scholarly journals Open issues and perspectives of the present arrangements between FR of Yugoslavia and international financial institutions

2003 ◽  
Vol 46 (1-2) ◽  
pp. 55-72
Author(s):  
Pero Petrovic
Keyword(s):  
Financial Institutions ◽  
Free Market ◽  
Banking System ◽  
Macroeconomic Policy ◽  
Legal Framework ◽  
International Financial Institutions ◽  
Open Questions ◽  
Foreign Countries ◽  
Definition Of ◽  
New Framework

The economic-financial relations with foreign countries and organizations and that is include transition of the Yugoslav politics and it is complex subject about characteristics of the actual arrangements of the FR Yugoslavia with international financial institutions and organizations and that is only one important part. But interrelations that processes is obviously for this article main subject are open questions and dealed with it a perspective of the future arrangements. We must take micro and macroeconomic measures dealed with problems of our society and economy that arrangements will be important factors of the development of the economic development. International Monetary Found is concluded that FR of Yugoslavia have a great successes in the reforms of macroeconomic policy and in the first part dealing with inflation and growth of the currency reserves and growth of the industry production. Dealing with new macroeconomic policy bring the results and new tax politics and liberalization of the tax policy an currency system at the beginning of this year. New framework of the privatization and definition of banking system there is create a new legal framework with goal of transformation economy to free market economy.

scholarly journals FINTECH INDUSTRY IN UKRAINE: PROBLEMS AND PROSPECTS FOR THE IMPLEMENTATION OF INNOVATIVE SOLUTIONS

2020 ◽  
Vol 6 (4) ◽  
pp. 46-55
Author(s):  
Vira Vartsaba ◽  
Olha Zaslavska
Keyword(s):  
International Development ◽  
Financial Institutions ◽  
Financial Services ◽  
Digital Literacy ◽  
Public Awareness ◽  
Banking System ◽  
Radical Change ◽  
Legal Framework ◽  
Model Assessment ◽  
Credit System

The article considers the issues of development of the financial technology market, its opportunities and obstacles, as well as the need and inevitability of the in-troduction of fintech solutions in the financial and credit spheres. The main purpose of the research is to determine the role of fintech services in the state economy, the prospects for their development, as well as to substantiate the trends of adaptation of classical credit institutions and consumers of financial services to new financial tech-nologies at different stages of their development. Systematization of literature sources and approaches to solving the problem of intensifying activities in the field of innovative finance has shown that fintech is a specific cross-sectoral industry, which lies on the border of financial and IT spheres, consists of companies that use technology to improve the efficiency of financial services and encompasses digital innovations and programs that facilitate the creation and implementation of financial products. The urgency of solving this scientific problem is that the market of finan-cial technologies is one of the fastest growing. That is why it highlights the need for traditional financial institutions to digitize their activities through a radical change in the business model in order to strengthen competitive positions and provide strategic advantages. The research of the implementation of financial technologies in the article is carried out in the following logical sequence: systematization of stages of development of the fintech industry; assessment of the development of the fintech sphere in Ukraine in the context of the transition to the stage of integration with the banking system; study of the strengths and weaknesses of domestic banks and fintech companies, outlining obstacles and necessary changes for further digitization of the financial and credit system; research of the process of implementation of fintech services on the example of the technology life cycle model; assessment of the relationship between the level of financial and digital literacy of the population and the depth of promotion of innovative fintech products; identifying ways to increase the financial and digital inclusion of the population of Ukraine. Methods of the empirical, experimental and theoretical levels became the methodological tools of the conducted research. The results were evaluated and analyzed on the basis of surveys conducted in 2017-2019 by the Ukrainian Association of Fintech and Innovative Companies, the Ministry of Digital Transformation of Ukraine, the Ukrainian division of the British audit and consulting company Ernst & Young, and the US Agency for International Development. The article presents the results of an empirical analysis of the relations and interdependence of classical and innovative financial institutions, which showed the inevitability of the processes of digitization of financial services. The study em-pirically confirms and theoretically proves that the favorable development of the fintech industry is based on the following: the level of public awareness in the field of finance and information technology; the level of innovative development of financial institutions and the degree of penetration of the fintech companies in the financial market of the country; completeness of the legal framework.

Tajik remittance slump will weaken flawed banks

2016 ◽  
Keyword(s):  
Financial Institutions ◽  
Banking Sector ◽  
Banking System ◽  
International Financial Institutions ◽  
Content Type ◽  
Bank Deposits ◽  
The Rich ◽  
The Government ◽  
Main Banks ◽  
Poor Management

Subject Tajikistan's troubled banking sector. Significance Tajikistan's banking system has been in crisis since 2015, as problems in Russia feed through to this remittance-dependent economy. A decline in funds sent home by labour migrants has shrunk bank deposits, and the proportion of non-performing loans has risen sharply. The cash crisis is exacerbated by poor management and cronyism in financial institutions. The main banks, Tojiksodirotbank and Agroinvestbank, have restricted customer withdrawals. Impacts International financial institutions will condition assistance on reforms. However, the government will balk at any reform measures liable to hurt the rich and powerful. The government may seek Chinese support for the banking sector.

scholarly journals Fraud in the banking system of Ukraine: ways to combat taking into account foreign experience

2021 ◽  
Vol 10 (45) ◽  
pp. 208-220
Author(s):  
Oleh V. Kyrychenko ◽  
Olena A. Soldatenko ◽  
Olena V. Gorokhovska ◽  
Maryna O. Voloshyna ◽  
Larysa O. Maksymova
Keyword(s):  
Internal Control ◽  
Standard Procedure ◽  
Banking System ◽  
Developed Countries ◽  
Legal Framework ◽  
Systematic Analysis ◽  
Lack Of Information ◽  
Definition Of ◽  
Banking Institution ◽  
Financial Monitoring

The article aims to identify effective ways to combat bank fraud in Ukraine. Using the method of systematic analysis of theoretical experience, practical measures and international legislation in the field of combating banking fraud, the main factors influencing the bank fraud level are identified: financial instability of the banking institution, lack of information about the client's credit history, poor internal control, low level of corporate governance, lack of a standard procedure for customers verification, lack of a unified register of bank employees, imperfect legal regulators and a banking control system. The study allowed to identify the characteristics of an effective banking fraud combating system: a clear definition of the legal framework, regulation subjects and objects, strict and guaranteed liability for violations of laws, cooperation of structural units and regulatory authorities at the domestic and international level, state control of financial monitoring. As a result of the study, it was concluded that the successful experience of developed countries, comprehensive implementation of measures to combat bank fraud (at the legislative, bank management and technological level) will not only reduce the level of bank fraud, but also corruption, money laundering and terrorist financing rate.

scholarly journals BIOBANKŲ SAMPRATA IR STATUS QUO LIETUVOJE

Teisė ◽  
2015 ◽  
Vol 92 ◽  
pp. 80-95
Author(s):  
Edvinas Meškys
Keyword(s):  
Detailed Analysis ◽  
Legal Framework ◽  
Status Quo ◽  
Research Projects ◽  
Specific Research ◽  
Foreign Countries ◽  
Research Biobanks ◽  
The Republic ◽  
Definition Of ◽  
Legal Barriers

Šiame straipsnyje siekiama atskleisti žmogaus biobanko sampratą ir parodyti šios sampratos įvairiapusiškumą užsienio šalių praktikoje, dėl kurio dažnai atsiranda teisinių kliūčių bendrai plėtoti tarpvalstybinius ar tarptautinius mokslinius projektus, kurti europinį biobankų tinklą. Kartu bandoma palyginti biobanką su kitomis biologinių mėginių kolekcijomis ir nustatyti, koks biobanko apibrėžimas galėtų būti priimtinas Lietuvoje. Galiausiai, daug dėmesio straipsnyje skiriama atskirų Lietuvos Respublikos įstatymų analizei, siekiant įvertinti, ar esama teisinė aplinka sukuria pakankamą pagrindą kurti ir plėtoti specifinius mokslinius biobankus Lietuvoje. Šis straipsnis – įvadas į daug detalesnę, su moksliniais biobankais susijusių probleminių klausimų analizę. This article aims to reveal the definition of human biobank and show the diversity of this definition in foreign countries‘ practice, which often creactes legal barriers for development of intercountry or international scintific research projects, creation of European biobanks‘ network. Additionally, this article aims to compare the biobank with other collections of biological materials and identify the most appropriate definition for Lithuania. Finally, considerable attention is paid for the analysis of separate laws of the Republic of Lithuania in order to evaluate if exsiting legal framework creates a sufficient ground for establishment and development of specific research biobanks in Lithuania. This article is a introduction to a more detailed analysis of the problematic aspects of research biobanks.

Public-Private Partnerships in Slovenia: Recent Developments and Perspectives

2010 ◽  
Vol 35 (2) ◽  
pp. 191-215 ◽  
Author(s):  
Katarina Zajc ◽  
Bojan Tičar
Keyword(s):  
Public Service ◽  
Public Procurement ◽  
Legal Framework ◽  
Legal Regulation ◽  
Public Private Partnerships ◽  
The European Union ◽  
Economic Rationale ◽  
Open Questions ◽  
Recent Developments ◽  
Definition Of

AbstractIn this article, the authors define and analyze the legal framework for public-private partnerships (PPP) as a new institution under Slovenian law. In the first part of the article, the authors discuss the legal definition of PPP in the European Union. In the authors' opinion, the EU's concept of PPP can be defined and regulated in several ways. As a result, the understanding of PPP differs from one member state to another. A related issue is the question of the definition of 'public service'. Before defining and discussing new forms of PPP as determined in the 2006 Slovenian Law on PPP, the authors discuss the economic rationale for implementing the two types of PPP in Slovenia: special contractually based partnerships and corporate-based partnerships. The former can be a concession agreement or public-procurement agreement, while the latter is a type of newly established or newly transformed legal entity. In the next part of the article, the authors describe new legal procedures governing PPP arrangements in the future and and offer some limited empirical evidence on those concession agreements that already exist in Slovenia. The authors conclude the article with some open questions about the legal regulation of PPP in the Slovenian legal system as well as an international comparison.

A Public Law Perspective on Labour Governance by International Financial Institutions

2020 ◽  
Vol 17 (1) ◽  
pp. 105-132
Author(s):  
Franz Christian Ebert
Keyword(s):  
World Bank ◽  
Financial Institutions ◽  
Legal Framework ◽  
Public Law ◽  
International Financial Institutions ◽  
Labour Law ◽  
The World Bank ◽  
Labour Standards ◽  
The International Monetary Fund ◽  
Domestic Level

Over the last decades, international financial institutions (‘IFIs’) such as the International Monetary Fund (‘IMF’) or the World Bank have emerged as important actors in the area of labour governance. While the conditionality attached to IFI lending programmes is of particular importance in this regard, labour governance by IFIs transcends these well-known mechanisms. Through a variety of other governance instruments IFIs influence labour standards in their members’ territories far beyond the countries that are recipients of their financial support. This paper sheds light on the so far under-researched IMF Article IV Consultations by analysing how they impact labour standards at the domestic level. After providing an overview of the origins, scope, and the procedure of the Article IV Consultations, the paper shows that these have sometimes advocated far-reaching labour law reforms. The paper then employs the International Public Authority approach to better understand the legitimacy concerns created by these Consultations in terms of labour governance. With a view to addressing these concerns, the paper discusses avenues to strengthen the legal framework for the IMF’s Article IV Consultations in substantive and procedural terms.

COVID-19 could reconfigure African foreign relations

2020 ◽  
Keyword(s):  
World Bank ◽  
Financial Institutions ◽  
Foreign Relations ◽  
Trading Partner ◽  
Political Elites ◽  
International Financial Institutions ◽  
Content Type ◽  
Profound Impact ◽  
Foreign Countries ◽  
Contrast Discrimination

Subject Africa COVID-19 diplomacy. Significance The response of foreign countries and international financial institutions (IFIs) to African governments and citizens during the COVID-19 pandemic is having a profound impact on public and elite attitudes to the continent's international partners. The IMF and World Bank have been widely praised for arranging debt service relief to enable indebted governments to respond more effectively to the pandemic. In contrast, discrimination against Africans living in China has received widespread criticism. Impacts There is a growing risk of reprisal attacks and discrimination against Chinese citizens living in African states. The perceived failure of US leadership on COVID-19 means it will not capitalise on the opportunity to combat China's influence in Africa. African political elites will likely still see China as a preferred trading partner, but scepticism among domestic populations will grow.

scholarly journals INFLUENCE OF BROWNFIELD CONVERSION ON EVALUATING REAL ESTATE AND IMPLEMETING THE POSSIBILITES OF URBAN BROWNFIELDS IN LITHUANIAN CITIES / APLEISTŲ TERITORIJŲ KONVERSIJOS ĮGYVENDINIMO GALIMYBĖS LIETUVOS MIESTUOSE

2015 ◽  
Vol 7 (1) ◽  
pp. 30-39
Author(s):  
Vytautas Bielinskas ◽  
Marija Burinskienė
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Urban Infrastructure ◽  
Legal Framework ◽  
Current Trends ◽  
Foreign Countries ◽  
Urban Territories ◽  
Private And Public ◽  
Definition Of ◽  
Urban Brownfields

The article deals with the problems of brownfield in Lithuania. The paper overviews Lithuanian and foreign experience of integrating the introduced areas into the urban framework based on social, economic, ecological and cultural contextuality. The main problem, on Lithuanian scale, is the absence of an official definition of urban brownfield. The legal framework in Lithuania does not contain any provisions to be processed. The article is aimed at identifying potential threats to the areas in respect of criteria for urban brownfields, and, according to this review, at revealing possible uses of this land. One of the most effective ways of urban sustainable development is the conversion of former military, industrial and other land accepted as the legacy of the Soviet regime. The authors have established a causal relationship resulting in the emergence of the urban areas of wilderness and developed guidance on using them. The authors have analysed and evaluated the existing real estate developers and current trends towards opportunities for private and public partnership (PPP) in Lithuania. Although PPP is widespread in most of European countries, it is a rare phenomenon in Lithuania, and has no deep-rooted tradition of this kind of investment in urban infrastructure; however, evaluation is one of the most potential ways to revitalize abandoned urban territories. Based on practices of foreign countries, the authors have identified PPP as a priority. Straipsnyje nagrinėjama apleistų teritorijų Lietuvoje problematika, apžvelgiama tokių teritorijų integravimo į miestų urbanistinį karkasą, atsižvelgiant į socialinį, ekonominį, ekologinį ir kultūrinį kontekstualumą, Lietuvos ir užsienio patirtis. Pagrindinė vyraujanti problema yra informacijos, kaip vertinti apleistas teritorijas, stoka. Lietuvos teisinėje bazėje nėra jokių jų tvarkymo nuostatų. Šio straipsnio tikslas – įvertinus Europos šalių patirtį apibrėžti tokių teritorijų keliamas grėsmes ir atskleisti panaudojimo galimybes Lietuvos miestuose. Buvusių karinių, pramoninių ir kitų teritorijų, susiformavusių mieste sovietinio režimo metais, konversija – tai vienas efektyviausių tvariosios plėtros būdų. Autoriai identifikavo priežastinį ryšį, lėmusį miesto dykrų atsiradimą, ir parengė jų panaudojimo metodines rekomendacijas. Atlikdami analizę autoriai įvertino esamą bendrąją Lietuvos miestų urbanistinę situaciją bei privataus ir viešojo sektorių partnerystės (angl. Public Private Partnership – PPP) taikymo galimybes. Lietuvoje toks investavimo į miesto infrastruktūrą būdas, priešingai nei Europos šalyse, yra retas, neturi gilių tradicijų, tačiau vertinamas kaip potencialus. Atlikę užsienyje taikomų modelių apžvalgą autoriai šį partnerystės būdą išskyrė kaip prioritetinį.

scholarly journals Was there an Alternative to the Balcerowicz Plan? Shaping the Economic Policy of Solidarity Camp in 1989

2019 ◽  
Vol 47 (4) ◽  
pp. 97-115
Author(s):  
Tomasz Kozłowski
Keyword(s):  
Economic Policy ◽  
International Monetary Fund ◽  
Financial Institutions ◽  
Free Market ◽  
International Financial Institutions ◽  
Solidarity Movement ◽  
History Of ◽  
The International Monetary Fund

The article describes the shaping of the Solidarity’s economic policy in 1989 (from the elections in June until the implementation of the assumptions of the so-called Balcerowicz plan). The analysis includes both discussions between economists who support the Solidarity movement (such as Leszek Balcerowicz, Janusz Beksiak and Ryszard Bugaj) and the influence of international financial institutions and foreign creditors of Poland (such as the International Monetary Fund). The article presents the history of adopting neoliberal patterns of transformation, such as a centrally controlled economy and free market.

scholarly journals ESSENCE AND CONTENT OF CATEGORY “FINANCIAL INVESTIGATIONS” AND CONCEPT DEVELOPMENT AMID EUROPEAN INTEGRATION

2019 ◽  
Vol 4 (5) ◽  
pp. 36
Author(s):  
Nadiya Bortnyk ◽  
Julia Tsurcan-Saifulina ◽  
Oleksandr Kotukha
Keyword(s):  
European Union ◽  
Money Laundering ◽  
International Organizations ◽  
Legal Framework ◽  
Economic Security ◽  
Legal Method ◽  
Foreign Countries ◽  
Logical Method ◽  
European Union Legislation ◽  
Definition Of

The article carries out analysis of essence and content of financial investigations as one of the main countermeasures to shadowing the economy and, in particular, anti-money laundering. Features of the implementation of the FATF Recommendations and other international organizations regarding the legal and institutional support of conducting financial investigations in Ukraine and other European Union countries are determined. Systematization of scientific views on the definition of “financial investigation” and the practice of carrying out the relevant activities both in foreign countries and in Ukraine allowed formulating approaches to the unification of the term “financial investigation” in the national scientific format. The methodological basis of the research consists of general scientific and special methods and techniques of scientific knowledge, which are used as a single set, namely, the logical-semantic method, the method of convergence, and also the formal-logical method are chosen to define the concepts of “financial investigation”, “analytical research”, “anti-money laundering”, “interaction of subjects of the national system of anti-money laundering”, etc. The comparative legal method is used to study the positive foreign and domestic experience of institutional and legal provision of financial investigations in the fight against money laundering, as well as to analyse and characterize the requirements of international organizations regarding the implementation of European Union legislation in the domestic legislation on issues of the legal framework for anti-money laundering. Practical implications of the paper are to reveal and systematize problems to be solved by improving the domestic legal and regulatory framework for organizing financial investigations in the system of anti-money laundering measures, while the new principles of its formation proposed by the authors can be implemented in practical terms and result in improving the information and spatial format and enhancing the interaction of the subjects of ensuring national economic security.

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