Investment Corporation of Bangladesh Authorized for Private Placements of Securities free essay sample

CONTINUED OPERATION Private Placements ICB is authorized to act as an agent of the issuers and investors for private placements of securities. Under this arrangement, ICB places securities to individuals/institutions on behalf of the issuer for which it charges fees. ICB also acquires shares/securities for its own portfolio both in pre-IPO placement and equity investment. Custodian and Banker to the Issues To act as the custodian to the public issue of Open-end Closed-end Mutual Funds. ICB provides professional services. It also acts as the Banker to the issues and provides similar services through the network of its branches. Fees in this regard are negotiable. Mergers and Acquisitions Companies willing to expand their business through mergers or acquisitions or to Dis-investment projects that no longer viable into present capacity of operation can contact the Corporation. ICB provides professional services advices in respect of shaping up the cost and financial structures to ensure best possible operational results. We will write a custom essay sample on Investment Corporation of Bangladesh: Authorized for Private Placements of Securities or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Besides, in case of divestment, the corporation, through network and established business relationship, bring buyers and sellers together, help them to negotiate final agreement and advice on the emerging corporate structure. Corporate Financial Advice Government enterprises and Companies intending to go public issue often seek professional financial advice on corporate restructuring reengineering. ICB through its expertise provide such services through its expertise. Lease Financing ICB Provides lease finance mainly for procurement of industrial machinery, equipment and transport. ICB provides professional advice and financial assistance to the intending clients. The period of lease, rental, charges, and other terms and conditions are determined on the basis of type of assets and the extent of assistance required by the applicants. Since introduction of this scheme in 1999 good responses have been received from the intending lessees. Investment Portfolio of ICB Being the largest institutional investor ICB contributes significantly to the development of the countrys cap ital market through active portfolio management which is one of the important functions of ICB. During 2003-04 a total investment of Tk. 138. 93 crore has been made in the investment portfolio of ICB including Tk. O. 2 crore in shares of a company through Pre-IPO placement, Tk. 7. 0 crore in debentures of two companies, Tk. 0. 3 crore in preference shares of a company and Tk. 5. 0 crore in bonds of a company. Advance Against Unit Certificates Scheme Advance Against ICB Unit Certificates Scheme was introduced in 1998, especially designed for the ICB unit- holders to meet their emergency fund requirements. One can borrow maximum Tk. 5 per unit by despositing his/her unit certificates under lien arrangement from any of the ICB offices where from such unit certificates were issued. The rate of interest on the loan is reasonable and competitive. Advance Against Mutual Fund certificates Scheme Advance against ICB Mutual Fund certificates Scheme was introduced in 2003, designed for the ICB Mutual Fund Certificate-holders to meet their emergency fund requirement. One can borrow maximum of 50% value of last one years weighted average market price of certificates at the time of borrowing by depositing his/her certificates under lien arrangement from any of the ICB offices. The rate of interest on the loan is reasonable and also competitive. Consumer Credit Scheme As part of business diversification programme, ICB has introduced Consumers Credit Scheme in 2003-04 considering at the need of various household commodities of different employees of govt. , semi-govt. , autonomous bodies and some established private sector organizations. Under this scheme one can enjoy minimum Tk 1. 0 lac but maximum 5 lac credit facilities. The rate of interest on the loan is reasonable and competitive which is fixed by the board of directors of ICB considering the bank rate nd with the guidelines of Bangladesh Bank. Bank Guarantee scheme ICB introduced Bank Guarantee scheme in 2002-03. ICB provides (i) Bid Bond for enabling the business people to participate in any tender or bidding; (ii) Performance Bond for helping the business community to continue their business smoothly by fulfilling their obligations promised by them to their clients; and (iii) Customs Guarantee for solving different disagreements between the customs authority and the business classes at the initial stage. The maximum limit of guarantee is Tk. 2. 00 crore and would be issued against at east 20% cash and 80% easily encashable securities or against 100% cash margin. Re-guarantee from other financial institution is required for guarantee against the amount exceeding Tk. 2. 00 crore. Training Local Training During 2003-04, as part of human resource development programme, ICB endeavoured to develop the skill, knowledge and professional competence of its manpower by arranging various in-house and local training courses. During the year, 26 officers and 09 employees of ICB received local training on different subjects including Policy towards investment and industrialization, VAT and Taxation, Performance Measurement of Financial Institutions-a Credit Rating Perspective, Web page Design and Development,Venture Financing and Factoring, Investment and Merchant Banking, Managing core risks in banking for senior bcinkers, Corporate Governance, Institutional Computer Training, Trade Union Training Course for Organiser, Young Leadership, Development of small and medium enterprises etc.. Foreign Training During 2003-04, no officer/staff participated in any foreign training course. Trustee to the debenture and Securities assets ICB is acting as trustee to the debenture issues and asset-backed securitised bonds. ICB acted as trustee to the issues of 17 companies of which 7 companies has been redeemed successfully. Objectives | To encourage and broaden the base of investment. | | To develop the capital market. | | To provide for matters ancillary thereto. | | To mobilize savings. | To promote and establish subsidiaries for business development. | Business Policy | To act on commercial consideration with due regard to the interest of industry, commerce, depositors, investors and to the public in general. | | To provide financial assistance to projects subject to their economic and commercial viability. | | To arrange consortium of financial institutions including merchant banks to provide equity support to projects and thereby spread the risk of underwriting. | To d evelop and encourage entrepreneurs. | | To diversify investments. | | To induce small and medium savers for investment in securities. | | To create employment. | | To encourage Investment in IT sector. | | To encourage Investment in joint venture capital/project. | Basic Functions | Underwriting of initial public offering of shares and debentures| | Underwriting of right issue of shares| Direct purchase of shares and debentures including Pre-IPO placement and equity participation| | Providing lease finance to industrial machinery and other equipments singly or by forming syndicate| | Managing investors Accounts| | Managing Open End and Closed End Mutual Funds| | Operating on the Stock Exchanges| | Providing investment counsel to issuers and investors| | Participating in Government divestment Program| | Participating in and financing of, joint-venture projects| | Dealing in other matters related to capital market operations| | Trusty, Custodian, Bank Guarantee | | Consumer Cre dit |

Are Forgotten Memories Lost Essay Example

Are Forgotten Memories Lost Essay Example Are Forgotten Memories Lost Paper Are Forgotten Memories Lost Paper Memory is a great artist. For every man and for every woman, it makes the recollection of his or her life a work of art and an unfaithful record. (Maurois, 1929) Memories are events in our daily life that are either retained because they are personally significant or lost because of their insignificance. Retained memories may be of a vivid quality but their accuracy upon retrieval is questionable, containing minor or major errors. Substitution of the Old for the New Loftus (Loftus Loftus,1980) provided evidence disproving the view that all memories are permanent and thus potentially recoverable. It was argued that when people are given new and misleading information about a previously seen incident, they are often unable to remember the original incident accurately and that the forgetting observed under these conditions is due to the loss of original memories once new information has been encoded. That is, substitution of the old information for the new has occured. This updating of old memories is assumed to be automatic and has the consequence of removing any previously existing knowledge that is contradicted by the new information. Hence, according to Loftus, forgetfulness is due to a  potential loss of memory. A Question of Inaccessibility However, Bekerian and Bowers (1983) and Christiaansen and Ochalek (1983) contended that the original information is not lost from memory, but is merely rendered inaccessible or non-retrievable. Bekerian and Bowers argued that in Loftuss studies, the recognition test items are presented in random order and not in the order in which the queried information occurred in the original slide sequence. Thus the retrieval environment does not closely match the original encoding environment. The misleading information effect may occur because  subjects are unable to access the original information effectively under these conditions and instead retrieve the postevent information. They found that if the test reinstated the original environment more fully, subjects are able to access the original information effectively and misled subjects perform as well as control subjects. It was thus concluded that the access of original memories depends on the retrieval environment, especially features present at the time of original encoding. There is therefore no loss in the original information, but accessibility is impaired under conditions of the random test. McCloskey and Zaragoza (1985) later criticised all previous studies as being inappropriate for assessing the effects of misleading information on memory because of logical problems with the procedures or methodological problems with the experiments reported. They concluded from their modified experiment that misleading postevent information has no effect on memory for the original event. However, it was suggested that under some conditions, misleading postevent information can affect or influence memory. Hypnosis and Eyewitness Memory The debate on whether forgotten memories still exist continues with an  influential review of the effects of hypnosis on eyewitness testimony by Mingay (1987). Incidents which cause considerable stress or physical injury may impair or prevent recall. However, studies which involve the use of hypnosis to enhance recall were not found to be significant. Forensic hypnotists have also consistently alleged that new information have been provided in most cases where hypnosis have been employed. However, further discussion have suggested that both accurate and inaccurate information are elicited during the forensic interview, probably due to a number of factors unrelated to the  hypnotic intervention. The numerous differences between the typical hypnotic and non-hypnotic interview means that users of forensic hypnosis cannot know whether the hypnotic intervention was a factor influencing the performance of a witness. This consideration, and the likelihood that users of forensic hypnosis will selectively attend to and remember the successes, can adequately account for their strong beliefs in the efficacy of hypnosis. The empirical evidence pertaining to the effects of hypnosis on the recall of events after several months have elapsed is also somewhat inadequate, but suggests that  hypnosis does not facilitate remembering under these circumstances. Hence, it is evident that hypnosis fails to offer any insight into the existence of forgotten memories. Autobiographical Memory Rsearch done on autobiographical and childhood memories reveal a startling amount of long-forgotten memories mixed with the experience of recalling something many years after it was last recalled. Brewer (1986) defined autobiographical memory to be the memory for information related to self, e. g. personal memory, autobiographical facts, generic personal memory and the self-schema. He characterised a personal memory as a recollection of a particular episode from an individuals past which has strong visual imagery. Personal memories are also accompanied by a strong belief that they are an accurate record of the originally experienced episode. Flashbulb memories were first discussed by Brown and Kulik (1977) to be very vivid memories of personal and emotional events. They are of a photographic quality and often contain visual, auditory and even taste and smell components of the event. The events are always of personal importance and are often surprising and emotional. The problem with both personal and flashbulb memories is their veridicality. Although individuals believe that their memory of an event is absolute and accurate, there have been evidence (Neisser, 1982) to show that reconstruction and alteration of the original event occurs and that minor and major errors are made unknowingly. Emotion also play a major role in flasbulb memory and vivid memory formation. The mood and the intensity of the emotion at that particular moment can influence the memories that are retained of that event, thus making recall not absolutely reliable. Regular rehearsal of the event  might further reaffirm the inaccurate new reconstructed version in memory. Details from frequent rehearsals become incorporated in the original memory and the composite memory constructed represents a persons flashbulb memory of an event. The description of autobiographical memory as reconstructive and acquired through a schematization process may apply to many instances of functional anomalies in everyday memories. Any situation resulting in the false recognition of new information as previously experienced may be explained in terms of similarities in surface features and semantic properties between what is remembered and fact. Conversely, failure to remember an event would also be due to a simlarity effect because actual events merge into and become indistinguishable from generic events compatible with what the person thinks could have happened. Hence most autobiographical memories are true but inaccurate. These errors, though, may be mediated by an accurate self-portrait because not every memory can be accepted as ones own. The sense of familarity created by an event is associated with a judgement that the event is true to what most likely occured and consistent with what should have happened. Conclusion In conclusion, forgotten memories are probably neither lost nor irretrievable. The conditions on retrieval may possibly influence the process. The integration of other information may also affect and modify the original information. Also, personal judgement and self-depiction of the event may also distort the memory of the event. Hence, it is a host of inter-webbed factors that may cause the phenomenon of forgetfulness and not one explanation is totally satisfactory. References Bekerian, D and Bowers, J (1983) Eyewitness testimony: were we misled? Journal of Experimantal Psychology: Learning, Memory and Cognition; 9, 139-145

TYPES OF TOPOLOGICAL SPACES AND THEIR INTERRELATIONSHIPS Research Paper

TYPES OF TOPOLOGICAL SPACES AND THEIR INTERRELATIONSHIPS - Research Paper Example Indeed, the nature is chaotic and therefore the ‘good mathematics’ is not always sufficient. Topology is a branch of mathematics that deals with the study of spaces and shapes. Certainly, the human mind is suited for a two dimensional space. Consequently, it more difficult to study spaces of higher orders hence, the need to apply abstract tools. The beauty about mathematics is mathematicians avoid natural problems, instead they create and solve problems to represents the natural world. Therefore, much of the work done on topology is an artificial creation that resembles real world problem. Topology has significant applications in other branch of mathematics such as geometry and algebra. Major mathematical problems that can be solved using topology include continuity, connectedness, and  boundary. The interesting aspect of topology is not the development of mathematical solutions, but how different mathematician approach a topology problem. This has led to the developme nt of different topologies namely T1 – T4. This paper explores the different types of topology and their relationships. Definition 1.1. Let be a set and a collection of subsets of such that the following properties hold. I. The empty set and the space II. If , then III. If for , then The collection is referred to as a topology on and the pair is referred to as a topological space. ... However, this definition does not endow a topological space with ‘nice’ properties similar to those found in metric spaces. For example in a metric space, every convergent sequence always converges to a unique limit. However, this is not necessarily true in topological spaces. To recover these properties, we need to supply enough open sets to the space. Thus, separation axioms classify topological spaces according to their sufficiency in open sets. Definition 2.2. A topological space is called a T0- space if for every two distinct points there exist an open set such that i. p lies in U and q does not lie in U. ii. q lies in U and p does not lie in U. Definition 2.3. T1 (Frechet) A topological space is called a T1- space if for every pair of points there exists such that Definition 2.4. T2 (Hausdorff) A topological space is called a T2-space or Hausdorff if for every pair of points there exists open sets such that, and. Definition 2.5. T3 (Regular) A T1 is called a T3 or a regular space if for every point and a closed set with there exists open sets such that and and. Definition 2.6. T3  1/2 (Completely Regular or Tychonoff) A T1 – space is called completely regular or Tychnoff if for every point and a closed set with there exist a continuous function such that and. Definition 2.7. T4 (Normal) A T1 – space is a T4 space if for every pair of disjoint closed sets A and B , there exists open sets such that , and . Remark 2.1 All T1 spaces are T0 but the converse is not true The discreet topology is T0 but not T1 All completely regular spaces are also T3 Every metric space is T4 Theorem 2.1. In any Hausdorff space, sequences have at most one limit It follows that every finite set is a T2 space is