ZAR

Rand from South Africa. Also used in Lesotho and Namibia.

Similar financial terms

Moral hazard
The risk that the existence of a contract will change the behavior of one or both parties to the contract, e.g. an insured firm will take fewer fire precautions.

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Quorum

This is the minimum number of people which can attend a meeting (such as a Board Meeting) in order for the meeting to be official and for business to be properly conducted. For example, a Board of 5 persons may specify that a quorum for a meeting is 3 persons. Hence, if only 2 people show up, the meeting would not continue.


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