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Derlytsia, Andrii. "Institutional environment of public finance." INNOVATIVE ECONOMY, no. 7-8 (2020): 133–38. http://dx.doi.org/10.37332/2309-1533.2020.7-8.18.
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Purpose. The aim of the article is research of the institutional environment of public finance and its components in the light of achievements of foreign and domestic economic science. Methodology of research. The following general and special methods are used to achieve this goal: comparative analysis – in assessing alternative approaches to the interpretation of the concept of institution; method of scientific abstraction – in highlighting the essential features of financial institutions and their differences from fiscal institutions; systemic, structural analysis, grouping – in identifying the components of the institutional environment of public finance and structural features of the public sector. Findings. Alternative approaches of institutional theory to the interpretation of the concept of institution are considered. A compromise application the interpretation of institutions in the approaches of D. North and O. Williamson to the sphere of public finance has been made. The components of the institutional environment of public finance are distinguished: institutions (norms, rules), institutional units (organizations, structures), transactions (interaction, relations). The institutional structure of the public sector is considered. The principle of “presumption of inefficiency” as a key one in the institutional analysis of the sphere of public finance is outlined. Originality. The paper substantiates the components of the institutional environment of public finance by clearly outlining the semantic use of the terms “institution” and “institutions” in relation to this area. Practical value. The approaches to the interpretation of the concepts “financial institutions”, “institutional environment”, “public sector” proposed in the research, will contribute to the development of a unified approach in the domestic institutional theory. Key words: public finance, financial institutions, fiscal institutions, institutional environment, institutional units, public sector, transactions.
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Shaikh, Salman Ahmed, Abdul Ghafar Ismail, and Muhammad Hakimi Mohd Shafiai. "Application of waqf for social and development finance." ISRA International Journal of Islamic Finance 9, no. 1 (July 10, 2017): 5–14. http://dx.doi.org/10.1108/ijif-07-2017-002.
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Purpose This paper aims to discuss the application of waqf (endowment) in the social finance sector for funding social and development projects and services. Design/methodology/approach The study is qualitative. It reviews literature and provides descriptive data to present its main idea. Findings Most Muslim-majority countries are generally income-poor, and the governments are generally weak in their tax collection, effective governance and capacity for development spending. Private sector financial institutions are scarce and mostly cater to the people who can meet the income-based lending criteria. Thus, the institution of waqf can fill the gap as a social finance institution by providing intermediation services for effectively utilising perpetual social savings. Flexibility in the rules of waqf enables it to serve beneficiaries directly or through financial institutions and to provide a wide range of social services. Research limitations/implications This conceptual research highlights the need and potential of waqf without discussing the regulatory and operational details of how to effectively institutionalize it in different regions. Practical implications The institution of waqf can harness the potential of selfless charitable giving in an effective way for better economic impact in the targeted social segments of society. Originality value The paper suggests the establishment of waqf-based training and vocational centres which will increase opportunities of self-employment and contribute in upward social mobility of beneficiaries.
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Prasetya, Syarief Gerald. "Financing infrastructure construction applying Indonesia syariah finance institutions." Accounting Journal of Binaniaga 4, no. 2 (December 30, 2019): 35. http://dx.doi.org/10.33062/ajb.v4i2.340.
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Since Indonesia is one of the countries having most Moslems in the world, itshould have been able to use Syariah financing to finance the construction to increase people welfare. Aims of this research are to understand the development of Syariah Finance Institutions, development of infrastructure construction in Indonesia and to see the extent of which the contribution of Syariah Finance Institution has been upon the infrastructure construction in Indonesia. Result of the analysis has indicated that total of Syariah Finance Institutions in Indonesia has been increasing each year and its assets has tended to increase accordingly. Infrastructure construction has tendedto elevate in Indonesia, however, it is still beyond other ASEAN countries. Contribution of Syariah Finance Institutions has been getting bigger upon theinfrastructure construction development in Indonesia, but it is still beyond other conventional finance authorities.Keywords: infrastructure, Syariah Finance Institution
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Coşgel, Metin M. "EFFICIENCY AND CONTINUITY IN PUBLIC FINANCE: THE OTTOMAN SYSTEM OF TAXATION." International Journal of Middle East Studies 37, no. 4 (September 23, 2005): 567–86. http://dx.doi.org/10.1017/s0020743805052207.
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Economic historians have recently made great progress in studying the past by applying the tools and concepts of New Institutional Economics. A fundamental element of this achievement has been to go beyond the narrow confines of previous approaches. Whereas the application of narrow neoclassical economic analysis typically lacked an appreciation for the role of history and focused primarily on the efficiency properties of institutions, the new trend has been to integrate economic and historical approaches for richer and more comprehensive explanations of how and why history mattered. Similarly, whereas unsystematic historical approaches lacked sound theoretical bases and proceeded narrowly by focusing on how previous customs and traditions were responsible for the existence of an institution, the new approach has been also to examine the properties of the institution that ensured its survival.
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Herry, Ervicaninda, Pramudia Yuli Eka Permana, Wisnu Bayu Aji, and Ridan Muhtadi. "Total Quality Management Development and Sharia Governance Efforts in Sharia Micro Financial Institutions to Improve Market Share." IJIEEB : International Journal of Integrated Education, Engineering and Business 2, no. 1 (March 30, 2019): 27–35. http://dx.doi.org/10.29138/ijieeb.v2i1.809.
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An important pillar in the development of Islamic microfinance institutions is Total Quality Management and Sharia Governance. This pillar is the main differentiator between conventional Islamic finance institutions. Institutional efforts to provide satisfaction to customers. The concept of quality (quality) for service and non-service basically includes various things that are focused on the customer. Shari'ah supervision is needed to ensure the implementation of Shari'ah principles in the financial institution, which is played by the Shari'ah Supervisory Board. Implicitly this shows that the practice of shari'ah microfinance institutions has not been concerned with shari'ah principles and the quality of good governance, one of the causes of reputation and public trust in Islamic microfinance institutions will also have an impact on community loyalty use the services of a Shari'ah microfinance institution. Improved reputation and customer trust can be used as an indicator of the success of the development of Islamic microfinance institutions and at the same time predicting their future success in order to increase market share.
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Khan and Atiq-uz-Zafar. "Fatwa Institution and Product Development for Islamic Finance in Pakistan." Policy Perspectives 16, no. 2 (2019): 107. http://dx.doi.org/10.13169/polipers.16.2.0107.
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Hellman, Thomas. "Development finance as institution building: A new approach to poverty-oriented banking." Journal of Development Economics 50, no. 2 (August 1996): 392–95. http://dx.doi.org/10.1016/s0304-3878(96)00411-7.
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UCHE, CHIBUIKE U. "Credit for Africans; the demand for a ‘national bank’ in the Gold Coast colony." Financial History Review 10, no. 1 (April 2003): 75–90. http://dx.doi.org/10.1017/s0968565003000040.
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This article traces the origins of the ‘national bank’ in the Gold Coast. It shows how the Colonial authorities perverted the demand by Africans for a special kind of bank to aid their development. The Colonial Office preferred and ensured the establishment of an orthodox institution, which had little to give with regard to Africans' demand for developmental credit. This was because it believed that such development institutions would be unhelpful to, arguably, uncreditworthy Africans. This attitude, it is argued, represented a setback to the Gold Coast's development. Either such an institution, as demanded by Africans, would have helped the colony's advance, or Africans would have learnt earlier that the concept of development was more fundamental than setting up a ‘national bank’.
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Dorofeev, M. L., and M. K. Griban'. "Discrepancies in Islamic finance." Finance and Credit 26, no. 11 (November 27, 2020): 2633–54. http://dx.doi.org/10.24891/fc.26.11.2633.
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Subject. The article focuses on discrepancies in Islamic finance, the construct of Islamic finance, its profit-generation mechanism, economic effects, unique nature and competition with traditional financial institutions. Objectives. We analyze the Islamic economic model and perform the comparative analysis of Islamic and traditional financial instruments. We also investigate conflicting issues of Islamic finance. Methods. The study involves methods of comparison, deduction, economic analysis and graphic interpretation. Results. We analyze the Islamic economic model to point out some fundamental principles of the Islamic economy, and its strengths. The article overviews types of Islamic financial instruments, compares them with traditional finance. The practical part of the study compares annual financial statements of the Abu Dhabi Islamic Bank and Russia’s Sberbank. We unfold the profit-generating mechanism of Islamic financial institutions and discover discrepancies in Islamic finance. Conclusions and Relevance. Having compared Islamic and traditional finance, we revealed some similar and different aspects. We discovered discrepancies in Islamic finance that translate into the overall nature of the Islamic economy and the performance of the Islamic financial institution above. The findings can be used for further studies into Islamic finance and outlining Islamic banking development strategies at the governmental level. Furthermore, the findings may come in handy to professional and non-professional market actors for making investment decisions.
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DOROFEEV, Mikhail L., and Mikhail K. GRIBAN'. "Controversies of Islamic finance." Digest Finance 26, no. 1 (March 30, 2021): 67–82. http://dx.doi.org/10.24891/df.26.1.67.
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Subject. The article focuses on discrepancies in Islamic finance, the construct of Islamic finance, its profit-generation mechanism, economic effects, unique nature and competition with traditional financial institutions. Objectives. We analyze the Islamic economic model and perform the comparative analysis of Islamic and traditional financial instruments. We also investigate conflicting issues of Islamic finance. Methods. The study involves methods of comparison, deduction, economic analysis and graphic interpretation. Results. We analyze the Islamic economic model to point out some fundamental principles of the Islamic economy, and its strengths. The article overviews types of Islamic financial instruments, compares them with traditional finance. The practical part of the study compares annual financial statements of the Abu Dhabi Islamic Bank and Russia’s Sberbank. We unfold the profit-generating mechanism of Islamic financial institutions and discover discrepancies in Islamic finance. Conclusions and Relevance. Having compared Islamic and traditional finance, we revealed some similar and different aspects. We discovered discrepancies in Islamic finance that translate into the overall nature of the Islamic economy and the performance of the Islamic financial institution above. The findings can be used for further studies into Islamic finance and outlining Islamic banking development strategies at the governmental level. Furthermore, the findings may come in handy to professional and non-professional market actors for making investment decisions.
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Bhatti, Maria, and Ishaq Bhatti. "Development in legal Issues of Corporate Governance in Islamic Finance." Journal of Economic and Administrative Sciences 25, no. 1 (June 1, 2009): 67–91. http://dx.doi.org/10.1108/10264116200900004.
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This paper is an attempt to present legal issues of Islamic corporate governance (ICG) in the presence of global financial crises. It presents ICG model and discusses its viability in today’s corporate structure. The model is based on institution of Hisbah which demands book keeping, disclosure, transparency based on Shariah principles of Islamic Finance Ethics.
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KRYSOVATYY, Andriy. "NEW PRAGMATIC APPROACH TO FISCALIZATION OF PUBLIC FINANCE." WORLD OF FINANCE, no. 1(66) (2021): 10–23. http://dx.doi.org/10.35774/sf2021.01.010.
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Introduction. Turbulence in the field of public finance on both national and global scale testifies to the existence of unresolved problems in reconciling the scientific postulates behind transformation and development of the institution of state. Crisis of the early twentieth century and the pandemic of 2019-2020 have revealed the ineffectiveness of liberal models of statehood, thus heightening the urgency of reinforcing scientific efforts directed at studying and fixing the aforementioned issue. The purpose of the article is to systemize the scientific grounds of the latest theoretical dimensions of the public finance institute and to determine a new pragmatic approach to its fiscalization. Methods. The methods of dialectic analysis, synthesis and logical generalization, as well as comparison and formalization are used. Results. The essential parameters of the relationship between global crises and changes in the technological framework have been revealed. Financial policy is viewed as the art of managing finance with the purpose of creating conditions for sustainable socio-economic develop ment. The contradictions accumulated in the field of public finance and fiscal space have been analyzed and the evolution of the institution of state has been traced. It has been proven that in view of the new directions of societal development precipitated by the globalization crisis and the pandemic it is advisable to determine a new pragmatic approach to fiscalization of public finance, which would be defined by values, formal and informal institutions, and policy based on the main features of the coincidence theory.
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KIM, SUKKOO. "Institutions and US regional development: a study of Massachusetts and Virginia." Journal of Institutional Economics 5, no. 2 (August 2009): 181–205. http://dx.doi.org/10.1017/s1744137409001295.
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AbstractThe development of the American economy was accompanied by significant spatial income inequalities between the northern and southern regions. While many factors contributed to northern industrialization and southern stagnation, an important factor was differences in the region's institutions. In the North, a democratic institution fostered growth whereas in the South, oligarchic institutions favored status quo. To gain insights on the nature and causes of this divergence, this paper examines the development of political and legal institutions in Massachusetts and Virginia, the two leading states in the North and the South.
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Oralbaeva, Zhanar, Orazgul Dzhakisheva, Karlygash Kurbanova, and Assiya Naukanova. "Development opportunities of islamic finance in Kazakhstan: world experience and perspectives." E3S Web of Conferences 159 (2020): 06005. http://dx.doi.org/10.1051/e3sconf/202015906005.
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An increase in demand for alternative financial services contributes to the growing importance of Islamic finance for a part of the international financial market, which represents for Kazakhstan a viable and sustainable sphere of capital investment in times of crisis to diversify risks. The article reveals the features of functioning of Islamic banks, highlights the main tools of Islamic finance, highlights the development of Islamic finance in foreign countries, including Arab countries, European countries and the United States. The author analyzes the key stages of the development of Islamic finance in Kazakhstan and highlights the problems that impede its full implementation. The recommendations aimed at the development of Islamic instruments in the framework of the Kazakhstani economy are presented. In conclusion, it is concluded that the state is the main institution on whose actions the further functioning of Islamic finance in Kazakhstan depends.
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Zarkovic, Jelena. "Mechanisms for development of property rights institutions." Panoeconomicus 53, no. 3 (2006): 283–98. http://dx.doi.org/10.2298/pan0603283z.
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The institution of property rights is increasingly recognized as an essential building block of an economically prosperous society. The question that remains unsolved, however, is how do we develop effective property rights institutions? The literature dealing with the development of property rights tends to be, in general, an optimistic one since there is a tendency to view the design of property rights institutions as maximizing decisions to economize on transaction costs and to facilitate new economic activities. On the other hand, since property rights define the distribution of wealth and political power in a society, changes in property rights structures are likely to be influenced by more than pure efficiency considerations. Therefore, in order to achieve a balanced analysis of the evolution of property rights institutions, the model of endogenous property rights creation should be modified. We did that by introducing the neoinstitutional theory of the state in the model.
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Seibel, Hans Dieter, and Uben Parhusip. "Attaining Outreach with Sustainability: A Case Study of a Private Micro-Finance Institution in Indonesia." IDS Bulletin 29, no. 4 (October 1998): 81–90. http://dx.doi.org/10.1111/j.1759-5436.1998.mp29004009.x.
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Donkor-Hyiaman, Kenneth Appiah, and Kenneth Nii Okai Ghartey. "Legal origins and mortgage finance contradictions." International Journal of Housing Markets and Analysis 10, no. 1 (February 6, 2017): 156–79. http://dx.doi.org/10.1108/ijhma-03-2016-0019.
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Purpose This study aims to examine why Ghana has English legal origins (hypothesised as a legal framework that promotes financial development) but has not developed a well-functioning mortgage finance market. Design/methodology/approach The authors adopt the institutional autopsy approach developed by Milhaupt and Pistor (2008). This study is not a cross-country study but a historical examination of Ghana’s mortgage finance regulatory framework. The institutional autopsy framework considers the iterative process of change in a system and allows for context-specific system analysis. Findings The authors note that for a long period of about 68 years (1940-2008), some of the legal rules regulating mortgage finance were not typical of the hypothesised characteristics of the English common law tradition. These rules, including, interest rate controls, excessive entry barriers, loan default guarantee discriminations and complex foreclosure procedures, tended to inadequately protect creditors. In the context of the history of military rule and law-making, judicial discretion that could have promoted legal efficiency and strengthened contract enforcement was also limited. During this period, the legal system demonstrated a concentrated and coordinative character. New legislation in the form of the Home Mortgage Finance Act 2008 (Act 770) attempts to resolve some of these bottlenecks and improve creditor rights protection. Research limitations/implications The study focuses solely on how the legal institution affects creditor protection and mortgage finance in Ghana. Practical implications Policy-wise, the study deepens the understanding of the channels through which the law affects the development of mortgage finance. Originality/value To the best of the authors’ knowledge, the methodology used (institutional autopsy) is novel in the context of analysing mortgage finance.
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Saputri, Apik Anitasari Intan. "Implementation of Financing Compass for Welfare Partner Operational System Grameen Bank in Banyumas Regency." Ijtimā'iyya: Journal of Muslim Society Research 3, no. 1 (August 29, 2018): 21–36. http://dx.doi.org/10.24090/ijtimaiyya.v3i1.1674.
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Indonesia has a variety of microfinance service providers such as Commercial Banks, Rural Banks, Non-Bank Financial Institutions (LKBB), Micro Finance Institutions (MFIs), Savings and Loans Cooperatives (KSP) and other semiformal and informal institutions operating at the local community level. One Non-Bank Financial Institution operating in Indonesia is an institution with a group finance system - commonly referred to as Grameen bank. Its business objectives are to tackle poverty or other problems such as education, health, access to technology, and environmental issues that may threaten people and society. The research method used is field research with a sociological juridical approach. With the establishment of a poverty alleviation program involving many women, Grameen banks became one of the integrated institutions in public health programs by establishing sanitation and water programs as a health support product of its partners. This product is called KOMPAK and aims to develop financing products for the development of water quality and sanitation improvement among low-income people. Women Grameen bank actors are not only a target in the development of the business world, they also provide education on improving the quality of life and raise awareness of the importance of water hygiene and sanitation health. The company offers loans to economically active but low-income women especially those living in urban and rural areas.
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Morgan, Robert P. "Technology, finance and development: An analysis of the World Bank as a technological institution." Scientometrics 9, no. 5-6 (May 1986): 305–6. http://dx.doi.org/10.1007/bf02017251.
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Wasiullah Shaik Mohammed, Wasiullah Shaik Mohammed. "Interest-free Microfinance in India: A Case Study of the Al-Khair Cooperative Credit Society." journal of king Abdulaziz University Islamic Economics 31, no. 1 (January 3, 2018): 47–66. http://dx.doi.org/10.4197/islec.31-1.3.
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Interest-free microfinance institutions are providing efficient services around the globe including in India. The current paper is a case study research of Al-Khair – a well-known interest-free credit cooperative society in India. In this paper, the authors try to understand the modus operandi of the selected institution. The selected institution has also been evaluated in terms of various parameters such as its current status, outreach, beneficiaries, growth, and financial health. In conclusion, the authors highlight the potential challenges facing this institution and make a few recommendations for its further growth and development.
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Tripak, Marian. "PSYCHOLOGY OF FINANCE AND STRESS OF SOCIETY'S SUBJECTS IN THE WORLD'S PANDEMIA." Economic Analysis, no. 30(1, Part 1) (2020): 210–16. http://dx.doi.org/10.35774/econa2020.01.01.210.
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The article substantiates the theoretical and pragmatic postulates of the financial-economic, psychological and social-rehabilitation of inclusive doctrine of specialized institutions of Ukraine, which reflect inclusive activity in the socio-economic system of a state institution and its place and role in globalization processes. That is, it covers such a paradigm as an inclusive institution and its psychological conditions, mechanisms and patterns of financial and economic activity. It is determined that in modern conditions the most significant influence on the development of financial and economic psychology has the psychology of entrepreneurship, the psychology of management and management. The purpose of the research is to study the stresses that arise in the professional activity of subjects of inclusive state institutions in the conditions of a global pandemic. That is, the readiness of the subject of inclusive state institutions to provide complex assistance to different sections of the population and the need to maintain their own mental health due to the successful elimination of distress on the basis of relevant knowledge about the psychophysiology of stress, its causes and effects, individual and group methods of self-rehabilitation assistance, correction of post-traumatic stress disorders. Also, the article deals with the signs of governance, high school methods of overcoming, and externally mediated ways of adaptive self-regulation of stress by subjects of society, including subjects of inclusive institutions. This research identifies the priority of subjects of inclusive state institutions in the financial and economic parameters of overcoming relevant psychological stresses and crises in the conditions of global pandemic. It is determined that the modern psychology of finances and financial and economic activity of inclusive institutions is the object of the struggle of ideologies, scientific and educational doctrines, political beliefs, socio-economic imaginations about the social justice of the subject of the inclusive society.
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Zaki, Irham, Imron Mawardi, Tika Widiastuti, Achsania Hendratmi, and Debrina Farrah Anova. "BUSINESS NETWORK STRATEGY IN ISLAMIC MICRO FINANCE INSTITUTION OF ISLAMIC BOARDING SCHOOL." Humanities & Social Sciences Reviews 7, no. 4 (September 7, 2019): 276–79. http://dx.doi.org/10.18510/hssr.2019.7435.
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Purpose of the study: This study aims to explore the Sidogiri Islamic Boarding School (IBS) that have Islamic Micro Finance Institutions (IMFI) business portraits and strategies to develop the business model.
Methodology: The paper using qualitative method using study case. It observation, interview, and review previous study.
Main Findings: Pondok Pasentran (PP) Sidogiri has developed business network model that keeps part of social function. There are three business model that runs by PP Sidogiri; value chain, networking mode, operating model and value preposition . All the business model based on Islamic principles. There are three practical strategies includes the need for integration and awareness related to business models that involve all components of the business network owned by IBS Sidogiri.
Implications of the study: This conceptual study highlights practical development strategies for Sidogiri IBS IMFI based on the potential, through business network, management and performance measurement model of PP Sidogiri.
Novelty/Originality of this study: The paper suggests development strategies based on the network which involves all components of a large business network owned by PP Sidogiri, including santri, branch madrasa, UGT, alumni and sympathizers who form a unified whole as a business network.
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Zhao, Minyuan, Kathy Fogel, Randall Morck, and Bernard Yeung. "Trade Liberalization and Institutional Reform." Asian Economic Papers 9, no. 2 (June 2010): 44–71. http://dx.doi.org/10.1162/asep_a_00001.
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Opening up to global trade and investment is often thought to trigger institutional improvement by raising the expected benefits of institutional reform and reducing incumbents' incentives and ability to preserve the status quo. However, recent experience is not entirely consistent with this conventional wisdom. We suggest an explanation based on variation across countries in firms' reliance on ambient institutions. Large, well-established firms depend less on an economy's institutions than do small and incipient firms. Multinational firms likewise can use their global organizations to sidestep weak local institutions. Firm heterogeneity of this sort can thus contribute to markedly different institutional responses to liberalization—institutional development is better in locations where firms and potential entrants benefit more from such development. Our framework also suggests that institutional development might occur in stages. In an economy whose basic institutions are sound, individuals rationally invest in entrepreneurial capability and firms rationally invest less in institution substitutes. Economies with firms that rely more on ambient institutions or with more potential entrants who would rely on those institutions are more likely to experience further institutional improvement following accession to the global economy. Economies with fewer firms or potential entrants dependent on sound institutions, in acceding to the global economy, may exhibit scant institutional improvement, and perhaps even institutional deterioration. Political rent-seeking is not necessary for the latter outcome, but expands the range of conditions under which it ensues.
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Siddiqui, Sulaman Hafeez, and Muhammad Shahbaz Khan. "SMEs Intention towards Use and Adoption of Digital Financial Services." Sustainable Business and Society in Emerging Economies 1, no. 2 (December 25, 2019): 65–80. http://dx.doi.org/10.26710/sbsee.v1i1.1007.
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The purpose of this study is to analyses the SMEs owners and managers intention towards use and adoption of digital financial services in South Punjab, Pakistsan. SMEs are considered key contributors to economic activity, as a key-source of employment, growth, and invention. SMEs perform significant role in the system of national financial regulation all over the world, Jobs creation, and contributing to modernization in the financial regulation are significant exertions to achieve ecological sustainability and more growth in access to finance. Access to finance in emerging countries is one of core issue in development of SME sector as well as obstacle in economic growth. Microfinance institutions are considered a good manifesto to enhance access to inclusive finance as well as stress-free access to finance and financial literacy for SMEs to support economic growth but in Pakistan, to obtain these finances not easy for SMEs sectors. SMEs are unfortunately still struggling due to lack of inclusive finance and financial literacy. Recently financial institution introduced digital financial services at micro level that provide access to financial services to each and every citizen in the country without any restriction. To accomplish the purpose of the research, the data was acquired from the SMEs owners and mangers with a sample of 232 chosen randomly of South Punjab, Pakistan. In this research study, merged two best theories; the theory of planned behavior and technology acceptance model was used to describe their behavior. Multiple statistical tests run to check the normality by using Shapiro-Wilk test, reliability and multicollinearity of the data to test the assumptions of regression and correlation. Finally, the results of this intended study revealed that there is a moderate significant but positive relationship between the SMEs owners and managers intention towards use and adoption of digital financial services. The Government of Pakistan should create finance related awareness program, training, technical institution and make a rules and regulation. Further this study suggests to researchers that focus on internal and as well as external factors of SMEs in Pakistan.
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Kovalevskaya, Natalya. "The Evolution of Mortgage Lending Institutions." Journal of Economic History and History of Economics 21, no. 4 (December 30, 2020): 653–81. http://dx.doi.org/10.17150/2308-2488.2020.21(4).653-681.
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The present article describes opportunities for seeking the forms of housing finance, which closely conform to the current needs of the society. The author analyses evolutionary developments of the two main mortgage lending systems, provided either by savings-and-loans banks or by mortgage credit banks. Historical development of loan associations and thrift institutions for housing construction is also in focus of the study. It explores the stages of transferring or, that is also called in literature, “transplantation” of the institutions from the country of origin to other countries. As a consequence of that, the modern studies contain such terms as “donor country” and “recipient country” of the financial institution, which reflect the nature of the transferring (transplantation) process. The evolution scheme of the two main mortgage institutions is considered. Criteria and stages of the institutions’ development in different countries are identified and described in the text. The author also analyses the impact of environment on the institutions’ development, which are dependent on different initial conditions of the institute implementation as well as on social and socio-economic conditions existing in the countries, which choose a certain model of mortgage institutions. The author evaluates the opportunity and attempts to develop the German construction thrift institution model in comparison to classic American mortgage model. The opportunities for developing different forms of mortgage lending in the modern context are under review in the article. They will depend on criteria of difference that financial institutions present as well on conditions of their activity.
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Hodgson, Geoffrey M. "Introduction to the inaugural issue by the Editor-in-Chief." Journal of Institutional Economics 1, no. 1 (May 27, 2005): i—ii. http://dx.doi.org/10.1017/s1744137405000081.
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Major shifts in thinking among economists and other social scientists in recent years have prepared the ground for the launch of the Journal of Institutional Economics. Within economics, for example, after a period of neglect from the earlier to the later decades of the twentieth century, the study of the nature and role of institutions has become a central topic. Explanations of economic growth and development used to focus on inputs, production functions, and outputs, often neglecting the institutional structures that constrain or empower individuals, and frame their incentives and disincentives. Accordingly, for a long time the firm was treated as a ‘black box’, with little regard to the structural determinants of its existence, boundaries, and performance. However, the study of the firm changed dramatically in the 1970s when Oliver Williamson, building on the earlier work of Ronald Coase and others, opened the black box to investigate the firm as an institution. Similarly, in a pioneering series of works, Douglass North has investigated the role of institutions in the historical development of the modern capitalism. There are many other examples of important achievements in this area, too numerous to mention here. The outcome is that institutions have become a central topic of analysis for economists.
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Lapteva, Elena. "Dedication to the 100th Anniversary of the Financial University Under the Government of the Russian Federation. The Making of the Higher Education Institution." Journal of Economic History and History of Economics 19, no. 4 (December 27, 2018): 573–99. http://dx.doi.org/10.17150/2308-2588.2018.19(4).573-599.
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The article analyses the development of economic education in Russia through the example of the Financial University under the Government of the Russian Federation. From its precursor in the pre-revolutionary period to the middle of the twentieth century. It emphases the making of the MFI (Moscow Finance Institute) - the institution that became the bedrock of the glory of the Financial University as one of the countrys leading institutions in the field of economic and financial education. The author briefly examines the making of the institution, from the pre-revolutionary times to the formation of a modern higher educational establishment. The author mentions that commercial schools were at the origins of financial education in Russia, for example, the Aleksandrovskoe Commercial School, became the forerunner of the university. In the Soviet times, starting from 1919, the establishment faced a difficult period of development of a new type of financial institution. The history of the modern Financial University has accumulated the experience of the pre-war Moscow Institute of Economics and Finance, Moscow Industry and Economy, Moscow Accounting and Economy and Moscow Credit-Economic Institutes. This experience was especially useful in the period of post-war reconstruction of the national economy, science and culture of the 1940s. The author draws conclusions about the hard work of the lecturers and staff of the university to improve the level of economic education in the country, to overcome the difficulties and mistakes of the postwar period.
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Abdullah M. Aloweid, Abdullah M. Aloweid. "Residents Opinions toward their Dwellings Built with the Support of the Real Estate Development Fund." journal of king abdulaziz university environmental design Science 6, no. 1 (January 2, 2009): 63–82. http://dx.doi.org/10.4197/env.6-1.3.
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In the past, private sector housing in Saudi Arabia was mostly undertaken through private initiative and almost all houses were financed through savings of individuals or income of the owners, because of the non-availability of construction finance on a long term basis. One of the major approaches by the Government for solving the housing problems was the Real Estate Development Fund (REDF). Its primary objective is to stimulate the development of private sector housing by offering interest free long term loans to Saudi Citizens. It was established as a semi-government financial institution attached to the Ministry of Finance and National Economy. This paper provides an overview and analysis of the private sector housing and the role of the Real Estate Development Fund in the support and development for housing construction in Saudi Arabia. Interviews and questionnaires were conducted with the heads of households in selected dwellings constructed with the support of the Real Estate Development Fund. (134 questionnaires). The conclusion of this work stresses the importance and continuation of the fund in order to increase home ownership however additional measures of control need to be carried out .Recommendations presented in this paper may well help achieve appropriate dwellings that satisfy resident's needs and desires.
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Putera, Asrip, and Muh Yani Balaka. "Treatment strategies for bad loans to microfinancial institutions: evidence from Kendari, Indonesia." Investment Management and Financial Innovations 16, no. 1 (February 27, 2019): 144–53. http://dx.doi.org/10.21511/imfi.16(1).2019.11.
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The purpose of the research is to find the right strategic formula to resolve bad loans suitable to environment and characteristics of micro-financial institutions and their consumers. It applies qualitative approach by means of interactive method put forward by Milles and Huberman (2009) as analysis method. Data are obtained from indepth interview with superordinates, staff and consumers of microfinance institutions in Kendari city. A microcredit institution “Harum” needs several strategis to handle bad loans. It includes: institutional reinforcement (improvement in service procedure, increase in human resources’ skill, more branch offices, more new recuitments, the involvement of sub-district government, the use of information system), reinforcement of consumers’ capacity (tight selection process, counseling of business management, advisory service, and special relationship). The research results serve as solutions to microfinancial institutions in handling bad loans, from which development and sustainability can be assured. Consumers might make use of this information to develop their business. They also might serve as references for regional government in making the right policy for the development of micofinancial institutions and small business empowerment. This is the first study exploring formulation of strategy for microfinancial institutions in handling bad loans. The research explores internal and external aspects of microfinancial institution, with holistic view of the right policy in terms of institutions and consumers.
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Yingjun, Zhu, Sharmin Jahan, and Md Qamruzzaman. "Access to Finance and Legal Framework in Female Entrepreneurship Development in Bangladesh: The Mediating Role of Self-Leadership." Asian Economic and Financial Review 11, no. 9 (September 23, 2021): 762–80. http://dx.doi.org/10.18488/journal.aefr.2021.119.762.780.
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The growing need for entrepreneurship is considered to be a prominent segment of an economy's evolution, especially female entrepreneurs. This study's motivation is to unleash the critical determinants for female entrepreneurs' evolution in the economy of Bangladesh by following institution and self-leadership theory. The study adopted a quantitative method and a structured questionnaire for data collection from female entrepreneurs in Bangladesh. Structural equation modeling (SEM) was applied to explore the causal effects of access to finance and legal framework. The study revealed that women's entrepreneurial activities are immensely influenced by access to finance, legal constraints, and entrepreneurial skills. The mediating effects of self-leadership behavior also influence women's participation in business activities. Based on the results, it is recommended that the government and other institutions should take the initiative in female entrepreneurship that affect women's self-leading behavior and policymakers should consider the financial aspects relating to women’s business activities. This study is also helpful for empowering women financially and helping them to understand their legal rights by formulating a women-centric strategic plan.
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Railiene, Ginta. "E-transparency as an organizational innovation in financial services – the case of Lithuania." Journal of Innovation Management 3, no. 1 (April 7, 2015): 85–103. http://dx.doi.org/10.24840/2183-0606_003.001_0008.
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The development of e-transparency culture requires certain organizational changes related to innovative ways of organizing, structuring and presenting information to interested parties and employing digital technologies. This paper presents the discussion of concepts needed to be researched in order to disclose the e-transparency level of finance institution. It is suggested to focus on content of required and voluntary information (content quality) and on channels for information dissemination (channel quality). The methodology is employed in defining the e-transparency level of Lithuanian credit providers and assessing how innovative finance institutions are in disseminating the regulatory and voluntary information. The research results indicate that Lithuanian banks are contributing to legal requirements, but voluntary presentation of data is rather brief and ways used for information dissemination are poor compared to IT possibilities. The e-transparency culture and organizational innovations in credit unions are under development.
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Alacevich, Michele. "The World Bank's Early Reflections on Development: A Development Institution or a Bank?" Review of Political Economy 21, no. 2 (April 2009): 227–44. http://dx.doi.org/10.1080/09538250902834046.
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Umar, Umar Habibu, Mustapha AbuBakar, Abubakar Jamilu Baita, Tasiu Tijjani Kademi, and Md Harashid Haron. "Do academic and professional institutions promote the awareness and knowledge of Islamic banking and finance in Nigeria?" Journal of Islamic Accounting and Business Research 12, no. 3 (May 7, 2021): 401–17. http://dx.doi.org/10.1108/jiabr-05-2020-0171.
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Purpose The purpose of this study is to examine the contribution of academic and professional institutions in promoting the awareness and knowledge of Islamic banking and finance in Nigeria. Design/methodology/approach The data were generated through a documentary research method by examining the Benchmark Minimum Academic Standards (BMAS) for Nigerian universities and Nigerian university curricula for the relevant undergraduate programs, as well as examination syllabi and training brochures for the relevant professional associations. Findings The study found that universities do not promote significantly the awareness and knowledge of Islamic banking and finance. Similarly, the relevant professional associations through their examinations and training programs contribute little or nothing to the promotion of awareness and knowledge. Research limitations/implications This study solely relied upon documentary evidence upon which the findings were based. In addition, for academic institutions, only undergraduate BMAS and curricula were examined. Practical implications There should be collaborations between the National University Commission of Nigeria, relevant Islamic and non-Islamic professional bodies and Nigerian Universities to ensure that courses (subjects) that could promote the awareness and knowledge of Islamic banking and finance are fully integrated into academic and professional curricula and training programs. Social implications The integration of an adequate number of relevant courses/topics into academic curricula and professional institution examination syllabi and their Mandatory Continuing Professional Development programs would greatly contribute to the production of competent and skillful employees to work for the growth and development of the Islamic banking and finance industry. Originality/value This study provides better ways of ensuring that knowledgeable and qualified employees are produced to work for the sustainability of the global Islamic banking and finance industry.
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Vințe, Claudiu, Ion Smeureanu, Marian Dârdală, and Adriana Reveiu. "SUSTAINABLE DEVELOPMENT IN EDUCATION – AUTOMATING CURRICULUM ASSESSMENT." Technological and Economic Development of Economy 27, no. 5 (July 5, 2021): 1159–85. http://dx.doi.org/10.3846/tede.2021.15018.
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The perpetual need for developing a sustainable economic environment places the education policies at the foundation of social adaptability. Creating and maintaining curriculum content that meets the demands of a continuously changing society, and the challenges that such a rapid evolution put on the labour market, is one of the top priorities for any education system and institution involved in education at any level. This paper proposes a cognitive computing solution for assessing, in a programmatic manner, large corpora of curriculum content created by teachers from lower secondary education environment for Informatics instruction in Romanian schools. The result of this initiative at the national level is corpora of curricular content that must be evaluated to verify the degree to which the material meets the requirements of the national curriculum. We addressed this crucial yet tedious process by designing and implementing a solution for automating curriculum assessment through cognitive computing. The paper outlines a sustainable framework to evaluate curriculum content in an automated fashion, and for providing critical feedback timely to both content creators, and to policy makers responsible for creating economically viable and future adaptable education strategies.
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Dickhaut, John. "The Brain as the Original Accounting Institution." Accounting Review 84, no. 6 (November 1, 2009): 1703–12. http://dx.doi.org/10.2308/accr.2009.84.6.1703.
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ABSTRACT: The evolved brain neuronally processed information on human interaction long before the development of formal accounting institutions. Could the neuronal processes represent the underpinnings of the accounting principles that exist today? This question is pursued several ways: first as an examination of parallel structures that exist between the brain and accounting principles, second as an explanation of why such parallels might exist, and third as an explicit description of a paradigm that shows how the benefits of an accounting procedure can emerge in an experiment.
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Bulut, Mehmet. "CIVILIZATION, ECONOMY AND WAQF IN OTTOMAN EUROPE." Journal of Nusantara Studies (JONUS) 5, no. 2 (June 25, 2020): 48–67. http://dx.doi.org/10.24200/jonus.vol5iss2pp48-67.
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The prosperity, stability, and socio-economic balance observed throughout Ottoman history was largely sustained by several key institutions developed in accordance with emerging challenges of the time whilst functioning effectively. Both the Ottoman economic mindset and impact of those institutions on the socio-economic and financial development cannot be ignored. In addition to other significant economic, social and political institutions, the waqf (charitable endowments) played a crucial role in Ottoman society and contributed to the supply of primary social needs, whether related to education, finance, health, economy, infrastructure or social stability. This article seeks to explore the role of waqfs, especially cash waqfs throughout 15th-19th century Ottoman Europe. It concludes that the investment of those waqf-based charity institution in religious, educational, health, and socio-economic sectors allowed for invaluable contributions in social spheres and public welfare in addition to playing a crucial role in the economic and financial stability and sustainability of the Ottoman society over long periods of time.
Keywords: Balkan, cash Waqf, development, endowment, Islamic finance, Ottoman civilization, Ottoman economy.
Cite as: Bulut, M. (2020). Civilization, economy and waqf in Ottoman Europe. Journal of Nusantara Studies, 5(2), 48-67. http://dx.doi.org/10.24200/jonus.vol5iss2pp48-67
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Hao, Jun, Minghe Sun, and Jennifer Yin. "Convergence to IFRS, accounting quality, and the role of regional institutions: evidence from China." Asian Review of Accounting 27, no. 1 (February 4, 2019): 29–48. http://dx.doi.org/10.1108/ara-01-2017-0008.
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PurposeThe purpose of this paper is to examine the relationship between regional institution and accounting quality.Design/methodology/approachThis study investigates whether and to what extent the convergence to International Financial Reporting Standards (IFRS) improves Chinese firms’ accounting quality. It also examines the role regional institutions play in this process. The focus is on two aspects of accounting quality: the accrual aggressiveness and the timely loss recognition. Specifically, the study tests: whether the convergence to IFRS significantly lowers the accrual aggressiveness proxied by the magnitude of discretionary accruals (DA); whether the convergence to IFRS significantly enhances the timely loss recognition proxied by the likelihood of reporting large negative net income; and whether the effects of convergence to IFRS on accounting quality vary with the quality of regional institutions.FindingsThe findings show that convergence to IFRS generally was accompanied by increases in DA and decreases in timely loss recognition for Chinese firms. Further analysis on the development of regional institutions reveals that both changes in accrual aggressiveness and timely loss recognition are more pronounced for firms located in regions with a lower level of development in the legal environment.Originality/valueThis study contributes to the accounting literature in several ways. First, it extends the accounting literature regarding institutional factors by examining the association between regional institutions and accounting quality. Second, by adopting a within-country setting, the study avoids such problems of cross-country comparisons as confounding factors caused by country-specific accounting rules and regulations, differences in infrastructure and culture, and other potential endogeneity problems (Chanet al., 2010). Third, the attention paid to the European and US application of IFRS overshadows the application and effects of IFRS in emerging markets. By examining China, the world largest emerging economy in the process of economic transition, this study sheds light on the effect of convergence to IFRS on accounting quality for emerging or transitional economies.
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Bayar, Yilmaz, Marius Dan Gavriletea, and Dragoş Păun. "IMPACT OF MOBILE PHONES AND INTERNET USE ON FINANCIAL INCLUSION: EMPIRICAL EVIDENCE FROM THE EU POST-COMMUNIST COUNTRIES." Technological and Economic Development of Economy 27, no. 3 (April 13, 2021): 722–41. http://dx.doi.org/10.3846/tede.2021.14508.
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Poverty alleviation has become one of the biggest challenges for many countries and access to financial services is considered to be a key driver of development and economic growth. Finding solutions that can break down barriers that poor people are facing to access formal financial services has become a major concern for researchers, governments, financial institutions. Financial services must reinvent themselves and the adoption of new technology is a crucial key to overhaul their operations and to find innovative solutions to manage customer expectations. The escalation in access and penetration level of mobile phones and the Internet can improve financial inclusion by facilitating easy access to financial services, by providing secure transaction platforms, by reducing transaction costs, by providing a competitive business framework. There has been relatively limited research on the impact of Internet and mobile phones use on financial inclusion, therefore our main purpose was to investigate this linkage in a sample of 11 post-communist countries of the European Union from 1996–2017 using panel cointegration and causality analyses. Firstly, we investigated whether mobile cellular phone subscriptions and the rate of Internet usage affect financial institutions’ access; secondly, we analysed the impact of these variables on financial market access. Results indicate that mobile cellular phone subscriptions positively affect both financial institution access in countries like Hungary, Latvia, Lithuania, Poland, and Slovenia and financial market access in Bulgaria, Croatia, and Hungary. Also, a negative relationship between mobile cellular phone subscriptions and financial institution access was noticed in the Czech Republic and regarding financial market access in the Czech Republic and Poland. Our findings also indicate both positive and negative relationships between Internet usage rates and financial institutions and financial markets access. By increasing Internet usage we can improve access to financial institutions in Bulgaria, Croatia, Czech Republic, Hungary, and Poland and we can increase financial markets access in Latvia and Slovenia.
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Sakai, Minako. "Establishing Social Justice Through Financial Inclusivity: Islamic Propagation by Islamic Savings and Credit Cooperatives in Indonesia." TRaNS: Trans -Regional and -National Studies of Southeast Asia 2, no. 2 (June 26, 2014): 201–22. http://dx.doi.org/10.1017/trn.2014.4.
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AbstractIslamic finance has been growing significantly across the globe. In Southeast Asia, interest in Islamic finance and its growth is significant in Malaysia. Compared with Malaysia, in Indonesia, however, the largest Muslim population country where an Islamic resurgence has been widely taking place, the growth of Islamic banks remains slower and on a smaller scale. Furthermore, recent research shows that Islamic piety does not systematically translate into the use of Islamic banks among middle-class Indonesians. Against these findings, this article highlights a relatively understudied Islamic finance institution, Islamic Savings and Credit Cooperatives, in Indonesia commonly known as Baitul Maal wat Tamwil (BMT). The BMT sector is separate from the banking sector and as such has received little scholarly attention as part of Islamic finance in Indonesia. The number of the BMTs in Indonesia has increased significantly since the 1990s and they are grass-roots Islamic financial institutions offering financial services to relatively small-scale traders in urban areas. Based on data from anthropological research in Central Java, this article argues that Islamic propagation is an important element among the BMT founders and workers. They perceive their economic activities as Islamic propagation by deeds (dakwah bil hal) to achieve social justice.
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Zachosova, Nataliia, Nataliia Babina, and Volodymyr Zanora. "Research and methodological framework for managing the economic security of financial intermediaries in Ukraine." Banks and Bank Systems 13, no. 4 (December 21, 2018): 119–30. http://dx.doi.org/10.21511/bbs.13(4).2018.11.
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The effective management of economic security of financial and banking institutions at the application level is not possible without formulating the conceptual foundations of this process in the research and methodological plane. With that, the management system should take into account the specifics of financial intermediaries, which requires the development of specific research and methodological approaches. The purpose of the study is to generalize the conceptual framework for economic security management of banking and parabanking financial institutions as an integral part of ensuring the economic security of the financial market and financial security of the state. The authors propose an algorithm for managing the system of economic security of banks and other financial institutions, and identify the features, advantages and disadvantages of models for providing economic security. It is proved that managing the economic security system should consider the type of an institution, its size, the adequate personnel availability, and financial, information and material support. Consequently, effective economic security management should ensure its high level, and, therefore, partially solve the problem of regulating banking security, the financial market security, and, as a consequence, the financial security of the country.
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Alrawi, Ardiansyah, and Gunarto Gunarto. "Fiduciary Agreement Implementation in Car Credit Agreement on Financing Institutions of Mandiri Finance of Cirebon Based on Act No. 42 of 199 About Fiduciary." Jurnal Akta 5, no. 3 (September 5, 2018): 655. http://dx.doi.org/10.30659/akta.v5i3.3238.
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The emergence of various institutions today's economy helped spur the economy of the community. But unfortunately the growth of the economic institutions are not supported by an adequate legal development. The presence of various financial institutions helped bring a major role in economic development of society, especially the poor. These financial institutions emerged as a form of providing funds or capital goods for the public to purchase goods on payment in installments or periodically by consumers. Construction consumer finance based on an agreement with the principle of freedom of contract as legal bases for both parties. In practice financing undertaken by financial institutions poured in the form of a credit agreement. In each of providing credit to their customers finance institutions always face a risk, therefore the customer's business situation and developments to be followed continuously starts the moment the credit is given to the loan. As for giving legal protection to the parties in the process of providing collateral (guarantee), then one of them is with the enactment of Law Fiduciary. Implementation of lending followed by a fiduciary assurance processes at financial institutions in the city of Cirebon most important is the legal effect if the Borrower defaults which are expected to creditors (financial institutions) can be easily exercised fiduciary object. Constraints faced in a fiduciary guarantee is as follows: a. Any cost of making a deed by the Borrower felt heavy, incomplete b. Any requirements of the Borrower to elaborate on the type, brand and quality of the fiduciary object, c. The office registration still limited fiduciary, fiduciary registration e. The office could not provide information on everything about the guarantee with the issuance.Keywords: Financing Institution, Credit Agreements, Fiduciary.
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Novikov, O., A. Manenkov, and D. Borshchigova. "Stages of Development of Sberbank as a Reflection of Changes of the State." Review of Business and Economics Studies 8, no. 4 (March 2, 2021): 44–61. http://dx.doi.org/10.26794/2308-944x-2020-8-4-44-61.
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The research team, consisting of a political scientist and two young international finance specialists, made an interdisciplinary investigation on Sberbank to understand the prerequisites of its current state. To achieve this, the authors checked the history, principles of operation and the relationship of Sberbank with different political institutions, including the national state as the main one of these. We discovered that Sberbank changed drastically parallel to the changes of the state — founded as a transparent, stable saving institution during tsarist Russian Empire it absorbed all the controversy of later epochs with its “crescendo” in the 1990s. Much has been already saying about the citizens’ deposits, made before 1991 and later claimed “burnt” or “zeroed”, but the authors tried to add some arguments trying to represent alternative points of view and calculate the scales of citizens’ financial losses. The paper contains the analysis of the most important facts and stages of development of the organisation since the foundation till recent years.
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KUMAR, ARUN. "From Henley to Harvard at Hyderabad? (Post and Neo-) Colonialism in Management Education in India." Enterprise & Society 20, no. 2 (February 18, 2019): 366–400. http://dx.doi.org/10.1017/eso.2018.86.
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Founded in 1956, the Administrative Staff College of India (ASCI) was established with the objective of professionalizing management in post-colonial India through training, research, and consultancy. It was modeled on the Administrative Staff College at Henley-on-Thames (Henley), in the United Kingdom. Like Henley, ASCI used syndicates for its management training programs. Between 1958 and 1973, ASCI received more than $1.26 million from the Ford Foundation, part of which was used to finance the development and use of the case method in ASCI’s training programs, and later more widely in its research and consultancy. This article traces the ways by which the Ford Foundation––as adominating institution––stigmatized Henley and ASCI, their institutional practices, and the wider Indian society; and legitimized the case method pioneered at the Harvard Business School. Imbricated in the Cold War’s geo-politics, Ford Foundation’s interventions in Hyderabad should be understood as part of the emergence of the United States as the dominant neo-colonial power, which required the displacement of Britain, its institutions, and their practices as the template for India’s post-colonial management institutions.
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Kasdi, Abdurrohman. "Contribution of National Sharia Council Fatwa of Indonesian Council of Ulama (DSN-MUI) in The Islamic Economic Development in Indonesia." IQTISHADIA 11, no. 1 (July 24, 2018): 47. http://dx.doi.org/10.21043/iqtishadia.v11i1.3187.
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<p>This research aims to identify the contribution of <em>fatwa</em> (Islamic instructions of rules) from DSN-MUI in developing the theories and practices of the Islamic economics in Indonesia. The research method used is qualitative, which consists of 116 <em>fatwa</em> DSN-MUI as the main subjects of study. The collected data had been analyzed using content analysis method by creating inimitable and valid data inferences related to its context. The results show that DSN-MUI is the only institution mandated by the law to establish <em>fatwa</em> on Islamic economics and finance, and to provide the provisions of Islamic law toward the Islamic financial institutions in carrying out their activities. Since its establishment in 1998, the roles of DSN-MUI are enormous in laying the foundations of the development of Islamic economics in Indonesia. Until the end of 2017, DSN-MUI has issued 116 <em>fatwa</em> on Islamic economics and finances. Even, DSN-MUI has a very important and strategic role in developing and applying sharia values in the economic field. MUI's important and strategic roles are shown from its position as a pioneer in socialization, internalization, and triggering the Islamic economic growth in Indonesia.</p><p> </p>
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MADATOVA, Oksana V. "The importance of introducing the voluntary prohibition of lending." Finance and Credit 27, no. 3 (March 30, 2021): 523–39. http://dx.doi.org/10.24891/fc.27.3.523.
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Subject. Relating to a drop in people’s income, cycles of economic crises, a decrease in the hydrocarbon prices and other factors, societal changes triggered a growth in criminal attempts towards property, with lending crimes being one of the principal challenges. According to studies, respective public authorities cannot resolve the issue alone. The governmental mechanism for voluntary lending prohibition was chosen to address the issue, like it was done with real estate crimes. I herein found out that the theory of finance can be further elaborated, applying the proposed principles to banking practices. Objectives. I set up the mechanism, unfold the theory and practice of banking, which would help protect people from lending fraud. Methods. At the empirical level, the study is based on observation, while I use the abstraction, idealization, induction and deduction, versatile methods of research, such as analogies, analysis, synthesis, and interviewing as a personalized expert method at the theoretical method. Conclusions. In the voluntary lending prohibition is introduced in Russia, this will significantly enhance the economic security of people against lending fraud. The findings contribute to the development of the theory of finance in banking and can be used in practice of credit institutions. The findings may underlie the further development of the theory of credit institution finance, improvement of the banking laws of the Russian Federation and ensure the protection from the constitutional right for property protection. They can be used by financial institutions’ practice.
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Myronenko, Mark, Olena Polova, Olha Khaietska, and Natalia Koval. "Capitalization of banks: theory, practice and directions of ensuring." Banks and Bank Systems 13, no. 1 (April 27, 2018): 173–83. http://dx.doi.org/10.21511/bbs.13(1).2018.16.
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In the article, the essence of the concept of a banking institution “capitalization” is revealed. The current state of capitalization level of domestic banks is investigated. The directions of strengthening the capitalization are offered, which will increase the com¬petitiveness of domestic banking institutions in the world financial market and will ensure the national economy stability on the way toward integration into the world economy.It is proved that the prospects for the development of any bank are largely determined by its capitalization level. Lack of proper development inhibits both individual banks and the banking sector as a whole.In the context of the recent financial crisis, the provision of sufficient capital for banks has been one of the key issues, because the lack of capital was the greatest threat to the banking system stability. With this in mind, the issue of the banking system capitaliza¬tion is particularly topical.Today, the development of the Ukrainian banking system under economic instability has faced the increase in competitiveness of domestic banks compared with foreign ones, in order to preserve the national priorities of the banking system in general under conditions of foreign capital movement.The processes of concentration in the banking system of Ukraine are analyzed using Herfindahl-Hirschman index in terms of assets and equity, allowing to estimate the level of monopolization and, therefore, the impact on economic development. To con¬sider the increase in the level of capitalization and reliability of the banking institutions of Ukraine, it would be advisable, first of all, for banks to improve the quality of capital and to ensure a sufficient level of coverage of risks taken by banks.
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Chiaruttini, Maria Stella. "Woe to the vanquished? State, ‘foreign’ banking and financial development in Southern Italy in the nineteenth century." Financial History Review 27, no. 3 (December 2020): 340–60. http://dx.doi.org/10.1017/s0968565020000220.
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After Southern Italy became part of a new, national state in 1860, its financial sector was radically transformed under Piedmontese influence. This article challenges the conventional wisdom that the aggressive penetration of a Northern credit institution, the future Bank of Italy, into the South following unification harmed the local banking system and highlights instead its transformative role in modernising and deepening regional credit markets. On the basis of new statistics, banking and political records, this contribution shows that the introduction of ‘foreign’ banking from Northern Italy under the auspices of a national, constitutional government resulted in a financial revolution and a democratisation of credit supply to the advantage of the whole South. Public banking under the Bourbons had privileged the needs of an absolute government over those of the private economy and of the capital city over those of the rest of the country, retarding financial development. Credit undersupply and regional fragmentation could only be overcome through the integration of the South within a larger Italian market, in which, however, the lion's share went to a predominantly Northern institution.
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Nurhidayat, R., and Sigit Setiawan. "STUDI POTENSI PENDANAAN CLIMATE CHANGE PADA LEMBAGA KEUANGAN MULTILATERAL." Kajian Ekonomi dan Keuangan 15, no. 1 (November 9, 2015): 27. http://dx.doi.org/10.31685/kek.v15i1.84.
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Climate Change has adversely brought impacts to a large number of countries all over the globe, including Indonesia. The issues regarding climate change impacts have become primary concerns in managing sustainable economic development in Indonesia. In striving to tackle those impacts, funding will be a key element. While the State Budget has allocated a particular amount of funding, other sources of external funding is actually expected, including those from multilateral financial institutions. ADB is one of the multilateral donor institutions that provide climate change adaptation and mitigation related fund. In this study, the potentially utilized financing sources of the donor institution by Indonesia is explored, both solely from the individual institution or in cooperation with other donors. The potential financing source aspects which are analyzed cover funding mechanisms, types of funding, and the fund allocation provided. Other key aspects such as assessment and evaluation criteria employed by ADB to approve a particular project to finance under its portfolio are also explored, completed with several project examples under ADB funding.
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Parvez Ahmed, Samiul, Rahatul Zannat, and Sarwar Uddin Ahmed. "Corporate governance practices in the banking sector of Bangladesh: do they really matter?" Banks and Bank Systems 12, no. 1 (March 24, 2017): 27–35. http://dx.doi.org/10.21511/bbs.12(1).2017.03.
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A well governed institution is expected to use its resources optimally and, thus, perform more efficiently and contribute positively to economic development of a nation. However, often, it can be seen that poor management of the stakeholders leads to less than optimal strategic directions for an institution. Due to recent global financial crisis and rising issues of the Bangladeshi banking sector, corporate governance is one of the factors that have gained considerable attention. Recent drive of the governance issues of the banking sector of Bangladesh is expected to bring positive change in the financial sector and, hence, it is crucial to assess whether complying with governance codes leads to desired outcome or not. Specifically, the main purpose of this study is to examine the relationship between performances of commercial banks with corporate governance factor along with some internal and macroeconomic variables. Thus, the listed commercial banks in the Dhaka Stock Exchange (DSE) of Bangladesh were considered for the study. Subsequently, considering data availability of the time period (2011-2014), 29 listed commercial banks in the DSE have been considered and, hence, Ordinary Least Squared (OLS) regression models were used through Eviews 8.0 for analyzing the data. Though the study shows a positive relation between corporate governance and performances of banks, the statistical insignificance of the relation raises concern regarding various issues of corporate governance in the financial sector of Bangladesh. Keywords: corporate governance, financial institutions, performances of commercial banks. JEL Classification: G21, G30, G38, G39, O16
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Tambovtsev, V. L. "The quality of institutions: Problems of definition and evaluation." Voprosy Ekonomiki, no. 7 (July 12, 2021): 49–67. http://dx.doi.org/10.32609/0042-8736-2021-7-49-67.
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The article is devoted to the analysis of modern ideas about the quality of institutions concept, and the development on this basis of its generalized and operational understanding. The interpretation of the quality of the institution as its legitimacy from the point of view of stakeholders of the institution’s performance is grounded. Starting from the understanding of the object or process legitimacy as a recognition of its right to exist, an approximate question is proposed for conducting sociological surveys to assess the quality of institutions. In the final section of the article, the evolutionary definition of the concept of quality is proposed, and it is shown that the identification of the institutions quality with their legitimacy is fully consistent with this definition.