Central Bank and Financial Services Authority of Ireland's model

2013 ◽  
Author(s):  
Kieran McQuinn ◽  
Nuala O’Donnell ◽  
Mary Ryan
Keyword(s):  
Central Bank ◽  
Financial Services

Arah Kebijakan Pengawasan terhadap Perbankan Syariah dalam Sistem Perbankan Nasional di Indonesia

2020 ◽  
Vol 3 (1) ◽  
pp. 41-52
Author(s):  
Andrew Shandy Utama
Keyword(s):  
Central Bank ◽  
Financial Services ◽  
Banking System ◽  
Islamic Banking ◽  
Legal Research ◽  
Islamic Bank ◽  
Independent Direction ◽  
National Banking System

This research aims to explain the direction of policy regarding supervision of Islamic banking in the banking system in Indonesia. The method used in this research is normative legal research using the statutory approach. The results of this research explain that the policy regarding supervision of Islamic banking in the national banking system in Indonesia is headed toward an independent direction. In Law Number 7 of 1992 and Law Number 10 of 1998, it is stated that supervision of Islamic banking is done by Bank Indonesia as the central bank. Based on Law Number 21 of 2008, supervision of Islamic banking is strengthened by not only being supervised by Bank Indonesia, but also by the National Sharia Council of the Majelis Ulama Indonesia by placing Sharia Supervisory Councils in each Islamic bank. After the ratification of Law Number 21 of 2011, supervision of Islamic banking moved from Bank Indonesia to an independent institution called the Financial Services Authority.

From Gold Coins to Cryptocurrencies: A History of Money In 10 Minutes

ITNOW ◽  
2021 ◽  
Vol 63 (3) ◽  
pp. 6-7
Author(s):  
Keyword(s):  
Central Bank ◽  
Financial Services ◽  
History Of ◽  
Gold Coins ◽  
Specialist Group

Abstract The BCS Financial Services Specialist Group compresses over 2,000 years of history and explains how we moved from using gold coins to being on the brink of governments issuing their own central bank digital currencies.

The Position Of The Bank Indonesia As The Lender Of Last Resort After The Enactment Of Law No. 9 Of 2016 On Prevention And Mitigation Of Financial System Crisis

2017 ◽  
Vol 5 (4) ◽  
pp. 08-11
Author(s):  
Theresia Anita Christiani
Keyword(s):  
Data Analysis ◽  
Central Bank ◽  
Financial Services ◽  
Qualitative Data ◽  
Secondary Data ◽  
Jel Classification ◽  
Lender Of Last Resort ◽  
Short Term ◽  
Paper Review

Objective - This paper explores the role of the Indonesian Central Bank as the Lender of the Last Resort. Methodology/Technique - This research uses normative juridical research and secondary data. Findings - The results indicate that the Bank of Indonesian, in coordination with the Financial Services Authority, still has the authority to grant short-term loans for banks with liquidity issues. Nevertheless, the Bank of Indonesia does not have authority to provide emergency finance facilities where the funding is granted at the government's expense. Novelty - This paper uses normative juridical research and qualitative data analysis. Type of Paper - Review. Keywords: Authority, Bank, Crises, Position, Prevention, Indonesia. JEL Classification: K10, K20.

Twin Peaks Regulation After the Global Financial Crisis: A Reform Model for China?

2017 ◽  
Vol 8 (3) ◽  
Author(s):  
Miao Han
Keyword(s):  
Financial Crisis ◽  
Central Bank ◽  
Financial Services ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Relevant Literature ◽  
Twin Peaks ◽  
The Global Financial Crisis ◽  
Peak Model ◽  
Twin Peak

AbstractThe global financial crisis (GFC) has been defined as the worst financial crisis after the Great Depression of the 1930s. Reforms underway, as well as debates in discussion, revolve around both regulatory philosophy and approaches towards better supervisory outcomes. One of the most radical institutional reforms took place in the United Kingdom (UK), where the Twin-Peak model replaced the previous fully integrated regulator – the Financial Services Authority (FSA) under the Financial Services Act 2012. This paper argues that China should also introduce twin peaks regulation, but it is rather based on the resources of risk in its financial sector than the direct GFC challenge. In theory, the core arguments focus on the structure of agencies responsible for prudential regulation and the role played by the central bank as well. The Twin-Peak model has been further examined in terms of regulatory objectives and instruments. By method, this paper is a country-specific comparative study; Australia, the Netherlands and the UK are selected to represent different Twin-Peak models. This paper contributes to the relevant literature in two main aspects. First, it has displayed the principal pattern of the Twin-Peak model after detailing the case studies, including the relationship involving in two regulators, central bank and finance minister in particular. Based on this, second, it becomes possible to design a very specific model to reform China’s current sector-based financial monitoring regime. As far as the author knows, until end-2015, this is the first paper which has proposed such a particular model to China. It is argued that the appropriate institutional structure of market regulation should fit well in with a country’s financial market. Accordingly, the Twin-Peak model will be able to balance the regulatory tasks for the over-concentrated risk in China’s large banking sector but the underdeveloped securities market. Even though, regulatory independence will continue to be challenged.

Individual accountability in Irish credit institutions—Lessons to be learned from the United Kingdom’s Senior Managers’ Regime

2018 ◽  
Vol 47 (1) ◽  
pp. 35-52
Author(s):  
Blanaid Clarke
Keyword(s):  
Central Bank ◽  
Financial Services ◽  
Financial Institution ◽  
Banking Crisis ◽  
Public Concern ◽  
Senior Managers ◽  
Banking Reform ◽  
Intensive Supervision ◽  
Administrative Sanctions ◽  
Individual Accountability

This article examines the Senior Managers' Regime (SMR), the duty of responsibility and the offence relating to a decision causing a financial institution to fail introduced by the Financial Services (Banking Reform) Act 2013 to give legislative effect to the recommendations of the Parliamentary Commission on Banking Standards. The Commission had examined impediments to accountability in the wake of the LIBOR scandal. The article explores the value of introducing similar requirements and regulations in Ireland as a means of improving individual accountability and allaying public concern in light of the Irish Banking Crisis and the more recent tracker mortgage scandal. It concludes that in cases of mismanagement which is not deliberate or reckless, the Central Bank of Ireland's model of proactive and intensive supervision and enforcement might benefit from the utilization of a SMR enhanced administrative sanctions procedure alongside its Fitness and Probity Regime. However, the introduction of an offence in Ireland relating to a decision causing a financial institution to fail, while appearing to respond to a public desire to improve accountability, would give rise to a number of significant challenges particularly in relation to enforcement.

scholarly journals FRIENDLY LOAN: A LEGAL STUDY IN MALAYSIA

2021 ◽  
Vol 6 (26) ◽  
pp. 39-47
Author(s):  
Hua Siong Wong
Keyword(s):  
Interest Rate ◽  
Central Bank ◽  
Interest Rates ◽  
Financial Institutions ◽  
Financial Services ◽  
Legal Issues ◽  
Legal Study ◽  
Library Research ◽  
Laws And Policies ◽  
The Interest Rate

Financial institutions licensed which were established under the Financial Services Act 2013 and the Moneylenders Act 1951 in Malaysia will provide financial loans at the interest rate charged permitted by-laws and guidelines from the Central Bank of Malaysia to borrowers. However, not all borrowers can afford to pay high and onerous interest rates. Therefore, the law in Malaysia allows for friendly loans, i.e. the lender will provide financial loans assistance to the borrower from of interest or with minimal interest rate. This study will focus on the extent to which the legal issues of the practice of friendly loans in Malaysia and whether the provisions of current laws and policies can protect the interests of both lenders and recipients of friendly loans. This study is qualitative in nature and involves library research. The results of this study will look at aspects of legal issues in order to protect the interests of both lenders and recipients of friendly loans. In fact, Malaysia could also consider creating a special law on friendly loans and regulated by the authorities.

scholarly journals The Islamicity of Sharia Rural Banks in Indonesia

2019 ◽  
Vol 10 (2) ◽  
pp. 124-138
Author(s):  
Imanda Firmantyas Putri Pertiwi ◽  
Indriyana Puspitosari ◽  
Fitri Laela Wijayati
Keyword(s):  
Central Bank ◽  
Financial Services ◽  
Performance Index ◽  
Sampling Technique ◽  
Financial Reports ◽  
Purposive Sampling ◽  
Welfare Indicators ◽  
Descriptive Qualitative

AbstractThis paper is aimed to evaluate the Islamic Performance of Sharia Rural Banks (SRBs) in Indonesia by using the Islamicity Performance Index (IPI). The data are taken from SRBs from 2014 to 2016 (those include PF and Profit), as well the liquidation of SRBs in those years. The sample is taken by using a purposive sampling technique. Then, there are 82 SRBs samples and observing 246 pcs data. The data are obtained by evaluating their financial reports through the websites of Central Bank of Indonesia or Financial Services Authority (Otoritas Jasa Keuangan-OJK) as well as the SRBs websites. The data are analyzed by non-statistic quantitative and descriptive qualitative techniques. The results are gained from each indicator of their average Islamic Performance Index. The result shows that the Islamic Performance Index of Sharia Rural Banks is unsatisfied. Henceforth, this study has several limitations that may be observed in the next research. Moreover, this research excludes the welfare indicators of the director-employee and AAOIFI index.Penelitian ini bertujuan untuk menilai kinerja keislaman (Islamicity) Bank Perkreditan Rakyat Syariah (BPRS) di Indonesia. Penelitian ini menggunakan sampel BPRS di Indonesia dari tahun 2014 hingga 2016, dengan menggunakan teknik purposive sampling. Sampel akhir yang diperoleh adalah 82 SRB sehingga data yang diamati adalah 246 pcs data. Data diperoleh dengan mengakses laporan keuangan mereka melalui situs web Bank Sentral Indonesia atau Otoritas Jasa Keuangan (OJK) serta situs web masing-masing BPRS. Penelitian ini dianalisa dengan menggunakan teknik kuantitatif non-statistik dan deskriptif kualitatif. Hasil penelitian menemukan bahwa kinerja bank syariah berdasarkan Indeks kinerja keislaman adalah “tidak memuaskan”. Bagaimanapun, penelitian ini memiliki beberapa batasan yang dapat diperoleh melalui penelitian selanjutnya. Penelitian ini tidak termasuk indikator kesejahteraan direktur-karyawan dan indeks AAOIFI. 

scholarly journals The Relationship between Learning Style and Training Effectiveness Using Communication Technology for General Insurance Agents

2018 ◽  
pp. 217-222
Keyword(s):  
Central Bank ◽  
Learning Style ◽  
Financial Services ◽  
Training Session ◽  
Training Effectiveness ◽  
Insurance Companies ◽  
Product Knowledge ◽  
Insurance Agents ◽  
General Insurance ◽  
The People

Attaining training effectiveness will be beneficial for General Insurance Agents in performing their daily activities. The training expenditure for General Insurance Agents, which is accounted in the company’s book under the Agency Related Expenses (ARE), applies to all the practitioners in the general insurance agency force with effect from 1st January 2005 where the training hours and related requirements stipulated in the guidelines set by the Central Bank of Malaysia (BNM) must be complied with. The Financial Mediation Bureau (FMB), now known as Ombudsman for Financial Services (OFS), a unit under the Central Bank of Malaysia, had recorded 609 customers complaints in 2015, 660 in 2014 and 742 in 2013 for General Insurance products. This report shows that the people who introduces the insurance products to the public are not well versed with the products thus the knowledge imparted were different from what it is all about. In the insurance industry, the people who plays the role as link between insurance companies and customers are widely known as agents. This research was conducted in two training session where agents were evaluated to find the best way to improve their basic understanding of product knowledge thus connection to the higher-level knowledge is possible. Results indicate that agents are more comfortable, open-minded and less stressful while learning with their peers compares to instructors. The approach using learning style was developed and had resulted a more relax and conducive learning environment and the training effectiveness achieved served as evidence of improved agents’ performance.

scholarly journals Modal Intelektual Dan Kinerja Maqashid Syariah Perbankan Syariah Di Indonesia

2019 ◽  
Vol 6 (1) ◽  
pp. 5-18
Author(s):  
Mohammad Iqbal Bagus Ramadhan ◽  
Ahim Abdurahim ◽  
Hafiez Sofyani
Keyword(s):  
Human Capital ◽  
Data Analysis ◽  
Central Bank ◽  
Intellectual Capital ◽  
Financial Services ◽  
Positive Influence ◽  
Regression Method ◽  
Islamic Banking ◽  
Structural Capital ◽  
Multiple Regression Method

This study aims to analyze the influence of Islamic banking-intellectual capital (ib-vaic) covered; capital employed, human capital, and structural capital, toward maqashid shariah performance in Islamic Banking in Indonesia. This study used all (44 banks) Islamic banking that listing in Bank Indonesia (Central Bank of Indonesia) and Otoritas Jasa Keuangan (Financial Services Authority). Data analysis used SPSS (Statistical Product and Service Solutions) with multiple regression method. The results reveal that Islamic banking-human capital have positive influence on maqashid shariah performance. However, Islamic banking-capital employed and structural capital do not have influence on maqashid shariah performance.

scholarly journals Creation of a trusting environment in the financial market as an actual direction of financial and legal policy in the digital economy

2020 ◽  
pp. 148-153
Author(s):  
E. N. Pastushenko
Keyword(s):  
Central Bank ◽  
Financial Market ◽  
Russian Federation ◽  
Financial Services ◽  
Government Regulation ◽  
Self Regulation ◽  
Digital Economy ◽  
Legal Personality ◽  
Digital Format ◽  
The Russian Federation

This article is devoted to the study of issues related to the formation of a trusting environment in the financial market in the digital economy. The author concludes that the protection of the rights of consumers of financial services, including financial services provided in digital format, requires the formation of a trusting environment in the financial market. This involves a combination of government regulation of authorized entities, including the Central Bank of the Russian Federation, and self-regulation by financial organizations. The development of banking legislation and law enforcement practice testifies to the transformation of the legal personality of the Central Bank of the Russian Federation and the expansion of its authority to issue programmatic legal acts in the field of increasing the availability of financial services in the Russian Federation. This is due to the application of a systematic approach and the proposal to secure at the federal law level the powers of the Bank of Russia to issue program legal acts in the field of financial technologies.

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