Online workshop on Importance of Third Party Products to Banks Income Statement

The online workshop on “Importance of Third Party Products to Banks’ Income Statement”, held on 16th May, 2020 was conducted on the online platform ‘Google Meet’. It was an event over just  1 hour session which gave the 3rd year students and staffs of Accounting Department, Catholic University In Erbil (CUE) an insight into the role played by the third party products into the Income statements of Banking Systems. The workshop began with the motivational words from Mr. Shahnawaz Ali, Head of the Accounting Department who then officially commemorated the event.

The foundation of the online workshop was established by the esteemed speaker of the day, Mr. Chiranjeev Bamadi, Accounts Director at L&T Finance Holdings, DIFC, Dubai.

Mr. Chiranjeev Bamadi briefed about the working model of Banking System, and its role as the backbone of financial system of a country. He also spoke about how the banks today are not only dependent on interest income, rather their third party product income constitutes the major chunk of the Bank’s Income Statement. The session was concluded with questions and answers from the students and faculty members of CUE, to all the inquisitive queries from the side of the students, our guest speaker presented intriguing answers. The outcome of this workshop could be judged from the pleased responses from the attendees at the end of the session. Overall, it was a very successful event, especially at a time when the world is fighting its battle with the COVID-19 pandemic, technology has made it possible to continue our normal routine work, even if major cities around the world is under lockdown.