Search results for: ethical banking

Authors: Rashid Masoud Ali Al-Mazrui, Ramadhani Mashaka Shabani

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Islamic banks and financial institutions are exposed to the same risks as conventional banking. These risks include the rate return risk, credit or market risk, liquidity risk, and operational risk among others. However, being a financial institution that operates Islamic banking and finance operations, there is additional risk associated with its operations different from conventional finance, such as displacing commercial risk. They face Shari'ah compliance risks because of their failure to follow Shari'ah principles. To have proper mitigation and risk management, banks should have proper risk management policies to mitigate risks. This paper aims to study the risk management taken by Islamic banks in comparison with conventional banks. Also, the study evaluates the provisions for risk management taken by selected Islamic banks and conventional banks. The study employs qualitative analysis using secondary data by applying a content analysis approach with a sample size of 4 Islamic banks and four conventional banks ranging from 2010 to 2020. We find that these banks all use the same technique, except for the associated risk. The extra ways are used, but only for additional risks that are available to Islamic banking and finance.

Keywords: emerging risk, risk management, Islamic banking, conventional bank

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Authors: Gamith Mendis

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Even though the doctors are knowledgeable, there's a gap between knowing and being ethical. This is a barrier to establish an ethical doctor-patient relationship. Current health system has oriented in a way that gives a meaning to both the doctor and the patient through intermediate entities. For the doctor, the meaning of the doctor-patient relationship is given through the financial benefits, promotions, and social status. For the patient, the meaning is given through curing of the disease. It is obvious that both are independent entities between the doctor and the patient. As the philosophers like Husserl and Heidegger have pointed out, our subjective world will give the immediate meaningfulness to us. We should seek this immediate meaningfulness of the doctor-patient relationship. The present research has used the existential methodology as guided self-reflections on the lived experiences of a doctor and his students. In this approach, two important aspects have been understood. The first is, establishing the fact that being ethical is itself giving meaningfulness to the doctor’s being without any mediate entities. Simply, it is enjoying being an honest being. The second is by being-with-the-patient while treating the disease; both the doctor and the patient can enjoy the meaningfulness of their human relationship. The medical students and the doctors should focus on this meaningfulness. For that, this discussion should be actively incorporated into the medical curriculum with programs of practical guidance to medical students and should be discussed in patient-care reviews in the health setting within a satisfactory framework.

Keywords: doctor-patient relationship, medical education, medical ethics, medical humanities, qualitative health research

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Authors: Bilal Ahmad Malik

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With the fall of Soviet Union in 1991 the whole Central Asian region saw a dramatic rise in Muslim identity, a call back to Islamic legacy. Today, many Central Asian Muslims demand, what Islam has termed legal (Halal) and, avoid what Islam has termed illegal (Haram). The process of Islamic resurgence kicked off very quickly soon after the integration of Central Asian republics with other Muslim geographies through the membership of Organization of Islamic Conference (OIC) and other similar organizations. This interaction proved to be a vital push factor to the already existing indigenous reviving trends and sentiments. As a result, along with many other requirements, Muslim customer demand emerged as navel trend in the market in general and in banking and financial sector in particular. To get this demand fulfilled, the governments of CIS states like Kazakhstan, Uzbekistan, Azerbaijan, Turkmenistan, Kyrgyzstan and Tajikistan introduced Halal banking and financial products in the market. Firstly, the present paper would briefly discuss the core composition of Halal banking and financial products. Then, coming to its major theme, it would try to identify and analyze the causes that lead to the emergence of Islamic banking and finance industry in the Muslim majority Post-Soviet CIS States.

Keywords: causes, Central Asia, interest-free banking, Islamic Revival

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Authors: Farnaz Farzadnia, Ahmad Alibabaei

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Enterprise Resource Planning (ERP) systems are considered as complicated information systems. Many organizations failed implementing ERP systems because it is a very difficult, time-consuming and expensive process. Enterprise resource planning system is appropriate for organizations in all economic sectors. As banking is currently considered a non-typical area for ERP usage, there are very little studies on ERP implementation in banking. This paper presents a general risks taxonomy. In this research, after identifying implementation risks, a process quality management method has been applied to identify relations between risks of implementation ERP in banking sectors and implementation phases. Oracle application implementation method titled as AIM used in this research for classifying the risks. These findings will help managers to develop better strategies for supervising and controlling ERP implementation projects.

Keywords: AIM implementation, bank, enterprise resource planning, risk, process quality management method

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Authors: Seyed Salahedin Naghshbandi, Mahnaz Ahmadikhatir, Siavash Hamidzadeh

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The purpose of this study was to investigate the relationship between organizational political behavior and ethical values with the job enthusiasm of the sport personnel of the National Iranian Gas Company. The population of this research included all personnel of the National Iranian Gas Company's sports personnel (150 people). For collecting information, library resources and three questionnaires, organizational political behavior by Kaspar and Carlsen (1997), Lewall's moral values questionnaire (1986) and job enthusiasm questionnaire Schaufeli & Bekker (2003) have been used. Validity of the questionnaires was confirmed by university professors. Using Cronbach alpha correlation coefficient, the reliability of the organizational political behavior questionnaire was 0.92, the moral values questionnaire was 0.86 and the Schaufeli & Baker job enthusiasm questionnaire was 0.91-0.96. The results of this research show a significant, direct and positive relationship between the components of job aspiration with political behavior and ethical values. Therefore, managers of organizations should, as far as possible, remove political behaviors from the organization and be able to institutionalize ethical values in their organization so that they can increase employee eagerness.

Keywords: political behavior, ethical values, job enthusiasm, staff, national Iranian gas company

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Authors: Md. Abdul Kader

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Several reports released by Global Financial Integrity (GFI) in recent times have identified Bangladesh as being among the worst affected countries to the scourge of money laundering (ML) and terrorist financing (TF). The money laundering (ML) and terrorist financing (TF) risks associated with conventional finance are generally well identified and understood by the relevant national authorities. There is, however, no common understanding of ML/TF risks associated with Islamic Banking. This paper attempts to examine the issues of money laundering (ML) and terrorist financing (TF) in Islamic Banks of Bangladesh. This study also investigates the risk factors associated with Islamic Banking system of Bangladesh that are favorable for ML and TF and which prevent the government to control such issues in the Islamic Banks of Bangladesh. Qualitative research methods were employed by studying various reports from journals, newspapers, bank reports and periodicals. In addition, five ex-bankers who were in the policy making bodies of three Islamic Banks were also interviewed. Findings suggest that government policies regarding Islamic Banking system in Bangladesh are not well defined and clear. Shariah law, that is the guiding principle of Islamic Banking, is not well recognized by the government policy makers, and thus they left the responsibility to the governing bodies of the banks. Other challenges that were found in the study are: the complexity of some Islamic banking products, the different forms of relationship between the banks and their clients, the inadequate ability and skill in the supervision of Islamic finance, particularly in jurisdictions, to evaluate their activities. All these risk factors paved the ground for ML and TF in the Islamic Banks of Bangladesh. However, due to unconventional nature of Banking and lack of investigative reporting on Islamic Banking, this study could not cover the whole picture of the ML/TF of Islamic Banks of Bangladesh. However, both qualitative documents and interviewees confirmed that Islamic Banking in Bangladesh could be branded as risky when it comes to money laundering and terror financing. This study recommends that the central bank authorities who supervise Islamic finance and the government policy makers should obtain a greater understanding of the specific ML/TF risks that may arise in Islamic Banks and develop a proper response. The study findings are expected to considerably impact Islamic banking management and policymakers to develop strong and appropriate policy to enhance transparency, accountability, and efficiency in banking sector. The regulatory bodies can consider the findings to disseminate anti money laundering and terror financing related rules and regulations.

Keywords: money laundering, terror financing, islamic banking, bangladesh

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Authors: Ya'u Saidu

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The introduction of the non-interest banking system in Nigeria was part of the regulators efforts to increase the inclusion of other stakeholders into the financial sector who have stayed out of the sector for some reasons. However, the concept has been misunderstood by various stakeholders within the country where some view it as a Muslim affair which exclude the non-Muslims from gaining despite its existence in advance countries of the world. This paper attempts to fill-in the gap created by the literature especially with regards to the proper education and enlightenment of the Nigerian citizens. Survey research method was employed where primary data was collected using questionnaire and convenience sampling was used to select 100 respondents. The data was analysed using Chi-square. It was found that lack of knowledge on Islamic banking has significant effect on its prospects.

Keywords: finance, non-interest, sustainability, enlightenment

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Authors: Ingrid Van Der Heijden, Naeemah Abrahams, Jane Harries

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Background: Women with disabilities are largely missing from global research on violence prevention, yet research shows that women with disabilities are a particularly marginalised group who experience heightened levels and unique forms of violence than men with disabilities, and women without disabilities. They face heightened stigma, discrimination, and violence due to their gender and their disability. Including women with disabilities in violence, research helps inform policy and prevention interventions that are relevant and inclusive. To ensure their inclusion in violence research, we need ethical guidelines that are sensitive to their heightened risk and vulnerability, that recognize the diversity in the disabled population, but that also promote disabled people’s agency in defining their own violence prevention needs and agendas. Objective: To highlight pertinent ethical issues around women with disabilities’ inclusion and participation in violence research. Methodology: Considering the lack of formalized guidelines for research of people with disabilities, we draw from the literature on international ethics guidelines for researching violence against women, and the Emancipatory Disability Research paradigm, as well as drawing from our own experiences from the field in applying the guidelines when doing research with disabled women. Findings: Following the guiding ethical principles of respect, benefit, justice, and do no harm, we argue that reasonable accommodation, capacity, and equal participation need to be considered in conceptualizing and conducting ethical violence research with women with disabilities. We conclude that disability research in the area of violence is highly politicized and must be carefully scrutinized to ensure justice and the contribution of women with disabilities to their own welfare. Implications: We suggest that these issues are practically applied in the field and tested and critiqued to enhance best practice for undertaking ethical research with this particular group. It is important that not only researchers and ethics committees, but also disabled women and disabled organizations, are involved in enhancing and formalizing ethical research guidelines for marginalized populations.

Keywords: capacity, emancipatory disability research paradigm equal participation, reasonable accommodation, research ethics, violence against women with disabilities

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Authors: Ngoc Dang Khoa Nguyen, Imran Ali

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The cloud customer relationship management (CRM) has emerged as an innovative tool to augment the customer satisfaction and performance of banking systems. Cloud CRM allows to collect, analyze and utilize customer-associated information and update the systems, thereby offer superior customer service. Cloud technologies have invaluable potential to ensure innovative customer experiences, successful collaboration, enhanced speed to marketplace and IT effectiveness. As such, many leading banks have been attracted towards adoption of such innovative and customer-driver solutions to revolutionize their existing business models. Chief Information Officers (CIOs) are already implemented or in the process of implementation of cloud CRM. However, many organizations are still reluctant to take such initiative due to the lack of information on the factors influencing its implementation. This paper, therefore, aims to delve into the strategies, benefits and challenges intertwined in the implementation of Cloud CRM in banking sector and provide reliable solutions.

Keywords: banking sector, cloud computing, cloud CRM, strategy

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Authors: Rizwan Ali, Hammad Zafar

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The purpose of this research is to investigate the mediation effect of customer satisfaction in the relationship between service quality, corporate image to customer loyalty, in Pakistan banking sector. The population of this research is banking customers and sample size of 210 respondents. This research uses the SPSS, Correlation, ANOVA and regression analysis techniques along with AMOS methods. The service quality and corporate image applied by the banks are not all variables can directly affect customer loyalty, but must first going through satisfaction. Which means that banks must first need to understand what the customer basic needs through variable service quality and corporate image so that the customers feel loyal when the level of satisfaction is resolved. The service quality provided by the banking industry needs to be improved in order to improve customer satisfaction and loyalty of banking services, especially for banks in Pakistan.

Keywords: customer loyalty, service quality, corporate image, customer satisfaction

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Authors: Sylvie Michel, Emmanuelle Gagnou, Joanne Hamet

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New major ethical dilemmas are posed by artificial intelligence. This article identifies an existing gap between the ethical questions that AI/robotics researchers grapple with in their research practice and those identified by literature review. The objective is to understand which ethical dilemmas are identified or concern AI researchers in order to compare them with the existing literature. This will enable to conduct training and awareness initiatives for AI researchers, encouraging them to consider these questions during the development of AI. Qualitative analyses were conducted based on direct observation of an AI/Robotics research team focused on collaborative robotics over several months. Subsequently, semi-structured interviews were conducted with 16 members of the team. The entire process took place during the first semester of 2023. The observations were analyzed using an analytical framework, and the interviews were thematically analyzed using Nvivo software. While the literature identifies three primary ethical concerns regarding AI—transparency, bias, and responsibility—the results firstly demonstrate that AI researchers are primarily concerned with the publication and valorization of their work, with the initial ethical concerns revolving around this matter. Questions arise regarding the extent to which to "market" publications and the usefulness of some publications. Research ethics are a central consideration for these teams. Secondly, another result shows that the researchers studied adopt a consequentialist ethics (though not explicitly formulated as such). They ponder the consequences of their development in terms of safety (for humans in relation to Robots/AI), worker autonomy in relation to the robot, and the role of work in society (can robots take over jobs?). Lastly, results indicate that the ethical dilemmas highlighted in the literature (responsibility, transparency, bias) do not explicitly appear in AI/Robotics research. AI/robotics researchers raise specific and pragmatic ethical questions, primarily concerning publications initially and consequentialist considerations afterward. Results demonstrate that these concerns are distant from the existing literature. However, the dilemmas highlighted in the literature also deserve to be explicitly contemplated by researchers. This article proposes that the journals these researchers target should mandate ethical reflection for all presented works. Furthermore, results suggest offering awareness programs in the form of short educational sessions for researchers.

Keywords: ethics, artificial intelligence, research, robotics

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Authors: Meysam Saidi

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While the specific externalities and required regulatory measures in relation to Islamic banking are fairly uncertain, the business is growing across the world. Unofficial data indicate that the Islamic Finance market is growing with annual rate of 15% and it has reached 1.3 $ trillion size. This trend is associated with inherent systematic connection of Islamic financial institutions to other entities and different sectors of economies. Islamic banking has been subject of market development policies in major economies, most notably the UK. This trend highlights the need for identification of distinct risk features of Islamic banking and crafting customized regulatory measures. So far there has not been a significant systemic crisis in this market which can be attributed to its distinct nature. However, the significant growth and spread of its products worldwide necessitate an in depth study of its nature for customized congruent regulatory measures. In the post financial crisis era some market analysis and reports suggested that the Islamic banks fairly weathered the crisis. As far as heavily blamed conventional financial products such as subprime mortgage backed securities and speculative credit default swaps were concerned the immunity claim can be considered true, as Islamic financial institutions were not directly exposed to such products. Nevertheless, similar to the experience of the conventional banking industry, it can be only a matter of time for Islamic banks to face failures that can be specific to the nature of their business. Using the experience of conventional banking regulations and identifying those peculiarities of Islamic banking that need customized regulatory approach can aid to prevent major failures. Frank Knight has stated that “We perceive the world before we react to it, and we react not to what we perceive, but always to what we infer”. The debate over congruent Islamic banking regulations might not be an exception to Frank Knight’s statement but I will try to base my discussion on concrete evidences. This paper first analyzes both theoretical and actual features of Islamic banking in order to ascertain to its peculiarities in terms of market stability and other externalities. Next, the paper discusses distinct features of Islamic financial transactions and banking which might require customized regulatory measures. Finally, the paper explores how a more transparent path for the Islamic banking regulations can be drawn.

Keywords: Islamic banking, regulation, risks, capital requirements, customer protection, financial stability

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Authors: Nnedum Obiajuru Anthony Ugochukwu, Ezechukwu Emmanuel Ntomchukwu

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The research investigated the importance of marketing and customer relationship management in post-consolidated banks in achieving success and survival in the face of intense competition and global economic meltdown. The problem lies in the fact that during the pre-consolidation era in the banking industry in Nigeria, banks were comfortable transacting their businesses from their armchairs. Little attention was paid to marketing by banks as a veritable means of achieving and consolidating their profit position. This situation, no doubt sustained because banks were more or less currency exchange centers where customers buy and sell foreign exchange which was highly demanded, but in very short supply. Today, deregulation and consolidation of banks in Nigeria have tremendously increased the tempo of activities in the banking industry, and competition has become very severe among banks. The weak link in the success of post-consolidated banks in Nigeria is the utter neglect, and light or unserious consideration of customer relationship marketing by banks. Armchair banking which banks have been practicing has no regard for marketing as a means to survival. However, in order to survive, post-consolidated banks must take relationship marketing and customer relationship management seriously especially in the face of the current global economic crisis. This paper aims at exploring the role of marketing in building and managing customer relationships as a means to survival in post-consolidation banking in Nigeria.

Keywords: marketing, customer relationships, banking sector, Nigeria

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Authors: Jillian Gardner, Hilde D. Miniggio

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The increasing prevalence of obesity has driven the pursuit of alternative weight loss strategies, such as jaw wiring (or ‘slimming wires’), a technique known in the medical community as maxillomandibular fixation, which has evolved beyond its original intention of treating temporomandibular joint disorders. Individuals have increasingly sought and utilized the procedure for weight loss purposes. Although legal in South Africa, this trend presents dentists with ethical dilemmas, as they face requests for interventions that prioritize aesthetic preferences over medical necessity. Drawing on scholarly literature and the four principles framework of Beauchamp and Childress, this ethical analysis offers guidance for dentists facing the ethical dilemma of patient requests for jaw wiring as a weight management intervention. The ethical analysis concludes that dentists who refuse autonomous requests to perform jaw wiring for purely weight loss purposes are ethically justified within the principlist framework in overriding these requests when the principles of non-maleficence and beneficence are at stake. The well-being and health of the patient, as well as societal and professional obligations, justify the refusal to perform jaw wiring purely for weight loss.

Keywords: ethics, jaw wiring, maxillomandibular fixation, principlism, weight loss

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Authors: Suman Podder

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As Australian ‘Open Banking’ allows customers to share their financial data with accredited Third-Party Providers (‘TPPs’), it is necessary to evaluate whether the regulators have achieved the balance between protecting customer data privacy and promoting data-related innovation. Recognising the need to increase customers’ influence on their own data, and the benefits of data-related innovation, the Australian Government introduced ‘Consumer Data Right’ (‘CDR’) to the banking sector through Open Banking regulation. Under Open Banking, TPPs can access customers’ banking data that allows the TPPs to tailor their products and services to meet customer needs at a more competitive price. This facilitated access and use of customer data will promote innovation by providing opportunities for new products and business models to emerge and grow. However, the success of Open Banking depends on the willingness of the customers to share their data, so the regulators have augmented the protection of data by introducing new privacy safeguards to instill confidence and trust in the system. The dilemma in policymaking is that, on the one hand, lenient data privacy laws will help the flow of information, but at the risk of individuals’ loss of privacy, on the other hand, stringent laws that adequately protect privacy may dissuade innovation. Using theoretical and doctrinal methods, this paper examines whether the privacy safeguards under Open Banking will add to the compliance burden of the participating financial institutions, resulting in the undesirable effect of stifling other policy objectives such as innovation. The contribution of this research is three-fold. In the emerging field of customer data sharing, this research is one of the few academic studies on the objectives and impact of Open Banking in the Australian context. Additionally, Open Banking is still in the early stages of implementation, so this research traces the evolution of Open Banking through policy debates regarding the desirability of customer data-sharing. Finally, the research focuses not only on the customers’ data privacy and juxtaposes it with another important objective of promoting innovation, but it also highlights the critical issues facing the data-sharing regime. This paper argues that while it is challenging to develop a regulatory framework for protecting data privacy without impeding innovation and jeopardising yet unknown opportunities, data privacy and innovation promote different aspects of customer welfare. This paper concludes that if a regulation is appropriately designed and implemented, the benefits of data-sharing will outweigh the cost of compliance with the CDR.

Keywords: consumer data right, innovation, open banking, privacy safeguards

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Authors: Aristeidis Samitas, Stathis Polyzos

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As the UK and the EU prepare to start negotiations for Brexit, it is important for both sides to comprehend the full extent of the consequences of this process. In this paper, we employ an object oriented simulation framework in order to test for the short-term and long-term effects of Brexit on both sides of the Channel. The relative strength of the UK economy and the banking sector vis-à-vis the EU is taken under consideration. Our results confirm predictions in the relevant literature regarding the output cost of Brexit, with particular emphasis on the EU. Furthermore, we show that financial stability is also an important issue on both sides, with the banking system suffering significant losses, particularly over the longer term. Our findings suggest that policymakers should be extremely careful in handling Brexit negotiations, making sure to consider dynamic effects that may be caused by UK bank assets moving to the EU after Brexit. The model results show that, as the UK banking system loses its assets, the end state of the UK economy is deteriorated while the end state of EU economy is improved.

Keywords: Banking Crises, Brexit, Financial Stability, VBanking

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Authors: Abhay Vir Singh Kanwar

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The pharmaceutical industry today is a multi-billion dollar business and yet disadvantages people in many corners of the globe who are still dying in large numbers from curable illnesses for lack of access to drugs. The astronomical prices of essential and life-saving drugs is not just an economic problem that can be settled through clever market strategies but is an ethical issue, given the accumulated wealth of today’s humanity and the sense of global justice that it increasingly comes to share. In this paper, I make a very practical argument for what I shall call ‘the ethical healthcare paradigm’, which, I propose, can replace the economistic paradigm that can still drive the healthcare sector without creating spillover effects on the market. Taking off from the ethical-philosophical argument for recognizing every individual’s right to capability to be healthy, I shall come to the focused practical proposal of the cost-rationalization and universal availability of essential, life-saving drugs through the undertaking of research and development funding for drug innovation by the business establishment as such in terms of the concept of CSR. The paper will first expose the concepts of basic and fundamental capabilities in relation to education and health, after which it will focus on the right to capability to be healthy of every person. In the third section, it will discuss the ‘ethical healthcare paradigm’ as opposed to the economistic health paradigm and will argue that the patient will have to be considered the primary stakeholder of this paradigm or the very ‘subject’ of healthcare. The next section will be on an ethical-historical critique of the pharmaceutical industry’s profit driven economism. The section after that will look at the business operation and the stages in the life cycle of a drug that comes to the market in order to understand the risks, strengths and problems of the pharmaceutical industry. Finally, the paper will discuss the concept of CSR in relation to the ethical healthcare paradigm in order to propose CSR funding in research and development for innovation on drugs so that life-saving drugs can be made available to every sick person cost-effectively.

Keywords: capability approach, healthcare, CSR, patient

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Authors: Chiung-Yao Huang, Yu-Cheng Lin, Chiung-Hui Chen

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This study seeks to examine perceived environmental corporate social responsibility (ECSR) with a focus on negative environmental questions, related to intention of ethical investment intention after a environmental failure recovery. An empirical test was employed to test the hypotheses. We manipulated the information on negative ECSR activities of a hypothetical firm in a experimental design with a failure recovery treatment. The company’s negative ECSR recovery was depicted in a positive perspective (depicting a follow-up strong social action), whereas in the negative ECSR treatment it was described in a negative perspective (depicting a follow-up non social action). In both treatments, information about other key characteristics of the focal company were kept constant. Investors’ intentions to invest in the company’s stock were evaluated by multi-item scales. Results indicate that positive ECSR recovery information about a firm enhances investors’ intentions to invest in the company’s stock. In addition, perceived moral intensity has a significant impact on the intention of ethical investment and that perceived moral intensity also serves as a key moderating variable in the relationship between negative ECSR and the intention of ethical investment. Finally, theoretical and managerial implications of the findings are discussed. Practical implications: The results suggest that managers may need to be aware of perceived moral intensity as a key variable in restoring the intention of ethical investment. The results further suggest that perceived moral intensity has a direct, and it also has an moderating influence between ECSR and the intention of ethical investment. Originality/value: In an attempt to deepen the understanding of how investors perceptions of firm environmental CSR are connected with other investor‐related outcomes through ECSR recovery, the present research proposes a comprehensive model which encompasses ECSR and other key relationship constructs after a ECSR failure and recovery.

Keywords: ethical investment, Environmental Corporate Social Responsibility(ECSR), ECSR recovery, moral intensity

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Authors: Sandeep Reddy, Sonia Allan, Simon Coghlan, Paul Cooper

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Artificial Intelligence (AI) and its application in medicine has generated ample interest amongst policymakers and clinicians. Successes with AI in medical imaging interpretation and clinical decision support are paving the way for its incorporation into routine healthcare delivery. While there has been a focus on the development of ethical principles to guide its application in healthcare, challenges of this application go beyond what ethics principles can address thus requiring robust governance frameworks. Also, while ethical challenges of medical artificial intelligence are being discussed, the ethics of deploying AI in lower-income countries receive less attention than in other developed economies. This creates an imperative not only for sound ethical guidelines but also for robust governance frameworks to regulate AI in medicine around the world. In this article, we discuss what components need to be considered in developing these governance frameworks and who should lead this worldwide effort.

Keywords: artificial intelligence, global health, governance, ethics

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Authors: Sunday Odunaiya

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The statistics of banks in operation in this current dispensation compared to some decades ago has brought about a lot of changes on the face of the financial system. The demand of customers, technological advancement, and government policies among others has therefore generated a lot of heat for financial sector’s growth, sustenance and survival. This paper discusses mergers and acquisitions (M&A) in banking sector using West Africa as a yardstick of evaluation. It explains rigorously the conditions that warrant mergers and acquisitions in the banking sector, its effect, and how to ensure mergers and acquisitions effectiveness in the banking sector. The conceptual and empirical review of the relevant literature were done systematically while value-increasing and value-decreasing theories were used to substantiate the discourse. Findings of this paper show that mergers and acquisitions is a practical and conscious activity in Nigeria, Ghana and Ivory Coast from earliest time till date with tremendous turnaround in the financial sector. It was found out that M&A is consensually arrived at by the targets and the acquirer on a value-based account. In other words, merger and acquisition is a deliberate decision reached by the management of such bank for a ‘just cause’.

Keywords: acquisitions, merger, management, financial sector

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Authors: H. Emari, Z. Emari

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The main objective of this research was to determine the dimensions of service quality in the banking industry of Iran. For this purpose, the study empirically examined the European perspective suggesting that service quality consists of three dimensions, technical, functional and image. This research is an applied research and its strategy is casual strategy. A standard questionnaire was used for collecting the data. 287 customers of Melli Bank of Northwest were selected through cluster sampling and were studied. The results from a banking service sample revealed that the overall service quality is influenced more by a consumer’s perception of technical quality than functional quality. Accordingly, the Gronroos model is a more appropriate representation of service quality than the American perspective with its limited concentration on the dimension of functional quality in the banking industry of Iran. So, knowing the key dimensions of the quality of services in this industry and planning for their improvement can increase the satisfaction of customers and productivity of this industry.

Keywords: technical quality, functional quality, banking, image, mediating role

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Authors: Aspalella A. Rahman

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It is widely accepted that the investigation of money laundering and the tracing and confiscation of criminal proceeds have intruded into the principles of banking secrecy. The inroads into banking secrecy present serious threats to democracy, and more importantly, to the traditional banker-customer relationship. It is generally accepted that the fight against money laundering is in conflict with the secrecy rule. Banking secrecy is a customer privilege whereas combating crime is critical for public safety and security. Indeed, achieving a proper balance is a desirable goal. But how we go about achieving such a balance is a question encountered by many law enforcement authorities. Therefore, this paper examines the effect of disclosure under the Malaysian anti-money laundering laws on the traditional duty of banks to keep the customer’s information confidential. It also analyzes whether the Malaysian laws provide a right balance between a duty to keep customer’s information secret and a duty to disclose such information in the fight against money laundering. On closer inspection, it is submitted that the Malaysian laws provide sufficient safeguards to ensure that the disclosure of customer’s information is carried out in a manner that is not prejudicial to the interest of legitimate customers. This is a positive approach that could protect the innocent customers from being mistreated by the law. Ultimately, it can be said that the growing threat of global money laundering and terrorism makes the overriding of banking secrecy justified because without a flow of information from the banks, the effective prevention of the menace is not possible.

Keywords: anti-money laundering law, banker-customer relationship, banking secrecy, confidentiality, money laundering

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Authors: Sharmin Shahid, Zaher Zain

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The purpose of this study is to explore and examines the theoretical frameworks of ethical leadership style and affective organizational commitment. Additionally, to investigate the extent to which employee orientation and ethical guidance either strengthen or weaken on the relationship between ethical leadership style and affective commitment. The study will also measure the mediating effects of leader’s integrity either influence to inspire and revival employee’s affective commitment or not. The methodology of the study comprised sample of 237 managers, departmental heads, top-level executives, and professors of several financial institutions, banks, and universities in Bangladesh who are directly related with decision making process of respective organization. A cross sectional research design will be used to examine the direct, moderating, and mediating analysis among the research key variables. Data were gathered based on personal administered questionnaire. The findings of the study will be significance because it will provide the real scenario of leadership style which leads to financial and strategic success of any organizations. In addition, the results will be interesting enough to find out either ethical leadership style have positive relationship with affective commitment or not. Employee-orientation and ethical guidance is a moderator to improve leadership style and affective commitment, whereas, leader’s integrity mediates the relationships between leadership style and affective organizational commitment to do the right thing in the right way for the betterment of entire organizational success. Research limitations of the study are the data collected by self administered questionnaire, a method with well-known shortcomings. Second, the study concentrated on financial institutions, banks top executives, and universities professors in Bangladesh. An important implication of the research is that the interesting findings will give some insight to the leadership style and helps management to focus on their management and leadership efficacy, as that could improve their affective organizational commitment. The findings will be original and unique value adding with the existing literature on leadership studies. The study is based on a comprehensive literature review. The results will be based on a sample of financial institutions, banks, and universities in Bangladesh. The research findings are useful to academics and corporate leaders of financial institutions, banks, and universities all over the world.

Keywords: affective organizational commitment, Bangladesh, ethical guidance, ethical leadership style

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Authors: Sylvie Michel, Emmanuelle Gagnou, Joanne Hamet

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Researchers in the fields of AI and Robotics frequently encounter ethical dilemmas throughout their research endeavors. Various ethical challenges have been pinpointed in the existing literature, including biases and discriminatory outcomes, diffusion of responsibility, and a deficit in transparency within AI operations. This research aims to pinpoint these ethical quandaries faced by researchers and shed light on the mechanisms behind ethical decision-making in the research process. By synthesizing insights from existing literature and acknowledging prevalent shortcomings, such as overlooking the heterogeneous nature of decision-making, non-accumulative results, and a lack of consensus on numerous factors due to limited empirical research, the objective is to conceptualize and validate a model. This model will incorporate influences from individual perspectives and situational contexts, considering potential moderating factors in the ethical decision-making process. Qualitative analyses were conducted based on direct observation of an AI/Robotics research team focusing on collaborative robotics for several months. Subsequently, semi-structured interviews with 16 team members were conducted. The entire process took place during the first semester of 2023. Observations were analyzed using an analysis grid, and the interviews underwent thematic analysis using Nvivo software. An initial finding involves identifying the ethical challenges that AI/robotics researchers confront, underlining a disparity between practical applications and theoretical considerations regarding ethical dilemmas in the realm of AI. Notably, researchers in AI prioritize the publication and recognition of their work, sparking the genesis of these ethical inquiries. Furthermore, this article illustrated that researchers tend to embrace a consequentialist ethical framework concerning safety (for humans engaging with robots/AI), worker autonomy in relation to robots, and the societal implications of labor (can robots displace jobs?). A second significant contribution entails proposing a model for ethical decision-making within the AI/Robotics research sphere. The model proposed adopts a process-oriented approach, delineating various research stages (topic proposal, hypothesis formulation, experimentation, conclusion, and valorization). Across these stages and the ethical queries, they entail, a comprehensive four-point comprehension of ethical decision-making is presented: recognition of the moral quandary; moral judgment, signifying the decision-maker's aptitude to discern the morally righteous course of action; moral intention, reflecting the ability to prioritize moral values above others; and moral behavior, denoting the application of moral intention to the situation. Variables such as political inclinations ((anti)-capitalism, environmentalism, veganism) seem to wield significant influence. Moreover, age emerges as a noteworthy moderating factor. AI and robotics researchers are continually confronted with ethical dilemmas during their research endeavors, necessitating thoughtful decision-making. The contribution involves introducing a contextually tailored model, derived from meticulous observations and insightful interviews, enabling the identification of factors that shape ethical decision-making at different stages of the research process.

Keywords: ethical decision making, artificial intelligence, robotics, research

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Authors: Thumesha Jayatilake

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As platform work continues to proliferate, algorithmic management, which takes care of its operational role, poses complex challenges, including job satisfaction, worker involvement, ethical decision-making, and worker well-being. This conceptual paper scrutinizes how algorithmic management influences virtue development among platform workers, with an emphasis on the effects of role conflict and role ambiguity. Using an interdisciplinary approach, the research elucidates the complex relationship between algorithmic management systems and the ethical dimensions of work. The study also incorporates the interplay of human interaction and short-term task orientation, thus broadening the understanding of the impacts of algorithmic management on virtue development. The findings have significant implications for policymakers, academics, and industry practitioners, illuminating the ethical complexities presented by the use of algorithms in modern employment settings.

Keywords: algorithmic management, ethics, platform work, virtue

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Authors: Mateusz Mokrogulski, Piotr Śliwka

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The aim of this paper is the identification of periods of excessive credit growth in the Polish banking sector in years 2007-2014 using different methodologies. Due to the lack of precise guidance in CRD IV regarding methods of calculating the credit gap and related deviations from the long-term trends, a few filtering methods are applied, e.g. Hodrick-Prescott and Baxter-King. The solutions based on the switching model are also proposed. The next step represent computations of both the credit gap, and the counter cyclical capital buffer (CCB) rates on a quarterly basis. The calculations are carried out for the entire banking sector in Poland, as well as for its components (commercial and co-operative banks), and different types of loans. The calculations show vividly that in the analysed period there were the times of excessive credit growth. However, the results are different for the above mentioned sub-sectors. Of paramount importance here are mortgage loans, where the outcomes are distorted by high exchange rate fluctuations. The research on the CCB is now going to gain popularity as the buffer will soon become one of the tools of the macro prudential policy under CRD IV. Although the presented method is focused on the Polish banking sector, it can also be applied to other member states. Especially to the Central and Eastern European countries, that are usually characterized by smaller banking sectors compared to EU-15.

Keywords: countercyclical capital buffer, CRD IV, filtering methods, mortgage loans

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Authors: Patience Oluchi Silas, Yemi Adeshina

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Financial transactions involving the use of the internet has become an important practice among commercial banks in Nigeria with the introduction of internet banking and this has improved banking efficiency in rending services to customers. However, customers in Lagos State are enslaved in the fear of insecurity, technical failure, inadequate operational facilities, including improper telecommunications and poor power supply. It is in line with this that this paper explores the obstacles faced by Lagosians, tourists, small scale business owners, companies, customers and the government's attitude in addressing the challenges associated with online banking system in Nigeria through relevant legislations. Internet banking has the potential to transform economic activity and achieve developmental goals. If the associated Challenges are addressed quickly, then it will have the desired impact on the Nigerian economy. In this study, Respondents, mostly bank employees and customers were issued well designed and structured questionnaires to effectively examine the new developments brought about by the introduction of Internet banking and the challenges inhibiting its adoption. Hypotheses were formulated to test assumptions and claims generated from the study. The results were statistically analyzed to address the issues of errors and chances, and at the end, the result of the statistical analysis shows that all especially insecurity, inadequate operational facilities and poor power supply are the significant factors affecting the adoption of internet banking services in Nigeria. The study recommends that for internet banking to assume a developmental dimension in Nigeria and for the country to be fully integrated and respected in global financial environment, the prevalent level of frauds in Lagos State and among Nigerians must first be addressed and the relevant local laws should be put in place and in consonance with international laws and conventions; get the citizens well educated on the intricacies of Internet usage and frauds.

Keywords: internet-banking, adoption, challenges, insecurity, legislation, fraud, Lagos state, statistics

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Authors: Farid Fahami

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This article explores the transformative role of technology in the finance, banking, and insurance sectors. It examines key technological trends such as AI, blockchain, data analytics, and digital platforms and their impact on operations, customer experiences, and business models. The article highlights the benefits of technology adoption, including improved efficiency, cost reduction, enhanced customer experiences, and expanded financial inclusion. It also addresses challenges like cybersecurity, data privacy, and the need for upskilling. Real-world case studies demonstrate successful technology integration, and recommendations for stakeholders emphasize embracing innovation and collaboration. The article concludes by emphasizing the importance of technology in shaping the future of these sectors.

Keywords: banking, finance, insurance, technology

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Authors: Naor Cohen

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In recent years, business schools made teaching ethical leadership a higher priority. Greater attention to moral and ethical concepts and reasoning processes may prove beneficial to future business leaders. But with a shift in focus, there is a need for a shift in pedagogy. This paper explores an imaginative literature-based pedagogy in the teaching of ethical leadership. An imaginative literature-based pedagogy uses works of fiction to help students build moral analysis and moral judgment capabilities through a rigorous assessment of the moral soundness of actions, motivations, rationales, and consequences portrayed in works of fiction. Business students enrolled in 4 leadership senior-level courses were assigned the White Tiger: A Novel by Aravind Adiga as their main course reading. Students' engagement was measured as a three-factor construct exploring cognitive engagement, behavioural engagement and emotional engagement. In addition, students' final papers were analyzed using thematic content analysis. This paper will present the results of this analysis and argue that incorporating fiction into the leadership curriculum allows students to explore the dire consequences of avoiding countervailing interests, engaging in dishonesty and engaging in moral puffery-based leadership.

Keywords: ethical leadership, empathetic imagination, business education, pedagogy, fiction

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Authors: Pallavi Malhotra

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This paper examines the importance of ethics in cloud computing. In the modern society, cloud computing is offering individuals and businesses an unlimited space for storing and processing data or information. Most of the data and information stored in the cloud by various users such as banks, doctors, architects, engineers, lawyers, consulting firms, and financial institutions among others require a high level of confidentiality and safeguard. Cloud computing offers centralized storage and processing of data, and this has immensely contributed to the growth of businesses and improved sharing of information over the internet. However, the accessibility and management of data and servers by a third party raise concerns regarding the privacy of clients’ information and the possible manipulations of the data by third parties. This document suggests the approaches various stakeholders should take to address various ethical issues involving cloud-computing services. Ethical education and training is key to all stakeholders involved in the handling of data and information stored or being processed in the cloud.

Keywords: IT ethics, cloud computing technology, cloud privacy and security, ethical education

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