Search results for: loan repayment

Authors: Jair Servín-Aguilar, Yu Tang

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We address the problem of robust attitude tracking for agile satellites under unknown bounded torque disturbances using a double-gimbal variable-speed control-moment gyro (DGVSCMG) driven by a cluster of three permanent magnet synchronous motors (PMSMs). Uniform practical asymptotic stability is achieved at the torque control level first. The desired speed of gimbals and the acceleration of the spin wheel to produce the required torque are then calculated by a velocity-based steering law and tracked at the PMSM speed-control level by designing a speed-tracking controller with compensation for the vibration caused by eccentricity and imbalance due to mechanical imperfection in the DGVSCMG. Uniform practical asymptotic stability of the overall system is ensured by loan relying on the analysis of the resulting cascaded system. Numerical simulations are included to show the performance improvement of the proposed controller.

Keywords: agile satellites, vibration compensation, internal model, stability

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Authors: Hiba Mezaache

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The study aims to assess the financial and social efficiency of microfinance institutions in india for the period 2015-2019 by using two models of economies of scale and choosing the output direction of the data envelope analysis (DEA) method and using the MIX MARKET database. The study concluded that microfinance institutions focus on achieving financial efficiency beyond their focus on achieving social efficiency to ensure their continuity in the market. Convergence in the efficiency ratios that have been achieved, but the optimum ratios have been achieved under the changing economies of scale; Efficiency is affected by the depth of reaching low-income groups, as serving this group raises costs and risks. The importance of lending to women in rural areas and raising their awareness to ensure their financial and social empowerment; Make improvements in operating expenses, asset management, and loan personnel control in order to maximize output.

Keywords: microfinance, financial efficiency, social efficiency, mix market, microfinance institutions

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Authors: Ali Ashraf Hamedi Oghul Beyk

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The main objective of the study is to determine the factors which influence the acceptance or rejection of rural livestock insurance in Garmsar. The research method is descriptive one. There are two groups of research populations: 1467 cases in acceptance group and 7000 cases in rejection group. The sample population is 320 cases among 8467 ones. Data collection instrument is questionnaire. The validity of the questionnaire was measured by faculty members and other agriculture experts and also reliability of it determined through Cronbach alpha which was %83. Correlation between acceptance and rejection of investigated population. According to the findings of the research, between educational level, basic income from farm-related communication channels, contacts of experts and acceptance and rejection of livestock insurance at %5 & the mortality rate, loan awareness of the objectives of the livestock insurance benefits %1 there is a meaningful relationship. Mann-Whitney test shows the different educational levels, different awareness and interest to livestock insurance between the two groups. Besides, the T-test shows the livestock losses rate in two groups.

Keywords: insurance, livestock, Garmsar, Semnan

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Authors: Yothin Sawangdee, Piyawat Katewongsa, Chutima Yousomboon, Kornkanok Pongpradit, Sakapas Saengchai, Phusit Khantikul

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Debts reconstruction under some of moratorium projects is one of important method that highly benefits to both the Banks and farmers. The method can reduce probabilities for nonprofits loan. This paper discuss about debts reconstruction and career development training for farmers in Thailand between 2011 and 2013. The research designed is mix-method between quantitative survey and qualitative survey. Sample size for quantitative method is 1003 cases. Data gathering procedure is between October and December 2013. Main results affirmed that debts reconstruction is needed. And there are numerous benefits from farmers’ career development training. Many of farmers who attend field school activities able to bring knowledge learned to apply for the farms’ work. They can reduce production costs. Framers’ quality of life and their household well-being also improve. This program should apply in any countries where farmers have highly debts and highly risks for not return the debts.

Keywords: career development, debts reconstruction, farmers household well-being, Thailand

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Authors: Benjamin Anabaraonye, Okafor Joachim Chukwuma, Olamire James

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The impacts of climate change are greatly felt on Nigeria’s agricultural sector which in turn affects the economy of the nation. There is an urgent need to educate farmers and fishermen in rural areas in Nigeria on climate change adaptation and mitigation for sustainable development. Through our literature and participant observation, it has been discovered that many farmers and fishermen in rural areas in Nigeria have little or no knowledge about climate change adaptation and mitigation. This paper seeks to draw the attention of policy makers in government, private sectors, non-governmental organizations and interested individuals to the need to seek for innovative ways of educating farmers and fishermen in rural areas about climate change adaptation and mitigation for global sustainability. This study also explores the effective methods of bridging the communication gaps through efficient information dissemination, intensive awareness outreach, use of climate change poems and blogs, innovative loan scheme to farmers and fishermen, etc. to help ensure that farmers and fishermen in rural areas in Nigeria are adequately educated about climate change adaptation and mitigation for global sustainability.

Keywords: agriculture, climate change, farmers, fishermen

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Authors: Karolína Vozková, Matěj Kuc

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Net fee and commission income is one of the key elements of a bank’s core income. In the current low-interest rate environment, this type of income is gaining importance relative to net interest income. This paper analyses the effects of bank and country specific determinants of net fee and commission income on a set of cooperative banks from European countries in the 2007-2014 period. In order to do that, dynamic panel data methods (system Generalized Methods of Moments) were employed. Subsequently, alternative panel data methods were run as robustness checks of the analysis. Strong positive impact of bank concentration on the share of net fee and commission income was found, which proves that cooperative banks tend to display a higher share of fee income in less competitive markets. This is probably connected with the fact that they stick with their traditional deposit-taking and loan-providing model and fees on these services are driven down by the competitors. Moreover, compared to commercial banks, cooperatives do not expand heavily into non-traditional fee bearing services under competition and their overall fee income share is therefore decreasing with the increased competitiveness of the sector.

Keywords: cooperative banking, dynamic panel data models, net fee and commission income, system GMM

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Authors: Noorhaslinda Kulub Abd. Rashid, Zuraini Anang, Bayu Taufiq Possumah, Suriyani Muhamad, Fauziah Abu Hasan, Hairunnizam Wahid

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Reality of Malaysian lives today, especially the households, are not exempted from using a variety of good products and services that are particularly materialistic. In fact, the pace and sophistication of the technology is seen as a major catalyst to the pattern of community life. In facing the challenges of the current economy, the key role to be played by household is managing the pattern of expenditure, income and loan debts regularly and blessed by Allah. Unfortunately, the world today is witnessing the average household could owe solely to meet their needs with existing spending limits. This study aims to measure the ‘Religious Index of Household Expenditure’ (IKM) and analyze how far the religious influence to the pattern of household expenditure based on the 441 Muslim households. The results showed only a 5-item spending, food, housing, transportation, education, and recreation and entertainment that has a significant relationship with IKM. Therefore, Islamic consumer education is a must to establish sustainable consumptions in order to speed up the internalization of sustainable lifestyle among Malaysians.

Keywords: ‘Religious Index of Household Expenditure’ (IKM), income, sustainable consumptions, household expenditure

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Authors: Temitope Adewale, Oladapo Raji

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The study was designed to investigate the assessment of women's involvement in fishing. In order to give the study a direction, five research questions, as well as two hypotheses, were postulated, and a total of fifty (50) respondents each were selected from two local government areas for the study. This brings a total of one hundred (100) respondents selected from these local government areas in Lagos state. The outcome of the finding indicates that the percentage of the respondents’ age, 49% was between 31 and 35 years, 56% has a working experience of 6-10 years, 61% were married, 69% had secondary education as their educational level. However, findings show that socio-economic characteristics (x2 =15.504, df=6, p < 0.05) and income (r=0.83, p < 0.05) have a significant relationship on the fishing. It was established that the Women in Fish production/processing were faced with a lot of constraints such as high cost of inputs, inadequate electricity supply, lack of adequate capital, non-availability of the improved oven, non-availability of extension agents, inadequate fish landing, lack of transportation facilities, lack of training on financial management and loan acquisition which affected the level of output of women in Fish processing adversely.

Keywords: women, fishing, agriculture, Lagos

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Authors: Watchareeporn Chaimongkol

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In this paper, we compare the statistical measures accuracy of composite forecasting model to estimate automobile customer demand in Thailand. A modified simple exponential smoothing and autoregressive integrate moving average (ARIMA) forecasting model is built to estimate customer demand of passenger cars, instead of using information of historical sales data. Our model takes into account special characteristic of the Thai automobile market such as sales promotion, advertising and publicity, petrol price, and interest rate for loan. We evaluate our forecasting model by comparing forecasts with actual data using six accuracy measurements, mean absolute percentage error (MAPE), geometric mean absolute error (GMAE), symmetric mean absolute percentage error (sMAPE), mean absolute scaled error (MASE), median relative absolute error (MdRAE), and geometric mean relative absolute error (GMRAE).

Keywords: composite forecasting, simple exponential smoothing model, autoregressive integrate moving average model selection, accuracy measurements

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Authors: Brian Tung, Yam Wing Siu, Tsun Se Cheong

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Purpose: This research aims to explore how personal and environmental factors, especially the socio-economic changes and behavioral changes fostered by the COVID-19 outbreak pandemic, affect the financial vulnerability of a specific segment of people in financial distress. Innovative research methodology of machine learning will be applied to data collected from over 300 local individuals in Hong Kong seeking counseling or similar services in recent years. Results: First, machine learning has found that too much exposure to digital services and information on digitized services may lead to adverse effects on respondents’ financial vulnerability. Second, the improvement in financial literacy level provides benefits to the financially vulnerable group, especially those respondents who have started with a lower level. Third, serious addiction to digital technology can lead to worsened debt servicing ability. Machine learning also has found a strong correlation between debt servicing situations and income-seeking behavior as well as spending behavior. In addition, if the vulnerable groups are able to make appropriate investments, they can reduce the probability of incurring financial distress. Finally, being too active in borrowing and repayment can result in a higher likelihood of over-indebtedness. Conclusion: Findings can be employed in formulating a better counseling strategy for professionals. Debt counseling services can be more preventive in nature. For example, according to the findings, with a low level of financial literacy, the respondents are prone to overspending and unable to react properly to the e-marketing promotion messages pop-up from digital services or even falling into financial/investment scams. In addition, people with low levels of financial knowledge will benefit from financial education. Therefore, financial education programs could include tech-savvy matters as special features.

Keywords: personal finance, digitization of the economy, COVID-19 pandemic, addiction to digital technology, financial vulnerability

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Authors: Abm Mostafa, Rumbidzai Mukono, Peijie Wang

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Using 285 respondents from two microfinance institutions, this research aims to assess the impact of microfinance on women’s economic empowerment in Bangladesh. Empirical measures of economic empowerment used in this paper are underpinned by a bargaining theory of household. Questionnaire is used for data collection following purposive sampling. Descriptive statistics, chi-square test, Kruskal-Wallis test, binary, and ordinal logistic regressions are deployed for data analysis. The findings of this study show that around three quarters of respondents have increased household income. They have increased their savings overwhelmingly; nonetheless, many of them are found to have a very small amount of savings. Still, more than half of the respondents are reported to have increased their savings when it is checked against at least 500 BDT per month. On the contrary, the percentage of women is moderate in terms of increasing control over finances. Empirical findings demonstrate the evidence of a relationship between the amount of loan and women’s household income, their savings, and control over finances. Nonetheless, no relationship is found in women’s areas. This study infers that women’s access to financial resources is fundamental to empower them in economic dimension.

Keywords: microfinance, women, economic, empowerment, Bangladesh

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Authors: Olivier Mesly

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This article examines the likelihood of deception on the part of borrowers wishing to obtain credit from institutional or private lenders. In our first study, we identify five explanatory variables that account for nearly forty percent of the propensity to act deceitfully: a poor credit history, debt, risky behavior, and to a much lesser degree, irrational behavior and disconnection from the bundle of needs, goals, and preferences. For the second study, we remodeled the initial questionnaire to adapt it to the needs of institutional bankers and borrowers, especially those that engage in money on-line peer-to-peer lending, a growing business fueled by the COVID pandemic. We find that the three key psychological variables that help to indirectly predict the likelihood of deceitful behaviors and possible default on loan reimbursement, i.e., risky behaviors, ir-rationality, and dis-connection, interact with each other to form a loop. This study presents two benefits: first, we provide evidence that it is to some degree possible to tighten control over lending practices. Second, we offer a pragmatic tool: a questionnaire, that lenders can use or adapt to gauge potential borrowers’ deceit, notably by combining their results with standard hard-data measures of risk.

Keywords: bundle of needs, default, debt, deception, risk, peer-to-peer lending

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Authors: Nguyen Thi Loan, Phan Ngoc Thanh Tra

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Container is one of the techniques used in Eye Movement Desensitization and Reprocessing (EDMR) Therapy. This paper presents the positive results of applying Container technique to “high risk children”. The sample for this research is composed of 60 “high risk children” whose ages range from 11 to 18 years old, housed in Ho Chi Minh City Youth Center. They have been under the program of the Worldwide Orphans Foundation since August 2015 for various reasons such as, loss of parents, anti-social behaviors, homelessness, child labor among others. These “high risk children” are under high levels of stress, anxiety and depression. The subjects were divided into two groups: the control and the experimental with 30 members each. The experimental group was applied Container Technique and the instruments used to measure their levels of stress, anxiety, and depression are DASS-42 and ASEBA. Results show that after applying the Container Technique to the experimental group, there are significant differences between the two groups’ levels of stress, anxiety and depression. The experimental group’s levels of stress, anxiety and depression decreased significantly. The results serve as a basis for the researchers to make an appeal to psychologists to apply Container Technique in doing psychological treatment in a suitable context.

Keywords: anxiety, depression, container technique, EMDR

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Authors: Abolfazl Alishahi Ghalehjoughi

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Economic independence and security of Islamic world is the top priority. Economic dependence of Muslim countries on economies of non-Muslim imperialist countries results in political and cultural dependencies, and such dependencies will jeopardize the noble Islamic culture; because the will of a dependent country to implements the noble teachings of Islam would be faced with challenges. Solidarity of Muslim countries to achieve a uniformed and resistive economy-based Islamic economic system can improve ability of Islamic world to resist and counteract economic shocks produced by imperialists. Islam is the most complete religion in every aspect, from ideological and epistemological, to legislative and ethical, and economic aspect is no exception. Islam provides solutions to develop a flourishing economy for the whole Islamic nation. Knowledge of such solutions and identification of mechanisms to operationalise them in Islamic communities can highly contributed to establishment of the superior Islamic economy. Encourage of hard working, achievement and knowledge production, correction of consumption patterns, optimized management of import and export, avoiding Islamically prohibited income, economic discipline and equity, and promotion of interest free loan and the like are among the most important solutions to realize such resistive economy.

Keywords: resistive economy, cultural independence, Islam, solidarity

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Authors: Chris Adetuyi, Adeola Adeniran

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The concept of meaning is a complex one in language study when cultural features are added. This is mandatory because language cannot be completely separated from the culture in which case language and culture complement each other. When there are two varieties of a language in a society, i.e. two varieties functioning side by side in a speech community, there is a tendency to view one of the varieties with each other. There is, therefore, the need to make a linguistic comparative study of varieties of such languages. In this paper, a semantic contrastive study is made between Standard British English (SBE) and Nigerian English (NB). The semantic study is limited to aspects of semantics: semantic extension (Kinship terms, metaphors), semantic shift (lexical items considered are ‘drop’ ‘befriend’ ‘dowry’ and escort) acronyms (NEPA, JAMB, NTA) linguistic borrowing or loan words (Seriki, Agbada, Eba, Dodo, Iroko) coinages (long leg, bush meat; bottom power and juju). In the study of these aspects of semantics of SBE and NE lexical terms, conservative statements are made, problems areas and hierarchy of difficulties are highlighted with a view to bringing out areas of differences are highlighted in this paper are concerned. The study will also serve as a guide in further contrastive studies in some other area of languages.

Keywords: aspect, British, English, Nigeria, semantics

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Authors: Md. Abu Yousuf

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Islamic social financing (ISF) refers to the fair distribution of wealth and financial dealings and prevents economic exploitation at all levels. ISF instruments include Islamic institutions Zakat (obligatory charity), Sadaqah (voluntary charity) and Waqf (endowment) based on philanthropy such and Qard-al Hasan (beautiful loan), micro takaful (insurance) and social investments through Sukuk (bonds) based on cooperation. ISF contributes to socio-economic development, end poverty, protects environmental sustainability, promotes education, equality, social justice and above all, establishes social well-being since the birth of Islam. ISF tools are instrumental towards achieving sustainable development goals (SDGs) set by United Nations (UN). The present study will explore the scope of ISF for community development in Bangladesh and examine the challenges in implementing ISF tools and will provide the most practical model of ISF. The study will adopt a mixed-method (MM) design in the process of data collection and analysis. The researcher will consider all issues related to ethics, reliability, validity and feasibility while conducting the study.

Keywords: Islamic social financing, sustainable development goals, poverty eradication, zakat, waqf, sadaqah, Islamic microfinance

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Authors: Seyed Habib A. Rahmati, Parsa Fallah Sheikhlari, Morteza Musakhani

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This paper studies the structure of financial investment and efficiency on the subway would be created between Hashtgerd and Qazvin in Iran. Regarding ascending rate of transportation between Tehran and Qazvin which directly air pollution, it clearly implies to public transportation requirement between these two cities near Tehran. The railway transportation like subway can help each country to terminate traffic jam which has some advantages such as speed, security, non-pollution, low cost of public transport, etc. This type of transportation needs national infrastructures which require enormous investment. It couldn’t implement without leading and managing funds and investments properly. In order to response 'needs', clear norms or normative targets have to be agreed and obviously it is important to distinguish costs from investment requirements critically. Implementation phase affects investment requirements and financing needs. So recognizing barrier related to investment and the quality of investment (what technologies and services are invested in) is as important as the amounts of investment. Different investment methods have mentioned as follows loan, leasing, equity participation, Line of financing, finance, usance, bay back. Alternatives survey before initiation and analyzing of risk management is one of the most important parts in this project. Observation of similar project cities each country has the own specification to choose investment method.

Keywords: subway project, project investment, project contract, project management

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Authors: Jaroslav Belás, Anna Chochoľáková, Lenka Gabčová

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The aim of this article was to examine and quantify the dependence of additional purchases of banking products from customer loyalty and dependence of bank clients’ loyalty on the customers’ satisfaction. In this context, in our research from 2014, the respondents were divided into satisfied (loyal) and dissatisfied (disloyal) banking clients and their attitudes in the area of loyalty and additional purchases of banking products were compared. The differences in attitudes were examined by means of Pearson statistics. It was found out that satisfied customers compared with those dissatisfied clients significantly more advise their bank to their friends, also they often consider that they would use their bank in the future, they are more resistant to the offers from the other banks as well. Loyal customers are more interested in the services of their own banks when considering investments in the financial market, keep their savings in their own bank, take out a mortgage loan from their own bank and use other banking products and services offered by their own bank as well. According to the results of our research, with the different intensities the loyalty of customers is transforming into a potential purchase of additional banking products. The greatest potential interest of the bank customers was in keeping their own savings in the bank and mortgage loans. The intensity of interest in the purchase of financial investments and other products was relatively low.

Keywords: commercial bank, bank customers’ satisfaction, loyalty of bank clients, additional purchases of banking products and services

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Authors: Fateme Mazbanpoor, Sayed Mohammad Amiri

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In this article, we will examine the Persian words in Quran and study the reasons of their presence in this holy book. Writers of this paper extracted about 70 Persian words of Quran by referring to resources. (Alalfaz ol Moarab ol Farsieh Edishir, Almoarabol Javalighi, Almahzab va Etghan Seuti; Vocabulary involved in Quran Arthur Jeffry;, and etc…), some of these words are: ‘Abarigh, ‘Estabragh’,’Barzakh’, ‘Din’,’Zamharir, ‘Sondos’ ‘Sejil’,’ Namaregh’, ‘Fil’ etc. These Persian words have entered Arabic and finally entered Quran in two ways: 1) directly from Persian language, 2) via other languages. The first way: because of the Iranian dominance on Hira, Yemen, whole Oman and Bahrein land in Sasanian period, there were political, religious, linguistic, literary, and trade ties between these Arab territories causing the impact of Persian on Arabic; giving way to many Persian-loan words into Arabic in this period of time. The second way: Since the geographical and business conditions of the areas were dominated by Iran, Hejaz had lots of deals and trades with Mesopotamia and Yemen. On the other hand, Arabic language which was relatively a young language at that time, used to be impressed by Semitic languages in order to expand its vocabulary (Syrian and Aramaic were influenced by the languages of Iran). Consequently, due to the long relationship between Iranian and Arabs, some of the Persian words have taken longer ways through Aramaic and Syrian to find their way into Quran.

Keywords: Quran, Persian word, Arabic language, Persian

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Authors: Achmad Muchaddam Fahham, Sony Hendra Permana

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For rural communities and micro-entrepreneurs, access to formal financial institutions is very difficult. So, borrowing to moneylenders is the most possible way to fulfill their needs. But actually it does not solve their problems, precisely their problems are increasing because they have to pay at very high-interest rates. For this reason, microfinance institution is very important as a solution for rural communities and micro-entrepreneurs who need loans to fulfill their needs. This paper aims to describe the role of micro waqf banks in Indonesia as an alternative funding for rural communities and micro-entrepreneurs. This research is descriptive using a qualitative approach. The interview technique was also carried out with key informants who understood sharia microfinance institutions. The results of the study revealed that the micro waqf bank is Islamic microfinance institutions which targeted the micro business sector by channeling small financing with a maximum financing of Rp1 million. The funding of this micro waqf bank comes from donors who donate funds through the Amil Zakat institution. The margins imposed on borrowers are as high as 3 percent per year, with payment schemes in installments every week, so it is made easier for borrower. In addition, financing is followed by training and mentoring so that borrower is able to utilize the loan for productive business activities. In the end, it is hoped that this micro waqf bank can become an incubator for micro businesses in Indonesia.

Keywords: micro business, micro waqf banks, micro-entrepreneurs, Amil Zakat institution

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Authors: I. Diaz Sanchez, I. M. Martinez-Conesa, M. Illueca

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Accounting conservatism is a desirable quality of earnings that is positively associated with the stridency of regulatory and supervisory regimen and high market discipline. But how these three pillars interact each other is the main research question that is not empirically solved. We analyze how regulatory and supervisory regimes interact with the market discipline measures, such as listing status, ownership and market concentration using a sample of 14,651 bank-year observations covering 54 countries over the period 1997-2009. We evidence that regulation a supervision and extend on which they are enforcement is a strong mechanism to achieved accounting conservatism in those countries or situations where the market discipline fails. Generally, the supervisory power reinforces the effect of listing status, ownership and concentration on conservatism, while capital regulatory mitigates the effect of market discipline on conservatism. This paper may contribute to debate about the mechanism introduced by Basel III that strongly increases the regulation, his enforcement, and the supervisory power after long deregulation period. Although Market discipline is relevant to achieve the financial stability, strong Pillar I and II can ensure the quality of the accounting earnings to prevent bank failures.

Keywords: accounting conservatism, bank regulation, bank supervision, loan loss recognition, market discipline

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Authors: Muhammad Rifqi Hafizhudin Arif, Mukhamad Zulfal Faradis, Ahmad Hidayatullah

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Indonesia is the country that uses conventional financial system adopted from European countries as a form of finance in the national banking system. Many of the derivative products of conventional banks either investment, buy and sell, saving and loan, which is not in accordance with Islamic Ethics. While the majority population in Indonesia are belief in Islam, which Islam has had financial management guide is written in the Quran, the Hadith, as well as the opinions of experts who strongly prohibits the use of interest in each transaction activities. Many different expert opinions on the application of the Islamic financial system in Indonesia. However, as the majority of the population of Indonesia, Islamic community have not been able to get the opportunities to choose the Islamic financial system that has mutual benefit between consumers and banks, particularly fairness in transactions, ethical investment, uphold the values of solidarity and brotherhood in every transaction activities, and avoid speculation. In this paper, we will discuss the reasons for the importance of providing an option for Islamic community as the majority of the population of Indonesia to use the banking system which adopted the Islamic ethical values that have been much discussed by other researchers in various countries. The existence of this research is expected to Government, academia and the general public aware of the urgency of Islamic economic system implementation in Indonesian banking as the solution and justice especially for the Islamic community to use the values which they held.

Keywords: Islamic economic system, conventional system, Islamic value, banking

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Authors: Abul Hassan

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Present socio-economic context and women wellbeing in Bangladesh imposes lots of constraints on women’s involvement in income generating activities. Different studies showed that the implementation of World Bank structural adjustment policies have had mixed impacts on women and their wellbeing. By involving poor people specially women in Islamic microfinance programmes in Bangladesh are used as a tool to combat poverty. Women are specifically targeted by Islamic microfinance under the rural development scheme of Islami Bank Bangladesh that provide interest free loan to the women groups. The programme has a multiplier effect since women invest largely in their households. The aim of this research is twofold: firstly, it wanted to confirm or refute a positive link between Islamic microfinance and the socio-economic wellbeing of women in Bangladesh and secondly, to explore the context in which Islamic microfinance programs function in Bangladesh and the way their performance can be improved. Based on structured questionnaires’ survey, this study addressed two research questions: (1) What can be expected from the offer of Islamic microfinance on the welfare of recipients and (2) Under what conditions would such an offer be more beneficial. The main result of this study shows that increase in women’s income and assets played a very important role in enhancing women’s economic independence and sense of self-confidence. An important policy recommendation is that it is necessary to redirect Islamic microfinance towards diversified developmental activities that will contribute to the improvement, in the long run, of the wellbeing of the recipients.

Keywords: business model, Islamic microfinance, women’s wellbeing

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Authors: Thu Thuy Pham, Thi Chau Loan Tran, Van Duy Nguyen

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Marine fungi play an important role in the marine ecosystems. Marine fungi also supply biomass and metabolic products of industrial value. Currently, the biodiversity of marine fungi along the coastal areas of Vietnam has not yet been studied fully. The objective of this study is to assess the spatial and temporal diversity of planktonic fungi from the coastal waters of Nha Trang Bay and Van Phong Bay in Central Vietnam using culture-dependent and independent approach. Using culture-dependent approach, filamentous fungi and yeasts were isolated on selective media and then classified by phenotype and genotype based on the sequencing of ITS (internal transcribed spacers) regions of rDNA with two primer pairs (ITS1F_KYO2 and ITS4; NS1 and NS8). Using culture-independent approach, environmental DNA samples were isolated and amplified using fungal-specific ITS primer pairs. A total of over 160 strains were isolated from 10 seawater sampling stations at 50 cm depth. They were classified into diverse genera and species of both yeast and mold. At least 5 strains could be potentially novel species. Our results also revealed that planktonic fungi were molecularly diverse with hundreds of phylotypes recovered across these two bays. The results of the study provide data about the distribution and taxonomy of mycoplankton in this area, thereby allowing assessment of their positive role in the biogeochemical cycle of coastal ecosystems and the development of new bioactive compounds for industrial applications.

Keywords: biodiversity, ITS, marine fungi, Nha Trang Bay, Van Phong Bay

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Authors: Anne Crescini

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The number of loanwords borrowed into the Japanese language is increasing rapidly in recent years, and many linguists argue that loanwords make up more than 10% of the Japanese lexicon. While these loanwords come from various Western languages, 80%-90% are borrowed from English. Also, there is a separate group of words and phrases categorized as ‘Japanese English’. These made-in-Japan linguistic creations may look and sound like English, but in fact are not used by native speakers and are often incomprehensible to them. Linguistically, the important thing to remember is that these terms are not English ones, but in fact, 100% Japanese words. A problem arises in language teaching, however, when Japanese English learners are unable to distinguish authentic loans from Japanese English terms. This confusion could greatly impede language acquisition and communication. The goal of this paper is to determine to what degree this potential misunderstanding may interfere with communication. Native English speakers living in the United States were interviewed and shown a list of romanized Japanese English terms, which are both commonly used and often mistaken for authentic loans. Then, the words were put into the context of a sentence in order to ascertain if context in any way aided comprehension. The results showed that while some terms are understood on their own, and others are understood better in context, a large number of the terms are entirely incomprehensible to native English speakers. If that is the case, and a Japanese learner mistakes a Japanese English term for an authentic loan, a communication breakdown may occur during interaction in English. With the ever-increasing presence of both groups of terms in the Japanese language, it is more important than ever that teaching professionals address this topic in the language classroom.

Keywords: Japanese, Japanese English, language acquisition, loanwords

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Authors: Festus Epetimehin

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Agriculture remains the dominant sector in the rural areas where over 70% of Nigerian reside and it’s still the backbone of our economy. The observed poor performance of farmers in agricultural productivity is due to the nature of risks and uncertainties in agriculture.Agricultural insurance is one of the mechanisms by which farmers can stabilize farm income and investment. The study examined the relationship between agricultural insurance scheme (AIS) and performance of agribusiness in Nigeria. The study adopted exploratory research design which is an ex-ante research approach. One hundred copies of structured questionnaire were administered for the purpose of the study. Correlation analysis and regression analysis were employed for the study. The correlation analysis of the finding revealed that the independent variable; agricultural insurance scheme (AIS) is positively and significantly correlated with the set of dependent variables; where turnover (ABT)=0.582**, profitability (ABP)=0.321**, solvency (ABS)=0.418**and cost of production (ABC)=0.23** respectively. The regression analysis result also revealed the degree of relationship between the independent variable (AIS) and set of dependent variables where one(1%) percent increase in independent variable will lead to 33.9% (ABT), 9.7% (ABP), 17.5%(ABS) and 1.5%(ABC).The study recommended that the Federal Government in collaboration with the participating Agricultural insurers embark on awareness campaign through to the length and breadth of Nigeria on government support and insurance scheme for farmers. Government should also ensure that the loan and insurance scheme should extend beyond the mechanized farmers and include the intensive subsistence farmers in view of the fact that they are the dominants in most of the farm produce markets.

Keywords: agribusiness, agricultural insurance, performance, turnover, solvency, agricultural risks

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Authors: Zidane Abderrezaq

Abstract:

This paper’s primary objective is to identify the relative importance of various Islamic financial products, in theory and in practice, by examining the financing records of the Bank Islam Malaysia (Berhad) and the Algeria Islamic Bank. Currently, seven available Islamic financing products are considered viable alternatives to interest-based conventional contracts: mudarabah (trust financing), musharakah (equity financing), ijarah (lease financing), murabahah (trade financing), qard al-hassan (welfare loan), bay` bi al-thaman al-ajil (deferred payment financing), and istisna` (progressive payments). Among these financial products, mudarabah and musharakah are the most distinct. Their unique characteristics (at least in theory) make Islamic banks and Islamic financing viable alternatives to the conventional interest-based financial system. The question before us is to determine the extent of mudarabah and musharakah in Islamic financing in practice. The data are as follows: the average mudarabah is 5% of total financing, and the average musharakah is less than 3%. The combined average of mudarabah and musharakah for the two Islamic banks is less than 4% of the total finance and advances. The average qard al-hassan is about 4%, while istisna` does not yet exist in practice. Murabahah is the most popular and dominates all other modes of Islamic financing. The average use of murabahah is over 54%. When the bay` bi al-thaman al-ajil is added to the murabahah, the percentage of total financing is shown to be 82.68%. This paper also explores some possible reasons why these two Islamic banks appear to prefer murabahah to mudarabah and musharakah.

Keywords: Islamic banking, Islamic finance, Islamic banking rofitability, investment banking

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Authors: O. B. Urhibo, D. Imhonopi, T. George

Abstract:

The global rate of decline in entrepreneurial activities, and the prevalence in Africa, especially Nigeria, is more worrisome. In recent times, these problems, such as the lack of accessibility and utilization of financial incentives needed to promote entrepreneurial activities, have led to a decrease in entrepreneurial activities. The causes of the decline have been evaluated from a different perspective and have further confirmed the relevance and need for the sustainability of the Fashion industry. With the increasing rate of unemployment and poverty in Nigeria and the literature gap in the social context, this study investigated the patterns of sustainable financial incentives utilisation among fashion design entrepreneurs in Nigeria through a qualitative approach. The Eastern part of Nigeria was considered in this study because of the high rate of market activity for textile and clothing firms. Specifically, Delta state was considered in this study. A purposive sampling technique was used to select key informants consisting of twelve (12) executives of the associations (i.e., Fashion Designer & Exhibitors Association, Delta Fashion Designers, and Fashion Designers Association of Nigeria for the interview sessions. Four themes emanate from the thematic analysis -lack of sufficient collateral, difficulties and duration of loan application processes, unacceptable business proposal/plan, and the absence of audited financial accounts were found to be the patterns of sustainable financial incentives utilisation among fashion design entrepreneurs in Nigeria. The promotion of sustainable patterns and supports has been suggested to reduce the challenges of sustainable financial incentives utilisation among fashion design entrepreneurs.

Keywords: entrepreneurship, fashion design, financial incentives, patterns, sustainability, utilisation

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Authors: Puti F. Marzuki, Adrianto Oktavianus, Almerinda Regina

Abstract:

Interface problems among interacting parties in Indonesian construction projects have most often led to low productivity and completion delay. In the midst of this country’s needs to accelerate construction of public infrastructure providing connectivity among regions and supporting economic growth as well as better living quality, project delays have to be seriously addressed. This paper identifies potential causes factors of interface problems experienced by construction projects in Indonesia. Data are collected through a survey involving the main actors of six important public infrastructure construction projects including railway, LRT, sports stadiums, apartment, and education building construction projects. Five of these projects adopt the design-build project delivery method and one applies the design-bid-build scheme. Interface problems’ potential causes are categorized into contract, management, technical experience, coordination, financial, and environmental factors. Research results reveal that, especially in railway and LRT projects, potential causes of interface problems are mainly technical and managerial in nature. These relate to complex construction execution in highly congested areas. Meanwhile, coordination cause factors are mainly found in the education building construction project with loan from a foreign donor. All of the six projects have to resolve interface problems caused by incomplete or low-quality contract documents. This research also shows that the design-bid-build delivery method involving more parties in construction projects tends to induce more interface problem cause factors than the design-build scheme.

Keywords: cause factors, construction delays, project delivery method, contract documents

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Authors: Maria L. Swanson

Abstract:

Language is a system which constantly changes and reflects social and cultural transformations of a speech community. If it is phonetic system, morphological patterns and syntactic arrangements undergo little charge and are not easily transferable from one language to another, the lexicon has a high degree of flexibility. Borrowings in Arabic have always been an interesting and important subject of study to various fields of linguistics, history and culturology, and there is quite number of works devoted to this subject (al-Khalīl, Sībawīḥ, Jeffery, Belkin, al-Maghribii, Holes, Stetkevich, el-Mawlūdī, between many others). At the same time, the history of borrowing has never been described as a process starting from its originating and up to the present time. Most of the researches study lexical and morphological adaptation of borrowed words for specific or several historical periods or delineate this process on the whole. Meanwhile, we have described the whole history of borrowings in Arabic with the brief depicting of lexical and morphological specifics for each historical period using quantitative method through dividing Arabic borrowings into several groups, basing on the specific of their adaptation of new vocabulary which is tightly related to the global transformations in the Arabic history. We explain reasons for borrowings of specific lexical layers for each historical period together with the description of its morphological specifics. We also use qualitative approach through performing statistics about the share of loan vocabulary in Arabic during different periods and the percentage of borrowings from donor languages. The history of a character and amount of borrowings is a good resource for theoretical and practical lexicography and morphology studies. It is also beneficial for researchers in the field of global and specific national, political and social developments, and different types of contacts.

Keywords: anthropological linguistics, borrowings, historical linguistics, sociolinguistics

Procedia PDF Downloads 420