Search results for: anti-money laundering and counter terrorism financing

Authors: Zidane Abderrezaq

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

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

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Authors: Yusarina Mat-Isa, Zuraidah Mohd-Sanusi, Mohd-Nizal Haniff, Paul A. Barnes

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In view that money laundering has become eminent for banking institutions, it is an obligation for the banking institutions to adopt a risk-based approach as the integral component of the accepted policies on anti-money laundering. In doing so, those involved with the banking operations are the most critical group of personnel as these are the people who deal with the day-to-day operations of the banking institutions and are obligated to form a judgement on the level of impending risk. This requirement is extended to all relevant banking institutions staff, such as tellers and customer account representatives for them to identify suspicious customers and escalate it to the relevant authorities. Banking institutions staffs, however, face enormous challenges in identifying and distinguishing money launderers from other legitimate customers seeking genuine banking transactions. Banking institutions staffs are mostly educated and trained with the business objective in mind to serve the customers and are not trained to be “detectives with a detective’s power of observation”. Despite increasing awareness as well as trainings conducted for the banking institutions staff, their competency in assessing money laundering risk is still insufficient. Several gaps have prompted this study including the lack of behavioural perspectives in the assessment of money laundering risk in the banking institutions. Utilizing experimental approach, respondents are randomly assigned within a controlled setting with manipulated situations upon which judgement of the respondents is solicited based on various observations related to the situations. The study suggests that it is imperative that informed judgement is exercised in arriving at the decision to proceed with the banking services required by the customers. Judgement forms a basis of opinion for the banking institution staff to decide if the customers posed money laundering risk. Failure to exercise good judgement could results in losses and absorption of unnecessary risk into the banking institutions. Although the banking institutions are exposed with choices of automated solutions in assessing money laundering risk, the human factor in assessing the risk is indispensable. Individual staff in the banking institutions is the first line of defence who are responsible for screening the impending risk of any customer soliciting for banking services. At the end of the spectrum, the individual role involvement on the subject of money laundering risk assessment is not a substitute for automated solutions as human judgement is inimitable.

Keywords: banking institutions, experimental approach, money laundering, risk assessment

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Authors: Irena Paramita Pramono

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Islamic bank is a financial industry with huge potential to grow in Indonesia. Profit-sharing agreement in the operations of Islamic banks distinguishes Islamic banks with conventional banks. Profit-sharing agreement allows sharing of benefits and risks between shahibul maal and mudharib in islamic bank. This study aimed to observe the patterns of influence between the risk-sharing agreement, financing risk and Profitability in Islamic banks. This research used several Islamic banks as sample and path analysis method. The empirical results of this research shows that the profit-sharing agreement in deposits structure has no direct significant effect to ROA, but it has indirect effect to ROA through profit-sharing financing. On the other hand, profit-sharing financing has direct and indirect influence to ROA through financing risk. This research shows that profit-sharing financing has a positive significant effect to the financing risk and also to the ROA. The research recommends Islamic banks to continue using and developing profit-sharing agreement in its operational activities, hence to create value.

Keywords: Islamic bank, profit-loss sharing agreement, financing risk, profitability

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Authors: Euphrasia Susy Suhendra, Lies Handrijaningsih

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The banking sector as an intermediary party or intermediaries occupies a very important position in bridging the needs of working capital investment in the real sector with funds owner. This will certainly make money more effectively to improve the economic value added. As an intermediary, Islamic banks raise funds from the public and then distribute in the form of financing. In practice, the distribution of funding that is run by Islamic Banking is not as easy as, in theory, because, in fact, there are many financing problems; some are caused by lacking the assessment and supervision of banks to customers. This study aims to analyze the influence of the Third Party Funds, Return on Assets (ROA), Non Performing Financing (NPF), and Financing Deposit Ratio (FDR) to Total Financing provided to the Community by Islamic Banks in Indonesia. The data used is monthly data released by Bank of Indonesia in Islamic Banking Statistics in the time period of January 2009 - December 2013. This study uses cointegration test to see the long-term relationship, and use error correction models to examine the relationship of short-term. The results of this study indicate that the Third Party Fund has a short-term effect on total funding, Return on Assets has a long term effect on the total financing, Non Performing Financing has long-term effects of total financing, and Financing deposit ratio has the effect of short-term and long-term of the total financing provided by Islamic Banks in Indonesia.

Keywords: Islamic banking, third party fund, return on asset, non-performing financing, financing deposit ratio

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Authors: Shamila Ahmed

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The paper examines how the fluidity between the local level and the global level is an intrinsic feature of new terrorism. Through using cosmopolitanism, the narratives of the two opposing sides of ISIS and the ‘war on terrorism’ response are explored. It is demonstrated how the fluidity between these levels facilitates the radicalisation process through exploring how groups such as ISIS highlight the perceived injustices against Muslims locally and globally and therefore exploit the globalisation process which has reduced the space between these levels. Similarly, it is argued that the ‘war on terror’ involves the intersection of fear, security, threat, risk and social control as features of both the international ‘war on terror’ and intra state policies.

Keywords: terrorism, war on terror, cosmopolitanism, global level terrorism

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Authors: Memar Ayalew Demeke, Solomon Gebreyohans Gebru

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In Africa, Regional Economic Communities (RECs) were initially established to tackle the economic challenges of the continent. However, overtime, they expanded their mandate to deal with the security threats of the continent such as terrorism. In fact, the fight against terrorism has been internationalized following the September 9/11 terrorist attack in the U.S.A. Since then, RECs have been giving considerable attention to preventing and combating terrorism in their respective regions. Similarly, IGAD has been involved in preventing and combating terrorism. So far, however, little has been done with regard to what IGAD has performed in fighting terrorism. Therefore, this study was intended to describe and analyze the legal and practical activities carried out by IGAD in its fight against terrorism in the region general and in Somalia in particular. Both descriptive and analytical methods were employed and data were analyzed through qualitative approach. Finally, based on the findings, the study argues that, instead of over-reliance on hard power as a means of fighting terrorism, IGAD should invest more on the political and socio-economic problems of its member states so as to address the root causes.

Keywords: regional economic communities, IGAD, terrorism, treaties, conventions

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Authors: Aulia Rosa Nasution

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This research aims to analyze the involvement of the Indonesian Armed Forces in overcoming terrorism acts under legal perspectives based on Acts No. 34 of 2004, which regulates the role and mechanism of the Indonesian Armed Forces in combating terrorism. The main question of this research is, firstly, the military authority in combating terrorism acts, secondly, the implementation of Acts Number 34/2000, and thirdly, law enforcement to combat terrorism under national and international law. The methodology of this research is juridical normative based on the legal instruments and legal principles, and international norms. The result of this study explains the involvement of the Indonesian Army in combating terrorism as a part of the nonmilitary operation which has been implemented in Indonesia as part of national defence and security.

Keywords: acts of terrorism, Indonesian armed forces, legal protection

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Authors: Muthukuda Arachchige Dona Shiroma Jeeva Shirajanie Niriella

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Suppressing terrorism and ensuring peace and security of the people is one of the topics which have gained serious attention of the world community. Commissions of terrorist activities, locally and internationally lead to an uncertainty of peace and security, violations of human rights of the people. Thereby it demands stringent security laws and strong criminal justice systems, both at domestic and international levels. This paper intends to evaluate security laws in Sri Lanka through the criminal justice perspective, including their efficacy in relation to combat terrorism. The paper further intends to discuss the importance of such laws in upholding the peace and security at both local and universal levels. The paper argues that the term ‘efficacy’ does not stand for, sending people to jail at large-scale, but the ability to combat terrorism crime without violating the rights of the innocent people. The qualitative research method is followed to conduct this research which contains an extensive examination of security laws available as counter-terrorism laws in Sri Lanka with the relevant international standards adopted by the UN treaties. Primary sources which are relevant to the research, including judicial pronouncements are also discussed in this regard. Secondary sources such as reports, research articles and textbooks on this topic and information available on the internet are also reviewed in this analysis.

Keywords: terrorism, security laws, criminal justice system, Sri Lanka, international treaty law

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Authors: Ishtiaq Ahmad Gondal, Mubasher Hussain

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Although the world always has spent a lot to counter the terror, thousands of millions of dollars have been spent in this regard after 9/11 that result to thwart some dangerous plots of terrorists. It is also un-ignorable that the terrorists, keeping the counterterrorist actions in their mind, always planned new ways for their operations, yet there is one thing still common in most terrorists' attacks: to use the label of religion, regardless any specific religion, in any form. The terrorism, in past few years, has also hit state's security, its consistency and coherence for achieving their cultural, political and military objectives. So, if they are not treated harshly for making the people's minds and their society dirty they will continue spreading chaos, anarchy and destruction among the ignorant and innocent people. Australia is doing its best to eliminate terrorism by using different tools such as by educating people and reducing poverty. There is still need to improve the tool of education as it can be used as one of the most effective tools to counter the terrorism. It is, as this paper will highlight, the need of contemporary time for establishing some high level educational centers that can educate people and keep them safe from any kind of terror incident. This study also concluded that common man, to keep himself saved from such activities and incidents, can be educated through public awareness movements and campaigns on media and at social gatherings. There is, according to the study, a need to reorganize the curriculum taught in different educational institutions especially in Islamic Schools (Madāris) that are assumed by some western writers as place of extremists, for the better understanding of moral and social obligations, fundamental rights, religious beliefs as well as cultural and social values to promote social justice and equality. This paper is an attempt to show the role of the Sheikh Zayed Islamic Centre in this regard.

Keywords: social justice, counterterrorism, educational policy, religion, peace, terrorism

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Authors: Ahmed Bux Jamali

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The purpose of this study is to examine and evaluate the overall counterterrorism cooperation during Obama Administration towards Pakistan. It aims and focuses on the performances and measures taken by United States of America during President Obama in office in order to eradicate terrorism from Pakistan. Being a grave national security threat, terrorism played a disastrous role in the domestic peace and stability of both countries. For the sake of curbing this menace in South Asia in general and Pakistan in particular, the role of Obama Administration is viable and results-oriented despite major ups and downs in Pakistan U.S Relations during that period of time. Obama administration formulated policies when he comes to office in 2009 by looking at the already efforts done by Bush Administration to counterterrorism from Pakistan. Obama’s foreign policy was revolving around defense and diplomacy when it comes to dealing with Pakistan. The concept of smart power was indeed a core principle of Obama’s administration to gain the strategic objectives in Pakistan. Obama’s strategies in terms of providing military aid packages and various assistance programs, working on institutional building and strengthening the economy helped Pakistan in strengthening the military capabilities to go for militant operation in the safe havens area in the tribal areas of Pakistan. It further helped building institutional mechanism in the governmental policies to counter terrorism and militancy. The training of combat forces, artillery, and equipment provided by US proved fatal for the militant terrorist organizations seeking hideouts in the tribal areas of Pakistan. Resultantly, many top leaders of al Qaeda and many affiliated militant groups were captured and given to US as well. Despite many ups and downs in the bilateral relations on various domestic and international issues, both countries didn’t compromise the elimination of terrorist phenomena from Pakistan which was indeed a great success of the Obama administration’s counterterrorism and counterinsurgency strategies in the long run.

Keywords: counterterrorism cooperation, national security strategy, Obama administration, Pakistan-US relations

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Authors: Nataliya Venelinova

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The paper proposes a new interdisciplinary model of reconsidering the role of mass communication effects by coverage of terrorism. The idea of 4P model is based on the synergy, created by the information strategy of threat, predominantly used by terrorist groups, the effects of mediating the symbolic action of the terrorist attacks or the taking of responsibility of any attacks, and the reshaped public perception for security after the attacks being mass communicated. The paper defines the mass communication cycle of terrorism, which leads not only to re-agenda setting of the societies, but also spirally amplifying the effect of propagating fears by over-informing on terrorism attacks. This finally results in the outlining of the so called 4P-model of information terrorism: mass propaganda, panic, paranoia and pandemic.

Keywords: information terrorism, mass communication cycle, public perception, security

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Authors: N. Yachou, R. Aboulaich

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Home is a basic necessity for human life, that why home financing takes a large chunk of people’s income. Therefore, Islamic and Conventional Banks try to offer new product in order to respond to customer needs related to home financing. Basing on this fact, we propose a Modified Diminishing Partnership model based on profit and loss sharing to reduce the duration of getting the full shares in the house property. Our proposition will be represented by the rental that customer has to give every month to the bank with redemption to increase his shares on the property of the house.

Keywords: home financing, interest rate, rental rate, modified diminishing partnership

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Authors: Koffi Sodokin

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Financing microstructures are increasingly seen as a means of financial inclusion and improving overall well-being in developing countries. In practice, digital transformation in finance can accelerate the optimal functioning of financing microstructures, such as access by households to microfinance and microinsurance. Large households' access to finance can lead to a reduction in income inequality and an overall improvement in well-being. This paper explores the impact of access to digital finance and financing microstructures on household well-being and the reduction of income inequality. To this end, we use the propensity score matching, the double difference, and the smooth instrumental quantile regression as estimation methods with two periods of survey data. The paper uses the FinScope consumer data (2016) and the Harmonized Living Standards Measurement Study (2018) from Togo in a comparative perspective. The results indicate that access to digital finance, as a cultural game changer, and to financing microstructures improves overall household well-being and contributes significantly to reducing income inequality.

Keywords: financing microstructure, microinsurance, microfinance, digital finance, well-being, income inequality

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Authors: Anees Tahir

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Margin financing plays a significant role in Pakistan's stock market (PSX), offering investors the opportunity to maximize profits by borrowing funds from financiers to purchase marginable stocks. However, this financial practice raises several Shariah-related concerns. The study follows legal doctrinal research methodology. It explains and analyzes the law of margin financing prevailing in PSX and compares it with the principles of Shariah. It also examines and investigates the practices of margin financing from the perspective of Shariah. As part of the study, the researcher has conducted structured interviews with the Shariah advisors of the finance industry, academicians, market practitioners, and regulators. Thus, the study analyzes the findings of interviews. This article explores the legal framework and practice of margin financing in Pakistan from a Shariah perspective. The article investigates various issues relating to margin financing, including the fundamental concern of interest-based lending, which contravenes Islamic principles. It also highlights the problematic subject matter of margin financing, often involving non-Shariah compliant securities. Additionally, the article addresses the restriction on proprietary rights and the problematic element of speculation associated with margin financing. To provide a Shariah-compliant alternative, the Securities and Exchange Commission of Pakistan (SECP) introduced Murabahah Shares Financing (MSF) in 2019. However, the focus of the market is still on conventional margin financing. In the opinion of the researcher, the effective implementation of MSF is imperative because in the absence of such an alternative, the faith sensitive investor will remain deprived of a level playing field, and he is unable to get required financing opportunities through a halal and Shariah-compliant manner. This article argues that margin financing in its current form is incompatible with Shariah principles and should be discontinued. It is recommended that the SECP should gradually phase out the use of margin financing and increase reliance on MSF to provide faith-sensitive and committed investors with Shariah-compliant financing options.

Keywords: margin financing, marginable stocks, faith sensitive investor, Murabahah shares financing

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Authors: Khaleed Alsufyyan

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This doctoral research has been successfully approved by a specialist upgrade panel, and it presents the proposition that the KSA policy for combating maritime terrorism is inadequate and current governance frameworks, including laws, are insufficiently developed to respond effectively and fairly to maritime terrorism. It will examine the legal system in the KSA in terms of effectiveness fairness, as well as investigate this proposition to determine what factors have contributed to such a deficiency. The main focus of this research will draw upon the policies, laws, and practices of the KSA, as well as UK and international laws and policies, to assess whether it is feasible to apply them in the context of the KSA. This thesis will recommend strategies regarding maritime terrorism to enrich the legal and policy frameworks and address the current and future dynamics of maritime terrorism adequately. To derive suitable improvements, UK policies, laws, and practices will be considered for policy transfer purposes. As for studies focused on the KSA, since the KSA is a Muslim state, it will be important to assess the impact of Islamic Law or Sharia Law subject to the doctrines of fairness and effectiveness to comprehend how the KSA’s legal system operates and determine the boundaries it sets for the response to maritime terrorism. This thesis will propose that more reforms are needed to effectively and fairly deal with maritime terrorism based on the prevailing understanding of Sharia law. The research will address the international perspectives on the problem of maritime terrorism and international cooperation of the KSA regarding maritime terrorism and consider the need for further developments.

Keywords: maritime terrorism, maritime security, combat maritime terrorism in the KSA, protecting maritime transport against terrorism

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Authors: Erhan Turgut, Salih Ergün, Abdülkadir Öz

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Terror is a modern war strategy which uses violence as a means of communication in order to achieve political objectives. In today’s security environment narrowing the propaganda field of terrorist organization is the primary goal for the security forces. In this sense, providing and maintaining public support is the most necessary ability for security units. Rather than enemy and threat-oriented approach, homeland security oriented approach is essential to ensure public support. In this study, terror assumed as a homeland security issue and assigning the law enforcement forces with military status is analyzed.

Keywords: terrorism, counter-terrorism, military status law-enforcement, terrorist groups

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Authors: M. H. Arslan, U. K. Sahin, H. Acikgoz-Tufan, I. Gocek, I. Erdem

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Various exterior factors have perpetual effects on textile materials during wear, use and laundering in everyday life. In accordance with their frequency of use, textile materials are required to be laundered at certain intervals. The medium in which the laundering process takes place have inevitable detrimental physical and chemical effects on textile materials caused by the unique parameters of the process inherently existing. Connatural structures of various textile materials result in many different physical, chemical and mechanical characteristics. Because of their specific structures, these materials have different behaviors against several exterior factors. By modeling the behavior of commercial and test textiles as group-wise against laundering process, it is possible to disclose the relation in between these two groups of materials, which will lead to better understanding of their behaviors in terms of similarities and differences against the washing parameters of the laundering. Thus, the goal of the current research is to examine the behavior of two groups of textile materials as commercial textiles and as test textiles towards the main washing machine parameters during laundering process such as temperature, load quantity, mechanical action and level of water amount by concentrating on shrinkage, pilling, sewing defects, collar abrasion, the other defects other than sewing, whitening and overall properties of textiles. In this study, cotton fabrics were preferred as commercial textiles due to the fact that garments made of cotton are the most demanded products in the market by the textile consumers in daily life. Full factorial experimental set-up was used to design the experimental procedure. All profiles always including all of the commercial and the test textiles were laundered for 20 cycles by commercial home laundering machine to investigate the effects of the chosen parameters. For the laundering process, a modified version of ‘‘IEC 60456 Test Method’’ was utilized. The amount of detergent was altered as 0.5% gram per liter depending on varying load quantity levels. Datacolor 650®, EMPA Photographic Standards for Pilling Test and visual examination were utilized to test and characterize the textiles. Furthermore, in the current study the relation in between commercial and test textiles in terms of their performance was deeply investigated by the help of statistical analysis performed by MINITAB® package program modeling their behavior against the parameters of the laundering process. In the experimental work, the behaviors of both groups of textiles towards washing machine parameters were visually and quantitatively assessed in dry state.

Keywords: behavior against washing machine parameters, performance evaluation of textiles, statistical analysis, commercial and test textiles

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Authors: Amrial, Yuri Oktaviani, Ziyan Muhammad Farhan

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On the phase of shifting paradigm into sustainability, Indonesia is involved in Sustainable Development Goals (SDGs) project. That act is revealed by creating Medium and Long Term Roadmap for Sustainable Finance in Indonesia which collaborated design by Indonesia Financial Service Board (OJK) and Ministry of Environment and Forestry. One of alternative for that infrastructure financing is sharia-based financing, Green Sukuk (Sukuk specified on sustainable infrastructure project). Green Sukuk for infrastructure financing in Indonesia can be issued by the government in the form of Sukuk Project Financing. Moreover, banks in Indonesia can also participate for the issuance of Green Sukuk. So that the banks can create a financing for people who are concerned about environmental issues. By using qualitative methods and literature review, this paper aims to discuss potential, strategy and planning of Green Sukuk for financing sustainable infrastructure in the purpose of SDGs. This paper will benefit for government to give scientific discussion on the strategy of Green Sukuk in promoting sustainable goals infrastructure project in Indonesia.

Keywords: green sukuk, infrastructure, SDGs, sustainable

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Authors: Miguel Manero De Lemos

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The ‘innovative and creative’ seminal decision of the Special Tribunal for Lebanon (STL) was not welcomed by academic opinion. The court recognized that terrorism is a crime under international law in times of peace. Scholars widely – and sometimes aggressively – criticize this conclusion. This article asserts that, while some aspects of the decision of the STL might be defective, the basic premise, that it is indeed such a crime, is sound. This article delves into the method that the court used to attain such an outcome and explains why the conclusion of the court is correct, albeit the use of a different method is to be preferred. It also argues that subsequent developments leave little room to keep arguing that there is no international crime of terrorism.

Keywords: terrorism, STL, crime, international criminal law

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Authors: Abdurrahman Karacabey

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Threat paradigm has shifted throughout the history. Considering conjuncture of our time, a major threat for humanity is terrorism. Although variety of reasons are influential, financial, and human resources are the vital needs for terrorist groups. It is known that terrorism is a significant term while taking decisions in diplomatic, politic, and military issues. Even though the methods to provide resources for terrorism are quite similar, there are still some differences for deterrent terrorist groups being active in various regions of the globe. Due to social and psychological reasons activists have generally similar excuses to join terrorist groups.At the same time, terrorists’ fiscal activities to secure permanence of terrorism, occupy the politics of the countries. Besides, preventive actions are expensive creating huge burdens in host nation’s economy. This paper elaborates on how ISIS is providing human and economic resources, course of actions to overcome ISIS is on the agenda of all countries.

Keywords: financial resources, human resources, isis, terrorism

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Authors: Andri Ottesen, Sam Toglaw, Mirna Safa

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Entrepreneurial companies on their developing path from an idea to a corporation go through a similar six-step process. Each of these six development steps is supported by a distinctive financing path. This paper explores the Kuwait model for Entrepreneurial Finance and Development through in-depth interviews with ten successful Kuwaiti entrepreneurs. This paper offers insight into the development and financing of entrepreneurial companies in this oil-rich, predominantly Islamic country that are in many ways different from the steps. Western entrepreneurial companies go through. This model could be used to understand the commonalities and the difference between entrepreneurial development and financing and could be used to bridge the gap.

Keywords: entrepreneurial-financing, entrepreneurial-developing, Kuwait, Vancouver school

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Authors: Fady Tawakol

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BitCoin is a decentralized cryptocurrency that can be used without the need of traditional central banks to accomplish any e-commerce trade. The use of such currency could facilitate new economic interactions and linkages. However, without effective and efficient regulations, cryptocurrency transactions are mostly used by criminals to commit crimes such as money laundering, theft, and blackmailing. And because law is one step behind technological developments, this paper discusses the importance of regulations and supervision for the BitCoin-system, to provide unified regulatory solutions for our digital future in the Middle East. It will provide a detailed analysis of the legal nature of BitCoin along with, its regulation with respect to criminal and civil law.

Keywords: BitCoin, financial protection, crypto currency, money laundering

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Authors: N. Khomarloo, F. Mousazadegan, M. Latifi, N. Hemmatinejad

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Recently, the utilization of reusable surgical gowns in order to decrease costs, environmental protection and enhance surgeon’s comfort is considered. One of the concerns in applying this kind of medical protective clothing is reduction of their resistance to bacterial penetration especially in wet state, after repeated laundering and sterilizing process. The purpose of this study is to investigate the effect of the laundering and sterilizing process on the reusable surgical gown’s resistance against bacterial wet penetration. To this end, penetration of Staphylococcus aureus bacteria in wet state after 70 washing and sterilizing cycles was evaluated on the two single-layer and three-layer reusable gowns. The outcomes reveal that up to 20 laundering and sterilizing cycles, protective property of samples improves due to fabric shrinkage, after that because of the fabric’s construction opening, the bacterial penetration increase. However, the three-layer gown presents higher protective performance comparing to the single-layer one.

Keywords: laundry, porosity, reusable surgical gown, sterilization, wet bacterial penetration

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Authors: Daniel Alati

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Recent high-profile terrorist events in Canada, the United Kingdom and Europe – the London Bridge attacks, the terrorist attacks in Nice, France and Barcelona, Spain, the 2014 Ottawa Parliament attacks and the 2017 attacks in Edmonton – have all raised levels of public and academic concern with so-called “lone-wolf” and “radicalized” terrorism. Similarly, several countries outside of the “Western” world have been dealing with radicalization to violent extremism for several years. Many South East Asian countries, including Indonesia, Malaysia, Singapore and the Philippines have all had experience with what might be described as ISIS or extremist-inspired acts of terrorism. Indeed, it appears the greatest strength of groups such as ISIS has been their ability to spread a global message of violent extremism that has led to radicalization in markedly different jurisdictions throughout the world. These markedly different jurisdictions have responded with counter-radicalization strategies that warrant further comparative analysis. This paper utilizes an inter-disciplinary legal methodology. In doing so, it compares legal, political, cultural and historical aspects of the counter-radicalization strategies employed by Canada, the United Kingdom and several South East Asian countries (Indonesia, Malaysia, Singapore and the Philippines). Whilst acknowledging significant legal and political differences between these jurisdictions, the paper engages in these analyses with an eye towards understanding which best practices might be shared between the jurisdictions. In doing so, it presents valuable findings of a comparative nature that are useful to both academic and practitioner audiences in several jurisdictions.

Keywords: Canada, United Kingdom and South East Asia, comparative law and politics, radicalization to violent extremism, terrorism

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Authors: Núria Arimany Serrat, Xavier Ferràs Hernández, Petra A. Nylund, Eric Viardot

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Innovation is an increasingly important antecedent to firm competitiveness and growth. Successful innovation, however, requires a significant financial commitment and the means of financing accessible to the firm may affect its ability to innovate. The access to equity financing such as venture capital has been connected to innovativeness for young firms. For established enterprises, debt financing of innovation may be a more realistic option. Continuous innovation and growth would otherwise require a constant increase of equity. We, therefore, investigate the relation between debt financing and innovation for large firms and hypothesize that those firms that carry more debt will be more innovative. The need for debt financing of innovation may be reduced for very profitable firms, which can finance innovation with cash flow. We thus hypothesize a moderating effect of profitability on the relationship between debt financing and innovation. We carry out an empirical investigation using a longitudinal data set including 167 large European firms over five years, resulting in 835 firm years. We apply generalized least squares (GLS) regression with fixed firm effects to control for firm heterogeneity. The findings support our hypotheses and we conclude that access to debt finding is an important antecedent of innovation, with profitability as a moderating factor. The results do however differ across national innovation systems and we find a strong relationship for British, Dutch, French, and Italian firms but not for German and Spanish entities. We discuss differences in the national systems of innovation and financing which contextualize the variations in the findings and thus make a nuanced contribution to the research in innovation financing. The cross-country differences calls for differentiated advice to managers, institutions, and researchers depending on the national context.

Keywords: innovation, R&D, national innovation systems, financing

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Authors: Renny Wulandari

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This study aims to determine how the influence of Non Performing Financing, Financing Deposit Ratio, Operating Expenses and Operating Revenue and Net Income Margin on the disclosure of financial risk in Sharia banks. To achieve these objectives conducted associative research method with data source in the form of secondary data that is annual report data with period 2013-2016. The population in this study is the sharia banking industry in Indonesia and who issued the annual financial statements. A method of sampling use probability sampling. Analysis in this research is with SEM-PLS. The result is Net Income Margin has a significant effect on financial risk disclosure while Non Performing Financing (NPF) Financing to Deposit Ratio (FDR), Operating Expenses and Operating Revenue (OEOR) have no effect on the disclosure of financial risk in sharia bank.

Keywords: Sharia banks, disclosure of risk financial, non performing financing, financing deposit ratio, operating expenses and operating revenue, net income margin

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Authors: Saghir Ahmad, Abid Hussain Ch, Misbah Malik, Ayesha Batool

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Terrorism is the marvel in which dreadful circumstance is made by a gathering of individuals who view themselves as abused by society. Terrorism is the unlawful utilization of power or viciousness by a man or a sorted out gathering by the general population or property with the aim of intimidation or compulsion of social orders or governments frequently for ideological or political reasons. Terrorism is as old as people. The main aim of the study was to find out the causes of terrorism through the perceptions of the universities students of teacher training institutions. This study was quantitative in nature. Survey method was used to collect data. A sample of two hundred and sixty seven students was selected from public universities. A five point Likert scale was used to collect data. Mean, Standard deviation, independent sample t-test, and One Way ANOVA were applied to analyze the data. The major findings of the study indicated that students perceived the main causes of terrorism are poverty, foreign interference, wrong concept of Islamization, and social injustice. It is also concluded that mostly, students think that drone attacks are promoting the terrorist activities. The education is key to eliminate the terrorism. There is need to educate the people and specially youngsters to bring the peace in the world.

Keywords: dreadful circumstance, governments, power, students, terrorism

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Authors: Milda Istiqomah

Abstract:

The current trends demonstrate that the number of women involved in terrorism is steadily increasing. There are at least two types of roles that women assume in terrorism; the ‘visible role’ and ‘invisible role’. Both roles are very important to the sustainability of terrorism and terrorist organizations. The findings of this paper are based on the analysis of multiple case study from two terrorism verdicts in Indonesia, media reports and academic journals. This paper argues that women in Jemaah Islamiyah (JI) play an important role in both categories. They are involved in this organization by marital and kinship linkages which aim to secure the networks and regenerate the Jihadi ideology within JI. Finally, this paper states that the role of women in JI is significant due to its importance in delivering the idea of Jihad to younger generations.

Keywords: terrorism, women, jihadi movement, case study

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Authors: Fatin Fadhilah Hasib, Puji Sucia Sukmaningrum, Imron Mawardi, Achsania Hendratmi

Abstract:

Murabaha is the most popular contract by the Islamic banks in Indonesia, since there is opinion stating that the risk level of mudharaba and musyaraka are higher and the return is uncertain. This research aims to analyze the difference of return, risk, and variation coefficient between profit sharing-based and trading-based financing in Islamic bank. This research uses quantitative approach using Wilcoxon signed rank test with data sampled from 13 Indonesian Islamic banks, collected from their quarterly financial reports from 2011 to 2015. The result shows the significant difference in return, while risk and variation coefficient are almost same. From the analysis, it can be concluded that profit sharing-based financing is less desirable not because of its risk. Trading-based financing is more desirable than the profit sharing because of its return.

Keywords: financing, Islamic bank, return, risk

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Authors: Izabela Nowicka, Jacek Dworzecki

Abstract:

The paper will be presented to selected legal and organizational solutions for the prevention and combating of terrorism by the police in Poland. Development will include information on the organization and functioning of the police anti-terrorist sub-units, whose officers are on the front line of the fight against terrorism. They will be presented to the conditions and cases of use of firearms by police officers in the course of special operations aimed against organizations and terrorist groups, and the perpetrators of criminal acts of terrorism as well as the legal foundation for the Polish police to take immediate counterterrorism operations. Article will be prepared in the context of an international research project entitled. Understand the Dimensions of Organised Crime and Terrorist Networks for Developing Effective and Efficient Security Solutions for First-line-practitioners and Professionals [Project: H2020-FCT-2015, No: 700688].

Keywords: the fight against terrorism, police, Poland, takedown

Procedia PDF Downloads 305