scholarly journals Legal nature of subordinated debt of financial institutions in Ukraine

2020 ◽  
pp. 272-281
Author(s):  
Babaskin A
Keyword(s):  
Financial Institution ◽  
Public Law ◽  
Point Of View ◽  
Subordinated Debt ◽  
Legal Nature ◽  
The Status ◽  
National Bank ◽  
The Relationship ◽  
Comparative Description

In the article, the author argues that from the point of view of private law, the relationship that arises between the debtor (financial institution) and the creditor in attracting funds on terms of subordinated debt, is an economic relationship for attracting, respectively, loan, loan, bank deposit, which is performed on the terms of subordinated debt. Liabilities arising from borrowing on a subordinated debt basis are long-term, unsecured, repayable, and that change the order of creditors' claims to be applied in the event of the debtor's liquidation or bankruptcy. The existence of public-law rules governing the attraction of funds on subordinated debt does not affect the legal nature of the said transactions. Therefore, the failure of a debtor to comply with a transaction with the requirements of public law to attract funds on the basis of subordinated debt does not affect its validity. The funds attracted by the debtor bank acquire the status of subordinated debt, subject to obtaining the permission of the National Bank of Ukraine to take into account the borrowed funds on terms of subordinated debt to the capital of the bank. In the absence or revocation of the said permit, there is no reason to include such funds in the equity of the debtor bank and to assign the claims of the lender to such transaction in the event of liquidation or bankruptcy of the debtor bank to the queue established by law to satisfy the claims of creditors on subordinated debt. The article gives a comparative description of subordinated debt and hybrid capital instruments as components of the bank's additional capital, and offers suggestions for improvement of the current legislation of Ukraine.

scholarly journals Democracy from the Point of View of Islamic Political Ethics: Khaled Abou El Fadl’s Doctrine

2020 ◽  
Vol 16 (1) ◽  
pp. 27-42
Author(s):  
D. V. Mukhetdinov
Keyword(s):  
Point Of View ◽  
Political Regime ◽  
Political Ethics ◽  
Political Values ◽  
Checks And Balances ◽  
Islamic Tradition ◽  
Adequate Understanding ◽  
The Status ◽  
The One ◽  
The Relationship

This paper focuses on the analysis of the Islamic thinker Kh. A. ElFadl’s political and legal conception. This conception assesses the potential of the Islamic tradition for the legitimization of democracy. We indicates that El-Fadl’s concept is not another ‘Islamic democracy’ project, but an analysis of the relationship between democratic ethos and Islamic political values. It is demonstrated that an adequate understanding of this relationship requires a comprehension of Qur’anic anthropology — the idea of human call, in particular. The logical transition from acceptance of God’s sovereignty and the status of man as His earthly governor (a successive authority’) to the inadmissibility of usurpation of power is considered reasonable. The article proves that El-Fadl allows historical variability of the forms of checks and balances that impede usurpation of power. Therefore, he emphasizes precisely the democratic ethos, and not a particular political theory or a specific political regime. The irregularity of the monopolization of a democratic ethos by the Western culture, on the one hand, and the monopolization of Shari‘a by Islamists, on the other, is thoroughly noted. In the conclusion the author outlines a general understanding of the nature of Shari‘a and the Shari‘ah foundations of political practice in the concept of El-Fadl.

Governing International Cooperation in Criminal Matters: The Role of the aut dedere aut judicare Principle

2018 ◽  
Vol 18 (2) ◽  
pp. 244-274 ◽  
Author(s):  
Andrea Caligiuri
Keyword(s):  
International Law ◽  
International Cooperation ◽  
Legal Nature ◽  
The Status ◽  
Criminal Matters ◽  
The Relationship ◽  
Over Time

The aim of the study is to ascertain how the original Grotian formula ‘aut dedere aut punire’ has been implemented and evolved in international law. The first step is to classify the multilateral conventions that have accepted an aut dedere aut judicare clause. The goal is to bring out peculiarities of the different treaty texts, describing the relationship between the two options dedere and judicare, and the different obligations that arise for the contracting states. We will then examine the content of the two options, to define the legal boundaries within which the contracting states shall or may operate. At this point, we will focus on the legal nature of the aut dedere aut judicare principle that over time may have risen to the status of customary rule. The study will conclude with analysis of reactions to the breach of the aut dedere aut judicare clause by non-complying countries.

scholarly journals THE CONCEPT OF GOVERNMENT IN THE EARLY WORKS OF ABU HASAN AL-MAWARDI

2019 ◽  
Vol 15 (2) ◽  
pp. 89-104
Author(s):  
F. Q. TOJIDINOV
Keyword(s):  
Political Theory ◽  
Political Science ◽  
Public Law ◽  
Point Of View ◽  
The Political ◽  
Political Ideas ◽  
National Importance ◽  
Political Conditions ◽  
Relationship Of ◽  
The Relationship

The relationship of politics to religion is a characteristic feature of Islam. The rules of divine law have to be unswervingly respected in all matters related to social, economic and political problems, or at least should not contradict the essence of Islamic principles. But despite this, the political doctrine of Islam — the caliphate, being the main medieval Muslim political thought, still caused many controversies due to the lack of regulations on the nature of power in the Qur’an and Sunnah. Many scholars of the Islamic world, understanding the origins of the problem, tried in every way to write the concept of Islamic political science. Even the existence of political ideas related to the authority in Islam in such Muslim writings on the caliph could not reveal and provide the theory of government from a religious point of view. These works are mostly devoted to the art of power and refl ect the norms of behavior of the ruling authorities and other representatives of the state in order to solve the necessary tasks of national importance. The Islamic experience of the thinkers who wrote these works justifi es the existence of an Islamic element in them. The art of government has been revealed to them since the emergence of Islamic practice in their lives. But there were theories of Islamic political science based on the Koran and the Sunnah. Al-Mawardi is one of the authors of books on Islamic political science. His books became very important for subsequent Muslim thinkers, this importance lies in the fact that the very followers who wrote works on political theory accepted al-Mawardi as an authority on this issue and continue to accept not only for the theory of the caliphate/imamate, but also because of his works related to public law. It is important to note that the work of al-Mawardi is the fi rst work, which presents the theory of the imamate/caliphate, taking into account the political conditions that surrounded him. 

scholarly journals Implementation of the “bail-in” mechanism in the banking system of Ukraine

2017 ◽  
Vol 12 (3) ◽  
pp. 269-282 ◽  
Author(s):  
Anzhela Kuznetsova ◽  
Galyna Azarenkova ◽  
Ievgeniia Olefir
Keyword(s):  
Financial Stability ◽  
Early Stage ◽  
Comparative Method ◽  
Estimation Method ◽  
Banking System ◽  
The European Union ◽  
Subordinated Debt ◽  
National Bank ◽  
Internal Sources

One of the important tasks of the National Bank of Ukraine is to implement the Directive 2014/59/EU namely to introduce the “bail-in” mechanism, which will enable to resolve insolvency of banks or high probability of its occurrence at the expense of internal sources of banks in order to improve the Ukrainian banking system functioning and adapt it to the requirements and standards of the European Union. The foreign experience of the “bail-in” implementation shows that central banks succeeded in restructuring the balance sheets of banks and significantly reduced the risks of their activities. Thus, the purpose of the study is to substantiate the expediency of the “bail-in” mechanism introduction in banking system of Ukraine. The essence of the “bail-in” mechanism is the involvement of shareholders and lenders of the bank in order to restore its solvency by offsetting shareholders’ equity, subordinated debt, and/or converting/writing off other long-term unsecured and unprovided liabilities in a subordinated debt or shares of the bank. In the process of scientific research, using the comparative method, the method of analogies and methods of logical generalization and scientific abstraction, the structure of the “bail-in” mechanism is determined, which consists of methods (conversion of liabilities into capital, liabilities write-off, capital write-off), provision (normative and legal, financial, organizational and institutional, technical and technological, informational) and levers (incentives, sanctions). Using the expert estimation method, it is proposed to evaluate the effectiveness of the “bail-in” mechanism by comparing the quality of the assets of the bank prior to its implementation and after the completion of the action. The results of the study show that, firstly, the implementation of the “bail-in” mechanism in Ukraine will enable the National Bank of Ukraine to interfere with the activities of banks at an early stage of the problems and to take all necessary measures to restore their solvency. Secondly, the “bail-in” mechanism implementation in Ukraine will increase banks’ resilience to shock, crisis and contribute to long-term financial stability.

Modeling the Customer Value Generation in the Industry's Supply Chain

2019 ◽  
Vol 8 (4) ◽  
pp. 1-13
Author(s):  
Milton M. Herrera ◽  
Lina A. Carvajal-Prieto ◽  
Mauricio Uriona-Maldonado ◽  
Fernando Ojeda
Keyword(s):  
Electricity Market ◽  
Customer Value ◽  
Point Of View ◽  
Utility Industry ◽  
Value Perception ◽  
Performance Drivers ◽  
Customer Value Perception ◽  
Electricity Utilities ◽  
The Relationship

This article shows that customer value generation has drivers, which could be different according to each stakeholder within the electricity industry, affecting its growth. Each stakeholder has different interests that affect the decision-making process and the customer value perception in the long term, which impacts on profitability. In order to illustrate how to identify and model key performance drivers to evaluate creating value in the electricity utility industry, this study used a simulation with the system dynamics methodology. Through simulation scenarios, this study shows that, the high customer value perception allows the electricity utilities industry to create more value. This is illustrated with the case of some electricity utilities engaged in the generation and distribution in the Colombian electricity market. The results show a new point of view that contributes to marketers and engineers in the analysis of the relationship between the stakeholders and electricity firms.

Rwanda’s Urbanization Policy:- A Critical Reading

2015 ◽  
Vol 40 (4) ◽  
pp. 5-9 ◽  
Author(s):  
Paola Somma
Keyword(s):  
Point Of View ◽  
Service Economy ◽  
Development Programs ◽  
Territorial Planning ◽  
General Relevance ◽  
The Government ◽  
Urbanization Rate ◽  
National Governments ◽  
The Relationship

If ever Africa had disappeared, it has now reappeared on the maps of investors seeking for land and resources. The entire continent seems to have become attractive for international financial institutions, which intensify their recommendations to single national Governments in order for them to further remove obstacles and make Africa an “ever better place to do business”. Rwanda represents an emblematic example of the rapidity and size of transformations Africa is faced with, which touch every sector, from the land ownership model to the modes of land use, from the distribution of population, to the construction of infrastructure. It is a fertile country, with a good water supply and two crop seasons, and is almost entirely cultivated. The majority of the inhabitants work the land, and subside thanks to agriculture. Today, however, the Government's goal, synthetically expressed in the slogan that defines the future of Rwanda as Africa's Singapore (Vesperini, 2010), is the modernization of agriculture, and the reduction of its weight in favour of a service economy. The most visible effects of this approach are the expulsion from the countryside of a huge number of families which lose any type of sustainment, and the grouping of many small plots in large territorial extensions which are often given for long term use to multinational agribusiness corporations. The transformation of agriculture is accompanied by the redistribution of population, traditionally settled in scattered patterns across the whole country. The massive migration from the countryside is explicitly sought by Government, whose target is to reach, by 2020, a 35% urbanization rate up from today's 18%. The three issues, total and unconditional opening to foreign investment, population resettlement and transformation of the agricultural activities, which are the pillars of the development programs initiated by Government and international advisors, are producing dramatic changes on the physical and built environment, and affect the living conditions of the weakest groups (White, Borras, Hall, Scoones, Walford, 2012). The paper proposes a reflection on themes which have general relevance, but which also need to be locally grounded. Of particular importance are urbanization, the relationship between towns and countryside, and the relationship between social and economic structure and territorial planning. In 2012 the author took part as consultant to the drafting of the Urbanization sector strategic plan 2012-2017. The views expressed here are personal and do not in any way represent the Government or Institutions’ point of view.

Some Remarks on Manumission and Consecration in Hellenistic Chaeronea

2018 ◽  
Vol 3 (1-2) ◽  
pp. 129-151
Author(s):  
Sara L. Zanovello
Keyword(s):  
Point Of View ◽  
Specific Mode ◽  
Central Greece ◽  
Legal Perspective ◽  
Legal Nature ◽  
The Relationship

Abstract This article aims to discuss the relationship between manumission and consecration from a legal perspective, by analyzing as a case study the corpus of inscriptions from Hellenistic Chaeronea, which is usually believed to represent a specific mode of “sacral” manumission, namely, through consecration of a slave to the god. Chaeronea provides the bulk of the evidence for this alleged form of manumission, and the content of its inscriptions are highly formulaic: they typically attest the consecration (anatithemi) of a slave (doulos) as sacred (hieros) to a god, generally Serapis. After pointing out the legal nature of manumission, the article will challenge the traditional scholarly interpretation that holds that, as an effect of consecration, slaves became free individuals. The identification of consecration with manumission, in other words, raises a number of problems. Through a close look at the single elements which characterized the condition of hieroi in Hellenistic Central Greece, the article will argue that while from a legal point of view, hieroi were slaves of the god, the absence of an actual owner exercising the powers descending from his right of ownership meant that their de facto condition resembled in several ways that of free individuals. The inscriptions from Chaeronea do not attest to manumission, but rather to consecration of slaves to the god, which ultimately result in a transfer of ownership over slaves from the human to the divine sphere.

scholarly journals Managing Public – Private Partnership Market in the Times of Economic crisis

2014 ◽  
Vol 5 (2) ◽  
pp. 63-74 ◽  
Author(s):  
Joanna K Krześ-Dobieszewska
Keyword(s):  
Economic Crisis ◽  
Financial Institution ◽  
Public Private Partnership ◽  
Point Of View ◽  
The European Union ◽  
Private Partnership ◽  
The Public ◽  
The Times ◽  
Universal Nature

The article focuses on the issues and problems caused by the economic crisis of 2008 for public-private partnership (PPP). The challenges faced are presented from the point of view of a public entity, a private partner and a financial institution, as well as the relationships between these parties and the influence of economic issues on these relations. The most crucial of these challenges seems to be: the pressure on public finance and growing difficulties in financing the public infrastructural investments, the rise of the economic risk of investments and the necessity of sufficient and appropriate transfer and management of risk, and finally – the lack of interest of financial institutions to finance long-term liabilities. The aim of the author is to provide a precise description and diagnosis of the issues mentioned above, which might improve the strategic management of PPP market as well as management of projects. The article is based on experience, documents and working papers concerning the countries and markets of the European Union but the presented conclusions should be of more universal nature.

scholarly journals TO THE ISSUE OF SOME POWERS OF A PROSECUTOR IN CRIMINAL PROCEDURE AND ADMINISTRATIVE PROCEEDINGS

2020 ◽  
Vol 16 (1) ◽  
pp. 66-74
Author(s):  
Елена Папышева
Keyword(s):  
Legal Status ◽  
Preliminary Investigation ◽  
Criminal Procedure ◽  
Criminal Case ◽  
Criminal Prosecution ◽  
Judicial Practice ◽  
Legal Nature ◽  
The Status ◽  
Administrative Proceedings ◽  
The Relationship

This article discusses some powers of a prosecutor, his legal status in criminal procedure and administrative proceedings, the relationship between the functions of criminal prosecution and prosecutorial supervision. The author notes that at the stage of initiating a criminal case, prosecutor’s powers for criminal prosecution are exercised through supervisory activities, during which, on the facts of perpetration, he is entitled to make a reasoned decision to send the relevant materials to preliminary investigation bodies. The article analyzes prosecutor’s powers in initiating an administrative case, the legal nature of the prosecutor’s decision, which, according to the author, is not and cannot be evidence in the case (source of evidence), in contrast to the position of the courts and the prevailing judicial practice. Both processes (criminal and administrative proceedings) are based on identical principles and have similar institutions. Including for this reason, the problems of determining the status and powers of the prosecutor in exercising supervision have common roots.

scholarly journals Ist Standarddeutsch für Deutschschweizer eine Fremdsprache? Untersuchungen zu einem Topos des sprachreflexiven Diskurses

2005 ◽  
Vol 24 (3) ◽  
Author(s):  
Sara Hägi ◽  
Joachim Scharloth
Keyword(s):  
Foreign Language ◽  
Language Use ◽  
Language Ideologies ◽  
Private Life ◽  
Point Of View ◽  
Language Awareness ◽  
Swiss German ◽  
The Status ◽  
German Speaking ◽  
The Relationship

This paper is concerned with the question, whether the status of Standard German in German-speaking Switzerland is adequately described as that of a foreign language. It discusses typological aspects, language awareness and language ideologies among German-speaking Swiss people, the practice of language acquisition, the language use in private life and media and the linguistic discourse about the relationship between the use of Swiss German and Standard German. It argues that from a linguistic point of view in none of these fields a clear decision can be made whether Standard German is a foreign language or not. Thus, the authors suggest that the conceptual framework ought to be widened to adequately describe the status of Standard German in German-speaking Switzerland. Finally, they take occasion to develop the concept of "Sekundärsprache"/"secondary language" for language situations similar to that in German-speaking Switzerland.

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