Haseeb Awan2019-05-12T19:39:47+00:00

Weaker Loonie against USD – Who’s getting hammered here ?

From Acuras to iPhone applications, suits to sweet potatoes, Canadians will be paying more for imported products, on account of the loonie's fall against the U.S. dollar. It has dropped by almost 10% in last 12 months which is a significant drop in a short horizon of time. Although it’s not the highest one, but certainly rank among them. “Who wins and who loses when the loonie gets hammered” Obviously it’s the end customer who will be paying more. Increasing costs are passed [...]

March 5th, 2016|Categories: Fintech, Life|

Negative Interest Rate Policy (NIRP) – Friend or Foe?

Whenever we borrow any amount, we expect to pay an interest on top of the principal amount. Recently it was increase after almost a decade however buzz word of negative interest rate have started to circulate in financial world. It's not a new concept and currently exist in multiple EU countries. “Consider it as a Tax on your balances without even defining it to offset loss in revenue due to reduced economic activities” NIRP is a desperate attempt to boost economy in tough [...]

February 29th, 2016|Categories: Fintech|

11 facts about Cayman Island

I was in Cayman Island recently and was fascinated by how developed it is. Sharing some of the interesting facts here 1 - Cayman has its own currency; the Cayman Island Dollar (CI$). This is tied to the U.S. dollar and does not fluctuate from it. The cash exchange rate is CI$1.00 = US$1.25. 2 - There is no income tax, capital gains tax, or corporation tax. There is a 10 percent government hotel tax and a stamp duty ranging from 7 ½ [...]

February 10th, 2016|Categories: Fintech|

Three Ways To Stay Current In The Financial Services Industry

The financial services industry is a cutthroat market with razor-thin margins, making it one of the toughest industries in which to generate profit. Yet, for Fintech startups, it is one of the least chartered, most lucrative sectors. Accenture recently reported that fintech investments grew 201 percent in 2014 compared to the previous year. As a comparison, overall venture capital investments grew only 63 percent in the same period. There is little doubt that today’s financial systems are inherently complex, outdated and inefficient. The potential to innovate within [...]

January 27th, 2016|Categories: Fintech, Startups|

Interest rates increased after almost a decade

So Finally FOMC increased the interest rates this week by .25% after almost a decade as expected. Though it was fixed since 2008 at 3.25%, June 2006 was the last time it was increased. Federal Open Market Committee (FOMC) mandate is to determine the prime interest rate & money supply.It was formed through the  Banking Act of 1933 & were supposed to meet four times a year. However since 1981, they are meeting every five to eight weeks at least 8 times a year to [...]

December 18th, 2015|Categories: Fintech|

Will FOMC end the history’s longest interest rate freeze tomorrow ?

Prime rate is the interest rate at which bank is suppose to lend money to their best customers. It is set as a reference to determine what are the best possible terms at which some one can get interest. In actual, interest rates could either be higher or lower than the prime. Federal Open Market Committee (FOMC) mandate is to determine the prime interest rate & money supply.It was formed through the  Banking Act of 1933 & were supposed to meet four times a year. However [...]

December 15th, 2015|Categories: Fintech|

FinTech startups don’t want to be a Bank

Banks are boring & claim to be next generation bank is rarely heard in startup world. Banks were born out of need to store the cash safely.  Banks generally have a very good perception of trust & security among masses which led to position themselves as one-stop shop for anything financial related. Over time they built the brand , distribution & resources to up-sell other financial products such as loans, insurance, money transfers etc. As any other business, competition have started to hurt the [...]

December 3rd, 2015|Categories: Fintech, Startups|

Biggest challenge for a money remittance company

Every week, a new startup is born to grab the 600 Billion remittance market volume . With an average fee of 7% approximately 40 billion dollar are paid in fees and despite dozens of startups trying to reduce it, fees are not coming down as anticipated. Even though we blame the remittance companies for higher fees, the industry have some additional challenges which other industries haven't even heard of. The biggest challenge in running a MSB ( Money Transfer Business ) isn't higher cost [...]

November 24th, 2015|Categories: Fintech, Startups|

What is your management style ?

Someone asked me a question about my management style. Let me give a disclose that I have not been very good at it and this is the most difficult task that a founder has to encounter. While I am not pro at it, I thought of asking this question from myself for days and came up with following Ideal management style is a style in which people don’t have to be managed Now it goes more about the culture where everyone can think [...]

November 5th, 2015|Categories: Life, Startups|

Millennial – Generation of two decades

Everyday, we come across the term "Millenials" or "Generation Y". Companies/Startups are overusing this term to define their customer base. From just the sound of  it, image    portrayed in mind of a Millenial is a teenager who is snap chatting on his new iPhone with music played on his flashy expensive branded headphones. However, it’s not quite right. Any person born between 1980 - 2000 counts towards Millennial. As of today, it’s the generation aged between 15-35. That’s a difference of two decades. I [...]

October 27th, 2015|Categories: Life, Startups|