The Process Of Banks And Financial Insistutions Finance Essay - Free Essay Example

Sample details Pages: 10 Words: 2989 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Introduction The financial system of Bangladesh consists of Bangladesh Bank (the central Bank of country), Schedule banks, financial institutions (Non-banking), various co-operative societies, insurance companies, microfinance institutions (MFIs) and non-government organizations (NGO). Direct regulation and supervisory responsibility over the system rests with Bangladesh Bank. Among the 48 schedule banks, there are 4 state owned commercial banks, 5 state owned specialized banks, 30 domestic private commercial banks, 9 foreign commercial banks and 29 non-bank financial institutions. Don’t waste time! Our writers will create an original "The Process Of Banks And Financial Insistutions Finance Essay" essay for you Create order Financial institutions represent one of the most important segments of the financial system and play a very important role in mobilizing and channeling resources in Bangladesh. Financial system of the country is either bank or market based. Since bank based systems are good at mobilizing savings and providing payment services and liquidity, they are constrained in providing store of value services. By adding liquidity, divisibility, informational, efficiencies and risk pooling services, non-bank financial institutions play a major role in the development of financial sector by broadening the spectrum of risks available to investors. Objective of the project: To discuss process of Banks and FIs or NBFI To show what are the sources of their funds To show the difference in their lending segment on the prospect of SME To watch carefully the degree of difference and similarities between the real life and theory. Scope: This study revolves basically around Banks and Financial Institution in Bangladesh. This study includes an analysis of their lending pattern on the prospect of SME. And what possible steps should be taken to improve facilities. Methodology: For preparing this report we will gather information from the following sources: Secondary data: This report will base on only secondary data like-Official website of the company, journal, newspaper etc. Limitation: In preparing this report certain limitations were faced: This report may suffer from statistical error due to the fact that all data used were Secondary. Lack of sufficient alternative sources prevented verification of information. The analysis presented here may vary with opinions of experts in this field. Overview: Structure and component of the financial sector in Bangladesh: The financial system of Bangladesh consists of Bangladesh Bank (BB) as the central bank, 4 State Owned Commercial Banks (SCB), 5 government owned specialized banks, 30 domestic private banks, 9 foreign banks and 29 non-bank financial institutions. Moreover, MRA has given license to 298 Micro-credit Organizations. The financial system also embraces insurance companies, stock exchanges and co-operative banks. NBFI: Non-Bank Financial Institutions are an important part of financial system in Bangladesh. NBFIs operations are regulated under the Financial Institutions Act, 1993. The NBFIs consist of investment, finance, leasing companies etc. There were 29 financial institutions operating in Bangladesh as of 31 December 2006. Of these one is government owned, 15 are local (private) and the other 13 are established under joint venture with foreign participation. Banks: In the banking subsector, there are 4 SCBs, 5 governments owned specialized banks dedicated to agricultural and industrial lending, 30 domestic PCBs, and 9 foreign commercial banks. The specialized banks are often called development finance institutions (DFIs). Out of the five specialized banks (enjoying 10% of the total industrys assets), the Bangladesh Krishi Bank and Rajshahi Krishi Unnayan Bank were created to meet the credit needs of the agriculture sector, while the Bangladesh Shilpa Bank and Bangladesh Shilpa Rin Sangstha were set up to extend term loans to industry. Defining SME: Small and medium enterprises (SMEs) are clearly defined by the Ministry of Industry of Bangladesh. Small businesses in the manufacturing industry are defined as those having fixed assets valued at less than BDT 15 million ($220,000), 50 excluding the value of land. Nonmanufacturing businesses with fewer than 25 workers are also considered small businesses. Current Situation of SME in Bangladesh: Small and medium enterprises (SMEs, industry and service) sector has been treated as a thrust sector and expected to play an important role in healthy performance of industry and service sectors in FY10. At the end of September 2009, banks and NBFIs distributed Tk.248.8 billion to the SME sector which is about 21.9 percent of their total disbursed loan. For promoting small enterprises, BB has directed the banks and NBFIs that at least 40 percent of their total targeted loan for the SME sector should be earmarked for financing small entrepreneurs but at the end of Q1FY10 only 29.2 percent of their SME loan went to small enterprises. Recently Bangladesh Bank (BB) has opened SME and Special Programs Department to help the sector and its clients. As the state owned banks have wide banking network with their large number of branches throughout the country, BB particularly urged the state owned banks together with other banks, to develop area-based lending network where a bank can help e ntrepreneurs directly and timely. Given the prospect of growing domestic demand, regained momentum in export demand, rising trend in capital machinery import and industrial loan disbursement and positive prospect in construction and SME sector activities, the overall growth outlook for industry sector output for FY10 seem reasonably encouraging. According to data of 2008, the total market size for loans to SMEs is estimated to be nearly BDT 400 billion ($5.7 billion). The total amount of SME loans increased by BDT 100.2 billion ($1.4 billion), or 40 percent, to BDT 350.4 billion ($5 billion) at the end of June 2008, in comparison to BDT 250.2 billion ($3.6 billion) at the end of June 2007. In terms of institutional categories, loans extended to SMEs increased from June 2007 to June 2008 among private banks (53.5 percent), nonbank financial institutions (43.4 percent), state-owned banks (32 percent) and specialized banks (15.1 percent). But, SME loans extended by foreign banks are decreased by 20.5 percent. Microenterprise loans range from BDT 20,000 to BDT 500,000 ($287-$7,170), but most such loans range from BDT 20,000 to BDT 50,000 ($287-$717). Very few microenterprises receive loans greater than BDT 50,000. Maturities range from six months to two years. The average SME loan sizes by type of lender are as follows (figures are provided from the period 2003-2006): ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Average bank loan: 408,081 BDT ($5,851) ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Average MFI loan: 38,250 BDT ($548) Banks are the largest source of funding for SMEs. As of March 2008, private banks accounted for 54 percent of SME financing and state-owned banks, 30 percent, followed by specialized banks (10 percent), other financial institutions (4 percent) and foreign banks (2 percent). BRAC Bank and the state-owned BASIC Bank are the key players in SME finance in the country. The South Asia Enterprise Development Facility, SEDF, has also facilitated the a ccess of SMEs to formal financial services. The total SME loan portfolio reached BDT 350.4 billion ($5 billion) in June 2008 (provisional), representing growth of about 15 percent over the six-month period, January through June of that year Table 1:SME loan portfolio 2007-2008 June 2008 (provisional) December 2007 SME Loan (BDT Billions) SME Loan (% of Total Loan Portfolio) SME Loan (BDT) SME Loan (% of Total Loan Portfolio) Private Banks 198.90 19.7% 16248.61 18.2% State Owned Banks 99.19 33.3% 9577.60 22.7% Specialized Bank 32.50 22.9% 3050.38 23.3% Foreign Banks 6.12 6.5% 427.00 5.1% Nonbank Financial Institution 13.68 19.7% 1279.37 18.7% Source: Bangladesh Bank SME Finance As noted above, little data exists on the retail market for SME finance; even less data is available for the refinancing market, making the refinancing gap impossible to quantify. Table 2 presents the most recent available information from Bangladesh Bank on its SME refinancing facility, which is supported by the World Bank and the Asian Development Bank. Three banks-BRAC, Eastern, and Dhaka-accounted for more than 50 percent of the facility. Beginning in July 2008, the facility (called the SME Foundation) planned to disburse an additional BDT 2 billion in refinancing for SME lending, 80 percent of which was targeted at small businesses. Despite these funds, Bangladesh Bank has issued a clear call for additional support, noting that its current resources are not sufficient to close the gap in SME financing. Table 2: Bangladesh SME Refinancing Facility Name of banks or Fis Amount refinanced (BDT millions) No. of beneficiaries Average amount refinanced per enterprise (BDT millions) Working capital Medium term Long Term Total Banks NCC/Bank Ltd. 21.6 155.00 14.8 191.4 796 0.2 Jamuna Bank Ltd. 164.8 29.3 15.4 209.5 152 1.4 National Bank Ltd. 15.1 0.0 0.0 15.0 4 3.8 ONE Bank Ltd. 197.1 141.8 14.8 353.7 445 0.8 Premier Bank Ltd. 239.0 24.5 9.3 272.8 227 1.2 BRAC Bank Ltd. 48.6 637.8 0.0 686.4 1736 0.4 Southeast Bank Ltd. 81.2 3.2 3.5 87.9 86 1.0 Dutch Bangla Bank Ltd. 100.8 1.3 0.0 102.1 56 1.8 Mercantile Bank Ltd. 0.8 34.2 0.0 35.0 344 0.1 Eastern Bank Ltd. 113.8 262.1 243.0 616.2 581 1.1 Dhaka Bank Ltd. 326.5 149.8 0.0 476.3 553 0.9 Trust Bank Ltd. 17.6 0.4 0.6 18.6 15 1.2 Prime Bank Ltd. 198.1 10.7 6.9 215.7 234 0.9 Bank Asia Ltd. 0.3 10 0.0 10.3 21 0.5 Bank subtotal 1,525.2 1,460.1 305.6 3,290.9 5,250 0.6 Financial institutions Uttara Finance Investment Ltd. 8.7 123.1 360.5 492.3 279 1.8 Prime Finance Investment Ltd. 22.5 19.0 14.3 55.8 31 1.8 MIDAS Financing Ltd. 0.7 325.7 168.0 494.4 776 0.6 IDLC of Bangladesh 7.7 317.9 82.9 408.5 348 1.2 Phoenix Leasing Co. Ltd. 11.6 54.1 71.7 137.4 129 1.1 United Leasing Co. Ltd. 60.1 124.9 140.4 325.4 209 1.6 Vanik Bangladesh Ltd. 0.3 0.5 0.0 0.8 2 0.4 Bay Leasing 2.5 5.1 4.7 12.3 8 1.5 Fidelity Assets Securities Co. Ltd. 0.0 9.0 243.5 243.5 143 1.7 Islamic Finance and Investment Ltd. 6.1 120.7 23.2 150.0 125 1.2 Peoples Leasing and Financial Services Ltd. 4 28.9 196.1 229.0 123 1.9 Bangladesh Finance and Investment Ltd. 0.0 12.6 59.3 71.9 25 2.9 IIDFC 17.0 29.3 58.9 105.2 67 1.6 GSP Financing 5.0 0.0 20.8 25.8 6.0 4.3 National Housing Ltd. 4.0 7.6 9.1 20.7 12 1.7 Oman Bangladesh 0.0 1.2 4.0 5.2 21 0.2 International Leasing 4.6 31.8 24.3 60.7 26 2.3 Union Capital 5.0 3.5 9.5 18.0 7 2.6 Fareast Finance and Investment Ltd. 0.0 1.3 0.0 1.3 2.0 0.7 Premier Leasing 0.0 11.4 6.7 18.1 9 2.0 FI subtotal 159.8 1227.6 1488.9 2876.3 2348 1.2 Grand total 1685.0 2687.7 1794.5 6167.2 7598 0.8 During Q4 FY09, the disbursement of term lending by banks and NBFIs increased by 21.85 percent and stood at Tk. 67.96 billion which was Tk.55.78 billion in Q4 FY08. Between Q4 FY08 and Q4 FY09, term lending by PCBs increased from Tk.38.63 billion to Tk.48.12 billion due to their higher activities to increased industry share in lending, SCBs term lending increased also from Tk. 2.10 billion to Tk. 3.17 billion, while term lending by FCBs increased moderately from Tk. 7.51 billion to Tk. 8.12 billion. Term lending by NBFIs also increased moderately from Tk.6.72 billion to Tk. 7.12 billion Unfolding the Findings: SME financing is a new product in the range of services provided by banks. SME loan is different from other loans, not only because this is small in size, but also because its modalities are different. Nevertheless, to foster the growth of SME sector, various financial institutions now offer a wide range of products and services to SMEs in many countries. Unfortunately Bangladesh still has a scarcity of SME financing institutions or SME financing products and services. For example, two banks namely BASIC Bank (SME financing covers almost 100% of the loan portfolio) and BRAC Bank Limited (extends over 50% of the loan portfolio) are specifically devoted to SME financing. Other commercial banks are also open for SME finance, though their coverage is low. However, commercial banks should not be the only source of SME financing. There are other financial institutions, which finance SMEs worldwide, such as the SME Department of International Finance Corporation (IFC), World Bank Group. To enquire about the availability of SME financing products and services, we have surfed a number of commercial banks Website as well as the websites of other financial institutions, such as IDLC of Bangladesh and IPDC of Bangladesh. We have found that some of them do provide some innovative Products or services solely targeting SMEs, while others have repackaged some of their existing products as SME products. Banks SME Products/Services Standard Chartered Orjon Business Installment Loan Trade Finance Auto Loans Working Capital Foreign exchange BRAC Bank Anonno The City Bank Ltd Cash Credit (Hypothecation), Cash Credit (Pledge), Secured Overdraft, SOD Against Work Orders Dutch Bangla Bank Ltd Small Shop Financing Scheme Overdraft, Cash Credit (Hypothecation) Prime Bank Ltd Small Medium Enterprise (SME) Cell Pubali Bank Ltd Term Loan Social Investment Bank Ltd Special Credit Line for Small and Medium shop owners South East Bank Ltd Term Loan Among the non-bank financial institutions (NBFIs), IDLC of Bangladesh mainly focus on SME financing by providing business solutions through financial products like business loan, machinery loan, double loan and lease finance. They have introduced .factoring. first in the country. Among other sophisticated SME financing instruments, Industrial Promotion and Development Company (IPDC) of Bangladesh has introduced the first asset securitization in Bangladesh in 2004, followed by IDLC of Bangladesh with Asset Backed Securitized Zero Coupon Bonds of BDT 190 million in 2005 Non Banking Financial Institution SME Products/Services IDLC Factoring Asset Backed Securitized Zero Coupon Bonds IPDC First asset securitization in Bangladesh in 2004 IFC Leasing, SME Risk Capital, Equity Funds and services like Credit lines, Credit bureaus DBH Home Loan There are many constraints in developing the SME sector in Bangladesh. Several studies have identified different constraints, ranging from access to credit to marketing their products and services. However, access to credit is considered as the main constraint. Commercial banks are found reluctant to extend credit to the SME sector. The main reasons are high risk and monitoring cost. To meet the challenge and reduce the perceived risk in lending to SME sector, the Bangladesh Bank has embarked on a program to expand and redesign the existing refinance window of Bangladesh Bank into Small Enterprise Fund (SEF). However, it was thought that the introduction of .Credit Guarantee/Insurance Scheme or adequate refinancing facilities. By the Bangladesh Bank may be of substantial help in increasing the participation of the commercial banks in SME financing. Private Banks cannot be expected to undertake this type of financing as additional costs and high risk involved. On the ot her hand, NCBs that cater to a variety of sectors, from large industries to SMEs will not also be expected to give special attention that SME financing calls for. Problems That FIs are facing: Unlike banks, FIs have limited scope of mobilizing both public and private deposits due to some restricted policies of the government. In absence of mobilizing funds at comparatively moderate cost, FIs have to procure funds from commercial bank at higher rate of interest to run their investment portfolio. Delay in legal procedures in recovering the non- performing leased assets. corporate tax rate for FIs since they have to pay tax at the rate of 45% p.a. same rate as banks and other financial organization have to pay though the earning spread of FIs is in the range of 2-3% and that of banks 7-8%. Allowing financial institutions to claim depreciation on leased assets as an allowable expense for tax purpose which the government has withdrawn. Banks by offering leasing services are distorting the market on account of their lower cost of funds. Absence of established secondary market to dispose of the repossessed lease assets in case of default cases. Cash credit (CC) and Hypo loans are very secured products of banks that are not allowed for NBFIs. Despite all these constrains FIs should take immediate measures to correct them in their favor and look for diversifying their product ranges along with efficient management practices that can play a greater role in the countrys financial sector and meet the long term investment demand of the country. Major constraints of SME financing: The major constraints of SME financing by banks and FIs can be summarized as: Inadequate knowledge and ability to formulate proper project proposals for seeking institutional finance; Collateral based lending procedures of banks and FIs that are not suitable for SMEs; Complex bureaucratic procedures and corruption; Limited availability of information on technical and marketing aspects of SMEs; Inadequate and ineffective coordination among concerned government agencies; Lack of a functional definition of SMEs that can characterize their unique positions; Absence of proper criteria for selecting potential SME entrepreneurs by the promotional institutions. Initiative Taken by Bangladesh Bank: To address this problem Bangladesh Bank took some initiative; relevant aspects of banking and NBFI regulation are summarized below: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Refinancing from offshore investors Banks and NBFIs may borrow in foreign currency, providing the effective interest rate does not exceed LIBOR plus 4 percent and the maturity of the facility does not exceed 7 years. NBFIs face additional restrictions. Specifically, the repayment of interest in foreign currency is prohibited for NBFIs (the repayment of the loan principal in foreign currency is allowed). These restrictions may impede banks and NBFIs from accessing important potential sources of international financing-and thus from expanding their SME loan portfolios, given the reported dearth of SME refinancing facilities reported by Bangladesh Bank. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Transformation Transformation of a bank into an NBFI requires a capital increase from BDT 100 million ($1.4 million) to BDT 2 billion ($28.7 million), and eventually to BDT 4 billion ($57.4 million), beginning in June 2009. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Foreign direct investment There are no significant hurdles to foreign direct investment in existing banks and NBFIs in Bangladesh. Regarding greenfield operations, foreign investments may be made independently or through joint ventures, although a license must be received for any greenfield operation. Bangladesh Banks reform agenda in the banking sector and NBFI subsector is focused on strengthening competitiveness, specifically, resolving the sectors maturity mismatch and nonperforming loan problems. Items on the reform agenda include restructuring the specialized banks to improve their operational efficiency and alleviate their portfolio quality problems; improving the functioning of the secondary market for bonds and securities; and generally strengthening regulation and supervision. The central bank recently provided updated guidelines to banks to promote SME lending. These guidelines include requiring banks to inform the central bank of the target SME loan portfolio each year; dedicating a minimu m of 40 percent of the targeted amount to small businesses; establishing a dedicated SME function; and reporting on the SME portfolio on a quarterly basis. Conclusion Emergence of NBFIs has created a new avenue in our bank dominance traditional financial system. Traditionally banks are doing such businesses that they are not supposed to do. Long term lending of banks is mostly unfamiliar product for them, and has created a serious distortion in the financial market. Rather than gaining any benefit from such types of activities, the society is now carrying the load of overwhelming default loans. As leasing is considered as an alternative of long term financing many NBFIs have strong performance in leasing business. We found that financing the small scale industries in Bangladesh is the much-talked about, but less implemented issue. Government of Bangladesh has already taken some important steps to patronize the sector including allowance and pension and insurance fund to invest in the capital market, reduction of stamp duties and taxes of issuing cost of bonds and imposition of 10% tax on interest income arising from national savings certificate. Government has already initiated to build a secondary bond market with IMF assistance. It will be better for NBFI sector if the secondary bond market could be established on an urgent basis. In Bangladesh, the limited access to finance is one of the major areas of concern for SME development. Institutions to serve this sector need to have the financial capacity to accept the lending risks along with access to appropriate funding which matches the clients requirements. The financing approach of the commercial and development banks in the country is largely traditional that does not suit the special characteristics of SMEs. They mostly subscribe to the view that collateral and third party guarantee minimize risks for the lenders.

The Civil War Has Changed The Country - 987 Words

The history of America, as a nation is connected through the wars it has entered and how these wars have irreversibly changed the country. â€Å"The Civil War made modern America†¦ [and] we remain connected to this war† (Suri, Lecture 1). This is because the Civil War was an establishment of our nation’s beliefs and freedoms; fought to preserve the Union, this war shaped what America was and would become. The Civil War changed the notion of what liberty was, the transition from negative freedom to positive freedom is an influential aspect of American idealism. The ideal of liberty that emerged from the Civil War, was that the liberty came from the power of freedom (McPherson, 1991). Future wars were fought on the notion of protecting and expanding American interpretation of freedom; and each of these wars brought about change that would otherwise not have transpired. These wars came in three waves: the building of American presence, making the world safe for democr acy as well as fighting oppressive regimes, and exporting democracy. The War of 1898 established America as a major global player. Just prior to this war, Alfred Thayer Mahan’s ideals influence the notion that the United States could project power without occupying societies and this concept was put to the test during the Spanish-American War (Suri, Lecture 7). Cuba was a part of the Spanish empire and seeking to separate itself from it with the help of the United States; however America did not want to get involved.Show MoreRelatedWars And Changes During The United States Essay1181 Words   |  5 PagesWars and Changes in The United States The United States of American is a superpower in the world. Although it just have almost 240 years’ history, it experienced more than 200 wars. As a saying does, â€Å" Bad times make a good man†, the United States never lack of great leaders. 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NMBA Legislated Registration for Proficiency - MyAssignmenthelp

Question: Discuss about theNMBA Legislated Registration Standardsfor Proficiency. Answer: Introduction The Nursing and Midwifery Board of Australia (NMBA) is a professional body that is charged with qualifying, assessing and approving nurses and midwifes who apply to practice in Australia with such organizations as the Australian Nursing Federation (ANF). The NMBA according to Gray, Rowe and Barnes, (2016) provides protection to the members of the general public by ensuring that the nurses and midwifes who are approved for practice are competent and consistent with the laws and standards of the nursing and midwifery practice. NMBA ensures this through several legislated registration standards as discussed in this paper. Apart from the students and the non practicing registrants, the NMBA registration standards are applicable to all of the nurses and midwives in Australia. The NMBA registration standards were formulated in regard to the health practitioner regulation law of 2009 which ensures that all registered health workers meets the professional competency requirements. The registration standards are important in that they ensure safety in health operations along with several core values such as transparency and equality in the practice. Apart from the registration standards, there are also several policies that are used to qualify workers who had a leave from work considering that nursing and midwifery is a female dominated field who often take occasional maternal leaves. Registration Standard: Continuing Professional Development The continuing professional development standard takes into account how nurses and midwifes uphold, advance and widen their awareness, proficiency and handiness. This takes into account even the various personal and individual professional values that one needs to develop and use in their lifetime as health practitioners in the nursing and midwifery field. The CPD standards takes into account the number of hours that one can be allowed to take up for personal development and the number of hours these people need to work (Scanlon, et al 2016). The NMBA under the continuous professional development also provides for auditing which takes place after a specified period of about 5 years. People who seem to be incompetent with the continuous development standard are stopped from practicing as healthcare professionals. This standard would apply to me in the near future as I would still want to pursue an advanced degree in midwifery, child development and maternal health. The CPD standards also help in planning and balancing career and other personal interests in distinct fields. Registration Standard: Criminal History Halcomb, et al (2017) explains that all applicants wishing to practice as nurses in Australia must disclose all information regarding to their criminal history either in Australia or in other countries. They must give information as to whether they have been accused of any offense that deserved a term of more than 12 months and whether they have ever been sentenced or discovered liable of an offense deserving of detainment in Australia or potentially abroad. This information is considered important to guarantee just those medical nurses and midwifes who are reasonable and safe to practice are conceded enrollment in Australia. There however finer details stipulated in the criminal history regulation that ascertains the nature and magnitude of crimes that one has committed in their lifetime, the period after which one was convicted, the sentence or verdict passed by the jury, the age at which the practitioner is said to have committed the crime and the practitioners behavior since the offence. This regulation standard would help in determining the likelihood of threat that workers may impose and to guide my character relating to the profession requirements. It also helps to remain consistent with constitutional laws as their effects are far fetching and would guarantee termination of my career. Registration Standard: English Language The English language registration standard maintains that applicants whether aboriginal or immigrant should show mastery of the English language communication skills. The individual should have relevant skills both in writing and communicated English. One must fully satisfy that he or she has undergone the primary and secondary English classes and has fully completed and passes in the English language. One should also provide documents acting as proof that the course of the practice he or she is applying for was taught and assessed in English. According to Small, et al (2016) this would help me in communication with staff and patients and ensuring unity of purpose in the activities. It also boosts counseling activities and advisory in a language that is relevant to the patient. Proficiency in the English language will also act as proof that one competent in the medical term and language of identification and medical procedures. Registration Standard: Professional Indemnity Nurses and midwives are barred from operating if they dont have the appropriate professional indemnity insurance (PII) that relates to their area of professional expertise. This helps to protect the members of the general public from being misled by uninsured professionals. PII provides the necessary legal insurance against civil liability in the professional practice in order to cater for claims or charges of negligence, omission or a professional malpractice. Professional indemnity would help me to get cover from civil claims and to get a job both with the government and private based institutions. The PII would also serve to shield from uncovered claims that may arise from a previous practice. It would also cover me from reinstatement and also help in maintaining morals in ethics in the practice to avoid losing the personal indemnity insurance as Middleton, et al (2016) explains. Registration Standard: Recency of Practice Under the recency of practice, NMBA ensures that all applicants and all people practicing the profession have successfully completed a registered course under NMBA and is registered with a nursing or midwifery regulatory authority. This registration standard also ensures that the roles that one performs are relevant with the education and experience that one has and it also ensures that one has completed a period of supervised practice with NMBA. The standard also ensures that one has had not less than 450 hours of practical experience (Edmonds, et al 2016). This registration standard relates to my future practice in that I must ensure that I undergo and complete the course successfully and at least attain minimum requirements of operation. It also would help me to consistently deal with nursing and midwifery activities only at the place of work. Summary of the Scenario After working for 10 weeks as a graduate enrolled nurse, you are in an acute medical ward and you have been asked to insert and replace a nasogastric tube that has become blocked. You have not performed or witnessed this since the laboratory integrated skills class. Immediate Actions The immediate actions would on the risk factors that might pose a risk on the insertion of the nasogastric tube and the existing NMBA regulations. The practice should always be consistent with the professional indemnity regulation standard among the other laws. However other factors such as medical conventions of moral courage, transformational leadership and consistency to the Hippocratic Oath should be considered as a priority. In case of unsure course of action, due consideration and consultation is necessary in order to provide the best care in handling the replacement. Birks, et al (2016) explains that some of the main immediate actions include checking for any ear, throat or nose abnormal conditions that may threaten the life of the patient. The oesophageal varices strictures that may make it hard to perform the operation. Lastly, anatomical abnormalities and the risk of aspiration should also be consistently checked to ensure the success of the insertion and replacement. However, on normal cases, such risks are considerably minimal. If at one given time it appears so difficult, I would consider attending some refreshing classes in order to gain some competence. Identified Learning Needs The skills and knowledge that should be very essential in performing this operation include the skills of measuring, cutting and lubricating the tube. Proper identification of the type of tube is also very necessary. The medical practitioner should also be in a position to assess the age of the child and thus easily identify the correct measurement necessary for the child. Careful insertion of the tube also demands that the health practitioner has the relevant skills such as making the child to sit upright which in turn helps to avoid some of the critical conditions such as breathing difficulties, vomiting or coughing. The medical practitioner also requires having sufficient knowledge of the gastrointestinal tract, the digestion process and absorption of the digested food. It is also required that the practitioner is able to inform the patient on the procedure of insertion and the reasons for the operation to the patient. This in turn demands that the medical professional has this relevant knowledge in order to fully and sufficiently explain to the patient. The medical practitioner should then have the necessary knowledge of verifying in the tube has been correctly placed such as the PH test (Boyko, et al 2016). Learning Activities that Necessitate a Successful Performance of the Skill in Future In order to successfully perform the insertion correctly in future, one needs to undertake various learning activities. The learning activities are centered in line with the continuous professional development of the nurse or midwife. The various learning activities include the indications for the practice. The indications may be either to relieve the upper part of the tract, to feed to child or both. This may not influence any differences in the operation but it provides the comprehensive framework on why the replacement and insertion is necessary. According to Schultz and Gtz, (2016) other activities that the nurse needs to revisit include gaining the consent from the patients, the knowledge of measuring and identifying several sizes that best fit the patient. The preparation and insertion techniques are also of great essence in order to guarantee a successful future operation. Lastly, the verification of the correct positioning which is conducted using the PH tests, chest x-ray or the syringe test is then very essential to avoid inconveniences. Conclusion In conclusion, it is of great essence to point out that nurse and midwifes need to be consistent with the NMBA regulation standards in their day to day operations. The use of English language, professional indemnity and continuous professional development among others and they also need to follow the decision-making framework. This helps to challenge various obstacles in the field and give the correct and consistent medication to patients with minimal defects. Refrerences Birks, M., Davis, J., Smithson, J., Cant, R. (2016). Registered nurse scope of practice in Australia: an integrative review of the literature.Contemporary Nurse,52(5), 522-543. Boyko, J. A., Carter, N., Bryant?Lukosius, D. (2016). Assessing the spread and uptake of a framework for introducing and evaluating advanced practice nursing roles.Worldviews on Evidence?Based Nursing,13(4), 277-284. Edmonds, L., Cashin, A., Heartfield, M. (2016). Comparison of Australian specialty nurse standards with registered nurse standards.International nursing review. Gray, M., Rowe, J., Barnes, M. (2016). Midwifery professionalisation and practice: Influences of the changed registration standards in Australia.Women and Birth,29(1), 54-61. Halcomb, E., Stephens, M., Bryce, J., Foley, E., Ashley, C. (2017). The development of professional practice standards for Australian general practice nurses.Journal of Advanced Nursing. Middleton, S., Gardner, A., Della, P. R., Lam, L., Allnutt, N., Gardner, G. (2016). How has the profile of Australian nurse practitioners changed over time?.Collegian,23(1), 69-77. Scanlon, A., Cashin, A., Bryce, J., Kelly, J. G., Buckely, T. (2016). The complexities of defining nurse practitioner scope of practice in the Australian context.Collegian,23(1), 129-142. Schultz, J. S., Gtz, K. (2016). 4 Collaborative decision-making.Ethics and Professionalism in Healthcare: Transition and Challenges, 39. Small, K., Sidebotham, M., Fenwick, J., Gamble, J. (2016). Midwifery prescribing in Australia.Australian Prescriber,39(6), 215.

Saying Goodbye to Google Authorship Photos

by Sienna Luard Just when everyone begins to get used to Google Authorship profile photos, it announces that it’s not going to display them anymore in search results pages. In a bid to â€Å"clean up† the design of its results pages, Google has removed profile photos and the Google+ circle count where authorship is assigned to a web page. While some content publishers and marketers are concerned about how this will affect their visibility, others aren’t so troubled by the change. But could this affect click-through rates, and how should you react to this tweak to Google Authorship? Do You Need to Change Your Content Strategy? Fortunately for authors and content marketers, there’s actually nothing you need to change about the way you produce content. Your authorship still remains in place and all of the Google+ author profile structure stays the same. There’s no need to delete your profile picture, and it should still help strengthen your credibility in the eyes of Google. Before, if you were an author on a higher ranking website, you would get your profile picture displayed in Google’s search results pages. Now, just your profile name and the date of the post will be shown. Writers that produce new content less than once per week on a website with a lower domain authority could get their profile name removed completely. To a certain extent, the new format levels out the playing field, in that none of the search results will have profile images next to them. But if you want to see your profile name displayed, you still need to regularly publish content on a high-ranking website. Cons istently writinginformative SEO content also remains the best way to gain higher search engine rankings. Although Google experts claim that after tests, CTRs are similar in the new format, most people know that in reality this is likely to have a negative impact on the number of people that click on your content. Without an image, your listing simply doesn’t stand out as much on the page. The best way to improve click-through rates is to continue to use compelling titles that are intriguing, surprising, or revealing. Should You Forget About Authorship Altogether? You should definitely continue to use Google Authorship to verify your content. Google may decide to make more use of Author Rank data in the future, so doing everything you can now to improve your credibility could help you in the long term. Besides, having your profile name listed in the search results is still a boost to your online visibility and should still influence the click-through rate. Ultimately, if you develop a content strategy that informs, educates, and entertains your audience, you don’t have to worry about whether a picture of your face appears in search results pages. The Take-Away When it comes to Google, you can be sure that its algorithms and the way it displays search results will continue to change from one year to the next. However, one thing is likely to remain the same: Google will reward high-quality, unique content. As long as you continue to publish great content that engages your target audience, you will continue to increase your credibility with the search engines and your readers. The profile picture was a good way to attract attention to your content, but it didn’t actually improve your search rankings directly. While your Google Authorship profile picture will disappear from search results pages, it doesn’t stop your voice from being heard.