Financial Services and the GATS in the GCC: Problems and Prospects

2014 ◽  
Vol 10 (3) ◽  
Author(s):  
Hatem Samman ◽  
Sheikh Shahnawaz
Keyword(s):  
Risk Taking ◽  
Financial Services ◽  
Banking Sector ◽  
Oil Prices ◽  
Policy Impact ◽  
Outside Option ◽  
The Public ◽  
Credit Availability ◽  
Tradable Sector ◽  
Opening Up

AbstractOne objective of the General Agreement on Trade in Services (GATS) of the World Trade Organization is to achieve financial services liberalization in member countries. We assess the implications of such liberalization commitments in the banking sectors of the Gulf Cooperation Council (GCC) countries. After providing an overview of the GCC banking sector, we discuss the GATS provisions relevant to financial services. Liberalization commitments and exemptions of these countries under the agreement are also presented. Using the observation that spikes in oil prices are accompanied with expansion in credit availability, we develop a simple model to formally explore the consequences of opening up the banking sector. Our analysis considers the possible policy impact on the domestic banking industry as well as a non-tradable sector that is driven by local entrepreneurship. Our investigation suggests that while high oil prices facilitate credit availability, they also enable governments to more easily and better subsidize employment in the public sector. This more attractive outside option then serves as a deterrent to risk-taking entrepreneurs which could stunt the growth of the non-tradable sector. A liberalized banking sector could mitigate this outcome as well as other institutional inefficiencies in lending, but also brings with it the vulnerability to global financial crises.

German banking sector will see greater consolidation

2018 ◽  
Keyword(s):  
Risk Taking ◽  
Financial Services ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Content Type ◽  
The Public ◽  
Savings Banks ◽  
Distinctive Structure ◽  
The Global Financial Crisis ◽  
The Eu

Subject Germany’s banking sector. Significance The German banking sector emerged from the global financial crisis largely unscathed. Its distinctive structure, underpinned by prudent risk-taking and heavy public sector involvement, was key in supporting Germany’s remarkable economic recovery from the crisis -- but it is slowly changing. Impacts Consolidation will erode the political heft of the banking sector, especially that of the public savings banks. A politically weakened banking sector might make banking reform at the EU level somewhat easier to achieve. Brexit will put financial regulators under pressure; officials will struggle with the scale of UK financial services relocating to Germany.

scholarly journals Service Quality and Customer Satisfaction: A Comparative Study of an Indian Public VS Private Bank

2020 ◽  
Author(s):  
Dharmendra Singh
Keyword(s):  
Customer Satisfaction ◽  
Service Quality ◽  
Private Sector ◽  
Financial Services ◽  
Banking Sector ◽  
Public And Private ◽  
The Public ◽  
Public Sector Banks ◽  
Private And Public ◽  
Public And Private Sector

This study focuses on the service quality and customer satisfaction among the private and public sector banks in India. Today customers are supposed to have awareness about the financial services provided by the banking sector. An attempt has therefore, been made in this paper to quantify the ‘awareness level’ of the customers and analyze the ‘service quality experience’ of the customers from their banks. The study has been carried out to compare the service quality experienced by customers of the public and private sector banks and to study the link between service quality and customer satisfaction. For that reason a well structured questionnaire was used to collect the views of customers on various service dimensions and the satisfaction of the customers regarding the services offered by the public and private sector banks. Various statistical tools like ANOVA, Factor Analysis and Multiple Regressions were used for analyzing the data collected on five service dimensions of SERVQUAL and satisfaction of customers. The results indicate that the private sector bank was better in terms of providing services and creating awareness about their products and services. The study also proves that an increase in service quality will most likely lead to customer satisfaction.  

Bank of America: Consumers Fight Back

2016 ◽  
pp. 1-12
Author(s):  
Russell Walker
Keyword(s):  
Financial Services ◽  
Large Scale ◽  
Banking Sector ◽  
Public Affairs ◽  
Legal Action ◽  
Wall Street ◽  
The Public ◽  
Competing Interests ◽  
Public Critique

On October 6, 2011, President Barack Obama publicly scolded Bank of America for developing a new revenue stream: a $5 monthly fee for all Bank of America debit card holders, which the bank had announced a month earlier. It was a strategy for replacing lost “swipe fee” revenue following the passage of the Dodd-Frank Act and accompanying Durbin Amendment, which capped swipe fees at 21 cents per transaction. This was the culmination of three tumultuous years for the world's largest financial services firm, but would not be the end of its public affairs challenges. The president's public critique of Bank of America came in response to and helped exacerbate consumer anger about the bank's monthly fee, changes across the banking sector, and general discontent with Wall Street. Bank of America's situation was complicated further by ongoing legal action following acquisitions of Merrill Lynch and Countrywide, which hurt the firm's shareholders and led to large-scale employee layoffs. In this case study, students will be challenged to analyze how Bank of America could have better managed the competing interests of different stakeholders, including shareholders, employees, regulators, customers, and the public.

scholarly journals ‘Walk softly and carry no stick’: Culture, opportunity and irresponsible risk-taking in the Irish banking sector

2019 ◽  
Vol 17 (1) ◽  
pp. 86-105
Author(s):  
Joe McGrath
Keyword(s):  
Risk Taking ◽  
Financial Services ◽  
Banking Sector ◽  
Political Support ◽  
Differential Association ◽  
Partial Explanation ◽  
Opportunity Theory ◽  
Services Sector ◽  
Political Processes ◽  
Differential Association Theory

This article examines the generative conditions giving rise to the commission of irresponsible risk-taking in the Irish banking sector using differential association and opportunity theories. This framework is used as a lens to demonstrate how, at both an individual and a group level, ideas, beliefs, expectations, rewards and punishments had a causal impact on banking culture, where competitive and aggressive risk-taking was prioritised, networked and routinised. Though differential association theory and opportunity theory are usually treated as separate (and somewhat opposing) perspectives, this article offers a framework that integrates them both. It employs differential association only as a partial explanation, explaining that wrongdoing does not occur only where there is an excess of ‘definitions’ favouring it; it occurs when capable guardians are removed or undercut. The opportunity perspective is adopted to examine how the absence of credible supervision and enforcement in the financial services sector created situational conditions that facilitated wrongdoing. Moreover, opportunity theory is valuable in this context because it explains that the extent to which protection is offered often depends on political processes to create a structure and culture of enforcement and prosecution of offenders. Prior to the crisis, Ireland was championing light-touch regulation, advertising itself as an attractive place to do business, in which there was insufficient political support for tough sanctions to address financial wrongdoing.

The Systemic Effects of Prudential Regulation Toughening:The Results of a Stress-test for Russian Banks

2012 ◽  
pp. 4-31 ◽  
Author(s):  
M. Mamonov ◽  
A. Pestova ◽  
O. Solntsev
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Stress Test ◽  
Credit Market ◽  
Capital Adequacy ◽  
Government Support ◽  
Government Ownership ◽  
Prudential Regulation ◽  
The Government ◽  
The Stability

The stability of Russian banking sector is threatened by three negative tendencies - overheating of the credit market, significant decrease of banks capital adequacy ratios, and growing problems associated with banks lending to affiliated non-financial corporations. The co-existence of these processes reflects the crisis of the model of private investments in Russian banking sector, which was observed during the last 20 years. This paper analyzes the measures of the Bank of Russia undertaken to maintain the stability of the banking sector using the methodology of credit risk stress-testing. Based on this methodology we conclude that the Bank of Russias actions can prevent the overheating of the credit market, but they can also lead to undesirable effects: further expansion of the government ownership in Russian banking sector and substitution of domestic credit supply by cross-border corporate borrowings. The later weakens the competitive positions of Russian banks. We propose a set of measures to harmonize the prudential regulation of banks. Our suggestions rely on design and further implementation of the programs aimed at developing new markets for financial services provided by Russian banks to their corporate and retail customers. The estimated effects of proposed policy measures are both the increase in profitability and capitalization of Russian banks and the decrease of banks demand for government support.

Employees Attitude towards E-Learning in Banking Sector -An Empirical Study of Shivamogga District

2019 ◽  
Vol 118 (10) ◽  
pp. 88-106
Author(s):  
Dr.Mamatha. S.M ◽  
Mr.Panduranganagouda Honnali
Keyword(s):  
Banking Sector ◽  
Employee Performance ◽  
Private Bank ◽  
Public And Private ◽  
The Public ◽  
Body Of Knowledge ◽  
E Learning ◽  
Banking Structure ◽  
Bank Employees ◽  
Methods Of Learning

E-learning has become a global phenomenon and it is the central theme of many industries and organizations for the additional method of training which can complement traditional methods of learning. The practices of E-learning and Learning management system (LMS) in the banking sector make the drastic changes in the employee performance and their knowledge regarding job in the modern banking structure. This study provides a comprehensive body of knowledge about LMS and e-learning, in general, within the public and private bank in India. The main objective of this paper to understand and analyze the attitude of employees towards E-learning practices in banking sector in Shivamogga district. The data was analyzed by using exploratory factor analysis, based on the responses received from a random the sample 50 of the bank employees working in the private sector banks.

Beyond Anthropology A level: opening up anthropology education

Journal ◽  
2016 ◽  
Vol 6 ◽  
Author(s):  
Emma Ford
Keyword(s):  
Social Anthropology ◽  
The Public ◽  
Local Schools ◽  
The Subject ◽  
Opening Up

The Anthropology A-level has achieved a great deal despite its failure to be redeveloped as a qualification. In this article I discuss what this means and why this matters for anthropology education. I show how the Anthropology A level was just one component of a much wider movement to engage new audiences with anthropology. I demonstrate how the A-level brought biological and social anthropology into schools and colleges that had never offered the subject before. The A-level diversified the community of anthropology educators and increased links between local schools, colleges and university anthropology departments. The campaign to widen access to anthropology for students, teachers and the public continues to grow, regardless of the AQA decision.

scholarly journals The Disclosure Decision of Foreign Clinical Trials in China: Moderating Effects of Firms’ Contingencies

SAGE Open ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 215824402110163
Author(s):  
Tariq H. Malik ◽  
Chunhui Huo
Keyword(s):  
Clinical Trial ◽  
Clinical Trials ◽  
Risk Taking ◽  
Academic Community ◽  
Moderating Effects ◽  
The Public ◽  
Industrial Enterprises ◽  
Unit Increase ◽  
Clinical Trial Results ◽  
Clinical Trial Activity

Result disclosure of clinical trial posts a conflicting logic between private secrecy and public interest. Despite ethical and legal requirements for disclosing clinical trial results, clinical trials’ sponsors tend to withhold the results. We explored the location, timing, and rationale behind the withheld clinical trial results. Based on the entrepreneurial orientation (EO) perspective, we propose that organizational EO contingencies moderate the disclosure decision. We used the completed clinical trial projects in China by foreign and domestic sponsors. First, we found that a unit increase in the sponsor’s experience can increase the disclosure about 1.01 times. Second, we found that industrial enterprises disclose results about 3.7 times more than universities do. Third, we found that foreign clinical trial projects in China tend to disclose 3.9 times more than domestic projects. We link these findings to two types of audience. First, we inform the academic community on the theory and empirics regarding risk-taking behavior in the biopharmaceutical industry’s clinical trial activity. Second, we address the general audiences concerned about the ethical and socioeconomic wellbeing of the public.

COVID -19 and Indian Financial Markets: A Review

2020 ◽  
Vol 16 (02) ◽  
pp. 1-8
Author(s):  
Kamaldeep Kaur Sarna
Keyword(s):  
Financial Markets ◽  
Financial Institutions ◽  
Financial Services ◽  
Stock Markets ◽  
Global Economy ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Management Strategies ◽  
The Impact

COVID-19 is aptly stated as a Black Swan event that has stifled the global economy. As coronavirus wreaked havoc, Gross Domestic Product (GDP) contracted globally, unemployment rate soared high, and economic recovery still seems a far-fetched dream. Most importantly, the pandemic has set up turbulence in the global financial markets and resulted in heightened risk elements (market risk, credit risk, bank runs etc.) across the globe. Such uncertainty and volatility has not been witnessed since the Global Financial Crisis of 2008. The spread of COVID-19 has largely eroded investors’ confidence as the stock markets neared lifetimes lows, bad loans spiked and investment values degraded. Due to this, many turned their backs on the risk-reward trade off and carted their money towards traditionally safer investments like gold. While the banking sector remains particularly vulnerable, central banks have provided extensive loan moratoriums and interest waivers. Overall, COVID-19 resulted in a short term negative impact on the financial markets in India, though it is making a way towards V-shaped recovery. In this context, the present paper attempts to identify and evaluate the impact of the pandemic on the financial markets in India. Relying on rich literature and live illustrations, the influence of COVID-19 is studied on the stock markets, banking and financial institutions, private equities, and debt funds. The paper covers several recommendations so as to bring stability in the financial markets. The suggestions include, but are not limited to, methods to regularly monitor results, establishing a robust mechanism for risk management, strategies to reduce Non-Performing Assets, continuous assessment of stress and crisis readiness of the financial institutions etc. The paper also emphasizes on enhancing the role of technology (Artificial Intelligence and Virtual/Augmented Reality) in the financial services sector to optimize the outcomes and set the path towards recovery.

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