Factories, on the other hand, make notable losses through this inefficient, insecure and opaque means of disbursement. The Sarathi project promotes wage digitization which improves the financial inclusion of RMG workers while benefitting RMG factories through decreased payroll processing costs, less lost worker production time and enhanced security.
Edit locations invalid District Dhaka. Project duration. Donate for this project. The project The Sarathi project aims at bringing Ready-Made Garment RMG workers within the sphere of formal banking services and improve their financial health. To this end, the project will conduct the following activities: Component 1: Improving the financial health of RMG workers Create digitized financial access points in the RMG communities in partnership with formal financial institutions.
Support formal financial institutions in introducing and scaling up their micro loan, savings and insurance products for RMG workers and their community members. Partner with technology companies and international brands to create access and promote good quality and affordable smart phones and tablets in the RMG communities to enable digitized financial transaction by RMG workers and their community members.
Component 2: Up-skilling female RMG workers Facilitate skills upgradation training and apprenticeship of 1, female RMG workers in partnership with the Bangladesh Knitwear Manufacturers and Exporters Association and international fashion brands. Facilitate access to entrepreneurship training, incubation services and loans of potential female entrepreneurs. Results Phase 1 - 76, RMG worker salary accounts have been opened through four partner commercial banks. The project has organized literacy sessions for 17, RMG workers.
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Management flags are also used to supplement the monitoring of exposures. Management flags are trigger levels for discussion around risks that are not of an immediate or certain nature but may warrant further discussion between RMG and the business. Interest Rate Risk in the Banking Book IRRBB is the risk of loss in earnings or in the economic value of banking book items as a consequence of movements in interest rates.
Some residual interest rate risks are unavoidable as a result of underlying business activity. The risk of failure to manage internal processes, people, systems, data, records, models, suppliers or external events. RMG Operational Risk and Governance is responsible for the establishment and oversight of key enterprise wide risk management framework elements and the Operational Risk Management Framework ORMF , for the identification, assessment and management of the risks arising from failures of people, processes, systems and external events.
The three key objectives of the ORMF are:. The business is responsible for the management of operational risk and implementation of the ORMF in their Groups. The risk of accidental or intentional unauthorised use, modification, disclosure or destruction of information resources, which compromises their confidentiality, integrity or availability in a way that significantly impacts the operations of a Macquarie business. Macquarie has a dedicated, centralised team responsible for monitoring, detecting and responding to cyber risk events.
Dedicated specialist teams provide expertise to the broader business and technology, perform security reviews, design and implement protection controls to prevent cyber events from occurring and minimise the impact of a cyber and information security incident.
Regulatory and compliance risk. The business is responsible for the regulatory and compliance risks arising from their business activities, and for having adequate systems, processes and controls to manage these risks. As a diverse global financial services company, Macquarie is regulated and supervised by a significant number of regulators globally. Macquarie seeks to foster and maintain strong working relationships with our regulators. RMG Regulatory Affairs develops the framework to ensure Macquarie has a consistent approach to managing regulatory engagements globally and providing oversight for these, collaborating closely with teams across RMG and Macquarie.
Management of regulatory and compliance risk is supported by RMG Compliance who establish policies and provide advice, review and challenge of certain risks. In managing reputation risk, we consider damage to our reputation from the perspective of our clients, shareholders, regulators, staff or the communities and markets in which we operate. Macquarie recognises that all activities have elements of reputation risk embedded in them.
Managing reputation risk is an essential role of senior management as it has the potential to impact earnings and access to funding and capital. Macquarie seeks to manage and minimise reputation risk through its overall corporate governance structure and risk management framework. Company policies, procedures and practices aim to minimise reputation risk. Regular reporting to the Group Risk and Compliance Committee, Boards and Board Committees includes relevant details on reputation risk issues.
The business is responsible for regularly reassessing their business strategy and the return for risk arising from their strategy. The risk of failure to comply with applicable tax laws, regulations or rulings, or failure to meet other Revenue Authority requirements or expectations. FMG Tax oversee and monitor tax risk of all entities within the Macquarie Group, and have a robust tax risk management framework and an experienced global tax team.
External tax advisors are engaged, with the approval of the Head of Tax, as part of managing the tax risk profile. Work health and safety risk. Macquarie recognises, supports, and promotes the right of every worker to return home safely from their workplace. To protect this key right, we are committed to build and promote safe workplaces which enable and empower people to do their best work. To achieve this, we build and maintain a positive safety culture and manage our Work Health and Safety WHS risks effectively.
The business owns WHS risk arising from their activities. RMG Behavioural Risk are responsible for the assessment, challenge and advice on the effective identification, evaluation and management of WHS risk. WHS risk is governed by the WHS Policy and associated standards, procedures and processes which provide detailed requirements for businesses to ensure consistent and effective management of WHS risk. Environmental, Social and Governance. Menu Impact Impact We create positive social impact by empowering people to innovate and invest for a better future.
Perspectives Our diverse team of experts share their latest thinking. About We are a global financial services organisation with Australian heritage, operating in 33 markets. Investors We offer our investors a track record of unbroken profitability. Visit our investor centre Results and presentations Dividends Debt investors Reports Other securities Regulatory disclosures.
Careers We believe in a workplace where every person is valued for their uniqueness and where different views and ideas are embraced. Company Risk management. Our approach to risk management is based on stable and robust core risk management principles. Core risk management principles. Requirement for an independent sign-off by RMG Macquarie places significant importance on having a strong, independent Risk Management Group RMG charged with signing off all material risk acceptance decisions.
The risk owner is the first line of defence. Additional information on the risk management framework. Disclosures View page. Risk culture and conduct risk management. Learn more. Aggregate risk. Asset risk. Conduct risk. Credit risk. Credit risk is considered across the following dimensions: Single counterparty risk - Risk of an obligor failing to complete its contractual obligations when they fall due Portfolio concentration risk - Risk of concentrations to a group of particular obligors with similar risk characteristics Country risk - means the economic, political, and business environment conditions within a jurisdiction that could cause Macquarie to suffer financial loss Across these dimensions, credit risk is assessed for different exposure types, including committed, contingent and settlement risk.
Equity risk. The risk of a change in value of a Macquarie equity investment. Financial crime risk. Legal risk. Legal and Governance is responsible for oversight of legal risk for the Group. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style.
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