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After announcing the recapitalisation measures in October 2008, the UK Government purchased an initial tranche of RBS shares in December 2008 totalling £20 billion; it then converted preference shares into ordinary shares in April 2009 and purchased a final tranche of shares in December 2009, taking the final total to £45.5 billion.
The bank is introducing Visa Debit cards with the technology for current accounts, which can be used to pay for purchases up to £30 by tapping an enabled card on the retailer's terminal. [54] In an effort to enhance security, Royal Bank of Scotland and NatWest introduced hand-held devices in 2007 for use with a card to authorise online banking ...
Workforce nationalization is a government initiative that can be described as the recruitment and employee development to encourage or often require the employment of native-born population in certain jobs or industry sectors, thus reducing a country‘s dependency on an expatriate workforce. [1]
Saudization (Arabic: السعودة), [1] officially the Saudi nationalization scheme and also known as Nitaqat (Arabic: النطاقات), is a policy that is implemented in the Kingdom of Saudi Arabia by the Ministry of Labor and Social Development, which requires companies and enterprises to fill their workforce with Saudi nationals up to certain levels.
NatWest Group PLC [1] is a British banking and insurance holding company, based in Edinburgh, Scotland.. The group operates a wide variety of banking brands offering personal and business banking, private banking, investment banking, insurance and corporate finance.
The Emergency Cash service gives access to cash without a debit card from NatWest, RBS and Ulster Bank cash machines. [ 84 ] NatWest is a member of the Cheque and Credit Clearing Company , Bankers' Automated Clearing Services , the Clearing House Automated Payment System and the LINK Interchange Network.
Nationalization may produce other effects, such as reducing competition in the marketplace, which in turn reduces incentives to innovation and maintains high prices. In the short run, nationalization can provide a larger revenue stream for government but may cause that industry to falter depending on the motivations of the nationalizing party.
Allied Bank, still operating with practices from its nationalization era, struggled with inefficiency and poor credit practices, unlike the employees of Exxon who were well-versed in private-sector operations. [3] While MCB Bank showed improvement after privatization, Allied Bank continued to face financial difficulties. [3]