Baldwin Bicycle Company: Background of the Study

BA-561 MAC Abdulgaffur G. Deki Oscar M. Inocencio Chester V. Lagutin Felomena C. Baal Edsel Cariz J. Tiu 12 October 2012 â€Å"Baldwin Bicycle Company† Background of the Study: Baldwin Bicycle Company (BBC) is a full-line bicycle manufacturing company with 40 years of experience. In 1982, BBC has revenue of over $10M for 98,791 units produced. BBC exclusively distributes through independently-owned retailers, their bicycles are known for their above-average quality. In May 1983, a rapid-growing Northwestern discount retail chain, Hi-Valu, Suzanne Leister, VP Marketing, proposed a private-label agreement.Under this program, BBC would manufacture the Challenger line of bicycles exclusively for Hi-Valu. The Challenger line was to be a low-priced value bicycle, sold at retail prices under BBC’s normal product lines. Statement of the problem: What is the overall impact to the company if BBC will accept the proposal in terms of? a. ) PROFIT b. ) RETURN ON SALES c. ) RETURN ON ASSETS d. ) RETURN ON EQUITY Objectives: 1. To be able to show and analyze the proposal depending on the result which will be used to serve as a basis for making decisions. 2.To determine the total relevant cost in producing additional orders for Hi-Valu. Areas of consideration: 1. BBC sales over the next three years would be 100,000 bikes a year if they will forego the Hi-Valu deal. 2. If BBC will accept the offer, 3,000 units will be lost in regular sales volume a year. 3. According to Ms Leister, Vice President for Marketing, she was acutely aware that the â€Å"bicycle boom† had fattened out, and that poor economy had caused Baldwin sales volume to fall. 4. BBC was currently operating its plant at about 75% of capacity meaning, 75,000 units is currently produced. excess capacity 25,000 units) 5. The contract between BBC and Hi-Valu is for three years and will be automatically extended on a year to year basis, unless one party gave notice that it did not wish to extend th e contract. 6. Most of BBC sales were into independently toy stores and bicycles shops, BBC had never before distributed to its product to department store. Its BBC’s first time to deal such client. 7. Hi-Valu wanted to purchase bikes from BBC at lower prices that the wholesale prices of comparable bikes sold through Baldwin usual channels. 8.If the proposal will pursue BBC requirement for purchasing, inventory and production cost will increased. 9. Hi-Valu would hold the units on consignment in its own warehouses and withhold payment until delivery to a specific store. 10. A bicycle would be paid within 30 days once a bicycle was shipped to a specific store or 120 days had elapsed in the regional warehouse. Alternative courses of action: 1. Reject proposal RISKS: a. ) BBC may face continually declining sales due to a poor economy. b. ) BBC will continue to produce at only 75% production capacity. c. Another disadvantage is that the offer price of Hi-Valu was lower than the r egular selling price. d. ) There is an additional cost involved in producing additional units from Hi-Valu the $5,000 additional cost plus the asset related cost. e. ) The possibility that the current dealers of BBC might drop-out line if they find that BBC is making bikes for Hi-Valu. f. ) The freight charge will be shouldered by BBC until it reached the destination of Hi-Valu warehouse. g. ) additional from regular sales of 3,000 units from regular costumers. ADVANTAGES: a. ) Maintain loyalty from current distributors . ) Maintain 40-year reputation for above average quality and price. 2. Accept Proposal RISKS: a. ) Current dealers may drop Baldwin line. b. ) Current dealers may request a similar product c. ) Putting faith in a new product d. ) BBC may find itself with an abundance of Challenger-specific inventory e. ) Extra costs may result in having to use cheaper materials f. ) Loss of â€Å"street cred† ADVANTAGES: a. ) Greater penetration of the mark through new market segments b. ) I f Baldwin name is not on the Challenger bike, BBC’s reputation may not be damaged c. Strong Challenger sales may balance weak Baldwin sales d. ) With Challenger line, BBC will be producing at a higher capacity Recommendation: The group recommends the alternative courses of action number two which state Accept the Proposal. The followi ng computations was the basis of the recommendation. Potential Problem Analysis: 1. Additional cost is involved. 2. Lost additional sales from the costumers 3. Additional investment to finance additional increase in receivables, inventories, record-keeping,tax inventory, handling labor and equipment, possible obsolescence and or damage.

Juno by Jason Reitmen Essay

In the film Juno directed by Jason Reitmen the relationship between the main character Juno, and Mark is very important. This relationship helps the viewer learn more about Juno’s journey to motherhood and in each scene we are shown her development to maturity. Juno’s relationship with Mark influences the story line and helps the viewer understand Juno’s character and why Juno makes many of her decisions. The decision she faces is that of a pregnant 16 year old. The way she views her friend, Mark, develops and changes as she matures on her journey to motherhood. From the beginning of the film Juno has a clear picture of the perfect parent for her child. Mark fits what she is looking for ideally. He is a fun and relaxed man. He is into the same music as Juno, plays guitar and has terrific taste in horror films. When Juno is looking though the penny saver for adoptive parents she says â€Å" I just can’t give my baby to someone who describes themselves as â€Å"wholesome.† I am looking for something a little edgier.† This is when she sees Mark and Vanessa Lorring’s advertisement, which is exactly what Juno, is looking for. When first visiting the Lorring’s Juno and Mark play on his guitars, instantly bonding. Right from the start Mark is Juno’s preferred parent. I learnt through this that at the start of her pregnancy Juno has an innocent idea of parenting. Juno and Mark’s relationship deepens as time goes on. From the first time Juno meets Mark she shows an immense interest in him as a Father. She starts finding excuses to go around and see him, dropping in for the slightest reason. As their relationship grows they start watching movies together, ringing each other and recommending songs. At this stage she is firmly of the view that Mark would make a perfect Father for her baby. When talking about Mark Juno says, â€Å"It was cool, he is kind of cool.† At this point the audience may be questioning why a man that much older than Juno has so much in common with her, and questioning if Juno’s views on Mark are realistic as Bren does. The reactions and comments of other characters help Juno to consider her opinions in a different light. When Juno arrives home from Mark’s late at night Brenda is concerned about Juno. â€Å"That was a mistake Juno. Mark is a married stranger. You over stepped a boundary.† At first Juno is upset and annoyed about Brenda telling her off and treating her like a child. She reacts like a typical teenager, not seeing what the audience is already questioning, that spending time with Mark is inappropriate. Brenda is acting like a caring and mature parent, which contrasts with how Juno is behaving. As the movie progresses and Juno gets to know Mark better she realizes that Vanessa may be the stronger parent. From the beginning Juno shows a great interest in Mark and doesn’t pay much attention to Vanessa. When Juno sees Vanessa at the mall playing with a little kid, she realizes how great a Mother she would make. The scene shows Vanessa in a high angle wide shot running around with a young child who is completely engrossed and captivated by Vanessa’s company. We then see a close up on Juno’s face, the director uses this close up to highlight that Juno is fixated on Vanessa with an expression of awe and happiness, at the realization that Vanessa is going to make a wonderful Mother. Because of her love for children, you can see this by her interaction. Juno’s shift in judgment also affects her view on Mark as the attributes she values in a parent start to mature. Juno begins to realize that Mark may not be the ideal Father for her baby. When visiting Mark, they hang out in his room. The room is full of props such as unpacked boxes symbolizing Mark being unsettled and boxed in. Juno and Mark danced together with song lyrics in the background â€Å"all these young dudes† inferring that Mark still hasn’t grown up. While dancing we see a mid shot, Juno’s tummy is touching Mark and he comments â€Å"something’s between us†. Although there is a baby physically between them he is also suggesting there is chemistry and attraction between them. This is when Mark tells Juno he is leaving Vanessa. Juno is furious and this is a turning point in the film as Juno realizes Mark needs to grow up and is too immature to father her child. This is when Juno realizes that Vanessa is certainly going to make a better and reliable parent for her child. I learnt that through her pregnancy she becomes more mature and she begins thinking of her baby’s needs rather than her own. Juno’s relationship with Mark reflects her maturation from a naive teenager to a responsible Mother. When Juno first becomes pregnant she is looking for a fun relaxed parent. Initially she was impressed by Mark and enjoyed his company. However she was more focused on what she wanted for herself rather than the well being of her baby. As Juno spends more time with Mark we learn his strengths and weaknesses. Juno matures as a person and realizes Mark wouldn’t be responsible or grown up enough to make a stable Father. When Juno starts realizing this she starts seeing all the positive traits in Vanessa from a maternal perspective. Juno’s development as a person mirrors her physical development in her pregnancy. This is shown in the movie when Juno makes a selfless decision purely for the baby’s welfare and chooses the right parent to bring up her child, while she is in the advanced stages of her pregnancy. In conclusion Juno’s relationship with Mark changes throughout the film. Those changes reflect the reactions and influences of other characters, & Juno’s personal growth. As Juno progresses to Motherhood her opinions mature and slowly become selfless. By the end of film she realizes who she wants to see bring up her child.

Case Analysis Electronic ( E ) Version Essay - 985 Words

Assessment Summary Case Presentation Format Electronic (E) Version Identifying Information: Patient is a 49-year-old single African American male. He has a bachelor’s degree and currently working part-time. Patient currently resides in Pitt County and lives with his biological mother. Appearance (e.g. overweight, dresses appropriately, etc.): Patient’s weight appeared to be appropriate for age and height. Patient was well dressed. Patient’s grooming appeared unkempt. Client was attentive and cooperative with counselor during session. No physical stigmata. Benefits (Food Stamps/SSI/Medicaid/VA): Patient denied receiving any benefits. History of Presenting Problems: Patient reported having a chronic history of substance use and failed treatment attempts. Patient reported an extensive legal history and is currently on probation due to substance use. Patient reported that he started using heroin at the age of 25 and cocaine at the age of 30. Patient reported multiple failed treatment attempts. Patient reported two previous treatments at Walter B Jones, two previous detox attempts at PORT, and one treatment attempt with PORT OTP. He reported his last treatment attempt (OTP) was approximately 10 years ago. Family-of-Origin History: Patient reported he grew up in Pitt County. Patient reported he is currently living with his biological mother. He reported his biological father has not been present in his life. Patient reported having 4 other siblings. Medical: PatientShow MoreRelatedSecurity and Payment Issues Faced by e-commerce Business in the Hospitality Industry978 Words   |  4 Pagesviolations and cyber-attacks to e-commerce systems especially in the hospitality industry. â€Å"In 2011, Trustwave SpiderLabs conducted 42 percent more data breach investigations than in the previous year. More than 85 percent of these data breaches occurred in the food and beverage, retail and hospitality industries.† (Savitz Percoco, 2012). It seems logical that any business would understand that building a secure business is important to long term success. (Vacca, 2012). E-commerce as a catalyst hasRead MoreA Complete Financial Analysis Of Amazon.com1302 Words   |  6 Pages A Complete Financial Analysis of Amazon.com: Amazon Analysis â€Æ' Introduction Amazon.com is an online retail company formed in 1996 by Jeffrey Bezos. The company sells a multitude of products ranging from electronics to subscription services for premium members. Amazon encompasses millions of items sold through outside companies. Additionally, Amazon offers services which allow business people, such as filmmakers and singers, the rights to sell and publish their works (Amazon.com Inc CompanyRead MoreCase Scenario1211 Words   |  5 PagesCase Scenario: Big Time Toymaker Jason Andrew Ross LAW/421 January 16th, 2012 Tiffany Brady Case Scenario: Big Time Toymaker 1. At what point, if ever, did the parties have a contract? 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Rural Advertising in India - 2637 Words

RURAL ADVERTISING IN INDIA ABSTRACT Villages are integral part of the Nation. Rural markets acquired greater importance in countries like India, China, etc. because of economic growth of the nations now highly depend up on the rural economy. Corporate companies are struggling a lot to get more sales/profits in urban areas i.e. almost all the companies are saturated in urban areas. â€Å"Go rural and be rural† seems to be the guiding principle of marketing. In this context, companies are diversified all their operations toward rural areas. Most of the populations with unmet needs are living in rural areas. Companies should ensure that they understood the hopes and aspirations of the rural population. They should take into consideration the†¦show more content†¦The Indian advertising today handles both national and international projects. This is primarily because of the reason that the industry offers a host of functions to its clients that include everything from start to finish that include client se rvicing, media planning, media buying, creative conceptualization, pre and post campaign analysis, market research, marketing, branding, and public relation services. Rural consumers are fundamentally different from their urban counterparts. The lower levels of literacy and limited exposure to product and services are well-known, but there are also differences in occupation options, with a direct impact on income levels and income flows, and a high level of inter-dependency affecting the dynamics of rural community behavior. All contribute to make rural consumer behavior starkly distinct from the urban. Rural marketing has become a greatest challenge to make goods available to the rural markets because of poor infrastructure and lack of understanding of rural consumers. Only 40 per cent of the villages in India were connected by roads and only one third of rural homes had electricity. The rural market in India has great potential, which is just waiting to be tapped. Progress has been made in this area by some, but there seems to be a long way for marketers to go in order to derive and reap maximumShow MoreRelatedCottle Case1223 Words   |  5 Pages| ASSIGNMENT 2 | COTTLE-TAYLOR: EXPANDING THE ORAL CARE GROUP IN INDIA 1. a) What factors determine the demand for toothbrushes? As we read through the case we find there are various factors that influence the demand for toothbrushes which is affected by both social and economical factors. 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A similar campaign continues today, with Lifebuoy hygiene education programme ongoing in India, Bangladesh, Pakistan, Sri Lanka, Indonesia and Vietnam. Price: The price of its mass soap brand Lifebuoy was reduced from Rs13 to Rs12 on 90gm and from Rs15 to Rs14 on a 150g bar. The price of the small pack of Lifebuoy was recently cut by a rupeeRead MoreREVIEW OF LITERATURE India is a vast developing country in1600 Words   |  7 PagesREVIEW OF LITERATURE India is a vast developing country in the world and people of many different communities and religious live together in unity. Tribal study is not new to this present research world. There are many studies already done on this topic. Many scholars have paid their attention on it and contributed very much to the field of tribal studies. 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The mobile phone market in India is worth 130 million handsets annually. While the big players like Nokia, Samsung, Motorola and SonyEricsson make up for 70% share, the market has of late seen a slew of domestic firms such as Micromax, Karbonn and Entex making large inroads and new

Sonnys Blues by James Baldwin Essay - 1228 Words

Sonnys Blues by James Baldwin A captivating tale of a relationship between two troubling brothers in Harlem, Sonnys Blues is told from the perception of Sonnys brother, whose name is never mentioned. Baldwins choice of Sonnys brother as a narrator is what makes Sonnys Blues significant in terms of illustrating the relationship and emotional complications of Sonny and his brother. The significance of Sonnys Blues lies in the way Sonnys brother describes their relationship based on what he observes, hears, and feels, and how he struggles trying to understand Sonny through the course of the story. This is a story of how two African Americans brothers take their own path through life as they struggle to find meaning in their†¦show more content†¦The author used the title of the story Sonnys Blues, to give the readers the hint about the theme of the story. The noun blues is defined as a mood of unhappiness and depression. This theme is present throughout the story. Blues is a style of music that expresses a sad mood. It is synonymous with low spirits and depressed emotions. The blues, both as a state of being and as music, is basic to the structure of the story, and both the narrator and his brother Sonny have had their share of low spirits. The opposing lives of the two brothers contribute to the theme of being safe and while being risk takers. In this story, Baldwin writes about two brothers who grew up together. As each of the boys grew older, they fell apart from one another and lived two completely different lives. The narrator, who is the older brother, seemed to be more conservative and more determined to develop a good future. Sonny, the younger brother, was more free-willed and adventurous as he lived in the moment. Sonny did not even know what his plans were for the next hour, much less for the rest of his life. The narrators major source of discontent has been his selfish desire to learn and lead a respectable, safe life as a high-school algebra teacher. When he learns ofShow MoreRelatedRacism In Sonnys Blues By James Baldwin993 Words   |  4 Pagesamount of people all over the world. Although racial bias has been around for many years, it only seems to be progressing into something that one simply cannot c omprehend. In the short story â€Å"Sonny’s Blues,† the author, James Baldwin, emphasizes the lasting effect of racism throughout the story. While Baldwin vaguely expresses the impact of racial bias on the character Sonny, the audience infers the idea the author is trying to convey. In the story, racism is a significant factor of symbolism portrayedRead MoreAnalysis Of Sonnys Blues By James Baldwin956 Words   |  4 PagesJames Baldwin was born on August 2, 1924, to a single mother in Harlem. After his mother married his stepfather David Baldwin, who was a Baptist minister, he was adopted by him. Growing up, he didn’t feel as if he was accepted the way his other siblings were, though. In some of Baldwin stories, they often have a similar story line where it seems he is the less favored child over everyone else. In â€Å"Sonny’s Blues,† a similar scenario is presented in some ways. While the unnamed narrator often speaksRead More Sonnys Blues by Ja mes Baldwin Essay517 Words   |  3 PagesSonnys Blues by James Baldwin Sonnys Blues is a story about two brothers, their past, and how their differences came between them. They were apart for several years while Sonny was in jail, but once he got out they had a chance to mend their pasts. Sonnys Blues is a well written story that teaches a lesson that has value in every day life. The tone is melancholy and reminiscent. The brother is remembering the past and reflection on the mistakes he and Sonny made. He is sad over theirRead MoreRacism In Sonnys Blues By James Baldwin935 Words   |  4 Pagesare dealing with all over the world. Racial bias has been around for quite sometime now, and it only seems to be progressing into something that one simply cannot comprehend. In the short story â€Å"Sonny’s Blues,† the author, James Baldwin, emphasizes on the lasting effect of racism throughout the story. Baldwin vaguely expresses the impact of racial bias on the character Sonny. The audience has to infer the reasoning behind what the author is trying to convey. In the story, racism is a significant factorRead MoreAnalysis Of Sonnys Blues By James Baldwin1139 Words   |  5 PagesKelly J. Warner Professor Carol Wittig EN 234 – Introduction to Fiction 31 August 2017 A Second Chance The story â€Å"Sonny’s Blues† by James Baldwin hits home to my own personal life. In the story, a man learns that his brother is in jail and he is hooked on drugs. 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Sonny, the narrator’s brother, struggles with his identity and ability to feel emotion leading him to the world of music and drugs, â€Å"To be aware of oneself, Baldwin believes , is to feel a sense of loss, to know where we are andRead MoreEssay on Sonnys Blues by James Baldwin1316 Words   |  6 Pagesâ€Å"Sonny’s Blues† revolves around the narrator as he learns who his drug-hooked, piano-playing baby brother, Sonny, really is. The author, James Baldwin, paints views on racism, misery and art and suffering in this story. His written canvas portrays a dark and continual scene pertaining to each topic. As the story unfolds, similarities in each generation can be observed. The two African American brothers share a life similar to that of their father and his brother. 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Both characters isolate themselves with several instances of music and issue their reactions toward it. Sonny is an uprising musician that wants to portray his life by playing the piano. This story is about Sonny’s Blues. His sadnessRead MoreEssay about Sonnys Blues by James Baldwin1003 Words   |  5 Pages There are many things we learn of Sonny and his nameless brother in Sonnys Blues. We learn their mannerisms, hobbies, occupations, and even their addictions. It seems we learn nearly everything about the pair; minus the narrators name, as previously stated. Hearing of their histories and the pains theyve under gone, we see how they deal with their pain, which often truly tells character. Sonnys Blues isnt a story of two brothers living in a rough city; one of whom is a talented musician

Auditing Theory and Practice for Second Report-myassignmenthelp

Question: Write about theAuditing Theory and Practice for Second Report. Answer: To: Managing Partner of MYH Subject: A Report on Strength of any Negligence Case that Oasis might bring against MYH Main Body: Influences of Common Law on Negligence Issues: There are four general stages of audit-related dispute. The first stage includes the occurrence of events that results in losses for users of the financial statement like misappropriation of assets, fraudulent financial reporting. The second stage, this involves investigation by plaintiffs and their attorneys before doing any legal proceedings. The third stage includes the legal process. The last stage is related to the resolution of dispute (Wilson, 2014). Under common law, the auditor is held liable for the negligence, breach of contract and fraud. The elements necessary for making an auditors liability for negligence to clients are the duty to cope up with a required standard of care, failure to perform as per that duty, a casual connection between auditors negligence and clients damage and actual damage to the client. The three standards that have evolved for defining the extent of the auditors liability to third parties are privity, foreseen persons and reasonably foreseeable third parties. Privity means obligations between parties that exist under a contract. Auditors liability to third parties under common law is complex, because court rulings are not always consistent across federal and state jurisdictions (American Accounting Association, 2016; Gay and Simnett, 2015). Contributory negligence is used by the auditor as a defense in legal liability, when he or she claims the client a responsibility in the legal case. For example, the auditor claims that the client contributed to the fraud by not correcting the material mistake (Robertson and Tilbury, 2016). Any third person, who makes any purchase based on the information in the financial statement, then the third person can sue the auditor for the wrong information given in financial statements. In this case Morgan fertilizers supplied the financial statements to Oasis and there is no evidence that MYH is aware of this intended use of the accounts. So this works as an advantage for MYH in the negligence case. There are some steps at the firm level that can minimize the legal liability against the auditors like, being alert for risk factors that may result in lawsuits, performing and documenting work diligently, following sound client acceptance and retention procedures, ensuring that members of the firm are independent, instituting sound quality control and review procedures (BLINK, 2017). The auditors legal liability to client can arise from the failure of auditor to fulfill the terms of contract. An example would be if the client identifies any misstatement in the financial statements, which would have been discovered if the auditor had not properly analyzed all the financial accounts (e.g. misstatement of inventory arises only if the inventory is not properly checked by t he auditor). Case Law: Esanda Finance Corporation Ltd v Peat Marwick Hungerfords (1997) 188 CLR 241 (HCA) The auditors liability to third party under the common law arises from any loss incurred to third party due to relying upon the misleading financial statements. Civil liability under the securities act, 1933 provides the right to the third party to sue the auditor for damages done to him due to any untrue statement of material. For example if any stock is purchased by an investor on the basis of audited financial statements and later on if the investor finds the misstatement in the financial statements, then for the loss done to him he can sue the auditor (Mintz, 2016). If the company will say that it does not have any evidence of the misleading that happens in the inventory, then it clearly shows the negligence of the auditors and the management of the company both. Conclusion From the analysis of above report, it can be said that during the audit process, the influences of common law on negligence issues plays an important role. It will help the company, if Oasis files any negligence case against it. Auditor is expected to conduct an audit using due care, but does not claim to be a guarantor or insurer of financial statements. References BLINK (2017). Making Ethical Decisions: A 7-Step Path. Retrieved from: https://blink.ucsd.edu/finance/accountability/ethics/path.html Gay, G. E. and Simnett, R. (2015). Auditing and assurance services in Australia (6th ed.). Roseville: McGraw. Mintz, S. (2016). Ethical Obligations and Decision-Making in Accounting: Text and Cases. Robertson, A. and Tilbury, M. (2016). The Common Law of Obligations: Divergence and Unity. USA: Bloomsbury Publishing. Wilson, R.M.S. (2014). The Routledge Companion to Accounting Education. USA: Routledge.

Interest-Free Banking and Islamic Banking in Nigeria free essay sample

Interest-free Banking and Islamic Banking in Nigeria By: Salim Salihu Muhammed Nigeria’s quest for a virile banking reform had led to the adoption of several policies and strategies that would truly give the nation’s economy an edge towards growth and sustainability. No doubt, the bail outs of â€Å"failed banks† and the acquisition of toxic assets from bad banks’ books did saved the economy and Nigerians to a large extent from such kind of economic blows suffered in the Scandinavian banking crises.Without minding words as a follow up to an earlier publication, Zero Interest Banking in Nigeria: Identifying a Sustainable Module, I still emphasis on the identification of an achievable element for an Interest-free Banking System as well as supporting it to its plausible fullest, rather than introducing religious sentiments or interest that could harm the Nigerian financial sector. Less I forget in a hurry, do the Nigeria’s economic policy fault finders understand what Interest-free Banking entails? It is true that the Central Bank of Nigeria (CBN) had emphasized on its readiness to establish or give licence to banks wishing to operate Interest-free Banking system (which is popularly known by many as Islamic Banking because of its tandem with Islamic jurisdictions and beliefs that prevent dealings in interest (Riba) or usury). We will write a custom essay sample on Interest-Free Banking and Islamic Banking in Nigeria or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It is also true that the Apex Bank has the jurisdiction, as provided in its Act to allow such financial or banking practice; but what should not be seen as true is the perceivers’ believe that the CBN’s policy was meant to enforce Islam or Shari’ah on Nigerians or construed as a personal agenda of the Apex Bank’s Chief. For the avoidance of doubts, as it were with conventional commercial banks, Interest-free banking system has its inherent pros and cons which affects the Muslims and non-Muslims alike.A first glance of how Interest-free banking system operates could set a pace of reasonable understanding to its fault finders. The bank is operated by, and has Muslims and non-Muslims customers; its lending principle is based on the belief that the provider of capital and the user of capital should equally share the risk of business ventures. Translated into banking terms, the depositor, the bank and the borrower should all share the risks and the rewards of f inancing business ventures.However, Nigeria as well as any other country wishing to practice Interest-free banking system may design a module that fit its economy, so far that its applications does not go contrary to the Islamic jurisdictions of Riba or interest, the use of money and capital; and also, identify the key challenges facing the model such as the dearth of knowledge, skills and technical capacity to regulate, supervise, or operate non interest banks. Also, higher quality personnel with experience in project management and Islamic jurisprudence are required for financing and marketing activities.Interestingly, the flexible nature of Islamic finance provides enormous opportunities; it has positive and far-reaching impact for the Nigerian economy. The interest-free banking principle in Islam allows only one kind of loan and that is qard-el-hassan (literally good loan) whereby the lender does not charge any interest or additional amount over the money lent. In conventional terms, it means a bank will not change interest on loan or stipulate a certain amount to be paid back together with the loan given. What is more?The lender (the bank) also shares in the profits or losses arising out of the enterprise for which the money was lent. Islam encourages the economy of wealth redistribution; customers (Depositors) are thus encouraged to invest their money and to become partners in order to share profits and risks in the business instead o f becoming creditors. This is unlike the interest-based commercial banking system, where all the pressure is on the borrower: he must pay back his loan, with the agreed interest, regardless of the success or failure of his venture. The present day multi-rich Nigerians can hoard money, thereby limiting or eliminating the purchasing power of money. This practice have negatively marred the efforts at keeping inflation at bay, as this idle money are not utilized in economic events that could improve the country’s Gross Domestic Product (GDP) over time. Under the Islamic Banking system, human effort, initiative, and risk involved in a productive venture are more important than the money used to finance it. Customers are encouraged to purchase and are discouraged from keeping money idle so that, for instance, hoarding money is regarded as being unacceptable.This purchasing power (money) cannot be used to make more purchasing power (money) without undergoing the intermediate step of it being used for the purchase of goods and services. Although the system encourages customer to purchase, it also prohibits or discourage investment in practices and products that are considered forbidden. The Apex Bank could make policies for the financial system and operators, as much as it is provided by enabling laws, the country’s Constitution, the Bank and Other Financial Institutions Act (BOFIA) and other relevant financial laws. We must understand that the country’s Assembly need not pass a bill for the proposed banking system (Interest-free banking), which is a product of CBN, to take effect if the listed legal provisions and other careful indices are put in place to make the system meet the economic objective for which it is meant for. All that is needed is a careful and extensive capacity building through collaboration among various stakeholders to develop cognate expertise in non-interest banking, development of an adequate regulatory and supervisory framework for the effective operation of non-interest banking in Nigeria.As it stands, it is fair to say that Interest-free banking system and Islamic banking system refers to the same policy as they operates in line to the provisions and jurisdictions of the Islamic Shari’ah system; nevertheless, it does not connotes a means of enthroning control over the sovereignty of Nigeria but a mere banking policy aimed at salvaging the country’s financial system as seen to be practiced in the United Kingdom, America and parts of Europe. In many countries where series of financial crisis had led to the implementation of monetary and financial policies, the adoption of an Interest-free regime was considered.London is the leading Islamic banking centre in the West, HSBC, Lloyds TSB, and Citigroup have opened Islamic banking units and branches throughout England. Middle Eastern Islamic banks have also set up shop in the United Kingdom (UK). These banks also targeted non-Muslims with the message that their services are ethically superior to those of the West, pushing the idea that interest – and capitalism – is unethical and should be replaced in Europe by the Islamic financial model; patronage by non-Muslims have received a continuous increase in the UK. Wasn’t England the birthplace of the Industrial Revolution and creator of the common law, the most successful and equitable legal system in history? One thing I must emphasis here is, any bank, be it Islamic or conventional, risks running losses if it does not charge some form of interest; Islamic banks circumvent this danger by extending a type of Islamic â€Å"credit† that shifts risk to the borrower in a manner similar to interest. In the UK Islamic Banking model, the banks’ Shari’ah boards legitimate the charges by renaming them â€Å"commissions† or â€Å"profits. Some of us could be wondering why Islamic banks could remain profitable – or ideologically influential – if they complied with the Qur’anic injunction again interest. An Islamic bank is no different. It must partake in the money creation business. And it must therefore fix its financial rate of return at the outset in most of its business. Thats why Islamic bank ing cannot succeed in being Islamic, at least, not in the way that we understand the terms â€Å"banking† and â€Å"Islamic† today. Islamic finance is not a product to be offered to a niche market. It is a system. It must be promoted and implemented as a system as did the UK. Nigeria could buy from the West, especially with the United States’ strategy in understanding the system and how US Deputy Secretary of the Treasury Robert M. Kimmitt showed the world that the U. S. was interested in learning more about Islamic finance through holding an Islamic Finance 101 course in Washington to educate government officials on its ins and outs. Whatever the system that the Apex Bank deems fit to aid in strengthening the banking reforms, it is left for the customers and Nigerians to decide on which financial product to explore. As it stands today with Nigeria’s conventional banks increasing minimum cash balance in savings (deposit) accounts to N25,000. 00 and thereabout, the Islamic Banking could be a succour towards Sustaining Competition in Banking Reforms for a surviving economy whose average citizens earns far less than N18. 000. 00 per month. Salim Salihu Muhammed [emailprotected] com