The project about compere between two local bank in United Arab Emirates. <br /> Abu Dhabi Islamic bank and Abu Dhabi Commercial Bank.<br /> <br /> Day 1 / Task 1: Internet research and mini-report on financial Products<br /> CLO 2- Describe, analyze and evaluate the personal finance products available from banks and other financial organizations, both local and international, and how these best match various financial needs and goals related to saving, investing, borrowing; protecting against risk and planning for retirement. Discuss Ethical financing in the areas of spending, savings, borrowing and investments. <br /> Find information on the internet for the following banking products, and compare and contrast the products of at least two banks, one Islamic bank and one Western bank. Present TLDs as and when necessary.<br /> • Current account and savings account, short term and long term savings<br /> • Checkbooks and ATM Cards<br /> • Debit and Credit Cards<br /> • Personal loans<br /> • Auto loans<br /> • Home loans<br /> <br /> Day 2 / Task 2:<br /> <br /> Using the information of the bank of your choice, make a financial plan for your family for the following scenario. You will need to estimate these costs, explain how you are going to cover these expenses. Ignore inflation, express all your estimates in today’s prices. You also need to predict your family income. You have to rely on the monthly salaries of your family, but you also may think about setting up private business and generate income through your own ventures.<br /> <br /> • You plan to marry in 6 months’ time, and you need to pay for the wedding reception and for the honeymoon. <br /> • You need to buy a new home for the new family.<br /> • You need to buy a car for yourself, and for your wife. You need to replace these cars in every 6 years. You will need to buy cars for your children as well when they will enter university.<br /> • You need to complete your Master’s degree at a private University.<br /> • You want to go for a month vacation every year.<br /> • You expect to have four children to be born in Year 2, 4, 6 and 8 of your marriage. They all will go to private nursery or schools and private university. <br /> • You have good qualifications, and you get promotion regularly. Your income will increase. You need to cover your monthly living expenses, and you will need to have a savings plan.<br /> • Your wife decides to start working when the children will be older than 3 years. She has a Bachelor’s degree and she also gets some promotion over the years.<br /> • You plan to retire at the age of 60, and you expect to live another 25 years. You get some pension, but you also have more travel plans. You plan to spend at least 3 months abroad with your wife. You plan to drive until the age of 70, then you do not need more cars