Search results for: cost of bank loans

Authors: Krzysztof Rafał, Weronika Radziszewska, Hubert Biedka, Oskar Grabowski, Krzysztof Mik

Abstract:

We present a method to choose energy storage technologies and their parameters for the economic operation of a microgrid. A grid-connected system with local loads and PV generation is assumed, where an energy storage system (ESS) is attached to minimize energy cost by providing energy balancing and arbitrage functionalities. The ESS operates in a hybrid configuration and consists of two unique technologies operated in a coordinated way. Based on given energy profiles and economical data a model calculates financial flow for ESS investment, including energy cost and ESS depreciation resulting from degradation. The optimization strategy proposes a hybrid set of two technologies with their respective power and energy ratings to minimize overall system cost in a given timeframe. Results are validated through microgrid simulations using real-life input profiles.

Keywords: energy storage, hybrid energy storage, cost-benefit analysis, microgrid, battery sizing

Procedia PDF Downloads 194

Authors: Princess Ncube

Abstract:

In the context of South Africa's banking sector, the prevention of bank failures is of paramount importance to ensure financial stability and economic growth. This paper focuses on the role of regulatory frameworks in safeguarding the resilience of South African banks and mitigating the risks of failures. It aims to assess the effectiveness of existing regulatory measures and proposes strategies to enhance the resilience of financial institutions in the country. The paper begins by examining the specific regulatory frameworks in place in South Africa, including capital adequacy requirements, stress testing methodologies, risk management guidelines, and supervisory practices. It delves into the evolution of these measures in response to lessons learned from past financial crises and their relevance in the unique South African banking landscape. Drawing on empirical evidence and case studies specific to South Africa, this paper evaluates the effectiveness of regulatory frameworks in preventing bank failures within the country. It analyses the impact of these frameworks on crucial aspects such as early detection of distress signals, improvements in risk management practices, and advancements in corporate governance within South African financial institutions. Additionally, it explores the interplay between regulatory frameworks and the specific economic environment of South Africa, including the role of macroprudential policies in preventing systemic risks. Based on the assessment, this paper proposes recommendations to strengthen regulatory frameworks and enhance their effectiveness in bank failure prevention in South Africa. It explores avenues for refining existing regulations to align capital requirements with the risk profiles of South African banks, enhancing stress testing methodologies to capture specific vulnerabilities, and fostering better coordination among regulatory authorities within the country. Furthermore, it examines the potential benefits of adopting innovative approaches, such as leveraging technology and data analytics, to improve risk assessment and supervision in the South African banking sector.

Keywords: banks, resolution, liquidity, regulation

Procedia PDF Downloads 66

Authors: Kenneth O. Otasowie, Matthew Ikuabe, Clinton Aigbavboa, Ayodeji Oke

Abstract:

Construction project cost are not only made up of production costs. This cost comprises of many other elements such as the preparation of a bidding document, cost estimations, drafting contractual agreements and monitoring that contractual obligations are met. Several studies have stressed the need for transaction costs (TC) to be defined in a way that covers all phases of a project and not only the pre-contract phase. Hence, this study aims to appraise transaction cost in South African (SA) construction projects by assessing what constitutes transaction cost, influencing factors and possible optimisation measures. A survey design was adopted. A total number of eighty (80) questionnaires were administered to quantity surveyors, procurement managers and project managers in Guateng Province, SA and seventy-two (72) were returned and found suitable for analysis. Collected data was analysed using percentage, mean item score, standard deviation, one-sample t-test. The findings show that external technical interaction, uncertainty, human factors are the most significant constituents of TC in SA, while technical competency, experience in similar project type and project characteristics are the leading influencing factors. Furthermore, understanding project characteristics, clear communication and technically competent project teams are most of the significant measures for optimising TC in SA construction projects. Therefore, this study recommends that a competent project team and a clear communication are fundamental to proper management of TC in SA construction projects.

Keywords: construction projects, project cost, South Africa, transaction cost

Procedia PDF Downloads 79

Authors: Dimitra Alexiou, Stefanos Katsavounis, Ria Kalfakakou

Abstract:

In an urban area the determination of transportation routes should be planned so as to minimize the provoked pollution taking into account the cost of such routes. In the sequel these routes are cited as pollution routes. The transportation network is expressed by a weighted graph G= (V, E, D, P) where every vertex represents a location to be served and E contains unordered pairs (edges) of elements in V that indicate a simple road. The distances/cost and a weight that depict the provoked air pollution by a vehicle transition at every road are assigned to each road as well. These are the items of set D and P respectively. Furthermore the investigated pollution routes must not exceed predefined corresponding values concerning the route cost and the route pollution level during the vehicle transition. In this paper we present an algorithm that generates such routes in order that the decision maker selects the most appropriate one.

Keywords: bi-criteria, pollution, shortest paths, computation

Procedia PDF Downloads 353

Authors: Chris Durden, Peter Lane

Abstract:

Cost accounting information potentially plays an important role in price setting. According to prior research fixed and variable cost information often is a key influence on pricing decisions. The literature highlights the benefits of applying systematic costing systems for enhanced price setting processes. This paper explores how costing systems are used for pricing decisions in the tourism and hospitality industry relative to other sources of price setting information. Pricing based on full cost information was found to have relatively greater importance and short-term survival and customer oriented objectives were found to be the more important pricing objectives. This paper contributes to the literature by providing a recent analysis of accounting’s role in price setting within the tourism and hospitality industry.

Keywords: cost accounting systems, pricing decisions, cost-plus pricing, market pricing, tourism industry

Procedia PDF Downloads 367

Authors: Filippo Ranalli, Forest Flager, Martin Fischer

Abstract:

This paper presents a ground structure method to optimize the topology and discrete member sizing of steel frame structures in order to minimize total installed cost, including material, fabrication and erection components. The proposed method improves upon existing cost-based ground structure methods by incorporating constructability considerations well as satisfying both strength and serviceability constraints. The architecture for the method is a bi-level Multidisciplinary Feasible (MDF) architecture in which the discrete member sizing optimization is nested within the topology optimization process. For each structural topology generated, the sizing optimization process seek to find a set of discrete member sizes that result in the lowest total installed cost while satisfying strength (member utilization) and serviceability (node deflection and story drift) criteria. To accurately assess cost, the connection details for the structure are generated automatically using accurate site-specific cost information obtained directly from fabricators and erectors. Member continuity rules are also applied to each node in the structure to improve constructability. The proposed optimization method is benchmarked against conventional weight-based ground structure optimization methods resulting in an average cost savings of up to 30% with comparable computational efficiency.

Keywords: cost-based structural optimization, cost-based topology and sizing, optimization, steel frame ground structure optimization, multidisciplinary optimization of steel structures

Procedia PDF Downloads 321

Authors: Lai Ving Kam

Abstract:

Many markets are maturing, consumer buying powers are weakening and customer preferences change rapidly. To survive, many adopt fast paced continuous cost reduction and competitive pricing to remain relevance. Marketers desire to push for more sales to increase revenues have intensified competitions at time cannibalize the product and market. The amazing technologies changes have created both hope and despair to the industries. The pressure to constantly reduce cost, on the one hand, create and market new products in cheaper prices and shorter life cycles, on the other has become a continuous endeavour. The twin trends appear irreconcilable. Can core strategic vision provides and adapts new directions in continuous cost reduction? This study investigates core strategic vision able to meet this need, for firms to survive and stay profitable. Under current uncertainty market, are firms falling back on their core strategic visions to take them out of the unfavourable positions?

Keywords: core strategy vision, continuous cost reduction, fashionable products industry, competitive pricing

Procedia PDF Downloads 300

Authors: Wa`d Odeh, Alon Tal, Alfred Abed Rabbo, Nader Al Khatib, Shai Arnon

Abstract:

The presence of endocrine disrupting compounds (EDCs) in raw sewage and effluents from wastewater treatment plants (WWTPs) has been increasingly studied in the last few decades. Higher risks are said to characterize situations where raw sewage streams are found to be flowing, or where partial and inadequate wastewater treatment exists. Such conditions are prevalent in the West Bank area of Palestine. To our knowledge, no previous data concerning the occurrence and fate of EDCs in the aquatic environment has ever been systematically evaluated in the region. Hence, the main objective of this study was to identify the occurrence and concentrations of major EDCs in raw sewage, wastewater effluents produced by treatment plants and in the receiving environments, including streams and groundwater in the West Bank, Palestine. Water samples were collected and analyzed for four times during the years of 2013 and 2014. Two large-scale conventional activated sludge WWTPs, two wastewater watercourses, one naturally perennial stream, and five groundwater locations close to wastewater sources were sampled and analyzed by GC/MS following EPA methods (525.2). Five EDCs (estriol, estrone, testosterone, bisphenol A, and octylphenol) were detected in trace concentrations (ng/l) in wastewater streams and at inputs to WWTPs. WWTPs were not able to achieve complete removal of all EDCs, and EDCs were still found in the effluents. In this regard, the most significant environmental estrogenic impact was due to estrone concentrations. Nevertheless, no EDCs were detected in groundwater. Yet, in order for effluents to be reused, significant improvement in treatment infrastructure should be a top priority for environmental managers in the region.

Keywords: endocrine disrupting compounds, raw sewage streams, conventional activated sludge WWTPs, WWTPs effluents

Procedia PDF Downloads 381

Authors: S. P. Koko, K. Kusakana, H. J. Vermaak

Abstract:

Standalone micro-hydrokinetic river (MHR) system is one of the promising technologies to be used for remote rural electrification. It simply requires the flow of water instead of elevation or head, leading to expensive civil works. This paper demonstrates an economic benefit offered by a standalone MHR system when compared to the commonly used standalone systems such as solar, wind and diesel generator (DG) at the selected study site in Kwazulu Natal. Wind speed and solar radiation data of the selected rural site have been taken from national aeronautics and space administration (NASA) surface meteorology database. The hybrid optimization model for electric renewable (HOMER) software was used to determine the most feasible solution when using MHR, solar, wind or DG system to supply 5 rural houses. MHR system proved to be the best cost-effective option to consider at the study site due to its low cost of energy (COE) and low net present cost (NPC).

Keywords: economic analysis, micro-hydrokinetic, rural-electrification, cost of energy (COE), net present cost (NPC)

Procedia PDF Downloads 405

Authors: Hninn Thiri Naing

Abstract:

In Myanmar, there are many regions that are far away from the national grid. For these areas, isolated regional micro-grids are one of the solutions. The study area in this paper is also operating in such way. The main difficulty in such regions is the high cost of electrical energy. This paper will be approached to cost-effective or cost-optimization by energy planning with renewable energy resources and natural gas. Micro-grid will be set up for performance in the Dawei region since it is economic zone in lower Myanmar and so far from national grids. The required metrological and geographical data collections are done. Currently, the status is electric unit rate is higher than the other. For microgrid planning and optimization, Homer Pro-software is employed in this research.

Keywords: energy planning, renewable energy, homer pro, cost of energy

Procedia PDF Downloads 111

Authors: Salami Akeem Olanrewaju

Abstract:

The transportation models or problems are primarily concerned with the optimal (best possible) way in which a product produced at different factories or plants (called supply origins) can be transported to a number of warehouses or customers (called demand destinations). The objective in a transportation problem is to fully satisfy the destination requirements within the operating production capacity constraints at the minimum possible cost. The objective of this study is to determine ways of minimizing transport cost in order to maximum profit. Data were gathered from the records of the Distribution Department of 7-Up Bottling Company Plc. Ilorin, Kwara State, Nigeria. The data were analyzed using SPSS (Statistical Package for Social Sciences) while applying the three methods of solving a transportation problem. The three methods produced the same results; therefore, any of the method can be adopted by the company in transporting its final products to the wholesale dealers in order to minimize total production cost.

Keywords: cost minimization, resources utilization, distribution system, allocation problem

Procedia PDF Downloads 235

Authors: Salah Al-Din I. Badran, Samad Ahmadi, Ismail Shahin

Abstract:

A blind source separation method is proposed; in this method, we use a non-uniform filter bank and a novel normalisation. This method provides a reduced computational complexity and increased convergence speed comparing to the full-band algorithm. Recently, adaptive sub-band scheme has been recommended to solve two problems: reduction of computational complexity and increase the convergence speed of the adaptive algorithm for correlated input signals. In this work, the reduction in computational complexity is achieved with the use of adaptive filters of orders less than the full-band adaptive filters, which operate at a sampling rate lower than the sampling rate of the input signal. The decomposed signals by analysis bank filter are less correlated in each subband than the input signal at full bandwidth, and can promote better rates of convergence.

Keywords: blind source separation, computational complexity, subband, convergence speed, mixture

Procedia PDF Downloads 556

Authors: Aristeidis Samitas, Stathis Polyzos

Abstract:

As the UK and the EU prepare to start negotiations for Brexit, it is important for both sides to comprehend the full extent of the consequences of this process. In this paper, we employ an object oriented simulation framework in order to test for the short-term and long-term effects of Brexit on both sides of the Channel. The relative strength of the UK economy and the banking sector vis-à-vis the EU is taken under consideration. Our results confirm predictions in the relevant literature regarding the output cost of Brexit, with particular emphasis on the EU. Furthermore, we show that financial stability is also an important issue on both sides, with the banking system suffering significant losses, particularly over the longer term. Our findings suggest that policymakers should be extremely careful in handling Brexit negotiations, making sure to consider dynamic effects that may be caused by UK bank assets moving to the EU after Brexit. The model results show that, as the UK banking system loses its assets, the end state of the UK economy is deteriorated while the end state of EU economy is improved.

Keywords: Banking Crises, Brexit, Financial Stability, VBanking

Procedia PDF Downloads 260

Authors: Stefanie Behncke

Abstract:

This paper analyses the effects of different macroprudential policy measures that have recently been implemented in Switzerland. Among them is the activation and the increase of the countercyclical capital buffer (CCB) and a tightening of loan-to-value (LTV) requirements. These measures were introduced to limit systemic risks in the Swiss mortgage and real estate markets. They were meant to affect mortgage growth, mortgage risks, and banks’ capital buffers. Evaluation of their quantitative effects provides insights for Swiss policymakers when reassessing their policy. It is also informative for policymakers in other countries who plan to introduce macroprudential instruments. We estimate the effects of the different macroprudential measures with a Differences-in-Differences estimator. Banks differ with respect to the relative importance of mortgages in their portfolio, their riskiness, and their capital buffers. Thus, some of the banks were more affected than others by the CCB, while others were more affected by the LTV requirements. Our analysis is made possible by an unusually informative bank panel data set. It combines data on newly issued mortgage loans and quantitative risk indicators such as LTV and loan-to-income (LTI) ratios with supervisory information on banks’ capital and liquidity situation and balance sheets. Our results suggest that the LTV cap of 90% was most effective. The proportion of new mortgages with a high LTV ratio was significantly reduced. This result does not only apply to the 90% LTV, but also to other threshold values (e.g. 80%, 75%) suggesting that the entire upper part of the LTV distribution was affected. Other outcomes such as the LTI distribution, the growth rates of mortgages and other credits, however, were not significantly affected. Regarding the activation and the increase of the CCB, we do not find any significant effects: neither LTV/LTI risk parameters nor mortgage and other credit growth rates were significantly reduced. This result may reflect that the size of the CCB (1% of relevant residential real estate risk-weighted assets at activation, respectively 2% at the increase) was not sufficiently high enough to trigger a distinct reaction between the banks most likely to be affected by the CCB and those serving as controls. Still, it might be have been effective in increasing the resilience in the overall banking system. From a policy perspective, these results suggest that targeted macroprudential policy measures can contribute to financial stability. In line with findings by others, caps on LTV reduced risk taking in Switzerland. To fully assess the effectiveness of the CCB, further experience is needed.

Keywords: banks, financial stability, macroprudential policy, mortgages

Procedia PDF Downloads 338

Authors: Zainab Khalifah, Wong Chiet Bing, Noor Hazarina Hashim

Abstract:

The evolution of customer behavior in purchasing products or services through the Internet leads to airline companies engaging in the e-ticketing process in order to maintain their business. A well-designed website is vitally significant for the airline companies to provide effective communication, support, and competitive advantage. This study was conducted to identify the dimensions of website quality for low cost airline and to investigate the relationship between the website quality and customer e-satisfaction at low cost airline. A total of 381 responses were conveniently collected among local passengers at Low Cost Carrier Terminal, Kuala Lumpur via questionnaire distribution. This study found that the five determinant factors of website quality for AirAsia were Information Content, Navigation, Responsiveness, Personalization, and Security and Privacy. The results of this study revealed that there is a positive relationship between the five dimensions of website quality and customer e-satisfaction, and also information content was the most significant contributor to customer e-satisfaction.

Keywords: website quality, customer e-satisfaction, low cost airline, e-ticketing

Procedia PDF Downloads 401

Authors: Usama Abdulwahab, Mohammed Wahab

Abstract:

This paper presents the application of uncapacitated facility location problems (UFLP) and 1-median problems to support decision making in blood supply chain networks. A plethora of factors make blood supply-chain networks a complex, yet vital problem for the regional blood bank. These factors are rapidly increasing demand; criticality of the product; strict storage and handling requirements; and the vastness of the theater of operations. As in the UFLP, facilities can be opened at any of $m$ predefined locations with given fixed costs. Clients have to be allocated to the open facilities. In classical location models, the allocation cost is the distance between a client and an open facility. In this model, the costs are the allocation cost, transportation costs, and inventory costs. In order to address this problem the median algorithm is used to analyze inventory, evaluate supply chain status, monitor performance metrics at different levels of granularity, and detect potential problems and opportunities for improvement. The Euclidean distance data for some Ontario cities (demand nodes) are used to test the developed algorithm. Sitation software, lagrangian relaxation algorithm, and branch and bound heuristics are used to solve this model. Computational experiments confirm the efficiency of the proposed approach. Compared to the existing modeling and solution methods, the median algorithm approach not only provides a more general modeling framework but also leads to efficient solution times in general.

Keywords: approximate dynamic programming, facility location, perishable product, inventory model, blood platelet, P-median problem

Procedia PDF Downloads 487

Authors: Munnujahan Ara

Abstract:

In this paper, we investigate the effect of friendly jamming power allocation strategies on the achievable average secrecy rate over a bank of parallel fading wiretap channels. We investigate the achievable average secrecy rate in parallel fading wiretap channels subject to Rayleigh and Rician fading. The achievable average secrecy rate, due to the presence of a line-of-sight component in the jammer channel is also evaluated. Moreover, we study the detrimental effect of correlation across the parallel sub-channels, and evaluate the corresponding decrease in the achievable average secrecy rate for the various fading configurations. We also investigate the tradeoff between the transmission power and the jamming power for a fixed total power budget. Our results, which are applicable to current orthogonal frequency division multiplexing (OFDM) communications systems, shed further light on the achievable average secrecy rates over a bank of parallel fading channels in the presence of friendly jammers.

Keywords: fading parallel channels, wire-tap channel, OFDM, secrecy capacity, power allocation

Procedia PDF Downloads 485

Authors: Jack R. McKenzie, Peter A. Appleby, Thomas House, Neil Walton

Abstract:

Cold-start is a notoriously difficult problem which can occur in recommendation systems, and arises when there is insufficient information to draw inferences for users or items. To address this challenge, a contextual bandit algorithm – the Fast Approximate Bayesian Contextual Cold Start Learning algorithm (FAB-COST) – is proposed, which is designed to provide improved accuracy compared to the traditionally used Laplace approximation in the logistic contextual bandit, while controlling both algorithmic complexity and computational cost. To this end, FAB-COST uses a combination of two moment projection variational methods: Expectation Propagation (EP), which performs well at the cold start, but becomes slow as the amount of data increases; and Assumed Density Filtering (ADF), which has slower growth of computational cost with data size but requires more data to obtain an acceptable level of accuracy. By switching from EP to ADF when the dataset becomes large, it is able to exploit their complementary strengths. The empirical justification for FAB-COST is presented, and systematically compared to other approaches on simulated data. In a benchmark against the Laplace approximation on real data consisting of over 670, 000 impressions from autotrader.co.uk, FAB-COST demonstrates at one point increase of over 16% in user clicks. On the basis of these results, it is argued that FAB-COST is likely to be an attractive approach to cold-start recommendation systems in a variety of contexts.

Keywords: cold-start learning, expectation propagation, multi-armed bandits, Thompson Sampling, variational inference

Procedia PDF Downloads 95

Authors: Perpetual Nwakaego Ibe

Abstract:

The Millennium Development Goals (MDGs), were an integrated project formed to eradicate many unnatural situations the citizens of the third world country may found themselves in. The MDGs, to be a sustainable project for the future depends 100% on the actions of governments, multilateral institutions and civil society. This paper first looks at the political views on the MDGs and relates it to the current electoral situations around the country by underlining the drastic changes over the few months. The second part of the paper presents ICT in tertiary institutions as one of the solutions in terms of the success of the MDGs. ICT is vital in all phases of educational process and development of the cloud connectivity is an added advantage of Information and Communication Technology (ICT) for sharing a common data bank for research purposes among UNICEF, RED CROSS, NPS, INEC, NMIC, and WHO. Finally, the paper concludes with areas that needs twigging and recommendations for the tertiary institutions committed to delivering an ambitious set of goals. A combination of observation, and document materials for data gathering was employed as the methodology for carrying out this research.

Keywords: MDG, ICT, data bank, database

Procedia PDF Downloads 183

Authors: Mergleda Hodo

Abstract:

All national governments aim to achieve economic equilibrium to build sustainable welfare, political stability, and economic equilibrium. There are various instruments to stimulate economic development and growth and achieve macroeconomic objectives. After the collapse of the political and economic system in the 1990s, some countries faced the complex challenge of economic development. This study aims to determine, based on empirical research, whether and to what extent tax revenue has an impact on the economic development of Albania. Furthermore, it gives an overview of the ways in which high tax burdens on the western Balkan countries have negatively affected foreign investment and reduced economic growth. This analysis is important for these selected countries, as the financial system has changed significantly over the years and has been affected significantly by a period of economic transition. The analysis is performed based on secondary data possessed by the World Bank and the central bank of each participating country between 2005 and 2018. The research findings indicate that tax policy affects, to a significant extent, the economic development of Albania. An efficient tax system is when individuals are willing to pay tax liability which will help in improving the economic well-being of a country.

Keywords: tax, development, economic growth, tax revenue

Procedia PDF Downloads 57

Authors: Mohamed Aljarallah, Mohamed Nurullah, George Saridakis

Abstract:

This paper aims and objectives are to investigate how the structural change of the financial regulatory bodies affect the financial supervision and how the regulators can design such a structure with taking into account; the Central Bank, the conduct of business and the prudential regulators, it will also consider looking at the structure of the international regulatory bodies and what barriers are found. There will be five questions to be answered; should conduct of business and prudential regulation be separated? Should the financial supervision and financial stability be separated? Should the financial supervision be under the Central Bank? To what extent the politician should intervene in changing the regulatory and supervisory structure? What should be the regulatory and supervisory structure when there is financial conglomerate? Semi structure interview design will be applied. This research sample selection contains a collective of financial regulators and supervisors from the emerged and emerging countries. Moreover, financial regulators and supervisors must be at a senior level at their organisations. Additionally, senior financial regulators and supervisors would come from different authorities and from around the world. For instance, one of the participants comes from the International Bank Settlements, others come from European Central Bank, and an additional one will come from Hong Kong Monetary Authority and others. Such a variety aims to fulfil the aims and objectives of the research and cover the research questions. The analysis process starts with transcription of the interview, using Nvivo software for coding, applying thematic interview to generate the main themes. The major findings of the study are as follow. First, organisational structure changes quite frequently if the mandates are not clear. Second, measuring structural change is difficult, which makes the whole process unclear. Third, effective coordination and communication are what regulators looking for when they change the structure and that requires; openness, trust, and incentive. In addition to that, issues appear during the event of crisis tend to be the reason why the structure change. Also, the development of the market sometime causes a change in the regulatory structure. And, some structural change occurs simply because of the international trend, fashion, or other countries' experiences. Furthermore, when the top management change the structure tends to change. Moreover, the structure change due to the political change, or politicians try to show they are doing something. Finally, fear of being blamed can be a driver of structural change. In conclusion, this research aims to provide an insight from the senior regulators and supervisors from fifty different countries to have a clear understanding of why the regulatory structure keeps changing from time to time through a qualitative approach, namely, semi-structure interview.

Keywords: financial regulation bodies, financial regulatory structure, global financial regulation, financial crisis

Procedia PDF Downloads 119

Authors: Tanvir A. Uddin, Blake Goud

Abstract:

Emerging trends in FinTech-enabled alternative finance, which includes channels and instruments emerging outside the traditional financial system, heralds unprecedented opportunities to improve financial intermediation and increase access to finance. With widespread criticism of the mainstream Islamic banking and finance sector as either mimicking the conventional system, failing to achieve inclusive growth or both, industry stakeholders are turning to technology to show that finance can be done differently. This paper will outline the critical elements for successful deployment of technology to maximize benefit and minimize potential for harm from introduction of Islamic FinTech and propose recommendations for Islamic financial institutions, FinTech companies, regulators and other stakeholders who are integrating or who are considering introducing FinTech solutions. The paper will present an overview of literature, present relevant case studies and summarize the lessons from interviews conducted with Islamic FinTech founders from around the world. With growing central bank concerns about leveraged loans and ballooning private credit markets globally (estimated at $1.4 trillion), current and future Islamic FinTech operators are at risk of contributing to the problems they aim to solve by operating in a 'shadow banking' system. The paper will show that by systematising a robust theory of change linked to positive outcomes, utilising objective impact frameworks (e.g., the Impact Measurement Project) and instilling a risk management culture that is proactive about potential social harm (e.g., irresponsible lending), FinTech can enable the Islamic finance industry to support positive social impact and minimize harm in support of the maqasid. The adoption of FinTech within the Islamic finance context is still at a nascent stage and the recommendations we provide based on the limited experience to date will help address some of the major cross-cutting issues related to FinTech. Further research will be needed to elucidate in more detail issues relating to individual sectors and countries within the broader global Islamic finance industry.

Keywords: alternative finance, FinTech, Islamic finance, maqasid, theory of change

Procedia PDF Downloads 112

Authors: P. Saravanakumar, N. Raja, M. Rameshkumar, D. Mohankumar, R. Sateeshkumar, B. Maheshwari

Abstract:

This research work is designed using Microsoft VB. Net as front end and MySQL as back end. The project deals with secure the user transaction in the ATM system. This application contains the option for sending the failed transaction details to the particular customer by using the SMS. When the customer withdraws the amount from the Bank ATM system, sometimes the amount will not be dispatched but the amount will be debited to the particular account. This application is used to avoid this type of problems in the ATM system. In this proposed system using IR technique to detect the dispatched amount. IR Transmitter and IR Receiver are placed in the path of cash dispatch. It is connected each other through the IR signal. When the customers withdraw the amount in the ATM system then the amount will be dispatched or not is monitored by IR Receiver. If the amount will be dispatched then the signal will be interrupted between the IR Receiver and the IR Transmitter. At that time, the monitoring system will be reduced their particular withdraw amount on their account. If the cash will not be dispatched, the signal will not be interrupted, at that time the particular withdraw amount will not be reduced their account. If the transaction completed successfully, the transaction details such as withdraw amount and current balance can be sent to the customer via the SMS. If the transaction fails, the transaction failed message can be send to the customer.

Keywords: ATM system, monitoring system, IR Transmitter, IR Receiver

Procedia PDF Downloads 291

Authors: Nouha Ben Salah, Mohamed Ali Omri

Abstract:

This paper treats the association between disclosure level and the cost of equity capital in Tunisian’slisted firms. This relation is tested by using two models. The first is used for testing this relation directly by regressing firm specific estimates of cost of equity capital on market beta, firm size and a measure of disclosure level. The second model is used for testing this relation by introducing information asymmetry as mediator variable. This model is suggested by Baron and Kenny (1986) to demonstrate the role of mediator variable in general. Based on a sample of 21 non-financial Tunisian’s listed firms over a period from 2000 to 2004, the results prove that greater disclosure is associated with a lower cost of equity capital. However, the results of indirect relationship indicate a significant positive association between the level of voluntary disclosure and information asymmetry and a significant negative association between information asymmetry and cost of equity capital in contradiction with our previsions. Perhaps this result is due to the biases of measure of information asymmetry.

Keywords: cost of equity capital, voluntary disclosure, information asymmetry, and Tunisian’s listed non-financial firms

Procedia PDF Downloads 496

Authors: Sadia Bibi, Karim Ullah

Abstract:

Islamic banks have excess liquidity, which needs proper management to earn a high rate of return on them to remain competitive. However, they lack assets-backed avenues and rely on a few sukuks, which led them to liquidity management issues. Financial engineering comes forward to innovate and develop instruments for the requisite financial problem. Still, they face many challenges, explored in the context of liquidity management in Islamic banks. The rigorous literature review shows that Shariah compliance, competition from the conventional banks, lack of sufficient instruments, derivatives are still not accepted as legitimate products, the inter-bank market being less developed, and no possibility of lender of last resort is the six significant constraints to financial engineering for liquidity management of Islamic banks. To further explore the problem, a multiple case study strategy is used to extend and develop the theory with the philosophical stance of social constructivism. Narrative in-depth interviews over the telephone are conducted with key personnel at treasury departments of selected banks. Data is segregated and displayed using NVivo 11 software, and the thematic analysis approach identifies themes related to the constraints. The exploration of further constraints to financial engineering for liquidity management of Islamic banks achieves the research aim. The theory is further developed by the addition of three more constraints to the theoretical framework, which are i) lack of skilled human resources, ii) lack of unified vision, and iii) lack of government support to the Islamic banks. These study findings are fruitful for the use of the government, regulatory authorities of the banking sector, the State Bank of Pakistan (Central Bank), and the product design & development division of Islamic banks to make the financial engineering process feasible and resolve liquidity management issues of Islamic banks.

Keywords: financial engineering, liquidity management, Islamic banks, shariah compliance

Procedia PDF Downloads 57

Authors: Yu Zhang, Kohei Inoue, Kiichi Urahama

Abstract:

We propose a simplified bilateral filter with binarized coefficients for accelerating it. Its computational cost is further decreased by sampling pixels. This computationally low cost filter is useful for smoothing or denoising images by using mobile devices with limited computational power.

Keywords: bilateral filter, binarized-weight bilateral filter, image smoothing, image denoising, pixel sampling

Procedia PDF Downloads 453

Authors: Qiuxiao Chen, Yan Hou, Ning Wu

Abstract:

As there are deficiencies of the classic Douglas-Peucker Algorithm (DPA), such as high risks of deleting key nodes by mistake, high complexity, time consumption and relatively slow execution speed, a new Deletion-Cost Based Compression Algorithm (DCA) for linear vector data was proposed. For each curve — the basic element of linear vector data, all the deletion costs of its middle nodes were calculated, and the minimum deletion cost was compared with the pre-defined threshold. If the former was greater than or equal to the latter, all remaining nodes were reserved and the curve’s compression process was finished. Otherwise, the node with the minimal deletion cost was deleted, its two neighbors' deletion costs were updated, and the same loop on the compressed curve was repeated till the termination. By several comparative experiments using different types of linear vector data, the comparison between DPA and DCA was performed from the aspects of compression quality and computing efficiency. Experiment results showed that DCA outperformed DPA in compression accuracy and execution efficiency as well.

Keywords: Douglas-Peucker algorithm, linear vector data, compression, deletion cost

Procedia PDF Downloads 225

Authors: Khan Sarfaraz, Mohammad Ali Mia

Abstract:

Money laundering and other financial crime have become a global threat in recent years, impacting both developed and poor countries. In developing countries like Bangladesh, it is more difficult to combat financial crime than in developing countries because of the inadequate regulatory environment and vulnerable financial system. Bangladesh's central bank issues guidelines to facilitate the implementation of the prevention of the money laundering act. According to the guideline of Bangladesh Bank, all financial institution has to develop anti-money laundering policy to ensure the safety and soundness of their institutions. The paper aims to focus on the role of authorized agencies in combating financial crime. In this paper, the latest trends in financial crimes have been discussed from global and Asian perspectives. The preventive measures for money laundering and other financial crimes have been discussed elaborately. So far, financial crime is a sophisticated and dynamic crime, and criminals continuously took innovative processes to use the financial system to launder money. The study will take a step in pointing out new techniques, effects and challenges of financial crime in Bangladesh.

Keywords: financial crime, illegal money transfer, online gambling, money laundering, authorized agencies

Procedia PDF Downloads 62

Authors: Yu-Yao Wang, Xiao-Meng Hu, Joanne Yeung, Xiao-Yan Li

Abstract:

The high private cost and unquantified external cost limit the development of reclaimed water. In this study, an integrated framework comprising life cycle assessment (LCA), quantitative microbial risk assessment (QMRA), and life cycle costing (LCC) was developed to evaluate both costs of reclaimed water supply in water systems of various scales. LCA assesses the environmental impacts, and QMRA estimates the associated pathogenic impacts. These impacts are monetized as external costs and analyzed with the private cost by LCC to count the total life cycle cost. The framework evaluated the Hong Kong urban water system in the baseline scenario (BS) and five wastewater reuse scenarios (RS). They are RSI: substituting freshwater for toilet flushing only, RSII: substituting both freshwater and seawater for toilet flushing, RSIII: using reclaimed water for all non-potable uses, RSIV: using reclaimed water for all non-potable uses and indirect potable uses, and RSV: non-potable use and indirect potable use by conveying 100% reclaimed water to recharge the reservoirs. The results show that substituting freshwater and seawater for toilet flushing has the least total life cycle cost, exhibiting that it is the most cost-effective option for Hong Kong. Meanwhile, the evaluation results show that the external cost of each scenario is comparable to the corresponding private cost, indicating the importance of the inclusion of comprehensive external cost evaluation in private cost assessment of water systems with reclaimed water supply.

Keywords: life cycle assessment, life cycle costing, quantitative microbial risk assessment, water reclamation, reclaimed water, alternative water resources

Procedia PDF Downloads 103

Authors: Lo Kar Yin, Law Ka Mei

Abstract:

Architectural, engineering, construction and operations (AECO) industry practitioners have been well adapting to the dynamic construction market from the fundamental training of its discipline. As further triggered by the pandemic since 2019, great steps are taken in virtual environment and the best collaboration is strived with project teams without boundaries. With adoption of Building Information Modeling-based approach and qualitative analysis, this paper is to review quantity take-off and cost estimation process through modeling techniques in liaison with suppliers, fabricators, subcontractors, contractors, designers, consultants and services providers in the construction industry value chain for automatic project cost budgeting, project cost control and cost evaluation on design options of in-situ reinforced-concrete construction and Modular Integrated Construction (MiC) at design stage, variation of works and cash flow/spending analysis at construction stage as far as practicable, with a view to sharing the findings for enhancing mutual trust and co-operation among AECO industry practitioners. It is to foster development through a common prototype of design and build project delivery method in NEC Engineering and Construction Contract (ECC) Options A and C.

Keywords: building information modeling, cost estimation, quantity take-off, modeling techniques

Procedia PDF Downloads 156