Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
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Production Cuts
The intentional reduction in the quantity of goods or services produced by a business or industry, often to address oversupply or market imbalances.
Customer-Centric Technology
Utilizing technological solutions that enhance and support a customer-focused approach.
Regulatory Technology (Regtech)
The use of technology to help businesses comply with financial regulations efficiently.
Customer-Centric Employee Recognition
Recognizing and rewarding employees for their contributions to enhancing the customer experience.
Submit Initial Incident Report
The action of providing the initial report on the discovered incident to the relevant parties, typically within a specified timeframe.
Incident Report
An official document or record detailing an incident, including its nature, impact, and any initial actions taken.
Report of the Activities Made on Budget Approval
Report of budgetary reclassifications made on budget items for the government body after approval of the Ministry of Finance.
Tax Installment
Tax payment in installments is made in cases where the taxpayer faces difficulties in paying the amounts due in full. Payment is made according to the installment plan approved by the Zakat, Tax and Customs Authority after the advance payment is made.
Narrowed
Reduction in the width, scope, or range of something, often used to describe a decrease in differences or variations.
Reducing Reliance
The process of diversifying resources or sectors to achieve economic stability and reduce risks.
Restriction of Goods
A legal requirement by law for the submission and approval of an application or other document (other than for Customs purposes) as a prior condition to importation or exportation.
Credit Risk Assessment
The process of quantifying the potential credit risk associated with a borrower or investment. It includes analyzing financial data, credit history, and other relevant factors to determine creditworthiness.
Integration of Customer-Centric Technology
Integrating technological solutions to enhance customer interactions and service delivery.
Cost of Sold Goods
The direct costs of producing goods sold by a business, including materials and labor.
Net Tax Assessment
The estimation of a Taxable Person’s Net Tax due is made either by a Taxable Person upon submitting the Tax Return or by the Zakat, Tax, and Customs Authority in any other circumstances.
Risk Assessment
The process of quantifying various risks, including credit risk, to make informed decisions about lending, investments, and financial transactions.
Beneficiary Acquisition Cost
A key metric that represents the average cost an entity incurs to acquire a new beneficiary. It is calculated by dividing the total costs associated with acquiring beneficiaries by the number of new beneficiaries gained during a specific period.
Economic Composition
The general framework that defines the nature and organization of the national economy, and includes the set of elements and components that make it up, such as the main economic sectors, sub-industries, and the distribution of GDP among these sectors.
Economic Empowerment
Increasing individuals’ or communities’ ability to participate in and benefit from economic activities.
Alternative Funding
Non-traditional methods of raising capital or financing, such as crowdfunding, venture capital, and private equity.
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