Tag: #mirzaashrafbeg

Money Protects inks agreement with Crowe MAK UAE, JRB CAMoney Protects inks agreement with Crowe MAK UAE, JRB CA

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Money Protects (MP) has signed an agreement with Crowe MAK UAE & JRB Chartered Accountants in Dubai for a one of a kind business advisory. The duo finalized iconic business plans, market and financial analysis, and financial projections over the course of 5 years. 

 MP — set to be fully operational by November 2022 — is a startup pioneering financial ecosystem, sustainable financial freedom solutions for individuals and corporates in wealth creation and management. 

 Mirza Ashraf Beg, founder at Money Protects shared his vision. “Our structural and operational plan is to bring financial innovations together to bridge the gap between sustainability and long-term confidence in the financial services ecosystem with an objective of potential unicorn expansion within 2-3 years.” 

 The objective at large is to target and reduce UAE’s NPL (Non-Performing Loans) impairments by Dh 20 billion in 3-5 years which has a yearly addition Dh150 billion. As current banking and financial market is too friendly on their portfolios and fails to restructure the problem or give real affordable solutions to clients. Rather the process goes from default, retail and corporate recoveries and many a time even leading to legal cases. Although, the lenders are on a roller-coaster business having provisioned their impairments, there is no reduction on gross UAE’s NPLs.

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Albert Edwards And Scott Minerd Agree: US Yields Could Go NegativeAlbert Edwards And Scott Minerd Agree: US Yields Could Go Negative

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Do you believe we’ve “crossed the Rubicon” where that means policymakers are increasingly inclined to view the world through the lens of Modern Monetary Theory even if they insist they’re doing no such thing? If the answer is “yes,” you’ll be forgiven. The superfluous middleman notwithstanding, central banks are engaged in debt monetization. That’s been true for a long time, of course. What’s new is that the “match” between government borrowing and central bank bond-buying became so glaring following the pandemic that the charade was difficult to obscure, even in countries where the public isn’t exactly famous for its capacity to grasp nuance (e.g., the US). The figure (below) is about as straightforward as it can be.

https://heisenbergreport.com/2021/03/04/albert-edwards-and-scott-minerd-agree-us-yields-could-go-negative/

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Mortgage rates hover near record lows to close out 2020Mortgage rates hover near record lows to close out 2020

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Throughout 2020, mortgage rates dropped to all-time lows on more than a dozen occasions.

Economists project rising mortgage rates in 2021

Mortgage rates have closed out 2020 around the lowest levels on record. But those looking to lock-in this cheap financing shouldn’t wait on the sidelines for too long.

The 30-year fixed-rate mortgage averaged 2.67% for the week ending Dec. 31, up a basis point from the new record low of 2.66% set the week prior, Freddie Mac FMCC, +0.87% reported Thursday

Meanwhile, the 15-year fixed-rate mortgage dropped two basis points to an average of 2.17%, representing a record low for that mortgage product. The 5-year Treasury-indexed hybrid adjustable-rate mortgage fell by eight basis points to 2.71%.

“With 2020 wrapping up, we can look back on a year where low mortgage rates served as a potent fuel, driving activity and offering buyers access to a home,” said George Ratiu, senior economist at Realtor.com.

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