Till late sixties, large scale retailing institutions like Super Markets, Departmental Stores, and Discount Houses
were not heard of in Pakistan.
Nigeria's FMDQ OTC Plc specialist exchange was formed as a self-regu- lating organisation by the Financial Markets Dealers Association and a committee of all banks and discount houses
chaired by the Central Bank of Nigeria.
The retail mass merchandisers segment is primarily a mass merchandiser and includes supermarkets, hypermarkets, discount houses
, and warehouse clubs.
Leasing Companies, Investment Banks, Housing Finance Companies and Discount Houses
have also been segregated in non-deposit taking and deposit-taking entities with distinct regulatory requirements.
The central bank also restricted lenders and discount houses
from placing more than NGN7.
The circular, titled: Exclusion of Non-Distributable Regulatory Reserve and Other Reserves in the Computation of Regulatory Capital of Banks and Discount Houses
, said the policy is part of the ongoing reforms by the regulator aimed at ensuring more prudent assessment of the regulatory capital of Money Deposit Banks.
As traffic grows, the financial services, currently in short supply, such as credit card agents or discount houses
to offer credit to pay bills in areas which do not accept credit cards, will be required.
With the drop in sales, there has been some inventory dumping by Internet discount houses
," Hall notes.
Markets include home improvement centers, nurseries, landscape contractors, greenhouses, garden supply stores, grocery chains, flower shops, discount houses
, and the general public.
NIBSS provides the infrastructure for automated processing, settlement of payments and fund transfer instructions between banks, discount houses
and card companies in Nigeria and is jointly owned by all the licensed banks in the country and CBN, with substantial shares held by discount houses
operating in the country.
I had seen the same thing happen years before with the specialty computer shops that ruled the roost until the discount houses
and the Internet priced them out.
However, as a result of the release of revised guidelines for Discount Houses
by the Central Bank of Nigeria (CBN) in 2008 (which inter alia broadened the functions of discount houses
and removed the ownership restriction), Kakawa has expanded into a number of related fields aimed at both the corporate sector and private investors.