The Green Sheet Online Edition
December 10, 2007 • Issue 07:12:01
Most people want a bank that's universal, and Tari Bunia Bank caters to all of its customers' needs. Located on the remote South Pacific Island of Pentecost, the 14 branches are known for traditional banking business and the not so traditional.
Tari Bunia has what most banks offer - checking accounts, loans and mortgages. But
what sets it apart from other banks is the accommodations implemented for tribesmen wishing to make a deposit of tusks, woven mats, shells, giant rocks and other items at bartered rates.
For centuries, Pacific Islanders have used these items for trading and ceremonial purposes. According to Chief Viralo Boborenvanua, manager of Tari Bunia, the goal of the bank is to make sure there is no poverty in the communities. By taking items produced from the local land and sea, the townspeople can continue to thrive.
Bankers weigh the items and credit the amount to tribesmen's accounts. Behind vault doors, thousands of pig tusks hang from the halls. Robberies are scarce because thieves are afraid of the "spirits and snakes" lurking around the loot. How's that for a security system?
#h4 Biz Bytes
Volume game is when acquirers make a very small profit on each transaction they acquire; therefore, they need to acquire many transactions to make a profit.
Zero sum game means acquirers compete on scale because they offer an increasingly commoditized product to an increasingly mature and closed market. ATM machines and POS terminals, for example, have become commoditized.
#h4 ISQ-Q test
Which of these statements is true?
1. Payment Card Industry Data Security Standard compliance is only an option for merchants and third party service providers, but required for all other organizations.
2. ISO stands for Internet sales opportunity.
3. The Public Company Accounting Reform and Investor Protection Act of 2002 is also known as the Sarbanes-Oxley Act of 2002.
'm not saying the customer service in my bank is bad, but when I went in the other day and asked the clerk to check my balance, she leaned over and pushed me.
#h4 Loopy laws
When preparing your holiday menus, chew on this: In North Dakota, it's illegal for bars and restaurants to serve beer and pretzels together.
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