Search results for: Central bank

Authors: I. Lucas, N. Schomberg, F-A. Couturier

Abstract:

Most empirical studies have analyzed how liquidity risks faced by individual institutions turn into systemic risk. Recent banking crisis has highlighted the importance of grasping and controlling the systemic risk, and the acceptance by Central Banks to ease their monetary policies for saving default or illiquid banks. This last point shows that banks would pay less attention to liquidity risk which, in turn, can become a new important channel of loss. The financial regulation focuses on the most important and “systemic” banks in the global network. However, to quantify the expected loss associated with liquidity risk, it is worth to analyze sensitivity to this channel for the various elements of the global bank network. A small bank is not considered as potentially systemic; however the interaction of small banks all together can become a systemic element. This paper analyzes the impact of medium and small banks interaction on a set of banks which is considered as the core of the network. The proposed method uses the structure of agent-based model in a two-class environment. In first class, the data from actual balance sheets of 22 large and systemic banks (such as BNP Paribas or Barclays) are collected. In second one, to model a network as closely as possible to actual interbank market, 578 fictitious banks smaller than the ones belonging to first class have been split into two groups of small and medium ones. All banks are active on the European interbank network and have deposit and market activity. A simulation of 12 three month periods representing a midterm time interval three years is projected. In each period, there is a set of behavioral descriptions: repayment of matured loans, liquidation of deposits, income from securities, collection of new deposits, new demands of credit, and securities sale. The last two actions are part of refunding process developed in this paper. To strengthen reliability of proposed model, random parameters dynamics are managed with stochastic equations as rates the variations of which are generated by Vasicek model. The Central Bank is considered as the lender of last resort which allows banks to borrow at REPO rate and some ejection conditions of banks from the system are introduced.

Liquidity crunch due to exogenous crisis is simulated in the first class and the loss impact on other bank classes is analyzed though aggregate values representing the aggregate of loans and/or the aggregate of borrowing between classes. It is mainly shown that the three groups of European interbank network do not have the same response, and that intermediate banks are the most sensitive to liquidity risk.

Keywords: Systemic Risk, Financial Contagion, Liquidity Risk, Interbank Market, Network Model.

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Authors: L. Delovarova, A. Davar, S. Asanov, F. Kukeyeva

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This article is dedicated to the question of regionalism and regionalization in contemporary international relations, with a specific focus on Central Asia. The article addresses the question of whether or not Central Asia can be referred to as a true geopolitical region. In addressing this question, the authors examine particular factors that are essential for the formation of a region, including those tied to the economy, energy, culture, and labor migration.

Keywords: Central Asia, integration, regionalization, regionalism.

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Authors: Ju-Hong Lee, Chong-Jia Ciou

Abstract:

This paper deals with the problem of two-dimensional (2-D) recursive two-channel quincunx quadrature mirror filter (QQMF) banks design. The analysis and synthesis filters of the 2-D recursive QQMF bank are composed of 2-D recursive digital allpass lattice filters (DALFs) with symmetric half-plane (SHP) support regions. Using the 2-D doubly complementary half-band (DC-HB) property possessed by the analysis and synthesis filters, we facilitate the design of the proposed QQMF bank. For finding the coefficients of the 2-D recursive SHP DALFs, we present a structure of 2-D recursive digital allpass filters by using 2-D SHP recursive digital all-pass lattice filters (DALFs). The novelty of using 2-D SHP recursive DALFs to construct a 2-D recursive QQMF bank is that the resulting 2-D recursive QQMF bank provides better performance than the existing 2-D recursive QQMF banks. Simulation results are also presented for illustration and comparison.

Keywords: All-pass digital filter, doubly complementary, lattice structure, symmetric half-plane digital filter, quincunx QMF bank.

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Authors: Taner Ersoz, Filiz Ersoz, Seyma Ozbilge

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In this study, the clients who applied to a bank branch for loan were analyzed through data mining. The study was composed of the information such as amounts of loans received by personal and SME clients working with the bank branch, installment numbers, number of delays in loan installments, payments available in other banks and number of banks to which they are in debt between 2010 and 2013. The client risk profile was examined through Classification and Regression Tree (CART) analysis, one of the decision tree classification methods. At the end of the study, 5 different types of customers have been determined on the decision tree. The classification of these types of customers has been created with the rating of those posing a risk for the bank branch and the customers have been classified according to the risk ratings.

Keywords: Client classification, loan suitability, risk rating, CART analysis, decision tree.

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Authors: Neela. R. Rayavarapu, Neelam Rup Prakash

Abstract:

The paper discusses a computationally efficient method for the design of prototype filters required for the implementation of an M-band cosine modulated filter bank. The prototype filter is formulated as an optimum interpolated FIR filter. The optimum interpolation factor requiring minimum number of multipliers is used. The model filter as well as the image suppressor will be designed using the Kaiser window. The method will seek to optimize a single parameter namely cutoff frequency to minimize the distortion in the overlapping passband.

Keywords: Cosine modulated filter bank, interpolated FIR filter, optimum interpolation factor, prototype filter.

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Authors: Petr Teply, Ondrej Vejdovec

Abstract:

There are three main ways of categorizing capital in banking operations: accounting, regulatory and economic capital. However, the 2008-2009 global crisis has shown that none of these categories adequately reflects the real risks of bank operations, especially in light of the failures Bear Stearns, Lehman Brothers or Northern Rock. This paper deals with the economic capital allocation of global banks. In theory, economic capital should reflect the real risks of a bank and should be publicly available. Yet, as discovered during the global financial crisis, even when economic capital information was publicly disclosed, the underlying assumptions rendered the information useless. Specifically, some global banks that reported relatively high levels of economic capital before the crisis went bankrupt or had to be bailed-out by their government. And, only 15 out of 50 global banks reported their economic capital during the 2007-2010 period. In this paper, we analyze the changes in reported bank economic capital disclosure during this period. We conclude that relative shares of credit and business risks increased in 2010 compared to 2007, while both operational and market risks decreased their shares on the total economic capital of top-rated global banks. Generally speaking, higher levels of disclosure and transparency of bank operations are required to obtain more confidence from stakeholders. Moreover, additional risks such as liquidity risks should be included in these disclosures.

Keywords: global crisis, economic capital, risk management, risk allocation, bank

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Authors: M. Pisol B Mat Isa, Asmak Ab Rahman, Hezlina Bt M Hashim, Abd Mutalib B Embong

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Al-Murabahah is an Islamic financing facility used in asset financing, the profit rate of the contract is determined by components which are also being used in the conventional banking. Such are cost of fund, overhead cost, risk premium cost and bank-s profit margin. At the same time, the profit rate determined by Islamic banking system also refers to Inter-Bank Offered Rate (LIBOR) in London as a benchmark. This practice has risen arguments among Muslim scholars in term of its validity of the contract; whether the contract maintains the Shariah compliance or not. This paper aims to explore the view of Shariah towards the above components practiced by Islamic Banking in determining the profit rate of al-murabahah asset financing in Malaysia. This is a comparative research which applied the views of Muslim scholars from all major mazahibs in Islamic jurisprudence and examined the practices by Islamic banks in Malaysia for the above components. The study found that the shariah accepts all the components with conditions. The cost of fund is accepted as a portion of al-mudarabah-s profit, the overhead cost is accepted as a cost of product, risk premium cost consist of business risk and mitigation risk are accepted through the concept of alta-awun and bank-s profit margin is accepted as a right of bank after venturing in risky investment.

Keywords: Islamic banking, Islamic finance, al-murabahah and asset financing

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Authors: Nader Gharibnavaz, Hossein Yazdi

Abstract:

If organizations like Mellat Bank want to identify its customer market completely to reach its specified goals, it can segment the market to offer the product package to the right segment. Our objective is to offer a segmentation model for Iran banking market in Mellat bank view. The methodology of this project is combined by “segmentation on the basis of four part-quality variables" and “segmentation on the basis of different in means". Required data are gathered from E-Systems and researcher personal observation. Finally, the research offers the organization that at first step form a four dimensional matrix with 756 segments using four variables named value-based, behavioral, activity style, and activity level, and at the second step calculate the means of profit for every cell of matrix in two distinguished work level (levels α1:normal condition and α2: high pressure condition) and compare the segments by checking two conditions that are 1- homogeneity every segment with its sub segment and 2- heterogeneity with other segments, and so it can do the necessary segmentation process. After all, the last offer (more explained by an operational example and feedback algorithm) is to test and update the model because of dynamic environment, technology, and banking system.

Keywords: market segmentation model, banking system, Mellat bank

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Authors: Zeinab Sayed Abdel-Rehim

Abstract:

A computational fluid dynamic (CFD-Fluent 6.2) for two-dimensional fluid flow is applied to predict the pressure drop and heat transfer characteristics of laminar and turbulent flow past staggered flat-tube bank. Effect of aspect ratio ((H/D)/(L/D)) on pressure drop, temperature, and velocity contour for laminar and turbulent flow over staggered flat-tube bank is studied. The theoretical results of the present models are compared with previously published experimental data of different authors. Satisfactory agreement is demonstrated. Also, the comparison between the present study and others analytical methods for the Re number with Nu number is done. The results show as the Reynolds number increases the maximum velocity in the passage between the upper and lower tubes increases. The comparisons show a fair agreement especially in the turbulent flow region. The good agreement of the data of this work with these recommended analytical methods validates the current study.

Keywords: Aspect ratio ((H/D)/(L/D)), CFD, fluid flow, heat transfer, staggered arrangement, tube bank, and turbulent flow.

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Authors: G. Koukiou, V. Anastassopoulos

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In this paper a bank of velocity filters is devised to be used for isolating a moving object with specific velocity in a sequence of frames. The approach used is a 3-D FFT based experimental procedure without applying any theoretical concept from velocity filters. Accordingly, velocity filters are built using the spectral signature of each separate moving object. Experimentation reveals the capabilities of the constructed filter bank to separate moving objects as far as the amplitude as well as the direction of the velocity are concerned.

Keywords: Velocity filters, filter banks, 3-D FFT.

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Authors: G. Das, S. Das, P. Purkait, A. Dasgupta, M. Kumar

Abstract:

Properly sized capacitor banks are connected across induction motors for several reasons including power factor correction, reducing distortions, increasing capacity, etc. Total harmonic distortion (THD) and power factor (PF) are used in such cases to quantify the improvements obtained through connection of the external capacitor banks. On the other hand, one of the methods for assessing the motor internal condition is by the use of Park-s pattern analysis. In spite of taking adequate precautionary measures, the capacitor banks may sometimes malfunction. Such a minor fault in the capacitor bank is often not apparently discernible. This may however, give rise to substantial degradation of power factor correction performance and may also damage the supply profile. The case is more severe with the fact that the Park-s pattern gets distorted due to such external capacitor faults, and can give anomalous results about motor internal fault analyses. The aim of this paper is to present simulation and hardware laboratory test results to have an understanding of the anomalies in harmonic distortion and Park-s pattern analyses in induction motors due to capacitor bank defects.

Keywords: Capacitor bank, harmonic distortion, induction motor, Park's pattern, PSCAD simulation.

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Authors: James A. Nelson

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The history of technology and banking is examined as it relates to risk and technological determinism. It is proposed that the services that banks offer are determined by technology and that banks must adopt new technologies to be competitive. The adoption of technologies paradoxically forces the adoption of other new technologies to protect the bank from the increased risk of technology. This cycle will lead to bank examiners and regulators to focus on human behavior, not on the ever changing technology.

Keywords: Banking, information security, risk, technologicaldeterminism.

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Authors: Stefanos V. Fotopoulos, Harry V. Papapanagos, Fotios M. Siokis

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This paper tries to shed light on the existence of a bank lending channel (BLC) in South Eastern European countries (SEE). Based on a VAR framework we test the responsiveness of credit supply to monetary policy shocks. By compiling a new data set and using the reserve requirement ratio, among others, as the policy instrument we measure the effectiveness of the BLC and the buffering effect of the banks in the SEE countries. The results indicate that loan supply is significantly affected by shifts in monetary policy, when demand factors are controlled. Furthermore, by analyzing the effect of the Greek banks in the region we conclude that Greek banks do buffer the negative effects of monetary policy transmission. By having a significant market share of the SEE-s banking markets we argue that Greek banks influence positively the economic growth of SEE countries.

Keywords: Bank Lending Channel, Monetary Policy Transmission, Policy Buffering, South Eastern Europe

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Authors: Roshan Jelal, Charles Mbohwa

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In today’s world, internal fraud remains one of the most challenging problems within companies worldwide and despite investment in controls and attention given to the problem, the instances of internal fraud has not abated. To the contrary it appears that internal fraud is on the rise especially in the wake of the economic downturn.

Leadership within companies believes that the more sophisticated the controls employed the less likely it would be for employees to pilfer. This is a very antiquated view as investment in controls may not be enough to curtail internal fraud; however, ensuring that a company drives the correct culture and behavior within the organization is likely to yield desired results.

This research aims to understand how creating a strong ethical culture and embedding the principle of good corporate governance impacts on levels of internal fraud with an organization (a South African Bank).

Keywords: Internal Fraud, Corporate Governance, Ethics, South African Reserve Bank, The King Code.

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Authors: Zhanar Aldubasheva, Mukhtar Senggirbay, Elnura Assyltayeva

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The modern world is experiencing fundamental and dynamic changes. The transformation of international relations; the end of confrontation and successive overcoming of the Cold War consequences have expanded possible international cooperation. The global nuclear conflict threat has been minimized, while a tendency to establish a unipolar world structure with the U.S. economic and power domination is growing. The current world system of international relations, apparently is secular. However, the religious beliefs of one or another nations play a certain (sometimes a key) role, both in the domestic affairs of the individual countries and in the development of bilateral ties. Political situation in Central Asia has been characterized by new factors such as international terrorism; religious extremism and radicalism; narcotrafficking and illicit arms trade of a global character immediately threaten to peace and political stability in Central Asia. The role and influence of Islamic fundamentalism is increasing; political ethnocentrism and the associated aggravation of inter-ethnic relations, the ambiguity of national interests and objectives of major geo-political groups in the Central Asian region regarding the division the political influence, emerge. This article approaches the following issues: the role of Islam in Central Asia; destabilizing factors in Central Asia; Islamic movements in Central Asia, Western Europe and the United States; the United States, Western Europe and Central Asia: religion, politics, ideology, and the US-Central Asia antiterrorism and religious extremism cooperation.

Keywords: USA, Central Asia, religious conflict, terrorism, regional security.

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Authors: Yilun Shang

Abstract:

Let {Xi}i≥1 be a martingale difference sequence with Xi = Si - Si-1. Under some regularity conditions, we show that (X2 1+· · ·+X2N n)-1/2SNn is asymptotically normal, where {Ni}i≥1 is a sequence of positive integer-valued random variables tending to infinity. In a similar manner, a backward (or reverse) martingale central limit theorem with random indices is provided.

Keywords: central limit theorem, martingale difference sequence, backward martingale.

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Authors: Chimin Tsai

Abstract:

This work consists of three parts. First, the alias-free condition for the conventional two-channel quadrature mirror filter bank is analyzed using complex arithmetic. Second, the approach developed in the first part is applied to the complex quadrature mirror filter bank. Accordingly, the structure is simplified and the theory is easier to follow. Finally, a new class of complex quadrature mirror filter banks is proposed. Interesting properties of this new structure are also discussed.

Keywords: Aliasing cancellation, complex signal processing, polyphase realization, quadrature mirror filter banks.

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Authors: Kashif Irfan, Fahad Shahbaz Khan, Tehseen Zia, M. A. Anwar

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Fast retrieval of data has been a need of user in any database application. This paper introduces a buffer based query optimization technique in which queries are assigned weights according to their number of execution in a query bank. These queries and their optimized executed plans are loaded into the buffer at the start of the database application. For every query the system searches for a match in the buffer and executes the plan without creating new plans.

Keywords: Query Bank, Query Matcher, Weight Manager.

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Authors: Sansanee Sansiribhan, Orrawan Rewthong, Anusorn Rattanathanaophat, Sarun Saensiriphan

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The objective of this work was to study potential of rice straw for power plant in the Central region of Thailand. Provincial power plant capacity was studied. The results showed that provinces central region had potential for small power plants with a capacity of over 10 MW in 13 provinces, 1-10 MW in 6 provinces and less than 1 MW in 3 provinces.

Keywords: Rice straw, Power plant, Central region, Thailand.

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Authors: A. Robbin

Abstract:

In a multilingual setting like Nigeria, the success of service encounters is enhanced by the use of a language that ensures the linguistic and persuasive demands of the interlocutors. This study examined motivations for code switching as a negotiation strategy in bank-hall desk service encounters in Ìbàdàn metropolis using Myers-Scotton’s exploration on markedness in language use. The data consisted of transcribed audio recording of bank-hall service encounters, and direct observation of bank interactions in two purposively sampled commercial banks in Ìbàdàn metropolis. The data was subjected to descriptive linguistic analysis using Myers Scotton’s Markedness Model.  Findings reveal that code switching is frequently employed during different stages of service encounter: greeting, transaction and closing to fulfil relational, bargaining and referential functions. Bank staff and customers code switch to make unmarked, marked and explanatory choices. A strategy used to identify with customer’s cultural affiliation, close status gap, and appeal to begrudged customer; or as an explanatory choice with non-literate customers for ease of communication. Bankers select English to maintain customers’ perceptions of prestige which is retained or diverged from depending on their linguistic preference or ability.  Yoruba is seen as an efficient negotiation strategy with both bankers and their customers, making choices within conversation to achieve desired conversational and functional aims.

Keywords: Markedness, bilingualism, code switching, service encounter, banking.

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Authors: Popoola, C. F., Akinsanya, K., Babarinde, S. B., Farinde, D. A.

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This study investigated published financial statement as correlate of investment decision among commercial bank stakeholders in Nigeria. A correlation research design was used in the study. 180 users of published financial statement were purposively sampled from Lagos and Ibadan. Data generated were analyzed using Pearson correlation and regression. The findings of the study revealed that, balance sheet is negatively related with investment decision (r= -.483; p<.01) while income statement (r= .249; p<.001), notes on the account (r= .230; p<.001), cash flow statement (r= .202; p<.001), value added statement (r= .328; p<.001) and five-year financial summary (r= .191; p<.01) are positively related with investment decision. Findings also revealed that components of published financial statement significantly predicted good investment decision (R²= .983; F_(5,175)=284.5; p<.05) for commercial bank stakeholders. Therefore, it was suggested that Nigeria banks and professional bodies should instigate programs that will increase the knowledge of stakeholders on published financial statement.

Keywords: Commercial banks, Financial statement, Income Statement, Investment decision, Stakeholders.

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Authors: Mohamed Hafid, Marcel Lacroix

Abstract:

This study presents an inverse analysis for predicting the thermal conductivities and the heat flux of a high-temperature metallurgical reactor simultaneously. Once these thermal parameters are predicted, the time-varying thickness of the protective phase-change bank that covers the inside surface of the brick walls of a metallurgical reactor can be calculated. The enthalpy method is used to solve the melting/solidification process of the protective bank. The inverse model rests on the Levenberg-Marquardt Method (LMM) combined with the Broyden method (BM). A statistical analysis for the thermal parameter estimation is carried out. The effect of the position of the temperature sensors, total number of measurements and measurement noise on the accuracy of inverse predictions is investigated. Recommendations are made concerning the location of temperature sensors.

Keywords: Inverse heat transfer, phase change, metallurgical reactor, Levenberg–Marquardt method, Broyden method, bank thickness.

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Authors: S.Kaupenbayeva, A. Tashagil, A.Kanagatova, Zh. Suleimenova

Abstract:

this scientific article considers the peculiarities of ecology of culture and ecological outlook from cultural and anthropological aspect of Turkic languages speaking peoples in the Central Asia. The ecology of culture of Turkic languages speaking peoples in the Central Asia, formed under the influence of climatic, geographical, economic, religious, ethno cultural and political factors and defining the originality of traditions which have laid down in its basis and functioned, as its components, causes an interest and urgency simultaneously, representing the sample of life of the Person in the World by which it is necessary to be guided today.

Keywords: ecology of culture, civilization, the Eurasian civilization, Turkic languages speaking peoples, space-time characteristics, the Central Asia

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Authors: Nada Azhar

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The aim of the paper is to investigate the effect of corporate social responsibility (CSR) CSR on the National Commercial Bank (NCB) in Saudi Arabia. In order to achieve this, a case study was made of the CSR activities of this bank from the perspective of its branch managers. The NCB was chosen as it was one of the first Saudi banks to engage in CSR and currently has a wide range of CSR initiatives. A qualitative research method was used. Open-ended questionnaires were administered to eighty branch managers of the NCB, with fifty-five usable questionnaires returned and twenty managers were interviewed as part of the primary research. Data from both questionnaires and interviews were analysed using qualitative content analysis. Six themes emerged from the questionnaire findings were used to develop the interview questions. These themes are the following: Awareness of employees about CSR in the NCB; CSR activities as a type of investment; Government and media support; Increased employee loyalty in the NCB; Prestige and profit to the NCB; and View of CSR in Islam. This paper makes a theoretical contribution in that it investigates and increases understanding of the effect of CSR on the NCB in Saudi Arabia. In addition, it makes a practical contribution by making recommendations which can support the development of CSR in the NCB. A limitation of the paper is that it is a case study of only one bank. It is therefore recommended that future research could be conducted with other banks in Saudi Arabia, or indeed, with a range of other types of firm within the financial services area in Saudi Arabia. In this way, the same issues could be explored but with a greater potential generalisability of findings of CSR within the Saudi Arabian financial services industry. In addition, this paper takes a qualitative approach and it is suggested that future research be carried out using mixed methods, which could provide a greater depth of analysis.

Keywords: Branch managers, corporate social responsibility. national commercial bank, Saudi Arabia.

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Authors: Petr Teply

Abstract:

The New Basel Capital Accord (Basel II) influences how financial institutions around the world, and especially European Union institutions, determine the amount of capital to reserve. However, as the recent global crisis has shown, the revision of Basel II is needed to reflect current trends, such as increased volatility and correlation, in the world financial markets. The overall objective of Basel II is to increase the safety and soundness of the international financial system. Basel II builds on three main pillars: Pillar I deals with the minimum capital requirements for credit, market and operational risk, Pillar II focuses on the supervisory review process and finally Pillar III promotes market discipline through enhanced disclosure requirements for banks. The aim of this paper is to provide the historical background, key features and impact of Basel II on financial markets. Moreover, we discuss new proposals for international bank regulation (sometimes referred to as Basel III) which include requirements for higher quality, constituency and transparency of banks' capital and risk management, regulation of OTC markets and introduction of new liquidity standards for internationally active banks.

Keywords: Basel II, Basel III, risk management, bank regulation

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Authors: Jalal Haghighat Monfared, Zahra Akbari

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Today, business executives need to have useful information to make better decisions. Banks have also been using information tools so that they can direct the decision-making process in order to achieve their desired goals by rapidly extracting information from sources with the help of business intelligence. The research seeks to investigate whether there is a relationship between the quality of decision making and the business intelligence capabilities of Mellat Bank. Each of the factors studied is divided into several components, and these and their relationships are measured by a questionnaire. The statistical population of this study consists of all managers and experts of Mellat Bank's General Departments (including 190 people) who use commercial intelligence reports. The sample size of this study was 123 randomly determined by statistical method. In this research, relevant statistical inference has been used for data analysis and hypothesis testing. In the first stage, using the Kolmogorov-Smirnov test, the normalization of the data was investigated and in the next stage, the construct validity of both variables and their resulting indexes were verified using confirmatory factor analysis. Finally, using the structural equation modeling and Pearson's correlation coefficient, the research hypotheses were tested. The results confirmed the existence of a positive relationship between decision quality and business intelligence capabilities in Mellat Bank. Among the various capabilities, including data quality, correlation with other systems, user access, flexibility and risk management support, the flexibility of the business intelligence system was the most correlated with the dependent variable of the present research. This shows that it is necessary for Mellat Bank to pay more attention to choose the required business intelligence systems with high flexibility in terms of the ability to submit custom formatted reports. Subsequently, the quality of data on business intelligence systems showed the strongest relationship with quality of decision making. Therefore, improving the quality of data, including the source of data internally or externally, the type of data in quantitative or qualitative terms, the credibility of the data and perceptions of who uses the business intelligence system, improves the quality of decision making in Mellat Bank.

Keywords: Business intelligence, business intelligence capability, decision making, decision quality.

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Authors: Craig M. Allen

Abstract:

Twenty two African entrepreneurs with Small and Medium Enterprises (SMEs) in a single social network centered around a non-Muslim population in a smaller African country, selected an Islamic financing structure, a form of Murabaha, based solely on market rationale. These entrepreneurs had all won procurement contracts from major purchasers of goods within their country and faced difficulty arranging traditional bank financing to support their supply-chain needs. The Murabaha-based structure satisfied their market-driven demand and provided an attractive alternative to the traditional bank-offered lending products. The Murabaha-styled trade-financing structure was not promoted with any religious implications, but solely as a market solution to the existing problems associated with bank-related financing. This indicates the strong market forces that draw SMEs to financing structures that are traditionally considered within the framework of Islamic finance.

Keywords: Africa, entrepreneurs, Islamic finance, market acceptance, Murabaha, SMEs.

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Authors: Charawee Butbumrung

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The purpose of this research was to study customer relationship management on social media affecting brand loyalty of Siam Commercial Bank in Bangkok. The statistics used in data analysis were frequency, mean, standard deviation, and Pearson’s correlation coefficient based on social science statistic program. The result of the study found that the majority of the respondents were female, 37–47 years old of age, bachelor degree of education and monthly income between 10,001 and 15,000 Baht. In addition, customer relationship management in the overall and by each aspect of formulating, maintaining, and extending the customer relationship had a high score. Furthermore, the result of hypothesis testing showed that the difference of the customer’s age, education, occupation, average monthly income had the difference in brand loyalty with the statistical significance level of 0.05 and customer relationship management had related with brand loyalty in the same direction with the low level of statistical significance 0.05.

Keywords: Brand loyalty, customer relationship, management, Siam Commercial Bank, social media.

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Authors: Ram Kumar Soni, Alok Jain, Rajiv Saxena

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This paper proposes an efficient method for the design of two channel quadrature mirror filter (QMF) bank. To achieve minimum value of reconstruction error near to perfect reconstruction, a linear optimization process has been proposed. Prototype low pass filter has been designed using Kaiser window function. The modified algorithm has been developed to optimize the reconstruction error using linear objective function through iteration method. The result obtained, show that the performance of the proposed algorithm is better than that of the already exists methods.

Keywords: Filterbank, near perfect reconstruction, Kaiserwindow, QMF.

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Authors: Karolína Vozková, Matěj Kuc

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Net fee and commission income is one of the key elements of a bank’s core income. In the current low-interest rate environment, this type of income is gaining importance relative to net interest income. This paper analyses the effects of bank and country specific determinants of net fee and commission income on a set of cooperative banks from European countries in the 2007-2014 period. In order to do that, dynamic panel data methods (system Generalized Methods of Moments) were employed. Subsequently, alternative panel data methods were run as robustness checks of the analysis. Strong positive impact of bank concentration on the share of net fee and commission income was found, which proves that cooperative banks tend to display a higher share of fee income in less competitive markets. This is probably connected with the fact that they stick with their traditional deposit-taking and loan-providing model and fees on these services are driven down by the competitors. Moreover, compared to commercial banks, cooperatives do not expand heavily into non-traditional fee bearing services under competition and their overall fee income share is therefore decreasing with the increased competitiveness of the sector.

Keywords: Cooperative banking, dynamic panel data models, net fee, commission income, system GMM.

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