Search results for: the bank of England

Authors: Khan Sarfaraz, Mohammad Ali Mia

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Money laundering and other financial crime have become a global threat in recent years, impacting both developed and poor countries. In developing countries like Bangladesh, it is more difficult to combat financial crime than in developing countries because of the inadequate regulatory environment and vulnerable financial system. Bangladesh's central bank issues guidelines to facilitate the implementation of the prevention of the money laundering act. According to the guideline of Bangladesh Bank, all financial institution has to develop anti-money laundering policy to ensure the safety and soundness of their institutions. The paper aims to focus on the role of authorized agencies in combating financial crime. In this paper, the latest trends in financial crimes have been discussed from global and Asian perspectives. The preventive measures for money laundering and other financial crimes have been discussed elaborately. So far, financial crime is a sophisticated and dynamic crime, and criminals continuously took innovative processes to use the financial system to launder money. The study will take a step in pointing out new techniques, effects and challenges of financial crime in Bangladesh.

Keywords: financial crime, illegal money transfer, online gambling, money laundering, authorized agencies

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Authors: M. van der Bank, C. M. van der Bank

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Alternative Dispute Resolution denotes all forms of dispute resolution other than litigation or adjudication through the courts. This definition of Alternative Dispute Resolution, however, makes no mention of a vital consideration. ADR is the generally accepted acronym for alternative dispute resolution. Despite the choice not to proceed before a court or statutory tribunal, ADR will still be regulated by law and by the Constitution. Fairness is one of the core values of the South African constitutional order. Environmental disputes occur frequently, but due to delays and costs, ADR is a mechanism to resolve this kind of disputes which is a resolution of non-judicial mechanism. ADR can be used as a mechanism in environmental disputes that are less expensive and also more expeditious than formal litigation. ADR covers a broad range of mechanisms and processes designed to assist parties in resolving disputes creatively and effectively. In so far as this may involve the selection or design of mechanisms and processes other than formal litigation, these mechanisms and processes are not intended to supplant court adjudication, but rather to supplement it. A variety of ADR methods have been developed to deal with numerous problems encountered during environmental disputes. The research questions are: How can ADR facilitate environmental disputes in South Africa? Are they appropriate? And what improvements should be made?

Keywords: alternative dispute, environmental disputes, non-judicial, resolution and settlement

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Authors: Akunna Agunwah, Kevin Gallimore, Kathryn Kinnmond

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Entrepreneurship and project management are widely associated and seen as a vehicle for economic growth, but are studied separately. A few authors have considered the interconnectivity existing between these two fields, but relatively little empirical data currently exist in the literature. The purpose of the present empirical study is to explore whether successful entrepreneurs utilise project management approaches in enhancing enterprise growth by understanding the working practices and experiences of the entrepreneurs’ using the Theory of Planned Behaviour (TPB) as a lens. In order to understand those experiences, ten successful entrepreneurs in various business sectors in the North West of England were interviewed through a face-to-face semi-structured interview method. The collected audio tape-recorded data was transcribed and analysed using the deductive thematic technique (qualitative approach). The themes were viewed through the lens of Theory of Planned Behaviour to identify the three intentional antecedents (attitude, subjective norms, and perceived behavioural control) and to understand how they relate to the project management approaches (Planning, execution, and monitoring). The findings are twofold, the first evidence of the three intentional antecedents, which make up Theory of Planned Behaviour was present. Secondly, the analysis of project management approaches themes (planning, execution, and monitoring) using the lens of the theory of planned behaviour shows evidence of the three intentional antecedents. There were more than one intentional antecedents found in a particular project management theme, which indicates that the entrepreneur does utilise these approaches without categorising them into definite themes. However, the entrepreneur utilised these intentional antecedents as processes to enhanced business growth. In conclusion, the work presented here showed a way of understanding the interconnectivity between entrepreneurship and project management towards enhancing enterprise growth by examining the working practices and experiences of the successful entrepreneurs in the North-West England.

Keywords: business growth, entrepreneurship, project management approaches, theory of planned behaviour

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Authors: Marija Vicic

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The purpose of commercial credit regulation in an unified way under Law on Foreign Exchange Operations in Republic of Serbia allows an easier state monitoring of credit operations performed by non-professionals on foreign exchange market. By broadly defining the term “commercial credits“, the state (i.e. National Bank of Serbia) is given the authority to monitor the performance of all obligations under commercial contracts in which the obligations are not performed simultaneously. In the first part of the paper, the author analyses the economic gist of commercial credits with the purpose of giving an insight into their special treatment. The author examines the term „commercial credits“ given in Law on foreign exchange operations and the difference between financial credits and irregular commercial credits (exports and imports of goods and services deemed to be commercial credits) is particularly highlighted. In the second part, the author emphasizes the specifics of commercial credit contracts, especially the effects of special requests for the parties to these contracts to notify National Bank of Serbia and specific regulations regarding maturity of obligations under these commercial credits and the assignment and compensation of the said contracts.

Keywords: commercial credit, foreign exchange operations, commercial transactions, deferred payment, advance payment, (non) resident

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Authors: Nirman Kumar Ojha

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Bamboo plantation can be integrated for natural embankment against flood and live fencing against wild animals, at the same time provide economic opportunity for the poor farmers as a sustainable solution and adaptation alternative. 2010 flood in the Rui River completely inundated fields of four VDCs in Madi, Chitwan National Park with extensive bank erosion. The main aim of this action research was to identify an economically sustainable natural embankment against flood and also providing wildlife friendly fencing to reduce human-wildlife conflict. Community people especially poor farmers were trained for soil testing, land identification, plantation, and the harvesting regime, nursery set up and intercropping along with bamboo plantation on the edge of the river bank in order to reduce or minimize soil erosion. Results show that farmers are able to establish cost efficient and economically sustainable river embankment with bamboo plantation also creating a fence for wildlife which has also promoted bamboo cultivation and conservation. This action research has amalgamated flood control and wildlife control with the livelihood of the farmers which otherwise would cost huge resource. Another major impact of the bamboo plantation is its role in climate change and its adaptation process reducing degradation and improving vegetation cover contributing to landscape management. Based on this study, we conclude that bamboo plantation in Madi, Chitwan promoted the livelihood of the poor farmers providing a sustainable economic solution to reduce bank erosion, human-wildlife conflict and contributes to landscape management.

Keywords: climate change and conservation, economic opportunity, flood control, national park

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Authors: Jerome Nyameh

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The most valuable asset in the existence of organization is the employees and their ability in maintain appreciable level of performance which support the goal of the organization and the ability to do that depend largely on the organizational culture and culture has been considered most currently as the factor that relate positively to organizational excellence and sustainable employee’s performance over the period of time An employee engagement program will not go far without first establishing the organizational culture that is required to support sustainability. This means integrating sustainability into the overall employee’s performance, with clear vision, goals and metrics. It means having strong culture and a collaborative governance structure that has been develop as a ways of doing things in the organization for decision making and resource allocation. It requires a rewards and recognition program to support and reinforce sustainability behaviors. With such a culture in place, organization will be able to develop a strategy that fully engages employees, while fully realizing the benefits of their contributions. The study investigated empirically the role of organizational culture building sustainable employee’s performance using Zenith bank PLC a model where organizational culture will build sustainable employees performance strategy for a lasting actualization of organizational was developed. In order to achieve the research objectives of (i) to assess how organizational culture can build sustainable employee’s performance (ii) to analyze the gap that exists between organizational culture and sustainable employee’s performance in the organization, a survey questionnaires of 20 items was administered to sixty respondents. The findings of this study have practical implications for organizational leaders, managers and employees, and their organizations, particularly commercial banks in Nigeria, besides offering scope for further research in the area of organizational culture and sustainable employee’s performance. It will also show a significance and positive relationship that exist between organizational culture and sustainable employee’s performance, as means of building viable organization with cultural uniqueness and excellence performance in the world of competition.

Keywords: organizational culture, sustainable employee’s performance, organizations, Zenith Bank PLC Nigeria

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Authors: Azrul Azlan Iskandar Mirza

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The purpose of Funds Transfer Pricing (FTP) for Islamic Bank is to promote prudent liquidity risk-taking behavior of business units. The acquirer of stable deposits will be rewarded whilst a business unit that generates long-term assets will be charged for added liquidity funding risks. In the end, it promotes risk-adjusted pricing by incorporating profit rate risk and liquidity risk component in the product pricing. However, in the event of Shariah non-compliant (SNCE), FTP components will be examined in the rectification plan especially when Islamic banks need to purify the non-compliance income. The finding shows that the determination between actual and provision cost will defer the decision among Shariah committee in Islamic banks. This paper will review each of FTP components to ensure the classification of actual and provision costs reflect the decision on rectification process on SNCE. This will benefit future decision and its consistency of Islamic banks.

Keywords: fund transfer pricing, Islamic banking, Islamic finance, shariah non-compliant event

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Authors: Dike Ibegbulem

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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

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Authors: Temple Probyne Abali

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Port Harcourt, Rivers State in the Niger Delta region of Nigeria is bedeviled by the phenomenon of climatechange, posing threat to food security and livelihood. This study examined a 4 decadel (1980-2020) trend of climate change as well as its socio-economic impact on food security in the region. Furthermore, to achieve sustainable food security and livelihood amidst the phenomenon, the study adopted the World Bank Assisted Third National Fadama Development Programme approach. The data source for climate change involved secondary data from Nigeria Meteorological Agency (NIMET). Consequently, the results for climate change over the 4decade period were displayed in tables, charts and maps for the expected changes. Data sources on socio-economic impact of food security and livelihood were acquired through questionnairedesign. A purposive random sampling technique was used in selecting 5 coastal communities inthe region known for viable economic potentials for agricultural development and the resultswere analyzed using Analysis of Variance (ANOVA). The Participatory Rural Appraisal (PRA) technique of the World Bank for needs assessment wasadopted in selecting 5 agricultural sub-project proposals/activities based on groups’ commoneconomic interest from a total of 1,000 farmers each drawn from the 5 communities of differentage groups including men, women, youths and the vulnerable. Based on the farmers’ sub-projectinterests, the various groups’ Strength, Weakness, Opportunities and Threats (SWOT), Problem Listing Matrix, Skill Gap Analysis as well as EIAson their sub-project proposals/activities were analyzed with substantialMonitoring and Evaluation (M & E), using the Specific, Measurable, Attribute, Reliable and Time bound (SMART)approach. Based on the findings from the PRA technique, the farmers recorded considerableincreaseinincomeofover200%withinthe5yearprojectplan(2008-2013).Thestudyrecommends capacity building and advisory services on this PRA innovation. By so doing, there would be a sustainable increase in agricultural production and assured food security in an environmental friendly manner, in line with the United Nation’s Sustainable Development Goals(SDGs).

Keywords: climate change, food security, fadama, world bank, agriculture, sdgs

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Authors: Olivia R. Rendon

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More than half of the world population lives in cities, in the UK, for example, 82% of the population was urban by 2013. Cities concentrate valuable and numerous infrastructure and sectors of the national economies. Cities are particularly vulnerable to climate change which will lead to higher damage costs in the future. There is thus a need to develop and invest in adaptation measures for cities to reduce the impact of flooding and other extreme weather events. Recent flood episodes present a significant and growing challenge to the UK and the estimated cost of urban flood damage is 270 million a year for England and Wales. This study aims to carry out cost-benefit analysis (CBA) of a nature-based approach for flood risk management in cities, focusing on the city of Leeds and the wider Aire catchment as a case study. Leeds was chosen as a case study due to its being one of the most flood vulnerable cities in the UK. In Leeds, over 4,500 properties are currently vulnerable to flooding and approximately £450 million of direct damage is estimated for a potential major flood from the River Aire. Leeds is also the second largest Metropolitan District in England with a projected population of 770,000 for 2014. So far the city council has mainly focused its flood risk management efforts on hard infrastructure solutions for the city centre. However, the wider Leeds district is at significant flood risk which could benefit from greener adaptation measures. This study presents estimates of a nature-based adaptation approach for flood risk management in Leeds. This land use management estimate is based on generating costings utilising primary and secondary data. This research contributes findings on the costs of different adaptation measures to flood risk management in a UK city, including the trade-offs and challenges of utilising nature-based solutions. Results also explore the potential implementation of the adaptation measures in the case study and the challenges of data collection and analysis for adaptation in flood risk management.

Keywords: green infrastructure, ecosystem services, woodland, adaptation, flood risk

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Authors: Saneeya Qureshi

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This paper reports doctoral research into the impact of Special Educational Needs Coordinators (SENCOs) on teachers in England, UK. Since 1994, it has been compulsory for all mainstream schools in the UK to have a SENCO who co-ordinates assessment and provision for supporting pupils with Special Educational Needs (SEN), helping teachers to develop and implement optimal SEN planning and resources. SENCOs’ roles have evolved as various policies continually redefined SEN provision, impacting their positioning within the school hierarchical structure. SENCOs in England are increasingly recognised as key members of school senior management teams. In this paper, It will be argued that despite issues around the transformative ‘professionalisation’ of their role, and subsequent conflict around boundaries and power relations, SENCOs enhance teachers’ abilities in terms of delivering optimal SEN provision. There is a significant international dimension to the issue: a similar role in respect of SEN management already exists in countries such as Ireland, Finland and Singapore, whilst in other countries, such as Italy and India, the introduction of a role similar to that of a SENCO is currently under discussion. The research question addressed is: do SENCOs enhance teachers’ abilities to be effective teachers of children with Special Educational Needs? The theoretical framework of the project is that of interpretivism, as it is acknowledged that there are contexts and realities are social constructions. The study applied a mixed method approach consisting of two phases. The first phase involved a purposive survey (n=42) of 223 primary school SENCOs, which enabled a deeper insight into SENCOs’ perceptions of their roles in relation to teachers. The second phase consisted of semi-structured interviews (n=36) of SENCOs, teachers and head teachers, in addition to school SEN-related documentation scrutiny. ‘Trustworthiness’ was accomplished through data and methodological triangulation, in addition to a rigorous process of coding and thematic analysis. The research was informed by an Ethical Code as per national guidelines. Research findings point to the evolutionary aspect of the SENCO role having engendered a culture of expectations amongst practitioners, as SENCOs transition from being ‘fixers’ to being ‘enablers’ of teachers. Outcomes indicate that SENCOs can empower teaching staff through the dissemination of specialist knowledge. However, there must be resources clearly identified for such dissemination to take place. It is imperative that both SENCOs and teachers alike address the issue of absolution of responsibility that arises when the ownership and accountability for the planning and implementation of SEN provision are not clarified so as to ensure the promotion of a positive school ethos around inclusive practices. Optimal outcomes through effective SEN interventions and teaching practices are positively correlated with the inclusion of teachers in the planning and execution of SEN provisions. An international audience can consider how the key findings are being manifest in a global context, with reference to their own educational settings. Research outcomes can aid the development of specific competencies needed to shape optimal inclusive educational settings in accordance with the official global priorities pertaining to inclusion.

Keywords: inclusion, school professionals, school leadership, special educational needs (SEN), special educational needs coordinators (SENCOs)

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Authors: Ellis Kofi Akwaa-Sekyi, Jordi Moreno Gené

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Managerial actions which negatively profile banks and impair corporate reputation are addressed through effective internal control systems. Disregard for acceptable standards and procedures for granting credit have affected bank loan portfolios and could be cited for the crises in some European countries. The study intends to determine the effectiveness of internal control systems, investigate whether perceived agency problems exist on the part of board members and to establish the relationship between internal controls and credit risk among listed banks in the European Union. Drawing theoretical support from the behavioural compliance and agency theories, about seventeen internal control variables (drawn from the revised COSO framework), bank-specific, country, stock market and macro-economic variables will be involved in the study. A purely quantitative approach will be employed to model internal control variables covering the control environment, risk management, control activities, information and communication and monitoring. Panel data from 2005-2014 on listed banks from 28 European Union countries will be used for the study. Hypotheses will be tested and the Generalized Least Squares (GLS) regression will be run to establish the relationship between dependent and independent variables. The Hausman test will be used to select whether random or fixed effect model will be used. It is expected that listed banks will have sound internal control systems but their effectiveness cannot be confirmed. A perceived agency problem on the part of the board of directors is expected to be confirmed. The study expects significant effect of internal controls on credit risk. The study will uncover another perspective of internal controls as not only an operational risk issue but credit risk too. Banks will be cautious that observing effective internal control systems is an ethical and socially responsible act since the collapse (crisis) of financial institutions as a result of excessive default is a major contagion. This study deviates from the usual primary data approach to measuring internal control variables and rather models internal control variables in a quantitative approach for the panel data. Thus a grey area in approaching the revised COSO framework for internal controls is opened for further research. Most bank failures and crises could be averted if effective internal control systems are religiously adhered to.

Keywords: agency theory, credit risk, internal controls, revised COSO framework

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Authors: Andrea Ando

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The development of the blockchain has been a major innovation in the technology field. It opened the door to the creation of novel cyberassets and currencies. In more recent times, the non-fungible tokens have started to be at the centre of media attention. Their popularity has been increasing since 2021, and they represent the latest in the world of distributed ledger technologies and cryptocurrencies. It seems more and more likely that NFTs will play a more important role in our online interactions. They are indeed increasingly taking part in the arts and technology sectors. Their impact on society and the market is still very difficult to define, but it is very likely that there will be a turning point in the world of digital assets. There are some examples of their peculiar behaviour and effect in our contemporary tech-market: the former CEO of the famous social media site Twitter sold an NFT of his first tweet for around £2,1 million ($2,5 million), or the National Basketball Association has created a platform to sale unique moment and memorabilia from the history of basketball through the non-fungible token technology. Their growth, as imaginable, paved the way for civil disputes, mostly regarding their position under the current intellectual property law in each jurisdiction. In April 2022, the High Court of England and Wales ruled in the OpenSea case that non-fungible tokens can be considered properties. The judge, indeed, concluded that the cryptoasset had all the indicia of property under common law (National Provincial Bank v. Ainsworth). The research has demonstrated that the ruling of the High Court is not providing enough answers to the dilemma of whether minting an NFT is a violation or not of intellectual property and/or property rights. Indeed, if, on the one hand, the technology follows the framework set by the case law (e.g., the 4 criteria of Ainsworth), on the other hand, the question that arises is what is effectively protected and owned by both the creator and the purchaser. Then the question that arises is whether a person has ownership of the cryptographed code, that it is indeed definable, identifiable, intangible, distinct, and has a degree of permanence, or what is attached to this block-chain, hence even a physical object or piece of art. Indeed, a simple code would not have any financial importance if it were not attached to something that is widely recognised as valuable. This was demonstrated first through the analysis of the expectations of intellectual property law. Then, after having laid the foundation, the paper examined the OpenSea case, and finally, it analysed whether the expectations were met or not.

Keywords: technology, technology law, digital law, cryptoassets, NFTs, NFT, property law, intellectual property law, copyright law

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Authors: Emin Avcı, Çiydem Çatak

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The recent economic crisis have shown that procyclicality, which could threaten the stability and growth of the economy, is a major problem of financial and real sector. The term procyclicality refers here the cyclical behavior of banks that lead them to follow the same patterns as the real economy. In this study, leverage which demonstrate how a bank manage its debt, is chosen as bank specific variable to see the effect of changes in it over the economic cycle. The procyclical behavior of Turkish banking sector (commercial, participation, development-investment banks) is tried to explain with analyzing the relationship between leverage and asset growth. On the basis of theoretical explanations, eight different leverage ratios are utilized in eight different panel data models to demonstrate the procyclicality effect of Turkish banks leverage using monthly data covering the 2005-2014 period. It is tested whether there is an increasing (decreasing) trend in the leverage ratio of Turkish banks when there is an enlargement (contraction) in their balance sheet. The major finding of the study indicates that asset growth has a significant effect on all eight leverage ratios. In other words, the leverage of Turkish banks follow a cyclical pattern, which is in line with those of earlier literature.

Keywords: banking, economic cycles, leverage, procyclicality

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Authors: Yashved Serhun, Kim A. Timm

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Barclays Bank has identified the need for a head office building in Lusaka, Zambia, and construction of a 7200 m2 three-storey reinforced concrete office building with a structural steel roof is currently underway. A unique characteristic of the development is that the building footprint is positioned on dolomitic land. Dolomite rock has the tendency to react with and breakdown in the presence of slightly acidic water, including rainwater. This leads to a potential for subsidence and sinkhole formation. Subsidence and the formation of sinkholes beneath a building can be detrimental during both the construction and operational phases. This paper outlines engineering principles which were considered during the structural design of the raft foundation for the Barclays head office building. In addition, this paper includes multidisciplinary considerations and the impact of these on the structural engineering design of the raft foundation. By ensuring that the design of raft foundations on dolomitic land incorporates the requirements of all disciplines and relevant design codes during the design process, the risk associated with subsidence and sinkhole formation can be effectively mitigated during the operational phase of the building.

Keywords: dolomite, dolomitic land, raft foundation, structural engineering design

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Authors: Muhittin Fatih Demirhan, Sibel Alapala Demirhan

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Agriculture, is also regarded as the primary activity area in all economies. When international comparisons are made Turkey has comparative advantages in agricultural potential. However, it is diffi cult to say that Turkey's agricultural productivity and use of technology is well developed in terms of sufficieny. Turkey, in terms of agricultural production, is one of the rare self-sufficient countries, but for supplying excessive demand of its domesticproduction to foreign markets to obtain the necessary income it is rather insufficient. On the basis of wrong policies implemented during the crisis and found that bottlenecks in agriculture and animal husbandry or agriculture policies of the IMF and World Bank are imposed on countries like Turkey. The IMF and the World Bank, the reduction of support in the agricultural and livestock Turkey, is known to put pressure for the abolition. Under these circumstances, our farmers, livestock producers and breeders of, not a chance to compete in the same market with EU producers. Animal products that capture the productivity levels of developed countries, seems to be our chance to compete with the quality and hygiene criteria. Thus, the discussion of the issue must be raised as for the sector's contribution to the economy in terms of further increasing production of the existing potential in mobilization.

Keywords: agricultural development, animal production, competition, economic crisis, food supply

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Authors: Yetunde I. Bulu, Moses B. Adewole, Julius O. Faluyi

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This study investigates the effect of aggressive application of herbicide on weed succession in an urban environment in Ile-Ife, Osun State. An inspection of the communities was carried out to identify sites maintained by herbicides (test plots) and those without herbicide history (control plots). Four different experimental plots located at Olasode, Eleweran, Ife City and Parakin within Ile-Ife town were monitored during the study. Comprehensive enumeration and identification of plant populations to species level was carried out on each of the plots and at every visit to determine the direction of succession. Index of similarities was used to determine the relationship in plant species composition between plots treated with herbicide and the untreated plots. The trend of increasing plant species was observed in all the study plots. Low Similarity Index between the treated plots and the control vegetation was observed at all visitations. Low similarity was also observed between the above-ground vegetation and the seed bank in all the plots. The study concluded that the weed population observed from the experimental plots showed an increase in species richness and diversity when the plots were left to recover compared to the control plots.

Keywords: herbicide, index of similarity, population, soil seed bank, succession

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Authors: Suparna Bagchi

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Education as a discipline will probably be shaped by the importance it places on a conceptual, curricular, and pedagogical need to shift the emphasis toward transformative classrooms working for positive change through cultural diversity. Awareness of cultural diversity and race equality has heightened following George Floyd’s killing in the USA in 2020. This increasing awareness is particularly relevant in areas of historically low ethnic diversity which have lately experienced a rise in ethnic minority populations and where inclusive growth is a challenge. This research study aims to explore the perspectives of practitioners, students, and parents towards multiculturalism in four South West England primary schools. A qualitative case study methodology has been adopted framed by sociocultural theory. Data were collected through virtually conducted semi-structured interviews with school practitioners and parents, observation of students’ classroom activities, and documentary analysis of classroom displays. Although one-third of the school population includes ethnically diverse children, BAME (Black, Asian, and Minority Ethnic) characters featured in children's books published in Britain in 2019 were almost invisible, let alone a BAME main character. The Office for Standards in Education, Children's Services and Skills (Ofsted) are vocal about extending the Curriculum beyond the academic and technical arenas for pupils’ broader development and creation of an understanding and appreciation of cultural diversity. However, race equality and community cohesion which could help in the students’ broader development are not Ofsted’s school inspection criteria. The absence of culturally diverse content in the school curriculum highlighted by the 1985 Swann Report and 2007 Ajegbo Report makes England’s National Curriculum look like a Brexit policy three decades before Brexit. A revised National Curriculum may be the starting point with the teachers as curriculum framers playing a significant part. The task design is crucial where teachers can place equal importance on the interwoven elements of “how”, “what” and “why” the task is taught. Teachers need to build confidence in encouraging difficult conversations around racism, fear, indifference, and ignorance breaking the stereotypical barriers, thus helping to create students’ conception of a multicultural Britain. Research showed that trainee teachers in predominantly White areas often exhibit confined perspectives while educating children. Irrespective of the geographical location, school teachers can be equipped with culturally responsive initial and continuous professional development necessary to impart multicultural education. This may aid in the reduction of employees’ unconscious bias. This becomes distinctly pertinent to avoid horrific cases in the future like the recent one in Hackney where a Black teenager was strip-searched during period wrongly suspected of cannabis possession. Early research findings show participants’ eagerness for more ethnic diversity content incorporated in teaching and learning. However, schools are considerably dependent on the knowledge-focused Primary National Curriculum in England. Moreover, they handle issues around the intersectionality of disability, poverty, and gender. Teachers were trained in times when foregrounding ethnicity matters was not happening. Therefore, preoccupied with Curriculum requirements, intersectionality issues, and teacher preparations, schools exhibit an incapacity due to which keeping momentum on ethnic diversity is somewhat endangered.

Keywords: case study, curriculum decolonisation, inclusive education, multiculturalism, qualitative research in Covid19 times

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Authors: Frank C. Amaechi, Adeyinka A. Aderinto, Usman A. Ojedokun, Oludayo Tade

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Illicit trading in new naira notes has become a common practice in most communities in Nigeria despite the Central Bank Act’s in 2007 proscription of all forms of naira abuse. This study investigated the socio-economic factors sustaining illicit trading in new naira notes in Ibadan metropolis. The study was exploratory and cross-sectional in design. Neutralization theory was adopted as theoretical framework. Data were generated through the combination of in-depth interview and key informant interview methods. The purposive sampling technique was utilised to select five illicit traders of new naira notes, 32 patrons of the trade and six bank officials. Findings revealed that illicit trading in Nigeria’s national currency is flourishing because of the frequent demand for new naira notes that are not readily available in Nigerian banks. Also, the norm of cash spraying at social events is sustaining the illicit markets for new naira notes in Ibadan metropolis. In addition, a chain of network, comprising three principal actors, is behind the illegal business. A strict enforcement of the law banning cash spraying is advocated as a means of arresting this phenomenon.

Keywords: illicit trading, naira notes, national currency, Nigeria

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Authors: Oliver Ikechukwu Inyiama, Boniface Uche Ugwuanyi

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The aim of the research is to evaluate the key financial performance indicators that help both managers and their shareholders of Nigerian Banks to determine the appropriate dividend payout to their ordinary shareholders in an accounting year. Profitability, total asset, and earnings of commercial banks were selected as key performance indicators in Nigeria Banking Sector. They represent the independent variables of the study while dividend per share is the proxy for the dividend paid on ordinary shares which represent the dependent variable. The effect of profitability, total asset and earnings on dividend per share were evaluated through the ordinary least square method of multiple regression analysis. Test for normality of frequency distribution was conducted through descriptive statistics such as Jacque Bera Statistic, skewness and kurtosis. Rate of dividend payout was subsequently applied as an alternate dependent variable to test for robustness of the earlier results. The 64% adjusted R-squared of the pooled data indicates that profitability, total asset, and earnings explain the variation in dividend per share during the period under research while the remaining 36% variation in dividend per share could be explained by changes in other variables not captured by this study as well as the error term. The study concentrated on four leading Nigeria Commercial Banks namely; First Bank of Nigeria Plc, GTBank Plc, United Bank for Africa Plc and Zenith International Bank Plc. Dividend per share was found to be positively affected by total assets and earnings of the commercial banks. However, profitability which was proxied by profit after tax had a negative effect on dividend per share. The implication of the findings is that commercial banks in Nigeria pay more dividend when they are having a dwindling fortune in order to retain the confidence of the shareholders provided their gross earnings and size is on the increase. Therefore, the management and board of directors of Nigeria commercial banks should apply decent marketing strategies to enhance earnings through investment in profitable ventures for an improved dividend payout rate.

Keywords: assets, banks, indicators, performance, profitability, shares

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Authors: Ime R. Udotong, Justina I. R. Udotong, Ofonime U. M. John

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Brass terminal, one of the several crude oil and petroleum products storage/handling facilities in the Niger Delta was built in the 1980s. Activities at this site, over the years, released crude oil into this 3 m-deep, 1500 m-long canal lying adjacent to the terminal with oil floating on it and its sediment heavily polluted. To ensure effective clean-up, three major activities were planned: Site characterization, bioremediation pilot plant construction and testing and full-scale bioremediation of contaminated sediment/bank soil by land farming. The canal was delineated into 12 lots and each characterized, with reference to the floating oily phase, contaminated sediment and canal bank soil. As a result of site characterization, a pilot plant for on-site bioremediation was designed and a treatment basin constructed for carrying out pilot bioremediation test. Following a designed sampling protocol, samples from this pilot plant were collected for analysis at two laboratories as a quality assurance/quality control check. Results showed that Brass Canal upstream is contaminated with dark, thick and viscous oily film with characteristic hydrocarbon smell while downstream, thin oily film interspersed with water were observed. Sediments were observed to be dark with mixture of brownish sandy soil with TPH ranging from 17,800 mg/kg in Lot 1 to 88,500 mg/kg in Lot 12 samples. Brass Canal bank soil was observed to be sandy from ground surface to 3m, below ground surface (bgs) it was silty-sandy and brownish while subsurface soil (4-10m bgs) was sandy-clayey and whitish/grayish with typical hydrocarbon smell. Preliminary results obtained so far have been very promising but were proprietary. This project is considered, to the best of technical literature knowledge, the first large-scale on-site bioremediation project in the Niger Delta region, Nigeria.

Keywords: bioremediation, contaminated sediment, land farming, oily sludge, oil terminal

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Authors: Ossama Al-Maliki

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Europay, MasterCard, and Visa (EMV) is one of the most popular payment protocol in the world. The EMV protocol supports Chip and PIN Transactions, Chip and Signature transactions, and Contactless transactions. This protocol suffers from tens of £ millions of lost per year due to many fraudulent payments. This is due to several reported vulnerable points in the protocols used for such payments that allow skimming, replay, cloning, Mole Point of Sale (POS), relay, and other attacks to be conducted. In this paper, we are focusing on the EMV contactless specification and we have proposed two proposal solutions to the addition of a localization factor to enhance the payment authentication of such transactions designed to prevent relay, cloning, and Mole-POS attacks. Our proposed solution is a back-end localization scheme to help the Issuer-Bank compare the location of the genuine cardholder in relation to the used POS. Our scheme uses 'something you have' which is the Cardholder Smartphone (CSP) to provide the location of the cardholder at the time of the transaction and without impacting the contactless payment time/protocol. The Issuer-bank obtain the CSP Location using tried and tested localization techniques, and independently of the cardholder. Both of our proposal solutions do not require infrastructure changes, and it uses existing EMV/SP protocol messages to communicate our scheme information.

Keywords: NFC, RFID, contactless card, authentication, location, EMV

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Authors: Ibrahim Rabiu Darazo

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The research has been conducted on the impact of E-banking on the operational efficiency of Banks in Nigeria, A case of some selected banks (Diamond Bank Plc, GTBankPlc, and Fidelity Bank Plc) in Nigeria. The research is a quantitative research which uses both primary and secondary sources of data collection. Questionnaire were used to obtained accurate data, where 150 Questionnaire were distributed among staff and customers of the three Banks , and the data collected where analysed using chi-square, whereas the secondary data where obtained from relevant text books, journals and relevant web sites. It is clear from the findings that, the use of e-banking by the banks has improved the efficiency of these banks, in terms of providing efficient services to customers electronically, using Internet Banking, Telephone Banking ATMs, reducing time taking to serve customers, e-banking allow new customers to open an account online, customers have access to their account at all the time 24/7.E-banking provide access to customers information from the data base and cost of check and postage were eliminated using e-banking. The recommendation at the end of the research include; the Banks should try to update their electronic gadgets, e-fraud(internal & external) should also be controlled, Banks shall employ qualified man power, Biometric ATMs shall be introduce to reduce fraud using ATM Cards, as it is use in other countries like USA.

Keywords: banks, electronic banking, operational efficiency of banks, biometric ATMs

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Authors: Charity Ifunanya Osakwe, Victoria Ogochuchukwu Obi-Nwosu, Chima Kenneth Anachedo

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The study investigates how automated teller machines (ATM) and mobile banking affect deposit money banks in the Nigerian economy. The study made use of time series data which were obtained from the Central Bank of Nigeria Statistical Bulletin from 2009 to 2021. The Central Bank of Nigeria (CBN) data on automated teller machine and mobile phones were used to proxy electronic banking while total deposit in banks proxied the performance of deposit money banks. The analysis for the study was done using ordinary least square econometric technique with the aid of economic view statistical package. The results show that the automated teller machine has a positive and significant effect on the total deposits of deposit money banks in Nigeria and that making use of deposits of deposit money banks in Nigeria. It was concluded in the study that e-banking has equally increased banking access to customers and also created room for banks to expand their operations to more customers. The study recommends that banks in Nigeria should prioritize the expansion and maintenance of ATM networks as well as continue to invest in and develop more mobile banking services.

Keywords: electronic, banking, automated teller machines, mobile, deposit

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Authors: Hila Levi

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Respect for human rights is a fundamental element of the European Union's (EU) identity and law. Surprisingly, however, the protection of human rights has been significantly restricted in the austerity programs ordered by the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission (EC) (often labeled 'the Troika') in return for financial aid to the crisis-hit countries. This paper focuses on the role of the ECB in the crisis management. While other international financial institutions, such as the IMF or the World Bank, may opt to neglect human rights obligations, one might expect a greater respect of human rights from the ECB, which is bound by the EU Charter of Fundamental Rights. However, this paper argues that ECB officials made no significant effort to protect human rights or strike an adequate balance between competing financial and human rights needs while coping with the crisis. ECB officials were preoccupied with the need to stabilize the economy and prevent a collapse of the Eurozone, and paid only marginal attention to human rights concerns in the design and implementation of Troikas' programs. This paper explores the role of Organizational Culture (OC) in explaining this marginalization. While International Relations (IR) research on Intergovernmental Organizations (IGOs) behavior has traditionally focused on external interests of powerful member states, and on national and economic considerations, this study focuses on particular institutions' internal factors and independent processes. OC characteristics have been identified in OC literature as an important determinant of organizational behavior. This paper suggests that cultural characteristics are also vital for the examination of IGOs, and particularly for understanding the ECB's behavior during the crisis. In order to assess the OC of the ECB and the impact it had on its policies and decisions during the Eurozone crisis, the paper uses the results of numerous qualitative interviews conducted with high-ranking officials and staff members of the ECB involved in the crisis management. It further reviews primary sources of the ECB (such as ECB statutes, and the Memoranda of Understanding signed between the crisis countries and the Troika), and secondary sources (such as the report of the UN High Commissioner for Human Rights on Austerity measures and economic, social, and cultural rights). It thus analyzes the interaction between the ECBs culture and the almost complete absence of human rights considerations in the Eurozone crisis resolution scheme. This paper highlights the importance and influence of internal ideational factors on IGOs behavior. From a more practical perspective, this paper may contribute to understanding one of the obstacles in the process of human rights implementation in international organizations, and provide instruments for better protection of social and economic rights.

Keywords: European central bank, eurozone crisis, intergovernmental organizations, organizational culture

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Authors: Alejandra Letelier, Anja Heilmann, Richard G. Watt, Stephen Jivraj, Georgios Tsakos

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Background: Socioeconomic position (SEP) influences adult health. People who experienced material disadvantages in childhood or adulthood tend to have higher adult disease levels than their peers from more advantaged backgrounds. Even so, life is a dynamic process and contains a series of transitions that could lead people through different socioeconomic paths. Research on social mobility takes this into account by adopting a trajectory approach, thereby providing a long-term view of the effect of SEP on health. Aim: The aim of this research examines the effects of intergenerational social mobility on adult general health, oral health and functioning in a population aged 50 and over in England. Methods: This study is based on the secondary analysis of data from the English Longitudinal Study of Ageing (ELSA). Using cross-sectional data, nine social trajectories were created based on parental and adult occupational socio-economic position. Regression models were used to estimate the associations between social trajectories and the following outcomes: adult self-rated health, self-rated oral health, oral health related quality of life, total tooth loss and grip strength; while controlling for socio-economic background and health related behaviours. Results: Associations with adult SEP were generally stronger than with childhood SEP, suggesting a stronger influence of proximal rather than distal SEP on health and oral health. Compared to the stable high group, being in the low SEP groups in childhood and adulthood was associated with poorer health and oral health for all examined outcome measures. For adult self-rated health and edentulousness, graded associations with social mobility trajectories were observed. Conclusion: Intergenerational social mobility was associated with self-rated health and total tooth loss. Compared to only those who remained in a low SEP group over time reported worse self-rated oral health and oral health related quality of life, and had lower grip strength measurements. Potential limitations in relation to data quality will be discussed.

Keywords: social determinants of oral health, social mobility, socioeconomic position and oral health, older adults oral health

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Authors: Alfred Quarcoo

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The main purpose of this paper is to examine the causal relationship between energy consumption and economic growth in Sub-Saharan Africa using panel data techniques. An annual data on energy consumption and Economic Growth (proxied by real gross domestic product per capita) spanning from 1990 to 2016 from the World bank index database was used. The results of the Augmented Dickey–Fuller unit root test shows that the series for all countries are not stationary at levels. However, the log of economic growth in Benin and Congo become stationary after taking the differences of the data, and log of energy consumption become stationary for all countries and Log of economic growth in Kenya and Zimbabwe were found to be stationary after taking the second differences of the panel series. The findings of the Johansen cointegration test demonstrate that the variables Log of Energy Consumption and Log of economic growth are not co-integrated for the cases of Kenya and Zimbabwe, so no long-run relationship between the variables were established in any country. The Granger causality test indicates that there is a unidirectional causality running from energy use to economic growth in Kenya and no causal linkage between Energy consumption and economic growth in Benin, Congo and Zimbabwe.

Keywords: Cointegration, Granger Causality, Sub-Sahara Africa, World Bank Development Indicators

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Authors: Dilson Subedi

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Current transformers are an integral part of power system because it provides a proportional safe amount of current for protection and measurement applications. However, due to upgradation of electromechanical relays to numerical relays and electromechanical energy meters to digital meters, the connected burden, which defines some of the CT characteristics, has drastically reduced. This has led to the system experiencing high currents damaging the connected relays and meters. Since the protection and metering equipment's are designed to withstand only certain amount of current with respect to time, these high currents pose a risk to man and equipment. Therefore, during such instances, the CT saturation characteristics have a huge influence on the safety of both man and equipment and on the reliability of the protection and metering system. This paper shows the effectiveness of a bank of parallel connected resistors, as a burden compensation technique, in compensating the burden of under-burdened CT’s. The response of the CT in the case of failure of one or more resistors at different levels of overcurrent will be captured using the LabVIEWTM data acquisition hardware (DAQ). The analysis is done on the real-time data gathered using LabVIEWTM. Variation of current transformer saturation characteristics with changes in burden will be discussed.

Keywords: accuracy limiting factor, burden, burden compensation, current transformer

Procedia PDF Downloads 245

Authors: Sennanda Musa, Ahmed Mutunzi Kitunzi, Gerald Kasigwa, Ismail Kintu

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This paper is an analysis of the empirical relationship between project financing by Islamic Development Bank (IsDB) and the poverty trends in the context of countries benefiting from IsDB. Specifically, the study seeks to find out whether there is a statistically significant relationship between the project financing dollar amounts by IsDB (PF) and the GNI Per Capita, PPP of 57 countries for the years 2002 to 2021. The research is a longitudinal, desk-top triangulation of correlation, regression, hypothesis-testing employing the linear dynamic panel data GMM model as an estimator of the empirical relationships between the key variables of the study. The study results show that there is a significant positive relationship between the PF dollar amounts from the IsDB and the GNI Per Capita, PPP in these 57 countries. Therefore, countries that receive higher PF dollar amounts from the IsDB, generally have more GNI Per Capita, PPP (less poverty) than their counterparts. It is, therefore, recommendable for countries to formulate policies that facilitate Islamically financed projects to mitigate poverty. This paper develops policy discussions regarding allocation of political attention to the policy topics on poverty mitigation, and their relation to financing projects Islamically, thus generate information on policy choices regarding the Islamic financing alternative.

Keywords: gross-national-income, IsDB-project-financing, public policy, poverty

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Authors: Raif Parlakkaya, Huseyin Cetin, Duygu Irdiren

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By the development of World Wide Web, the usage rate of Internet has rapidly grown globally; and provided a basis for the emergence of electronic business. As well as other sectors, the banking sector has adopted the use of internet with the developments in information and communication technologies. Due to the public disclosure and transparency principle of Corporate Governance, the importance of information disclosure of banks on their web sites has increased significantly. For the purpose of this study, a Bank Disclosure Attribute Index (BDAI) in Turkey has been constructed through classifying the information disclosure on banks’ web sites into general, financial, investors and corporate governance attributes. All 47 banks in Turkish Banking System have been evaluated according to the index with the aim of providing a comparison between banks. By Chi Square Test, Pearson Correlation, T-Test, and ANOVA statistical tools, it has been concluded that the majority of banks in Turkey have shared information on their web sites adequately with respect to their total index score. Although there is a positive correlation between various types of information on banks’ web sites, there is no uniformity among them. Also, no significant difference between various types of information disclosure and bank types has been observed. Compared with the total index score averages of the five largest banks in Turkey, there are some banks that need to improve the content of their web sites.

Keywords: internet banking, websites evaluation, customer adoption, Turkey

Procedia PDF Downloads 398