An education loan is a sum of money borrowed to finance college or other school-related expenses. Payments are often deferred while students are in school and for a six-month grace period after graduation.
Month: March 2020
Zakat is an Islamic finance term referring to the obligation that an individual has to donate a certain proportion of wealth each year to charitable causes. Zakat is a mandatory process for Muslims and is regarded as a form of worship. Giving away money to the poor is said to purify yearly earnings that are over and above what is required to provide the essential needs of a person or family.
Demographic dividend refers to the growth in an economy that is the result of a change in the age structure of a country’s population. The change in age structure is typically brought on by a decline in fertility and mortality rates.
An offset mortgage is a type of mortgage that involves blending a traditional mortgage with one or more deposit accounts held by the same financial institution. The savings balance maintained in an account may offset the mortgage balance.
Liar’s Poker is a game often associated with Wall Street traders. It involves a mix of statistical reasoning and behavioral psychology tactics.