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1
Cameron, Colleen W. "Universal banking and the U.S. banking system." International Advances in Economic Research 1, no. 1 (February 1995): 83–84. http://dx.doi.org/10.1007/bf02295867.
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Guinnane, Timothy W. "Delegated Monitors, Large and Small: Germany's Banking System, 1800–1914." Journal of Economic Literature 40, no. 1 (February 1, 2002): 73–124. http://dx.doi.org/10.1257/0022051026985.
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Banks play a greater role in the German financial system than in those of the United States or Britain. Germany's large universal banks are admired by those who advocate bank deregulation in the United States. Others admire the universal banks for their supposed role in corporate governance and industrial finance. Many discussions distort the German banking system by overstressing one of several types of banks, and ignore the competition and cooperation between the famous universal banks and other banking groups. Tracing the historical development of the German banking system from the early nineteenth century places the large universal banks in context.
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STANCIU, LAURA. "Italian multinational banking in interwar east central Europe." Financial History Review 7, no. 1 (April 2000): 45–66. http://dx.doi.org/10.1017/s0968565000000032.
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Laura Stanciu, Italian multinational banking in interwar east central EuropeThis article examines the interwar development of multinational investment undertaken by the most prominent Italian universal bank — Banca Commerciale Italiana — in Bulgaria, Hungary, Poland and Romania, referred to here as east central Europe. It analyses the extent to which considerations concerning universal banking's development are valid in the case of Italian multinational investment in this region. The article is neither a study of the 1930s financial crisis nor an analysis of the Italian universal banking per se. Instead, it questions the implicit relationship between the fate of the activities of Banca Commerciale Italiana in east central Europe and the general problems of the universal banking system during the early 1930s. Evidence seems to suggest that the bank's withdrawal from the region, beginning in the late 1920s, was more a result of managerial shortcomings and unsound investment decisions than the crisis.
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Corvalan, Jorge. "The Paraguayan financial system and Paraguay's experience in universal banking." Quarterly Review of Economics and Finance 52, no. 2 (May 2012): 158–61. http://dx.doi.org/10.1016/j.qref.2011.12.011.
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Goswami, Chandana, and Nilanjana Deb. "Tracing the Path to Universal Banking: The Indian Scenario." Journal of Nepalese Business Studies 7, no. 1 (July 9, 2012): 17–30. http://dx.doi.org/10.3126/jnbs.v7i1.6399.
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In India, the Commercial Banking sector has been the dominant element in the country’s financial system and performed the key functions of providing liquidity and payment services to the real sector, and has accounted for bulk of the financial intermediation process. However, since early 1990s, the Indian banking sector has been subjected to various reform measures initiated by the Government at the backdrop of economy-wide structural adjustment programme and also in response to the unsatisfactory economic and qualitative performance of the Public Sector Banks owing to lack of competition, low capital base, low productivity and high intermediation cost.Financial sector reforms have uprooted many of the outdated regulatory fences within which banks were required to carry out their activities. This provided more liberty to banks and they started exploiting different areas of operation. Gradually, many of the banks, apart from their indigenous function i.e., banking, started having substantial interests in all sorts of financial businesses like insurance, funds management, mutual funds, securities trading etc. Eventually, such a bank acquired the status of Financial Conglomerate and slowly began moving towards Universal Banking framework. However, in this process, the risk exposure of banks increased further and also it has raised a question on what should be the effective regulatory system for monitoring such conglomerates.Therefore, an attempt is made to trace the path of transition of Indian banks towards Universal banking framework, their risk exposure, opportunities and challenges confronted in this process of transition and the regulatory system needed to monitor such entities.The Journal of Nepalese Business Studies Vol. Vii, No. 1, 2010-2011Page : 17-30Uploaded date: July 7, 2012
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Mardanugraha, Eugenia, and Muliaman D. Hadad. "FENOMENA UNIVERSAL BANKING DITINJAU DARI PERSEPSI PELAKU SISTEM KEUANGAN INDONESIA." Buletin Ekonomi Moneter dan Perbankan 9, no. 2 (February 13, 2007): 5–20. http://dx.doi.org/10.21098/bemp.v9i2.202.
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The development of the financial system tends to move to a liberalized system where the geographical border vanished as well as the limitation on the function of the financial institution. The product intersection and similiarity across the bank, insurance and securiy gives the signal of the integration process into one multi-function financial institution, which in turn create a universal bank; a bank that run both bank and non-bank function.This tendency requires a stronger cooperative coordination between the bank and the non-bank regulator, yet the explicit forms of the relationships are not defined well. This papaer highlights this issue by analyzing and contrasting the perception about the bank and the non-bank institution. The aim of this paper is to provide a insight for the regulators of how to coordinate and control this unifying functional process between the bank and the non-bank institution in Indonesia.Keywords : universal banking, financial coordination, IndonesiaJEL Classification : E52, G21, G22, G28
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Dadashzade, Ali. "Data Quality in Banking System: Case of Azerbaijan." International Journal of Finance & Banking Studies (2147-4486) 7, no. 2 (September 12, 2018): 1–8. http://dx.doi.org/10.20525/ijfbs.v7i2.877.
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Data quality in banking and financial sector is one of the most researched topics nowadays. With the increasing regulatory burden and increased importance of targeted sales, data quality directly influences funds and performance of banking system. In this paper, the author is aiming to define universal reasons and causes of data quality problem and apply the case to local Azerbaijani banks taking into account local managers’ personal view based on their banking experience. Key finding of the research is that unintegrated software, wrong data insertion, aging of data with the growing speed of market, corporate governance and inability to calculate true costs of low data quality to the local banks are the reasons of data quality issue in the local banks. Moreover, main costs of the data quality issue are time and money, appearance of hidden data factories, obstacles to apply and measure KPIs, uncorrelations in sensitivity analysis and ineffective marketing strategies.
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Shen, Chung-Hua. "Cost efficiency and banking performances in a partial universal banking system: application of the panel smooth threshold model." Applied Economics 37, no. 9 (May 20, 2005): 993–1009. http://dx.doi.org/10.1080/00036840500076838.
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Lukovnikova, N. S. "Specifics of using credit banking instruments in conditions of the Russian banking system development." Financial Analytics: Science and Experience 13, no. 4 (November 13, 2020): 383–97. http://dx.doi.org/10.24891/fa.13.4.383.
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Subject. Uncertainty and risks of the banking system development have increased against the background of identified inefficient credit and payment instruments. The conceptual framework for the said system development includes not only the State support to backbone banks, but also establishing the cause-effect relationship between the offered banking product and the service, and the conditions and legal grounds stipulated for banks, having basic and universal licenses. Objectives. The purpose is to identify the specifics of banking operations related to credit products, considering the changes in distribution of payment instruments of banks in the credit card market. Methods. The study employs empirical and theoretical methods, like formalization, observation, comparison, test of cause and effect relationships. The systems approach forms a basis of the study. Results. I consider conditions for obtaining the government support for targeted loans, including the participation in major innovative projects and programs and the need to balance financing for the acquisition of intangible assets through subsidized interest rates on loans. It is recommended to introduce the concept of ‘credit banking instruments’ for scientific and economy-related purposes. Conclusions. Improving the efficiency of the use of credit banking instruments should be implemented on the basis of a comprehensive system of preventing financial losses, diversification of loan portfolio and optimization of payments with bank card holders, taking into account the lending policy, formed in the context of activities of a particular federal district and the subject of the Russian Federation.
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Fohlin, C. "Regulation, taxation and the development of the German universal banking system, 1884-1913." European Review of Economic History 6, no. 2 (August 1, 2002): 221–54. http://dx.doi.org/10.1017/s1361491602000096.
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Fohlin, Caroline. "Does Civil Law Tradition and Universal Banking Crowd out Securities Markets? Pre-World War I Germany as Counter-Example." Enterprise & Society 8, no. 3 (September 2007): 602–41. http://dx.doi.org/10.1017/s1467222700006200.
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This article poses three main questions: Does the civil-law tradition favor large, concentrated, universal banking systems? Does this sort of legal system work against the development of active securities markets? Do powerful universal banks (whether or not legal tradition lies at the root of bank power) replace securities markets or prevent them from operating efficiently? Based on evidence from Pre-World War I Germany, this paper argues that the answer to all three questions is “no.”
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Saunders, Anthony, and Ingo Walter. "Financial system design in the Asia Pacific context: costs and benefits of universal banking." Management Decision 34, no. 9 (November 1996): 29–36. http://dx.doi.org/10.1108/eum0000000004294.
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Oliynyk-Dunn, Olena. "Financial System and Agricultural Growth in Ukraine." Organizacija 50, no. 3 (August 1, 2017): 244–53. http://dx.doi.org/10.1515/orga-2017-0016.
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Abstract Background/Purpose: An effective financial system should increase the efficiency of economic activities. This study provides evidence regarding the importance of financial development for agricultural growth in Ukraine. Methodology: We used non-integrated and integral indicators, time series and regression analysis to investigate the link between the financial development and agricultural growth. Results: The results based on integral indicators shows that the financial development does not affect agricultural growth in Ukraine. The study based on non-integrated indicators, which characterizes various aspects of the financial system’s banking component and agricultural growth, provided a significant link between the financial system and agriculture growth. The regression models revealed if bank deposits to GDP (%) increases the value added per worker in agriculture increases exponentially. The results of the study indicate that, agriculture is more sensitive to lending changes than the vast majority of other sectors of the economy. The increasing lending of one UAH (Ukrainian hryvnia) resulted in retail turnover growth of 1.62 UAH, while agricultural gross output, growth was UAH 5.06. Conclusion: Our results reveal a positive relationship between financial system’s banking component and agriculture growth in Ukraine. The results indicate the necessity for continued research into further developing universal methodological approaches of appraising the nexus of the financial system’s banking component on agriculture growth in general as well separate farm groups. The results of our study has important implications on policy making authorities efforts to stimulate agricultural growth by improving the efficiency of the financial system’s banking component.
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Moser, Florian. "Mobile Banking." International Journal of Bank Marketing 33, no. 2 (April 7, 2015): 162–77. http://dx.doi.org/10.1108/ijbm-08-2013-0082.
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Purpose – Though Mobile Banking has raised high expectations in research and practice, it neither experienced broad adoption nor allows it banks to realize additional earnings yet. By analyzing the discourse in form of publications in research and practice as a proxy for the subsequent actual adoption, the purpose of this paper is to examine whether Mobile Banking is just a fashionable concept and whether academics or practitioners are leading the debate on Mobile Banking. Design/methodology/approach – On the basis of academic and practical Mobile Banking publications from the last 13 years, discourse analysis was applied to examine patterns in the Mobile Banking literature and thus debate in research and practice. Previous patterns have been extended to examine whether the Mobile Banking discourse has fashionable aspects indicating a transient hype or whether it indicates long-term institutionalization. By differentiating between academic and practical publications, the different roles have been analyzed. Findings – Mobile Banking discourse shows a positive trend indicating a broader adoption in nearer future which should encourage both researchers and practitioners to stay involved in the topic. Temporary developments and the emergence of technological innovations (e.g. Universal Mobile Telecommunications System, iPhone) created a fashionable hype around Mobile Banking showing that the acceptance is probably linked to developments like convenience, usefulness or availability. New phenomenon like social networks thus should be integrated in future considerations regarding Mobile Banking. Originality/value – First study about the fashionable aspect in Mobile Banking literature discourse. Combination of conceptual work, literature review and methodological approach in form of regression and pattern analysis. Applies the method of a former work and extends the methodology by the characteristics of fashionable innovations.
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Ларина and O. Larina. "Banking Crises: Identification Problems and Resolution." Administration 5, no. 2 (July 5, 2017): 9–15. http://dx.doi.org/10.12737/article_59537e6a9b2da4.92003456.
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This article examines crisis developments in the banking system and contains a classification of banking crises. Banking crises have many common characteristics, but often their course is different. They can vary in nature spread of the crisis in the national economy, the depth and severity, the number of affected financial institutions, among other symptoms. The most dangerous and devastating condition is called systemic banking crisis, a crisis that affected the entire national banking system. The author used method of system analysis, method of comparison and clusterization method. We will analyze resolution strategies and specific anti-crisis tools used in Russia and abroad, and applicable to different conditions. Identification of the crisis is needed to develop and adopt strategies to overcome it. Banking crises can cause different and sometimes completely contradictory factors. Practice shows that there is no universal strategy for normalizing the situation in the banking sector, but in any case it is necessary to note the importance of state participation in the process of overcoming the banking crises. In the absence of government intervention banking crises have serious consequences for the economy. The form of state participation in the process of overcoming a banking crisis and the extent of state involvement in solving the problems of insolvency of banks can be different: the government may restrict the measures to promote and support organization of private capital, to prefer the formal financial support of some banks, to take the banks under state control (control) or eliminate part of banks.
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Othman, Rohana, Nooraslinda Abdul Aris, Rafidah Mohd Azli, and Roshayani Arshad. "Islamic Banking: The Firewall Against The Global Financial Crisis." Journal of Applied Business Research (JABR) 28, no. 1 (December 21, 2011): 9. http://dx.doi.org/10.19030/jabr.v28i1.6679.
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The global financial crisis that devastated many of the worlds financial systems in a manner never seen before exposed the glaring weakness in risk management and interest-driven policies. The crisis brought the collapse of several iconic financial institutions once perceived to be too strong to capitulate. The crisis engulfed one economy after another from corporations to eventually bring about the collapse of governments of countries reeling from the impact of the crisis. Asset values plummeted and the crisis clearly demonstrated the fragility of the western capitalist system and the free market economy. The Islamic economic and financial system is anchored on universal honorable values, ideals and morals - honesty, credibility, transparency, co-operation and solidarity. These fundamental values uphold stability, security and safety in any financial transactions. Of paramount consideration is that the Shariah prohibits any economic and financial transactions that involve usury, lying, gambling, cheating, unsubstantiated risk or uncertainty (gharar), monopoly, exploitation, greed, unfairness and taking other peoples money unjustly. Another key aspect to the philosophy behind the Islamic financial system is money issued must be fully asset backed. It is impermissible to allow money to be traded for money except at par. Islam is not just the prohibition of riba and zakah (alms); it is a comprehensive system to fulfill societys basic necessities (food, clothing and shelter). History has demonstrated that Islam has the capacity to deliver and has succeeded in providing a viable economic system.
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Dombret, Andreas, Thilo Liebig, and Ingrid Stein. "Trennbankensystem – ein Weg zu mehr Finanzstabilität in Deutschland?" Perspektiven der Wirtschaftspolitik 15, no. 1 (February 1, 2014): 41–55. http://dx.doi.org/10.1515/pwp-2014-0002.
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AbstractThis article examines how the introduction of a specialised banking system is likely to impact banks and the real economy in Germany, in particular from a financial stability perspective. This study is motivated by a recently passed law in Germany on a specialised banking system (Trennbankengesetz), current reforms in the US and UK and proposals for the EU. We focus on the consequences of a separation of the savings & loan business and proprietary trading. We conclude that proprietary trading plays a significant role only for large, systemically important banks in Germany. The latter act as universal banks and grant a considerable fraction of all loans that go to domestic enterprises and consumers. Costs for customers, however, are likely to be moderate. In contrast, a specialised banking system may provide the important advantage that insolvent trading units can be separated more easily from the savings & loan business arm and eventually liquidated. In this way, implicit state guarantees may be reduced.
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Chekanova, T. E. "On the Major Differences between the Banking Systems of the EAEU States." Economics and Management 26, no. 4 (June 10, 2020): 397–406. http://dx.doi.org/10.35854/1998-1627-2020-4-397-406.
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The presented study examines the problems of integration of the national banking systems of the member states of the Eurasian Economic Union (EAEU).Aim. The study aims to examine the major differences in various aspects of functioning of banking systems in the EAEU member states in terms of their impact on integration processes.Tasks. The author identifies the most prominent features of the banking systems of the EAEU states; reveals the depth of the existing differences through a comparative analysis of various indicators of national banking systems; outlines ways of overcoming integration problems associated with differences in the banking sectors of the Union states.Methods. This study is based on universal general scientific methods and elements of comparative, functional, and economic analysis within the framework of a systems approach. The author uses regulatory documents and banking reports of the EAEU states, statistical and analytical materials of the Eurasian Economic Commission (EEC), and data of Moody’s international rating agency.Results. The study identifies a number of aspects that contain the major differences in the functioning of banking systems in the EAEU member states; highlights the disproportions in the scale, level of development, financial stability, and risks of the banking spheres of the Union states; comparatively analyzes the proportion of banking and non-banking structures in the system and the share of the government and non-resident companies in the capital of banks; marks the difference in the pricing of banking services; determines differences in the existing approaches to banking regulation and the established standards; analyzes the major differences in the legislative acts of the central banks and governments of the EAEU member states and in the terms and definitions used. According to the results of the study, the major factors hindering the development of integration processes between the banking systems of the EAEU states are identified.Conclusions. The existing differences between the banking systems of the EAEU countries are diverse and multifaceted. The author states that the aspects addressed in this study have a significant negative impact on the further development of integration processes, describing the major directions and actions of the member states aimed at minimizing the exiting differences, which are required to facilitate the convergence of the states and the transition towards a common financial market.
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Leonov, Serhiy, Hanna Yarovenko, Anton Boiko, and Tetiana Dotsenko. "Prototyping of information system for monitoring banking transactions related to money laundering." SHS Web of Conferences 65 (2019): 04013. http://dx.doi.org/10.1051/shsconf/20196504013.
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The article deals with the prototyping of an information system for intrabank monitoring of transactions related to money laundering. It has been proven that the automation of financial monitoring system would increase the bank’s efficiency due to examining all bank transactions without exception, leveling the human factor, maximizing the speed of identifying suspicious transactions, which will provide the bank management with the possibility to reduce reputational risk and minimize losses related to paying penalties imposed by regulatory agencies. It has been established that the prototype of the information system for monitoring transactions related to money laundering through banks should consist of a model of the business process monitoring in an automated system environment, a DFD model of automated monitoring of banking transactions, a structural database model, user interface forms and the logic of validation business rules. The resulting methodological and practical developments are a universal component of the financial monitoring system of any bank since they have the opportunity to transform and adapt to new standards for reporting entities or differentiation of the business processes of a bank.
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Suryaningsih, Sri Abidah. "APLIKASI MUDHARABAH DALAM PERBANKAN SYARIAH DI INDONESIA." Journal of Innovation in Business and Economics 4, no. 1 (August 14, 2014): 13. http://dx.doi.org/10.22219/jibe.vol4.no1.13-24.
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This theory analysis article aims to describe the meaning of mudharabah, explain about Sharia banks, and provide an overview on implementation of mudharabah in Islamic banking in Indonesia. Mudharabah takes place when there are investor (Shahibul mall), fund manager (mudharib), business activity, and profit sharing proportion (nisbah) agreement between investor and manager. Sharia banking should be performed based on some characteristics, specifically: usury (riba)-free, provides public services and realizes the socio-economic goals of Islam, universal, and applies profit and loss sharing. Moreover, mudharabah application in Islamic banking in Indonesia has the following characteristics: transactions must be intended to financing, business management is entrusted to mudhorib, and profits sharing system must be based on the principle of revenue sharing and proportion of profit sharing are subject to change during the term of the contract as agreed in the initial contract.
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Chmielarz, Witold, Konrad Łuczak, and Marek Zborowski. "On Aspects of Quality Assessment Criteria of Mobile Banking Applications in Poland." INTERNATIONAL JOURNAL OF INNOVATION AND ECONOMIC DEVELOPMENT 5, no. 6 (2020): 54–69. http://dx.doi.org/10.18775/ijied.1849-7551-7020.2015.56.2005.
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The main objective of this article is to present the findings and to analyse a survey questionnaire used to assess the quality of mobile banking applications offered by commercial banks in Poland. The study carried out by the authors concerned the importance of the evaluation criteria adopted in the studies into the quality of mobile applications for individual users. The findings discussed in the article focus on mobile banking applications offered by universal banks in Poland which are available for mobile devices running on the Android, iOS and Windows operating systems. The structure of the article consists of presenting the general assumptions of the study, describing the methodology and the research sample, analysing the obtained findings as well as relevant discussions and interpretations. The paper is of a quantitative nature and has been conducted on a selected sample of respondents using banking services and products. The presented study and its analysis will empirically verify how individual clients assess the quality of banking applications and which criteria of this evaluation are most important to them. The authors’ original contribution was: specifying the criteria used for websites’ evaluation as the main indicators of the perception of the quality of websites; identifying the best e-banking websites and formulating conclusions which may constitute the starting point for designing an efficient system for quality management of e-services in the sectors.
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Dayag, Antonio Jaramillo, and Fernando Trinidad. "Assessment of the correlation between price-earnings ratio and stock market returns of universal banks in the Philippines." International Journal of Research in Business and Social Science (2147- 4478) 8, no. 5 (August 18, 2019): 172–81. http://dx.doi.org/10.20525/ijrbs.v8i5.481.
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Universal banks are important economic drivers in the Philippines since they provide the financial backbone for businesses and investments. Universal banks comprise 90% of the country’s banking system resources. Eleven [11] of the twenty-one [21] universal banks in the country are listed in the Philippine Stock Exchange, and these banks are the top universal banks based on capitalization. Price to Earnings Ratio [PER] is a commonly utilized investment assessment tool and this ratio indicates how much investors are willing to pay for a stock and is calculated as the ratio of the stock price over earnings per share. Since the stock price is dictated by the stock market, this paper seeks to determine if the P/E ratio of universal banks in the Philippines is correlated to its stock returns, the implication of which is how to form an appropriate balance between stock price volatility and banks’ valuation. The paper uses panel data of the 11 listed universal banks from 2010 to 2018, using Pearson Correlation. The study resulted in a generally weak correlation, however, there were banks that exhibited strong, positive, significant correlation.
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Shchegoleva, Natalia, and Olga Terenteva. "World Monetary System Transformation: the Future for Crypto Currency?" Moscow University Economics Bulletin 2018, no. 2 (April 30, 2018): 75–93. http://dx.doi.org/10.38050/01300105201825.
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Rapid spread of cryptocurrencies and the underlying technologies (blockchain) can transform the global financial system, as cryptocurrency has the potential to become a universal global currency. The article makes the conclusion concerning the timeliness and importance of cryptocurrency legitimization in Russia, which alongside the identified shortcomings contains significant competitive preferences for the banking industry, financial services market as well as for the state, drawing on quality blockchain technology mastering. The paper recommends to clarify the definition of electronic money in the Federal law «On National Payment System» under which a transaction with the cryptocurrency eliminates a third party intermediation. According to the authors, the spread of cryptocurrencies and the use of the blockchain technology will with a high degree of probability result in the transformation of the world monetary system due to the development of cryptoeconomy.
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Gunnlaugsson, Geir. "Child health in Iceland before and after the economic collapse in 2008." Archives of Disease in Childhood 101, no. 5 (October 15, 2015): 489–96. http://dx.doi.org/10.1136/archdischild-2014-307196.
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After rapid economic growth, more than 90% of the Icelandic banking system collapsed within 2 weeks in October 2008. A severe economic crisis of historic proportion ensued from which Iceland is still recovering. To protect those most vulnerable, governmental response included policy measures aimed to address the needs of children, families, the elderly, those on social benefits and the unemployed. By the maintenance of free universal healthcare for pregnant women and children, child health has been preserved. Six years later, there is little notable impact of the crisis on key child health indicators. Yet, the proportion of children born small-for-gestational age increased from 2.0% to 3.4%. One important pillar for the outcome is the good coverage and easy access to universal healthcare, educational and social services with highly qualified professionals. Iceland has shown that, by protecting the most vulnerable and maintaining universal access to healthcare, children's health and well-being can be maintained during an economic crisis.
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Wixforth, Harald, and Dieter Ziegler. "The niche in the universal banking system: the role and significance of private bankers within German industry, 1900–1933." Financial History Review 1, no. 2 (October 1994): 99–119. http://dx.doi.org/10.1017/s0968565000001074.
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Bessler, Wolfgang, and Matthias Stanzel. "Conflicts of Interest and Research Quality of Affiliated Analysts in the German Universal Banking System: Evidence from IPO Underwriting." European Financial Management 15, no. 4 (September 2009): 757–86. http://dx.doi.org/10.1111/j.1468-036x.2009.00508.x.
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Eliseev, Boris P., and Alexander S. Kamzolov. "THE CONCEPT OF CONSTRUCTING A SYSTEM OF CONTROL AND REGULATION OF TRANSPORT SERVICES." Civil Aviation High TECHNOLOGIES 21, no. 6 (December 26, 2018): 105–12. http://dx.doi.org/10.26467/2079-0619-2018-21-6-105-112.
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The article gives a brief analysis of the transport industry condition in the context of the provision of passenger transportation services, considers the existing problems of enterprises in the market economy conditions such as: the lack of guarantees and responsibility of suppliers to consumers, and vice versa (delays and non-payments, defaulters); forced lending to enterprises by transport companies and agencies, that means the use of banking services in the non-banking sector; the lack of developed for all types of transport domestic inventory and distribution systems based on the uniform requirements; the weakness of the existing system of control and prevention of dangerous trends, which leads to crises in the market and the chain reaction of insolvency of the participants. In this regard the article proves the justification for the creation of a unified system of control and regulation of transport services, aimed at providing control and monitoring of the conditions of the enterprises and the system as a whole, preventing dangerous trends and crises; providing mutual guarantees and protection of risks of both suppliers and consumers; creating a universal payment center; development of criteria for assessing market participants (ratings of solvency, reliability and other assessment methods). All this taken together will prevent negative consequences for transport companies. The structure of such a complex system, necessary subsystems and their functionality are considered. Specific solutions are proposed, whose implementation will allow constructing elements of a single control system on the basis of existing and operating in the industry inventory and distribution systems, as well as the mechanism of regulation and effective impact on the transport industry enterprises.
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Siddique, Zahid. "Index for measuring convergence between objectives and practice of Islamic banking." International Journal of Islamic and Middle Eastern Finance and Management 14, no. 2 (February 8, 2021): 205–29. http://dx.doi.org/10.1108/imefm-09-2019-0392.
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Purpose Islamic banking was developed to serve two objectives: to replace interest-based loan system with profit and loss sharing investment modes and to promote equity in resource allocation. The first objective is called procedural whereas the second one is termed consequential. Scholars have been debating about the success of Islamic banking in achieving these objectives. This paper aims to develop an index for measuring the extent of convergence between theory and practice of Islamic banking. Design/methodology/approach For measuring the procedural and consequential convergence between objectives and practice of Islamic banking, the paper derives a set of indicators from the celebrated theory of Islamic banking and then develops the methodology of ranking all banks in terms of those indicators. Findings The paper provides ranking of Islamic banks in Pakistan in the light of this index. The results indicate that none of the Islamic banks in Pakistan has been doing good enough to achieve the convergence, instead they are moving in the opposite direction over time. Practical implications Using the methodology developed in this paper, universal ranking of Islamic banks may be issued every year. Originality/value Scholars have proposed some indices for measuring the performance of Islamic banking. There are two basic problems with these proposed measures: they do not directly compare the performance of Islamic banking against its stated objectives and they naively use an additive form of index without explaining the reason for this choice, i.e. as to what are the desirable characteristics which their preferred mathematical form of index serves. The index proposed in this paper attempts to overcome these shortcomings.
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Jaeger, Mireille, Yasmina Lemzeri, and Jean-Noel Ory. "Cooperative versus Conventional (Joint-Stock) Banking In Europe: Comparative Resistance And Resilience During The Recent Financial Crisis." Journal of Applied Business Research (JABR) 32, no. 5 (September 1, 2016): 1341. http://dx.doi.org/10.19030/jabr.v32i5.9764.
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During the banking crisis of the 1990s, French cooperative banks emerged as more resistant and efficient than joint-stock banks, which enabled them to improve their market share and increase their reserve capital. This subsequently became the keystone of the external restructuring that led to the transformation of cooperative banks into large universal banking groups. At the time, their competitive advantage relied mainly on a different approach to risk-taking, which was associated with their cooperative legal form and their specific governance model.However, the same features have clearly not prevailed during the financial phase of the most recent crisis. Whereas governance models in the banking sector have been deeply questioned, the original cooperative model has evolved differently within European countries, with a high level of hybridization in some and a very diffuse cooperative network in others. Some European cooperative groups have been damaged by the crisis, mainly because of the corporate and investment banking that formed part of their activity.Yet the recent crisis has revealed the importance of a resistant and resilient worldwide banking system and the diversity of legal forms and organizations could contribute to achieving this goal. In this paper, we assess the resistance and resilience of major joint-stock banks during the crisis and compare them to cooperative banks in different European countries and Canada. We conduct our analysis at an aggregated/consolidated level for these two categories of banks. Using different indicators (e.g., z-score, loans to the economy, return on equity) as dependent variables, we verify whether the cooperative form is synonymous with greater resistance or resilience, and whether the results may be explained by different organizational schemes in cooperative banking.
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Sirenko, Natalia, Olena Bodnar, and Nataliia Shyshpanova. "The Institutional Financial Market’s Infrastructure: Theoretical and Practical Aspects." Modern Economics 25, no. 1 (February 23, 2021): 130–35. http://dx.doi.org/10.31521/modecon.v25(2021)-20.
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Annotation. Introduction. The relevance of the study is conditioned to the significant influence of modern financial markets on the real economy and social development as a whole. Purpose. The purpose of the article is to generalize the theoretical provisions for determining the model of the financial market, highlighting the elements of the financial market infrastructure, analysis of the development of the domestic financial market. Results. We have done the characteristic of the current stage of the financial system’s and financial market’s development. Denotes the inhomogeneity of the existing theoretical approaches to the definition of a financial market and its structural classification, with emphasis on the importance of the institutional component. We have done the analysis of the different models (types) of the financial system and financial markets and the factors determining the use of these models in different countries. Background of selection of so-called mixed model of the financial system in Ukraine are systematized, when equal opportunities and rights, with no serious legislative restrictions and financial transactions are carried out banking and non-banking financial institutions. The current stage of development of the domestic financial market is characterized by a dominant share of universal banks, but the industry non-bank financial institutions has also received its development, which generally creates a competitive environment for all market participants. At the same time, certain non-bank credit institutions, recently appeared on the market and very dynamic, require special attention from the mega-regulator. Conclusions. In this regard, we have done the conclusion about the need to improve legislation in the field of financial markets and to ensure an acceptable level of control. Keywords: financial market; financial system; banking and non-banking financial institutions.
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K, Karthick, and Chitra S. "A Bilingual Numeral OCR System for Creating Uni-Lingual Digitized Numeral Document." Modern Applied Science 9, no. 13 (November 30, 2015): 148. http://dx.doi.org/10.5539/mas.v9n13p148.
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<p>The optical character recognition has been used in many applications such as dictionary generation, customer billing system, banking and postal automation, and library automation etc. The bilingual OCR system to make uni-lingual script helps us to reduce the requirement of two different OCR systems into a single OCR system for recognition of two different languages. This type of globalization helps the universal users of any language can read the text documents in their self-language if the bilingual documents are converted into uni-lingual document. In this paper, the image which contains printed Tamil and European numerals has been recognized using common OCR System and the Tamil numerals are converted into European numerals to globalize the document from a bilingual script into a uni-lingual document. The main objective of the work is to bring out the single numeral (European numerals) text document from the input image with two different numerals (Tamil and European Numerals). The Kohonen’s self-organizing map (SOM) based recognition system has been used for recognizing the numerals and recognized characters in bilingual numerals (Tamil and European Numerals) form are converted into Uni-lingual form (European numerals). This paper also discusses the various approaches used for OCR.</p>
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Gupta, Dinesh Kumar, and Dr Amaduddin Ahmad. "Pradhan Mantri Jan Dhan Yojana: An Initiative under Financial Inclusion." History Research Journal 5, no. 4 (September 25, 2019): 249–56. http://dx.doi.org/10.26643/hrj.v5i4.7742.
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Indian Government consistently makes its efforts towards inclusion of vulnerable section in organized financial system. This system might not only provide huge amount of cash flow to boost Indian economy but it could also help the government to facilitate inclusive growth through offering different services scheme like MNAREGA payment, pension, various subsidies etc. For the inclusive growth of the Indian economy, the GOI started Pradhan Mantri Jan Dhan Yojanain 2014. Financial inclusion is an innovative idea in India, which empowers the alternative new techniques to encourage the banking traditions and acts for reducing the poverty. Household coverage of this scheme is better in the district wise account opening report of Uttarakhnad state. We can say that PMJDY is playing a significant role in creating a universal platform for inclusive growth in India.
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Bruno, Elena, and Giuseppina Iacoviello. "Corporate governance and performance: A study of the reform of cooperative credit system in Italy." Corporate Ownership and Control 18, no. 1, Special Issue (2020): 370–81. http://dx.doi.org/10.22495/cocv18i1siart11.
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The aim of the paper is to identify and discuss the suitability of the corporate governance structure of the Cooperative Banking Group (CBG) for preserving the distinctive characteristics of the cooperative credit banks (CCBs), such as mutuality and localism, as well as for guaranteeing the levels of capitalization, respecting the overall performance objectives. The analysis methodology uses a case study. The paper provides some reflections on the possible impacts of a radical change in the Italian cooperative credit system following the 2016 reform. The pilot model needs further adjustments in itinere, based on rigorous empirical tests conducted to confer on it the characteristics of universal applicability in the context of the CCBs. The major contribution of the paper is evident from the resulting interpretative process; the analysis conducted on a case study allows us to highlight the importance of the organizational dimension in the CCBs; the performances achieved by these, although with some distinctions throughout the Italian territory, are the result of the adequacy of the governance structures and the corporate control functions, which, even when partly outsourced, are always rigorously inspired by the logic of interconnection among those responsible for the functions themselves
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De Jager, Phillip. "For banks, fair value adjustments do influence dividend policy." Southern African Business Review 19 (February 26, 2019): 157–90. http://dx.doi.org/10.25159/1998-8125/5812.
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5Most researchers who investigate the interplay between fair value accounting (FVA) and the financial crisis look at the time period during the crisis. This paper investigates a potential role for FVA prior to the crisis: If FVA led to increased accounting profits with the recognition of transitory gains through profit and loss during the boom, and if those increased profits provided the rationale for increased dividends, then bank capital became riskier prior to the crisis, and this would have made the system more prone to failure. A study by Goncharov and Van Triest (2011) found no empirical support for an increase in dividends in response to unrealised positive fair value adjustments to income. In contrast, when the setting is limited to only South African banks, this paper finds that South African banks did pay dividends from unrealised transitory gains. This finding is based on a combination of three strands of evidence: a panel regression of the annual dividends declared by the large South African universal banks that showed that those banks probably ignored the unrealised nature of FVA profits when dividends were determined; monthly data from the total South African bank system in a co-integrated regression that showed that unrealised fair value profits from the banking book raised the average level of bank profits materially; and simple descriptive statistics on distributions that showed that South African banks distributed a greater proportion of profits during the critical period of 2004 to 2008 when unrealised fair value profits from the banking book raised the level of bank profits. The finding that South African banks did pay dividends from unrealised transitory gains was also confirmed by bank representatives and the post-financial crisis disclosure of one of the South African banks.
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PRIKHNO, Iryna, Igor CHASTOKOLENKO, and Artem MARCHENKO. "THE PROBLEMS AND PROSPECTS FOR FINANCIAL INTERMEDIATION DEVELOPMENT IN UKRAINE." "EСONOMY. FINANСES. MANAGEMENT: Topical issues of science and practical activity", no. 4 (44) (April 2019): 92–100. http://dx.doi.org/10.37128/2411-4413-2019-4-11.
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In today's global economy, financial intermediation is an extremely powerful source of financial resources that can be used for investment purposes, since financial intermediaries can combine temporarily free (unused in the economy) financial resources of different business entities and direct them to those sectors of the economy that need investment. At the same time, financial intermediaries simultaneously provide the movement of financial assets and contribute to the development of the economy. It is proved that the objective need for a study of financial intermediation in Ukraine is to establish such a mechanism for the redistribution of financial resources in the country in order to achieve the maximum level of development of the economy both at the micro level and at the macro level. In Ukraine, the process of reforming the economy continues, including the financial market. The main participants in the financial market are financial intermediaries, which bring together buyers and sellers of financial assets. Activities of financial intermediaries in the financial market can be characterized by the fulfillment of the following main functions: accumulation of savings of economic entities; placing of attracted financial resources in the branches of economy; obtaining profit (own, as well as other economic entities); ensuring economic development. We believe that the main purpose of financial intermediaries is to create a balance in the financial market by matching interests and needs of all participants in the financial market and balancing demand and supply on financial resources. The most common is the division of financial intermediaries into banking institutions (banking sector) and non-bank financial institutions (non-banking financial sector). Currently, in Ukraine, banking institutions are represented by universal and specialized commercial banks of Ukraine, and non-bank financial institutions are represented by insurance and financial companies, credit unions and pawnshops, non-state pension funds and trust companies. According to statistics, the banking sector is larger in terms of assets, while the number of financial market participants is dominated by the non-banking financial sector. The analysis carried out shows an increase in the role of non-bank financial institutions in the financial market. Non-financial sector entities are dominated by financial companies. The article outlines the following main problems of the development of financial intermediation entities in Ukraine: the inconsistency of the financial system of Ukraine with the real sector of the economy, as a result of which the non-banking sector of the economy is not able to fully perform its main functions; the presence in the financial market of institutions that practically do not perform the functions assigned to them, thus creating significant risks for the normal functioning of the market; Ineffective legislation and an ineffective system for overseeing the activities of financial intermediaries, which gives rise to distrust of financial institutions; low level of financial literacy of the population. In order to overcome the problems identified and to provide an effective mechanism for the functioning of financial intermediary institutions in Ukraine, it is proposed to: introduce common rules of conduct in the financial market for banks and non-bank financial institutions, but taking into account the specifics of each type of financial intermediary; to intensify activity in the financial market of investment funds, insurance companies and non-state pension funds; Maximize the attraction of the non-banking financial sector to the development of the real sector of the economy; introduce a reliable mechanism for protecting the funds of the population and business entities; to create a service consulting center for the provision of services by non-bank financial institutions. We believe that the outlined directions for solving the problems of the development of financial intermediation create the basis for its further improvement and promote the activation of their effective activity.
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RUDA, Oksana. "BANKING ACTIVITY ON THE UKRAINIAN STOCK MARKET." "EСONOMY. FINANСES. MANAGEMENT: Topical issues of science and practical activity", no. 5 (45) (May 2019): 126–33. http://dx.doi.org/10.37128/2411-4413-2019-5-14.
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The theoretical bases of realization and development of banking activity in the stock market are generalized. The specifics of the operations of commercial banks in the stock market, as well as the directions of their activities, are considered. Banks in the securities market act as issuers, investors, and professional participants. Bank securities transactions in economically developed countries bring over 30% of revenue and are a priority investment destination. In Ukraine, the portfolio of securities generally has a small, compared to lending, share in the assets of the bank. However, the overall dynamics of securities transactions with banks is positive, they are an important component of diversifying the assets of the bank, a way to form own and replenish borrowed capital, a promising direction for the development of banking activities in general. The analysis of operations of banks with securities was carried out. The stock market is an important element of the economy of developed countries and an integral part of the financial market of each country. The stock market serves as a sphere of mobilization of financial capital and becomes of special significance. The feature of the development of stock markets in recent decades is the mechanism of globalization and the growth of various financial instruments and institutions. Due to certain historical and economic circumstances, on the securities market in Ukraine one of the main agents is commercial banks, which are universal enterprises that are able to perform all the variety of financial transactions, including in the stock segment. Securities act as a means to achieve more general objectives of banking. The attempts of banks to expand securities transactions are stimulated, on the one hand, by the high profitability of these operations, on the other hand - a relative reduction in the use of direct bank loans. Therefore, the research of banks activity in the Ukrainian stock market is extremely relevant and needs attention. At the present stage of market transformations in Ukraine, transactions of banks with securities, in comparison with world practice, are carried out at insufficient level. The main subjects of the stock market are its direct participants and institutions that provide operations on it. The first includes investors, brokers, dealers, managers. They are the direct participants of the operations and in most cases are responsible for the decisions made. Banking institutions are leading institutional players in the stock market. The current banking legislation allows domestic commercial banks to carry out a wide range of securities transactions: banks can act as issuers of their own shares, bonds, deposit certificates, bills of exchange and other securities, they can buy securities at their own expense , while pursuing a variety of goals, that is to act as investors. In addition, banks have the right to engage in intermediary transactions with securities, receiving a commission fee for this. The activity of banks in the securities market is that they carry out operations in this market in accordance with the general rules that apply to all participants in the securities market, but they must also adhere to additional rules set by the National Bank of Ukraine. In conducting transactions in financial markets, the bank must build relationships with clients on the principles of integrity, honesty, completeness of disclosure of necessary information, execution of orders of the client exclusively in his interests. By investing in the stock market, banks aim at: - profit from own investments in securities at the expense of interest received by the bank, dividends and growth of exchange rate of securities; - gaining profit from providing services to clients with transactions in securities; - expansion of the sphere of influence of the bank and attraction of new clients due to participation in the capital of enterprises and organizations. The result of the investment operations of the bank is the formation of portfolios of securities of different types. In general, one can speak of a positive trend in the activity of commercial banks in the securities market. Nevertheless, there are certain negative factors that restrain the process of securities transactions by banks, therefore, there is a need to develop ways to overcome them. Since the main problem is the underdevelopment of the stock market itself, the following tasks need to be addressed: increasing capitalization, liquidity and transparency of the stock market; improvement of market infrastructure and ensuring its reliable and efficient functioning; improvement of the mechanisms of state regulation, supervision on the stock market and protection of investors' rights; stimulation of further development of the stock market of Ukraine. In the stock market you can distinguish three conditional trends in the activities of a commercial bank: as an issuer, as an investor and as a professional its participant. An important indicator for the Ukrainian securities market is the achievement of the level of world financial markets, the increase in demand for shares of Ukrainian issuers from foreign funds, as well as the gradual transfer to the stock market of funds from the currency market and the market of bank deposits. The prospect of further research is an analysis of the dynamic characteristics of the banks' activity in the stock market, since the development of securities transactions may become one of the key elements in ensuring the integration of the Ukrainian banking system into the world economic space.
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KOLOHOIDA, Oleksandra V., Iryna V. LUKACH, Valeriia V. POIEDYNOK, and Volodymyr I. BOBRYK. "The Settlement Infrastructure of Ukrainian Stock Market: State and Directions for Reform." Journal of Advanced Research in Law and Economics 10, no. 2 (March 31, 2020): 565. http://dx.doi.org/10.14505//jarle.v10.2(40).17.
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The research defines the concepts of clearing and clearing activity. It explores the models of the clearing institutions’ organizational structure in EU countries. It also outlines the directions for the settlement and clearing infrastructure reform based on the diversification of the settlement and clearing functions. It should ensure the integrity of the stock market, the reduction of risks, the creation of an efficient and transparent system for the execution of transactions with securities; reduction of expenses of market participants; acceleration of payment terms for operations with securities and process of registration of property rights; differentiation of responsibility at different stages of performance of transactions. The author has defined the legal status of the Financial Settlements Center as a banking institution with a special legal personality of the conducting monetary settlements under transactions concerning securities and other financial instruments, made on the stock exchange and outside the stock exchange, if payments are made according to the principle of ‘supply against payment’. The study shows the need for the universal model of settlements to serve all the exchange markets. We offer to demonopolize the market of clearing services and to provide access for international clearing institutions. We also suggest transferring the settlement function to the Central Depositary and the clearing function – to clearing institutions.
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Berezhna, Lesya, and Oksana Snytuk. "RATING ASSESSMENT IN MAKING FINANCIAL DECISIONS BY METHODS OF MULTI-CRITERIA ANALYSIS." Proceedings of Scientific Works of Cherkasy State Technological University Series Economic Sciences, no. 60 (April 19, 2021): 60–71. http://dx.doi.org/10.24025/2306-4420.1.60.2021.227591.
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The article attempts to reveal the problems of decision support processes by consumers of banking services. Choosing the best financial strategy always requires significant mathematical tools. The comparison of methodological tools for making management decisions has allowed us to identify groups of methods. The most common among them are game theory, multidimensional ranking and multi-criteria analysis, a fairly modern method exploring alternative options using multi-objective optimization without certain shortcomings of the first two methods. The main purpose of the study is to adapt the methods of multi-criteria analysis and to form universal tools to substantiate management decisions on the optimal financial strategy.
We suggest a methodological approach based on the use of multi-criteria assessment tools, for the rating assessment of possible alternatives in making financial decisions, namely Smart method to determine the weighting factors of the evaluation criteria and TOPSIS method to assess the optimum banking institution from the perspective of bank depositors. The article pays special attention to highlighting and describing the hierarchy of the task of choosing a depository financial institution and the main features of strategic alternatives. To assess the banks’ ratings we set up the system of generalized criteria including three groups, each of which by means of decomposition is divided into 11 partial criteria, which have monotonically increasing target functions (except for "additional associated costs"). Initial data in the form of a constructed "decision matrix" according to certain particular criteria are formed on the basis of statistical and expert information. We have chosen the end of 2020 ‒ beginning of 2021 as the research period for utilizing up-to-date information.
The research of rating assessment in the article is carried out in the following logical sequence: analysis of existing methods of financial decision-making support and the significance of modern methods of multi-criteria analysis among them, a thorough problem statement from the perspective of the banks’ services consumers, singling out the list of alternatives and their estimation criteria, substantiating the values of the weighting coefficients of generalized and particular criteria by the SMART method, practical application of the TOPSIS method algorithm to select the best alternative and recommendations for making a financial decision. Therefore by means of mathematical calculations the article justifies the choice of the optimum strategy by a consumer of financial services of the banking institution offering the most attractive conditions for opening an account.
Thus, the study empirically confirms and theoretically proves that the use of modern economic and mathematical methods, in particular the TOPSIS method, helps the consumer of banking services in supporting of making well-considered and optimum management decisions, taking into account the previously set evaluation criteria.
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Alrabba, Hussein Mohammed, and Muhannad Akram Ahmad. "The role of enterprise resource planning (ERP) system in advancing the country of Jordan towards international standard accounting practices and accounting mechanisms." Risk Governance and Control: Financial Markets and Institutions 7, no. 2 (2017): 76–94. http://dx.doi.org/10.22495/rgcv7i2art8.
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The paper seeks to counter several functionalities of the Enterprise Resource Planning system as brought up in the title. Essentially, the system’s role will be viewed in the perspective of regenerating better accounting practices in an advanced business setting and considering the size of the enterprise. However, a satisfying part of the paper attempts to bring out a clear depiction of the Enterprise Resource Planning paradigm/system as the main tool to take any credit made in the business accounts mechanics and base criteria. Subsequently, through this paper, all the roles of the tool at hand in enhancing accounting practices will substantially be played up. This research uses Jordan as the suitable setting for the realization of ERP’s comprehensive capabilities. An empirical research on Jordanian mining industry is used for sampling results as well as a theoretical critical review on the organisations adoption of the ERP system on their accounting systems (Naash & Khamis, 2009). Similarly, the Jordanian banks are briefly highlighted on a theoretical mode in phase of testing the both the alternative and null hypothesis. The empirical study is analyzed using a custom bucketing methodology on measuring the trends in the open-ended questions and attributed to efficiency. The latter are the variables tested on the open-ended questions. On the other hand, the closed questions are subjected to the analysis of variance (ANOVA) where the variances between the “yes” and “no” responses is checked. The two analytical approaches of the questionnaires yields are interrelated because of the homogeneity of the question types. Objectively, the null hypotheses Hₒ is tested by implying on the risk factors and challenges facing the system implementation in the organization; it is from the corresponding findings where the research infer its recommendations. The alternative hypotheses Hɪ implicates on the massive encroachments of ERP on the Jordanian Accounting sector. The proposition is thusly tested by the overall results from bucketing and ANOVA of Jordanian Bromine and Arab Potash companies conducted surveys. The research methodology quantitatively utilized Jordanian Bromine Company and Arab Potash Company companies to test whether the was any role played by Enterprise resource planning, commonly abbreviated as (ERP), system in advancing the country of Jordan towards universal standard accounting practices and accounting mechanisms. Notably, the data as per two studies relied on for feedback on the implementation and application of the ERP paradigm/system on the structure of the Jordanian Bromine Company and Arab Potash Company companies. The final result proved true the deduction that the overall ERP structure (Enterprise Resource Planning System) greatly impacted the accounting mechanisms and standards in the Jordanian organizations. Recommendations aimed at integrating different sectors in Jordan, including the Jordanian Bromine Company and Arab Potash Company companies with the banking sector and financial institutions so that the entire system can work collaboratively under the protocols, rules and requirements of the universal standard accounting practices and accounting mechanisms.
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Vasylenko, Oleksandr. "Electronic payment system as an object of criminal encroachment." Yearly journal of scientific articles “Pravova derzhava”, no. 32 (2021): 515–22. http://dx.doi.org/10.33663/0869-2491-2021-32-515-522.
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Introduction. In recent years, the number of payment transactions carried out using electronic payment systems has grown rapidly. Despite the steady growth of electronic payments among both individuals and legal entities, a number of problems remain unresolved, which primarily include ensuring the security of electronic payment transactions by the state at the legislative level and the development of effective means of combating and preventing crime. in the specified area. The current criminal legislation contains certain rules that can ensure the security of the electronic payment system. But insufficient research of some theoretical aspects of criminal liability for this type of criminal offenses significantly reduces the effectiveness of criminal law protection of this area of life. One such aspect is the theoretical uncertainty of the object that falls under the protection of criminal law. In particular, there is a lack of theoretical definition of the system of electronic payments in terms of the object, which is placed under the protection of criminal law. The aim of the article. The importance of the researched problems and the need to increase the efficiency of the current Criminal Code of Ukraine determine the purpose of this study, which is to define the concept of electronic payment system as an object of criminal protection. Results. Criminal offenses committed in the system of electronic payments belong to a qualitatively new type of mercenary crime in the banking sector, which is directly related to the modernization of economic relations in society. They cover the sphere of economic interests of the state as a whole, individual legal entities, as well as individuals who use the electronic payment system in their own interests. There is a need to develop a universal criminal law terminology in order to improve the regulatory framework governing relations in the field of electronic payments. Unfortunately, the definition of electronic payment system (electronic payment system) has not been properly developed either in the financial and economic sphere or in jurisprudence, and the existing definitions are not clear and contain a list of essential features of such systems. Conclusions. The system of electronic payments as an object of criminal encroachment - is regulated by law the order of public relations for the transfer of funds between participants in the payment system through a special payment mechanism, which is a set of methods, tools, methods to make calculations for effective and safe transfer of funds from the payer to the recipient in time and space and regulated by a special law and payment rules, are implemented on the basis of the contract against which the criminal encroachment is directed. This definition indicates the specifics of the electronic payment system as an object of crime, and also contains a list of all the most important features of this system, which will further contribute to the correct classification of crimes committed in this area.
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Bugeja, George. "Universal banking and the return of ‘glass-steagall’." Journal of Governance and Regulation 2, no. 3 (2013): 84–97. http://dx.doi.org/10.22495/jgr_v2_i3_c1_p1.
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The article aims to consider the arguments for and against universal banking and considers universal banking within different systems of law. The author also provides insight into the discussions on the changes to the banking regulatory infrastructure and the implications which this may have.
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VASYLIEV, Oleksii. "SCORING MODELING BASED ON NEURAL NETWORKS FOR DETERMINING A BANK BORROWER'S RATING." Economy of Ukraine 2020, no. 10 (October 25, 2020): 54–62. http://dx.doi.org/10.15407/economyukr.2020.10.054.
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The problem of applying neural networks to calculate ratings used in banking in the decision-making process on granting or not granting loans to borrowers is considered. The task is to determine the rating function of the borrower based on a set of statistical data on the effectiveness of loans provided by the bank. When constructing a regression model to calculate the rating function, it is necessary to know its general form. If so, the task is to calculate the parameters that are included in the expression for the rating function. In contrast to this approach, in the case of using neural networks, there is no need to specify the general form for the rating function. Instead, certain neural network architecture is chosen and parameters are calculated for it on the basis of statistical data. Importantly, the same neural network architecture can be used to process different sets of statistical data. The disadvantages of using neural networks include the need to calculate a large number of parameters. There is also no universal algorithm that would determine the optimal neural network architecture. As an example of the use of neural networks to determine the borrower's rating, a model system is considered, in which the borrower's rating is determined by a known non-analytical rating function. A neural network with two inner layers, which contain, respectively, three and two neurons and have a sigmoid activation function, is used for modeling. It is shown that the use of the neural network allows restoring the borrower's rating function with quite acceptable accuracy.
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Viano, Emilio C. "AN AMERICAN DILEMMA: THE FLOW OF TRADE VERSUS THE FLOW OF PEOPLE IN NAFTA." Denning Law Journal 22, no. 1 (November 26, 2012): 87–115. http://dx.doi.org/10.5750/dlj.v22i1.355.
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The North American Free Trade Agreement (NAFTA) of 1994 aims at creating the legal, political, and business conditions for a freer circulation of goods, capitals and services in North America. However it gives scant attention to the mobility of workers. The basic premise of this paper is that globalisation of trade and the universal diffusion of human rights have evolved and progressed side by side, even though with difficulty and reluctantly, and that the regional liberalisation of trade must be deeply interwoven with issues related to socio-economic rights to be ultimately and durably successful. This paper’s major questions are: How does NAFTA address labour mobility? Does NAFTA neglect, oppose or support the free movement of people across its borders? Does the agreement deal with labour mobility in a clear and definite manner or does it ignore it and give it short shrift? Should NAFTA support the liberalisation of immigration within its area as a long term objective, as part of a deeper and broader regional integration, conditioned on considerable reforms by its Member States, especially Mexico’s legal system, and energy, tax and banking policies, among others? Is the free movement of people needed to be truly successful and provide economic security, survival and prosperity for its member countries in view of vastly changed economic and trade conditions since its inception? This paper first traces the history of the drafting of NAFTA. Then it examines what NAFTA means for labour mobility within the complex interaction between an economic colossus like the United States and a developing country like Mexico, also taking into account current migration trends. In this section, the paper also covers the liberalisation of the mobility of labour (albeit limited) brought about through administrative regulations. Interspersed with this there is a discussion of what should be a mutually reinforcing relationship between international free trade and social policy.
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Wixforth, Harald. "Das Universalbanksystem – Ein Erfolgsmodell auf den Finanzmärkten?" Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook 58, no. 2 (November 27, 2017): 583–612. http://dx.doi.org/10.1515/jbwg-2017-0021.
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Abstract The recent debate on the structure of financial systems created harsh criticism of the business policy of the great universal banks. Economists as well as prominent experts in banking demanded a strict control of their business or even their liquidation. On the other hand, the banks themselves, together with representatives of economic interest groups, defended the status quo. Their argument is that the universal banking systems created great benefits for the economy in several central European countries during the last 150 years. Historical evidence, however, reveals that this is not true. Universal banks were not an instrument to stabilize economies in times of crises. On the contrary, crises were aggravated by their business policy on several occasions. In sum, historical analysis shows that the actual business operations and influence of universal banks in modern economies have to be scrutinized closely.
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Chmielarz, Witold, and Konrad Łuczak. "Mobile Banking in the Opinion of Users of Banking Applications in Poland." Applied Mechanics and Materials 795 (October 2015): 31–38. http://dx.doi.org/10.4028/www.scientific.net/amm.795.31.
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The objective of this article is to present and analyze the findings of a survey concerning mobile banking services offered by commercial banks to individual clients. The present study conducted by the authors examines the use of banking products and services offered in the mobile channel and the opinions of individual customers on the subject. The findings presented in the article focus on mobile banking applications offered by universal banks in Poland available for mobile devices running the Android, iOS and WindowsPhone operating systems. The paper presents general assumptions of the study, description of the methodology and research sample as well as the analysis of the obtained findings and their discussion. The quantitative study was conducted on a selected sample of respondents with the application of a standardized evaluation method used for the assessment of selected banking products and services.
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KIZYMA, Tetiana, and Yurii KHAMYHA. "FINANCIAL FRAUD: THEORETICAL CONCEPTUALIZATION AND ECONOMIC BASIS." WORLD OF FINANCE, no. 2(59) (2019): 109–23. http://dx.doi.org/10.35774/sf2019.02.109.
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Introduction. Intensive development of the world economic processes, contagion of globalization trends, growth of banking and other financial and credit services have led to increase in role of finance in modern life. In addition, an active use of the latest information technologies, cashless form of settlements has led to growth of various types of fraud in the financial sector. Therefore, study of theoretical and conceptual foundations of financial fraud and identification of its most important features is extremely relevant under today’s conditions of development of Ukrainian economy. Purpose of the research is to study the theoretical and conceptual foundations of financial fraud, primarily in terms of modern financial science and distinction between moral and psychological, economic and legal aspects of this phenomenon. Results. In spite of the fact that the concept of “financial fraud” gradually becomes more used both in Ukrainian scientific environment (even under the condition of absence of its clear legal regulation) in media and the Internet, as well as for objective and systemic research of problems related to financial fraud it is necessary to clarify the essence and content of this concept. On the basis of the works of domestic and foreign scientists, the author’s definition of financial fraud as a set of economic relations, implemented by legal entities or individuals (usually without violent actions), is in the process of formation, distribution and use of financial resources (income) by fraud or abuse of trust or service position for the purpose of obtaining economic and / or other benefits (personal, corporate or in favour of the third parties). Financial fraud as a phenomenon reflects the cash flows between the subjects of financial relations (the fraudster and the victim), which results in receipt of economic benefits by fraudster and losses – a victim of fraudulent activities. At present, financial fraud is a complex, multifaceted economic phenomenon that is based primarily on a psychological basis (it is thirst for easy money and unawareness that are the universal human weaknesses that “feed” financial fraud). In addition, the imperfect legal system contributes to the fact that various fraudulent schemes continue to be actively pursued in the state. Therefore, only a thorough and systematic study of financial fraud as an economic, antisocial, unlawful (and often supranational) act will contribute to the formation of necessary conditions and the development of effective measures to minimize it under modern conditions. Psychological, economic and legal nature of financial fraud is characterized. On the basis of official statistics, the dynamics of number and structure of crimes, related to financial fraud in Ukraine in 2015–2018, has been analyzed and highlighted at high level of their latency. The emphasis is made not on the important role of a state in overcoming this negative phenomenon. Conclusions. At present, financial fraud is a complex, multifaceted economic phenomenon that is based primarily on psychological basis (namely, thirst for easy money and unawareness are the universal human weaknesses that “feed” financial fraud). In addition, imperfect legal system contributes to the fact that various fraudulent schemes continue to be actively pursued in the state. Therefore, only a thorough and systematic study of financial fraud as an economic, antisocial, unlawful (and often supranational) act will contribute to the formation of necessary conditions and development of effective measures to minimize it under the modern conditions.
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Halabi, Abdel, and Ashraf Kazi. "The Influence of Quran and Islamic Financial Transactions and Banking." Arab Law Quarterly 20, no. 3 (2006): 321–31. http://dx.doi.org/10.1163/026805506778388836.
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AbstractThe Quran is the holy book of the followers of Islam, where simple solutions to the day-to-day problems of life are discussed in detail. Whatever the nationality of a Muslim, the Quran and Islamic prayers remain in a single universal language called "Arabic". Thus, uniformity has been maintained throughout the world from the days of the Prophet Mohammed, in the seventh century to the twenty-first century. Financial transactions and banking based upon Shariah are growing rapidly today. Islamic banking has been widely accepted in many countries such as Pakistan, Malaysia, Brunei, and Saudi Arabia, and are an increasing presence in Canada and Australia. Islamic banking and financial transactions are different from conventional banks, and this has led to some criticisms. After tracing the history of Islamic Banking some of these criticisms are discussed. While Islamic Banking does face some challenges, it continues to grow, and this growth reflects the desire for social, political and economic systems based on Islamic principles.
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Shkarlet, Serhiy, Valeriia Prokopenko, and Maksym Dubyna. "DIRECTIONS OF DEVELOPMENT OF THE FINANCIAL SERVICES MARKET OF UKRAINE." Baltic Journal of Economic Studies 4, no. 5 (February 11, 2019): 412. http://dx.doi.org/10.30525/2256-0742/2018-4-5-412-420.
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Development of the financial services market is an important component of the national economy’s development. Within this market, credit and investment resources are formed, which are the basis of economic development of the real economy sector of the state. It is this that determines the importance of creating conditions for improving the efficiency of financial institutions, which become intermediaries between persons who have free funds and those economic entities that they need. The outlined justifies the relevance of the topic. Consequently, taking into consideration the objective of the study, the following aim of its implementation was set: to identify and substantiate the main determinants of the development of the financial services market in Ukraine. To achieve this goal, the following tasks were set and solved: to identify the main, most important, measures of transformation of the environment of financial institutions functioning; to substantiate the essence of such measures and the peculiarities of their implementation; to specify basic actions within the limits of separate determinants of the financial services market development, to describe their applied character. Method. In the course of the research, a range of different scientific methods was used. Among the general techniques, it is necessary to allocate methods of observation, comparison, abstraction. It is advisable to include the method of economic analysis, synthesis, system approach, content methods, and event analysis in specific research methods. Results. Universal priorities of financial services markets development in different countries are determined and systematized, the analysis of which made it possible to investigate perspective determinants of the development of such a market in Ukraine, peculiarities of their introduction into the functioning of the financial services sphere are described. Among these measures are the following: increase in the stability of financial institutions, increase the transparency of the functioning of producers and consumers of financial services, raising the level of financial literacy in society, reforming the state regulation system of the activities of financial intermediaries, the formation of the trust infrastructure system. Taking into consideration the received scientific outcomes, the justification of peculiarities on the implementation of these priorities in the system of the financial services market functioning in Ukraine is conducted. Practical implications. The research results obtained in the course of the research implementation regarding the possibilities of changing the financial services market for improving the efficiency of financial institutions work have an applied character, and their implementation will make it possible to form a new environment for the functioning of such economic actors. This will facilitate the transformation of financial resources to increase the formation of investment and loan funds. The results obtained can be used by public authorities that regulate the activities of financial institutions in the process of developing new strategic documents for the development of the financial services market in Ukraine. Value/originality. The conducted research is relevant, considering the significant impact of the financial services market on the development of the national economy, the proposed measures for the development of such a market are applied and can be used by public authorities in the regulation of the activities of financial institutions. This research has been conducted within the framework of the scientific work implementation Department of Finance, Banking and Insurance, Chernihiv National University of Technology, Ukraine on the following topics: “Financial stability of economic systems in crisis conditions of management” (No. 0115U001149) and “Development of financial intermediaries in the turbulent conditions of the national economy’s functioning” (No. 0115U001149).
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Fernández Olit, Beatriz, and Marta De la Cuesta González. "Evaluación de impactos ambientales y sociales del negocio de banca comercial en Europa durante el periodo 2006-2010." Studies of Applied Economics 32, no. 2 (March 4, 2020): 567. http://dx.doi.org/10.25115/eea.v32i2.3224.
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This article analyses the technical and financial responsibilities of the banking sector, and reflects on their relation with the definition of social corporate responsibility applied exclusively to commercial banking activities. Mainstream assessment and reporting systems regarding external or commercial CSR show an insufficient capacity to integrate and evaluate the social and environmental impacts originated during the recent financial crisis. Therefore, after constructing a revised and completed assessment model, it has been applied to two different sustainability databases for the period 2006-2010. As a result, we have obtained both indexes of European banks regarding their external CSR performance. Despite obtaining a limited jointly coverage of total model by both databases, the descriptive analysis of results shows differences between the general characteristics of entities (size and banking specialization) and their external CSR rating. Thus, smaller banks and mainly oriented to financial intermediation show better performance than investment and large, universal banks, questioning the social and environmental sustainability of such model of banking.
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Wallot, Jean-Pierre. "Discours du président : Frontière ou fragment du système atlantique : Des idées étrangères dans l’identité bas‑canadienne au début du XIXe siècle." Historical Papers 18, no. 1 (April 26, 2006): 1–29. http://dx.doi.org/10.7202/030897ar.
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Abstract A group's collective identity is a complex phenomenon which is always difficult to delineate and understand, but however one does so, historical antecedents must be a crucial element. This year's "Presidential Address" explores this important question, which was raised in an earlier presidential discourse. On that occasion, Robert Craig Brown noted that "historical knowledge is an essential component of a nation's sense of cultural identity. ' ' Professor Wallot elucidates this theme: without a concept of what you have been, you cannot know who you are, or what you can be. As one of the characters in Joy Kogama's novel Obasan observes, "you are your history. If you cut off any of it, you're an amputee. ' ' Professor Wallot sets out to explore this problem by examining the Lower Canadian identity between roughly 1780 and 1815, in order to place the colony within the context of the culture of the North Atlantic world. Though Quebec/Lower Canada has often been portrayed as a closed society, relatively homogenous in its attitudes, cut off from its intellectual roots, and somewhat unsympathetic to new ideas, study of aspects of its culture suggest otherwise. The colony had access to contemporary international thought, in all of its variety, and was more than a passive observer in the clash of ideas and the rhythms of cultural change then current in Europe. In arriving at these conclusions, the author presents a two-part defence; in the first part of his paper, he examines the means of cultural diffusion, the role of printed materials in the formation of attitudes and the rapidity with which European ideas were transferred to Quebec. He concludes that, when one removes the time required to transmit these ideas, the colony was aware of, and deeply involved in, the intellectual cross-currents of the North Atlantic world. The author then proceeds to test the validity of this point by examining three quite different aspects of public culture: the discussion aroused by the fear of overpopulation and consequent impoverishment; the banking system and money, and finally, parliamentary theory and practice. In each of these fields, Professor Wallot concludes, the colony's cultural élite, at the very least, was aware of, and responsive to, recent European thought. In a society which boasted nearly universal literacy, this conclusion suggests a culture far more up-to-date than previous work would lead us to expect.