Bank

A bank is a financial institution that creates credit by lending money to a borrower, thereby creating a corresponding deposit on the bank's balance sheet. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial system and influence on national economies, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.

Banking in its modern sense evolved in the 14th century in the rich cities of Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and lending that had their roots in the ancient world. In the history of banking, a number of banking dynasties — notably, the Medicis, the Fuggers, the Welsers, the Berenbergs and the Rothschilds — have played a central role over many centuries. The oldest existing retail bank is Monte dei Paschi di Siena, while the oldest existing merchant bank is Berenberg Bank.

Khan Academy

Khan Academy is a non-profit educational organization created in 2006 by educator Salman Khan with the aim of providing a free, world-class education for anyone, anywhere. The organization produces short lectures in the form of YouTube videos. In addition to micro lectures, the organization's website features practice exercises and tools for educators. All resources are available for free to anyone around the world. The main language of the website is English, but the content is also available in other languages.

History

The founder of the organization, Salman Khan, was born in New Orleans, Louisiana, United States to immigrant parents from Bangladesh and India. After earning three degrees from the Massachusetts Institute of Technology (a BS in mathematics, a BS in electrical engineering and computer science, and an MEng in electrical engineering and computer science), he pursued an MBA from Harvard Business School.

In late 2004, Khan began tutoring his cousin Nadia who needed help with math using Yahoo!'s Doodle notepad.When other relatives and friends sought similar help, he decided that it would be more practical to distribute the tutorials on YouTube. The videos' popularity and the testimonials of appreciative students prompted Khan to quit his job in finance as a hedge fund analyst at Connective Capital Management in 2009, and focus on the tutorials (then released under the moniker "Khan Academy") full-time.

Wealth Migrate

Wealth Migrate is an online marketplace that allows users to directly invest in a property suggested by the website itself.

History

Scott Picken and Hennie Bezuidenhoudt founded Wealth Migrate in 2009. The company is a crowdfunding property company, that allows individuals to invest in property around the world. The company allows for investors to make both residential and commercial investments, dependent on the country where the investment is taking place. The concept was a spin-off idea from Picken's university thesis, which discussed the use of technology in financial markets during the late 1990s. The company initially assisted South African's with their overseas investments, before expanding to other markets.

The CEOs of Wealth Migrate and its competitors predict that the crowdfunding will grow exponentially over the next decade, with many using Wealth Migrate as a common example of how to bring the two markets together. In 2014, The Huffington Post listed Wealth Migrate as one of the top United States Real Estate Crowdfunding Platforms. Later that year, it was stated that the crowdfunding market had made over $2.5 billion in a single year, with predictions that crowdfunding would continue to grow as a way of investing in real estate.

Central bank

A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base in the state, and usually also prints the national currency, which usually serves as the state's legal tender.

The primary function of a central bank is to control the nation's money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis. Central banks usually also have supervisory powers, intended to prevent bank runs and to reduce the risk that commercial banks and other financial institutions engage in reckless or fraudulent behavior. Central banks in most developed nations are institutionally designed to be independent from political interference. Still, limited control by the executive and legislative bodies usually exists.

Banking in Italy

Banking in Italy has, as of 11 October 2008, an average leverage ratio (assets/liabilities) of 12 to 1, while the banks's short-term liabilities are equal to 86% of the Italian GDP or 43% of the Italian national debt.

The origins of modern banking can be traced to medieval and early Renaissance Italy, to the rich cities in the north like Florence, Lucca, Siena, Venice and Genoa. The Bardi and Peruzzi families dominated banking in 14th century Florence, establishing branches in many other parts of Europe. One of the most famous Italian banks was the Medici Bank, set up by Giovanni di Bicci de' Medici in 1397. The earliest known state deposit bank, Banco di San Giorgio (Bank of St. George), was founded in 1407 at Genoa, Italy, while Monte dei Paschi di Siena, founded in 1472, is the oldest surviving bank in the world. Unicredit is one of the largest bank in Europe by capitalization and Assicurazioni Generali is the seventh in the world by total assets

See also