Welcome to the 1520 Perfect Dictionary

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People's bank
PEOPLE’S BANK

Definition: (informal) A commercial institution established for the singular purpose of providing financial help to the very poor – the ordinary men and women - of a country.
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* All eighteen elements should be in.


1. Purposeful and necessary – a better life for the ordinary people.

2. Owned or will be owned eventually by the poor – whoever founded it.

3. Professionally managed or run. That is, qualified and vetted officers/officials, working effectively and efficiently, while observing all banking ethics – terms and conditions of service of staff, excellent organization etc.
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See perfect BANKING.
Below the Line
1. No interest is charged on loans that it gives out, not under any guise! (Lending rate is 0 %.)

2. Facilities (loans) are strictly monitored to ensure that they are used for purpose(s) for which they were given and subsequently paid back or liquidated as and when due.

3. No dividends are paid out at the end of its business or financial year (connect to #2 above the line).
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4. Should have a well established branch network, properly located, especially in densely populated areas.

5. Demands the minimum collateral to secure or be granted a required facility.

6. Secured and adequately protected – by guards, dogs, CCTVs etc. at all times.
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7. Pays a competitive rate of interest.

8. Does not give a ‘pay-off’ to its retiring or sacked executives – no matter their ‘performances’ or the profit made by the organization. No ‘golden parachute’ or ‘handshake’!

9. Does not issue credit cards to its customers.
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See perfect BEGGAR (1).


further below the line


1. Legally established and properly and constantly regulated by the law and/or the relevant agency or agencies of government.

2. Modern in its facilities and operations and providing all modern banking services – foreign exchange, mortgage, accounts (savings, current, fixed-term deposits, etc), advisory and depository services etc.
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See perfect AUTOMATIC TELLER MACHINE.


much further below the line (1)


1. Accessible to and/or patronized by only the truly poor – the ‘nobodies’, ‘orphans’ etc.

2. Charges on service(s) rendered are usually the minimum in the industry (connect to #1 below the line).

3. Its deposits are fully guaranteed by the government.
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See perfect CHOOSER.


much further below the line (2)


1. Achieves objective(s) or serves purpose(s).
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See perfect POSSIBILITIES.

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