Search results for: stability and transparency
2534 Comparative Study Performance of the Induction Motor between SMC and NLC Modes Control
Authors: A. Oukaci, R. Toufouti, D. Dib, l. Atarsia
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This article presents a multitude of alternative techniques to control the vector control, namely the nonlinear control and sliding mode control. Moreover, the implementation of their control law applied to the high-performance to the induction motor with the objective to improve the tracking control, ensure stability robustness to parameter variations and disturbance rejection. Tests are performed numerical simulations in the Matlab/Simulink interface, the results demonstrate the efficiency and dynamic performance of the proposed strategy.Keywords: Induction Motor (IM), Non-linear Control (NLC), Sliding Mode Control (SMC), nonlinear sliding surface
Procedia PDF Downloads 5722533 Risk Assessment of Natural Gas Pipelines in Coal Mined Gobs Based on Bow-Tie Model and Cloud Inference
Authors: Xiaobin Liang, Wei Liang, Laibin Zhang, Xiaoyan Guo
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Pipelines pass through coal mined gobs inevitably in the mining area, the stability of which has great influence on the safety of pipelines. After extensive literature study and field research, it was found that there are a few risk assessment methods for coal mined gob pipelines, and there is a lack of data on the gob sites. Therefore, the fuzzy comprehensive evaluation method is widely used based on expert opinions. However, the subjective opinions or lack of experience of individual experts may lead to inaccurate evaluation results. Hence the accuracy of the results needs to be further improved. This paper presents a comprehensive approach to achieve this purpose by combining bow-tie model and cloud inference. The specific evaluation process is as follows: First, a bow-tie model composed of a fault tree and an event tree is established to graphically illustrate the probability and consequence indicators of pipeline failure. Second, the interval estimation method can be scored in the form of intervals to improve the accuracy of the results, and the censored mean algorithm is used to remove the maximum and minimum values of the score to improve the stability of the results. The golden section method is used to determine the weight of the indicators and reduce the subjectivity of index weights. Third, the failure probability and failure consequence scores of the pipeline are converted into three numerical features by using cloud inference. The cloud inference can better describe the ambiguity and volatility of the results which can better describe the volatility of the risk level. Finally, the cloud drop graphs of failure probability and failure consequences can be expressed, which intuitively and accurately illustrate the ambiguity and randomness of the results. A case study of a coal mine gob pipeline carrying natural gas has been investigated to validate the utility of the proposed method. The evaluation results of this case show that the probability of failure of the pipeline is very low, the consequences of failure are more serious, which is consistent with the reality.Keywords: bow-tie model, natural gas pipeline, coal mine gob, cloud inference
Procedia PDF Downloads 2502532 Identifying Issues of Corporate Governance and the Effect on Organizational Performance
Authors: Abiodun Oluwaseun Ibude
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Every now and then we hear of companies closing down their operations due to unethical practices like an overstatement of company’s balance sheet, concealing company’s debt, embezzlement of company’s fund, declaring false profit and so on. This has led to the liquidation of companies and the loss of investments of shareholders as well as the interest of other stakeholders. As a result of these ugly trends, there is need to put in place a formidable mechanism that will ensure that business activities are conducted in a healthy manner. It should also promote good ethics as well as ensure that the interest of stakeholders and the objectives of any organization is achieved within the confines of the law; wherein law exists to provide criminal penalties for falsification of documents and for conducting other irregularities. Based on the foregoing, it becomes imperative to ensure that steps are taken to stop this menace and face the challenges ahead. This calls for the practice of good governance. The purpose of this study is to identify various components of corporate governance and determine the impact of it on the performance of established organizations. A survey method with the use of questionnaire was applied in collecting data useful for this study which were later analyzed using correlation co-efficiency statistical tools in generating finding, making a conclusion, and necessary recommendation. From the research conducted, it was discovered that there are systems within organizations apart from regulatory agencies that ensure effective control of activities, promote accountability, and operational efficiency. However, some members of organizations fail to explore the usage of corporate governance and impact negatively of an organization’s performance. In conclusion, good corporate governance will not be achieved unless there is openness, honesty, transparency, accountability, and fairness.Keywords: corporate governance, formidable mechanism, company’s balance sheet, stakeholders
Procedia PDF Downloads 1152531 Design, Synthesis, and Catalytic Applications of Functionalized Metal Complexes and Nanomaterials for Selective Oxidation and Coupling Reactions
Authors: Roghaye Behroozi
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The development of functionalized metal complexes and nanomaterials has gained significant attention due to their potential in catalyzing selective oxidation and coupling reactions. These catalysts play a crucial role in various industrial and pharmaceutical processes, enhancing the efficiency, selectivity, and sustainability of chemical reactions. This research aims to design and synthesize new functionalized metal complexes and nanomaterials to explore their catalytic applications in the selective oxidation of alcohols and coupling reactions, focusing on improving yield, selectivity, and catalyst reusability. The study involves the synthesis of a nickel Schiff base complex stabilized within 41-MCM as a heterogeneous catalyst. A Schiff base ligand derived from glycine was used to create a tin (IV) metal complex characterized through spectroscopic techniques and computational analysis. Additionally, iron-based magnetic nanoparticles functionalized with melamine were synthesized for catalytic evaluation. Lastly, a palladium (IV) complex was prepared, and its oxidative stability was analyzed. The nickel Schiff base catalyst showed high selectivity in converting primary and secondary alcohols to aldehydes and ketones, with yields ranging from 73% to 90%. The tin (IV) complex demonstrated accurate structural and electronic properties, with consistent results between experimental and computational data. The melamine-functionalized iron nanoparticles exhibited efficient catalytic activity in producing triazoles, with enhanced reaction speed and reusability. The palladium (IV) complex displayed remarkable stability and low reactivity towards C–C bond formation due to its symmetrical structure. The synthesized metal complexes and nanomaterials demonstrated significant potential as efficient, selective, and reusable catalysts for oxidation and coupling reactions. These findings pave the way for developing environmentally friendly and cost-effective catalytic systems for industrial applications.Keywords: catalysts, Schiff base complexes, metal-organic frameworks, oxidation reactions, nanoparticles, reusability
Procedia PDF Downloads 152530 Hybrid Nanostructures of Acrylonitrile Copolymers
Authors: A. Sezai Sarac
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Acrylonitrile (AN) copolymers with typical comonomers of vinyl acetate (VAc) or methyl acrylate (MA) exhibit better mechanical behaviors than its homopolymer. To increase processability of conjugated polymer, and to obtain a hybrid nano-structure multi-stepped emulsion polymerization was applied. Such products could be used in, i.e., drug-delivery systems, biosensors, gas-sensors, electronic compounds, etc. Incorporation of a number of flexible comonomers weakens the dipolar interactions among CN and thereby decreases melting point or increases decomposition temperatures of the PAN based copolymers. Hence, it is important to consider the effect of comonomer on the properties of PAN-based copolymers. Acrylonitrile vinylacetate (AN–VAc ) copolymers have the significant effect to their thermal behavior and are also of interest as precursors in the production of high strength carbon fibers. AN is copolymerized with one or two comonomers, particularly with vinyl acetate The copolymer of AN and VAc can be used either as a plastic (VAc > 15 wt %) or as microfibers (VAc < 15 wt %). AN provides the copolymer with good processability, electrochemical and thermal stability; VAc provides the mechanical stability. The free radical copolymerization of AN and VAc copolymer and core Shell structure of polyprrole composites,and nanofibers of poly(m-anthranilic acid)/polyacrylonitrile blends were recently studied. Free radical copolymerization of acrylonitrile (AN) – with different comonomers, i.e. acrylates, and styrene was realized using ammonium persulfate (APS) in the presence of a surfactant and in-situ polymerization of conjugated polymers was performed in this reaction medium to obtain core-shell nano particles. Nanofibers of such nanoparticles were obtained by electrospinning. Morphological properties of nanofibers are investigated by scanning electron microscopy (SEM) and atomic force spectroscopy (AFM). Nanofibers are characterized using Fourier Transform Infrared - Attenuated Total Reflectance spectrometer (FTIR-ATR), Nuclear Magnetic Resonance Spectroscopy (1H-NMR), differential scanning calorimeter (DSC), thermal gravimetric analysis (TGA), and Electrochemical Impedance Spectroscopy. The electrochemical Impedance results of the nanofibers were fitted to an equivalent curcuit by modelling (ECM).Keywords: core shell nanoparticles, nanofibers, ascrylonitile copolymers, hybrid nanostructures
Procedia PDF Downloads 3832529 A Study of Resin-Dye Fixation on Dyeing Properties of Cotton Fabrics Using Melamine Based Resins and a Reactive Dye
Authors: Nurudeen Ayeni, Kasali Bello, Ovi Abayeh
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Study of the effect of dye–resin complexation on the degree of dye absorption were carried out using Procion Blue MX-R to dye cotton fabric in the presence hexamethylol melamine (MR 6) and its phosphate derivative (MPR 4) for resination. The highest degree of dye exhaustion was obtained at 400 C for 1 hour with the resinated fabric showing more affinity for the dye than the ordinary fiber. Improved fastness properties was recorded which show a relatively higher stability of dye–resin–cellulose network formed.Keywords: cotton fabric, reactive dye, dyeing, resination
Procedia PDF Downloads 4072528 3D Interpenetrated Network Based on 1,3-Benzenedicarboxylate and 1,2-Bis(4-Pyridyl) Ethane
Authors: Laura Bravo-García, Gotzone Barandika, Begoña Bazán, M. Karmele Urtiaga, Luis M. Lezama, María I. Arriortua
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Solid coordination networks (SCNs) are materials consisting of metal ions or clusters that are linked by polyfunctional organic ligands and can be designed to form tridimensional frameworks. Their structural features, as for example high surface areas, thermal stability, and in other cases large cavities, have opened a wide range of applications in fields like drug delivery, host-guest chemistry, biomedical imaging, chemical sensing, heterogeneous catalysis and others referred to greenhouse gases storage or even separation. In this sense, the use of polycarboxylate anions and dipyridyl ligands is an effective strategy to produce extended structures with the needed characteristics for these applications. In this context, a novel compound, [Cu4(m-BDC)4(bpa)2DMF]•DMF has been obtained by microwave synthesis, where m-BDC is 1,3-benzenedicarboxylate and bpa 1,2-bis(4-pyridyl)ethane. The crystal structure can be described as a three dimensional framework formed by two equal, interpenetrated networks. Each network consists of two different CuII dimers. Dimer 1 have two coppers with a square pyramidal coordination, and dimer 2 have one with a square pyramidal coordination and other with octahedral one, the last dimer is unique in literature. Therefore, the combination of both type of dimers is unprecedented. Thus, benzenedicarboxylate ligands form sinusoidal chains between the same type of dimers, and also connect both chains forming these layers in the (100) plane. These layers are connected along the [100] direction through the bpa ligand, giving rise to a 3D network with 10 Å2 voids in average. However, the fact that there are two interpenetrated networks results in a significant reduction of the available volume. Structural analysis was carried out by means of single crystal X-ray diffraction and IR spectroscopy. Thermal and magnetic properties have been measured by means of thermogravimetry (TG), X-ray thermodiffractometry (TDX), and electron paramagnetic resonance (EPR). Additionally, CO2 and CH4 high pressure adsorption measurements have been carried out for this compound.Keywords: gas adsorption, interpenetrated networks, magnetic measurements, solid coordination network (SCN), thermal stability
Procedia PDF Downloads 3232527 Teaching the Temperature Dependence of Electrical Resistance of Materials through Arduino Investigation
Authors: Vinit Srivastava, Abhay Singh Thakur, Shivam Dubey, Rahul Vaish, Bharat Singh Rajpurohit
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This study examines the problem of students' poor comprehension of the thermal dependence of resistance by investigating this idea using an evidence-based inquiry approach. It suggests a practical exercise to improve secondary school students' comprehension of how materials' resistance to temperature changes. The suggested exercise uses an Arduino and Peltier device to test the resistance of aluminum and graphite at various temperatures. The study attempts to close the knowledge gap between the theoretical and practical facets of the subject, which students frequently find difficult to grasp. With the help of a variety of resistors made of various materials and pencils of varying grades, the Arduino experiment investigates the resistance of a metallic conductor (aluminum) and a semiconductor (graphite) at various temperatures. The purpose of the research is to clarify for students the relationship between temperature and resistance and to emphasize the importance of resistor material choice and measurement methods in obtaining precise and stable resistance values over dynamic temperature variations. The findings show that while the resistance of graphite decreases with temperature, the resistance of metallic conductors rises with temperature. The results also show that as softer lead pencils or pencils of a lower quality are used, the resistance values of the resistors drop. In addition, resistors showed greater stability at lower temperatures when their temperature coefficients of resistance (TCR) were smaller. Overall, the results of this article show that the suggested experiment is a useful and practical method for teaching students about resistance's relationship to temperature. It emphasizes how crucial it is to take into account the resistor material selection and the resistance measurement technique when designing and picking out resistors for various uses. The results of the study are anticipated to guide the creation of more efficient teaching methods to close the gap between science education's theoretical and practical components.Keywords: electrical resistance, temperature dependence, science education, inquiry-based activity, resistor stability
Procedia PDF Downloads 762526 Stability of Porous SiC Based Materials under Relevant Conditions of Radiation and Temperature
Authors: Marta Malo, Carlota Soto, Carmen García-Rosales, Teresa Hernández
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SiC based composites are candidates for possible use as structural and functional materials in the future fusion reactors, the main role is intended for the blanket modules. In the blanket, the neutrons produced in the fusion reaction slow down and their energy is transformed into heat in order to finally generate electrical power. In the blanket design named Dual Coolant Lead Lithium (DCLL), a PbLi alloy for power conversion and tritium breeding circulates inside hollow channels called Flow Channel Inserts (FCIs). These FCI must protect the steel structures against the highly corrosive PbLi liquid and the high temperatures, but also provide electrical insulation in order to minimize magnetohydrodynamic interactions of the flowing liquid metal with the high magnetic field present in a magnetically confined fusion environment. Due to their nominally high temperature and radiation stability as well as corrosion resistance, SiC is the main choice for the flow channel inserts. The significantly lower manufacturing cost presents porous SiC (dense coating is required in order to assure protection against corrosion and as a tritium barrier) as a firm alternative to SiC/SiC composites for this purpose. This application requires the materials to be exposed to high radiation levels and extreme temperatures, conditions for which previous studies have shown noticeable changes in both the microstructure and the electrical properties of different types of silicon carbide. Both initial properties and radiation/temperature induced damage strongly depend on the crystal structure, polytype, impurities/additives that are determined by the fabrication process, so the development of a suitable material requires full control of these variables. For this work, several SiC samples with different percentage of porosity and sintering additives have been manufactured by the so-called sacrificial template method at the Ceit-IK4 Technology Center (San Sebastián, Spain), and characterized at Ciemat (Madrid, Spain). Electrical conductivity was measured as a function of temperature before and after irradiation with 1.8 MeV electrons in the Ciemat HVEC Van de Graaff accelerator up to 140 MGy (~ 2·10 -5 dpa). Radiation-induced conductivity (RIC) was also examined during irradiation at 550 ºC for different dose rates (from 0.5 to 5 kGy/s). Although no significant RIC was found in general for any of the samples, electrical conductivity increase with irradiation dose was observed to occur for some compositions with a linear tendency. However, first results indicate enhanced radiation resistance for coated samples. Preliminary thermogravimetric tests of selected samples, together with posterior XRD analysis allowed interpret radiation-induced modification of the electrical conductivity in terms of changes in the SiC crystalline structure. Further analysis is needed in order to confirm this.Keywords: DCLL blanket, electrical conductivity, flow channel insert, porous SiC, radiation damage, thermal stability
Procedia PDF Downloads 2002525 Catalytic Cracking of Butene to Propylene over Modified HZSM-5 Zeolites
Authors: Jianwen Li, Hongfang Ma, Haitao Zhang, Qiwen Sun, Weiyong Ying
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Catalytic cracking of butene to propylene was carried out in a continuous-flow fixed-bed reactor over HZSM-5 catalysts modified by nickel and phosphorus. The structure and acidity of catalysts were measured by N2 adsorption, NH3-TPD and XPS. The results revealed that surface area and strong acid sites both decreased with increasing phosphorus loadings. The increment of phosphorus loadings reduced the butene conversion but enhanced the propylene selectivity and catalyst stability.Keywords: butene, catalytic cracking, HZSM-5, modification
Procedia PDF Downloads 3942524 Effect of Retained Posterior Horn of Medial Meniscus on Functional Outcome of ACL Reconstructed Knees
Authors: Kevin Syam, Devendra K. Chauhan, Mandeep Singh Dhillon
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Background: The posterior horn of medial meniscus (PHMM) is a secondary stabilizer against anterior translation of tibia. Cadaveric studies have revealed increased strain on the ACL graft and greater instrumented laxity in Posterior horn deficient knees. Clinical studies have shown higher prevalence of radiological OA after ACL reconstruction combined with menisectomy. However, functional outcomes in ACL reconstructed knee in the absence of Posterior horn is less discussed, and specific role of posterior horn is ill-documented. This study evaluated functional and radiological outcomes in posterior horn preserved and posterior horn sacrificed ACL reconstructed knees. Materials: Of the 457 patients who had ACL reconstruction done over a 6 year period, 77 cases with minimum follow up of 18 months were included in the study after strict exclusion criteria (associated lateral meniscus injury, other ligamentous injuries, significant cartilage degeneration, repeat injury and contralateral knee injuries were excluded). 41 patients with intact menisci were compared with 36 patients with absent posterior horn of medial meniscus. Radiological and clinical tests for instability were conducted, and knees were evaluated using subjective International Knee Documentation Committee (IKDC) score and the Orthopadische Arbeitsgruppe Knie score (OAK). Results: We found a trend towards significantly better overall outcome (OAK) in cases with intact PHMM at average follow-up of 43.03 months (p value 0.082). Cases with intact PHMM had significantly better objective stability (p value 0.004). No significant differences were noted in the subjective IKDC score (p value 0.526) and the functional OAK outcome (category D) (p value 0.363). More cases with absent posterior horn had evidence of radiological OA (p value 0.022) even at mid-term follow-up. Conclusion: Even though the overall OAK and subjective IKDC scores did not show significant difference between the two subsets, the poorer outcomes in terms of objective stability and radiological OA noted in the absence of PHMM, indicates the importance of preserving this important part of the meniscus.Keywords: ACL, functional outcome, knee, posterior of medial meniscus
Procedia PDF Downloads 3592523 An Exploration of Why Insider Fraud Is the Biggest Threat to Your Business
Authors: Claire Norman-Maillet
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Insider fraud, otherwise known as occupational, employee, or internal fraud, is a financial crime threat. Perpetrated by defrauding (or attempting to defraud) one’s current, prospective, or past employer, an ‘employee’ covers anyone employed by the company, including board members and contractors. The Coronavirus pandemic has forced insider fraud into the spotlight, and it isn’t dimming. As the focus of most academics and practitioners has historically been on that of ‘external fraud’, insider fraud is often overlooked or not considered to be a real threat. However, since COVID-19 changed the working world, pushing most of us into remote or hybrid working, employers cannot easily keep an eye on what their staff are doing, which has led to reliance on trust and transparency. This, therefore, brings about an increased risk of insider fraud perpetration. The objective of this paper is to explore why insider fraud is, therefore, now the biggest threat to a business. To achieve the research objective, participating individuals within the financial crime sector (either as a practitioner or consultants) attended semi-structured interviews with the researcher. The principal recruitment strategy for these individuals was via the researcher’s LinkedIn network. The main findings in the research suggest that insider fraud has been ignored and rejected as a threat to a business, owing to a reluctance to admit that a colleague may perpetrate. A positive of the Coronavirus pandemic is that it has forced insider fraud into a more prominent position and giving it more importance on a business’ agenda and risk register. Despite insider fraud always having been a possibility (and therefore a risk) within any business, it is very rare that a business has given it the attention it requires until now, if at all. The research concludes that insider fraud needs to prioritised by all businesses, and even ahead of external fraud. The research also provides advice on how a business can add new or enhance existing controls to mitigate the risk.Keywords: insider fraud, occupational fraud, COVID-19, COVID, coronavirus, pandemic, internal fraud, financial crime, economic crime
Procedia PDF Downloads 642522 Understanding the Complexity of Corruption and Anti-Corruption in Indonesia's Mining Industry: Challenges and Opportunities
Authors: Ahmad Khoirul Umam, Iin Mayasari
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Indonesia is blessed with rich natural resources and frequently dubbed as the 6th richest country in the world in terms of mining resources, including minerals and coal. Mining can contribute to the socio-economic development by generating state revenue for development, elevating poverty through employment, opening and developing remote areas, putting in basic infrastructure and creating new centres of developments. However, favouritism and rent-seeking behaviour committed by government officials, politicians, and business players in licensing and permit giving in mining and forestry sectors have resisted reforms. Even though Indonesia’s Corruption Eradication Commission (KPK) successfully targeted untouchable actors, public criticism continues to focus on questions of why corruption apparently remains systemic in mining industry in the country? This paper revealed that structural anomalies, as well as legacies of the Soeharto era’s power inequities, have severely inhibited Indonesia’s bureaucratic arrangements that continue to influence adversely the elements of transparency and accountability in mining industry governance. In the more liberalized and decentralized political system, the deficiencies have gradually assisted vested interest groups to band together, thus creating a coalition that can challenge, resist, and contain anti-graft actions. Therefore, Indonesia needs much more serious anti-corruption actions that would require eliminating the monopoly over power, enhancing competition, limiting discretion, and clarifying the rules of business and political competition in the mining sector in the country.Keywords: anti-corruption, public integrity, private integrity, mining industry, democratization
Procedia PDF Downloads 1112521 Development of a Systematic Approach to Assess the Applicability of Silver Coated Conductive Yarn
Authors: Y. T. Chui, W. M. Au, L. Li
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Recently, wearable electronic textiles have been emerging in today’s market and were developed rapidly since, beside the needs for the clothing uses for leisure, fashion wear and personal protection, there also exist a high demand for the clothing to be capable for function in this electronic age, such as interactive interfaces, sensual being and tangible touch, social fabric, material witness and so on. With the requirements of wearable electronic textiles to be more comfortable, adorable, and easy caring, conductive yarn becomes one of the most important fundamental elements within the wearable electronic textile for interconnection between different functional units or creating a functional unit. The properties of conductive yarns from different companies can vary to a large extent. There are vitally important criteria for selecting the conductive yarns, which may directly affect its optimization, prospect, applicability and performance of the final garment. However, according to the literature review, few researches on conductive yarns on shelf focus on the assessment methods of conductive yarns for the scientific selection of material by a systematic way under different conditions. Therefore, in this study, direction of selecting high-quality conductive yarns is given. It is to test the stability and reliability of the conductive yarns according the problems industrialists would experience with the yarns during the every manufacturing process, in which, this assessment system can be classified into four stage. That is 1) Yarn stage, 2) Fabric stage, 3) Apparel stage and 4) End user stage. Several tests with clear experiment procedures and parameters are suggested to be carried out in each stage. This assessment method suggested that the optimal conducting yarns should be stable in property and resistant to various corrosions at every production stage or during using them. It is expected that this demonstration of assessment method can serve as a pilot study that assesses the stability of Ag/nylon yarns systematically at various conditions, i.e. during mass production with textile industry procedures, and from the consumer perspective. It aims to assist industrialists to understand the qualities and properties of conductive yarns and suggesting a few important parameters that they should be reminded of for the case of higher level of suitability, precision and controllability.Keywords: applicability, assessment method, conductive yarn, wearable electronics
Procedia PDF Downloads 5352520 Shariah Guideline on Value-Based Intermediation Implementation in the Light of Maqasid Shariah Analysis
Authors: Muhammad Izzam Bin Mohd Khazar, Ruqayyah Binti Mohamad Ali, Nurul Atiqah Binti Yusri
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Value-based intermediation (VBI) has been introduced by Bank Negara Malaysia (BNM) as the next strategic direction and growth driver for Islamic banking institutions. The aim of VBI is to deliver the intended outcome of Shariah through practices, conducts, and offerings that generate positive and sustainable impact to the economy, community and environment which is aligned to Maqasid Shariah in preserving the common interest of society by preventing harm and maximizing benefit. Hence, upon its implementation, VBI will experiment the current Shariah compliance treatment and revolutionise new policies and systems that can meritoriously entrench and convey the objectives of Shariah. However, discussion revolving VBI in the light of Maqasid analysis is still scarce hence further research needs to be undertaken. The idea of implementation of VBI vision into quantifiable Maqasid Shariah measurement is yet to be explored due to the nature of Maqasid that is variable. The contemporary scholars also have different views on the implementation of VBI. This paper aims to discuss on the importance of Maqasid Shariah in the current Islamic finance transactions by providing Shariah index measurement in the application of VBI. This study also intends to explore basic Shariah guidelines and parameters based on the objectives of Shariah; preservation of the five pillars (religion, life, progeny, intellect and wealth) with further elaboration on preservation of wealth under five headings: rawaj (circulation and marketability); wuduh (transparency); hifz (preservation); thabat (durability and tranquillity); and ‘adl (equity and justice). In alignment with these headings, Islamic finance can be innovated for VBI implementation, particularly in Maybank Islamic being a significant leader in the IFI market.Keywords: Islamic Financial Institutions, Maqasid Index, Maqasid Shariah, sustainability, value-based intermediation
Procedia PDF Downloads 1682519 The Fabrication and Characterization of a Honeycomb Ceramic Electric Heater with a Conductive Coating
Authors: Siming Wang, Qing Ni, Yu Wu, Ruihai Xu, Hong Ye
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Porous electric heaters, compared to conventional electric heaters, exhibit excellent heating performance due to their large specific surface area. Porous electric heaters employ porous metallic materials or conductive porous ceramics as the heating element. The former attains a low heating power with a fixed current due to the low electrical resistivity of metal. Although the latter can bypass the inherent challenges of porous metallic materials, the fabrication process of the conductive porous ceramics is complicated and high cost. This work proposed a porous ceramic electric heater with dielectric honeycomb ceramic as a substrate and surface conductive coating as a heating element. The conductive coating was prepared by the sol-gel method using silica sol and methyl trimethoxysilane as raw materials and graphite powder as conductive fillers. The conductive mechanism and degradation reason of the conductive coating was studied by electrical resistivity and thermal stability analysis. The heating performance of the proposed heater was experimentally investigated by heating air and deionized water. The results indicate that the electron transfer is achieved by forming the conductive network through the contact of the graphite flakes. With 30 wt% of graphite, the electrical resistivity of the conductive coating can be as low as 0.88 Ω∙cm. The conductive coating exhibits good electrical stability up to 500°C but degrades beyond 600°C due to the formation of many cracks in the coating caused by the weight loss and thermal expansion. The results also show that the working medium has a great influence on the volume power density of the heater. With air under natural convection as the working medium, the volume power density attains 640.85 kW/m3, which can be increased by 5 times when using deionized water as the working medium. The proposed honeycomb ceramic electric heater has the advantages of the simple fabrication method, low cost, and high volume power density, demonstrating great potential in the fluid heating field.Keywords: conductive coating, honeycomb ceramic electric heater, high specific surface area, high volume power density
Procedia PDF Downloads 1532518 Top-Down Approach for Fabricating Hematite Nanowire Arrays
Authors: Seungmin Shin, Jin-Baek Kim
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Hematite (α-Fe2O3) has very good semiconducting properties with a band gap of 2.1 eV and is antiferromagnetic. Due to its electrochemical stability, low toxicity, wide abundance, and low-cost, hematite, it is a particularly attractive material for photoelectrochemical cells. Additionally, hematite has also found applications in gas sensing, field emission, heterogeneous catalysis, and lithium-ion battery electrodes. Here, we discovered a new universal top-down method for the synthesis of one-dimensional hematite nanowire arrays. Various shapes and lengths of hematite nanowire have been easily fabricated over large areas by sequential processes. The obtained hematite nanowire arrays are promising candidates as photoanodes in photoelectrochemical solar cells.Keywords: hematite, lithography, nanowire, top-down process
Procedia PDF Downloads 2492517 Optimal Concentration of Fluorescent Nanodiamonds in Aqueous Media for Bioimaging and Thermometry Applications
Authors: Francisco Pedroza-Montero, Jesús Naín Pedroza-Montero, Diego Soto-Puebla, Osiris Alvarez-Bajo, Beatriz Castaneda, Sofía Navarro-Espinoza, Martín Pedroza-Montero
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Nanodiamonds have been widely studied for their physical properties, including chemical inertness, biocompatibility, optical transparency from the ultraviolet to the infrared region, high thermal conductivity, and mechanical strength. In this work, we studied how the fluorescence spectrum of nanodiamonds quenches concerning the concentration in aqueous solutions systematically ranging from 0.1 to 10 mg/mL. Our results demonstrated a non-linear fluorescence quenching as the concentration increases for both of the NV zero-phonon lines; the 5 mg/mL concentration shows the maximum fluorescence emission. Furthermore, this behaviour is theoretically explained as an electronic recombination process that modulates the intensity in the NV centres. Finally, to gain more insight, the FRET methodology is used to determine the fluorescence efficiency in terms of the fluorophores' separation distance. Thus, the concentration level is simulated as follows, a small distance between nanodiamonds would be considered a highly concentrated system, whereas a large distance would mean a low concentrated one. Although the 5 mg/mL concentration shows the maximum intensity, our main interest is focused on the concentration of 0.5 mg/mL, which our studies demonstrate the optimal human cell viability (99%). In this respect, this concentration has the feature of being as biocompatible as water giving the possibility to internalize it in cells without harming the living media. To this end, not only can we track nanodiamonds on the surface or inside the cell with excellent precision due to their fluorescent intensity, but also, we can perform thermometry tests transforming a fluorescence contrast image into a temperature contrast image.Keywords: nanodiamonds, fluorescence spectroscopy, concentration, bioimaging, thermometry
Procedia PDF Downloads 4052516 Effect of the Vertical Pressure on the Electrical Behaviour of the Micro-Copper Polyurethane Composite Films
Authors: Saeid Mehvari, Yolanda Sanchez-Vicente, Sergio González Sánchez, Khalid Lafdi
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Abstract- Materials with a combination of transparency, electrical conductivity, and flexibility are required in the growing electronic sector. In this research, electrically conductive and flexible films have been prepared. These composite films consist of dispersing micro-copper particles into polyurethane (PU) matrix. Two sets of samples were made using both spin coating technique (sample thickness lower than 30 μm) and materials casting (sample thickness lower than 100 μm). Copper concentrations in the PU matrix varied from 0.5 to 20% by volume. The dispersion of micro-copper particles into polyurethane (PU) matrix were characterised using optical microscope and scanning electron microscope. The electrical conductivity measurement was carried out using home-made multimeter set up under pressures from 1 to 20 kPa through thickness and in plane direction. It seems that samples made by casting were not conductive. However, the sample made by spin coating shows through-thickness conductivity when they are under pressure. The results showed that spin-coated films with higher concentration of 2 vol. % of copper displayed a significant increase in the conductivity value, known as percolation threshold. The maximum conductivity of 7.2 × 10-1 S∙m-1 was reached at concentrations of filler with 20 vol. % at 20kPa. A semi-empirical model with adjustable coefficients was used to fit and predict the electrical behaviour of composites. For the first time, the finite element method based on the representative volume element (FE-RVE) was successfully used to predict their electrical behaviour under applied pressures. Keywords: electrical conductivity, micro copper, numerical simulation, percolation threshold, polyurethane, RVE model
Procedia PDF Downloads 1962515 Introduction of an Approach of Complex Virtual Devices to Achieve Device Interoperability in Smart Building Systems
Authors: Thomas Meier
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One of the major challenges for sustainable smart building systems is to support device interoperability, i.e. connecting sensor or actuator devices from different vendors, and present their functionality to the external applications. Furthermore, smart building systems are supposed to connect with devices that are not available yet, i.e. devices that become available on the market sometime later. It is of vital importance that a sustainable smart building platform provides an appropriate external interface that can be leveraged by external applications and smart services. An external platform interface must be stable and independent of specific devices and should support flexible and scalable usage scenarios. A typical approach applied in smart home systems is based on a generic device interface used within the smart building platform. Device functions, even of rather complex devices, are mapped to that generic base type interface by means of specific device drivers. Our new approach, presented in this work, extends that approach by using the smart building system’s rule engine to create complex virtual devices that can represent the most diverse properties of real devices. We examined and evaluated both approaches by means of a practical case study using a smart building system that we have developed. We show that the solution we present allows the highest degree of flexibility without affecting external application interface stability and scalability. In contrast to other systems our approach supports complex virtual device configuration on application layer (e.g. by administration users) instead of device configuration at platform layer (e.g. platform operators). Based on our work, we can show that our approach supports almost arbitrarily flexible use case scenarios without affecting the external application interface stability. However, the cost of this approach is additional appropriate configuration overhead and additional resource consumption at the IoT platform level that must be considered by platform operators. We conclude that the concept of complex virtual devices presented in this work can be applied to improve the usability and device interoperability of sustainable intelligent building systems significantly.Keywords: Internet of Things, smart building, device interoperability, device integration, smart home
Procedia PDF Downloads 2712514 Real-Time Inventory Management and Operational Efficiency in Manufacturing
Authors: Tom Wanyama
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We have developed a weight-based parts inventory monitoring system utilizing the Industrial Internet of Things (IIoT) to enhance operational efficiencies in manufacturing. The system addresses various challenges, including eliminating downtimes caused by stock-outs, preventing human errors in parts delivery and product assembly, and minimizing motion waste by reducing unnecessary worker movements. The system incorporates custom QR codes for simplified inventory tracking and retrieval processes. The generated data serves a dual purpose by enabling real-time optimization of parts flow within manufacturing facilities and facilitating retroactive optimization of stock levels for informed decision-making in inventory management. The pilot implementation at SEPT Learning Factory successfully eradicated data entry errors, optimized parts delivery, and minimized workstation downtimes, resulting in a remarkable increase of over 10% in overall equipment efficiency across all workstations. Leveraging the IIoT features, the system seamlessly integrates information into the process control system, contributing to the enhancement of product quality. This approach underscores the importance of effective tracking of parts inventory in manufacturing to achieve transparency, improved inventory control, and overall profitability. In the broader context, our inventory monitoring system aligns with the evolving focus on optimizing supply chains and maintaining well-managed warehouses to ensure maximum efficiency in the manufacturing industry.Keywords: industrial Internet of things, industrial systems integration, inventory monitoring, inventory control in manufacturing
Procedia PDF Downloads 342513 Efficacy of Transcranial Magnetic Therapy on Balance in Patients with Vestibular Dysfunction
Authors: Ibrahim M. I. Hamoda, Ahmed R. Z. Baghdadi, Mohammed K. Mohamed, Nawal A. Abu-Shady
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Background: Most of patients with vestibular dysfunction suffering from balance disorders, Abnormality in balance increase effort and exertion which affect the independency, so this study might be a guide in managing balance problem and consequently improve walking with less exertion and maximum function. Purpose: to analyze and discuss the effect of transcranial magnetic therapy on balance in patients with vestibular dysfunction. Methods: forty subjects from both sexes were classified to divided randomly into two equal groups; Group I study group: this group received transcranial magnetic therapy, with a selected physical therapy program for improving balance and vestibular disorders (Balance training, Cawthorne-Cooksey Exercises) and group II (control group): this group received a selected physical therapy program as group I without transcranial magnetic therapy. This treatment procedure will be applied three times weekly for three months. The mean age was 54.53±3.44 and 55.33±2.32 years and BMI 35.7±3.03 and 35.73±1.03 kg/m2 for group I and II respectively. The Biodex Balance System, Berge balances scale (BBS) and brain MRI were used for assessment. Assessments were conducted before and after treatment. The treatment program for group I included balance training, Cawthorne-Cooksey Exercises and pulsed magnetic therapy (Parameters used in the program of 20 minutes, Intensity 2 gausses, Frequency 1 Hz). This selected program was done in approximately one hour every other day for three month. The treatment program group II Patients received the same program as group A without transcranial magnetic therapy. Results: The One-way ANOVA revealed that there were no significant differences in BBS scores, overall balance index, Anterior / posterior balance index, Medial / lateral balance index and dynamic limits of stability between both groups. Moreover, the BBS scores increased and overall balance index, Anterior / posterior balance index, Medial / lateral balance index and dynamic limits of stability decreased significantly after treatment in group I and II compared with before treatment. Interpretation/Conclusion: Adding pulsed magnetic therapy to balance training, Cawthorne-Cooksey Exercises has no effect on static and dynamic balance in patients with balance problems due to benign positional paroxysmal vertigo.Keywords: balance, transcranial magnetic therapy, vestibular dysfunction, biomechanic
Procedia PDF Downloads 4822512 Establish a Company in Turkey for Foreigners
Authors: Mucahit Unal, Ibrahim Arslan
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The New Turkish Commercial Code (TCC) No. 6102 was published in the Official Gazette on February 14, 2011. As stated in the New Turkish Commercial Code No. 6102 and Law No. 6103 on Validity and Application of the Turkish Commercial Code, TCC came into effect on July 1, 2012. The basic purpose of the TCC is to form corporate governance coherent with the international standards; to provide transparency in company management; to adjust the Turkish Commercial Code rules with European Union legislations and to simplify establishing a company for foreigner investors to move investments to Turkish market. In this context according to TCC, joint stock companies and limited liability companies can establish with only one single shareholder; the one single shareholder can be foreigner; all board of director members can be foreigner, also all shareholders and board of director members can be non-resident foreigners. Additionally, TCC does not require physical participation to the general shareholders and board members meetings. TCC allows that the general shareholders and board members meetings can hold in an electronic form and resolution of these meetings may also be approved via electronic signatures. Through this amendment, foreign investors no longer have to deal with red tapes. This amendment also means the TCC prevents foreign companies from incurring unnecessary travel expenses. In accordance with all this amendments about TCC, to invest in Turkish market is easy, simple and transparent for foreigner investors and also investors can establish a company in Turkey, irrespective of nationality or place of residence. This article aims to analyze ‘Establish a Company in Turkey for Foreigners’ and inform investors about investing (especially establishing a company) in the Turkish market.Keywords: establish a company, foreigner investors, invest in Turkish market, Turkish commercial code
Procedia PDF Downloads 2632511 The Relationship between Amplitude and Stability of Circadian Rhythm with Sleep Quality and Sleepiness: A Population Study, Kerman 2018
Authors: Akram Sadat Jafari Roodbandi, Farzaneh Akbari, Vafa Feyzi, Zahra Zare, Zohreh Foroozanfar
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Introduction: Circadian rhythm or sleep-awake cycle in 24 hours is one of the important factors affecting the physiological and psychological characteristics in humans that contribute to biochemical, physiological and behavioral processes and helps people to set up brain and body for sleep or active awakening during certain hours. The purpose of this study was to investigate the relationship between the characteristics of circadian rhythms on the sleep quality and sleepiness according to their demographic characteristics such as age. Methods: This cross-sectional descriptive-analytic study was carried out among the general population of Kerman, aged 15-84 years. After dividing the age groups into 10-year demographic characteristics questionnaire, the type of circadian questionnaire, Pittsburgh sleep quality questionnaire and Euporth sleepiness questionnaire were completed in equal numbers between men and women of that age group. Using cluster sampling with effect design equal 2, 1300 questionnaires were distributed during the various hours of 24 hours in public places in Kerman city. Data analysis was done using SPSS software and univariate tests and linear regressions at a significance level of 0.05. Results: In this study, 1147 subjects were included in the study, 584 (50.9%) were male and the rest were women. The mean age was 39.50 ± 15.38. 133 (11.60%) subjects from the study participants had sleepiness and 308 (26.90%) subjects had undesirable sleep quality. Using linear regression test, sleep quality was the significant correlation with sex, hours needed for sleep at 24 hours, chronic illness, sleepiness, and circadian rhythm amplitude. Sleepiness was the meaningful relationship with marital status, sleep-wake schedule of other family members and the stability of circadian rhythm. Both women and men, with age, decrease the quality of sleep and increase the rate of sleepiness. Conclusion: Age, sex, and type of circadian people, the need for sleep at 24 hours, marital status, sleep-wake schedule of other family members are significant factors related to the sleep quality and sleepiness and their adaptation to night shift work.Keywords: circadian type, sleep quality, sleepiness, age, shift work
Procedia PDF Downloads 1532510 An Evaluation of the Impact of International Accounting Standards on Financial Reporting Quality: Evidence from Emerging Economies
Authors: Kwadwo Yeboah
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Background and Aims: The adoption of International Accounting Standards (IAS) is considered to be one of the most significant developments in the accounting profession. The adoption of IAS aims to improve financial reporting quality by ensuring that financial information is transparent and comparable across borders. However, there is a lack of research on the impact of IAS on financial reporting quality in emerging economies. This study aims to fill this gap by evaluating the impact of IAS on financial reporting quality in emerging economies. Methods: This study uses a sample of firms from emerging economies that have adopted IAS. The sample includes firms from different sectors and industries. The financial reporting quality of these firms is measured using financial ratios, such as earnings quality, financial leverage, and liquidity. The data is analyzed using a regression model that controls for firm-specific factors, such as size and profitability. Results: The results show that the adoption of IAS has a positive impact on financial reporting quality in emerging economies. Specifically, firms that adopt IAS exhibit higher earnings quality and lower financial leverage compared to firms that do not adopt IAS. Additionally, the adoption of IAS has a positive impact on liquidity, suggesting that firms that adopt IAS have better access to financing. Conclusions: The findings of this study suggest that the adoption of IAS has a positive impact on financial reporting quality in emerging economies. The results indicate that IAS adoption can improve transparency and comparability of financial information, which can enhance the ability of investors to make informed investment decisions. The study contributes to the literature by providing evidence of the impact of IAS adoption in emerging economies. The findings of this study have implications for policymakers and regulators in emerging economies, as they can use this evidence to support the adoption of IAS and improve financial reporting quality in their respective countries.Keywords: accounting, international, standards, finance
Procedia PDF Downloads 842509 Weakly Non-Linear Stability Analysis of Newtonian Liquids and Nanoliquids in Shallow, Square and Tall High-Porosity Enclosures
Authors: Pradeep G. Siddheshwar, K. M. Lakshmi
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The present study deals with weakly non-linear stability analysis of Rayleigh-Benard-Brinkman convection in nanoliquid-saturated porous enclosures. The modified-Buongiorno-Brinkman model (MBBM) is used for the conservation of linear momentum in a nanoliquid-saturated-porous medium under the assumption of Boussinesq approximation. Thermal equilibrium is imposed between the base liquid and the nanoparticles. The thermophysical properties of nanoliquid are modeled using phenomenological laws and mixture theory. The fifth-order Lorenz model is derived for the problem and is then reduced to the first-order Ginzburg-Landau equation (GLE) using the multi-scale method. The analytical solution of the GLE for the amplitude is then used to quantify the heat transport in closed form, in terms of the Nusselt number. It is found that addition of dilute concentration of nanoparticles significantly enhances the heat transport and the dominant reason for the same is the high thermal conductivity of the nanoliquid in comparison to that of the base liquid. This aspect of nanoliquids helps in speedy removal of heat. The porous medium serves the purpose of retainment of energy in the system due to its low thermal conductivity. The present model helps in making a unified study for obtaining the results for base liquid, nanoliquid, base liquid-saturated porous medium and nanoliquid-saturated porous medium. Three different types of enclosures are considered for the study by taking different values of aspect ratio, and it is observed that heat transport in tall porous enclosure is maximum while that of shallow is the least. Detailed discussion is also made on estimating heat transport for different volume fractions of nanoparticles. Results of single-phase model are shown to be a limiting case of the present study. The study is made for three boundary combinations, viz., free-free, rigid-rigid and rigid-free.Keywords: Boungiorno model, Ginzburg-Landau equation, Lorenz equations, porous medium
Procedia PDF Downloads 3222508 Inheritance, Stability, and Validation of Provitamin a Markers in Striga Hermonthica-Resistant Maize
Authors: Fiston Masudi Tambwe, Lwanga Charles, Arfang Badji, Unzimai Innocent
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The development of maize varieties combining Provitamin A (PVA), high yield, and Striga resistance is an effective and affordable strategy to contribute to food security in sub-Saharan Africa, where maize is a staple food crop. There has been limited research on introgressing PVA genes into Striga-resistant maize genotypes. The objectives of this study were to: i) determine the mode of gene action controlling PVA carotenoid accumulation in Striga-resistant maize, ii) identify Striga-resistant maize hybrids with high PVA content and stable yield, and iii) validate the presence of PVA functional markers in offspring. Six elite, Striga-resistant inbred females were crossed with six high-PVA inbred males in a North Carolina Design II and their offspring were evaluated in four environments, following a 5x8 alpha lattice design with four hybrid checks. Results revealed that both additive and non-additive gene action control carotenoid accumulation in the present study, with a predominance of non-additive gene effects for PVA. Hybrids STR1004xCLHP0352 and STR1004xCLHP0046 - identified as Striga-resistant because they supported fewer Striga plants – were the highest-yielding genotypes with a moderate PVA concentration of 5.48 and 5.77 µg/g, respectively. However, those two hybrids were not stable in terms of yield across all environments. Hybrid STR1007xCLHP0046, however, supported fewer Striga plants, had a yield of 4.52 T/ha, a PVA concentration of 4.52 µg/g, and was also stable. Gel-based marker systems of CrtRB1 and LCYE were used to screen the hybrids and favorable alleles of CrtRB1 primers were detected in 20 hybrids, confirming good levels of PVA carotenoids. Hybrids with favorable alleles of LCYE had the highest concentration of non-PVA carotenoids. These findings will contribute to the development of high-yielding PVA-rich maize varieties in Uganda.Keywords: gene action, stability, striga resistance, provitamin A markers, beta-carotene hydroxylase 1, CrtRB1, beta-carotene, beta-cryptoxanthin, lycopene epsilon cyclase, LCYE
Procedia PDF Downloads 702507 Mitigation of Lithium-ion Battery Thermal Runaway Propagation Through the Use of Phase Change Materials Containing Expanded Graphite
Authors: Jayson Cheyne, David Butler, Iain Bomphray
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In recent years, lithium-ion batteries have been used increasingly for electric vehicles and large energy storage systems due to their high-power density and long lifespan. Despite this, thermal runaway remains a significant safety problem because of its uncontrollable and irreversible nature - which can lead to fires and explosions. In large-scale lithium-ion packs and modules, thermal runaway propagation between cells can escalate fire hazards and cause significant damage. Thus, safety measures are required to mitigate thermal runaway propagation. The current research explores composite phase change materials (PCM) containing expanded graphite (EG) for thermal runaway mitigation. PCMs are an area of significant interest for battery thermal management due to their ability to absorb substantial quantities of heat during phase change. Moreover, the introduction of EG can support heat transfer from the cells to the PCM (owing to its high thermal conductivity) and provide shape stability to the PCM during phase change. During the research, a thermal model was established for an array of 16 cylindrical cells to simulate heat dissipation with and without the composite PCM. Two conditions were modeled, including the behavior during charge/discharge cycles (i.e., throughout regular operation) and thermal runaway. Furthermore, parameters including cell spacing, composite PCM thickness, and EG weight percentage (WT%) were varied to establish the optimal material parameters for enabling thermal runaway mitigation and effective thermal management. Although numerical modeling is still ongoing, initial findings suggest that a 3mm PCM containing 15WT% EG can effectively suppress thermal runaway propagation while maintaining shape stability. The next step in the research is to validate the model through controlled experimental tests. Additionally, with the perceived fire safety concerns relating to PCM materials, fire safety tests, including UL-94 and Limiting Oxygen Index (LOI), shall be conducted to explore the flammability risk.Keywords: battery safety, electric vehicles, phase change materials, thermal management, thermal runaway
Procedia PDF Downloads 1442506 The Relationship between Central Bank Independence and Inflation: Evidence from Africa
Authors: R. Bhattu Babajee, Marie Sandrine Estelle Benoit
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The past decades have witnessed a considerable institutional shift towards Central Bank Independence across economies of the world. The motivation behind such a change is the acceptance that increased central bank autonomy has the power of alleviating inflation bias. Hence, studying whether Central Bank Independence acts as a significant factor behind the price stability in the African economies or whether this macroeconomic aim in these countries result from other economic, political or social factors is a pertinent issue. The main research objective of this paper is to assess the relationship between central bank autonomy and inflation in African economies where inflation has proved to be a serious problem. In this optic, we shall measure the degree of CBI in Africa by computing the turnover rates of central banks governors thereby studying whether decisions made by African central banks are affected by external forces. The purpose of this study is to investigate empirically the association between Central Bank Independence (CBI) and inflation for 10 African economies over a period of 17 years, from 1995 to 2012. The sample includes Botswana, Egypt, Ghana, Kenya, Madagascar, Mauritius, Mozambique, Nigeria, South Africa, and Uganda. In contrast to empirical research, we have not been using the usual static panel model for it is associated with potential mis specification arising from the absence of dynamics. To this issue a dynamic panel data model which integrates several control variables has been used. Firstly, the analysis includes dynamic terms to explain the tenacity of inflation. Given the confirmation of inflation inertia, that is very likely in African countries there exists the need for including lagged inflation in the empirical model. Secondly, due to known reverse causality between Central Bank Independence and inflation, the system generalized method of moments (GMM) is employed. With GMM estimators, the presence of unknown forms of heteroskedasticity is admissible as well as auto correlation in the error term. Thirdly, control variables have been used to enhance the efficiency of the model. The main finding of this paper is that central bank independence is negatively associated with inflation even after including control variables.Keywords: central bank independence, inflation, macroeconomic variables, price stability
Procedia PDF Downloads 3642505 The Differences and the Similarities between Corporate Governance Principles in Islamic Banks and Conventional Banks
Authors: Osama Shibani
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Corporate governance effective is critical to the proper functioning of the banking sector and the economy as a whole, the Basel Committee have issued principles of corporate governance inspired from Organisation for Economic Co-operation and Development (OECD), but there is no single model of corporate governance that can work well in every country; each country, or even each organization should develop its own model that can cater for its specific needs and objectives, the corporate governance in Islamic Institutions is unique and offers a particular structure and guided by a control body which is Shariah supervisory Board (SSB), for this reason Islamic Financial Services Board in Malaysia (IFSB) has amended BCBS corporate governance principles commensurate with Islamic financial Institutions to suit the nature of the work of Islamic institutions, this paper highlight these amended by using comparative analysis method in context of the differences of corporate governance structure of Islamic banks and conventional banks. We find few different between principles (Principle 1: The Board's overall responsibilities, Principles 3: Board’s own structure and practices, Principles 9: Compliance, Principle 10: Internal audit, Principle 12: Disclosure and transparency) and there are similarities between principles (Principle 2: Board qualifications and composition, Principles 4: Senior Management (composition and tasks), Principle 6: Risk Management and Principle 8: Risk communication). Finally, we found that corporate governance principles issued by Islamic Financial Services Board (IFSB) are complemented to CG principles of Basel Committee on Banking Supervision (BCBS) with some modifications to suit the composition of Islamic banks, there are deficiencies in the interest of the Basel Committee to Islamic banks.Keywords: basel committee (BCBS), corporate governance principles, Islamic financial services board (IFSB), agency theory
Procedia PDF Downloads 294