Search results for: bank erosion

Authors: Lidia Sanchis-Marco, Antonio Rubia

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In this paper we analyze the state-dependent risk-spillover in different economic areas. To this end, we apply the quantile regression-based methodology developed in Adams, Füss and Gropp approach to examine the spillover in conditional tails of daily returns of indices of the banking industry in the US, BRICs, Peripheral EMU, Core EMU, Scandinavia, the UK and Emerging Markets. This methodology allow us to characterize size, direction and strength of financial contagion in a network of bilateral exposures to address cross-border vulnerabilities under different states of the economy. The general evidence shows as the spillover effects are higher and more significant in volatile periods than in tranquil ones. There is evidence of tail spillovers of which much is attributable to a spillover from the US on the rest of the analyzed regions, specially on European countries. In sharp contrast, the US banking system show more financial resilience against foreign shocks.

Keywords: spillover effects, Bank Contagion, SDSVaR, expected shortfall, VaR, expectiles

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Authors: Farnaz Farzadnia, Ahmad Alibabaei

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Enterprise Resource Planning (ERP) systems are considered as complicated information systems. Many organizations failed implementing ERP systems because it is a very difficult, time-consuming and expensive process. Enterprise resource planning system is appropriate for organizations in all economic sectors. As banking is currently considered a non-typical area for ERP usage, there are very little studies on ERP implementation in banking. This paper presents a general risks taxonomy. In this research, after identifying implementation risks, a process quality management method has been applied to identify relations between risks of implementation ERP in banking sectors and implementation phases. Oracle application implementation method titled as AIM used in this research for classifying the risks. These findings will help managers to develop better strategies for supervising and controlling ERP implementation projects.

Keywords: AIM implementation, bank, enterprise resource planning, risk, process quality management method

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Authors: Kingsley Nnaemeka Ogbu, Constantine Mbajiorgu

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Vegetation has a marked effect on runoff and has become an important component in hydrologic model. The watershed Resources Management (WRM) model, a process-based, continuous, distributed parameter simulation model developed for hydrologic and soil erosion studies at the watershed scale lack a crop growth component. As such, this model assumes a constant parameter values for vegetation and hydraulic parameters throughout the duration of hydrologic simulation. Our approach is to develop a crop growth algorithm based on the original plant growth model used in the Environmental Policy Integrated Climate Model (EPIC) model. This paper describes the development of a single crop growth model which has the capability of simulating all crops using unique parameter values for each crop. Simulated crop growth processes will reflect the vegetative seasonality of the natural watershed system. An existing model was employed for evaluating vegetative resistance by hydraulic and vegetative parameters incorporated into the WRM model. The improved WRM model will have the ability to evaluate the seasonal variation of the vegetative roughness coefficient with depth of flow and further enhance the hydrologic model’s capability for accurate hydrologic studies.

Keywords: runoff, roughness coefficient, PAR, WRM model

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Authors: Mohamed Elhakeem, A. N. Thanos Papanicolaou, Christopher Wilson, Yi-Jia Chang

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In this study, a physically-based, modelling framework was developed to predict saturated hydraulic conductivity (KSAT) dynamics in the Clear Creek Watershed (CCW), Iowa. The modelling framework integrated selected pedotransfer functions and watershed models with geospatial tools. A number of pedotransfer functions and agricultural watershed models were examined to select the appropriate models that represent the study site conditions. Models selection was based on statistical measures of the models’ errors compared to the KSAT field measurements conducted in the CCW under different soil, climate and land use conditions. The study has shown that the predictions of the combined pedotransfer function of Rosetta and the Water Erosion Prediction Project (WEPP) provided the best agreement to the measured KSAT values in the CCW compared to the other tested models. Therefore, Rosetta and WEPP were integrated with the Geographic Information System (GIS) tools for visualization of the data in forms of geospatial maps and prediction of KSAT variability in CCW due to the seasonal changes in climate and land use activities.

Keywords: saturated hydraulic conductivity, pedotransfer functions, watershed models, geospatial tools

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Authors: Vinko Vidučić, Ljiljana Vidučić, Damir Boras

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The goals of the research include the determination of the characteristics of SMEs finance in Croatia, as well as the determination of indirect growth rates of the information model of the entrepreneurs` perception of business environment. The research results show that cost of finance and access to finance are most important constraining factor in setting up and running the business of small entrepreneurs in Croatia. Furthermore, small entrepreneurs in Croatia are significantly dissatisfied with the administrative barriers although relatively to a lesser extent than was the case in the pre-crisis time. High collateral requirement represents the main characteristic of bank lending concerning SMEs followed by long credit elaboration process. Formulated information model has defined the individual impact of indirect growth rates of the remaining variables on the model’s specific variable.

Keywords: business environment, information model, indirect growth rates, SME finance

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Authors: Pál Mészáros

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The aim of this research topic is to examine civil law consequences caused by crimes committed in the digital space. During the commission of certain crimes, not only the rights of one person are violated, but also the rights of an entire institution, for example, if the information system of a university is attacked. The consequences of these crimes committed in the digital space may also be that the victim himself is liable to other third parties, for example, in the event that health data comes into the possession of unauthorized persons, and it can be proved that the service provider's IT system was inadequate. An interesting question may also be the civil liability of credit institutions if someone becomes a victim of fraud but is not expected from him/her to notice the fraud. In such a case, the liability of the credit institution may arise if they do not respond in time in the case of unauthorized bank transactions. Based on the above, the main topic of the research is the civil liability of the victim, or another person or company related to the victim in the case of damages caused by crimes.

Keywords: civil liability, digital crimes, transfer of responsibility, civil law

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Authors: Nadir Sidiqi

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Biodiversity conservation is humanity’s building block to sustain lives - ultimately allowing all living and nonliving creatures to interact in a balanced proportion. Humanity’s challenge in the 21st century is to maintain biodiversity without harming the natural habitat of plants, animals and beneficial microorganisms. There are many good reasons to consider why biodiversity is important to every nation around the world, especially for a nation like Afghanistan. One of the major values of biodiversity is its economic value: biodiversity provides goods and services to the Afghan nation directly through links and components such as the maintenance of traditional crops, medicine, fruits, animals, grazing, fuel, timber, harvesting, fishing, hunting and related supplies. Biodiversity is the variety of the living components, such as humans, plants, animals, and microorganisms, and nonliving components interaction, including air, water, sunlight, soil, humidity and environmental factors in an area. There are many ways of gauging the value of biodiversity. As an ecosystem, biodiversity includes such benefits as soil fertility, erosion control, crop pollination, crop rotation, and pest control. The conservation of biodiversity is crucial for these benefits, which would be impossible to replace. Biodiversity conservation also has heritage values; this wealth of genetic diversity provides backup to rural people living close together.

Keywords: Afghanistan, biodiversity, conservation, economy, environment

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Authors: Lin Ji

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The 1923 HSBC Building is one of the landmarks of Shanghai's Bund complex and is described as "one of the finest buildings from the Suez Canal to the Bering Strait". Mr George Leopold Wilson of Palmer&Turner and his design team combine the latest British design taste with Chinese elements and bring the high standard of London manufacturing to Shanghai. This paper reviews the establishment background and construction process of the Hongkong and Shanghai Bank Corporation in Shanghai, and analyzes the characteristics of various styles and ornament of HSBC. At the same time, using the research method of iconography, compared with Britain's exploration of modern design mode in the early 20th century, we can deeply understand how this "monument of world commerce and prosperity" realizes the identity construction of its financial empire in the Far East in the perfect combination of practicality and artistry.

Keywords: early 20-century Shanghai, the bund, the HSBC building, classical styles, ornament, identity construction

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Authors: P. Lalitha

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Economic and social empowerment and educational upliftment of socially disadvantaged groups and marginalized sections of society is necessary for achieving faster and more inclusive development. Programmes are being implemented through states, government’s apex corporations, and NGOs for the up-liftment of disadvantaged and marginalized sections of society. As per the primary data collected, a majority of tribal land holdings (60%) are below 2 hectare and only 5% are above 10 hectares. However, the ownership of large holdings does not give a distinct advantage unless the land is of good quality. There are areas in which even large holdings beyond 5 hectares are not sufficient to meet the food necessity of the tribal families all-round the year. Some initiatives e.g. grain-golas, jhum cultivation, wadi project, Joint Forest Management(JFM), enhancing Livelihood and Health through Traditional Knowledge Management, Associating Individual Rural Volunteers (IRVs) in SHG Bank Linkage Programme have been taken in various tribal areas of the country.

Keywords: tribals, unemployment, health, food

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Authors: Helen Sanders, Joshua Cousins

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The purpose of this study is to ascertain whether riparian buffer strips could be used to reduce Escherichia Coli (E. coli) runoff into streams in Central New York. Mainstream methods currently utilized to reduce E. coli runoff include fencing and staggered fertilizing plans for agriculture. These methods still do not significantly limit E. coli and thus, pose a serious health risk to individuals who swim in contaminated waters or consume contaminated produce. One additional method still in research development involves the planting of vegetated riparian buffers along waterways. Currently, riparian buffer strips are primarily used for filtration of nitrate and phosphate runoff to slow erosion, regulate pH and, improve biodiversity within waterways. For my research, four different stream sites were selected for the study, in which rainwater runoff was collected at both the riparian buffer and the E. coli sourced runoff upstream. Preliminary results indicate that there is an average 70% decrease in E. coli content in streams at the riparian buffer strips compared to upstream runoff. This research could be utilized to include vegetated buffer planting as a method to decrease manure runoff into essential waterways.

Keywords: Escherichia coli, riparian buffer strips, vegetated riparian buffers, runoff, filtration

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Authors: Francisca Anene

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Studies indicate that gender equality and corruption are negatively correlated. This has been attributed to two opposing arguments - 'fairer-sex' and 'fairer-system'. Though there is no agreement on the reason for the correlation, it has been suggested that gender equality can be actively pursued as a means of combating corruption and instituting good governance in countries perceived to be more corrupt. This paper explores the relationship between gender, corruption and good governance in Nigeria. With the aid of secondary empirical data from various sources including Transparency International Corruption Perceptions Index, World Values Survey, World Bank Enterprise Survey and Afrobarometer, a correlation is established between gender and corruption and the causative factors are explored in the Nigerian context. On the basis of the above, the paper demonstrates that though a numerical increase of women in leadership/influence may result in the achievement of gender equality in Nigeria, true equality must go beyond numbers if it is to be used as a means for instituting good governance.

Keywords: corruption, gender equality, good governance, Nigeria

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Authors: Cheng Fang Hsu

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Call center is the core of building customer relationship management system. Under the strong competitive stress, it becomes a new profiting challenge for a successful enterprise. Call center is a department not only to provide customer service but also to bring business profit. This is the qualitative case study in Taiwan bank service industry which goes on deeper exploration, and analysis by business interviews and industrial analysis. This study starts from the establishment, development, and management after the reforming of the case call center. Through SWOT analysis, and industrial analysis, this study adopted 7S model to explain how the call center reforms from service oriented to profit oriented and from cost management to profit management. The results indicated how service innovation management promotes call center to be operated as a market profit competition center. The recommendations are indicated to support the call center on marketing profit by service innovation management.

Keywords: call center, 7S model, service innovation management, bioinformatics

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Authors: Mounira Laabidi, Rafik Zayani, Ridha Bouallegue, Daniel Roviras

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The Filter Bank multicarrier with Offset Quadrature Amplitude Modulation (FBMC-OQAM) has been introduced to overcome the poor spectral characteristics and the waste in both bandwidth and energy caused by the use of the cyclic prefix. However, the FBMC-OQAM signals suffer from the high Peak to Average Power Ratio (PAPR) problem. Due to the overlapping structure of the FBMC-OQAM signals, directly applying the PAPR reduction schemes conceived for the OFDM one turns out to be ineffective. In this paper, we address the problem of PAPR reduction for FBMC-OQAM systems by suggesting a new scheme based on an improved version of Active Constellation Extension scheme (ACE) of OFDM. The proposed scheme, named Rolling Window ACE, takes into consideration the overlapping naturally emanating from the FBMC-OQAM signals.

Keywords: ACE, FBMC, OQAM, OFDM, PAPR, rolling-window

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Authors: Allan Chia, Gabriel Gervais

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The case study on FoodXervices Inc shows how businesses need to reinvent and transform themselves in order to adapt and thrive and it also features how an SME can also devote resources to CSR causes. The company, Ng Chye Mong, was set up in 1937 and it went through ups and downs and encountered several failures and successes. In the 1970’s, the management of the company was entrusted to the next generation who continued to manage and expanded the business. In early 2003, the business encountered several challenges. A pair of siblings from the next generation of the Ng family joined the business fulltime and together they set-out to transform the company into FoodXervices Inc. In 2012, they started a charity, Food Bank Singapore Pte Ltd. The authors conducted case study research involving a series of in-depth interviews with the business owner and staff. This case study is an example of how to run a business and coordinate a charity concurrently while mobilising the same resources. The uniqueness of this case is the operational synergy of both the business and charity to promote corporate responsibility causes and initiatives in Singapore.

Keywords: family-owned business, charity, corporate social responsibility, branding

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Authors: Anupam Das

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Although financial liberalization has been one of the most important policy prescriptions of international organizations like the World Bank and the IMF, the effect of financial liberalization on economic growth in developing countries is far from unanimous. Since the '80s, South Asian countries made a significant development in liberalization the financial sector. However, due to unavailability of a sufficient number of time series observations, the relationship between economic growth and financial development has not been investigated adequately. We aim to fill this gap by examining time series data of five developing countries from the South Asian region: Bangladesh, India, Pakistan, Sri Lanka, and Nepal. Applying the cointegration tests and Granger causality within the vector error correction model (VECM), we do not find unanimous evidence of financial development on positive economic growth. These results are helpful for developing countries which have been trying to liberalize the financial sector in recent decades.

Keywords: economic growth, financial development, Granger causality, South Asia

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Authors: Baobao Li

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Operational risk covers all operations of commercial banks and has a close relationship with the bank’s internal control. But in the commercial banks' management practice, internal control is always separated from the operational risk measurement. With the increasing of operational risk events in recent years, operational risk is paid more and more attention by regulators and banks’ managements. The paper first discussed the relationship between internal control and operational risk management and used CVaR-POT model to measure operational risk, and then put forward a modified measurement method (to use operational risk assessment results to modify the measurement results of the CVaR-POT model). The paper also analyzed the necessity and rationality of this method. The method takes into consideration the influence of internal control, improves the accuracy and effectiveness of operational risk measurement and save the economic capital for commercial banks, avoiding the drawbacks of using some mainstream models one-sidedly.

Keywords: commercial banks, internal control, operational risk, risk measurement

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Authors: T. Bouchabchoub, A. Bendahmane, A. Haouriqui, N. Attou

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This paper presents simulation results of Forex predicting model equations in order to give approximately a prevision of interest rates. First, Hall-Taylor (HT) equations have been used with Taylor rule (TR) to adapt them to European and American Forex Markets. Indeed, initial Taylor Rule equation is conceived for all Forex transactions in every States: It includes only one equation and six parameters. Here, the model has been used with Hall-Taylor equations, initially including twelve equations which have been reduced to only three equations. Analysis has been developed on the following base macroeconomic variables: Real change rate, investment wages, anticipated inflation, realized inflation, real production, interest rates, gap production and potential production. This model has been used to specifically study the impact of an inflation shock on macroeconomic director interest rates.

Keywords: interest rate, Forex, Taylor rule, production, European Central Bank (ECB), Federal Reserve System (FED).

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Authors: T. Garba, T. O. Quddus, Y. Y. Babanyara, M. A. Modibbo

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Desertification is define as the changing of productive land into a desert as the result of ruination of land by man-induced soil erosion, which forces famers in the affected areas to move migrate or encourage into reserved areas in search of a fertile land for their farming activities. This study therefore used remote sensing imageries to determine the level of changes in the vegetative areas. To achieve that Normalized Difference of the Vegetative Index (NDVI), classified imageries and image slicing derived from landsat TM 1986, land sat ETM 1999 and Nigeria sat 1 2007 were used to determine changes in vegetations. From the Classified imageries it was discovered that there a more natural vegetation in classified images of 1986 than that of 1999 and 2007. This finding is also future in the three NDVI imageries, it was discovered that there is increased in high positive pixel value from 0.04 in 1986 to 0.22 in 1999 and to 0.32 in 2007. The figures in the three histogram also indicted that there is increased in vegetative areas from 29.15 Km2 in 1986, to 60.58 Km2 in 1999 and then to 109 Km2 in 2007. The study recommends among other things that there is need to restore natural vegetation through discouraging of farming activities in and around the natural vegetation in the study area.

Keywords: vegetative index, classified imageries, change detection, landsat, vegetation

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Authors: P. O. Eniola, S. O. Odebode

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Charcoal production constitutes serious environmental problems to most developing countries of the world. Hence, the study assessed perceived environmental effects of charcoal production (CP) among the rural dwellers in rainforest and guinea savannah (GS) zones of Nigeria. Multi-stage sampling procedure was used to select 83 and 85 charcoal producers in GS and rainforest zones respectively. Eighteen statements on perceived environmental effects of charcoal production were collected. Data was collected through the use of structured interview schedule and analysed using both descriptive and inferential statistics. Descriptive analysis showed that the mean age was 43 years, 90.5% males, 90.6% married and 35.3% of respondents had no formal education. The majority (80.0%) of the respondents make use of earth mound method of CP and 52.9% of respondents produced between 32-32000kg of charcoal per annum. Respondents (62.7%) perceived that charcoal production could lead to erosion, 62.4% reduce the available trees for future use (62.4%) and reduce available air in the environment (54.1%). A significant difference existed in the perceived environmental effects of charcoal production between rainforest and guinea savannah agro-ecological zones (F=14.62). There is a need for the government to quickly work on other available and affordable alternative household energy sources.

Keywords: deforestation, energy, earth mound method, environment

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Authors: Ying Chen

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Conservation Agriculture in a sustainable way of farming, as it brings many benefits, such as preventing soil from erosion and degradation, improving soil health, conserving energy, and sequestrating carbon. However, adoption of conservation agriculture has been progressing slowly in some part of the world due to some challenges. Among them, seeding in heavy crop residue is challenging, especially in corn production systems. Weed control is also challenging in conservation agriculture. This research aimed to investigate some technologies that can address these challenges. For crop residue management, vertical tillage and vertical seeding have been studied in multiple research projects. Results showed that vertical tillage and seeding were able to deal with crop residue through cutting residue into small segments, which would not plug seeder in the sub-sequent seeding. Vertical tillage is a conservation tillage system, as it leaves more than 30% crop residue on soil surface while incorporating some residue into the shallow soil layer for fast residue decomposition. For weed control, mechanical weeding can reduce chemical inputs in crop production. A tine weeder was studied for weed control during the early growing season of several field crops (corn, soybean, flax, and pea). Detail results of these studies will be shared at the conference.

Keywords: tillage, seeding, mechanical weeding, crop residue

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Authors: Mike Tsionas

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The paper develops new indices of financial stability based on an explicit model of expected utility maximization by financial institutions subject to the classical technology restrictions of neoclassical production theory. The model can be estimated using standard econometric techniques, like GMM for dynamic panel data and latent factor analysis for the estimation of co-variance matrices. An explicit functional form for the utility function is not needed and we show how measures of risk aversion and prudence (downside risk aversion) can be derived and estimated from the model. The model is estimated using data for Eurozone countries and we focus particularly on (i) the use of the modeling approach as an “early warning mechanism”, (ii) the bank- and country-specific estimates of risk aversion and prudence (downside risk aversion), and (iii) the derivation of a generalized measure of risk that relies on loan-price uncertainty.

Keywords: financial stability, banking, expected utility maximization, sub-prime crisis, financial crisis, eurozone, PIIGS

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Authors: Udeh Anastasia Ifeoma

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The need to develop the rural areas in developing countries where there have been decades of neglect are on the increase. It is against this background that this paper examined the impact of micro finance contribution to Nigeria’s gross domestic product. Time series data for 12-years period 1999-2010 were collated from Central Bank of Nigeria published annual reports. The least squares (LS) regression was used to analyze the data. The result revealed that microfinance activities have negative and non-significant contribution to gross domestic product in Nigeria. The paper recommends that rural poverty is often a product of poor infrastructural facilities; therefore government should make a conscious effort towards industrializing the rural areas thereby motivating the micro finance institutions to locate their offices and extend credit facilities to rural areas thereby improving rural economic growth.

Keywords: microfinance, rural economic growth, Nigeria, developing countries

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Authors: Olivier Delage, Thierry Portafaix, Hassan Bencherif, Guillaume Guimbretiere

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Most observation data sequences in geophysics can be interpreted as resulting from the interaction of several physical processes at several time and space scales. As a consequence, measurements time series in geophysics have often characteristics of non-linearity and non-stationarity and thereby exhibit strong fluctuations at all time-scales and require a time-frequency representation to analyze their variability. Empirical Mode Decomposition (EMD) is a relatively new technic as part of a more general signal processing method called the Hilbert-Huang transform. This analysis method turns out to be particularly suitable for non-linear and non-stationary signals and consists in decomposing a signal in an auto adaptive way into a sum of oscillating components named IMFs (Intrinsic Mode Functions), and thereby acts as a bank of bandpass filters. The advantages of the EMD technic are to be entirely data driven and to provide the principal variability modes of the dynamics represented by the original time series. However, the main limiting factor is the frequency resolution that may give rise to the mode mixing phenomenon where the spectral contents of some IMFs overlap each other. To overcome this problem, J. Gilles proposed an alternative entitled “Empirical Wavelet Transform” (EWT) which consists in building from the segmentation of the original signal Fourier spectrum, a bank of filters. The method used is based on the idea utilized in the construction of both Littlewood-Paley and Meyer’s wavelets. The heart of the method lies in the segmentation of the Fourier spectrum based on the local maxima detection in order to obtain a set of non-overlapping segments. Because linked to the Fourier spectrum, the frequency resolution provided by EWT is higher than that provided by EMD and therefore allows to overcome the mode-mixing problem. On the other hand, if the EWT technique is able to detect the frequencies involved in the original time series fluctuations, EWT does not allow to associate the detected frequencies to a specific mode of variability as in the EMD technic. Because EMD is closer to the observation of physical phenomena than EWT, we propose here a new technic called EAWD (Empirical Adaptive Wavelet Decomposition) based on the coupling of the EMD and EWT technics by using the IMFs density spectral content to optimize the segmentation of the Fourier spectrum required by EWT. In this study, EMD and EWT technics are described, then EAWD technic is presented. Comparison of results obtained respectively by EMD, EWT and EAWD technics on time series of ozone total columns recorded at Reunion island over [1978-2019] period is discussed. This study was carried out as part of the SOLSTYCE project dedicated to the characterization and modeling of the underlying dynamics of time series issued from complex systems in atmospheric sciences

Keywords: adaptive filtering, empirical mode decomposition, empirical wavelet transform, filter banks, mode-mixing, non-linear and non-stationary time series, wavelet

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Authors: Rute Abreu, Fátima David, Liliane Cristina Segura

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The Deposit Guarantee Fund (DGF) and its communication with the Society, in general, and with the deposit client of Financial Institutions, in particular, is discussed through the challenges of the accounting and financial report. The Bank of Portugal promotes the Portuguese Deposit Guarantee Fund (PDGF) as a financial institution that enhanced the market confidence and stability on the deposit-insurance system. Due to the nature of their functions, it must be subject to regulation and supervision that provides a first line of defense against adversely affect confidence on the Portuguese financial market. First, this research provides evidence of the effectiveness of the protection mechanisms on the deposit insurance system, which provides high and equal protection to all stakeholders. Second, it emphasizes the need of requirements of rigorous accounting process and effective financial report to reduce the moral hazard implications. Third, this research focuses on the need of total disclosure of the financial information which gives higher transparency and protection to deposit client of financial institutions.

Keywords: deposit guarantee fund, Portugal, accounting, financial report

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Authors: Ibtissam Mharzi Alaoui, Camélia Sehaqui

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The success of a bank depends upon its effective risk management. With the growing complexity and diversity of financial products and services, as well as the accelerating pace of globalization over the past decade, risk management is becoming increasingly difficult. thus, all measurement and monitoring functions must be much more vigorous, relevant and adequate. The Shariah non-compliance risk is specific aspect of Islamic finance which ipso facto, deserves particular attention. It affects the validity of all Islamic financial contracts and it turns out to be likely to result in considerable losses on the overall Islamic financial institutions (IFIs). The purpose of this paper is to review the theoretical literature on Shariah non-compliance risk in order to give a clearer understanding of its sources, causes and consequences. Our intention through this work is to bring added value to the Islamic finance industry all over the world. The findings provide a useful reference work for the Islamic banks in structuring (or restructuring) of their own system of shariah risk management and internal control.

Keywords: Shariah non-compliance, risk management, financial products, Islamic finance.

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Authors: Khondokar Farid Ahmmed, Robin Bown

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It is widely recognized that the formal financing of Small and Medium Size Enterprises (SMEs) by Private Commercial Banks (PCBs) is restricted. Due to changing financial market competition, SMEs are now important customers to PCBs in the member countries of the Asian Development Bank (ADB). Various initiatives in enhancing the efficiency of risk assessment of PCBs have failed in increasing financing accessibility in the traditional financing system where information asymmetry is a key constraint. In this circumstance, PCBs need to undertake a holistic approach. Holistic approach refers to methods that attempt to fundamentally change established traditions. To undertake holistic approach, this study intends to find the entire established financing culture between PCBs and SMEs in a new lens beyond the tradition on the basis of two basic questions: “What is the traditional lending culture between PCBs and SMEs” and “What could be potential role of PCBs to develop that culture where focusing on SME financing to PCBs". This study considered formal SME financing in Bangladesh by focusing on SMEs applying for their first loan. Bangladesh is a member country of ADB. The data collection method is semi-structured and we utilized face-to-face interviews with in-depth branch managers, higher officials and owner-managers of SME customers of PCBs and higher officials of SME Foundation and the Bangladesh central bank. Discourse analysis method was used for data analysis on the frame of thematic discussion fully based on participants’ views. The research found that branch managers and loan officers have a high level of power in assessing and financing decision-making. There is a changing attitude in PCB sector in requiring flexible collateral assets. Branch managers (Loan Officers) consider value of business prospect of owner-mangers as complementary of collateral assets. However, the study found the assessment process of business prospect is entirely unstructured and linked with socio-cultural settings that does not support PCBs’ changing manner in terms of collateral requirement. The study redefined and classified collateral assets to include all financing constructs in a structure. The degree of value of the collateral assets determines the degree of business prospects. This study suggested applying an outside classroom-learning paradigm such as “knowledge tour” to enhance the value of the kinds of collateral assets. This is the scope of PCBs in increasing SMEs’ financing eligibility in win-win basis. The findings and proposition could be effective in other ADB member countries and audiences in the field.

Keywords: CCA, financing, information asymmetry, PCA, PCB, financing

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Authors: Zhu Zhizheng, Huang Yong, Li Tong

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In the context of land and space development and resource environmental protection. Due to its special geographical location, mountain-plain transition zones are limited by many factors such as topography, mountain forest protection, etc., and their ecology is also more sensitive, with the characteristics of disaster susceptibility and resource gradient. Taking Dujiangyan City, Chengdu as an example, this paper establishes resilience evaluation indicators on the basis of ecological suitability evaluation through the analysis of current situation data and relevant policies: water conservation evaluation, soil and water conservation evaluation, biodiversity evaluation, soil erosion sensitivity evaluation, etc. Based on GIS spatial analysis, the ecological suitability and resilience evaluation results of Dujiangyan city were obtained by disjunction operation. The ecological resilience level of Dujiangyan city was divided into three categories: high, medium and low, with an area ratio of 50.81%, 16.4% and 32.79%, respectively. This paper can provide ideas for solving the contradiction between man and land in the mountain-plain transition zones, and also provide a certain basis for the construction of regional ecological protection and the delineation of three zones and three lines.

Keywords: urban and rural planning, ecological resilience, dujiangyan city, mountain-plain transition zones

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Authors: Y. Karbhari, A. Benamraoui, A. Fahmi Sheikh Hassan

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The study applies role theory to investigate the quality of the compliance review in Malaysia, which is perceived to have the most advanced Islamic banking governance framework in the Islamic world. Drawing from the questionnaire survey and semi-structured interviews, our study reveals the existence of a well-established structure for compliance reviews which is found to be regulatory driven and contingent upon the level of commercial activity of individual Islamic bank’s. However, the compliance review process was found to be ceremonial and inadequately undertaken by some SBs with greater prominence placed on its advisory role. In particular, the study provides evidence of a lack of understanding on accounting issues when undertaking the compliance review. Problems in communication between SBs, board of directors and management were also reported to exist. Our findings raise concern over the quality and thus the credibility of the religious compliance assurance communicated in Islamic Banks annual reports.

Keywords: Islamic banks, religious compliance, Sharia board assurance, role theory

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Authors: Sophie Herr, Antoine Leybros, Yves Barre, Sergey Nikitenko, Rachel Pflieger

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The proportion of soil contaminated by a wide range of pollutants (heavy metals, PCBs, pesticides, etc.) of anthropogenic origin is constantly increasing, and it is becoming urgent to address this issue. Among remediation methods, soil washing is an effective, relatively fast, and widely used process. This study assesses its coupling with ultrasound: indeed, sonication induces the formation of cavitation bubbles in solution that enhance local mass transfer through agitation and particle erosion. The removal of target toxic elements Ni(II) and Zn(II) from vermiculite clay has been studied under 20 kHz ultrasound and silent conditions. Several acids were tested, and HCl was chosen as the solvent. The effects of solid/liquid ratio and particle size were investigated. Metal repartition in the clay has been followed by Tessier's sequential extraction procedure. The results showed that more metal elements bound to the challenging residual phase were desorbed with 20 kHz ultrasound than in silent conditions. This supports the promising application of ultrasound for heavy metal desorption in difficult conditions. Further experiments were performed at high-frequency US (362 kHz), and it was shown that fragmentation of the vermiculite particles is then limited, while positive effects of US in the decontamination are kept.

Keywords: desorption, heavy metals, ultrasound, vermiculite

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Authors: Farhin Delawala

Abstract:

In the context of Palestine and the broader Middle East, this study delves into the Apartheid regime in Palestine, the country under occupation, and the intricate ties between the United States of America (USA) and the settler colony of ‘Israel’. The paper provides an explanation of the colonisation of Palestine as well as the forms of Apartheid. Moreover, it explains the provisions of United Nations (UN) international laws and how they have been broken by the settler colony of ‘Israel’. The paper contends that the US, motivated by its security interests in the region, has strategically influenced the political instability in the Middle East and the illegal occupation of Palestine. Furthermore, this paper proposes an alternative path of a one-state solution to foster a more peaceful and stable society and advocates for the integration of the Palestinian population into the region, from Gaza and the West Bank, under equal citizen rights. Thereby, the ethno-theocratic nature of the settler colony as an ethno-theocratic state is dismantled.

Keywords: apartheid, one-state solution, Palestine, political instability, settler colony

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