Search results for: bank penetration

Authors: Michelo Obrey

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Traditionally, mutual funds have long been esteemed as stand-alone entities in the U.S. However, the prevalence of the fund families’ affiliation to financial conglomerates is eroding this striking feature. Mutual fund families' affiliation with financial conglomerates can potentially be an important source of superior performance or cost to the affiliated mutual fund investors. On the one hand, financial conglomerates affiliation offers the mutual funds access to abundant resources, better research quality, private material information, and business connections within the financial group. On the other hand, conflict of interest is bound to arise between the financial conglomerate relationship and fund management. Using a sample of U.S. domestic equity mutual funds from 1994 to 2017, this paper examines whether fund family affiliation to an investment bank help the affiliated mutual funds deliver superior performance through private material information advantage possessed by the investment banks or it costs affiliated mutual fund shareholders due to the conflict of interest. Robust to alternative risk adjustments and cross-section regression methodologies, this paper finds that the investment bank-affiliated mutual funds significantly outperform those of the mutual funds that are not affiliated with an investment bank. Interestingly the paper finds that the outperformance is confined to holding return, a return measure that captures the investment talent that is uninfluenced by transaction costs, fees, and other expenses. Further analysis shows that the investment bank-affiliated mutual funds specialize in hard-to-value stocks, which are not more likely to be held by unaffiliated funds. Consistent with the information advantage hypothesis, the paper finds that affiliated funds holding covered stocks outperform affiliated funds without covered stocks lending no support to the hypothesis that affiliated mutual funds attract superior stock-picking talent. Overall, the paper findings are consistent with the idea that investment banks maximize fee income by monopolistically exploiting their private information, thus strategically transferring performance to their affiliated mutual funds. This paper contributes to the extant literature on the agency problem in mutual fund families. It adds to this stream of research by showing that the agency problem is not only prevalent in fund families but also in financial organizations such as investment banks that have affiliated mutual fund families. The results show evidence of exploitation of synergies such as private material information sharing that benefit mutual fund investors due to affiliation with a financial conglomerate. However, this research has a normative dimension, allowing such incestuous behavior of insider trading and exploitation of superior information not only negatively affect the unaffiliated fund investors but also led to an unfair and unleveled playing field in the financial market.

Keywords: mutual fund performance, conflicts of interest, informational advantage, investment bank

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Authors: Lablali Mohammed, Mes-Adi Hassan, Mazroui M’Hammed

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To tackle the complexity of grasping atomic-scale structures and unraveling the factors affecting the development of thin films. In our work, we perform the deposition of Nb atoms on Cu substrates using the molecular dynamics simulation combined with the embedded atom method to describe the interaction between different atoms. We investigated the impact of varying deposition rates and thermal annealing processes on the microstructural, morphological, and mechanical characteristics of the deposited Nb film. Our findings reveal that Nb atom growth on the Cu substrate occurs in island mode, accompanied by the presence of nucleation phenomena during growth. On the other hand, mixing behavior was observed at the interface between the film and the substrate, where Nb penetration is initially limited to the first Cu layer, whereas Cu atoms diffuse until reaching the third layer in the Nb film. Furthermore, Nb exhibits a BCC structure, with a significant concentration observed at a rate of 5 atoms/ps, and annealing further amplifies these percentages. Deposition at different rates leads to distinct levels of compressive normal and biaxial stress.

Keywords: molecular dynamics, Nb thin film, structure and morphology, atomic penetration

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Authors: Md. Akiz Uddin

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This research attempted to identify the determining factors that extensively persuaded customers of the First Security Islamic Bank Limited (FSIBL) to open accounts and their perception and satisfaction level towards it. Initially, a theoretical model was established based on existing literature reviews. After that, a self-administered structured questionnaire was developed, and data were collected from 180 customers of the FSIBL of Bangladesh using purposive sampling technique. The collected data were later analyzed through a statistical software. Structural Equation Modelling (SEM) was used to verify the model of the study and test the hypotheses. The study particularly examined the determinants of opening accounts, customers’ perception and their satisfaction level towards the bank on several factors like the bank’s compliance with Shariah law, use of modern technology, assurance, reliability, empathy, profitability, and responsiveness. To examine the impact of religious belief on being FSIBL clients, the study also investigates non-Muslim clients’ perception about FSIBL. The study focused on FSIBL customers only from five branches of Dhaka city. The study found that the religious beliefs is the most significant factors for Muslim customers for considering FSIBL to open an account, and they are satisfied with the services, too. However, for non-Muslim customers, other benefits like E-banking, various user-friendly services are the most significant factors for choosing FSIBL. Their satisfaction level is also statistically significant. Furthermore, even if the non- Muslim customers didn’t consider religious beliefs as determinant factors for choosing FSIBL, the respondents informed that they have trust that people who believe in shariah law are more reliable to keep money with them. These findings open up the avenue for future researchers to conduct more study in this area through employing a larger sample size and more branches and extending the current model by incorporating new variables. The study will be an important addition to the potentials of Islamic banking system, literature of service quality and customer satisfaction level, particularly in the success of Islamic banking system in Bangladesh.

Keywords: islamic banking, customers’ satisfaction, customers’ perception, shariah law

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Authors: Louati Salma, Louhichi Awatef, Boujelbene Younes

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Analysis of the trade-off between competition and financial stability has been at the center of academic and policy debate for over two decades and especially since the 2007-2008 global financial crises. We use information on 10 OIC countries from 2005 to 2014 to investigate the influence of bank competition on individual bank stability and risk-taking. Alternatively, we explore whether the quality of prudential regulation may affect the nexus between competition and banking stability/risk-taking. We provide a particular attention to the Islamic banking system which principally involves with the Riba-free instruments as compared to the conventional interest-based system. We first run a dynamic panel regression (GMM), and then we apply a panel vector autoregressive (PVAR) methodology to compare both banking business models.

Keywords: Lerner index, Islamic banks, non-performing loans, prudential regulations, z-score

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Authors: Camille Paldi

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The tense dichotomy between Shari’ah compliance and the economic goals of an Islamic Bank produces a proliferation of reverse engineered products, which are barely in compliance with Islamic law. The result is basically a hybrid conventional banking system with conventional products in Islamic disguise using Arabic and Islamic terminology. Many Islamic financial professionals and academics advocate for the use of conventional products and devices despite their non-Shari’ah compliance based on commercial necessity and the need to compete. However, this dangerous trend will lead to the demise of the Islamic finance industry. Rather than thoughtlessly following conventional products and practice, Islamic finance professionals should delve into the Shari’ah to find the answers to the current Islamic banking conundrum and lead the industry on the right path of developing Shari’ah based products and using Shari’ah devices to hedge risk.

Keywords: Islamic banking, Shari'ah, finance, investment

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Authors: E.A. Kuchma

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Photodynamic therapy (PDT) is considered an alternative and minimally invasive cancer treatment modality compared to chemotherapy and radiation therapy. PDT includes three main components: a photosensitizer (PS), oxygen, and a light source. PS is injected into the patient's body and then selectively accumulates in the tumor. However, the light used in PDT (spectral range 400–700 nm) is limited to superficial lesions, and the light penetration depth does not exceed a few cm. The problem of PDT (poor visible light transmission) can be solved by using X-rays. The penetration depth of X-rays is ten times greater than that of visible light. Therefore, X-ray radiation easily penetrates through the tissues of the body. The aim of this work is to develop universal nanocomposites for X-ray photodynamic therapy of deep and superficial tumors using scintillation nanoparticles of gadolinium fluoride (GdF3), doped with Tb3+, coated with a biocompatible coating (PEG) and photosensitizer RB (Rose Bengal). PEG@GdF3:Tb3+(15%) – RB could be used as an effective X-ray, UV, and photoluminescent mediator to excite a photosensitizer for generating reactive oxygen species (ROS) to kill tumor cells via photodynamic therapy. GdF3 nanoparticles can also be used as contrast agents for computed tomography (CT) and magnetic resonance imaging (MRI).

Keywords: X-ray induced photodynamic therapy, scintillating nanoparticle, radiosensitizer, photosensitizer

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Authors: Md. Awal Hossain Mollah

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Corporate governance is playing a crucial role for ensuring social accountability and responsibility of business organization through Corporate Social Responsibility (CSR) for the last two decades. In Bangladesh, CSR is a growing and popular concept and a recent development. Various business and corporate organizations are playing crucial role for helping vulnerable sections of our society now. For instance, Dutch Bangla Bank has been providing scholarship for under graduate and graduate students in our country which is very helpful for promoting poor and meritorious students in Bangladesh. In this study, how far CSR is playing its role for ensuring human right in Bangladesh will be examined with specific case studies. The study focus will reflect on both developed and developing nations based on literature review and possible empirical evidence.

Keywords: CSR, corporate governance, social security, Bangladesh, scholarships, graduate students, Dutch angla Bank

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Authors: Ismail Akkaya, Mucip Tapan, Ali Ozvan

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Some of the industrially prefabricated buildings located on clayey soils were damaged due to soil conditions. The reasons of these damages are generally due to different settlement capacity, the different plasticity of soils and the level of ground water. The aim of this study is to determine the source of these building damages by conducting in situ tests. Therefore, pressuremeter test, which is one of the borehole loading test conducted to determine the properties of soils under the foundations and Standart Penetration Test (SPT). The results of these two field tests were then used to accurately obtain the consistency and firmness of soils. Pressuremeter Deformation Module (EM) and Net Limiting Pressure (PL) of soils were calculated after the pressuremeter tests. These values were then compared with the SPT (N30) and SPT (N60) results. An empirical equation was developed to obtain EM and PL values of such soils from SPT test results. These values were then used to calculate soil bearing capacity as well as the soil settlement. Finally, the relationship between the foundation settlement and the damage of these buildings were checked. It was found that calculated settlement values were almost the same as measured settlement values.

Keywords: damaged building, pressuremeter, standard penetration test, low and high plasticity clay

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Authors: Fauzi Jarushi, Sinan Mohsin AlKaabi

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The Standard Penetration Test (SPT) is the most common insitu test for soil investigations. On the other hand, the Cone Penetration Test (CPT) is considered one of the best investigation tools. Due to the fast and accurate results that can be obtained it complaints the SPT in many applications like field explorations, design parameters, and quality control assessments. Many soil index and engineering properties have been correlated to both of SPT and CPT. Various foundation design methods were developed based on the outcome of these tests. Therefore it is vital to correlate these tests to each other so that either one of the tests can be used in the absence of the other, especially for preliminary evaluation and design purposes. The primary purpose of this study was to investigate the relationships between the SPT and CPT for different types of soil in Florida. Data for this research were collected from number of projects sponsored by the Florida Department of Transportation (FDOT), six sites served as the subject of SPT-CPT correlations. The correlations were established between the cone resistance (qc) and the SPT blows (i.e., N) for various soils. A positive linear relationship was found between fs and N for various soils. In general, qc versus N showed higher correlation coefficients than fs versus N. qc/N ratios were developed for different soil types and compared to literature values, the results of this research revealed higher ratios than literature values.

Keywords: in situ tests, correlation, SPT, CPT

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Authors: Seyda Can, Meryem Unulu

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Objective: Breast milk is the most fundamental nutritional element for the healthy growth and development of newborns as they supply all the necessary components. Various obstacles such as diseases of mother and child, allergies of the baby, and insufficient breastmilk affect breast-feeding adversely. The wet nursery or breast milk banking is the most important source in providing the nutrients closest to the ideal for the newborn. Despite increasing opinions about its benefits, breast milk banking practice is controversial because of reasons such as ethical problems, traditional beliefs and attitudes, security concerns of families and lack of knowledge. It is thought that the results of this study will create the data for studies to raise the awareness of the society regarding wet nursery, and milk banks. Method: The study was planned and performed in descriptive type. The population of the study consists of mothers that gave birth between October-November 2017 in a public hospital in Turkey, and the sample consisted of 205 mothers chosen by improbable sampling method from the population and accepted to participate in the study. While gathering data, a survey consisting of 33 questions designed to determine the socio-demographic characteristics and their views on wet nursery and breast milk banking. Written ethical committee and institution permit was taken. Before the interview, participants were informed about the purpose and content of the study and oral permit was taken. Result: When the distribution of 205 mothers according to their individual characteristics, it was detected that their age average was 28,16±5,23 and 63,4 of mothers (n=130) had normal delivery. It was determined that clear majority of mothers, 75,6% (n=155) had no breast-feeding problems and 75,1% (n=154) fed the baby only with breast milk. It was detected that 18,5% (n=38) would accept a stranger to be a wet nurse and 60% (n=123) would donate milk if there is a breast milk bank. It was detected 33,2 % (n=68) of participant mothers want to make use of breast milk bank if there is a situation that prevents breast feeding, 38,5 % (n=79) of mothers think breast milk bank would be problematic religiously. Statistical difference was detected between the educational status of women and the rate of wanting breast milk bank practice. As the educational status of mothers increased, their rate of wanting breast milk bank practice increased. Conclusion: It is essential that every baby is breastfed by its mother primarily. However, when this is not possible, in order to implement wet nursery and breast milk banking as an extension of national breast-feeding policy, regulations need to be made and worries should be eased. Also, organizing training programs are also really important to raise awareness of the society and mothers.

Keywords: breast feeding, breast milk, milk banks, wet nursery

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Authors: Ernest C. Nwadinobi, Amanda Peart, Carl Adams

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The leading countries like the USA, UK and some of the European countries have moved their focus away from just developing the e-government platform towards just the electronic services which aim at providing access to information to its citizens or customers, but they have gone to make significant backroom changes that can accommodate this electronic service being provided to its customers or citizens. E-government has moved from just providing electronic information to citizens and customers alike to serving their needs. In developing countries like Nigeria, the enablement of e-government is being used as an anti-corruption tool. The introduction of the Bank verification number (BVN) scheme by the Central Bank of Nigeria, has helped the government in not just saving money but also protecting customer’s transaction and enhancing confidence in the banking sector. This has helped curtail the high rate of cyber and financial crime that has been part of the system. The use of BVN as an anti-corruption tool in Nigeria came at a time there was need for openness, accountability, and discipline, after years of robbing the treasury and recklessness in handling finances. As there has not been a defined method for measuring the strength or success of e-government development, in this case BVN, in Nigeria, progress will remain at the same level. The implementation strategy of the BVN in Nigeria has mostly been a quick fix, quick win solution. In fact, there is little or no indication to show evidence of a framework for e-government. Like other leading countries, there is the need for proper implementation of strategy and framework especially towards a customer orientated process, which will accommodate every administrative body of the government institution including private business rather than focusing on a non-flexible organisational structure. The development of e-government must have a strategy and framework for it to work, and this strategy must enclose every public administration and will not be limited to any individual bodies or organization. A defined framework or monitoring method must be put in place to help evaluate and benchmark government development in e-government. This framework must follow the same concept or principles. In censorious analyses of the existing methods, this paper will denote areas that must be included in the existing approach to be able to channel e-government development towards its defined strategic objectives.

Keywords: Bank Verification No (BVN), quick-fix, anti-corruption, quick-win

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Authors: Prince Igor Itoua, Daquan Sun, Shihui Shen

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This study aimed at investigating the properties of asphalt and mix asphalt based on the effects of waste toner sources (WT1 and WT2) with 8% dosage waste toner powders (WT). The test results included penetration, softening points, ductility, G*sinδ, G*/sinδ, Ideal cracking test(IDEAL-CT), and Ideal shear rutting test(IDEAL-RT). The results showed that the base binder with WT2 had a significantly higher viscosity value compared to the WT1 modified binder, and thus, higher energy for mixing and compaction is needed. Fur-thermore, the results of penetration, softening points, G*sinδ, and G*/sinδ were all affected by waste toner type. In terms of asphalt mixture, the IDEAL-RT test revealed that the addition of waste toner improved the rutting resistance of the asphalt mixture regardless of toner type. Further, CTindex values for waste toner-modified asphalt mixtures show no significant difference. Above all, WT-modified asphalt mixtures produced by the wet process have better rutting performance.

Keywords: waste toner, waste toner modified asphalt, asphalt mixture properties, IDEAL-RT test, IDEAL-CT test

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Authors: Aradhna Pandarum

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South Africa is experiencing an exponential growth of distributed solar PV installations. This is due to various factors with the predominant one being increasing electricity tariffs along with decreasing installation costs, resulting in attractive business cases to some end-users. Despite there being a variety of economic and environmental advantages associated with the installation of PV, their potential impact on distribution grids has yet to be thoroughly investigated. This is especially true since the locations of these units cannot be controlled by Network Service Providers (NSPs) and their output power is stochastic and non-dispatchable. This report details two case studies that were completed to determine the possible voltage and technical losses impact of increasing PV penetration in the Northern Cape of South Africa. Some major impacts considered for the simulations were ramping of PV generation due to intermittency caused by moving clouds, the size and overall hosting capacity and the location of the systems. The main finding is that the technical impact is different on a constrained feeder vs a non-constrained feeder. The acceptable PV penetration level is much lower for a constrained feeder than a non-constrained feeder, depending on where the systems are located.

Keywords: medium voltage networks, power system losses, power system voltage, solar photovoltaic

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Authors: Abidemi C. Adegboye, Samuel Iweriebor

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The primary link between financial institutions and economic performance is the provision of resources by these institutions to businesses in order to drive enterprise expansion, sustainability, and development. In this study, the role of access to finance in driving innovations and productivity in Nigerian SMEs is investigated using the World Bank Enterprise Survey (ES) dataset. Innovation is defined based on the ES analysis using five compositions including product, method, organisational, use of foreign-licensed technology, and spending on R&D. The study considers finance in terms of source in meeting investment needs and in terms of access. Moreover, finance access is categorized as external and internal to a firm with each having different implications. The research methodology adopted a survey analysis based on the 2014 World Bank Enterprise Survey of 19 states in Nigeria. The survey comprised over 10,000 manufacturing and services firms, both at the small scale and medium scale levels. The logit estimation technique is used to estimate the relationships in the study. The results from the empirical analysis show that in general, access to finance drives SME innovation in Nigeria. In particular, ease of accessing bank loans and credit is shown to be the strongest positive force in driving all types of innovation among SMEs in Nigeria. In the same vein, the type of finance source for investment matters in terms of how it affects innovation: it is shown that both internal and external sources improve investment in product, process, and organisational innovation, but only external financing has effect on R&D spending and use of foreign licensed technology. Overall spending on R&D is only driven by access to external finance by the SMEs. For productivity, the results show that while structure of financing investment improves productivity, increased access to finance may actually lead to productivity decline among SMEs in Nigeria. There is a need for the financial system to evolve structures to increase fund availability to SMEs in Nigeria, especially for the purpose of innovation investment.

Keywords: access to finance, financing investment, innovation, productivity, SMEs

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Authors: Melake Kuflom

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European power networks involve the use of multiple overhead transmission lines to construct a highly duplicated system that delivers reliable and stable electrical energy to the distribution level. The transmission line protection applied in the existing GB transmission network are normally independent unit differential and time stepped distance protection schemes, referred to as main-1 & main-2 respectively, with overcurrent protection as a backup. The increasing penetration of renewable energy sources, commonly referred as “weak sources,” into the power network resulted in the decline of fault level. Traditionally, the fault level of the GB transmission network has been strong; hence the fault current contribution is more than sufficient to ensure the correct operation of the protection schemes. However, numerous conventional coal and nuclear generators have been or about to shut down due to the societal requirement for CO2 emission reduction, and this has resulted in a reduction in the fault level on some transmission lines, and therefore an adaptive transmission line protection is required. Generally, greater utilization of renewable energy sources generated from wind or direct solar energy results in a reduction of CO2 carbon emission and can increase the system security and reliability but reduces the fault level, which has an adverse effect on protection. Consequently, the effectiveness of conventional protection schemes under low fault levels needs to be reviewed, particularly for future GB transmission network operating scenarios. The proposed paper will evaluate the transmission line challenges under high penetration of renewable energy sources andprovides alternative viable protection solutions based on the problem observed. The paper will consider the assessment ofrenewable energy sources (RES) based on a fully rated converter technology. The DIgSILENT Power Factory software tool will be used to model the network.

Keywords: fault level, protection schemes, relay settings, relay coordination, renewable energy sources

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Authors: Alicja Reuben, Amira Annabi

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In this paper, we explore the relationship between the selection of valuation techniques by investment banks and the banks’ risk perceptions and performance in the context of the theory of performativity. We use inferential statistics to study these relationships by building a unique dataset based on the disclosure of 12 investment banks’ 2012-2015 annual financial statements. Moreover, we create two constructs, namely intensity of use and risk perception. We measure the intensity of use as a frequency metric of how often a particular bank adopts valuation techniques for a particular asset or liability. We measure risk perception based on disclosed ranges of values for unobservable inputs. Our results are twofold: we find a significant negative correlation between (1) intensity of use and investment bank performance and (2) intensity of use and risk perception. These results indicate that a performative process takes place, and the valuation techniques are enacting their environment.

Keywords: language, linguistics, performativity, financial techniques

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Authors: A. Rahaf, S. Liyakathunsia

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In today’s world, unprecedented operational pressure is faced by banks that test the efficiency, effectiveness, and agility of their business processes. In a typical banking process, a person’s authorization is usually based on his signature on most all of the transactions. Signature verification is considered as one of the highly significant information needed for any bank document processing. Banks usually use Signature Verification to authenticate the identity of individuals. In this paper, a business process model has been proposed in order to increase the quality of the verification process and to reduce time and needed resources. In order to understand the current process, a survey has been conducted and distributed among bank employees. After analyzing the survey, a process model has been created using Bizagi modeler which helps in simulating the process after assigning time and cost of it. The outcomes show that the automation of signature verification process is highly recommended for a banking business process.

Keywords: business process management, process modeling, quality, Signature Verification

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Authors: Amira Kaddour, Hedia Teraoui, Khmayes Bougatef

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The main purpose of this paper is to determine the major causes of the underdevelopment of Islamic finance in Tunisia. Indeed, it’s surprising to note that Zitouna bank established in May 2010 is the first Islamic Tunisian bank although 99% of Tunisians are Muslim and Islam is the religion of the State according to the Constitution. So we rely in our paper on the opinions of number of professors of finance and economics as educated people to prove or reject our hypothesis that the underdevelopment of Islamic finance in Tunisia can be explained by the ignorance of its main principles and advantages. Ours findings reveal that this branch of finance is still largely unknown, not only from public but also from professionals. The results obtained surprisingly show that this insignificance of Islamic banking cannot be explained by the fact that Tunisia has been governed since its independence by a secular left-wing party. Indeed, only 3% of respondents believe that legislation and regulation in Tunisia represent an obstacle to the development of Islamic finance. Moreover, respondents are not very optimistic about the future role of Islamic financing.

Keywords: Islamic banking, Islamic insurance (takaful), Islamic law (shariah), usury (riba)

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Authors: Rimon Rafiah

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This paper will present a combination of two seemingly unrelated models, which are the one for estimating economic development impacts as a result of transportation investment and the other for increasing CAV penetration in order to reduce congestion. Measuring economic development impacts resulting from transportation investments is becoming more recognized around the world. Examples include the UK’s Wider Economic Benefits (WEB) model, Economic Impact Assessments in the USA, various input-output models, and additional models around the world. The economic impact model is based on WEB and is based on the following premise: investments in transportation will reduce the cost of personal travel, enabling firms to be more competitive, creating additional throughput (the same road allows more people to travel), and reducing the cost of travel of workers to a new workplace. This reduction in travel costs was estimated in out-of-pocket terms in a given localized area and was then translated into additional employment based on regional labor supply elasticity. This additional employment was conservatively assumed to be at minimum wage levels, translated into GDP terms, and from there into direct taxation (i.e., an increase in tax taken by the government). The CAV model is based on economic principles such as CAV usage, supply, and demand. Usage of CAVs can increase capacity using a variety of means – increased automation (known as Level I thru Level IV) and also by increased penetration and usage, which has been predicted to go up to 50% by 2030 according to several forecasts, with possible full conversion by 2045-2050. Several countries have passed policies and/or legislation on sales of gasoline-powered vehicles (none) starting in 2030 and later. Supply was measured via increased capacity on given infrastructure as a function of both CAV penetration and implemented technologies. The CAV model, as implemented in the USA, has shown significant savings in travel time and also in vehicle operating costs, which can be translated into economic development impacts in terms of job creation, GDP growth and salaries as well. The models have policy implications as well and can be adapted for use in Japan as well.

Keywords: CAV, economic development, WEB, transport economics

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Authors: Javad Sadoghi Yazdi, Robb Eric S. Moss

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This paper utilizes a probabilistic liquefaction triggering method for modeling post-liquefaction ground deformation. This cone penetration test CPT-based liquefaction triggering is employed to estimate the factor of safety against liquefaction (FSL) and compute the maximum cyclic shear strain (γmax). The study identifies a maximum PL value of 90% across various relative densities, which challenges the decrease from 90% to 70% as relative density decreases. It reveals that PL ranges from 5% to 50% for volumetric strain (εvol) less than 1%, while for εvol values between 1% and 3.2%, PL spans from 50% to 90%. The application of the CPT-based simplified liquefaction triggering procedures has been employed in previous researches to estimate liquefaction ground-failure indices, such as the Liquefaction Potential Index (LPI) and Liquefaction Severity Number (LSN). However, several studies have been conducted to highlight the variability in liquefaction probability calculations, suggesting a more accurate depiction of liquefaction likelihood. Consequently, the utilization of these simplified methods may not offer practical efficiency. This paper further investigates the efficacy of various established liquefaction vulnerability parameters, including LPI and LSN, in explaining the observed liquefaction-induced damage within residential zones of Christchurch, New Zealand using results from CPT database.

Keywords: cone penetration test (CPT), liquefaction, postliquefaction, ground failure

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Authors: Sobar M. Johari, Ida Putri Anjarsari

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In the transmission of monetary instrument towards real sector of the economy, Bank Indonesia as monetary authority has developed Islamic Bank Indonesia Certificate (abbreviated as SBIS) as an instrument in Islamic open market operation. One of the monetary transmission channels could take place through financing channel from which the fund is used as the source of banking financing. This study aims to analyse the impact of Islamic monetary instrument towards output or economic growth. Data used in this research is taken from Bank Indonesia and Central Board of Statistics for the period of January 2008 until December 2015. The study employs Granger Causality Test, Vector Error Correction Model (VECM), Impulse Response Function (IRF) technique and Forecast Error Variance Decomposition (FEVD) as its analytical methods. The results show that, first, the transmission mechanism of banking financing channel are not linked to output. Second, estimation results of VECM show that SBIS, PUAS, and FIN have significant impact in the long term towards output. When there is monetary shock, output or economic growth could be recovered and stabilized in the short term. FEVD results show that Islamic banking financing contributes 1.33 percent to increase economic growth.

Keywords: Islamic monetary instrument, Islamic banking financing channel, economic growth, Vector Error Correction Model (VECM)

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Authors: Hannes Koester

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Driven by difficult market conditions and increasing regulations, many banks are making the strategic decision to restructure their portfolio by divesting several business segments. Using a unique dataset of 727 portfolio restructuring announcements by 161 international listed banks over the period 1999 to 2015, we investigate the impact of restructuring measurements on the stock performance as well as on the banks’ profitability and risk. Employing the event study methodology, we detect positive stock market reactions on the announcement of restructuring measurements. These positive stock market reactions indicate that shareholders reward banks’ specialization activities. However, the results of the system GMM regressions show a negative relation between restructuring measurements and banks’ return on assets and a positive relation towards the individual and systemic risk of banks. These empirical results indicate that there is no guarantee that portfolio restructurings will result in a more profitable and less risky institution.

Keywords: bank performance, bank risk, divestiture, restructuring, systemic risk

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Authors: Md. Arifur Rahman, Ummya Salma, Nazrul Islam

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Private sector banking business is one of the leading businesses of Bangladesh as it is profitable and directly attached with the economic development of the country. Training has got very high importance in this sector for increasing the performance of the banks. It has a long term impact on a number of aspects of the bank employees and their performances. It is an investment of the organization that is permanent in nature. Study shows that there are positive relationships between training and the employee commitment, job retention, job satisfaction and company performance. Training is also concerned with promotion, compensation, work-life policies, career development, task and contextual performance of the employees. As such, this paper aims at identifying the impact of training on employee commitment, job retention, job satisfaction and the performance of the private sector banks in Bangladesh. Both primary and secondary data were used to conduct the study. Data were collected from the bank officers who were trained in their banks. Both descriptive and inferential statistics were used to analyze the data. Descriptive statistics were used to describe the present situation of the banks and their employees. Inferential statistics were used to identify the factors and their significance concerned with training. Results show that there is a significant relationship between the performance and the training of the employees. It also shows that the training can motivate employees and encourage them to work hard. However, this study did not find any relationship between the commitment of the employees and the training. This study suggests that for increasing the performance of the banks, training is a must which is to be given deliberately for improving the specific skills of the bank employees.

Keywords: training, promotion, compensation, work-life policies

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Authors: Asma Ammar

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Being different in theory and practice from their conventional counterparts, this research aims to assess the performance of Islamic banks beyond the financial performance by emphasizing their ethical and social identity based on the higher purposes of Islamic law, namely Maqasid al-Shariah. Using Imam al-Ghazali’s theory of Maqasid al-Shariah and Sekaran’s (2000) method, we develop a Maqasid-based index including the five objectives of Shariah (preservation of life, religion, intellect, posterity, and wealth). Our sample covers 9 Islamic banks considered among the largest Islamic banks in the world. For the five years of study (2017-2021), our results reveal that the highest score is performed by Bank Muamalat while the least score is given to Dubai Islamic Bank. The overall Maqasid performance of the sample is unimpressive, indicating that there is a lack of achievement in Maqasid al-Shariah performance of Islamic banks. Consequently, serious measures should be taken by Islamic banks to improve their Maqasid performance and thus contribute effectively to the socio-economic development of the countries in which they operate.

Keywords: Maqasid al-Shariah, Maqasid al-Shariah index, Islamic banks, performance assessment

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Authors: Vatsal Patel, Niraj Shah

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This paper presents the results of a laboratory study on the properties of binary blended High Performance cementitious systems containing blends of ordinary Portland cement (OPC), Porcelain Powder or Marble Powder blend proportions of 100:00, 95:05, 90:10, 85:15, 80:20 for OPC: Porcelain Powder/Marble Powder. Studies on the Engineering Properties of the cementitious concrete, namely compressive strength, flexural strength, sorptivity, rapid chloride penetration test and accelerated corrosion test have been performed and those of OPC concrete. The results show that the inclusion of Porcelain powder or Marble Powder as binary blended cement alters to a great degree the properties of the binder as well as the resulting concrete. In addition, the results show that the Porcelain powder with 85:15 proportions and Marble powder with 90:10 proportions as binary systems to produce high-performance concrete could potentially be used in the concrete construction industry particular in lowering down the volume of OPC used and lowering emission of CO2 produces during manufacturing of cement.

Keywords: accelerated corrosion, binary blended cementitious system, rapid chloride penetration, sorptivity

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Authors: Saiyed M Ishtiaque, Priyal Dixit

Abstract:

Objectives: An approach is being suggested to design the filter media to maximize the filtration efficiency with minimum possible pressure drop of composite nonwoven by incorporating the layers of different packing densities induced by fibre of different deniers and punching parameters by using the concept of sequential punching technique in specific order in layered composite nonwoven structure. X-ray computed tomography technique is used to measure the packing density along the thickness of layered nonwoven structure composed by placing the layer of differently oriented fibres influenced by fibres of different deniers and punching parameters in various combinations to minimize the pressure drop at maximum possible filtration efficiency. Methodology Used: This work involves preparation of needle punched layered structure with batts 100g/m2 basis weight having fibre denier, punch density and needle penetration depth as variables to produce 300 g/m2 basis weight nonwoven composite. X-ray computed tomography technique is used to measure the packing density along the thickness of layered nonwoven structure composed by placing the layers of differently oriented fibres influenced by considered variables in various combinations. to minimize the pressure drop at maximum possible filtration efficiencyFor developing layered nonwoven fabrics, batts made of fibre of different deniers having 100g/m2 each basis weight were placed in various combinations. For second set of experiment, the composite nonwoven fabrics were prepared by using 3 denier circular cross section polyester fibre having 64 mm length on needle punched nonwoven machine by using the sequential punching technique to prepare the composite nonwoven fabrics. In this technique, three semi punched fabrics of 100 g/m2 each having either different punch densities or needle penetration depths were prepared for first phase of fabric preparation. These fabrics were later punched altogether to obtain the overall basis weight of 300 g/m2. The total punch density of the composite nonwoven fabric was kept at 200 punches/ cm2 with a needle penetration depth of 10 mm. The layered structures so formed were subcategorised into two groups- homogeneous layered structure in which all the three batts comprising the nonwoven fabric were made from same denier of fibre, punch density and needle penetration depth and were placed in different positions in respective fabric and heterogeneous layered structure in which batts were made from fibres of different deniers, punch densities and needle penetration depths and were placed in different positions. Contributions: The results concluded that reduction in pressure drop is not derived by the overall packing density of the layered nonwoven fabric rather sequencing of layers of specific packing density in layered structure decides the pressure drop. Accordingly, creation of inverse gradient of packing density in layered structure provided maximum filtration efficiency with least pressure drop. This study paves the way for the possibility of customising the composite nonwoven fabrics by the incorporation of differently oriented fibres in constituent layers induced by considered variablres for desired filtration properties.

Keywords: filtration efficiency, layered nonwoven structure, packing density, pressure drop

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Authors: Sirus Sharifi, Arunima Haldar, S. V. D. Nageswara Rao

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The study attempts to analyze the impact of credit risk management practices of Indian scheduled commercial banks on their non-performing assets (NPAs). The data on credit risk practices was collected by administering a questionnaire to risk managers/executives at different banks. The data on NPAs (from 2012 to 2016) is sourced from Prowess, a database compiled by the Centre for Monitoring Indian Economy (CMIE). The model was estimated using cross-sectional regression method. As expected, the findings suggest that there is a negative relationship between credit risk management and NPA growth in Indian banks. The study has implications for Indian banks given the high level of losses, and the implementation of Basel III norms by the central bank, i.e. Reserve Bank of India (RBI). Evidence on credit risk management in Indian banks, and their relationship with non-performing assets held by them.

Keywords: credit risk, identification, Indian Banks, NPAs, ownership

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Authors: Oktavia Eka Puspita

Abstract:

The possibility of using Solid Lipid Nanoparticles (SLN) for topical use is an interesting feature concerning this system has occlusive properties on the skin surface therefore enhance the penetration of drugs through the stratum corneum by increased hydration. This advantage can be used to enhance the drug penetration of topical delivery such as Diclofenac sodium for the relief of signs and symptoms of osteoarthritis, rheumatoid arthritis and ankylosing spondylitis. The purpose of this study was focused on the preparation and physical characterization of Diclofenac sodium loaded SLN (D-SLN). D loaded SLN were prepared by hot homogenization followed by ultrasonication technique. Since the occlusion factor of SLN is related to its particle size the formulation of D-SLN in present study two formulations different in its surfactant contents were prepared to investigate the difference of the particle size resulted. Surfactants selected for preparation of formulation A (FA) were lecithin soya and Tween 80 whereas formulation B (FB) were lecithin soya, Tween 80, and Sodium Lauryl Sulphate. D-SLN were characterized for particle size and distribution, polydispersity index (PI), zeta potential using Beckman-Coulter Delsa™ Nano. Overall, the particle size obtained from FA was larger than FB. FA has 90% of the particles were above 1000 nm, while FB has 90% were below 100 nm.

Keywords: solid lipid nanoparticles, hot homogenization technique, particle size analysis, topical administration

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Authors: Howaidi M. Al-Otaibi, Abdulrahman S. Al-Suhaibani, Hamad A. Alsoliman

Abstract:

Fibers are extensively used in civil engineering applications for many years. In this study, empty fruit bunch of date palm trees were used to produce cellulose fiber that were used as additives in the asphalt binder. Two sizes (coarse and fine) of cellulose fibers were pre-blended in PG64-22 binder with various contents of 1.5%, 3%, 4.5%, 6%, and 7.5% by weight of asphalt binder. The physical and rheological properties of fiber modified asphalt binders were tested by using conventional tests such as penetration, softening point and viscosity; and SHRP test such as dynamic shear rheometer. The results indicated that the fiber modified asphalt binders were higher in softening point, viscosity, and complex shear modulus, and lower in penetration compared to pure asphalt. The fiber modified binders showed an improvement in rheological properties since it was possible to raise the control binder (pure asphalt) PG from 64 to 70 by adding 6% (by weight) of either fine or coarse fibers. Such improvement in stiffness of fiber modified binder is expected to improve pavement resistance to rutting.

Keywords: cellulose date palm fiber, fiber modified asphalt, physical properties, rheological properties

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Authors: Mehran Naghizaderokni, Asscar Janalizadechobbasty

Abstract:

There are more probabilistic and deterministic liquefaction evaluation procedures in order to judge whether liquefaction will occur or not. A review of this approach reveals that there is a need for a comprehensive procedure that accounts for different sources of uncertainty in liquefaction evaluation. In fact, for the same set of input parameters, different methods provide different factors of safety and/or probabilities of liquefaction. To account for the different uncertainties, including both the model and measurement uncertainties, reliability analysis is necessary. This paper has obtained information from Standard Penetration Test (SPT) and some empirical approaches such as: Seed et al, Highway bridge of Japan approach to soil liquefaction, The Overseas Coastal Area Development Institute of Japan (OCDI) and reliability method to studying potential of liquefaction in soil of Babol city in the north of Iran are compared. Evaluation potential of liquefaction in soil of Babol city is an important issue since the soil of some area contains sand, seismic area, increasing level of underground waters and consequently saturation of soil; therefore, one of the most important goals of this paper is to gain suitable recognition of liquefaction potential and find the most appropriate procedure of evaluation liquefaction potential to decrease related damages.

Keywords: reliability analysis, liquefaction, Babol, civil, construction and geological engineering

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