Who else loves a slow broadband connection?

September 19, 2019

When was the last time you heard someone say that they would absolutely love to have a slower broadband connection installed and pay over the top for it too? No one right? And for good reason. Nobody likes a pricey connection with slow speeds as it is not only frustrating, it is an absolute waste of money.

If you’re not happy with your connection, then don’t wait around for them to better their service or lower their prices. If you’re anything like me then you want the best speeds you can possibly get your hands on, and you want to have it on a bargain. So what do you do?

Do your Research!

You roll your sleeves and get down to research the best alternatives you have based on your needs and your area as well as your budget. You check out all the different broadband providers, make a list of their packages and compare them side by side to see who will give you the best deal. Check out whether you want broadband or broadband + TV connection, your desired speed and then see if they have any special offers going on.

You’ll also have to run these offers as per your postcode as some providers and some offers may not be available as per your area. The reviews are also definitely worth a look as different providers have their own unique advantages too. For example, if you are looking for top speeds then Virgin maybe your guy and if you’re more inclined towards TV then SKY will definitely be one of the top contenders.

Do you have the time?

But here is the thing, doing all of that, is easier said than done. Whilst it is an ideal way to compare and make an informed decision, this is going to be extremely time-consuming. There are over 14 popular broadband providers and each of them has different deals going on at all times. Shortlisting, comparing and then reading their reviews will take days, if not weeks. So let’s just stick to that crawling connection eh?

No! Not at all. You deserve better! We deserve better. And this is why, fortunately for us, there are comparison websites that do exactly what we’ve described here and provide a wealth of information, in easy to understand formats, at the push of a few buttons.

This naturally saves us time and a lot of effort that we would have to do manually.

Conclusion

But now there are so many comparison websites to choose from, right? Well, let us make it easier for you. Based on personal experience and a few key factors that we considered in evaluating the top utility comparison websites, especially when it comes to broadband providers, we can give our recommendation.

Usave Broadband is our personal favourite when it comes to comparison websites as it considers all providers and gives you the latest deals based on your choices. Simply put in your postcode and your preferences and let USave do the rest.

Seven Negative Effects a Bad Credit Score Can Cause in Your Life

September 18, 2019

Many people know so little about their credit score until they try to acquire a loan to finance their new business or buy a big asset like a home or car. This score helps lenders evaluate your trustworthiness and credit risk. The three-digit number that normally ranges from 300 to 850 helps them determine whether you are eligible for a credit card, mortgage, or some other types of loans, and the interest rate you should pay for it.

Generally, the greater the number, the more reliable you seem to lending institutions. The lesser your score, the riskier you appear to lenders. However, this three-digit number influences more than just lending decision, it can also determine whether you qualify for a rental house and even who may be ready to be in a relationship with you. Let’s now look at seven ways a bad score can negatively impact your life.

1. Future Borrowing Becomes a Hassle

Before approving a card application or loan, most lenders will check your rating and evaluate your history. Regardless of how badly you need to get money, the odds of approval are low if you have a poor rating. The lending agencies want to confirm your repayment capability and capacity before trusting you with their money. It is advisable to understand your financial rating before borrowing and start working on improving it if it has dropped significantly.

2. Unfriendly Loan Terms

We can’t entirely rule out the possibility of obtaining a loan with a poor score. Although qualifying for unsecured financing could be extremely difficult, people with a bad rating can get secured bad credit loan $5000 from some lenders. However, the terms will be unfavorable. The lower your rating, the higher the interest rate the creditor will charge you. Even if you get an approval, chances of obtaining a huge sum will be slim because you are a risky debtor.

3. It Could Prevent You from Renting Your Favorite Apartment

Landlords nowadays are looking for tenants who have decent profiles. If yours isn’t that fine, your potential landlord could reject your rental apartment application. Various studies and surveys have revealed that your financial history and rent-to-income ratio are the two most important factors that landlord check when they go through an application. If you seem untrustworthy and inconsistent with bills payment, property managers will think twice before allowing you to be their tenant.

4. Finding a Well-paying Job May Be Hard

Many hiring managers and recruiting agencies now incorporate creditworthiness checks into the application process. A decent profile is a representation of your accountability in managing your finances. The assumption is that if you are irresponsible with your finances, you won’t take your job seriously as well. Financial agencies and government institutions are likely to base their hiring decision on applicants’ credit. An applicant with a good rating will have high chances of getting the job.

5. Possible Relationship Problems

Whether you fail to reveal your financial profile or disclose it from day one, a poor rating is likely to bring some trouble for you. Although your profile doesn’t really combine with your partner’s after marriage, his or her profile can have an impact on your capability to be eligible for new instruments like home and car funds, especially if you are filing a joint application. For instance, assume you have an outstanding profile and your partner’s isn’t that great. When you jointly apply for home financing, the creditor will review both profiles and evaluate your family’s total financial risk. Despite your risk being low to suit the lender’s eligibility requirement, you are likely to part with a bigger down payment or greater interest rate together compared to if you were taking out the loan by yourself. Such situations can cause tension and hostility in your personal relationship.

6. Creditors Can Take Tough Legal Actions against You

When you consistently fail to pay bills or an unsecured financial instrument, creditors will alert you concerning the repayment. If you continuously ignore their reminders and decline to repay, lenders might notify you of their intention to take legal action against you. Although you will have an adequate notice period, a court case can make the issue worse and reduce your borrowing prospects in the future. It is important to negotiate with the lender and settle the matter out of court before it gets out of hand.

7. Getting a New Business off Ground May Be Difficult

If you are planning to set up a new business and you have limited funds, you will certainly need to raise more money. With a poor rating, it will be difficult to borrow from banks, non-banking finance institutions, and online lenders. Creditors will delay or decline to approve your business loan application due to your negative past monetary activities. You must pay off outstanding payments or clear any other undesirable issues with the relevant scoring bureaus to improve your chances of qualifying for a business funding.

Final Thoughts

Poor credit history doesn’t necessarily mean that you were completely reckless. Perhaps you were hit by a medical emergency or unanticipated expenditure, leaving you in a tight financial situation. The good news is that you can change your situation by taking tactical measures to resolve the bad credit. Remember improving your score isn’t an overnight task – it takes time, hard work, and personal commitment. You must embrace smart money management practices and remain patient throughout the entire period.

The Simple Guide To Reducing The Bounce Rate On Your Website

September 16, 2019

When looking to decrease your bounce rate, it is important to look at the optimisation of your site as well as the content that is being written as this can all lead to people clicking off of your webpage. Whether you are optimising for SEO or you decide to opt for PPC, there are a number of ways that you can begin to optimise the site and maintain a healthy session time. In this article, we will be looking into how reducing the bounce rate on your site could be harming your website’s rankings.

Optimise Website Design

When looking to improve your bounce rate, it is important, to begin with, the website. If your website is outdated and does not operate properly, this could be one of the causes of the bounce rate. By redesigning the website, you are then able to fully customise it to ensure that it is fit for purpose. Whether this is changing the colour theme to a range of colours that are much more inviting or redesigning the homepage to be more visual rather than pages of text, this can all help to reduce the bounce rate and increase session time when visiting your website.

Decrease Loading Time

Another way to reduce the bounce rate is to ensure that your website takes less than 5 seconds to load. A recent study has shown that 40% of people will abandon a website if it takes more than 3 seconds to load with just a one-second delay potentially resulting in a 7% reduction in the number of conversions that your business could gain. Due to this significant reduction in potential conversions, it is important to prioritise site speed and ensure that it is as quick as possible as this could affect inbound marketing strategies.

Improve Content Readability

When creating new content, we tend to prioritize the readability of the content, but what about the content that is already on the site? Whether this is a few changes over the course of the year, or a dedicated content team working on refreshing the content on your site, this can all help to reduce the bounce rate whilst providing potential customers with the information that they need when visiting your web page. This is crucial as this will help to increase session time as well as boost the E.A.T score for your website.

Avoid Pop-ups

Though it may seem tempting to use a number of pop-ups to keep people on your site, this could actually be harming your website with an increase in the bounce rate. If there are a number of pop-ups that are preventing people to read content, this can lead to people clicking off of your website and finding information elsewhere. In order to combat this, it is important to keep pop-ups to a minimum for important information such as offers and cookie policies as this will help to provide the audience with additional information rather than being a hindrance.

Keep Meta Descriptions Interesting

When creating numerous meta descriptions it can be difficult to think of new and creative ideas to increase the clickthrough rate and entice the reader. However, it is vital that you keep both the meta description and the content as interesting as possible in order to encourage your target audience to read your content and engage with you. By keeping the meta description interesting, you are then capturing the attention of your target audience from within the Google search results and encouraging them to click.

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Where to Look for Penny Stocks

September 16, 2019

For beginners in the trading world, penny stocks can be an exciting concept. We all love the idea of spending a small amount of money on a handful of shares, only to discover that the company that we’ve invested in has tripled in size overnight. We can hope that the nature of low-cost shares means that you could potentially spend a few cents on a position and use it to make millions for your future.

However, the unfortunate truth is that the majority of penny shares probably won’t amount to much. To achieve incredible success in the penny stocks market, you need a combination of great timing, exceptional luck, and a fantastic trading strategy. Low-cost shares are highly speculative thanks to their large bid-ask spreads, low liquidity, and small-capitalization options. However, some people genuinely can achieve incredible results by trading in this area. If you think that you’re ready to give it a try, here’s how you can find something to invest in.

Stick to Reliable Trading Forums

The most important thing to remember when trading in penny stocks, is that there are multiple places you can go to find your shares – but not all of them are reputable. For instance, some of the best and most risk-free securities are available on major exchanges like NYSE and the Nasdaq market. These stocks are safer than their counterparts, because they’re held accountable to specific listing standards.

On the other hand, a lot of beginners in the investing market make the mistake of spending all of their money on trades that happen outside of the major stock exchanges. You can get some great deals on over-the-counter trading boards and pink sheets forums. However, these locations are also not subject to as many listing rules as their counterparts. There are no registrations required with the SEC when you list a company with the pink sheets, which means that there’s always a risk that an investor could end up being scammed out of their cash. To keep your risk levels to a minimum, it’s best to start off by investing mainly in the stocks you find on major exchanges. You can ask your broker for help choosing the options that are suited to your risk and trading strategy.

Choosing the Right Broker

The stockbroker that you pick to assist with your penny trading strategy will also play a fundamental role in your investment future. Brokers are the people who provide the infrastructure and technology you need to buy and sell positions in the stock market. Choose the right broker, and you’ll not only have access to all the right exchanges and forums, but you’ll also have the option to ask for additional guidance and support when you need it most. Many brokerage companies can offer insights into things like market behavior and industry changes, which could help you to make more informed decisions when you’re building your investment strategy for the first time. Always start your trading strategy with a broker that you can trust.

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Ilhan Omar’s Astounding Drama and Sordid Affairs!

September 14, 2019

Drama with politicians is nothing new. At this point, it’s basically expected. A few notable presidents have been especially famous for this.

Bill Clinton famously had an affair with Monica Lewinsky. Donald Trump has been married three times, and probably had at least one affair with prostitute Stormy Daniels at some point in the past. Nixon was involved in numerous scandals and conspiracies ranging from McCarthyism to assassinations. Andrew Jackson tried his best to become a dictator, and John F. Kennedy was probably the most promiscuous president to ever step into office.

And that’s just the presidents!

We’d be here all week if I dove into every scandal every class of politician has gotten into, like reading all the no deposit codes fair go at the carnival. Most of it would probably bore you to death, but this week a new scandal arose that’ll make a hilarious, if not bizarre, footnote in history. Let me tell you a bit about Ilhan Omar.

Who is Ms. Omar?

Congresswoman Ilhan Omar is a first-term representative from the state of Minnesota, making her the first Somali-American-Muslim legislator elected to office. Ain’t that a mouthful? She is one of the four congresswomen that are part of “The Squad”, a media title for a group of new, far-left, Democrat congresswomen that also includes Alexandria Ocasio-Cortez from New York, Ayanna Pressley from Massachusetts, and Rashida Talib from Michigan.

“The Squad” have a sort of notoriety, not because of what they stand for, but because they just seem to keep pissing people off on both sides of the aisle. They’ve all been very vocal against figures like Trump but also their own party leader, Nancy Pelosi, and I’m not even going to get into their thoughts on topics like the Green New Deal, Islam, and Israel.

Sordid Affairs, Fraud, and Hypocracy

Now, what’s this scandal I’m talking about involving Ilhan Omar? Let’s start from the beginning.

Ilhan Omar was born in Somalia and immigrated to the United States in 1995. She claimed that she was married at one point to a man named Ahmed Hsiri, although her marriage records only ever show her being married to a man named Ahmed Nur Said Elmi, and here is where things get weird because Elmi might actually be her brother.

It’s been difficult to prove, because Omar has refused to release any documents or even tell reporters how many siblings she has, and she claims that certain records like her birth certificate have been lost due to the civil war in Somalia.

Now, what this actually is not implying is any kind of Game of Thrones kind-of situation, but something closer to immigration fraud, if true.

To add to the weirdness of the story, a site called Alpha News posted pictures of Elmi, and reported receiving emails from someone claiming to be Elmi, requesting the site to take the photos down. In addition, the man also said that he had no recollection of ever being married, to Omar or anyone else.

And this isn’t even the end of the scandal! After Omar and Elmi divorced back in 2017, Omar went back to Hirsi in 2018 and they got legally married. Now, Omar and Hirsi are filing for divorce, and it appears that Omar has been having an affair with another married man, Tim Mynett, who has been a part of Omar’s campaign staff for a while now.

Now, this whole affair has been revealed in the divorce papers filed by Mr. Mynett’s ex-wife, Beth Mynett, who explicitly made sure that the whole story was put into the papers. According to the New York Times, Ms. Mynett cited Extramarital Affair as the reason for the divorce and said that Tim Mynett “made a shocking declaration of love” for Omar.

In addition to just being a terrible thing to do, the New York Post reports that Ilhan Omar has been paying Mr. Mynett out of her campaign finances, for a number of dubious reasons, a sum total of $230,000 dollars! Not only is that a lot of money to pimp out a partner with, but it’s also incredibly illegal.

Bottom Line

What we’ve got here is a fascinating story of love, fraud, and hypocrisy. She claims to be a refugee but has allegedly lied every step of the way. She claims to be a Muslim and has even declared support for Sharia law – a law system that would have her stoned to death for the crime of adultery.

Ladies and gentlemen of Minnesota – your representative.

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3 Smart Ways to Manage the Financials at a Smaller Business

September 13, 2019

A smaller business that wants to eventually be listed on the AIM market or sell out to a larger competitor can increase the chances of this happening by deftly managing their financials. In this article, we cover three smart ways to manage a small company better from a financial perspective to come out on top.

Consolidate Suppliers

Small companies often order goods by letting anyone do so as needed. This is fine when there are only 2-3 people in a tiny office, but it quickly becomes unmanageable when more staff join the business. At this point, everyone is thinking they did right by the company when they got a good deal, but this is rarely the case.

By using a single supplier for most business-related consumables, discounts can be negotiated for larger order values. There’s also the possibility to settle the invoice quickly which sometimes drops another few percentage points off the invoice value too. The total savings add up when a company is organised with few suppliers.

Reduce Electricity Costs

The electricity bill is surprisingly high with most companies. The lights are usually on in every room for safety reasons, PCs, printers and other electronic equipment is left running most of the time too. There’s a fair amount of waste with electricity use in the business environment.

To save money, companies must take a sensible approach to electricity use. All electronics must be approached from the perspective of how to save money during its use and when it’s not in use too. This could be when the printer or PC is not needed right now, overnight, or at the weekend when they should be turned off completely. Look for energy saving modes and other energy reduction features to cut the bill down.

Also, use a service that can find the cheapest business electricity provider in the area. One of the best currently is Utility Bidder which can provide an online quote to compare to your current cost per kilowatt and compute out the likely savings in the future.

Get More Affordable Insurance

Look for ways to renegotiate business insurance package to make them more affordable too. Consider whether the amount of current coverage is reasonable, not enough, or excessive. If the insurance hasn’t been updated in years, then it could be not enough. In which case, raising the insurance coverage is required, making finding lower priced insurance even more paramount. Look for an insurance broker that can take your company’s coverage requirements and find you a policy that will be acceptable at a lower price than you’ll be paying otherwise. Avoid underinsuring to save money, but don’t overpay either. Also, consider the solvency of the insurer because they need to be able to pay out any claim, so going with a bigger name is sometimes advisable.

Ultimately, by reducing expenditure, it boosts the bottom-line results. This frugality can help the company fund future expansion plans or make it a more attractive acquisition target due to its higher profitability and better return on equity

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5 clever ways to improve your financial situation

September 11, 2019

Perhaps like most people, you don’t see your financial situation to be perfect. You may be struggling every month to pay off all your financial responsibilities, you are unable to save up, and you can barely afford to pay for the “guilty pleasures” we all have such as a vacation every now and then.

Understanding how money and finances work is the key to having a worry-free financial situation. It doesn’t mean that you need to be a math or personal finances expert or to make dramatic changes in your life to improve your financial situation. It takes a little bit of planning and more financial responsibility from your side to learn how to manage your money better. Here are 5 clever ways that will help you make some improvements in your personal finances:

1. Make a budget and stick to it

The very first step into improving your financial situation is to become more aware of your incomes and spending behaviors and habits. If you often find yourself struggling to save money or to make it until the next paycheck day with no cash in your wallet, you certainly lack financial responsibility.

A well-detailed budget is the best way to become more considerate about the way you manage your money. Have a monthly budget that will include all your incomes, financial responsibilities, such as utility costs or living expenses, and your financial priorities. For example, if you have a debt that must be paid every month, that is the first thing you should pay for when you get your paycheck. Also, your budget can include the financial goals that you are planning to achieve to improve your financial situation.

Use your budget to understand exactly what you are spending your money for and how you can do it more efficiently so that you won’t face any financial issues in the future.

2. Set financial goals

Setting goals is a great method to achieve almost everything that you want. Small goals can help you stay focused on achieving what you want to because it allows you to take things step by step until you reach your final goal.

Whether your final goal is to improve your incomes or to save a certain amount of money for the future, setting small goals along the way can help you remain focused on achieving them. For example, if you are planning to save up a bigger amount of money, you can set the goal of putting aside a certain smaller amount from your paycheck each month.

3. Tighten your belt

Tightening the belt to improve our financial situation is something that no one wants to hear. However, it is a necessary step, especially if you are an irresponsible spender. In fact, do you really need all the things you buy or you could easily go well without them too? Take a look at your spending habits and try to eliminate the costs that are unnecessary. The money you save from not buying unnecessary items can be more important than you think for improving your bank account situation. From avoiding unnecessary spending, you can save more for things that are really important and you will have a worry-free financial situation.

4. Cut down on utility costs

Most likely, most of your money goes on paying bills every month. Whether it is your debt or your utility bills, most of your money goes for paying your financial responsibilities. While some costs cannot be avoided or cut down, some of them can be reduced if you are willing to make a little effort.

Your utility costs can certainly be reduced if you will be more considerate about turning off your electricity when you are not at home, using a thermostat to save on the gas expenses, or by doing chores during night time. The money you save by cutting down on your utility costs can go to your savings account and help you improve your financial situation.

5. Take advantage of technology

In today’s digital era, technology can help you with everything that you dream to achieve, including improving your financial situation. There are various ways that in which you can take advantage of the technological innovations available today to make sure that you understand your finances better, save more, and improve your incomes. Here are a few examples of how technology can help you improve your personal finances:

Invest to improve your income- The best way to improve your financial situation is to improve your monthly income. Thanks to technological advancements, nowadays, everybody with a computer and a good internet connection can invest in alternative methods such as forex trading or the stock market and gain huge profits. The real-time access to an unlimited amount of information makes it easy to copy the trading activity of an experienced trader and find an FX broker operating in Belize that offers the most favorable conditions. Trading forex is a great way to earn an extra income while you are having a full-time job. Also, you can use forex trading apps to stay updated with the latest financial news worldwide that can influence your trading decisions.

Use a budget tracker app- Nowadays, when you always have your smartphone in your pocket, you can easily track your budget using an app designed for it. All you have to do is to enter a few details about your monthly income and financial responsibilities and the app will help you keep track of your spending and stick to your budget.

Save automatically – If you find it difficult to save money because you either forget or you tend to spend them as soon as they reach your bank account, you can now start saving automatically. Using the app designed for your back account, you can set aside a certain amount from your incomes to automatically go to your saving account every month.

Improving your personal finances doesn’t have to mean making drastic changes in your life. It all comes down to learning how to manage your finances more efficiently, improving your income with innovative solutions, and prioritizing your expenses by becoming a responsible spender.

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Turning Vicious Cycle to Virtues of Islamic Banking

September 11, 2019

By Vita Arumsari and Yunice Karina Tumewang

For a country like Indonesia that has the largest Muslim population in the world, Islamic banking is moving in slow progress – with only less than 6% contribution on the country’s total national banking asset and only 8% of the total population knowledgeable on the Sharia-compliant financing. Yet, Indonesia still poses a great potential on boosting the Islamic banking sector, the authors argue.

Indonesia, the largest target market for Islamic finance with more than 200 million Muslim citizens, is struggling so hard to be placed at the 10^th rank, left behind by the neighbouring country Malaysia which leads the Global Islamic Economy Indicator for the fifth year in a row (Reuters, 2017). As witnessed today, the development of Islamic banking as the core sector of Islamic finance is still far from satisfying the expectation. According to Financial Service Authority (OJK, 2017), the total asset of Islamic banking is only around IDR 400 trillion or equal to 5.18% of national banking asset. In line with that, the market share of Islamic banking is merely 5.78% of the national banking. Whereas on the total fund collected from society, Islamic banking is only able to acquire IDR 341 trillion compared to the total society fund in national banking which is not less than IDR 5,289 trillion. On the side of distributing fund to society, the number is quite the same, IDR 291.18 trillion from Islamic banking compared to IDR 4,782 trillion from total national banking.

The under-performance of Islamic banking might be due to the limited product diversification offered, the low level of differentiation of Islamic banking from its counterpart, and the low literacy level of Islamic banking among society.

According to Head of Commissioner Board of Indonesia Deposit Insurance Corporation (LPS) Halim Alamsyah, one of the factors hindering the acceleration of Islamic banking is that they merely focus on the role as an ordinary intermediary function, rather than maximising their potential role as an investment or social agent. Hence, it made no difference with the conventional one. They, supposedly, can do better if they are more willing to manage the social funds for investment on real-sector activities, which is highly Sharia-compliant and socially-impactful.

Taking a closer look at the contracts of Islamic banking, more than 50% of total transactions are using murabahah agreement, which vulnerably becomes ribawi if continuously run in a long-term. Obviously, fatwa shopping becomes an issue in this case, as it is hard to find an appropriate rule of conduct for this dominant transaction. Most Sharia Advisory Board sitting in multiple banks and other professionalism issues is largely considered as the root cause of this problem. Moreover, until now, Islamic banking is still not allowed by our regulation to have inventory in their business for keeping the commodity to be sold. Hence, it is very hard for Islamic banking to fully manage the risk according to Sharia as well as to comprehensively agree with PSAK 102 as the accounting standard for murabahah transaction.

Based on the survey conducted by OJK (2017), it reveals that literacy of Islamic finance in Indonesia only reached 8.11%, which means that among 100 people, there are only 8 people who have knowledge about the Sharia-compliant finance. While the inclusion level of society taking financing benefit from the Islamic finance sector is only 11.06%, which means that there are only 11 out of 100 people who make financial transaction in a Sharia-compliant sector.

Overcoming the problems mentioned above, tackling fatwa shopping should be done as the priority and systematically. Firstly, by standard legalisation – once the decision is made, there is no bargaining process even to the other Ulama. Secondly, there should be transparency from the SSB to the society. This covers the reason behind the issued permit. In other words, we let society keep an eye on the Islamic financial institutions. Thirdly, audit compliance should be stated similar to the financial audit where they should be featured in the financial report for the sake of transparency. Banks should have minimum procedure or characteristics that should be implemented. Lastly, beyond the minimum procedures, they can innovate much as they like to attract customers as long as they do not cross the borders.

Expanding the products variety not limited to murabahah is urgently needed. Product application other than murabahah might be costly in terms of human resources and operational cost. But, we should emphasise that profit and loss sharing are the unique characteristics of Islamic products that cannot be left behind. Based on this fact, banks apply this principle only for the ‘giant’ customers. On the other hand, for retail financing customers, it is more practical, theoretically and practically to decide the margin without supervising the amount of income they generated. If banks find it too hard, why don’t we create an Islamic financial institution (IFI) to cater to the need of profit and loss sharing principles? If in the end, Islamic financial institutions and banks feel overwhelmed, why don’t we implement IFIs using social funds to see first if it is worth the risk?

Finally, socialising in the grassroots level is vastly needed. The question is, how to make it feasible for educating hundred millions of Indonesians? Educating regional leaders who will then educate its people is inevitably crucial. This kind of system is similar to multilevel marketing where each leader needs to look for a group of people to be educated. Involving the society to the Islamic Financial Institutions is also important. By doing so, they can understand better what is going on inside the IFIs. But one thing should be understood, the government should be aware that once the society has comprehensive knowledge about IFIs, they would require pure products. If the government cannot provide this, it can trigger a movement towards Islamic finance institutions. To cater to this, the government should ensure, particularly OJK, to educate DPS to be more selective and strict about the feasibility of the products based on the Islamic financial principle.

With two-way collaboration between the government in voicing Islamic finance as the new alternative of banking and the society as the main player, we could turn around the vicious cycle into virtues of Islamic banking.

All in all, Islamic finance is more than willing to create a fully Sharia-compliant system. However, no matter how great the system and intention are, it is impossible without gaining trust, support, and cooperation from the society. Furthermore, Indonesia as the largest country with Muslim population ideally should be able to cater to the need of the citizens to practise Islam as a whole (kaffah). By doing this, it will not be impossible for Indonesia to be the hub of Islamic finance in 2030. With two-way collaboration between the government in voicing Islamic finance as the new alternative of banking and the society as the main player, we could turn around the vicious cycle into virtues of Islamic banking.

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About the Authors

Vita Arumsari, S.ST., M.Sc. is a lecturer at Politeknik Negeri Semarang. She is a graduate of Islamic Finance in Durham University, UK.

Yunice Karina Tumewang, S.E., M.Sc. is a lecturer at the Accounting Department, Universitas Islam Indonesia

Top payment mediums that form the backbone of online gaming industry

September 10, 2019

The way technology has been constantly disrupting all industries world over, online gambling too has been impacted by it over the years. Gambling on the Internet is expected to cross $ 94.4 billion revenue by the year 2024 and one of the factors that will decide if it actually accomplishes that target or not, is the variety and reliability of the payment methods offered to the customers.

Payment processing is one thing that can even make the most sane-minded player blow a fuse. Unwanted delays and withdrawals in deposits/withdrawals can frustrate any player, no matter how long he/she might have been playing with the platform. Often, reputed casino platforms provide multiple payment methods that cater to the needs of different customer requirements. To give you an example, for some players a high withdrawal/deposit limit is a priority while for others processing speed is the key, yet for many players anonymity of the transactions is of utmost importance. Casino.com, a leading Playtech casino is one of the many reputed online casino platforms that actively uses many such payment methods to make online gambling a hassle-free experience for its customers. Let’s go over the top 5 of these deposit/withdrawal methods below:

Paypal

Considered the most popular electronic wallet in the world today, PayPal offers for easy and quick money transfers, and has muscled its way to the top of the digital money stack today. It is ideal for online casinos, provided they are allowed to use it as a valid funding method in their country of operation. If you stay in the UK, you might find a handful of online casinos that offer PayPal as one of the payment methods, else you can always opt for e-wallets such as Neteller or Skrill.

Bank Transfer

Transferring funds through this medium is also extremely popular, although it involves a small fees. The money is directly received into your bank account without passing through different providers, which seems preferable to many customers. Deposits can take 3 to 5 working days, while withdrawals get processed in up to 10 working days, depending upon where you stay and the bank you do business with. This is the most commonly used option by high rollers who need to transact in thousands, and sometimes hundreds of thousands of dollars.

Neteller

A quick payment medium, Neteller enables you to move funds in and out of your account in a very smooth way. Majority of the transactions done through it involve no charges and are processed right away (maximum within 24 hours).

Mastercard

One of the two most commonly used debit/credit cards in the world, MasterCard is a legacy brand which has led the finance industry to success over a period of time. It is widely used as the most preferred funding and withdrawal method at online casinos throughout the world. Usually, no fees is charged on both deposits and withdrawals.

Visa

The other popular debit/credit card, Visa has the largest financial network in the world, with 30 million+ transactions processed every single day. It’s a multipurpose card that enables you to move your money around in the swiftest manner possible. The deposits/withdrawals are processed without any charges and the company uses multiple firewall systems and failsafe practices to ensure the safety and security of its customers’ data.

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Playing Online Casinos Worldwide: What you should know

September 10, 2019

Playing at online casinos can open a world of questions for the beginning player. Whether you’re concerned about the legality of playing at offshore casinos in your jurisdiction, if online casinos scale the favor in their odds beyond the traditional house edge, and what type of online casino games are the most popular, we attempt to answer those questions in this topic.

Offshore vs Locally Regulated

There can be some confusion about the term “offshore casino”, and for whatever reasons, it can draw up negative connotations in the mind, as the term “offshore” can also be applied to shady business practices. However, let’s dispel that myth, as offshore casinos can usually provide numerous safety and convenience features for their customers.

An offshore casino does not mean it is entirely unregulated, and running a scam, free to create their own rules. Many offshore casinos are properly licensed by reputable gaming jurisdictions, and must follow strict laws and regulations as you would expect of any proper gambling operation, whether online or land-based.

“Offshore casino” simply means the casino operates outside of your local gambling jurisdiction. For example, Casumo online casino has its headquarters in Malta, and has licenses to operate from both the Malta Gaming Authority, and the UK Gambling Commission.

Offshore casinos provide a viable method of online betting as an alternative to situations where casinos in your jurisdiction are either heavily regulated and difficult for casino operators to obtain a local license, or casinos are banned altogether. In the latter case, it may not be “illegal” for you to engage in online casinos, but you should check your local laws. Some U.S. states, for example, do in fact have laws that make it illegal to gamble online.

In order to determine whether you should trust an offshore casino, do some research and make sure the casino operator meets the following criteria:

• It is licensed by a reputable gambling jurisdiction.
• It is protected by a minimum of 128 Bit SSL (secure socket layer) digital encryption security.
• It offers games from trusted software providers.
• It is audited by a third-party testing agency, like eCOGRA.
• It offers recognisable and trustworthy payment methods.
• It supports responsible gambling practices.

Understanding the Random Number Generator Used by Online Casinos

The random number generator (RNG) is a critical and perhaps the most important bit of code employed by the online casino industry. It serves several purposes which we’ll explain, but first let’s examine exactly what the RNG does.

The random number generator is software code that simply generates random numbers, true to its name. The range of numbers are of course specified by fields (i.e. number # to number #), depending on the game type. But make no mistake, the RNG is used in nearly all online casino games, from card games like blackjack and poker, to table games like roulette, craps, and even slot machines.

This can be also used by land-based casinos, particularly in their games that are software-driven such as slots and video poker.

RNGs essentially cycle through their numbers thousands of times per second. So when you press the “deal” button in a game of blackjack, the program simply stops on whatever number at the exact millisecond. The random number generator is hardly ever “rigged” in the casino’s favour, and the RNG developers give special attention to tweaking the RNG parameters to give the player the same odds they would receive in a land-based casino. An online casino that manipulated their random number generator would quickly lose all of their customers. In a roulette table, RNG software is used to ensure the random and unbiased outcome of each spin, making it impossible for players or the casino to predict the results with certainty. This technology guarantees the fairness and unpredictability of the game, providing a level playing field for all participants.

The purpose of the RNG is not only to simulate the odds you’d expect in a land-based casino, but it can also deter things like card counting in blackjack, along with other practices like every-hand shuffling, or infinite decks.

Slot Machines are the Top Earners for Online Casinos

The global gambling industry is expected to reach around $74 billion USD by 2024, and currently, slot machines are leading the way. Over 70% of the industry profits are generated by online slot machines, on a global scale.

Slots are the most popular in the United States and Australia, though European countries seem to prefer table games. In any case, online slot machines are far more advanced than the “match-3 fruit” machines of the past. Many modern slots are incorporating 3D graphics, storylines, and an overall “videogame-like” experience.

The introduction of video game-type elements to online slot machines can be compared to the old arcade games of the past, actually. When the arcade game involves a storyline, players may simply feed the arcade game with quarters to continue the game and finish the story. 3D slot machines may be operating on this principle, where players feel rewarded with game progress, instead of win/lose ratio (though that certainly players an important factor).

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