Search results for: anti-money laundering and counter terrorism financing

Authors: Farhan Alam Farhan Alam, Fatah Nugroho, Setyawan Wahyu Pradana

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Tan Malaka was a great Indonesian Marxism thinker. His idea of Marxism give encouragement to the struggle for Indonesian independence. Furthermore, it refers to what Marx said as the flexibility of a Marxist. Tan Malaka developed the Marxist theory against what have already existed so that Marxism can be harmonized and compatible with the context of Indonesia. For example, Tan Malaka initiated the cooperation between the Marxist movement and Pan-Islamism. The collaboration of Islam with Marxism which is so contradictive at that time was seen by Tan Malaka as a necessity in order to against capitalism. By using study literature and historiography methods, this paper attempts to analyze the application of the Marxism theory in the Tan Malaka’s perspective in Indonesia today in order to counter capitalism currently. His perspective combines Marxism with Islam as a solid collaboration of ideology.

Keywords: Indonesia, Marxism, Islam, Marxist theory, Tan Malaka

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Authors: Huseyin Cetin, Halil Akmese, Sercan Aras, Vahit Aytekin

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Economic crisis, terrorism, global crisis and the relations between countries are the factors affecting tourism industry and tourism industry is vulnerable against these factors. In our study, there are two dimensions about Russian crisis. The crisis between Russia and Ukraine and decreased oil prices in global market have been entailed Russian economic crisis. This crisis has induced that the ruble, Russian currency, has depreciated against American dollars and consequently the purchasing power of Russian has weakened. This is the first dimension of our study. Second dimension is a political crisis between Turkey and Russia owing to the fact that the Russian Warcraft was brought down by Turkish army. The aim of this study is to explain the impact of the consequences of Russian crisis on Turkish tourism industry. The study has been limited only Antalya province.

Keywords: economic crisis, Turkey-Russian crisis, Turkey's tourism industry, tourism in Turkey

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Authors: Gizem İntepe, Eti Mizrahi

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Investment and financing decisions are influenced by various economic features. Detailed analysis should be conducted in order to make decisions not only by companies but also by governments. Such analysis can be conducted either at the company level or on a sectoral basis to reduce risks and to maximize profits. Sectoral disaggregation caused by seasonality effects, subventions, data advantages or disadvantages may appear in sectors behaving parallel to BIST (Borsa Istanbul stock exchange) Index. Proposed logistic indices could serve market needs as a decision parameter in sectoral basis and also helps forecasting activities in import export volume changes. Also it is an indicator of logistic activity, which is also a sign of economic mobility at the national level. Publicly available data from “Ministry of Transport, Maritime Affairs and Communications” and “Turkish Statistical Institute” is utilized to obtain five logistics indices namely as; exLogistic, imLogistic, fLogistic, dLogistic and cLogistic index. Then, efficiency and reliability of these indices are tested.

Keywords: economic activity, export trade data, import trade data, logistics indices

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Authors: Kolade Olawande Owoeye, George R. S. Weir

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The widespread of terrorism and extremism activities on the internet has become a major threat to the government and national securities due to their potential dangers which have necessitated the need for intelligence gathering via web and real-time monitoring of potential websites for extremist activities. However, the manual classification for such contents is practically difficult or time-consuming. In response to this challenge, an automated classification system called composite technique was developed. This is a computational framework that explores the combination of both semantics and syntactic features of textual contents of a web. We implemented the framework on a set of extremist webpages dataset that has been subjected to the manual classification process. Therein, we developed a classification model on the data using J48 decision algorithm, this is to generate a measure of how well each page can be classified into their appropriate classes. The classification result obtained from our method when compared with other states of arts, indicated a 96% success rate in classifying overall webpages when matched against the manual classification.

Keywords: extremist, web pages, classification, semantics, posit

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Authors: Asma Ben Yaghlane, Mohamed Naceur Azaiez

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In this paper, we treat a model that falls in the area of protecting targeted systems from intelligent threats including terrorism. We introduce the concept of system survivability, in the context of continuous attacks, as the probability that a system under attack will continue operation up to some fixed time t. We define a constant attack rate (CAR) process as an attack on a targeted system that follows an exponential distribution. We consider the superposition of several CAR processes. From the attacker side, we determine the optimal attack strategy that minimizes the system survivability. We also determine the optimal strengthening strategy that maximizes the system survivability under limited defensive resources. We use operations research techniques to identify optimal strategies of each antagonist. Our results may be used as interesting starting points to develop realistic protection strategies against intentional attacks.

Keywords: CAR processes, defense/attack strategies, exponential failure, survivability

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Authors: M. C. Arcuri, L. Gai, F. Ielasi

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Italian Central Guarantee Fund (CGF) has the purpose to facilitate Small and Medium-sized Enterprises (SMEs)’ access to credit. The aim of the paper is to study the evaluation method adopted by the CGF with regard to SMEs requiring its intervention. This is even more important in the light of the recent CGF reform. We analyse an initial sample of more than 500.000 guarantees from 2012 to 2018. We distinguish between a counter-guarantee delivered to a mutual guarantee institution and a guarantee directly delivered to a bank. We investigate the impact of variables related to the operations and the SMEs on Altman Z’’-score and the score consistent with CGF methodology. We verify that the type of intervention affects the scores and the initial condition changes with the new assessment criterions. 

Keywords: banks, default risk, Italian guarantee fund, mutual guarantee institutions

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Authors: Salma Mefteh-Wali, Marie-Josephe Rigobert

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We investigate the impact of foreign currency debt on firm performance for a sample of non-financial French firms studied over the period 2002 to 2012. As foreign currency debt is both a financing and hedging instrument against foreign exchange risk, we mobilize optimal hedging theory and capital structure theory. When we study the impact on firm value, our main results show that before and after the financial crisis of 2008, foreign debt had the same behavior as domestic debt. We find that during the crisis period, foreign debt positively affects firm value. Investors perceive foreign debt as a natural hedging instrument that is likely to reduce the costs of underinvestment, alleviate cash flow volatility, limit the costs of financial distress, and generate tax shield benefits. Also, our results show that foreign leverage negatively affects the firm performance proxied by ROA and ROE, during and after the financial crisis. However, this impact is positive in the pre-crisis period.

Keywords: foreign currency derivatives, foreign currency debt, foreign currency hedging, firm performance

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Authors: Majdi M. Alomari, Nafesah I. Alshdaifat, Mohammad S. Widyan

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Different countries have introduced different schemes and policies to counter global warming. The rationale behind the proposed policies and the potential barriers to successful implementation of the policies adopted by the countries were analyzed and estimated based on different models. It is argued that these models enhance the transparency and provide a better understanding to the policy makers. However, these models are underpinned with several structural and baseline assumptions. These assumptions, modeling features and future prediction of emission reductions and other implication such as cost and benefits of a transition to a low-carbon economy and its economy wide impacts were discussed. On the other hand, there are potential barriers in the form political, financial, and cultural and many others that pose a threat to the mitigation options.

Keywords: energy models, environmental policy instruments, mitigating CO2 emission, economic wide impact

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Authors: Pamela Aimee Rigor

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This study aims to examine the representation of Syrian refugees resettled in Vancouver and the Lower Mainland in local community and major newspapers. While there is strong support for immigration in Canada, public opinion towards refugees and asylum seekers is a bit more varied. Concerns about the legitimacy of refugee claims are among the common concerns of Canadians, and hateful or negative narratives are still present in Canadian media discourse which affects how people view refugees. To counter the narratives, these Syrian refugees must publicly declare how grateful they are because they are resettled in Canada. The dominant media discourse is that these refugees should be grateful as they have been graciously accepted by Canada and Canadians, once again upholding the image of Canada being a generous and humanitarian nation. The study examined the representation of Syrian refugees and the Syrian refugee resettlement in Canadian newspapers from September 2015 to October 2017 – around the time Prime Minister Trudeau came into power up until the present. Using a combination of content and discourse analysis, it aimed to uncover how local community and major newspapers in Vancouver covered the Syrian refugee ‘crisis’ – more particularly, the arrival and resettlement of the refugees in the country. Using the qualitative data analysis software Nvivo 12, the newspapers were analyzed and sorted into themes. Based on the initial findings, the discourse of Canada being a humanitarian country and Canadians being generous, as well as the idea of Syrian refugees having to publicly announce how grateful they are, is still present in the local community newspapers. This seems to be done to counter the hateful narratives of citizens who might view them as people who are abusing help provided by the community or the services provided by the government. However, compared to the major and national newspapers in Canada, many these local community newspapers are very inclusive of Syrian refugee voices. Most of the News and Community articles interview Syrian refugees and ask them their personal stories of plight, survival, resettlement and starting a ‘new life’ in Canada. They are not seen as potential threats nor are they dismissed – the refugees were named and were allowed to share their personal experiences in these news articles. These community newspapers, even though their representations are far from perfect, actually address some aspects of the refugee resettlement issue and respond to their community’s needs. There are quite a number of news articles that announce community meetings and orientations about the Syrian refugee crisis, ways to help in the resettlement process, as well as community fundraising activities to help sponsor refugees or resettle newly arrived refugees. This study aims to promote awareness of how these individuals are socially constructed so we can, in turn, be aware of the certain biases and stereotypes present, and its implications on refugee laws and public response to the issue.

Keywords: forced migration and conflict, media representations, race and multiculturalism, refugee studies

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Authors: S. Halioui, I. Arikan, M. Schmidt

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Tourism sector in Tunisia faces several problems that range from economic challenges to environmental degradation and social instability. These problems have been intensified because of the increased competition in the tourism market, the political instability, financial crises, and recently terrorism problems have aggravated the situation. As a consequence, a new framework that promotes sustainable tourism in the country and increases its competitiveness is urgently needed. Planning for sustainable tourism sector requires the integration of complex interactions between economic, social and environmental aspects. Sustainable tourism principles can be implemented with the help of Strategic Environmental Assessment (SEA) process, which ensures the full integration of economic, social and environmental considerations while planning for the tourism sector in Tunisia. Results of the paper have broad implications for policy makers and tourism professionals.

Keywords: sustainable tourism, strategic environmental assessment, tourism planning, policy

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Authors: Samuel I. Becher, Tal Z. Zarsky

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The digital world becomes part of our DNA now. The way e-commerce, human behavior, and law interact and affect one another is rapidly and significantly changing. Among others things, the internet equips consumers with a variety of platforms to share information in a volume we could not imagine before. As part of this development, online information flows allow consumers to learn about businesses and their contracts in an efficient and quick manner. Consumers can become informed by the impressions that other, experienced consumers share and spread. In other words, consumers may familiarize themselves with the contents of contracts through the experiences that other consumers had. Online and offline, the relationship between consumers and businesses are most frequently governed by consumer standard form contracts. For decades, such contracts are assumed to be one-sided and biased against consumers. Consumer Law seeks to alleviate this bias and empower consumers. Legislatures, consumer organizations, scholars, and judges are constantly looking for clever ways to protect consumers from unscrupulous firms and unfair behaviors. While consumers-businesses relationships are theoretically administered by standardized contracts, firms do not always follow these contracts in practice. At times, there is a significant disparity between what the written contract stipulates and what consumers experience de facto. That is, there is a crucial gap (“the Gap”) between how firms draft their contracts on the one hand, and how firms actually treat consumers on the other. Interestingly, the Gap is frequently manifested by deviation from the written contract in favor of consumers. In other words, firms often exercise lenient approach in spite of the stringent written contracts they draft. This essay examines whether, counter-intuitively, policy makers should add firms’ leniency to the growing list of firms suspicious behaviors. At first glance, firms should be allowed, if not encouraged, to exercise leniency. Many legal regimes are looking for ways to cope with unfair contract terms in consumer contracts. Naturally, therefore, consumer law should enable, if not encourage, firms’ lenient practices. Firms’ willingness to deviate from their strict contracts in order to benefit consumers seems like a sensible approach. Apparently, such behavior should not be second guessed. However, at times online tools, firm’s behaviors and human psychology result in a toxic mix. Beneficial and helpful online information should be treated with due respect as it may occasionally have surprising and harmful qualities. In this essay, we illustrate that technological changes turn the Gap into a key component in consumers' understanding, or misunderstanding, of consumer contracts. In short, a Gap may distort consumers’ perception and undermine rational decision-making. Consequently, this essay explores whether, counter-intuitively, consumer law should sanction firms that create a Gap and use it. It examines when firms’ leniency should be considered as manipulative or exercised in bad faith. It then investigates whether firms should be allowed to enforce the written contract even if the firms deliberately and consistently deviated from it.

Keywords: consumer contracts, consumer protection, information flow, law and economics, law and technology, paper deal v firms' behavior

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Authors: Aarushi Baloria, Joshina Jamwal

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The paper attempts to understand the genesis of the Kashmir conflict, the LoC trade, and the various challenges which impede LoC trade. The paper further understands how this trade assists in mitigating tension between the countries and act as a conference building measure (CBM). The paper discusses later on the positive aspects of LoC trade with the help of statistical data like increase in state's economy along with negatives like smuggling of arms, drugs, swapping and interchanging of Hawala money and other unconstitutional activities like terrorism that took place on trade points across LoC. Moreover, the paper also mentioned in the international context; the episodes of Ireland of Europe, Palestine of Middle East, Uganda of Africa not only as transaction step but also as a peace channel between the fragmented parts. Thus, the paper, in a nutshell, reflects how the trade across LoC benefited in various psychological, economic, and political reasons, and it is worth taking risk, taking its overall positive things into consideration.

Keywords: drugs, economy, international, peace, psychological, trade

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Authors: Chijindu D. Mgbemere

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Mass killing also known as genocide is the systematic killing of people from national, ethnic, or religious group, or an attempt to do so. The act has been there before 1948, when it was officially recognized for what it is. From then, the world has continued to witness genocide in diverse forms- negating different measures by the United Nations and its agencies to curb it. So far, all the studies and documentations on this subject are biased in favor of radio and the print. This paper therefore extended the interrogation of genocide, drumming its devastating effects, using the film medium; and in doing so devised innovative and pragmatic approach to genocide scholarship. It further centered attention on the factors and impacts of genocide, with a view to determine how effective film can be in such a study. The study is anchored on Bateson’s Framing Theory. Four films- Hotel Rwanda, Half of a Yellow Sun, Attack on Darfur, and sarafina, were analyzed, based on background, factors/causes, impacts, and development of genocide, via Content Analysis. The study discovered that: as other continents strive towards peace, acts of genocide are on the increase in African. Bloodletting stereotypes give Africa negative image in the global society. Difficult political frameworks, the trauma of postcolonial state, aggravated by ethnic and religious intolerance, and limited access to resources are responsible for high cases of genocide in Africa. The media, international communities, and peace agencies often abet other than prevent genocide or mass killings in Africa. High human casualty and displacement, children soldering, looting, hunger, rape, sex-slavery and abuse, mental and psychosomatic stress disorders are some of the impacts of genocide. Genocidaires are either condemned or killed. Grievances can be vented using civil resistance, negotiation, adjudication, arbitration, and mediation. The cinema is an effective means of studying and documenting genocide. Africans must factor the image laundering of their continent into consideration. Punishment of genocidaires without an attempt to de-radicalize them is counterproductive.

Keywords: African film, genocide, framing theory, mass murder

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Authors: Mahdieh Dehghan Nayeri, Hani Arbabi, Seid Pooyan Ghafoori

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Civic crowdfunding- crowdfunding public projects- which goes beyond people management- as a significant part of public projects stakeholders- and requires the active engagement of the public in both the financing and decision-making processes of public projects, is expanding. However, in most countries of the world, no specific legal framework has been approved for governing and managing the implementation of projects through this method. Through a systematic literature review, following the Preferred Reporting Items for Systematic Reviews (PRISMA), this article has studied and discussed the legal issues of civic crowdfunded projects in the countries leading the use of this method, in four themes; one related to the legal environment and three related to three leading players in civic crowdfunded projects include the investor, the platform, and the investee. The review showed that despite the increasing attention to people's engagement in public projects -financial and non-financial- not much scientific research has been done to formulate fully structured legal structures. Finally, neglected areas in research have been discussed as a guide for future research.

Keywords: civic crowdfunding, equity crowdfunding, public projects, legal issues, crowdsourcing

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Authors: Ahmed Al-Sultan

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The check-in area of airport terminal is one of the busiest sections at airports at certain periods. The passengers are subjected to queues and delays during the check-in process. These delays and queues are due to constraints in the capacity of service facilities. In this project, the airport terminal is decomposed into several check-in areas. The airport check-in scheduling problem requires both a deterministic (integer programming) and stochastic (simulation) approach. Integer programming formulations are provided to minimize the total number of counters in each check-in area under the realistic constraint that counters for one and the same flight should be adjacent and the desired number of counters remaining in each area should be fixed during check-in operations. By using simulation, the airport system can be modeled to study the effects of various parameters such as number of passengers on a flight and check-in counter opening and closing time.

Keywords: airport terminal, integer programming, scheduling, simulation

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Authors: M. Radunovic

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Region of Southeastern Europe has a substantial energy resource potential and is witnessing an increasing rate of power and energy project investments. This comes as a result of countries harmonizing their legal framework and market regulations to conform the ones of European Union, enabling direct private investments. Funding in the power and energy market in this region originates from various resources and investment entities, including commercial and institutional ones. Risk anticipation and assessment is crucial to project success, especially given the long exploitation period of project in power and energy domain, as well as the wide range of stakeholders involved. This paper analyzes the possibility of combined application of tools used in total quality management and international financing institutions for project planning, execution and evaluation, with the goal of anticipating, assessing and minimizing the risks that might occur in the development and execution phase of a power and energy project in the market of southeastern Europe. History of successful project management and investments both in the industry and institutional sector provides sufficient experience, guidance and internationally adopted tools to provide proper project assessment for investments in power and energy. Business environment of southeastern Europe provides immense potential for developing power and engineering projects of various magnitudes, depending on stakeholders’ interest. Diversification on investment sources provides assurance that there is interest and commitment to invest in this market. Global economic and political developments will be intensifying the pace of investments in the upcoming period. The proposed approach accounts for key parameters that contribute to the sustainability and profitability of a project which include technological, educational, social and economic gaps between the southeastern European region and western Europe, market trends in equipment design and production on a global level, environment friendly approach to renewable energy sources as well as conventional power generation systems, and finally the effect of the One Belt One Road Initiative led by People’s Republic of China to the power and energy market of this region in the upcoming period on a long term scale. Analysis will outline the key benefits of the approach as well as the accompanying constraints. Parallel to this it will provide an overview of dominant threats and opportunities in present and future business environment and their influence to the proposed application. Through concrete examples, full potential of this approach will be presented along with necessary improvements that need to be implemented. Number of power and engineering projects being developed in southeastern Europe will be increasing in the upcoming period. Proper risk analysis will lead to minimizing project failures. The proposed successful combination of reliable project planning tools from different investment areas can prove to be beneficial in the future power and engineering investments, and guarantee their sustainability and profitability.

Keywords: capital investments, lean six sigma, logical framework approach, logical framework matrix, one belt one road initiative, project management tools, quality function deployment, Southeastern Europe, total quality management

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Authors: Hazim Abdulsada

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The inspection of underneath vehicle system has been given significant attention by governments after the threat of terrorism become more prevalent. New technologies such as mobile robots and computer vision are led to have more secure environment. This paper proposed that a mobile robot like Aria robot can be used to search and inspect the bombs under parking a lot vehicle. This robot is using fuzzy logic and subsumption algorithms to control the robot that movies underneath the vehicle. An OpenCV library and laser Hokuyo are added to Aria robot to complete the experiment for under vehicle inspection. This experiment was conducted at the indoor environment to demonstrate the efficiency of our methods to search objects and control the robot movements under vehicle. We got excellent results not only by controlling the robot movement but also inspecting object by the robot camera at same time. This success allowed us to know the requirement to construct a new cost effective robot with more functionality.

Keywords: fuzzy logic, mobile robots, Opencv, subsumption, under vehicle inspection

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Authors: Kasman, Darmawansyah, Alimin Maidin, Amran Razak

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Background: In decentralization, advocacy is needed to increase the health budget in Parepare District. One of the advocacy methods recommended by the World Bank is the economic loss approach. Methods: This research is observational in the field of health economics that contributes directly to the magnitude of the economic loss of the community and the government and provides advocacy to the executive and legislative to see the harm it causes. Results: The research results show the amount of direct cost, which consists of household expenditure for transport Rp.295,865,500. Indirect Cost of YLD of Rp.14.688.000, and YLL of Rp.28.986.336.00, so the amount of DALY is Rp.43.674.336.000. The total economic loss of Rp.43.970.201.500. These huge economic losses can be prevented by increasing the allocation of health budgets for promotive and preventive efforts and expanding the coverage of health insurance for the community. Conclusion: There is a need to advocate the executive and legislative about the importance of guarantee on public health financing by conducting studies in terms of economic losses so that all strategic alliances believe that health is an investment.

Keywords: advocacy, economic lost, health insurance, economic losses

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Authors: Aminu Fagge Muhammad

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The digital economy is fast becoming the most innovative and widest reaching economy in the world, especially in developing countries. The paper aimed at examining role of digital economy in the emerging countries like Nigeria. The methodology used in the study is Business Model Perspective: lying between the process and structural perspectives, bring in the idea of the new business models that are being enabled e.g. e-business or e-commerce. The paper concluded that, the policy objectives and measures, and processes and structures necessary to enhance digital economy growth and its contribution to socio-economic development. The finding reveals that, digital infrastructure is in part incomplete, costly and poorly-performing in emerging economies like Nigeria. The wider digital ecosystem suffers a shortfall in human capabilities, weak financing, and poor governance. It is also found that, Growth in the digital economy is exacerbating digital exclusion, inequality, adverse incorporation and other digital harms. It is recommended that, government in partnership with private sector should build strong local infrastructure to enable broadband availability and accessibility and to create an enabling environment for strong competition in the telecom and technology ecosystem.

Keywords: Digital Economy, Emerging Countries, Business Model , Nigeria

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Authors: Siti Ruhliah Lizarose Samion, Mohamed Sukri Mat Ali

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The effect of sawtooth plate thickness on the aerodynamic noise generated in flow at a Reynolds number of 150 is numerically investigated. Two types of plate thickness (hthick=0.2D and hthin=0.02D) are proposed. Flow simulations are carried out using Direct Numerical Simulation, whereas the calculation of aerodynamic noise radiated from the flow is solved using Curle’s equation. It is found that the flow behavior of thin sawtooth plate, consisting counter-rotating-vortices, is more complex than that of the thick plate. This then explains well the generated sound in both plates cases. Sound generated from thin plat is approximately 0.5 dB lower than the thick plate. Findings from current study provide better understanding of the flow and noise behavior in edge serrations via understanding the case of a sawtooth plate.

Keywords: aerodynamic sound, bluff body, sawtooth plate, Curle analogy

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Authors: Shahid Minhas

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This study 'Dissecting the Hindu and New York Times perspective on War on Terror' conducted to determine the comparative perspective and portrayal of war on Terror in Pakistan. The study also aimed to find out how these two selected countries i.e. India and America, press depict and how considerably they cover the war on terror in Pakistan, which also benefits to know the policy of government concerned. This study also analyzes to what extent Indian and American press followed its foreign policy guidelines in the coverage of the war on Terror in Pakistan. This study observes that actually, the New York Times pays little consideration to Pakistan and even the third words countries, and when it pays consideration, it tends to cover negative news. Pakistan is more frequently covers unfavorable than positive likewise encircled more frequently as a fundamentalist than a liberal state by the Hindu, While stance that Pakistan has played the anti-India tag to develop equities cultivate non-state groups as chattels.

Keywords: war on terror, terrorism, Pak-India relation, Pak-US relation

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Authors: Haitam Emhemad, Brian Agnew, David Greenwood

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Amongst the many priorities facing Libya following the 2011 uprising is the provision of a transport infrastructure that will meet the nation’s needs and not undermine its prospects for economic prosperity as with many developing economies non-technical issues such as management, planning and financing are the major barriers to the efficient and effective provision of transport infrastructure. This is particularly true in the case of the effective incorporation of sustainability criteria, and the research upon which this paper is based involves the examination of alternative ways of approaching this problem. It is probably fair to say that criteria that relate to sustainability have not, historically, featured strongly in Libya’s approach to the development of its transport infrastructure. However, the current reappraisal of how best to redevelop the country’s transport infrastructure that has been afforded by recent events may offer the opportunity to alter this. The research examines recent case studies from a number of countries to explore ways in which sustainability has been included as a criterion for planning and procurement decisions. There will also be an in-depth investigation into the Libyan planning and legislative context to examine the feasibility of the introduction of such sustainability criteria into the process of planning and procurement of Libya’s transport infrastructure.

Keywords: Libya reconstruction, sustainability criteria, transport infrastructure, public transport

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Authors: Mohamed Saad Ahmed Hussien

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This paper discusses the risk management in Islamic banks and aims to determine the difference in the practices and methods of risk management in those banks compared to the conventional banks, and to make a case study of the biggest Islamic bank in Egypt (Faisal Islamic Bank of Egypt) to identify the most important financial risks faced and how to manage those risks. It was found that Islamic banks face two types of risks. The first type is similar to the risks in conventional banks; the second type is the additional risks which facing the Islamic banks only as a result of some Islamic modes of financing. With regard to the risk management, Islamic banks such as conventional banks applied the regulatory rules issued by the Central Banks and the Basel Committee; Islamic banks also applied the instructions and procedures issued by the Islamic Financial Services Board (IFSB). Also, Islamic banks are similar to the conventional banks in the practices and methods which they use to manage the risks. And there are some factors that may affect the risk management in Islamic banks, such as the size of the bank and the efficiency of the administration and the staff of the bank.

Keywords: conventional banks, Faisal Islamic Bank of Egypt, Islamic banks, risk management

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Authors: Malika Imoula, Rachid Saci, Renee Gatignol

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A numerical investigation is carried out to analyze vortex flows in a free surface cylinder, driven by the independent rotation and differentially heated boundaries. As a basic uncontrolled isothermal flow, we consider configurations which exhibit steady axisymmetric toroidal type vortices which occur at the free surface; under given rates of the bottom disk uniform rotation and for selected aspect ratios of the enclosure. In the isothermal case, we show that sidewall differential rotation constitutes an effective kinematic means of flow control: the reverse flow regions may be suppressed under very weak co-rotation rates, while an enhancement of the vortex patterns is remarked under weak counter-rotation. However, in this latter case, high rates of counter-rotation reduce considerably the strength of the meridian flow and cause its confinement to a narrow layer on the bottom disk, while the remaining bulk flow is diffusion dominated and controlled by the sidewall rotation. The main control parameters in this case are the rotational Reynolds number, the cavity aspect ratio and the rotation rate ratio defined. Then, the study proceeded to consider the sensitivity of the vortex pattern, within the Boussinesq approximation, to a small temperature gradient set between the ambient fluid and an axial thin rod mounted on the cavity axis. Two additional parameters are introduced; namely, the Richardson number Ri and the Marangoni number Ma (or the thermocapillary Reynolds number). Results revealed that reducing the rod length induces the formation of on-axis bubbles instead of toroidal structures. Besides, the stagnation characteristics are significantly altered under the combined effects of buoyant-thermocapillary convection. Buoyancy, induced under sufficiently high Ri, was shown to predominate over the thermocapillay motion; causing the enhancement (suppression) of breakdown when the rod is warmer (cooler) than the ambient fluid. However, over small ranges of Ri, the sensitivity of the flow to surface tension gradients was clearly evidenced and results showed its full control over the occurrence and location of breakdown. In particular, detailed timewise evolution of the flow indicated that weak thermocapillary motion was sufficient to prevent the formation of toroidal patterns. These latter detach from the surface and undergo considerable size reduction while moving towards the bulk flow before vanishing. Further calculations revealed that the pattern reappears with increasing time as steady bubble type on the rod. However, in the absence of the central rod and also in the case of small rod length l, the flow evolved into steady state without any breakdown.

Keywords: buoyancy, cylinder, surface tension, toroidal vortex

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Authors: Yu Chen, Weiwei Ren, Xiaojing Mu, Feng Zhang, Yi Xu

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The superhydrophobic surface is widely used to reduce friction for the flow inside micro-channel and can be used to control/manipulate fluid, cells and even proteins in lab-on-chip. Fabricating micro grooves on hydrophobic surfaces is a common method to obtain such superhydrophobic surface. This study utilized the numerical method to investigate the effect of eccentric micro-grooves on the friction of flow inside micro-channel. A detailed parametric study was conducted to reveal how the eccentricity of micro-grooves affects the micro-channel flow under different grooves sizes, channel heights, Reynolds number. The results showed that the superhydrophobic surface with eccentric micro-grooves induces less friction than the counter part with aligning micro-grooves, which means requiring less power for pumps.

Keywords: eccentricity, micro-channel, micro-grooves, superhydrophobic surface

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Authors: Malik Shahzad Shabbir, Muhammad Saarim Ghazi, Amir Khalil ur Rehman

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This study examines the factors which influence and contribute towards the financial viability of Islamic finance and its impact on global financial stability. However, the purpose of this paper is to differentiate the practical implications of both Islamic and conventional finance on global financial stability. The Islamic finance is asset backed financing which creates wealth through trade, commerce and believes in risk and return sharing. Islamic banking is asset driven as against to conventional banking which is liability driven. In order to introduce new financial products for market, financial innovation in Islamic finance must be within the Shari’ah parameters that are tested against the ‘Maqasid al-Shari’ah’. Interest-based system leads to income and wealth inequalities and mis-allocation of resources. Moreover, this system has absence of just and equitable aspect of distribution that may exploit either the debt holder or the financier. Such implications are reached to a tipping point that leaves only one choice: change or face continued decline and misery.

Keywords: viability, global financial stability, practical implications, asset driven, tipping point

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Authors: Yongseok Kwon, Woowon Jeong, Eunjin Cho, Sangkug Chung, Kyehan Rhee

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Steady streaming flow fields induced by a 500 um bubble oscillating at 12 kHz were measured using microscopic particle image velocimetry (PIV). The accuracy of velocity measurement using a micro PIV system was checked by comparing the measured velocity fields with the theoretical velocity profiles in fully developed laminar flow. The steady streaming flow velocities were measured in the saggital plane of the bubble attached on the wall. Measured velocity fields showed upward jet flow with two symmetric counter-rotating vortices, and the maximum streaming velocity was about 12 mm/s, which was within the velocity ranges measured by other researchers. The measured streamlines were compared with the analytic solution, and they also showed a reasonable agreement.

Keywords: oscillating bubble, particle image velocimetry, microstreaming, vortices,

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Authors: Mandip Singh

Abstract:

Quantum entanglement plays a fundamental role in our understanding of counter-intuitive aspects of quantum reality. If classical physics is an approximation of quantum physics, then quantum entanglement should persist at a macroscopic scale. In this paper, a thought experiment is presented where a free falling spin polarized Bose-Einstein condensate interacts with a quantum superimposed magnetic field of nonzero gradient. In contrast to the semiclassical Stern-Gerlach experiment, the magnetic field and the spin degrees of freedom both are considered to be quantum mechanical in a generalized scenario. As a consequence, a Bose-Einstein condensate can be prepared at distinct locations in space in a sense of quantum superposition. In addition, the generation of Schrodinger-cat like quantum states shall be presented.

Keywords: Schrodinger-cat quantum states, macroscopic entanglement, macroscopic quantum fields, foundations of quantum physics

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Authors: Dirk V. H. K. Franco

Abstract:

For many of us a lot of phenomena are considered a risk. Examples are: climate change, decrease of biodiversity, amount of available, clean water and the decreasing variety of living organism in the oceans. On the other hand a lot of people perceive the following trends as catastrophic: the sea level, the melting of the pole ice, the numbers of tornado’s, floods and forest fires, the national security and the potential of 192 million climate migrants in 2060. The interest for climate, health and the possible solutions is large and common. The 5th IPCC states that the last decades especially human activities (and in second order natural emissions) have caused large, mainly negative impacts on our ecological environments. Chris Stringer stated that we represent, nowadays after evolution, the only one version of the possible humanity. At this very moment we are faced with an (over) crowded planet together with global climate changes and a strong demand for energy and material resources. Let us hope that we can counter these difficulties either with better application of existing technologies or by inventing new (applications of) clean technologies together with new business models.

Keywords: clean technologies, catastrophic, climate, possible solutions

Procedia PDF Downloads 469

Authors: Lee Artz

Abstract:

This presentation outlines US media frames of recent interventions in Iraq, Afghanistan, and Syria and their impact on global media and public discourse. A content analysis of sources, descriptors, and contexts of leading US media (AP, New York Times, Fox News) finds that news coverage highlights terrorism, justifies military action, and downplays the human costs. These media frames that normalize intervention also omit coverage of the environmental consequences of war, with scant or no reporting on pollution, destruction and contamination of agricultural infrastructures and the difficulty of any environmentally sustainable recovery. A content analysis of leading European and Middle East media (Daily Mail, Le Monde, Deutsch Welle, Al Jazeera) indicates that they have adopted the same reporting practices, frames, and techniques resulting in a hybrid, yet homogeneous, increasingly global news environment that does a disservice to the public interest and democracy.

Keywords: conflict, environment, media framing, public interest

Procedia PDF Downloads 171