone dealing with mental illness. Genetic, biological, psychological, and environmental factors willRead MoreThe Importance Of Blood Relations Towards Men902 Words   |  4 Pagesof sexual contact with other men for one year (Canadian Blood Services, 2016). This paper studies how this policy contributes to stigma against MSM. This paper also aims to address this social inequity by promoting an advocacy that focus on donors’ risky sexual behaviors than their sexual identities. The CBS manages the supply of blood, blood products, and stem cells in Canada, excluding Quebec, and operates under national rules, regulations, and policies (Canadian Blood Services, 2016). One ofRead MoreThe Stigma Of Mental Illness1745 Words   |  7 Pagestested by the stereotypes and preconceived ideas that stem from the misunderstandings about mental illness. As a culmination of both, people with a mental illness are stripped of the chances that define a quality life such as a good job, safe housing, adequate health care, and a connection with a varied group of people. Although research has gone a long way to understand the affect of the disease, it only recently has begun to explain the stigma of mental illness (Corrigan). The  lives of people who

A Good Man Is Hard to Find By Flannery O’Connor Free Essays

Courtney BarnesPage 1 Intro to Lit. Prof. Rupp Feb 18 2013 You’ve Got Good Blood Literary Analysis of â€Å"A Good Man is Hard to Find† By Flannery O’Connor â€Å"You’ve got good blood. We will write a custom essay sample on A Good Man Is Hard to Find By Flannery O’Connor or any similar topic only for you Order Now † â€Å"I know you come from nice people,(504) cried the grandmother. â€Å"Pray! †(505) she pleads using grace and religion to plead to the better nature of what she thinks is still a good man. The story â€Å"A Good Man is Hard to Find† is about a family on vacation to Florida. The family takes a detour down a dirt road to look at an old plantation house that the grandmother tells a story about. She describes the house in such an intriguing way that most of the family is very eager to see it. However on the way the grandmother realizes that the house isn’t in Georgia at all but in fact in Tennessee, where she was longing to go instead of Florida. This startles her and she begins knocking things around and the cat jumps out of the basket landing on Bailey’s neck causing the car accident that leaves them stranded on the lonely road. When a passing car stops to help the grandmother quickly recognizes one of the men as â€Å"The Misfit†, a dangerous man who has escaped from prison. The grandmother confronts him and he tells her â€Å"It probably would have been better for your family if you had not recognized me at all lady. †(504) While the Page 2 Grandmother and the Misfit have a conversation about being a good man and how even a man who has turned bad can in fact be good again, the two men that came with the Misfit start breaking apart the family into small groups taking them into the woods to be shot and killed. While her family is being murdered in the woods behind her the Grandmother is pleading for her dear life shouting â€Å"I know you wouldn’t shoot a lady! (507) She continued on conversing with the Misfit knowing her family was being brutally murdered, trying to persuade him back to a good man. She asks him what he did to go to prison in the first place and he tells her he don’t remember, but they tell him that he killed his dad and they must be right because they have the papers to prove it. As he goes on describing what has ha ppened to him and what they done to him the reader gets the impression that he was wrongfully convicted. The Grandmother goes on telling him to pray, pray, pray. If you would pray† â€Å"Jesus would help you† (507) She goes on telling the Misfit that God has the power to fix things and to bring people back from the dead. She stresses over and over again during the time of their conversation the importance and power of prayer. If you dig deeper into the meaning of the story you can also see that the Grandmother is also pleading and praying for her own forgiveness and life. After all it is her fault that her families fate had become this. The outcome of the story was all consequence of the direct actions of the Grandmother. If she hadn’t suggested visiting the old plantation and made up things to entice the family to want to go then they never would have been on that road. If she wouldn’t have brought the cat the accident wouldn’t have happened and if she wouldn’t have spoken of recognizing Page 3 â€Å"The Misfit† murderer then he wouldn’t have killed her and her family. She unknowingly led her family to their tragic deaths. In the story the Grandmother is but of course the prominent character. By showing imperfections in her character the author shows the biased property of grace that she possesses. The Grandmother is portrayed as a typical southern woman of this era. She even dresses very sophisticated for a car trip. She wants to make sure she is recognized as a woman. If she was in an accident â€Å"anyone seeing her dead on the highway would know at once she was a lady. † The main theme of the story is religion. The plot intends to symbolize the spiritual grace passed from one human being to another with no regard to kindness or evil at all. You get a clear understanding of this in how the Grandmother misinterprets the word â€Å"good†. Grace is clearly used when the Grandmother say’s to the misfit â€Å"why you are one of my babies. You’re one of my own children! †(508) This was used to show him and get him to understand that they are both human beings. The Grandmother believes that because the Misfit is a good man that he cannot shoot a lady, his conscience just won’t allow it. This is where she misinterprets â€Å"good†. The Grandmother is the portrait of blind faith that so many of us operate daily from. She beliefs with all her soul that somewhere in this man is good if she digs deep enough she can bring it out in him. Despite all the bad things he has done, even in killing her family she appeals to the good side of him. Page 4 We all want to belief in the good of mankind. In the face of evil it’s that very hope and belief that bring back the balance of good to evil in the world. The story focuses on Christian beliefs and values depicts sin and punishment, belief and disbelief, good and evil. The Grandmother is representative of good and godliness. She reminisces on how times were good in her younger days and you could trust people The Misfit represents evil. At one point he symbolizes himself with Christ as they were both punished for crimes they did not commit. Christ died for the sins of others; however the Misfit murdered innocent people. The children in the story also play an underline role that you have to pay close attention in order to catch. They are the symbol of the breakdown of respect and discipline of future generations. In a way the story foreshadows into the way the world will be if we don’t teach our children respect for people and heritage. The Grandmother also plays a foreshadowing role when she warns her family of the Misfit and his crimes, â€Å"here this fellow calls himself the Misfit is a loose from the Federal Pen and headed to Florida. (497)†¦. giving the reader the first clue that the family will eventually run into the Misfit. Page 5 The author’s symbolism throughout the story represents faith/lack of, and death. When the family stray’s from the course in which they set out on where they eventually are murdered symbolizes how people often stray from their faith in Jesus. Even the town â⠂¬Å"Toombsboro† is a symbol of death. The graveyard on the plantation is a concrete symbol of death. â€Å"It was a big black battered hearselike automobile,† symbolizes death has arrived. The author brings the reader to the conclusion that modern society is drastically changing for the worse. Every day we see the evil growing and prevailing in our society. And in the story the author suggests that if everyone would find Jesus our society would once again operate on Christian morals, values and beliefs. If we teach our children about spirituality and respect while holding them to the up most standards we would be fixing the future of our nation. Works Cited â€Å" A Good Man is Hard to Find† Flannery O’Connor / Literature and its writers 6th edition 1955 How to cite A Good Man Is Hard to Find By Flannery O’Connor, Papers A Good Man Is Hard to Find by Flannery O’Connor Free Essays In â€Å"A Good Man is Hard to Find†, by Flannery O’Connor, the theme is grace, the idea that nothing we do can save us from our own faults. In the beginning of the story, the grandmother talks about how you cannot even trust anybody in the world, while she is actually being more untrustworthy than those of the world. After reading the story, you can see how her actions and her words are ironic because she is actually lying and cheating the family. We will write a custom essay sample on A Good Man Is Hard to Find by Flannery O’Connor or any similar topic only for you Order Now Analyzing the characters, setting, and irony of the story, we can see how trust is a major issue throughout the story and how they have a rather dysfunctional family. In â€Å"A Good Man is Hard to Find,† the characters are important because their thoughts and actions mold together and make the story what it is. If there were one character missing, the story would not be the same. The mother is a character that hardly plays any role, and hardly ever says anything. Also, in the wreck, the mother was the only one who got hurt. The main thing the mother does is take care of the baby. With that being said, the character of the baby is mostly just to take up the mother’s attention. Also, taking some of the grandmother’s attention when she holds the baby in her lap for only a few minutes during the ride. June Star is Bailey’s daughter. Throughout the story, we learn that she is a rather disrespectful little girl. She makes rude remarks to everyone like â€Å"I wouldn’t live in a broken-down place like this for a million bucks† (O’Connor, 408) to Red Sam’s wife when talking to the baby. For the most part, she is just a bothersome little girl. Her brother, John Wesley, is almost just as bad. During the story, he mostly torments the grandmother and kicks the father’s seat repeatedly throughout the whole car ride. He, along with June Star, is disappointed when they realize there were no fatalities in the car accident. Red Sam is the restaurant owner where the family stopped to eat. Red Sam states, â€Å"a good man is hard to find† (409), when explaining to the grandmother about the men who never paid their tab. He wants to see the good in everybody, but explains, â€Å"Everything is getting terrible. I remember the day you could go off and leave your screen door unlatched. Not no more. † (409) Bailey is the grandmother’s only son. He is June Star and John Wesley’s father, also the driver of the car. Bailey likes to think that he is in control of everything, when in reality he is not. He lets the grandmother persuade him into going to Tennessee instead of Florida, where he had primarily intended on taking his family. Bailey and John Wesley are one of the first the get shot after the accident. The grandmother in the story is rather manipulative. From the beginning to the end, she is constantly nagging and talking the family into different plans. Not only is she this way towards the family, but she also tries to talk the Misfit out of killing her and tries to convince him that he is a good boy. She does so by saying things like â€Å"You’ve got good blood! I know you wouldn’t shoot a lady! I know you come from nice people†¦Ã¢â‚¬  (415). Also, the grandmother is very conceited; an example would be when the narrator says, â€Å"In case of an accident, anyone seeing her dead on the highway would know at once she was a lady† (406). The grandmother is so tied up with herself that she doesn’t want to admit when she is wrong, when on several occasions in the story, she is wrong. The Misfit is a character who comes along towards the end of the story. Arthur Bethea describes â€Å"The Misfit† is an anti-Christ. Jesus loved children, whereas children make the anti-Christ Misfit ‘nervous’† (247). He, along with his two-gang men, has escaped from prison and now on the loose. They come along after the accident, looking like they are going to be good Samaritans, when actually they turn out to be murderers on the run. Along with the role the characters play in the story, the setting is also essential in which it starts in the house, moves to the car, and ends in the woods. At the beginning of the story, all the characters are in the house in an unknown city, debating on where they will go on vacation. Of course, the grandmother does not want to go where Bailey has planned. After they argue and figure out where they will go, they get in the car and head for Tennessee. While riding in the car, the grandmother starts remembering her childhood and demands that Bailey go to an old plantation she remembered. Putting them off track, they end up on a dirt road in Georgia where the grandmother realizes but does not say that they are in the wrong spot. After having a car accident, they family ends up in a ditch in the middle of nowhere. Little by little, each character is taken into the woods and do not return. In the woods is where the story ends, where the Misfit and his gang members ultimately kill the whole family. The characters and the setting are both important, and they come together to create irony that is shown throughout the whole story. At the beginning of the story, the grandmother tells us â€Å"The Misfit is aloose from the Federal Pen and headed towards Florida† (405) this being her reasoning for not wanting to go to Florida. Little did they know, along the way, the grandmother would get them lost and lead them right into the Misfit’s path. Before coming intact with the Misfit, the grandmother had nothing good to say about him and judged him without knowing the slightest thing about him. Not until later, when coming face to face with him, she automatically changed her tone when she knew that her life was in jeopardy. Another example of irony would be dealing with the cat. At first, the cat was not supposed to come along on the trip. With the grandmother being so hardheaded, she brought the cat along anyways. The cat jumped up, which is when the accident happened. If the grandmother had just done as Bailey said and left the cat, then the accident may not have ever happened. After analyzing the characters, setting, and irony of â€Å"A Good Man is Hard to Find,† we see how these elements are essential for this story. We can see how certain behaviors of certain characters, like the Grandmother, lead to dangerous circumstances. If only the Grandmother would not have thought she was superior and had to have everything her way, the entire ruckus would not have happened. Work Cited Bethea Arthur F. â€Å"O’Connor’s A GOOD MAN IS HARD TO FIND. † Explicator 64. 4 (2006): 246-249. Academic Search Premier. Web. 18 Feb. 2013 O’Connor, Flannery. â€Å"A Good Man is Hard to Find. † Literature 8th ed. Eds Laurie Kirszner and Stephen Mandell. Boston:Wadsworth, 2013. 599-621. Print. How to cite A Good Man Is Hard to Find by Flannery O’Connor, Papers

Disability in Society free essay sample

Students with disability have to confront many different barriers throughout the years they spend at school. Focusing on the issues relevent to one impairment group: 1) Clearly illustrate the effect that these barriers may have on the quality of education that they receive, and 2) Suggest steps and measures that can be taken for these disabling barriers in education to be minimized. Impairment can be defined as when one is unable to perform certain things due to being physically or mentally unfit. The International Classification of Functioning, Disability and Health: Children and Youth Version (ICF-CY) regards disability as neither purely biological nor social but instead the interaction between health conditions and environmental and personal factors. Disability can occur at three levels: †¢ an impairment in body function or structure, such as a cataract which prevents the passage of light and sensing of form, shape, and size of visual stimuli; †¢ a limitation in activity, such as the inability to read or move around; †¢ a restriction in participation, such as exclusion from school. The Convention of the Rights of Persons with Disability (CRPD) states that â€Å"persons with disabilities include those who have long-term physical, mental, intellectual or sensory impairments which in interaction with various barriers may hinder their full and effective participation in society on an equal basis with others† In the past, students with any type of impairment have been marginalised from society. Parents did not send them to school and they spent most of their days at home hiding from society. This was especially visible in those students who suffered from a physical impairment. Being physically impaired was considered to be a stigma. Nowadays the situation has improved. Students with a physical impairment are joining local schools and are no longer being hidden at home. The mentality within society that physically impaired people are some sort of other species has started to change, and in my opinion great progress has been done. However, having said this, there are still many barriers which physically impaired students have to encounter during  the days they spend at school. Throughout the years, models of disability have been developed. Models of disability help us to understand how people with impairments experience their disability. The two most influential models of disability are the medical model and the social model. The medical model states that disabled persons need to adapt themselves in order to fit into society and society need not make any changes to accom odate the disbaled persons. Disabled persons are seen as the problem in society and they must adapt. On the other hand, the social model (which has been developed by disabled persons) argues that society is responsible for the cause of disability due to the way it is organised and to the barriers which exist which discriminates against people with impairments and excludes them from involvement and participation. Therefore the social model states that society needs to cater for the needs of the disabled and eliminate the barriers which are present. Barriers for physically impaired people exist everywhere: at the work place, roads, shops, schools etc. I shall be focusing on barriers present at schools. Barriers which exist for physically impaired students within schools include: bullying, certain areas of the school which are not easily accessible, toilets which are not specifically designed for them, non inclusive education, other students do not integrate with him etc. All these barriers will obviously have an effect on the quality of education that a student with a physical impairment, such as Spina Bifida, will receive. In the case of bullying, it is quite obvious that the disabled student will not be enjoying his time at school. This will be making life at school hell for the student in a wheelchair. The student will thus not regard the school as a place where he can meet with his friends, socialize and learn. Therefore for this particular student, education will be inexistent within the school. Because education is not only based on academic achievement, bullying will not only reduce the quality of education received, it will eliminate education for the concerned student in my opinion. â€Å"Gathered in the school playground which seemed harmless in a simple sense echoed back to me in memory with most painful force. Words like ‘cripple’, ‘spas’, ‘mental’, ‘stupid’, ‘clumsy’, ‘blind as a bat’, and ‘deaf as a post’. † Sandy Slack in Corker and French (1999) Another barrier which has an effect on the quality of education that a child, with Spina Bifida confined in a wheelchair, will recieve is that certain parts of the school may be inaccesible or difficult to access for the child in the wheelchair. This can be quite of a problem especially if the school does not have a lift and a special WC. This can make simple things, like going into class, very difficult for a student in a wheelchair. They can make the student feel uncomfortable asking for assistance especially in the case of the WC. These situations might make the student see the school as an environment which is not suited for him, as a place where his needs are not catered for and also a place which presents situations that make him feel uncomfortable and perhaps shy. This will have an impact on the education he is receiving. Another barrier present in Maltese schools is the fact that most disabled students feel that they are alienated from their peers. They have very few friends and are unpopular. Most of the time other students label them by refering to them as less fortunate, crippled, brave etc. This puts them at a greater distance from their peers and has a great impact on their self-esteem. In an interview with parents of disabled students viewed on youtube the parents commented that their children were very sad when they were not invited for birthday parties and other events. Most of the times their children did not feel a sense of belonging in the schools and they started to dislike school and did not want to attend anymore. Their grades were also getting lower. In one particular case, the disabled child described friendship as the lack of malice rather than the sense of belonging and other traits which friendship is associated with. Therefore it can be seen that loneliness at school is a barrier which is reducing the quality of education being given. A lesson which does not include all the students is also a barrier for the disabled child’s education. Some lessons are not planned well to cater for the needs of a child who is physically impaired. The Physical Education lesson is one of the most evident cases where a child in a wheelchair is left on the side or simply stays tossing a ball on his own. A P. E lesson in which the physically impaired child is not included well within the lesson will make him feel greatly inferior to the other students and regard himself as a burden on other students when the teacher just puts him in a team to play with the others. In Paul Hunt’s seminal edited collection Stigma:The Experience of Disability (1966), Margaret Hill recollects her childhood memories of sport at school: â€Å"The ‘I wants’ of childhood become ‘I want to be normal’; ‘I want to run in races, play football, netball, tennis, like the others’. The reply from his classmates is invariably the hard truth: ‘We don’t want you; you are too slow; we shall never win if you are with us’; and when it is time to ‘pick teams’ the disabled child is always left until last† It is not only the P. E lesson which needs to be inclusive but all the other lessons which might involve some form of movement such as experiments in science and group work. All these barriers in education can be minimized if not also removed. In the case of bullying, schools can make an extra effort on the disabled children by keeping an extra eye on them to spot any bullying which is happening especially during break time. When this is spotted the teacher should stop it immediately, and tell the bullies that his life is already difficult as it is and try to make them emphatize with the disabled child. Communication with the parents is also important as the child might be experiencing bullying at school and only informing his parents about the issue. Helping the bullies understand his situation might make the accept him more and maybe become his friends. In the case of not being accepted and not having friends, the school might set up some social clubs during break time in which everyone is free to attend. The teachers can also spend some time during break speaking to the the disabled child if he is alone and can also invite other students to join in the conversation. This goes hand in hand with inclusion. If the child is included within the lessons this will help him to socialize and communicate with his peers. Inclusion is the key to breaking many barriers present in our schools. The inclusion policy can now be seen present in many of Malta’s school policies. This has been enforced by the Equal Opportunities (Persons with Disability) Act which was published in 2000. Maltese schools are nowadays giving equal opportunities to every student. Teachers must continue to be given training on how to put the inclusion policy into practice. I remember my secondary school P. E teacher who had organised a wheelchair race for us in order to include a particular student with Spina Bifida who was in a wheelchair. The student was extremely excited to show us how to use a wheelchair and surely felt included. This is a perfect example of how to put the inclusion policiy into practice and it’s benefits. In the case of the school not having the appropriate facilities to cater for physically disabled students the school can ask the government for some funds. The school might organise some fundraising events in order to collect enough money to be able to build the appropriate facilities. By doing this small effort we can all help in order to improve the quality of education being given to physically disabled students within Malta’s schools. This can only be done by working collectively together to bring down these barriers which are hindering the students from having truly a positive experience at school.

Report on UBL Essay Example

Report on UBL Essay Executive Summary UBL is the second largest bank of Pakistan with assets of over Rs. 550 billion and a solid track record of forty six years in addition to the convenience of over 1400 branches serving its customers throughout the country and also at several overseas locations. In this 8 weeks internship program I have worked in Regional Credit Administration Departments (MIS section, Processing section, Documentation section) of this high class bank of Pakistan where I have learned about banking from experienced managers running these sections. During my internship I have found that in banking sector concentration and consistency is of utmost importance. Your little mistake can create a big problem. I have been worked in credit administration department for eight weeks, two weeks in Processing section, two weeks in Documentation section and four weeks in MIS section. This report contains the information and learning about UBL that I learnt during the 8 weeks internship period in United Bank limited. This report deals with Credit Administration Department in which I worked. Recognizing the need of Islamic banking, UBL also provided number of Islamic banking services like Islamic Deposit Schemes and Islamic Fund Based Facilities. At the end of the report, on basis of my observation during internship, financial analysis and SWOT analysis of UBL is provided. Suggestions are also recommended as per learning from analysis. This report will provide a better and brief learning about United Bank Limited. Background of Organization [pic] History of Banking â€Å"Bank is a pipeline through which currency moves into and out of circulation. Bank accepts deposits and repays cash to its customers on their demand. The Bank borrows money at a lesser rate of interest and lends it to the borrowers at a higher rate. It is thus a profit-lending concern. Bank cannot lend all the money that has been deposited with it. It has to keep a certain portion of the total deposits in cash with them in order to meet the cash requirements of the individuals and business concern. Banki ng History Word Bank is said to be derived from the words Banc us or Banque or Bank. The history of banking is traced to as early as 2000 BC. We will write a custom essay sample on Report on UBL specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Report on UBL specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Report on UBL specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The priests in Greece used to keep money and valuables of the people in temples. These priests thus acted as financial agents. The origin of banking is also traced to early goldsmiths. They used to keep strong safes for storing the money and valuables of the people. The persons who had surplus money found it safe and convenient to deposit their valuables with them. The FIRST STAGE in the development of modern banking, thus, was the accepting of deposits of cash from those persons who had surplus money with them. The goldsmiths used to issue receipts for the money deposited with them. These receipts began to pass from hand to hand in settlement of transactions because people had confidence in the integrity and solvency of goldsmiths. When it was found that these receipts were drawn in such a way that it entitles any holder to claim the specified amount of money from goldsmiths. A depositor who is to make the payments may now get the money in cash from goldsmiths or pay over the receipt to the creditor. These receipts were the earlier bank notes. The SECOND STAGE in development of banking thus was the issue of bank notes. The goldsmiths soon discovered that all the people who had deposited money with them did not come to withdraw their funds in cash. They found that only a few persons presented the receipt for encashment during a given period of time. They also found that most of the money deposited with was lying idle. At the same time, they found that they were being constantly requested for loan on good security. They thought it profitable to lend at least some of the money deposited with them too the needy persons. This proved quite a profitable business for the goldsmiths. They instead of charging interest from the depositors began to give them interest on the money deposited with them. This was the THIRD STAGE, in the development of banking. By experience the banks came to know that they could keep a small proportion of the total deposits for meeting the demands of customers for cash and the rest they could easily lend. They allowed the depositors to draw over and above the money actually standing to their credit. In Economics terminology we can say that they allowed the overdraft facilities to their depositors. This was the FOURTH STAGE, in development of banking. When every bank issues receipts and most of them allowed the overdraft facilities, there was then too much confusion in the banking system. The banks in order to earn profits could not keep adequate reserves for meeting the demands of the customers for cash. The failures on the part of the bankers to return money caused widespread distress among the peoples. In order to create confidence among the people, steps were taken to regulate the banking organization. A conference was held in Nuremberg in 1548. It was decided that a bank should be set up by the state, which should streamline the banking organization and technique. The first central bank was formed in Geneva in 1578. Bank of England was established in 1694. The responsibility of issuing of notes is now entrusted to a central bank of each country. Commercial Banking in Pakistan At the time of partition total numbers of Banks were 38 only. Out of these Banks the Pakistani Banks were only 2, Indian Banks 29 Exchange Banks were 7. The total of deposits of Pakistani Banks was Rs. 880 Million. advances were Rs: 198 Million. According to banking companies ordinance Banks are the companies, which transacts the business of Banking in Pakistan. Commercial Banks have constituted the most important part of the intuitional credit in the economy of Pakistan. Being the largest source of credits, Banking Industry is a pivot of whole the economic activities in Pakistan. Section 37(2A) of State Bank of Pakistan Act 1965 lays down that the Banks must have paid-up capital reserve of not less then Rs: 5 Lac fulfilling certain other requirements for declaring as â€Å"Scheduled Bank†. At the time of independence Bank services was badly affected. But with the passage of time these are improving. The government of Pakistan nationalized all Banks in early 1974. This act was done to minimize control of few hands over banking. But this step was proved e futile for the Banking in Pakistan. So the Govt. had to revise its decision in1990. Two Banks (Allied Bank Of Pakistan Limited Muslim commercial Bank Of Pakistan Limited have been denationalized. Since then Banks were working well. Now slogan of the Banks is to serve their customers in the best possible manner. Professor Berton: â€Å"Banks are the guardian distributor of money â€Å". Similarly we can say that it is a pipeline thorough which currency moves into outside the circle. Banks accept deposited of money and repay it on demand. Bank borrows money at lesser rate of interest lends it at higher rate of interest. In this way Banks earn money. Bank do not lend all money they collect, they keep certain portion of it as reserve to meet the uncertain demand of the customer. [pic] Functions of a Commercial Bank In general terms the functions of a commercial bank can be classified under the following main heads. Accepting Deposits Some people have excess money and they want to deposits it to some honest man or an institution which can give them some profit. So the first function of commercial bank is to receive deposit there are three types of deposits. Demand Deposits or Current Deposits Some people deposit their excess money in the current accounts and they can withdraw their money deposited in this account at any time during the banking hours, so bank is not ready to give interest on it Fixed Deposits These deposits are fixed for a particular period. Commercial banks also pay an interest on these accounts. An important thing related to it is the varying interest rates for the different period deposits. Interest rate increases with the increase in the fixed deposit period. Saving Deposits To create the habit of savings, bank accepts the saving deposits and pays an interest on these deposits. And this rate of interest is greater than the demand deposits. Advancing Loans Bank also advances the loans to the merchants and charges the interest. It is the major source of its income. It also issues the loan for short term, medium term and for long term. And bank receives the higher interest from the borrower for the long term loans offered. Discounting of Bill Commercial banks also discount the bills and facilitate the business; for example one businessman purchases anything from another person and promises to pay after one month. The seller will write a bill to the buyer and there will be an order that after one month the buyer will pay the amount to the seller. Buyer will sign on the bill. In other words buyer will accept the responsibility of that amount. If seller is in need of money, he will take it to the bank and will receive the money by discounting the bills. The commercial bank also may rediscount it from the central bank. Cheap Medium of Exchange By issuing cheques and drafts bank provides cheap, medium of exchange. Transfer of Money The commercial bank is very helpful in transferring the money from one place to another by issuing the drafts. This is very popular concept in the modern world and widely used in the business community. Custodian of Precious Articles Banks also provide lockers for the safety of precious articles. So now everyone can secure his precious metals like gold, silver, etc. , and bank charges a very nominal charge for this facility. Agency Services Commercial Banks also perform the duty of an agent. It collects and pays on the behalf of the customers. Investment On behalf of the customers all the banks also make an investment in different companies and industries. And banks receive nominal charge from the customers. Creation of Credit It also creates and extends the volume of credit. Facilitating Trade Activities It also provides the finance to the foreign trade. Letter of credits are issued by the commercial banks for the foreign payments. Purchase and Sale of Securities The commercial bank purchases and sells the securities, for itself and sometimes on the behalf of the costumes. Acting as a Trustee If a client directs his bank to act as a trustee in the administration of a business, the bank performs this responsibility. Role of Commercial Bank in the Economic Development of Pakistan Banks play an important role in the economic development of country. If our Banking system is not in accordance to the economic requirement then how it can play a vital role in our developments. The State Bank of Pakistan is at the apex and all the commercial Banks have to follow the rules of State Bank of Pakistan. Role of the banking sector can be judged by the following facts: Saving Mobilization The commercial Banks namely United Bank Limited Pakistan, Habi Bank Ltd, Allied Bank Of Pakistan Ltd. National Bank has opened Branches in urban areas rural areas to mobilize savings of people. Financing of Development Projects Banks other financial institutions like ADBP, IDBP, and PICIC etc. Advances short medium terms loans for financing of the development projects both in the private public sectors . So they helping to accelerate the rate of progress (Economic) in the country. Enhancing Trade Activities The credit institutions collect the savings of people make them available for facilitating the trade activities both inside outside the country. Creating Climate for Capital Formation A developed baking system stimulates the growth of economy by creating favorable climate for capital formation in the Country. Help of State Bank of Pakistan in Achieving Monetary Publishes Commercial Banks under the supervision guidance of the S. B. P help in implementing achieving the objective of monetary policy, which vary from time to time. Assist In Planned Development Commercial Banks are profit-seeking enterprises. In order to maximize profit they have the incentive from S. B. P to maximize the limit of finance. An organized Banking system keeps balance between the liquidity * profitability, thus assists in the planed development of the Country. Profit Sharing Scheme Commercial Banks receive surplus balance of the households and business pay interest on the deposit of client. The depositors instead of having a fixed return on the deposit will share in the profit loss of the Bank. The profit loss scheme arrangement is the alternative to interest, under an Islamic economic system, which is since on the experimental basis in Pakistan. Introduction to United Bank Limited UBL is the second largest bank of Pakistan with assets of over Rs. 550 billion and a solid track record of forty six years in addition to the convenience of over 1400 branches serving you throughout the country and also at several overseas locations. Date Established November 7, 1959 Chairman His Highness Shaikh Nahayan Mabarak Al Nahayan Branches 1400 Domestic, 19 Overseas Branches (Ten countries) Representative Offices Tehran Subsidiary United Bank AG Zurich, Switzerland United National Bank Limited, UK (Joint venture with NBP) UBL Fund Managers Limited Associated Company Oman United Exchange Company, Muscat Offshore Banking Unit Export Processing Zone, EPZ Branch, Karachi, Pakistan Head Office State Life Insurance Corp. Building #1, I. I. Chundrigar Road, Karachi, Pakistan P. O. Box No. : 4306 Phone: (92-21) 111-825-111 Gram: UNITED Fax: (92-21) 2413492 Board of Directors ChairmanCFO Secretary Mr. Atif R. BokhariMr. Obbad Fazal Chief Executive OfficerAuditors Mr. Muhammad Ali1)KPMG Taseer Hadi co. Chartered Accountants. 2) A. F Ferguson Co. Charted Accountants Board of Directors Legal Advisor Mohsin Tayebaly CO Mr. Atif R. Bokhari Chairman/Director Mr. Mansoor KhanDirector Mr. Aameer KarachiwalaDirector Mr. Kashif ShahDirector Mr. Hassan RazaDirector Mr. Mohammad Asghar Director Mr. Ali Sameer farouquiDirector Mr. Saeed IqbalDirector Mir Muhammad AliCEO/Director Audit Committee Mr. Aameer M. Karachiwala Mr. Ali Sameer, Mr. Saeed Iqbal Hierarchy of the Management [pic] Credit Rating Credit Rating by JCR VIS Credit Rating Company Limited June 30, 08 Long Term Rating: AA +’ United Bank Limited is one of the largest Commercial Bank in Pakistan. The Banks long term rating is AA +, which denotes good credit quality. Protection factors are strong. Risk is modest but may vary slightly from time to time because of economic conditions. Short Term Rating A-1+ The short-term rating is A-1+, which denotes the highest certainty of timely payment. Short-term liquidity, including internal operating factors and / or access to alternative sources of funds, is outstanding and safety is just below risk free Government of Pakistans short-term obligations. Term Finance Certificate Rating TFC I: AA TFC II: AA TFC III: AA TFC IV: AA Business Operations [pic] Reorganization of Domestic Operation In 1986, the organizational structure of domestic operations of the bank was reformed and decentralized on the basis of provinces. As a result provincial headquarters were established at Karachi, Lahore, Peshawar and Quetta in order to meet the needs of sanctioning loans and other facilities to the trade, industry and agriculture of each province. Azad Kashmir was serrated from NWFP and made separate region. The quantum of work immensely increased due to the growth of economic activities and phase of industrialization and other change in Punjab and Sindh. It was also considered necessary to improve the quality of advances and to expedite the recovery process of the loans and advances. Formation of Regional Headquarters The provincial chiefs of Punjab, Sindh, NWFP, and Baluchistan are ceased to function and in their place nine regional chief executives started functioning in the nine major cities. The new segmentation of UBL’s branches on the basis of regions can be looked from the following: Province Wise Region Allocation Provinces |Regions | |Punjab |Islamabad | | |Lahore | | |Lahore East | | |Lahore West | | |Faisalabad | | |Multan | | |Karachi | |Sindh |Hyderabad | | Peshawar | |NWFP | | |Baluchistan |Quetta | | |MuzafarAbad | |Azad Kashmir | | Locations With an integrated network of over 1400 branches in Pakistan as well as Overseas, UBL gives direct access to a comprehensive range of better banking facilities to help monitor the business locally as well as internationally. [pic] Community Services UBL is committed to the welfare of Pakistan. It lends to farmers for the purchase of tractors, superior quality seed and fertilizers. UBL further fosters the individual welfare and well being of the common man by lending house building finance and loans to set up small businesses. UBL has played a leading role in the dissemination of Computer Technology in Pakistan and is dedicated to the promotion of sports. †¢ Agricultural Loans †¢ Small Business Scheme †¢ UBL Computer Training Institute †¢ Staff Colleges of UBL †¢ UBL Sports Complex Agricultural Loans UBL’s agricultural loans on easy terms and conditions to small-scale land owning farmers boost the country’s economy and yield greener harvests. UBL enables farmers to buy good quality seeds, fertilizers, pesticides and agricultural implements. Small Business Scheme Under the Small Business Scheme, UBL is providing loans on easy terms to those who wish to set up their own small-scale business. This scheme is aimed at spreading prosperity in the country by reducing unemployment. As more and more people start their own industrial units, the country will move steadily towards economic self-reliance. UBL Computer Training Institute UBL is a pioneer in the computerization of banking in Pakistan, and now plays a leading role in the dissemination of Computer Technology in Pakistan and is proud to be a part of the Government’s Computer Literacy Program aimed at preparing the younger generation to meet the challenges of tomorrow. UBL, the leading user of Computer Technology in the Banking Sector has set up most modern facilities at Muzaffarabad, Azad Kashmir, and Sheikhupura for imparting training to the educated youth under the Government’s Computer Literacy Program. These centers are equipped with state of the art hardware and audio-visual aids and are manned by experienced professionals. Staff Colleges of UBL The UBL has three staff colleges, which are generating banking trained personnel. These colleges are at Karachi, Lahore and Rawalpindi, established in 1964, 1978 and 1977 respectively. These staff colleges are providing facilities of training to the employees of the bank so as to meeting the growing need of the banking field and coping with the changing environment of the country. UBL Sports Complex In addition to providing professional banking services, the bank continued to play an important role in the promotion of sports in the country. Towards this end, the bank has already constructed a big sports complex in Karachi, where all types of facilities for sports like cricket, hockey and flood light courts for tennis and basketball have been provided. Corporate Banking Our mission is to serve all your corporate needs and ensure your full satisfaction through product innovation, personalized banking, and top notch service. The CBG department of UBL defines corporate banking in Pakistan. Amongst the local banks UBL CBG is the pioneer in providing innovative solutions to its diversified and satisfied customer base. UBL CBG is considered to be a major player in the financial market of Pakistan. The Corporate Banking Group focuses on attracting and servicing large portfolio customers. Our forte is providing exemplary customer service using the Single Window concept and product superiority. The Relationship Management team manned by highly qualified individuals from the industry has steadily expanded our customer base and continues to enhance our cordial relations with our esteemed clients. Despite the sluggish economic growth in recent years, UBL outperformed all the other local banks in the corporate banking sector primarily due to CBGs emphasis on establishing and enhancing relationships with foreign/local blue chip and middle market customer’s thereby capturing significant market share. UBLs appetite for large exposures coupled with dedicated Structured Finance Unit, and an innovative team of professionals having extensive experience of Corporate Banking gives it the right platform to succeed in todays competitive and a demanding environment. The success of CBG has been established from the fact that UBL received the No. Euro money 2000 Best Local Bank award and recognized it to have out performed all other banks. In year 2000, UBL was also voted as the best Corporate Bank by the customers of a major foreign bank in a survey. Aggressive marketing combined with professionalism has led to an increase in UBLs market share with top corporate customers and in some cases replacing Foreign Banks. Presently, its portfolio includes the quality names in the country, which were initially confined to foreign banks only. Customer Service CBG – Offers full spectrum of services |[pic] |  | Relationship Banking This forms the pillar of our strategy as it is the primary tool towards providing you full satisfaction. Relationship Banking involves: ? Assessing and understanding customer needs ? Providing you advice on your business needs ? Helping you find viable financial solutions for your business problems ? Acting as the primary contact for you Customer Service We believe in customer retention through quality service that would encourage you to continue to bank with us your loyalty. Our UNISERVICE concept strives to attain excellence in customer service. We aim to provide total customer satisfaction through UNISERVICE, which will soon be available at our full-service branches covering: ? Trade finance ? Letters of Guarantee ? Letters of Credit Funds Transfer ? Remittances ? Bill Discounting ? Export Financing ? Credit Extension Product Range When you come to UBL, you get a full range of Products and Services to choose from: Corporate Finance ? Loan Syndication ? Structured Finance ? Term Fi nance Certificates Finance/Credit Extension ? Local Currency Facilities ? Overdrafts ? Demand Finance ? Working Capital Finance ? Import Financing ? Receivable Discounting ? Pre and Post Export Financing ? LMM Funding Trade ? Documentary Letters of Credit ? Standby Letters of Credit Guarantee ? Documentary Collection ? Funds Transfer Investment/Cash Management ? Current PLS Accounts ? Foreign Currency Cash Collection ? Utility Bill Collection ? Capital Market Hybrid Products ? FX Spot, Forwards and Hedging ? Rice/Cotton Financing for Ginners Investment Banking UBL IBG is now known as UBL Fund Manager (UFM). UFM specializes in providing innovative  and unique advice to its clients to  assist them in meeting challenges in an ever-changing market UFM consists of twelve dedicated professionals supported by over 30 relationship managers in six different locations. Rich execution experience ensures  seamless deal closures currently in the process of setting up  fund management f acilities. An active player in the market Current mandates add up to over Rs. 6 billion a healthy mixture of structuring,  advisory and project finance business either leading or participating in almost all the major TFCs Greater flexibility in deal structuring due to access to UBL’s financial resources Close liaison and top-level contacts  with Ministry of Finance, Securities and Exchange Commission of Pakistan,  Karachi Stock Exchange, State Bank of  Pakistan for swift execution Services [pic] Overseas UBL, with an integrated network of over 1400 branches globally, with 19 overseas locations, gives you direct access to a comprehensive range of better banking facilities to help you monitor your business internationally. We have branches in: ? United States of America ? Qatar ? UAE ? Bahrain ? Republic of Yemen Off Shore banking Unit and subsidiaries in: o United Kingdom o Zurich Credit Administration section When the credit facilities are approved then work of credit administration department starts. It performs two functions: †¢ Pre-dispersal function (before advancing facility) †¢ Post-dispersal Function (after credit facility is dispersed) It keeps three sections named as: †¢ Processing Section †¢ Documentation Section †¢ MIS (Management Information System) Section Relationship managers (RM’s) bring cases from customers and present to RCAD. RM’s have direct contact with customers. Case first comes to Processing Officer who checks the necessary prudential requirements if so then case is forwarded to Risk Management Department (RMD) otherwise send back to ( RM) to fulfill necessary requirements. Risk Management Department (RMD) verifies attached documents and send back documents after risk analysis and mention how much loan is to issue (under SBP limitations). Documentation Officer verifies the originality of documents attached and finally DAC (disbursement authorization certificate) is issued to customer. MIS keeps record of the customer in computer. And customer account is opened in the UNI bank (it is also software which keeps record that how much loan the customer has availed). Under mentioned process flow diagram present the right picture. Process Flow Diagram of Loan Disbursement [pic] My Learning as an Internee [pic] My Learning in the bank I worked in credit departments Credit Department Deposits are the liabilities of bank while advances are the assets of the bank. To balance these two sides, bank attracts the current as well as prospective customers to deposit their savings by offering high rate of interest/ profit, while in order to increase its assets, bank attracts its customers by Corporate Banking Group (CBG). The Corporate Banking Group at United Bank Limited is dedicated to providing its clients the highest level of service possible. United Bank Limited is dedicated towards developing relationships with corporate clients to service their financial needs worldwide. The Corporate Banking Group manages a high quality asset portfolio being an active player in many sectors including textile, sugar, leather, pharmaceutical, fertilizer, petrochemical, power, automotive, telecommunications, oil and gas distribution, marketing and refining and fast moving consumer goods industries. United Bank Limited offers a full range of financial services to support any or every part of a customers’ business transaction. Each solution is tailored to meet their specific business objectives. Working Capital / Term Loan Corporate banking group works closely with customers to understand the dynamics of their business so that it can anticipate and serve short-term and long-term funding needs in the most efficient manner, drawing from the full range of its resources and capabilities. Small and Medium Enterprise Group SME Group strives to apply a unique blend of finance, industry and technological expertise to keep pace with dynamic markets and translating insights into solutions that meet diverse financial needs. Documents Required for Providing Credit facility All facilities whether long or short term in nature is reviewed annually to evaluate that how a borrower has performed during its most recent fiscal year. Such reviews are conducted based on written analysis. Such analysis communicates to the credit approving officers the information needed for arriving at a credit decision. A credit presentation package consists of the following documents: ? Credit Approval (CA) ? Obligor Risk Rating Form ? Basic Information Report ? Borrower Basic Fact Sheet ? Financial Spreads ? Financial Projections (For Term Financing) ? Credit Memorandum ? CIB Report checking ? Bank/Market checking Credit Approval Package (CA) CA form is a complete document in which RM describes true position of the company. This form once completed summarizes the aggregate credit risk being approved, description of individual credit lines, and details of security obtained against each line. Credit application has two parts, in the first part we define the facilities which we provide to the customer. Like ? NICF (Hypo) ? NICF (Pledge) ? LC (Letter of credit) ? LG (Letter of Guarantee) ? FE 25 Second part of credit application consist of ten contents which describes way we giving felicities to customer. Purpose of submission / synopsis of transaction ? Industry / Strategy ? Financial Analysis ? Security Support ? Probability of Default ? Sources of Repayment ? Key Risks along with mitigating factors ? Relationship Strategy ? Conclusion Approver’s Comments / Observations In each of above content we have to write clear description about the customer Borrower Basic Fact Sheet (BBFS) It’s the responsibility of relationship manager at credit department to collect as much information about custome r as possible at the time of initiation of a relationship. BBFS consist of true information about the customer, board of directors and their residential addresses. Basic information Report (BIR) It consists of industry information. If it is a group of companies, partnership or private limited then it consists its business code. It also provides actual business address, phone number, industry name etc. MIS officer consider BIR while putting informations in CARS (Credit Analysis and Reporting System) Obligor Risk Rating Form (ORR) This form enables to weigh all United Bank Limited credits regardless of type, nature, or location of the borrower. Risk ratings are assigned on an obligor level on a scale of 1 to 10, 1 being the highest quality risk and 10 being the lowest, classified as doubtful of recovery. Risk Ratings are assigned and approved when credit is initially extended and is updated annually. Risk rating is also reviewed immediately and accordingly adjusted, if necessary, whenever there is a material adverse event such as adverse classification of the credit facilities. Financial Spreads Purpose of this form is to meet financial analysis requirements. This form consists of five pages, which are developed on â€Å"Excel† system. A summary of financial statements is automatically generated which also provides key financial indicators, growth historic patterns, and ratio analysis. Relationship manager analyzes three years historic audited-financial statements, as well as the recent financial statements. Financial Projections Financial projections are prepared by customers, which forecast their performance in near future. Financial projections help credit department to determine the expected assets and liabilities position and cash generating ability to repay debts. Credit Memorandum Credit decisions are made on the basis of the contents presented in this document. Credit memorandum is prepared with precision and accuracy of information. A well-structured credit memorandum usually evolves around the following topics: †¢ Purpose of presenting the credit memorandum †¢ Relationship background of borrower with United Bank Limited †¢ Relationship profitability †¢ Relationship strategy †¢ Management assessment †¢ Financial Analysis Bank/Market checking These checking provide unbiased information about borrower, which is obtained, from his customers, competitors, and suppliers. Credit checking on borrower is also obtained by manager from his bank. CIB (Credit Information Bureau) Report Checking CIB report depicts that how much customer has availed exposure from different banks allover Pakistan. UBL is one of few banks of Pakistan which has centralized information reporting system i. e. CARS and CREAMS. Through CARS data is directly reported to State bank of Pakistan. State Bank carries informations from all of the banks in Pakistan and shows full exposure of the very customer in CIB report. Covenants Check-offs In term lending multiple covenants, financial as well as qualitative, are imposed by lenders. At the time of annual review of the term facilities it is checked that if borrower adheres to these covenants. Steps involve in Credit advancement process includes: †¢ Customer relationship (customer must open current account with the bank) †¢ Customer’s facility request †¢ Credit application †¢ Facility offer Types of Loans Basic purpose of credit department is the advancement of loans to its customers. Loans are basically of two types: Funded Facilities In funded facilities bank’s cash is physically involved. Funded facilities include: Running Finance Term Finance Finance against Bill Purchased (FBP) ? FBP (Own Acceptance Purchase) ? FAFB (Finance against Foreign Bill) ? Export Refinance Part-I SBP (pre-shipment) ? Export Refinance part-I SBP (Post-shipment) Export Refinance part-II (SBP) ? Forced Acceptance ? FIM (Finance against Imported Merchandise) ? FATR (Finance against Trust Receipt) ? Dollar Financing (Pre-shipment) Non-Funded Facility In non-funded facility bank’s cash is not physically involved. Non-Funded facilities include: o Sight L/C o Usance L/C o Acceptance o Guarantee (L/G) Term Finance It’s a long-term finance facility, which is acquired to purchase fixed assets of a business. Customer borrows from bank a fixed amount repayable either in periodic installments or in lump sum at a fixed future time. Utilization of term finance decreases with the payment of installments. Payment tenor ? I year Over 1 year ? 1-5 years Syndicate Financing Such financing is used to finance some mega project. Equity of the firm is considered when providing this type of financing. The credit-requesting firm must maintain its 40% equity. To meet remaining capital requirements the firm signs a syndicate in which three or four banks jointly finance the project. One of these banks will be the leading bank, which contributes major portion of financing. So the leading bank has the major share in the installment amount received from the borrower. Money Market Deal It’s term finance. This type of financing is between banks. Diff erent banks interact with one another. If a bank has more over night funds available, which are not in use, then banks offer different rates to lend or to acquire those extra funds. Finance against Foreign Bills (FAFB) When the exporter needs finance before the payment date, he can give the bill of exchange to the negotiating bank and get the finance against that bill. In this case the bill is given as security. Ownership is not transferred to the bank. FAFB is the post -shipment finance. Foreign Bills Purchased (FBP) When the bank purchases the bills then ownership/title of security is transferred to the bank. So the bills become the property of the bank. Finance against Imported Merchandise (FIM) This type of finance is related with sight L/C. in this type of finance, the goods imported are taken by the importer’s bank as the security. As the demand for goods arise, the importer get the units of goods according to the demand from bank and pays markup and amount for that much amount of goods. Finance against Trust Receipt It is also related with sight L/C. when the goods arrive at the port, then in order to release the goods, the importer needs documents. If the importer has not yet made payments then the importer’s bank gets a Trust Receipt signed by the importer for the time period for which the bank, for releasing the goods, gives the documents to him. It’s a strong legal document. If the importer refuses to make payment after getting his goods, then the bank against him can take a strict legal action. Collateral/Securities Collateral is the amount of assets the applicant has available for use in securing the credit. The larger the amount of the available assets, the greater the chance that a bank will recover its funds if the applicant defaults, A review of the applicant’s balance sheet and any legal claims filed against the applicant’s assets can be used to evaluate the collateral. Types of Securities Pledge Pledge is the advancement of loans against the security of current assets i. e. inventory, trade receivables. In this type of security the ownership and possession of the security is with the bank. Mortgage In this type of security, the credit is given against immovable property i. e. land, building. Bank has the right to sell the property if the payment is not made. Types of Mortgage †¢ English Mortgage †¢ Equitable Mortgage †¢ Token Registered Mortgage †¢ Full Registered Mortgage English Mortgage In this type of mortgage the mortgagor (applicant) binds himself to repay the mortgage money on a certain date, and transfers the mortgage property absolutely to the bank. The banks will re-transfer both the possession and ownership of that property upon the payment of the mortgage money. Full Registered Mortgage In this type of mortgage the applicant will fully registered his property. More commission is charged in this case. Token Registered Mortgage In this type of mortgage, small portion of the property will be registered with the registrar office while the remaining will be equitable mortgage. In this way less commission will be charged. Equitable Mortgage In this type of mortgage, the bank will take all the title deeds from registrar office. A memorandum of â€Å"Deposit of title deeds† is signed by the mortgagor in whom he mentions that he is giving his property as the security to the bank. After the bank takes title deeds there will be no copy of the title deeds with the registrar. In case of equitable mortgage the ownership is with bank and possession is with customer. Bank’s Lien Lien is the banks right to withheld property until the claim on the property is paid. In lien the borrower remains the owner of the property while the possession is with the bank. Bank has no right to sell the property. Hypothecation It’s a legal transaction in which the goods may be taken as security for a debt without transferring either property or possession to the lender. It’s a security against current assets. Security is granted by means of the letter of hypothecation. Charge Charge is the right of payment out of certain property. Charge gives the right of pledge, hypothecation, mortgage and lien. Banks have to register their charge/right with SECP (Securities and Exchange Commission Pakistan). SECP maintains the records of all the companies i. e. what are the assets of companies, their board of directors. Every limited company keeps its records with SECP Charge involves ranking. Pari Passu In ranking if the customer (company) has already taken loans from other banks then SECP ranks those banks. The settlement of the loan amount will be done according to the ranking of the banks. In case of Pari Passu the bank from which the customer is going to get facility is ranked equivalent to the first/highest priority bank. in this case the priorities of other banks will decrease. For this the customer has to obtain NOC (No Objection Certificate) from other banks. Guarantees A guarantee is the promise by one person, called the guarantor, to another for answering the present or future debts of a second person called the principal debtor. Types of Guarantees UNITED BANK LIMITED issues the following types of guarantees depending on the needs of the customers: ? Tender Guarantees (Bid bonds) ? Performance Guarantees ? Advance Payment Guarantees ? Financial Guarantees Letter of Credit International trade involves numerous factors such as payment for imports in the exporter’s country, shipment of goods within the limitations prescribed and difficulties of enforcing legal rights in the foreign country etc. Therefore, to overcome these impediments a system has been enforced, this system is represented by ‘Letter of Credit. The letter of credit is today the foremost way of financing international trade. In simple words, a letter of credit (L/C) can be defined as: â€Å"A bank’s written undertaking given to the exporter for payment of a certain sum of money on behalf of the importer provided the exporter tenders to the bank, or its overseas agents, the specified documents within a specified period in accordance with the terms of the undertaking†. There are four basic parties involved in an L/C: ? Importer ? Issuing Bank ? Exporter (Beneficiary) ? Beneficiary’s Bank Advantages of an L/C Following are some of the main advantages of a letter of credit: Since a letter of credit is opened only for the importers with established credit standing, the exporter is sure of receiving the price of his commodity and there is no need to check the credibility of the importer. †¢ An exporter may obtain necessary finance immediately on shipment under a letter of credit (through negotiation, OD Buying). †¢ A letter of credit may help the importer to meet its financial difficulties. He may obtain some finances against the L/C (as FIM, FATR etc. ). †¢ Similarly, an L/C enables the exporter to obtain finances from his bank, for the operations of production even before shipment (e. g. Pre-shipment finance). Forms of a Letter of Credit Revocable L/C â€Å"A revocable letter of credit may be amended or cancelled by the issuing bank at any moment, without prior notice to the beneficiary†. This form of letter of credit gives the buyer maximum facility but it places the seller in difficult position when the goods are in transit and the credit is revoked before the documents are presented and payment has not been made on presentation which is the cause of great loss to the seller. Irrevocable L/C â€Å"An irrevocable credit constitutes a definite undertaking of the issuing bank to accept and pay the bills drawn upon it so long as the terms and conditions stipulated in the letter are fulfilled†. This form of letter of credit can be amended or cancelled only with the agreement of all parties to it. Therefore, it gives the seller complete protection. In Pakistan, all banks including united Bank are permitted to open irrevocable L/C’s only. Confirmed Unconfirmed L/C’s A confirmed credit is the one that has been confirmed by the advising bank. By confirming a credit, the bank agrees to take the liability of making payment to the seller if the issuing bank defaults for any reason. â€Å"When an issuing bank authorizes or requests another bank to confirm its irrevocable credit and the latter has added its confirmation, such confirmation constitutes a definite undertaking of such bank (the confirming bank), in addition to that of issuing bank, provided the stipulated documents are presented and that the terms and conditions of the credit are complied with. † Whereas, an unconfirmed credit is one that exclusively depends upon the issuing bank’s obligation. The parties to the present day international trade transactions prefer a confirmed irrevocable credit because it is an instrument of highest quality which ensures the payment to the seller by the advising bank while the buyer is assured of receiving the documents of title to goods, as specified in the terms of credit. Types of a Letter Of Credit There are two main types of an L/C that are being practiced. Sight L/C â€Å"If the beneficiary of a credit is to obtain payment immediately on presentation of stipulated documents, it is a Sight Credit†. In this form of credit the exporter draws a sight or demand draft (DD) payable at the counters of the advising bank or the bank specified in the letter of credit. The draft (bill of exchange) is paid on presentation provided that all the other terms of the credit have been complied with. Usance L/C When a credit stipulates payment to the beneficiary upon the maturity of a bill of exchange drawn under the terms of the credit, it is an ‘acceptance credit’, ‘terms credit’ or Usance credit†. In this form of credit the beneficiary draws a draft for a particular Usance (e. g. 30, 60 or 90 days etc. ), payable upon either the correspondent bank or the issuing bank. In normal practices, UBL opens Sight L/C’s because in Sight L/C the importer first pays the L/C amount (invoice price) to the issuing bank and then gets the possession of documents. So the bank becomes secure in this way. L. C keeps Performa invoice which keep major essentials in bullets forms. Performa Invoice Its essential elements are written as; ? Seller company name Buyer company name ? Buyer and seller company’s bank’s names ? Commodity ? Quantity ? Unit price ? Total price ? Payment procedures ? Delivery ? Port of loading ? Port of destination ? L. C beneficiary (must be seller) ? Amount and quantity with percentage of error ? L. C expiry date ? L. C opening date ? L. C must be opened before expiry date ? Vessel ( ship’s name) Qualifications for an Importer to Get an L/C Issued A Letter of Credit cannot be opened on behalf of a person unless he fulfills the following requirements: ? The person must be an account holder of UBL. ? No person can be an importer without first being registered with EPB. So the person must have valid import registration with Export Promotion Bureau (EPB) of Pakistan. This registration is not necessary for those who have been exempted from it. ? The person must process a valid membership certificate of Trade Organization, licensed and recognized by Federal Government like a Chamber of Commerce. ? The person must possess a valid NTN (National Tax No. ) certificate. ? The person must have the Sales Tax Registration Certificate. ? Obtaining of Import License is no more required. Stock Reports Stock reports are sent by the external auditors which are registered evaluators to UBL. They evaluate stock of the company lying in the godowns. They give final words whether these following essentials are up-to-date. Fire extinguishers ? Stock replacement ? Godown condition ? Guard residence permanent or not ? Stock condition ? Tagging over the stock ? Evaluation of stock in terms of million rupee ? Insurance against fire and burglary MIS officer check these report s and inspect whether these amounts mentioned in the stock reports are according to the security issued. If above mentioned any thing is not up-to-date. Then the stock report is considered unsatisfactory and debit is blocked till the company corrects its unsatisfactory items. I separated the reports which keep the unsatisfactory items. CREAMS (Credit Risk Environment’s Administration Management System) UBL is from few Pakistani Banks which keeps centralized information system. CREAMS is one of them. CREAM is highly customizable and parameterizes able software. CREAM is developed with the ideology that it can operate in all parts of the world. Certainly there are different operational, monitoring and regulatory requirements depending upon the region where the bank is operating. Further more; a single bank may operate in more than one region of the world. Parameterization lets CREAM behave according to the requirement of the region. This customization is a one time initiative and once CREAM has the requisite information, it will behave according to the bank’s requirement. This section will explain the all CREAM setup screens one by one. It must be noted the once the Parameterization phase is completed by bank then bank must lock this section. That is only authorized person (Mostly Credit Head) can enter to this section, not every one who is using CREAM application. All the Screens below have some common buttons which is going to be explaining here once with their short cut keys. Action Buttons Add Button (Alt + A): Used to add a new record Edit Button (Alt + E): Used to edit an existing record. Delete Button (Alt + D): Used to delete a record Cancel Button (Alt + C): Used to cancel a ongoing action of add, edit. Navigation Buttons First Button (Alt+F): Used to see First record. Next Button (Alt+N): Used to see the next record of the existing opened record Previous Button (Alt+P): Used to see the previous record of existing opened record. Last Button (Alt+L): Used to see the last record. Print Button: Exit (Alt+X): Used to exit from the current screen. If any one of action buttons (ADD / Edit / Delete) is disable on any screen then it means that the user don’t have a right of that action. Working of CREAMS Its working is mainly divided into three parts ? Part-1(Setup( Parameterization) Section ? Part-II( Post Granting Section ? Part-III( Transaction Section Part-1(Setup (Parameterization) Section) This part consist of many set ups but most prominent are country, region, branch, currency, about credit policy, Collateral setup etc. About Document Linkage Screen Path: Setup(Documentation(Document Linkage Screen It is the main screen we define that against which entity (like Facility, collateral) which document we require. It depends on the bank’s policy and varies from bank to bank. For example if a bank says that for the facility â€Å"FE-25, they require the document â€Å"Dollar Demand Promissory Note†. For this We Use the following screen to link the Document Dollar Demand Promissory note† against the Facility â€Å"FE-25†. This Screen is used to Link a Document against the Following entities. ? Legal Status (Also Called Customer Type) ? Facility ? Collateral ? General [pic] Field Name |Description | |Document Name |Not Given by user here. Populated here from Document Setup | | |(Setup(Documentation Setup(Document Setup. ). select the document fro m the | | |list | |Critical |If the disbursement is not possible without receiving this document then | | |marks it as a critical here. |Legal status |If a document required against the legal status (Customer type like | | |Public Limited company) of a customer then select the type as Legal | | |status. When we select the legal Status then it will show the entire type| | |name on the right. So from there the user have to select the type name. | |Facility |If a document required against the Facility then select the type as | | |Facility. When we select the Facility then it will show the all | | |facilities on the right. So from there the user have to select the | | |Facility name | |Collateral |If a document required against the Collateral then select the type as | | |Collateral. When we select the Facility then it will show the all | | |Collaterals on the right. So from there the user have to select the | | |Collateral name | |General |If there is a general type of document then select it as general. | |Linkage Action(insertion |It means the document is required only once. | |Linkage Action(renewal |Do you u need this document on renewal of customer if yes then also | | |select it. |Linkage Action(Enhanced |Do you need this document on Enhancement if yes then select it also | |Linkage-(Manual Insertion |Tick this check box of if you want manually insert this document | |Linkage Action (OTT |Do you need any document on OTT if yes then also select it. | About Collateral Set up: Path: Setup( Parameters (Collateral( Collateral Type Screen Here we can add a new collateral accordingly banks requirement. Collateral is an extra comfort obtained by a bank from its customers requesting funded or unfounded facility from a bank. Collaterals are usually valued asset which the customer hands over to the Bank as an assurance for the Bank in case of a ny default. [pic] [pic] Part-II( Post Granting Section This section contains much more setup but two more important are customer setup and facility set up. Which are as follow: Path: Post Granting( Customer Setup [pic] Path: Post granting ( Approval Package ( Approved Facilities [pic] Part-III( Transaction Section When the User will select the action of Extension or Extending Current Expiry of an Approval Effects of this Action Current Expiry in Approval Record screen will be changed to New Expiry which you will enter using this screen. [pic] |Field |Description | |Action Taken |Extension | |Approval Authority |Selection of the Name of Approval Authority | |Action Date |Date on which Approval Action is performed on this Approval | |Approval Action Code |Its an informative field | |Action Description |User can provide any extra information related to this transaction | |Approval Current Expiry] Old Expiry |CREAM will retrieve its Current Expiry from the database | |New Expiry Date |User will provide new expiry date | View of the Screen When Action is blocked [pic] Field |Description | |Action On Facility |Select the action from the drop down menu list as â€Å" Blocked† | |Action Date |The date of action. | |Action Description |Give description if any about this action | |Customer Facility Action Code |An informative field | |Facility Name Description |An informative Filed. It will show the Name of Facility and its | | |Description . Comes here from Customer Facility Screen. | About Document Transaction Screen Path: Transaction ( General ( Documentation Transaction User can do the following actions against the documents which we have already defined against the entities Customer type, Collateral Type, Facility General [pic] CREAMS is very wide software and can’t be explained in short with full understanding. These snap shots show its major features. CARS (Credit Analysis Reporting System) Consumer blue forms are generated for individual and sole proprietorship accounts. I worked in CARS (business software). At initial stage, I worked over consumer blue forms and entered consumer record in the software. I was assigned work to enter record of various customers in the software and I fulfilled my duty diligently. Following details should be entered in the software. If single of them is missing, blue form is considered incomplete keeping insufficient data; ? New and old NIC ? Gender ? Customer and his/her father/husband name ? Date of birth ? Home address ? Business name and address ? Security which is to be pledged Account Tagging Account tagging is also a part of CARS. Parties which have availed loan facility from UBL are tagged in CARS with their specific accounts. In UBL indiviual and sole proprietor account is tagged with 6160777. While partnership, public and private limited accounts are tagged with State Bank of Pakistan (SBP) provided group and subgroup codes. Templates are provided by UBL from which we could check whether the account comes under indiviual or private limited option. After confirming from templates account is tagged under their respective heads. RM’s (Relationship Managers) when record informations of customers, they wrongly put the account numbers of the customers as; ? Tagged with tetra eight ? Tagged without tetra eight ? Wrongly tagged ? Indiviual ? Final tagged RM’s (Relationship Managers) some times due to negligence mention account numbers in above mentioned ways. The above mentioned account’s informations are as Tagging with Tetra eight As RM’s (Relationship Managers) by negligence, some times tag the accounts with tetra eight i. e. account number is shown as (8888). It is counted as wrongly tagged by CAR’S (Business software). Tagging without Tetra eight RM’s (Relationship Managers) sometimes mentiuon account without tetra eight (8888) and keep them blank or untagged. It is counted as wrongly tagged by CAR’S (Business software). Wrongly Tagged: RM’s (Relationship Managers) sometimes wrongly tag the account. It is counted as wrongly tagged by CAR’S (Business software). Indiviual RM’s (Relationship Managers) mention the account by individual’s account which is tagged by (6160777) in UBL. It is to tag indiviual and sole proprietorships by 6160777. It is counted as wrongly tagged by CAR’S (Business software). Final Tag When the account is tagged, it is final account and confirmed. There is no need to review but it may be that mistake is made in tagging. FRN Tagging FRN is a number which is made by joining branch number with account number. i. e. if account number is 3457896 and account is opened in branch number 28 then its FRN number will be 283457896. Each customer is also tagged with FRN number. Report Viewing CARS have also option to view many reports like account tagging summary, blue form, central liability report etc. Most common report is blue form. After construction of blue form its report is viewed and prints out is taken for record. Product, Solutions and Services [pic] [pic] [pic] [pic] [pic] [pic] UBL Wallet [pic] UBL Wallet ATM / Debit Card is all the convenience security you desire and the quality you deserve. This Wallet holds all the cash in your bank account. With UBL Wallet you can withdraw cash at ATMs any time, or make cashless purchases at outlets through the Debit Card facility. With no joining fee and an accompanying complimentary cardholder for your convenience, UBL Wallet has been designed to exhibit the best in features and facilities, as well as look feel. Because at UBL, you come first UBLs dedicated staff is at your service 24 hours a day, 7 days a week. You can call our contact centre at 0800-11-825 (Toll-Free), or you can simply pick up the telephone placed next to every UBL ATM and be instantly connected to our customer service representative via a hotline Online Banking [pic] With UBL’s state of the art online banking, you can access your account from more than 350 branches located in 71 cities across Pakistan. Your account gets to travel with you and can be accessed throughout Pakistan, Now UBL enables you to do all the following Transactions in minutes through designated online branches. Salient features of online banking are: ? Cash Deposit ? Cheques Encashment ? Stop Payment ? Account Statement ? Funds Transfer (Account to account / IBCA) UBL Credit Card UBL Credit Card Features Welcome to the world of UBL Credit Cards. Pakistan’s 1st Chip Credit Card that guarantees you both enjoyment and high value. It assures you global acceptability in more than 22 million establishments worldwide in 130 countries and in more than 12, 000 outlets within Pakistan The UBL Credit Card †¦.. Mazay Mein Raho. ? This unique high tech CHIP guarantees your security while conducting transactions within Pakistan and around the world. CHIP based credit cards have proven to be the most secure way of conducting credit card transactions globally. ? No more tedious points to accumulate or boring catalogues to redeem from. Win your prizes instantly! ? Visit selected UBL Chip Reward outlets and get exciting gifts on the spot. The more you visit, the more you get. All you do is dip the Chip to win free meals, free household goods, free electronic items, free clothes and a lot more. ? A Choice of Rewards Along with exciting Chip Rewards you has a choice between Free Road Miles and Free Talk Time. ? Spend Rs 5000 anywher e on your UBL Credit Card and get guaranteed 3 liters petrol free from any PSO outlet nationwide. If you spend more, you get more. So keep driving, keep smiling. [pic] Spend Rs 5000 anywhere on your UBL Credit Card and get guaranteed 30 minutes free. What’s more, you get a free Mobilink Postpaid Connection with your UBL Credit Card. If you spend more, you get more minutes. So talk freely, stay connected. [pic] UBL Business Partner [pic] UBL Business partner†¦ a complete solution to all your Business Financing needs, With UBL Business Financing facility, you can now take your business to greater and newer heights, and achieve the level of success that you truly deserve. UBL Business partner is a running Finance facility that not only provides funds for growth but also enables you to capitalize on profitable opportunities. With UBL Business partner, now you will surely say: Ab Hui †¦ Kamiyaabi Meri Manzill. What is Business partner? â€Å"It is a ‘Credit Line/ OD Facility’ against Residential Property. It is an evergreen credit line that the customer can use for his/her business expansion† TezRaftaar [pic] Free Doorstep Remitta

Synchronous Orbits of Communication Satellites essays

Synchronous Orbits of Communication Satellites essays Synchronous Orbits of Communication Satellites The orbits of communication satellites vary for the type of satellite it is. The type of satellite it is depends on the work it is designed for. For example spy satellites (and most of the LEO satellites) need to be close to earth to take clearer pictures. First to understand the elliptical shaped orbits of the communication satellites, one needs to know that an orbit is a regular, repeating path that an object in space takes around another one. There are several types of orbits. The most common orbits are the polar, geosynchronous, and sun-synchronous orbits. The more correct term is near polar orbits. These orbits lean over at an angle near 90 degrees. This allows the satellite to see almost every part of the Earth as the Earth rotates underneath it, while providing a better global view. It takes approximately 90 minutes for the satellite to complete one orbit around the Earth. The orbits of the satellites usually take place about seven hundred to eight hundred km above Earth. These satellites orbit around Earth going from pole to pole. A geosynchronous orbit (GEO) is a circular, low orbit (time) about Earth making a complete turn in 23 hours 56 minutes 4 seconds, about the same time it takes Earth to turn, so as the Earth spins, the satellite moves synchronously with it. Geosynchronous means "in time with the Earth." A spacecraft or satellite in geosynchronous orbit stays over the same line of longitude while being at 35,790 km above Earth. Often a satellite in geosynchronous orbit stays above the same spot on Earth. When this occurs, it is called geostationary orbit. This orbit is ideal for certain kinds of communication satellites, or meteorological satellites that have a job to do over one part of the world. Because of the fact that planets are not perfectly shaped, the third type of common orbits occurs as the orbit changes to the orbit of the sun, while moving...

32 Famous Quotes by the 40th President Ronald Reagan

32 Famous Quotes by the 40th President Ronald Reagan Ronald Reagan served two terms as President of the United States, from 1981 to 1989. He was also the oldest person ever elected President, which was an issue during both elections. Known as the Great Communicator, Reagan is often remembered for his quick wit and storytelling. Below you will find some of the funnier and more famous quotes by Ronald Reagan. Reagans Philosophy of Life My philosophy of life is that if we make up our mind what we are going to make of our lives, then work hard toward that goal, we never lose - somehow we win out.All great change in America begins at the dinner table. (Farewell Address to the Nation, delivered in the Oval Office on January 11, 1989)Life is one grand, sweet song, so start the music.I now begin the journey that will lead me into the sunset of my life. I know that for America there will always be a bright dawn ahead. (From Reagans letter announcing his Alzheimers disease to the American public on November 5, 1994)When you cant make them see the light, make them feel the heat.Education is not the means of showing people how to get what they want. Education is an exercise by means of which enough men, it is hoped, will learn to want what is worth having.Its true hard work never killed anybody, but I figure, why take the chance? (Gridiron Dinner on April 22, 1987) Well, Im Not Going to Make Age an Issue I did turn 75 today - but remember, thats only 24 Celsius. (Reagan right before he signed the Annual Economic Report of the President (February 6, 1986)Thomas Jefferson once said, We should never judge a president by his age, only by his works. And ever since he told me that, I stopped worrying.I want you to know that also I will not make age an issue of this campaign. I am not going to exploit, for political purposes, my opponents youth and inexperience. (During the Second Presidential Debate against Walter Mondale on October 21, 1984) Funny Quips as President I have left orders to be awakened at any time in case of national emergency, even if Im in a cabinet meeting.Before I refuse to take your questions, I have an opening statement.How can a president not be an actor? (Response by Ronald Reagan when asked by a reporter How can an actor run for President? during the presidential campaign in 1980) Humor Even After Being Shot Please tell me youre all Republicans. (Comment by Ronald Reagan to the surgeons who were about to operate on him after the assassination attempt on March 30, 1981)Honey, I forgot to duck. (Comment made by Ronald Reagan to his wife, Nancy Reagan, when she arrived at the hospital following the assassination attempt on March 30, 1981) Albert Einstein, Your Virtue, and Your Neighbors Job: Reagans View of Taxes and Economics Even Albert Einstein reportedly needed help on his 1040 form. (Address to the Nation on Tax Reform on May 28, 1985)A recession is when a neighbor loses his job. A depression is when you lose yours. And recovery is when Jimmy Carter loses his. (Labor Day Address at Liberty State Park, Jersey City, New Jersey on September 1, 1980)Balancing the budget is a little like protecting your virtue: You just have to learn to say no. (Remarks at Kansas State University at the Alfred M. Landon Lecture Series on Public Issues on September 9, 1982)Governments view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it. (Remarks to the White House Conference on Small Business on August 15, 1986) Tear Down This Wall! Communism and the Soviet Union Mr. Gorbachev, open this gate. Mr. Gorbachev, tear down this wall! (Speech at the Berlin Wall on June 12, 1987)How do you tell a Communist? Well, its someone who reads Marx and Lenin. And how do you tell an anti-Communist? Its someone who understands Marx and Lenin. (Remarks at the Annual Convention of Concerned Women for America held at the Crystal Gateway Marriott Hotel in Arlington, Virginia on September 25, 1987)If the Soviet Union let another political party come into existence, they would still be a one-party state, because everybody would join the other party. (Remarks to Polish Americans in Chicago, Illinois on June 23, 1983)I call upon the scientific community in our country, those who gave us nuclear weapons, to turn their great talents now to the cause of mankind and world peace, to give us the means of rendering these nuclear weapons impotent and obsolete. (Address to the Nation on National Security on March 23, 1983) Politics as a Profession Republicans believe every day is the Fourth of July, but the democrats believe every day is April 15.You know, it has been said that politics is the second oldest profession and Ive come to realize over the last few years, it bears a great similarity to the first. (Speech at Hillsdale College, Hillsdale, Michigan on November 10, 1977)Politics is not a bad profession. If you succeed there are many rewards, if you disgrace yourself you can always write a book. Government Is the Problem Governments first duty is to protect the people, not run their lives.​ (Speaking at the National Conference of the Building and Construction Trades, AFL-CIO on March 30, 1981)Government does not solve problems; it subsidizes them.Government is not the solution to our problem; government is the problem. (First Inaugural Address on January 20, 1981)Government is like a baby. An alimentary canal with a big appetite at one end and no sense of responsibility at the other. (Reagan during his gubernatorial campaign in 1965)Government always finds a need for whatever money it gets. (Address to the Nation on the Fiscal Year 1983 Federal Budget on April 29, 1982) Abortion Ive noticed that everybody that is for abortion has already been born. (During the Anderson-Reagan Presidential Debate in Baltimore on September 21, 1980)