the performance of Dubai Islamic Bank

the performance of Dubai Islamic Bank Dubai Islamic bank is a bank that offers services related to Islamic sharia. In the year 2009 the total revenue gained by the bank was 5,133 (million AED) as compared to the report of FY 2008 the net revenue had decreased by 2.6%, and the total profit earned by the bank was 1,207.49 (million AED) a net decrease of 22.31% as compared to the FY 2008, with the total assets of AED 90.14 billion in the year 2010, the bank stands among one of the largest Islamic banks in the world, currently the bank has a customer base of 1.2 billion which is quite appraisable customer base when compared with other banks. The share price of DIB is computed to 2.22 AED (per share) updated latest to 31st march, 2011, the net value of the market cap is evaluated to 8,429 (million AED), the enterprise value is evaluated to 7,450 (million AED), and the net shares outstanding is evaluated to 3,797 (million AED). The net capital base of Dubai Islamic bank counts up to AED 10.53 billion as of December 2010, which is 17.2% higher than the previous year? B. Strategic posture 1. Mission the Dubai Islamic bank is currently providing services like retail banking, private banking, johara banking, corporate banking, mobile banking, phone banking, online banking, sharia board services, structure trade finance, treasury and investment, project financing, syndication services, wealth management services, business banking, investment banking, contracting finance services, and real estate finance. The DIB is incorporated in all these services because they want to expand their scope in terms of banking and investment services in almost every field, so as to compete with other players in the business. 2. Objectives The companys main objective is to setup its market all across the world and to expand them as much as possible, and to increase its customer base so as to increase their revenues and popularity in the global market. 3. Strategies The main objective of DIB is to diversify and manage organic growth, as growth in any sector is a must for a company especially a banking corporation where the opportunities are endless for any corporation DIB is focusing majorly on the diversifying of its business, and this strategy is very much consistent with the missions that is stated by the bank. The other strategies of DIB includes expansion of its branches and the increase in its overall customer base, this strategy of DIB helps DIB to expand its trade in other countries of the world too. The increase in overall customer base is an obvious strategy of any banking corporation as the profit and revenues earned by any banking firm is dependent on the issue that more the customers the bank has the more is its profit earned. 4. Policies The major policies of DIB includes conversions of key Islamic economic policies into firm practices for the need of mankind and to welfare them with the Islamic policies, the policies of the DIB is consistent with the mission, objectives and strategies of the corporation as the end user of any firm is the consumer itself, and if the consumer is not happy with the companys policies and services then every strategy of that company is vain, and also the companys policies are consistent with every external and internal environmental features. The companys major strategy includes the expansion of branches and the addition of new customers to the companys customer base; these policies reflect the companys international and global trading strategy. 2. Corporate governance A. The board of governance The board of governance of the corporation consists of H.E. Mohammad Ibrahim abdulrahman alshaibani as the chairman, H.E. Sheikh Khalid bin zayed al nehayan as the vice chairman, ahmad Mohammad saeed bin humaidan as the director, saeed Mubarak Abdulla Mohammad al muhairi as the director, abdulrahman hareb Rashed alhareb as the director, tariq humaid matar mohammad al tayer as the director. They all are the external employees of the corporation i.e. they are non-executive members of the corporation i.e. they dont take part in any decision making processes of the corporation. This group of executives consists of the top management of the company. The internal or the senior management members of the coporation consist mainly of Abdulla ali al hamli as the chief executive officer, ahmed fathy al-gebali as the chief financial officer of the corporation. These persons are the part of the senior management i.e. they have influence in all the decisions making and strategy making discussions and processes. These executives comprise of the internal management or the senior management of the company and involved in major decision making processes of the corporation. All the internal and the external members of the corporation that is discussed above especially the non-executive members hold significant part in the stocks. The stocks are publically held by some of the major acquisitions are held by many other peoples and companies, also the stock is traded in the market, with some of the board members acquiring major shares of the corporation. Some board members are the permanent board members of the corporation and they are in the non-executive group of the corporation and thereby they are the permanent members of the company, but the senior management members are not-permanent members of the corporation, the chief financial officer of the corporation is the newest member on the board of directors as he had joined the company in the year 2011 itself. The top management consists of chairman itself and the other directors of the company, though the non-executive members dont take part in some decisions but in major decisions like acquisitions and budget related discussions their involvement is must. B. Top management The top management of the company comprise of H.E. mohammad Ibrahim as the chairman, H.E. sheikh khaled bin zayed al nehayan as the vice chairman, ahmed mohammad saeed bin humaidan as the director, saeed Mubarak Abdulla Mohammad al muhairi as the director, abdulrahman hareb Rashed alhareb as the director, they all are part of the non-executive board. But the major part in the decision making policies are taken by the senior management group or the top management group i.e. the CEO and the CFO of the corporation. The board members of the corporation have a significant knowledge of the international market and of market policies and as the key peoples are experienced enough therefore they contribute a significant amount of knowledge to the corporation and thereby taking the corporation to the next level. The companys senior management is highly skilled and are capable of taking the company to a new height, the CFO for ex. had joined the corporation in the year 2011 itself, the CFOs profile shows that he has a very good managerial base, he had worked for boubyan bank as a CFO and various other investment houses, thereby he had gained enough experience and he had served for many companies therefore his skills must be remarkable. The companys senior management had developed a systematic strategy to be implied, some of them are global acquisitions and expansion of business. The companys senior management interacts with the lower level managers and the board of directors quite frequently as they are keen to make new strategies and decisions for the company and they believe in including everyone in the process of decision making. The companys decisions are quite ethical as the companys main motive is to use the teaching of Islam for the welfare of mankind in economic terms. The top management is highly skilled and is expected to survive the company in future and to cope up with any problem affecting the corporation. 3. External environment: opportunities and threats A. natural physical environment Apart from banking the bank is also engaged in products and services like textile products, aluminum fixtures, motor vehicles. Products like Aluminum fixtures and textiles depend on the sustainability of the environment i.e. textiles are made from cotton and other natural products and aluminum are obtained through mining therefore the climate of the place plays a very important role in the development of products of DIB. Apart from the climate one more natural force that affects the manufacturing of DIBs products is availability of water in adequate quantity, and natural disasters. The opportunities for DIB in these sectors are limitless but the only thing that matters is that how they could implement their strategies into their products and services. All these forces have different affects in different countries of the world for ex. climatic and weather conditions are different in different countries of world, for ex. in Africa and Asia where climate are suitable for the growth of cotton and jute products, moreover natural disasters and calamities also depends on the location of the manufacturing plants of DIB for ex. in countries like Japan, and Hawaii where earthquake and volcanoes are frequent. Solar winds and sun spots also affect the crop as it destroys the crop. B. societal environment The major factors that are affecting the product manufacturing are economical forces, technological forces, political forces, and socio-cultural forces. The economic forces are the force that defines a corporations power in the market in terms of revenues and share price, therefore economic forces are also very important forces that influence the manufacturing of products and services. The technological forces are also one of the most important forces which affect a companys manufacturing of products and other technological processes. The other forces that affects a companys manufacturing of products and services are political forces, these are the forces which comes into play when the company had to make major political decisions about its company when trading in own country or in other country. The socio cultural forces are the forces that define the environment that surrounds the company, i.e. in UAE the socio cultural environment are different whereas if DIB will setup its branches in other countries of world like India, or USA then they have to face a total different environment and that will affect the bank. All these forces varies at other places of the world as the technological advancement of one country can be very good and DIB can take the best use of that, and the political forces also depends on the type of country they are dealing with for ex. whether the country is an democracy, monarchy, anarchy etc. all these forces plays a very vital role in the development of a company in any country, especially for DIB it is a very important factor and the strategies of DIB should include techniques to tackle with political situations in other countries. Socio-cultural is by far the most important aspect for DIB as DIB is based on the teachings of Quran and believes in its principles, therefore there may exist a line between them and customers when the bank operates in non-Muslim country. C. task environment There are six major forces that drive a companys industry competition these are: Threat of new entrants: these forces vary from country to country, these forces are of high risks because there have been chances always that new entrants enters the market, and if the quality of products and services provided by them are proved to be good then obviously the older players has to suffer, more or less. Bargaining power of buyers: the bargaining power of buyers depends from country to country and according to situation, this force is rated as a medium force as not many buyers bargain on products i.e. good in quality. Threat of substitute products and services: the threat of substitute products and services are always high as any company can come up with an idea of better substituted product, and if that product is better than the companys product then the company has to suffer. Bargaining power of suppliers: bargaining power of suppliers is high as the supplier is the person whose quality of raw material decides the overall quality of product. Rivalry among competing firms: the rivalry among competing firms is of medium type as the rivalry depends on the number of competitors in the market and the quality of products they manufacture. Relative power of unions, governments, special interest groups, etc. have a high affect on the company as the companys trade at any place is subjected to the fact that they have good or not so good relations with the government of that country. D. Summary of external factors Socio-economic and task environment are the most important for the company and to the industry in which it is currently competing. Sustainability issues will be important for the company in the future. 4. Internal environment: strength and weakness A. corporate structure The decision making authority is centralized around one group of person which are known as the top management of the company. The corporation is organized on the basis of all these factors like functions, projects, and geography. The structure of the organization is pretty much clear as there is only one major group of decision makers and that is constituted under the top management of the company. The companys current structure consists of highly skilled international level CEOs and CFOs and as the companys main objective and strategy are consistent with the expansion of the company, therefore the present structure of the company is consistent with the firms international operations. This type of structure can be seen in similar organizations as every company has a top level of management that decides all the strategies and procedures for any company. B. corporate culture The culture of DIB is well emerged culture and is composed of shared beliefs, expectations and values. The current culture of DIB is very much consistent with the corporations current objectives, strategies, policies and programs as the major objective of the corporation is to expand their business. Environmental stability means a lot to DIB as some of their products are related to environment and other natural factors their work culture is defined by the environmental objectives. The corporation is well known for its banking basics and current position in the world, the bank is one of the top banks in this world to offer banking services related to Islamic sharia. The bank is internationalizing itself i.e. it is expanding their trade in other countries of the world. The culture is somewhat not very consistent with the employees background i.e. they will prefer those peoples who believes in Islamic sharia principles and according to them who have Islamic ethics. Thus much diversity in background is not encountered in the bank. The bank usually acts in Muslim based countries like UAE, Pakistan, Iran, Iraq etc. therefore it does not have much problems in this countries, but if we have to consider other countries that is not Muslim oriented then the corporation might find some problem in coping up the culture of that country. C. corporate resources 1. Marketing A. the current marketing objective of the company is to expand their market all over the world, and to increase the number of customers. Strategies that DIB is applying to complete this objective are clear and are consistent with the objectives and strategies of the company and are not implied just for mere implications. The 4ps i.e. product, price, place, promotion are the fields where the bank is doing exceptionally well, however there have been an ir-regulation performance of the bank for ex. the net income of the bank is 2,696 (AED m) in 2005, 4,577 (AED m) in 2006, 6,083 (AED m) in 2007, 5,270 (AED m) in 2008, and 5,133 (AED m) in 2009. The market of the bank is not very big in the current scenario but it is doing very good in Muslim countries and considered as one of the best muslim banks in the world. The bank is gaining its market in the muslim countries and loosing it in non- muslim countries. A high percentage of revenue were collected from the developed region as the number of wealthy customers who can take benefit of the services provided by DIB is more in developed regions. The bank is not consistent considering the revenue generated by it in the five year period from 2005-2009. The current and past performance of the corporation is the base for its future performance; the bank has to make strategies to increase their performance. Companys marketing performance is very good though they are facing a competition from leading banks like abu dhabi commercial bank, emirates NBD bank. Though the DIB operates on Islamic principles but the managers of DIB is still using traditional marketing techniques in terms of product lifecycle, market segmentation, market research etc. Usually DIB dont have to face different culture therefore it is not very difficult for them to market them in other regions or countries. Marketing manager considers all the major aspects of environmental sustainability when making decisions, a marketing managers role is very crucial in strategic making process as he has to suggest marketing policies when trading in some other country. 2. Finance The corporations current financial objective is to increase their net revenue collected, all the financial strategies, objectives, and policies are based on this fact. These facts are clearly stated and implied just not for the sake of show off but performing as well. These financial strategies if implied will be proved to be beneficial for the company. The companys efficiency ratio increased to .43 according to the stats of sep-2010, the debt to capital ratio increased by a ratio of 9.91 according to the data of sep-2010, the earning per share of the company increased by a ratio of 0.07 according to the data of sep-2010. The earnings per share increased by a ratio of 0.32. the operating cost of the company went up by 33.88% of sales. The investors expect that the price of the shares will go up in the current fiscal year. The trend in the companys financial stability is unstable i.e. it was never been consistent. No significant difference was reported when statements were calculated in constant versus reported dollars. The past trends will surely affect the future performance of the company as the new CFO will develop strategy that will cope up the net loss. The finance of the company is by far considered good but the company can very well utilize their resources to increase the financial stability. The company is facing challenge from some of Dubais lead Muslim banks in terms of finance, the financial managers are nowadays using traditional finance concepts and techniques to solve their finance related problems. The financial situation of the company is different in different parts of the world depending on the economy of that place for ex. developed and developing regions. Financial managers role is very crucial in the strategic management process, as finance is the most important section in a banking sector. 3. Research and development The corporation besides concentrating on its banking services is also indulged in core sectors like textiles, and aluminum fixtures. These strategies are meant to increase the products and services of the company and to increase their business. These strategies are consistent with the corporations mission, objectives, strategies and policies. The technology that they use to implement their policies plays a great role in manufacturing processes. The RD of the companys new services gives the company a competitive advantage, the return from the new products and services is not much because it is the newest field in the companys yard. The RD of the company depends on the environmental and climatic conditions of that country, companys technological discontinuity plays a vital role because the technology plays the most vital role in the manufacturing processes. The RD manager plays a very role in the companys strategic management process. 4. Operations and logistics The companys current manufacturing/service objectives, strategies and policies are clearly implemented and implied from performance and budget, the companys policies and strategies are in accordance with the companys main policies, strategy, and objectives. The company has to face problems in the external and internal environment regarding logistics and operations. The corporation deals with their products with suppliers who provide them with the raw materials, international export of materials is done in products and services. The company is currently engaged in flexible manufacturing, equipments are of new technology. Transportation facilities are available in most of the parts. The manufacturing and logistics of the company is affected by the various factors like natural disasters and climatic conditions. Operations manager are using new technology and services to evaluate and improve current technology. 5. Human resource management The corporations current HRM practice is to utilize their human resource to expand the companys business and to increase the customer base, along with introducing and developing new products. The net income per employee is 175,151 AED of the DIB, it is considered a descent income therefore it is clear that the company is very conserve towards their employees and do good care of them. The HRM of the company has the capability to increase their net profit and to affect other factors positively. The corporation is paying the employees heavily and they are giving them other incentives too, but other competitors are also conserved related to their employees. The HRM manager is utilizing the resources to the highest and often created strategies to do well in future like engaging their human resources in other products and services, and introduction of new posts. The company doesnt seems to have a diversify workforce from all over the world, but whatever they have with them they are managing them quite efficiently. Outsourcing plays a very important role in HR planning, as outsourcing provides manpower to complete objectives and tasks related to the company. Moreover the HR manager plays a very important role in the strategic management process, as every strategy requires manpower and the best use of human resources. 6. Information technology The organizations current IT objectives, strategies and policies includes modernization of all technologies in the context of IT, and this strategy is very well in accordance with the modern era in which the company is operating. The company has a proper database management system and analyst who can make changes in the database whenever required. After the use of modernized technologies it is very much predictable that the company will do well in the future regarding the advantages of the softwares used. All the leading banks in Dubai is using IT as a tool for performing processes and for services therefore DIB is facing a cut-throat competition in this field and must have to look upon for new technological services and tools. DIB has got a place in the worlds internet database and the information is very well conveyed regarding the company on the internet. IT manager is playing a very important role in developing the companys strategies as, many processes in the corporation is dependent on IT. D. Summary of internal factors Marketing, human resource and financing are the core-competencies for the company at present. The distinctive competencies of the corporation is its IT and logistics and operations. Finance, marketing and human resource are the most important factors that the company are engaged in presently. Human resource is the functions that are most suitable for outsourcing. 5. Analysis of strategic factors A. situational analysis The main analysis that affects the companys present and future performance are the finance performance, marketing, human resource and the sustainability issues. B. review of mission and objectives The current mission and objectives are appropriate for the companys progress but to some extent because the net profit, revenue generated and the share prices of the company is decreasing, therefore they need to have a look at its finance and marketing areas. If the finance and marketing sections are thoroughly reviewed an corrected then the corporation will grow larger momentum in the future. 6. Strategic alternatives and recommended strategies A. Strategic alternatives The current strategies if revise will prove to be very beneficial for the company. The recommended strategies will surely help the company to improve their performance. The recommended corporate strategies are stability, growth, and retrenchment. The recommended business strategies are cost leadership and differentiation. The corporate strategies will help the company to maintain the stability, but the corporation would have only static growth i.e. growth at a slow rate. The business strategies are however suggested taken into account the cost cutting and utilizing methods, they will surely help the financing section of the company, but however risk could not be taken if we implement these strategies. B. recommended strategies The main strategic options that the company has are: To utilize and to execrate most of their strength. To outwit their weakness. To make the most of their opportunities. And to manage their threats in the business. These strategies should be first implemented on ground level first and if prove to be affective they could be used further and prove to be of great use for the company for both long term and short term. 7. Implementation Instituting TQM would help the company to maintain better account of their services and processes. Software professional who has got a little idea about financing, marketing and system analysis can develop this software. As this is a high level program therefore the CEO should be the in charge of this program. The programs are financially feasible as it would not cost much, instead it will help the company in various cost-reduction processes. And also help maintaining their database and accounts. The software should be in beta phase first and then new inclusions will be made depending on the requirements. 8. Evaluation and control The company has an updated information system that helps them to track every activity in the corporation and also provide sufficient feedback on implementation activities and performance. The tools that the company uses can give accurate information about everything about the profit, loss, share prices etc. The information i.e. conveyed is timely and is very well implemented. The corporation is using benchmarking techniques to evaluate its functions and activities. Appropriate standards and measures are being taken while conformance of the recommended strategic plans. Reward system is a bonus for any employee in an organization therefore appropriate rewarding system is taken into account in the corporation.

CODA: Family Awareness, Individual Growth

CODA Language is obviously a vital tool. Not only is it a means of communicating thoughts and ideas, but it forges friendships, cultural ties, and economic relationships. Throughout history, many have reflected on the importance of language. For instance, the scholar Benjamin Whorf has noted that language shapes thoughts and emotions. John Stuart Mill said that â€Å"Language is the light of the mind. Lionel Groulx, a Quebec historian, put it this way: â€Å"Chacun retient toutefois que la supreme revelation du genie national, la clef magique qui donne acces aux plus hautes richesses de la culture, c’est la langue,† Meaning: Each retains, however, that the supreme revelation of the national genius, the magic key that gives access to the highest wealth of culture, it is the language. The success of an endeavour hinges on the ability to communicate effectively in today's fast paced life, everyone is asked to do more with less.In such a scenario effective communication ho lds the key. Effectively communication centers round the usage of words, speed of delivery of words, pitch modulation and body language. Sometimes communication can be a variety of different ways in one household. Language is an important part of ones’ own identity. â€Å"Mother father deaf† is a phrase commonly used in the deaf community to identify hearing children with deaf parents. Currently there are 28 million deaf and hard of hearing people in the United States. About 85% to 90% of children born to deaf parents are able to hear.Those children are referred to as CODAs (children with deaf adults). There are these families who face challenging obstacles between the two worlds including parenting challenges. CODA is an organization established for the purpose of promoting family awareness and individual growth in hearing children of deaf parents. CODA addresses bicultural identity through conferences, support groups and resource development Children with deaf parent s are as varied as children in the general population. Children with deaf parents can achieve just as much as any other child as well.Schools have a hard time with children and parents who have such issues. School board administrators are uncertain as to their legal obligation to provide communication access for deaf parents. For deaf parents, information is available for help on this subject but as a short; be aware of legal responsibilities of schools for the parents sake. Many adult children of deaf parents report that entering school was a difficult period of adjustment for them sense some teachers believe that students with deaf parents are in need of speech therapy or special education.When in contrast, its not necessary. Two of the earliest CODA success stories were Edward Miner Gallaudet and his brother Thomas, whose parents co-founded the first school for the deaf in the United State. Thomas became an Episcopal minister and helped establish one of the first churches for dea f people. Edward founded the world’s only liberal arts higher education institution for deaf students. However, many CODAs enter fields of work that have nothing to do with deafness and still succeed at high levels.Texas attorney/politician Homer Thornberry became a member of congress, federal judge, and nominee to the United States Supreme Court. The list of CODAs who have earned Ph. D. degrees is very lengthy. Louise Fletcher, the daughter of a prominent deaf Episcopalian minister, won an Oscar for best actress in One Flew Over the Cuckoo’s Nest in 1975. There are so many more success stories that could be listed but there are also the individual stories from CODAs themselves. â€Å"How did you learn to talk? , Is asked towards Jake, a CODA with deceased deaf parents. His reply was, â€Å"I was the firstborn, and there were no other hearing people who would regularly stop by, so I learned how to speak when I was old enough to go outside to play with the other heari ng children around 4 or 5. † Two or more years of age is when the average child begins to talk, this means that a child with deaf adult is libel to take longer to begin its own speech. The next question, â€Å"how did your parents manage parent-teacher meetings at school? this came the reply of, â€Å"they never went†¦ however, I do remember one time my mother did come to school, while my first grade class was in session, and I subsequently found out that it was because she was told that I needed to repeat the first grade. † I believe that if deaf adults were aware of their rights with their children, communication with school staff wouldn’t be an issue and parents would love to know about their children’s achidemic progress, and so issues with their child would promptly disappear.A third question was asked, â€Å"Were your parents actively involved in the deaf community? If so, did they bring you along to deaf events and social gatherings? † followed by the answer, â€Å"yes, my mother would bring us to various deaf functions in the Philadelphia area (where she grew up), such as functions at church, movie night†¦ My father was from New Jersey, so all four of us would go to the deaf clubs and functions in New Jersey. I think hearing children born with deaf parents grow up feeling a part of both the deaf and hearing communitys, â€Å"but many deaf, especially ones I meet for the first time as an adult, seem to put us in a strictly hearing category and ignore me somewhat,† exclaims Jake. I don’t think that is exactly fair considering that hearing children with deaf adults do grow up with the same life style and they do know the challenge most deaf go through. Yet, there are many assumptions that are far from correct. Such assumptions as, deaf parents cannot hear or speak, is a myth that is far from true.In fact, almost all deaf people can speak, although the clarity may vary they still can. Many deaf pe ople have had bad experiences using speech to communicate. Sense as children, many deaf persons were forced to speak, and they are also aware of the negatively noted reactions made by the public sense their speech is not impeccable. Another assumption of, all children with deaf parents know sign language, is incorrect. Many CODAs consider American Sign Language as their first language but some deaf parents are oral speakers and choose not to sign to their children. Read also  Summary : Love Is Never SilentMany parents also encourage their children to use English exclusively. CODA helps many families in these situations figure out what to do for their children though. CODAs international servise is there helping so many families that would struggle with the diversity in a household. â€Å"Deaf community† has developed for over the last two centries, and is based on shared experiences of deafness. Children with deaf parents have shared the same experiences without the physical attribute itself, that’s why there is CODA. CODA—Children of Deaf adults, is a non-profit organization for the adult hearing sons and daughters of deaf parents. The organization began in 1983 and has grown to include people from many different countries and very different family and extended family situations,† is the first thing that is stated on the national CODA webpage to back up their reassuring support with so many families. They insure ef fective communication within the family and stay to help. â€Å"Thank you,† is what so many are saying to the CODA foundation and they deserve more than that, how about a round of applause?

Shopping Online and Shipping to Canada

If youre on the Canadian side of the border and shopping online on American sites, hidden costs may catch you by surprise. There are things you should check before you give out your credit card number. First, ensure that the shopping site offers international shipping or at least shipping to Canada. Theres little more irritating than going through an online store, filling your shopping cart, and then discovering that the vendor doesnt ship outside the United States. Shipping Charges to Canada Good sites will list their shipping policies and procedures upfront, usually in the customer service or help sections. Shipping charges are determined by weight, size, distance, speed, and number of items. Read the details carefully. Dont forget to factor in the exchange rate for the shipping charges as well as for the cost of the merchandise. Even if the exchange rate is in your favor, your credit card company will likely add a charge for currency conversion. The shipping charges and methods of shipment, usually mail or courier, arent the total cost youll have to pay to get that package across the border. Youll also have to pay Canadian customs duties, taxes, and customs brokerage fees. Canadian Customs Duties Because of the North American Free Trade Agreement, Canadians dont have to pay duties on most American and Mexican manufactured items. But just because you buy an item from a U.S. store doesnt mean it was made in the United States; its possible it was imported into the United States first. If so, you may be charged duty when it comes into Canada. So check before you buy and if possible get something in writing from the online store in case the Canada Customs people decide to be particular. Duties on goods vary widely, depending on the product and the country where it was manufactured. In general, on goods ordered from a foreign retailer, there is no assessment unless Canada Customs can collect at least $1 in duties and taxes. If you have questions about Canada customs and duties, contact the Border Information Service during business hours and speak to an officer. Canadian Taxes Just about everything individuals import into Canada is subject to the Goods and Services Tax (GST) of 5 percent. The GST is calculated after customs duties have been applied. Youll also have to pay the applicable Canadian Provincial Sales Tax (PST) or Quebec Sales Tax (QST). The provincial retail sales tax rates vary between provinces, as do the goods and services to which the tax is applied and how the tax is applied. In Canadian provinces with a Harmonized Sales Tax (HST) (New Brunswick, Nova Scotia, Newfoundland and Labrador, Ontario, and Prince Edward Island), youll be charged the HST rather than the separate GST and provincial sales tax. Customs Brokers Fees Fees for customs brokers services can really surprise you. Courier companies and postal services use customs brokers to get packages processed through Canada Customs at the Canadian border. Fees for that service will be passed along to you. Canada Post is authorized to charge the recipient a handling fee of $5 for mail items and $8 for express mail items for collecting duties and taxes assessed by the Canada Border Services Agency (CBSA). If there is no duty or tax owed, they dont charge a fee. Customs brokers fees for courier companies vary but are usually much higher than the Canada Post fee. Some courier companies include the custom brokers fees in the courier service price, depending on the level of courier service you select. Others will add the customs brokers fees on top and youll have to pay those before you can get your parcel. If you select a courier service for shipping to Canada, check whether the level of service includes customs brokers fees. If it isnt mentioned on the online shopping site youre using, you can check the service guide on the individual courier company website or call the local number of the courier company to find out their policies on international shopping.