verb used to describe a cheque
being paid into a bank account but the drawer having insufficient funds in the
account to cover the value of the cheque. In common parlance, ‘The cheque has
bounced’. In some cases the drawer’s bank will allow a temporary overdraft if
the drawer meets certain financial criteria, but unless stipulated in the
account contract, it will be a discretionary goodwill gesture. A bounced cheque can
incur penalties for the drawer.
term for a country’s stock
market, particularly in Europe, for example the Paris Bourse. The
origin of the word is not clear, but it could come from bursa, the Latin word for purse.
of basis point, a
fine measure of percentage. One basis point is 0.01%, so 100 basis points equal
1%. Often vocalised as ‘bip’.
building belonging to or rented by a bank or other business where its
public-facing employees work, and where customers can visit to engage in their
banking business. The larger banks have branches all over their countries of
operation or worldwide, but some banks’ branches are restricted to smaller
regions. Branches will usually have several cashiers, automated teller machines
and areas where customers can meet with staff, management and corporate
representatives to discuss their banking business.
break even?Make neither
a profit nor a loss, that is, receive
exactly from an investment what was first investment. Breaking even can often
be counted as a loss because time and effort has been taken in a non-profitable
venture for no gain.
broker?A person or company who does not
trade with their own goods,
services and money but acts as a
middle-man or agent, linking up those selling with those wishing to buy
goods or services. The broker will charge for this service, which is a payment
for the broker’s specialist expertise, technology bought or hired to speed up
or otherwise assist the job, contacts and time. This charge is either a
percentage of the value of the trade or a set fee.
brokerage fees?Charges made
by brokers for
their services. Because of fees, any financial activities that go through
brokers must make a minimum gain if the transaction is to be profitable. Breaking even, for example,
when a security neither
grows nor shrinks in value, will result in a net loss as the brokerage fees
will not have been covered when the securities are sold.
Bukhari, Muhammad ibn Ismail al-?A
ninth-century ce Islamic scholar, noted for his painstaking research
into the authority of hadiths,
and after whom the canonical collection of hadiths known as the Sahih al-Bukhari are
named (the word sahih
means correct, valid and sound).
bull?A person who
believes that the stock market is on an upward trajectory, and who would
therefore be likely to invest (see bull market).
bull market?A bull
market is a state of growth in a key set of shares or securities, or simply an optimism that
such a growth is about to take place. The word ‘bull’ is used because when a
bull is attacking, it charges with its horns close to the ground and then
sweeps its head upwards, a trajectory mirrored by a graph of the stock market.
The opposite, the bear market,
mirrors the downward action a bear’s paw takes when it is attacking.
buraq, buraaq? A mythological horse-like
creature, often thought to have wings and capable of extreme speeds, sent from
the heavens to transport the prophets.
It is said that it could take one stride as far as the horizon. The best known
buraq is commonly known as Al-Buraq, and it is the one which carried the Prophet Muhammad from Mecca to Jerusalem and back
during the Isra
and Mi’raaj or the ‘Night Journey’.