Finance In mauritius Essay Example | Topics and Well Written Essays - 2250 words

Finance In mauritius - Essay Example The rising market volatility due to the growing speculation in the stock markets led to failure in payment of debt among the banks, insurances and mortgage companies. The gravity of the problem was such that even the banks with huge capital reserves could not evade the situation (Mohamudally-Boolaky & Ramlall, 2010). This led to the fall of the one of the four pillars of Wall Street Lehman Brothers while some of the once ‘unfathomable to fall banks’ were either taken over at very low valuations or had to be rescued by the government. 1.1 Background Chan Lau (2008), states that the credit turmoil sent the US economy into a jittery. Even the European economies could not escape from the crisis and it gradually spread across the emerging economies. Initially, it was believed that the impact of the financial fiasco would be least on the African countries due to their limited exposure to structured financial products. However, this proved to be false. Ramlall (2009) highlighte d that the financial crisis increased the sensitivity of the stock market index of Mauritius to international markets (Mohamudally-Boolaky & Ramlall, 2010). ... The financial system of Mauritius is mainly bank-based with the banks representing 70 percent of the overall assets. In the â€Å"Financial Stability Report of the Bank of Mauritius† released in the year 2009 it has been stated that the recent credit fiasco did not have much impact on the indigenous banking sector. It is mainly because the banks in the country were not directly exposed to any toxic debt that affected the worldwide financial markets. The recent credit crisis has put forth the requirement to safeguard from vulnerabilities like rising foreign currency and credit risk, funding reliability and lending practices (Mohamudally-Boolaky & Ramlall, 2010). 1.2 Impact on financial parameters of Mauritian banks In a survey of Mauritian commercial banks and three important insurance companies it has been revealed that impact of the crisis was severe on the exports of the country with the mixed responses regarding the impact on the banks. As per this survey most of the banks witnessed a lag effect of the credit crisis mainly during the period 2009-10. Table 1- Impact of crisis on important banking ratios Source: (Mohamudally-Boolaky & Ramlall, 2010). The above table shows that the banking system in the country has emerged unscathed from the crisis. A rise in important financial parameters shows that the performance of the banks rose considerably. This implies that most of the banking activities are internal making it less risky as compared to those arising out of foreign operations (Mohamudally-Boolaky & Ramlall, 2010). The recent global financial crisis is reckoned as the worst credit crisis after the Great Depression. It initiated a number of policy actions by the central banks and governments across the world but

Personal statement Example | Topics and Well Written Essays - 500 words - 7

Personal Statement Example This made me feel completely at par with how I thought life should be for my own self. I have also played solo at the college level in a number of events. Even though I always want to perform at the very best, I get nervous when so many people are watching and their eyes are glued on to you. In essence, this makes a person feel good as well because he wants to give his utmost so that the audience could get enthralled with the music that is being played. The only riposte that I could muster was to play it well and give my best shot so that I could be satisfied with my music and the manner in which I made the people enjoy. The skills that I have learned through have been in the form of my preparation, organizing things and prioritizing other aspects of my daily routine. An example of this is my earnest desire to do something big within the gaining of mastery of guzheng. Since I worked my way through things, I found this to be a pattern which was unique to my personality and hence my skills and abilities adopted the same easily. This brings a sense of pride within my personality because I want to give my best and feel the glory that is coming within my own domains. I would always like to be at the very best because it is something that I am a part of and which I can do at the best of my skills and abilities. I have seen that I have changed a lot during the time that I have performed music for the people. It has made me feel that I am responsible for bringing a sense of excitement and enjoyment within their respective lives. The experience of performing in front of so many people is something that comes very naturally to me even though it gets to me sometimes with tiresome avenues opening up all the same. However, I appreciate how I take up the fields of excitement that people feel within their folds when I am playing music for them. I have seen that my life has changed quite a