scholarly journals Comparison of Indonesian Banking Regulation for Integrated Governance, Risk Management, Compliance with Its ISO Counterparts

2021 ◽  
Vol 1 (5) ◽  
pp. 84-96
Author(s):  
Nitha Pricillia
Keyword(s):  
Risk Management ◽  
Financial Services ◽  
Banking Industry ◽  
Banking Regulation ◽  
International Standards ◽  
Iso Standards ◽  
Banking Regulations ◽  
Iso 31000 ◽  
Governance Risk

The research is aiming at obtaining understanding and assurance whether the regulation of Indonesia Financial Services Authority (orOtoritas Jasa Keuangan/OJK) for banking industry on Governance, Risk Management, and Compliance (GRC) in Indonesia are compatible with the requirements and suggested practices of ISO 37000/DIS on Governance, ISO 31000:2018 Risk Management, and ISO 37301: Compliance Management as international standards for Governance, Risk, and Compliance (GRC). The regulatory requirements as set forth by Indonesian FSA to banking industry for integrated GRC have all been compatible with all the elements of ISO 37000, ISO 31000:2018, and ISO 37301. This study utilizes a comparative study method, which is conducted by assessing the similarities and differences between two standards or regulations, or in this study, between Indonesia Financial Services Authority Regulation, or Peraturan Otoritas Jasa Keuangan (POJK) on Governance, Risk Management and Compliance (GRC), with their ISO Standards counterparts. The result is expected to show the degree of fitness of Indonesian banking regulations with these ISO standards. There is only a very small number of studies have been done in the light of calibrating the Indonesian banking regulation in Governance, Risk Management and Compliance (GRC) with their ISO counterparts. Therefore, the result of this paper could be used as generic inputs and considerations for banks which have initiated their integrated GRC practices, and/or just recently commenced, and/or improving their practices more effectively. Whereas the study provides general understanding and assurance of the compatibility, it is not supported yet by empirical evidence of how banks practically exercise the implementation of integrated GRC based on ISO 37000, ISO 31000, and ISO 37301 and how do they conduct calibration efforts to its efficacy. Therefore, it is recommended to conduct such empirical case study in several banks in Indonesia as further study. Further, a field study such as interviews and surveys with Indonesian banking professionals could also be performed to provide additional perspectives on how integrated GRC is implemented in Indonesian banking.

Entrepreneurs’ Perception of Banks’ Social Responsibility : A Haitian Case Study

2021 ◽  
Author(s):  
Bénédique Paul ◽  
◽  
Ahmad H. Juma'h ◽  
Florys Dorante ◽  
◽  
...  
Keyword(s):  
Social Responsibility ◽  
Financial Services ◽  
Public Perception ◽  
International Institutions ◽  
Banking Industry ◽  
Financial Intermediaries ◽  
Future Research ◽  
The Government ◽  
Corporate Social

Banks are the pillars of entrepreneurship expansion and economic development. In developing countries, where there is little public financial support for entrepreneurs, it is clear that banks, among other financial institutions, should be part of the solution to the problem of financing economic activity. As financial intermediaries, commercial banks need to enjoy good perception among entrepreneurs to improve their profitability. To achieve such objective, banks sometimes adopt social responsibility strategies to influence public perception of banks’ behavior. How do Haitian entrepreneurs perceive Haitian banks’ social responsibility? To answer this question, we collect empirical data among entrepreneurs of all size (micro, small and large). The findings help interesting discussions of banks perception among entrepreneurs divided by demographic (gender, location) and economic (sector, size, assets) characteristics. Among the main conclusions, we find that banks enjoy very bad perception among entrepreneurs (all size). Also, the special concessions given by the Government and other international institutions to the banking industry in Haiti help very few to increase the financial services for Haitian entrepreneurs. From our conclusion arise questions for future research to study the relations between entrepreneurs’ own practices of corporate social responsibility and their perception of banks social responsibility.

scholarly journals Using information technology governance, risk management and compliance (GRC) as a creator of business values – a case study

2011 ◽  
Vol 12 (1) ◽  
pp. 115-125 ◽  
Author(s):  
Sam Lubbe ◽  
Osden Jokonya
Keyword(s):  
Information Technology ◽  
Risk Management ◽  
It Governance ◽  
Business Values ◽  
Study Approach ◽  
Technology Governance ◽  
Business Units ◽  
It Decision Making ◽  
Governance Risk

The relationship between Information Technology (IT) Governance, Risk Management and Compliance (GRC) and organisation business values continues to interest academics and practitioners (IT Governance Institute, 2003). Like governance, risk management and compliance generally, IT GRC is about the decision rights and accountabilities that encourage desirable behaviour in the use of IT (IT Governance Institute, 2003). A case study approach was used in an organisation with many business units. The organisation selected is a mining company, RioZim, situated in Zimbabwe. Data was collected from business units on IT issues and business values. The interviews centred on the IT GRC practices based on responsibility and authority for IT decision making. The results suggest that IT GRC does not adequately support business values. The study revealed that business values should drive IT GRC and IT GRC should be the responsibility of executives and all business units.

scholarly journals Financial Technologies of International Banking Regulations

2019 ◽  
Vol 71 ◽  
pp. 02010
Author(s):  
G.S. Panova
Keyword(s):  
Financial Markets ◽  
Banking Regulation ◽  
International Standards ◽  
International Banking ◽  
Advantages And Disadvantages ◽  
Banking Regulations ◽  
Basel Accords ◽  
Global Banking ◽  
Methodological Approaches ◽  
The Impact

The author considers the problems of banking regulation in the context of globalization. An analysis of relevant issues indicates the need to improve financial technologies for banking regulation. Basel innovations, designed to ensure the stability and uninterrupted operation of the global banking system, have led to the creation of counter-innovations by the banking sector. Basel Accords led to the development of the so-called “regulatory rally”, when increasingly sophisticated methods of regulation gave rise to increasingly inventive ways to protect the gains of the banking business. These ways sometimes became an indirect source of rising risks, and were initially taken as effective protection against these risks. The author analyzes the main advantages and disadvantages of the latest Basel Accords on Banking Supervision (Basel III) and identifies specific directions for its improvement, taking into account current practices of national and international approaches to regulating the activities of credit organizations 10 years after the global financial and banking crisis. The importance of the study is determined by the need to develop financial technologies for international banking regulations, as well as theoretical and methodological approaches that determine the interconnectedness and interdependence of financial markets. It is also important to evaluate the effectiveness of measures to regulate the activities of financial and credit institutions at the national and international levels to develop strategies and tactics for the optimal progressive development of financial markets. The purpose of the study is to develop theoretical and methodological approaches to assessing the impact of international standards on activities of Russian credit organizations.

Occupational and environmental safety standards in nanotechnology: International Organization for Standardization, Latin America and beyond

2017 ◽  
Vol 28 (4) ◽  
pp. 538-554 ◽  
Author(s):  
Guillermo Foladori
Keyword(s):  
Risk Management ◽  
Latin America ◽  
Self Regulation ◽  
Environmental Safety ◽  
Occupational Risk ◽  
International Standards ◽  
Working Environment ◽  
Iso Standards ◽  
Safety Standards ◽  
Management Standards

In the absence of government safety regulation in the field of nanotechnology, ISO standards are being used as the basis for establishing technical and management guidelines at an international level. There are more than 50 current ISO standards on nanotechnology. Some of these relate to the working environment and occupational risk management. In Latin America, entities that are members of ISO are enunciating national versions of the international standards. In this article, this context is analysed critically, starting from the Mexican standard on occupational risk management in the working environment. Even though risk management standards may guarantee better and safer working conditions, in the field of nanotechnology, they simultaneously unlock detrimental implications for workers and society. Reliance on such private and voluntary forms of industry self-regulation is identified as a by-product of global neoliberalism.

scholarly journals Ghana

2020 ◽  
pp. 147-173
Author(s):  
Emily Jones
Keyword(s):  
West Africa ◽  
International Finance ◽  
Financial Services ◽  
Banking Sector ◽  
Party Politics ◽  
Major Elements ◽  
International Standards ◽  
Radical Reform ◽  
Policy Priority

In Ghana the stop-start dynamics of Basel implementation reflects party politics. Moves to implement Basel and other international standards have coincided with periods when the New Patriotic Party (NPP) has been in office. The NPP has a vision for positioning Ghana as a financial services hub for West Africa and strong ideological and material connections to international finance. In 2017 the NPP government embarked on a radical reform of the banking sector, implementing major elements of Basel II and III and catapulting Ghana to among the most ambitious implementers of Basel standards among our case study countries. In contrast, the National Democratic Congress (NDC) focused on directing finance to the productive sectors of the economy and supporting indigenous banks, and the implementation of international standards was not a policy priority during their periods in office.

scholarly journals Pakistan

2020 ◽  
pp. 105-125
Author(s):  
Natalya Naqvi
Keyword(s):  
World Bank ◽  
Financial Services ◽  
Banking Sector ◽  
Basel Ii ◽  
International Standards ◽  
Basel Iii ◽  
The World Bank ◽  
The World ◽  
Over Time

Pakistan has the highest level of implementation among our case study countries. The impetus for converging on international standards has come from different actors over time. The adoption of Basel I adoption in the 1980s was driven by the World Bank and IMF. In the 1990s and early 2000s, the adoption of Basel II was driven first by politicians promoting the expansion of financial services, and then by banking sector regulators. Most recently, as banks have internationalized, they have championed the implementation of Basel III. Pakistan is one of the few cases where all three major actors—politicians, regulators, and major banks—are now aligned behind the implementation of the standards, leading to a high and ambitious level of implementation.

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