Search results for: banking policies

Authors: Muhammad Izzam Bin Mohd Khazar, Nur Adibah Binti Zainudin

Abstract:

Islamic banking as one of the financial institutions is highly required to maintain a prudent approach to ensure that any financing given is able to generate income to their respective shareholders. As the default payment of customers is probably occurred in the financing, having a prudent approach in the recovery process is a must to ensure that financing losses are within acceptable limits. The objective of this research is to provide the best practice of recovery which is anticipated to benefit both bank and customers. This study will address arising issue on the current practice of recovery process and followed by providing humanising recovery solutions in the light of the Maqasid Shariah. The study identified main issues pertaining to Islamic recovery process which can be categorized into knowledge crisis, process issues, specific treatment cases and system issues. Knowledge crisis is related to direct parties including judges, solicitors and salesperson, while the recovery process issues include the process of issuance of reminder, foreclosure and repossession of asset. Furthermore, special treatment for particular cases also should be observed since different contracts in Islamic banking products will need different treatment. Finally, issues in the system used in the recovery process are still unresolved since the existing technology is still young in this area to embraced Islamic finance requirements and nature of calculation. In order to humanize the financial services in Islamic banking recovery process, we have highlighted four main recommendation to be implemented by Islamic Financial Institutions namely; 1) early deterrent by improving the awareness, 2) improvement of the internal process, 3) reward mechanism, and 4) creative penalty to provide awareness to all stakeholders.

Keywords: humanizing financial services, Islamic Finance, Maqasid Syariah, recovery process

Procedia PDF Downloads 164

Authors: K. P. Fasalu Rahman

Abstract:

The financial services industry of Islam include large number of institutions, such as investment banks and commercial banks, investment companies and mutual insurance companies. All types of these financial institutions should have to deal with many issues and risks in their field of work. Islamic banks should expect to face two types of risks: risks that are similar to those faced by conventional financial intermediaries and risks that are unique to the Islamic Banks due to their compliance with the Shariah. The use of financial services and products that comply with the Shariah principles cause special issues for supervision and risk management. Risks are uncertain future events that could influence the achievement of the bank’s objectives, including strategic, operational, financial and compliance objectives. In Islamic banks, effective risk management deserves special attention. As an operational problem, risk management is the classification and identification of methods, processes, and risks in banks to supervise, monitor and measure them. In comparison to conventional banks, Islamic banks face big difficulties in identifying and managing risks due to bigger complexities emerging from the profit loss sharing (PLS) concept and nature of particular risks of Islamic financing. As the developing of managing risks tool becomes very essential, especially in Islamic banking as most of the products are depending on PLS principle, identifying and measuring each type of risk is highly important and critical in any Islamic finance based systems. This paper highlights the special and general risks surrounding Islamic banking. And it investigates in detail the need for risk management in Islamic banks. In addition to analyzing the effectiveness of risk management strategies adopted by Islamic financial institutions at present, this research is also suggesting strategies for improving risk management process of Islamic banks in future.

Keywords: Islamic banking, management, risk, risk management

Procedia PDF Downloads 121

Authors: Habib Alshuwaikhat, Nahid Hossain

Abstract:

Residential sector consumes more than half of the produced electricity in Saudi Arabia, and fossil fuel is the main source of energy to meet growing household electricity demand in the Kingdom. Several studies forecasted and expressed concern that unless the domestic energy demand growth is controlled, it will reduce Saudi Arabia’s crude oil export capacity within a decade and the Kingdom is likely to be incapable of exporting crude oil within next three decades. Though the Saudi government has initiated to address the domestic energy demand growth issue, the demand side energy management policies and programs are focused on industrial and commercial sectors. It is apparent that there is an urgent need to develop a comprehensive energy efficiency strategy for addressing efficient energy use in residential sector in the Kingdom. Then again as Saudi Arabia is at its primary stage in addressing energy efficiency issues in its residential sector, there is a scope for the Kingdom to learn from global energy efficiency practices and design its own energy efficiency policies and programs. However, in order to do that sustainable, it is essential to address local contexts of energy efficiency. It is also necessary to find out the policies and programs that will fit to the local contexts. Thus the objective of this study was set to identify globally best practice energy efficiency policies and programs in residential sector that have replication potential in Saudi Arabia. In this regard two sets of multi-criteria decision analysis matrices were developed to evaluate the energy efficiency policies and programs. The first matrix was used to evaluate the global energy efficiency policies and programs, and the second matrix was used to evaluate the replication potential of global best practice energy efficiency policies and programs for Saudi Arabia. Wuppertal Institute’s guidelines for energy efficiency policy evaluation were used to develop the matrices, and the different attributes of the matrices were set through available literature review. The study reveals that the best practice energy efficiency policies and programs with good replication potential for Saudi Arabia are those which have multiple components to address energy efficiency and are diversified in their characteristics. The study also indicates the more diversified components are included in a policy and program, the more replication potential it has for the Kingdom. This finding is consistent with other studies, where it is observed that in order to be successful in energy efficiency practices, it is required to introduce multiple policy components in a cluster rather than concentrate on a single policy measure. The developed multi-criteria decision analysis matrices for energy efficiency policy and program evaluation could be utilized to assess the replication potential of other globally best practice energy efficiency policies and programs for the residential sector of the Kingdom. In addition it has potential to guide Saudi policy makers to adopt and formulate its own energy efficiency policies and programs for Saudi Arabia.

Keywords: Saudi Arabia, residential sector, energy efficiency, policy evaluation

Procedia PDF Downloads 473

Authors: Romisaa Ali

Abstract:

This paper presents a comparison between twin-delayed Deep Deterministic Policy Gradient (TD3) and Soft Actor-Critic (SAC) reinforcement learning algorithms in the context of training robust navigation policies for Jackal robots. By leveraging an open-source framework and custom motion control environments, the study evaluates the performance, robustness, and transferability of the trained policies across a range of scenarios. The primary focus of the experiments is to assess the training process, the adaptability of the algorithms, and the robot’s ability to navigate in previously unseen environments. Moreover, the paper examines the influence of varying environmental complexities on the learning process and the generalization capabilities of the resulting policies. The results of this study aim to inform and guide the development of more efficient and practical reinforcement learning-based navigation policies for Jackal robots in real-world scenarios.

Keywords: Jackal robot environments, reinforcement learning, TD3, SAC, robust navigation, transferability, custom environment

Procedia PDF Downloads 58

Authors: Kanchan Negi

Abstract:

Background: Modern and urban occupational culture have driven demands for people to work long hours and weekends and take work to home at times. Research on the health effects of these exhaustive temporal work patterns is scant or contradictory. This study examines the relationship between work patterns and wellbeing in a sample of women living in the metropolitan hub of Delhi. Method: This study is based on the data collected from 360 currently married women between age 29 and 49 years, working in the urban capital hub of India, i.e., Delhi. The women interviewed were professionals from the education, health, banking and information and technology (IT) sector. Bivariate analysis was done to study the characteristics of the sample. Logistic regression analysis was used to estimate the physical and psychological wellbeing across occupational characteristics. Results: Most of the working women were below age 35 years; around 30% of women worked in the education sector, 23% in health, 21% in banking and 26% in the IT sector. Over 55% of women were employed in the private sector and only 36% were permanent employees. Nearly 30% of women worked for more than the standard 8 hours a day. The findings from logistic regression showed that compared to women working in the education sector, those who worked in the banking and IT sector more likely to have physical and psychological health issues (OR 2.07-4.37, CI 1.17-4.37); women who bear dual burden of responsibilities had higher odds of physical and psychological health issues than women who did not (OR 1.19-1.85 CI 0.96-2.92). Women who worked for more than 8 hours a day (OR 1.15, CI 1.01-1.30) and those who worked for more than five days a week (OR 1.25, CI 1.05-1.35) were more likely to have physical health issues than women who worked for 6-8 hours a day and five days e week, respectively. Also, not having flexible work timings and compensatory holidays increased the odds of having physical and psychological health issues among working women (OR 1.17-1.29, CI 1.01-1.47). Women who worked in the private sector, those employed temporarily and who worked in the non-conducive environments were more likely to have psychological health issues as compared to women in the public sector, permanent employees and those who worked in a conducive environment, respectively (OR 1.33-1.67, CI 1.09-2.91). Women who did not have poor work-life balance had reduced the odds of psychological health issues than women with poor work-life balance (OR 0.46, CI 0.25-0.84). Conclusion: Poor wellbeing significantly linked to strenuous and rigid work patterns, suggesting that modern and urban work culture may contribute to the poor wellbeing of working women. Noticing the recent decline in female workforce participation in Delhi, schemes like Flexi-timings, compensatory holidays, work-from-home and daycare facilities for young ones must be welcomed; these policies already exist in some private sector firms, and the public sectors companies should also adopt such changes to ease the dual burden as homemaker and career maker. This could encourage women in the urban areas to readily take up the jobs with less juggle to manage home and work.

Keywords: occupational characteristics, urban India, well-being, working women

Procedia PDF Downloads 180

Authors: Abdelhadi Adel, Kadri Ouahab

Abstract:

This paper proposes a hybrid algorithm for the integration of systematic preventive maintenance policies in hybrid flow shop scheduling to minimize makespan. We have implemented a problem-solving approach for optimizing the processing time, methods based on metaheuristics. The proposed approach is inspired by the behavior of the human body. This hybridization is between a multi-agent system and inspirations of the human body, especially genetics. The effectiveness of our approach has been demonstrated repeatedly in this paper. To solve such a complex problem, we proposed an approach which we have used advanced operators such as uniform crossover set and single point mutation. The proposed approach is applied to three preventive maintenance policies. These policies are intended to maximize the availability or to maintain a minimum level of reliability during the production chain. The results show that our algorithm outperforms existing algorithms. We assumed that the machines might be unavailable periodically during the production scheduling.

Keywords: multi-agent systems, emergence, genetic algorithm, makespan, systematic maintenance, scheduling, hybrid flow shop scheduling

Procedia PDF Downloads 313

Authors: Muhammad Arzim Naim, Saiful Azhar Rosly, Mohamad Sahari Nordin

Abstract:

The objective of this study is to investigate the factors affecting the rise of Shariah non-compliance risk that can bring Islamic banks to succumb to monetary loss. Prior literatures have never analyzed such risk in details despite lots of it arguing on the validity of some Shariah compliance products. The Shariah non-compliance risk in this context is looking to the potentially failure of the facility to stand from the court test say that if the banks bring it to the court for compensation from the defaulted clients. The risk may also arise if the customers refuse to make the financing payments on the grounds of the validity of the contracts, for example, when relinquishing critical requirement of Islamic contract such as ownership, the risk that may lead the banks to suffer loss when the customer invalidate the contract through the court. The impact of Shariah non-compliance risk to Islamic banks is similar to that of legal risks faced by the conventional banks. Both resulted into monetary losses to the banks respectively. In conventional banking environment, losses can be in the forms of summons paid to the customers if they won the case. In banking environment, this normally can be in very huge amount. However, it is right to mention that for Islamic banks, the subsequent impact to them can be rigorously big because it will affect their reputation. If the customers do not perceive them to be Shariah compliant, they will take their money and bank it in other places. This paper provides new insights of risks faced by credit intensive Islamic banks by providing a new extension of knowledge with regards to the Shariah non-compliance risk by identifying its individual components that directly affecting the risk together with empirical evidences. Not limited to the Islamic banking fraternities, the regulators and policy makers should be able to use findings in this paper to evaluate the components of the Shariah non-compliance risk and make the necessary actions. The paper is written based on Malaysia’s Islamic banking practices which may not directly related to other jurisdictions. Even though the focuses of this study is directly towards to the Bay Bithaman Ajil or popularly known as BBA (i.e. sale with deferred payments) financing modality, the result from this study may be applicable to other Islamic financing vehicles.

Keywords: Islamic banking, Islamic finance, Shariah Non-compliance risk, Bay Bithaman Ajil (BBA), principal axis factoring

Procedia PDF Downloads 276

Authors: Mouldi Djelassi, Jamel Boukhatem

Abstract:

Background: A relation has been established between Islamic banks' activities and interest rates. The aim of this study was to explore the impact of interest rates on the deposits and loans held by Islamic and conventional banks in Saudi Arabia. Methods: A time series data was performed over the period 2008Q1-2020Q2 on eight conventional banks and four Islamic banks. The impacts of interest rate shocks on deposits and loans were identified through panel vector autoregressive models. Results: Impulse response function analysis showed that increasing interest rates reduce loans and conventional deposits. For Islamic banks, deposits are more affected by interest rates than lending. Variance decomposition analysis revealed that deposits contribute to 61% of the Islamic financing variation and only 25% of the conventional loans. Conclusion: Interest rates impacted Islamic banks especially through deposits, which is inconsistent with the theoretical framework. Islamic deposits played an important role in Islamic financing variation and may provide to be a channel for the transmission of the monetary policy in a dual banking system. Monetary policy in Saudi Arabia works in part through “credits” (conventional bank credits) as well as through “money” (conventional and Islamic bank deposits).

Keywords: Islamic banking, interest rates, monetary policy transmission, panel VAR

Procedia PDF Downloads 78

Authors: Juhi Pandya, Elekes Zsuzsanna

Abstract:

Health is related to every aspect of human being. Even a quintal change leads to ill-health of an individual. Gender plays an eminent role in determining an individual health exposure. Political implications on health have implicit effects on the individual, societal and economical. The inclusion of gender perspective into policies have plunged enormous attention globally, nationally and locally to detract inequalities and achieve economic growth. Simultaneously, there is an initiation of policies with gender perspective which are named differently but hold similar meaning or objective. They are named gender mainstreaming policies or gender sensitization policies. Gender budgeting acts as a tool for the application of gender mainstreaming policies. It incorporates gender perspective into the budgetary process by restricting the revenues and expenditures at all level of the budget. The current study takes into account the analysis of Gender Budgeting reports in terms of healthcare from the 2014-16 year of Gujarat State, India. The expenditures and literature under the heading of gender budgeting reports named “Health and Family Welfare Department” are discussed in the paper. The data analytics is done with the help of reports published by the Gujarat government on Gender Budgeting. The results discuss upon the expenditure and initiation of new policies as a roadmap for the promotion of gender equality from the path of gender budgeting. It states with the escalation of the budgetary numbers for the health expenditure. Additionally, the paper raises the questions on the hypothetical loopholes pertaining to the gender budgeting in Gujarat. The budget reports do not show a specify explanation to the expenditure use of budget for the schemes mentioned in healthcare. It also does not clarify that how many beneficiaries are benefited through gender budget. The explanation just provides an overlook of theory for healthcare Schemes/Yojana or Abhiyan.

Keywords: gender, gender budgeting, gender equality, healthcare

Procedia PDF Downloads 314

Authors: Björn de Kruijf, Arjen Edzes, Sietske Waslander

Abstract:

In an ever-quickly changing society, lifelong development is seen as a solution to labor market problems by politicians and policymakers. In this paper, we investigate how policy instruments are used to increase participation in lifelong development and on which behavioral principles policy is based. Digitization, automation, and an aging population change society and the labor market accordingly. Skills that were once most sought after in the workforce can become abundantly present. For people to remain relevant in the working population, they need to continue adapting new skills useful in the current labor market. Many reports have been written that focus on the role of lifelong development in this changing society and how lifelong development can help keep people adapt and stay relevant. Inspired by these reports, governments have implemented a broad range of policies to support participation in lifelong development. The question we ask ourselves is how government policies promote participation in lifelong development. This stems from a complex interplay of policy instruments and learning. Regulation, economic and soft instruments can be combined to promote lifelong development, and different types of education further complex policies on lifelong development. Literature suggests that different stages in people’s lives might warrant different methods of learning. Governments could anticipate this in their policies. In order to influence people’s behavior, the government can tap into a broad range of sociological, psychological, and (behavioral) economic principles. The traditional economic assumption that behavior is rational is known to be only partially true, and the government can use many biases in human behavior to stimulate participation in lifelong development. In this paper, we also try to find which biases the government taps into to promote participation if they tap into any of these biases. The goal of this paper is to analyze government policies intended to promote participation in lifelong development. To do this, we develop a framework to analyze the policies on lifelong development. We specifically incorporate the role of learning and the behavioral principles underlying policy instruments in the framework. We apply this framework to the case of the Netherlands, where we examine a set of policy documents. We single out the policies the government has put in place and how they are vertically and horizontally related. Afterward, we apply the framework and classify the individual policies by policy instrument and by type of learning. We find that the Dutch government focuses on formal and non-formal learning in their policy instruments. However, the literature suggests that learning at a later age is mainly done in an informal manner through experiences.

Keywords: learning, lifelong development, policy analysis, policy instruments

Procedia PDF Downloads 58

Authors: Mikail Altan

Abstract:

International trust takes first place in the development of foreign trade in the country. They see an important role in ensuring that trust. Various payment methods that are developed in the banking system provide fast and reliable way to execution and promote foreign trade by financing the foreign trade. In this study, we investigate the influence of bank on foreign trade in Turkey. 26 years of data for 1990-2015 period have been used in this study. After correlation analysis, a simple regression model was established. Payment methods that are developed in the banking system make a positive contribution in Turkey’s foreign trade volume. In addition, the export of Turkey was affected positively more than import’s by these payment methods.

Keywords: banks, export, foreign trade, import

Procedia PDF Downloads 327

Authors: Mario Gómez, José Carlos Rodríguez

Abstract:

This paper analyzes innovation trends in South Korea by means of the number of patent applications filed by residents and nonresidents during the period 1965 to 2012. Making use of patent data released by the World Intellectual Property Organization (WIPO), we search for the presence of multiple structural changes in patent application series in this country. These changes may suggest that firms’ innovative activity has been modified as a result of implementing some science, technology and innovation (STI) policies. Accordingly, the new regulations implemented in this country in the last decades have influenced its innovative activity. The question conducting this research is thus how STI policies in South Korea have influenced its innovation activity. The results confirm the existence of multiple structural changes in the series of patent applications resulting from alternative STI policies implemented during these years.

Keywords: econometric methods, innovation activity, Korea, patent applications, science, technology and innovation policy, STI

Procedia PDF Downloads 291

Authors: Sabur Mollah, Asma Mobarek

Abstract:

This study aims to explore the endogenous relationship between Shari’ah governance and board governance for Islamic banks to identify complementary or substituting relationship between these governance parameters. By using a sample of 161 Islamic Banks from 24 countries for the period of 2005-2013, we show an endogenous relationship between Shari’ah Supervisory Board (SSB) and Board of Directors (BoD). In this relationship, SSB and BoD complement each other. We also show that this complementary relationship between SSB and BoD helps enhance both management and asset quality, but mitigates capital adequacy, earnings, and liquidity in Islamic banks. The study has important implications for financial stability in the Islamic banking system.

Keywords: Shari’ah Supervisory Board, Boards of Directors, Islamic banking, financial stability

Procedia PDF Downloads 157

Authors: Khalid Hassan Abdesamed, Kalsom Abd Wahab

Abstract:

Economic development and growth are significantly linked to the consistent and sustainable sector of small and medium enterprises (SMEs). Banks are the frontrunners in financing and advising SMEs. The main objective of the study is to assess the tendency of SMEs to use the Islamic bank. Model was developed using quantitative method with a hypothetical-deductive testing approach. Model (N = 364) used primary data on the tendency of SMEs to use Islamic banks gathered from questionnaire. It is found by Mann-Whitney test that the tendency to use Islamic bank varies between those firms which consider formal financing with the ones relying on informal financing with the latter tends more to use Islamic bank. This study can serve academic researchers, policy makers, and developing countries as a model of SMEs’ desirability to Islamic banking.

Keywords: formal financing, informal financing, Islamic bank, SMEs

Procedia PDF Downloads 331

Authors: Xuefan Li, Donghua Li, Juanjuan Li

Abstract:

This study explores the changes in policies toward Chinese students studying abroad in different countries during the pre-pandemic, pandemic, and post-pandemic periods. Interviews and questionnaire surveys were conducted with participating institutions at the China International Education Exhibition. The results indicate that institutions were impacted by the pandemic differently, with a gradual recovery in the two years following the initial outbreak. Institutions encourage and support Chinese students to resume offline studies during the post-pandemic period. The impact of the pandemic on the recruitment of Chinese students by international institutions varied, with different measures being adopted by different institutions. Compared with universities, colleges were more affected in terms of student employment rates. Some institutions were able to respond quickly and effectively to the pandemic due to their online teaching platforms. Overall, this study is expected to provide insights into the changes in policies toward Chinese students studying abroad during the pandemic and highlights the diverse responses of international institutions.

Keywords: international education, Chinese international education, COVID-19 pandemic, international institutions

Procedia PDF Downloads 58

Authors: Catherine Coron

Abstract:

This paper first tries to scrutinize the diverse meanings and policies of inclusive education in the United Kingdom and France in the recent period thanks to a comparative analysis of the recent literature as well as the various definitions, legislation and good practices of inclusive education. The central question is to find the links between inclusion and economic wellbeing in the economic, social and cultural context of the two countries. The first part questions the economic, social and cultural meaning of the definitions thanks to a comparison between the various perspectives to envisage the notions of inclusion and wellbeing in the two countries in order to better understand the way they are interpreted according to each cultural background. The second part analyses the various policies implemented recently in order to determine the main characteristics, the differences, and the similarities, as well as the economic challenges in terms of wellbeing. The final goal of this paper is to identify the main economic, social and cultural values as regards sustainability in each country.

Keywords: education, inclusion, students with special needs, wellbeing

Procedia PDF Downloads 282

Authors: M. Pena, J. Shin, H. Park

Abstract:

The main objective of any engineering activity is the development of a system that fulfills the specific economic, social or environmental needs. Green growth policies, as a system, targets to satisfy two main needs: economic and environmental growth. Cities are complex systems composed of varied characteristics such as differences in socio-environmental conditions and local affordability, among others. Thus, commissioned policies are required to address these differences and to ensure green development. A more maintainable and justifiable, resource-efficient green growth can be obtained in urban areas if multi-criteria framework of policies relevant to green buildings is designed. Reason is that, this approach fits to target the differences and unique conditions of urban areas. By following the principles of axiomatic design, this paper urges to derive a framework for the application of green buildings policies in urban areas with distinctive socio-economic and environmental characteristics. Functional requirements defined as principles to ensure green growth and design parameters are identified in each set of conditions. Design matrices are constructed for each group of urban areas. Thus, the understanding of the needs and differences for each group of urban areas and the methodology to ensure green buildings is achieved.

Keywords: axiomatic design, green growth, sustainable development, urban planning

Procedia PDF Downloads 324

Authors: Wesam Hamed

Abstract:

This paper contributes to the existing literature by investigating the impact of political risks on the capital adequacy ratio in the banking sector of Gulf Cooperation Council (GCC) countries, which is the first attempt for this nexus to the best of our knowledge. The dynamic panel data model (System‐GMM) showed that political risks significantly decrease the capital adequacy ratio in the banking sector. For this purpose, we used political risks, bank-specific, profitability, and macroeconomic variables that are utilized from the data stream database for the period 2005-2017. The results also actively support the “too big to fail” hypothesis. Finally, the robustness results confirm the conclusions derived from the baseline System‐GMM model.

Keywords: capital adequacy ratio, system GMM, GCC, political risks

Procedia PDF Downloads 119

Authors: Ossai Paulinus Edwin

Abstract:

Cash Management is a broad area having to do with the collection, concentration, and disbursement of cash including measuring the level of liquidity and managing the cash balance and short-Term Investments. Cash Management involves the efficient collection and disbursement of cash and cash equivalents. It also includes management of marketable securities because, in modern Terminology, money comprises marketable securities and actual cash in hand or in a bank. This cash management is concerned with management of cash inflow and cash outflow of a business especially as it concerns a developing nation like Nigeria. The paper throws light on the impact of cashless policy in Nigeria as it was introduced by the Central Bank of Nigeria (CBN) in December 2011 and was kick-started in Lagos in January 2012. Survey research was adopted with the questionnaires as data collection instrument. Responses show that cashless policy if adopted generally shall increase employment opportunities, reduce cash related robbery thereby reducing risk of carrying cash; it shall also reduce cash related corruption and attract more foreign investors to the country. It is expected that the introduction of cashless policy in Nigeria is a step in the right direction as it shall bring about modernization of Nigeria payment system, reduction in the cost of banking services, reduction in high security and safety risk and also curb banking related corruptions.

Keywords: cashless economy, cash management, cashless policy, e-banking, Nigeria

Procedia PDF Downloads 505

Authors: P. Mbecke

Abstract:

The role of the government to tangibly alleviate poverty, improve and sustain the quality of people’s lives remains a “work in progress” twenty-two years after the dawn of democracy in South Africa despite a host of socio-economic programs and pro-poor policies and legislations. This paper assesses the development process and the implementation of the White Paper on Families in South Africa as one of the pro-poor policies intended to curb poverty and redress the imbalances of the apartheid regime. The paper is the result of a qualitative implementation research theory facilitated through in-depth interviews with social work managers complemented by literature and policy review techniques. It investigates the level of basic knowledge and understanding as well as the implementation challenges of the White Paper on Families as causes of its failure. The paper emphasizes the importance of the family-centered approach in the implementation of pro-poor policies. To facilitate the understanding of the White Paper on Families by its users, the Department of Social Development needs take stock of the identified challenges of its implementation so as to facilitate its success in fostering positive family well-being that will directly contributes to the overall socio-economic development of South Africa.

Keywords: poverty alleviation, pro-poor policy, social development, social welfare, South Africa

Procedia PDF Downloads 314

Authors: Chantal Maille

Abstract:

This paper is about gender-based analysis plus (GBA+), an intersectional gender policy used in Canada to assess the impact of policies and programs for men and women from different origins. It looks at Canada’s political culture to explain the nature of its gender policies. GBA+ is defined as an analysis method that makes it possible to assess the eventual effects of policies, programs, services, and other initiatives on women and men of different backgrounds because it takes account of gender and other identity factors. The ‘plus’ in the name serves to emphasize that GBA+ goes beyond gender to include an examination of a wide range of other related identity factors, such as age, education, language, geography, culture, and income. The point of departure for GBA+ is that women and men are not homogeneous populations and gender is never the only factor in defining a person’s identity; rather, it interacts with factors such as ethnic origin, age, disabilities, where the person lives, and other aspects of individual and social identity. GBA+ takes account of these factors and thus challenges notions of similarity or homogeneity within populations of women and men. Comparative analysis based on sex and gender may serve as a gateway to studying a given question, but women, men, girls, and boys do not form homogeneous populations. In the 1990s, intersectionality emerged as a new feminist framework. The popularity of the notion of intersectionality corresponds to a time when, in hindsight, the damage done to minoritized groups by state disengagement policies in concert with global intensification of neoliberalism, and vice versa, can be measured. Although GBA+ constitutes a form of intersectionalization of GBA, it must be understood that the two frameworks do not spring from a similar logic. Intersectionality first emerged as a dynamic analysis of differences between women that was oriented toward change and social justice, whereas GBA is a technique developed by state feminists in a context of analyzing governmental policies and aiming to promote equality between men and women. It can nevertheless be assumed that there might be interest in such a policy and program analysis grid that is decentred from gender and offers enough flexibility to take account of a group of inequalities. In terms of methodology, the research is supported by a qualitative analysis of governmental documents about GBA+ in Canada. Research findings identify links between Canadian gender policies and its political culture. In Canada, diversity has been taken into account as an element at the basis of gendered analysis of public policies since 1995. The GBA+ adopted by the government of Canada conveys an opening to intersectionality and a sensitivity to multiculturalism. The Canadian Multiculturalism Act, adopted 1988, proposes to recognize the fact that multiculturalism is a fundamental characteristic of the Canadian identity and heritage and constitutes an invaluable resource for the future of the country. In conclusion, Canada’s distinct political culture can be associated with the specific nature of its gender policies.

Keywords: Canada, gender-based analysis, gender policies, political culture

Procedia PDF Downloads 204

Authors: Nazima Ellahi, Danish Ramzan

Abstract:

There is a growing trend among development economists regarding the importance of financial sector for economic development and growth activities. The development thus introduced, helps to promote welfare effects and poverty alleviation. This study is an attempt to find the nature of link between Islamic banking financing and development of output growth for Pakistan. Time series data set has been utilized for a time period ranging from 1990 to 2010. Following the Phillip Perron (PP) and Augmented Dicky Fuller (ADF) test of unit root this study applied Ordinary Least Squares (OLS) method of estimation and found encouraging results in favor of promoting the Islamic banking practices in Pakistan.

Keywords: Islamic finance, poverty alleviation, economic growth, finance, commerce

Procedia PDF Downloads 315

Authors: Asma Righi

Abstract:

After the global financial crisis of 2008, interest in ethical economics increased, particularly in the field of finance in general and commercial banks in particular. Indeed, it has become imperative for them to move from an institution that aims to make a profit to a community partner that takes the environmental aspect into account in its funding, rationalizes its decisions and adheres to ethics in its dealings. This leads it to the need of adopting the concept of ethical finance and standing on its most important principles and dimensions to realize profits on the one hand and to serve its society and its economy on the other hand. The objective of this research is centered on knowing the reality of the Algerian commercial banks’ adoption of the dimensions and principles of ethical finance. The quantitative methodology used is based on a questionnaire survey of twenty-four banking agencies in the states of Bordj Bou Arreridj and Setif. The data obtained were processed using the Statistical Package for the Social Sciences (SPSS) program. This research led to two main results: first, the author observed a limited application of the principles of ethical finance in commercial banks active in Algeria. This application is particularly in line with the implementation of the directives of the Central Bank and the imposed monetary policy. Second, the results showed that there is a significant difference in the application of ethical financial dimensions and principles between government and foreign banks.

Keywords: Algerian commercial banks, ethical banking, ethical finance, socially responsible investment

Procedia PDF Downloads 132

Authors: Anthony I. Otuonye, Juliet N. Odii, Perpetual N. Ibe

Abstract:

The obvious challenges faced by most commercial bank customers while using the services of ATMs (Automated Teller Machines) across developing countries have triggered the need for an improved system with better security features. Current ATM systems are password-based, and research has proved the vulnerabilities of these systems to heinous attacks and manipulations. We have discovered by research that the security of current ATM-assisted banking services in most developing countries of the world is easily broken and maneuvered by fraudsters, majorly because it is quite difficult for these systems to identify an impostor with privileged access as against the authentic bank account owner. Again, PIN (Personal Identification Number) code passwords are easily guessed, just to mention a few of such obvious limitations of traditional ATM operations. In this research work also, we have developed a system of fingerprint biometrics with PIN code Authentication that seeks to improve the security features of traditional ATM installations as well as other Banking Services. The aim is to ensure better security at all ATM installations and raise the confidence of bank customers. It is hoped that our system will overcome most of the challenges of the current password-based ATM operation if properly applied. The researchers made use of the OOADM (Object-Oriented Analysis and Design Methodology), a software development methodology that assures proper system design using modern design diagrams. Implementation and coding were carried out using Visual Studio 2010 together with other software tools. Results obtained show a working system that provides two levels of security at the client’s side using a fingerprint biometric scheme combined with the existing 4-digit PIN code to guarantee the confidence of bank customers across developing countries.

Keywords: fingerprint biometrics, banking operations, verification, ATMs, PIN code

Procedia PDF Downloads 15

Authors: Wisu Suntoyo, Dedy Sushandoyo

Abstract:

Innovation and digital transformation are essential for firms’ competitiveness in the digital age. The competition in Indonesia’s banking industry provides an intriguing case study for understanding how digital transformation can generate innovation in established companies. The empirical evidence of this study is mainly based on interviews and annual reports examining four established banks in their various states of digital transformation. The findings of this study reveal that banks’ digital transformations that lead to innovations differ in terms of the activities undertaken and the outcomes achieved depending on the state of advancement in which they are. Digital transformation is a complex and challenging process, and this study finds that with this strategy, established banks have shown capable of generating innovation. Banks can choose types of transformation activities that generate radical, architectural, modular, or even incremental innovations.

Keywords: digital transformation, innovations, banking industry, established banks

Procedia PDF Downloads 64

Authors: Ossai Paulinus Edwin

Abstract:

Cash Management is a broad area having to do with the collection, concentration and disbursement of cash including measuring the level of liquidity and managing the cash balance and Short-Term Investments. Cash Management involves the efficient collection and disbursement of cash and cash equivalents. It also includes management of marketable securities because, in modern Terminology, money comprises marketable securities and actual cash in hand or in a bank. This cash management is concerned with management of cash inflow and cash outflow of a business especially as it concerns a developing nation like Nigeria. The paper throws light on the impact of cashless policy in Nigeria as it was introduced by the Central Bank of Nigeria (CBN) in December 2011 and was kick started in Lagos in January 2012. Survey research was adopted with the questionnaires as data collection instrument. Responses show that cashless policy if adopted generally shall increase employment opportunities, reduce cash related robbery thereby reducing risk of carrying cash; it shall also reduce cash related corruption and attract more foreign investors to the country. It is expected that the introduction of cashless policy in Nigeria is a step in the right direction as it shall bring about modernization of Nigeria payment system, reduction in the cost of banking services, reduction in high security and safety risk and also curb banking related corruptions.

Keywords: cashless economy, cash management, cashless policy, e-banking, Nigeria

Procedia PDF Downloads 368

Authors: Cam-Duc Au, Philippe Krahnhof, Lars Klingenberger

Abstract:

German banks are experiencing harsh times due to rising costs and declining profits. On the one hand, acquisition costs for new customers are increasing because of the rise of innovative FinTechs, which entered the market with one specific goal: disrupting the whole financial services industry by occupying parts of the value chain. On the other hand, the COVID-19 pandemic, as well as an overall low level of interest rates, cause the traditional source of bank income to still drain. Consequently, traditional banks must rethink their strategies or their identity, so to speak, because they go beyond their traditional offering of products and services. Having said that, banks may create new sources of income to stabilize their economic situation and replenish profits. The given paper aims to research the opportunities of establishing an ecosystem model. In doing so, the paper contributes to the current literature debate and provide reference points for traditional banks to start. Firstly, a systematic literature review introduces a selection of research works the author regards as significant. In the following step, quantitative data from an online survey with bank clients are analysed by means of descriptive statistics to show the perspective of Germans with regards to an ecosystem offering. The final research findings indicate that the surveyed retail banking clients express interest in the new offer, whereas non-financial products and services are of lower interest than their financial pendants.

Keywords: banking, ecosystem, disruptive innovation, digital offering, open-banking-strategy, financial services industry

Procedia PDF Downloads 108

Authors: Jingjing Ye, Cijun Fan, Yan Dong

Abstract:

The development of financial sector plays an important role in shaping industrial structure. However, evidence on the micro-level channels through which this relation manifest remains relatively sparse, particularly for developing countries. In this paper, we compile an industry-by-city dataset based on manufacturing firms and registered banks in 287 Chinese cities from 1998 to 2008. Based on a difference-in-difference approach, we find the highly concentrated banking sector decreases the competitiveness of firms in each manufacturing industry. There are two main reasons: i) bank accessibility successfully fosters firm expansion within each industry, however, only for sufficiently large enterprises; ii) state-owned enterprises are favored by the banking industry in China. The results are robust after considering alternative concentration and external finance dependence measures.

Keywords: bank concentration, China, difference-in-difference, industry structure

Procedia PDF Downloads 362

Authors: Dike Ibegbulem

Abstract:

This paper interrogates the chances of Nigeria achieving its target of making the list of the first 70 countries in World Bank’s Ease of Doing Business (EoDB) rankings by the year 2023. That is, in light of existing conflicts in policies relating to the door-to-door carriage of goods and multimodal transport operations (MTOs) in the country. Drawing on the famed Legal Origins theory plus data from World Bank; and using Singapore as a touchstone, the paper unveils how amongst the top-ranked Commonwealth jurisdictions, positive correlations have been recorded over the past years between certainty in their policies on MTOs on the one hand; and their Enforcing Contracts (EC) and Doing Business (DB) indices on the other. The paper postulates that to increase Nigeria’s chances of achieving her DB2023 objective, legislative and curial policies on MTOs and door-to-door carriage of goods have to be realigned in line with prevailing policies in highly-ranked Commonwealth jurisdictions of the Global North. Her appellate courts, in particular, will need some unshackling from English pedigrees which still delimit admiralty jurisdiction to port-to-port shipping, to the exclusion of door-to-door carriage of goods beyond navigable waters. The paper identifies continental and domestic instruments, plus judicial precedents, which provide bases for expanding admiralty jurisdiction to adjudication of claims derived from door-to-door or multimodal transport contracts and other allied maritime-plus contracts. It prescribes synergy between legislative and curial policies on MTOs and door-to-door carriage of goods as species of admiralty – an emerging trend in top-ranked Commonwealth jurisdictions of the Global North.

Keywords: admiralty jurisdiction, legal origins, world bank, ease of doing business, enforcing contracts, multimodal transport operation, door-to-door, carriage of goods by sea, combined transport shipping

Procedia PDF Downloads 53

Authors: Joseph Falzon, Margaret Nelson

Abstract:

Background: Policy makers at European Union (EU) and national levels address the re-use of historic buildings calling for sustainable practices and approaches. Implementation stages of policy are crucial so that EU and national strategic objectives for historic building sustainability are achieved. Governance remains one of the key objectives to ensure resource sustainability. Objective: The aim of the research was to critically examine policies for the regeneration and adaptive re-use of historic buildings in the EU and national level, and to analyse gaps between EU and national legislation and policies, taking Malta as a case study. The impact of policies on regeneration and re-use of historic buildings was also studied. Research Design: Six semi-structured interviews with stakeholders including architects, investors and community representatives informed the research. All interviews were audio recorded and transcribed in the English language. Thematic analysis utilising Atlas.ti was conducted for the semi-structured interviews. All phases of the study were governed by research ethics. Findings: Findings were grouped in main themes: resources, experiences and governance. Other key issues included identification of gaps in policies, key lessons and quality of regeneration. Abandonment of heritage buildings was discussed, for which main reasons had been attributed to governance related issues both from the policy making perspective as well as the attitudes of certain officials representing the authorities. The role of authorities, co-ordination between government entities, fairness in decision making, enforcement and management brought high criticism from stakeholders along with time factors due to the lengthy procedures taken by authorities. Policies presented an array from different perspectives of same stakeholder groups. Rather than policy, it is the interpretation of policy that presented certain gaps. Interpretations depend highly on the stakeholders putting forward certain arguments. All stakeholders acknowledged the value of heritage in regeneration. Conclusion: Active stakeholder involvement is essential in policy framework development. Research informed policies and streamlining of policies are necessary. National authorities need to shift from a segmented approach to a holistic approach.

Keywords: adaptive re-use, historic buildings, policy, sustainable

Procedia PDF Downloads 364