scholarly journals Accessing Impacts of Banks and Financial Institutions Act in the Development of Financial Sector

2018 ◽  
pp. 157-163
Author(s):  
Ram Sharan Pokharel
Keyword(s):  
Financial Institutions ◽  
Industrial Development ◽  
Agricultural Development ◽  
Institutional Development ◽  
Financial Sector ◽  
Market Mechanism ◽  
Insurance Companies ◽  
Great Earthquake ◽  
History Of ◽  
The Government

The main objective behind the establishment of Nepal Rastra Bank in 1956, as per the then Nepal Rastra Bank Act, 2012 B.S. (Now Nepal Rastra Bank Act, 1955), was to maintain macro-economic stability, by adopting sound and effective monetary, foreign exchange and financial sector policies. Institutional Development and Legal Development are the main underlying components to achieve the objectives of macroeconomic stability along with the development of Regulatory Authority and market mechanism subject to Institutional Development. Ministry of Finance, Nepal Rastra Bank, Securities Board of Nepal, Insurance Board, etc. form Regulatory Authorities whereas banks and financial institutions, securities brokers, merchant bankers, insurance companies form the Market Mechanism. This article, does not give much attention to institutional development, aims mainly to emphasize on the impacts of legal input in the development of financial sectors of Nepal, especially, the promotion of Banks and Financial Institutions and its impacts in the financial sector and the impacts of Banks and Financial Institutions Act (BAFIA) in the development of Banks and Financial Institutions, respectively. The history of modern banking in Nepal is yet to complete 100 years as it is evident from the establishment of Nepal Bank Limited in 1937. Prior to the establishment of Nepal Bank Limited, limited amount of bank transactions used to be done by Tejarath Adda which was established in 1880. Tejarath Adda did not collect deposit but it used to disburse loan. However, it did not provide loan to general people, rather it used to provide loan to government employees and land-lords only. Nevertheless, the government had provided loan to general people through Tejarath Adda to build house after the great earthquake of 1934. The modern banking history of Nepal commenced after the establishment of Nepal Bank Limited in 1937. Subsequently, Nepal Industrial Development Corporation, Agricultural Development Bank, Rastriya Bannijjya Bank, Nepal Arab Bank Limited, Nepal Indosuez Bank Limited (which later became Nepal Investment Bank Limited), Nepal Grindlays Bank Limited (which later became Standard Chartered Bank Nepal Limited), Himalayan Bank Limited, and the youngest bank Mega Bank Limited have been established in series. Now, Nepal Rastra Bank has stopped licensing process of Banks and Financial Institutions except Infrastructure Bank.

scholarly journals Psychological Capital of Employees’ Engagement: Moderating Impact of Conflict Management in the Financial Sector of Pakistan

2019 ◽  
Vol IV (III) ◽  
pp. 115-123
Author(s):  
Muhammad Asif ◽  
Muhammad Azizullah Khan ◽  
Malik Adil Pasha
Keyword(s):  
Conflict Management ◽  
Psychological Capital ◽  
Financial Sector ◽  
Insurance Companies ◽  
Investment Companies ◽  
History Of ◽  
Brokerage Firms ◽  
The Relationship ◽  
Goals And Objectives

Human capital is the backbone of any business and its behavior reflects how the company would achieve its goals and objectives in its business. This study examines the relationship between psychological capital (PC) and employees’ engagement (EE) with the moderating role of conflict management (CM) in the financial sector of Pakistan. A questionnaire composed of established scales were administered to 278 employees in the financial sector, including various banks, investment companies, real estate companies, insurance companies, and brokerage firms at Islamabad. After determining the reliability, the model was analyzed with the help of correlation and regression. Research indicates that PC positively influences EE. This relationship improves further positively when conflicts are handled effectively. Overall, this effort contributes to the existing literature on the history of worker’s involvement by examining the direct impact of PC and CM on EE and moderation of CM.

scholarly journals PEMIKIRAN EKONOMI IBNU TAIMIYAH

2017 ◽  
Vol 2 (2) ◽  
pp. 111-127
Author(s):  
Fasiha Fasiha
Keyword(s):  
Historical Development ◽  
Economic Thought ◽  
Market Mechanism ◽  
History Of Economic Thought ◽  
Demand And Supply ◽  
Price Increases ◽  
History Of ◽  
The Government ◽  
Islamic Civilization ◽  
Economic Thinking

The development of Islamic economics can not be separated from the historical development of Islamic civilization. The study of the history of economic thought by analyzing the description of economic thinking Ibn Taymiyyah and the history of life that affect the economic thinking of Ibn Taymiyyah. According to Ibn Taymiyyah pricing by the government is good, but not absolute, because the actual prices are set by the forces of demand and supply. Another case, if the price increases caused by injustice market mechanism, the government may intervene in pricing. To achieve this purpose, it is necessary formation hisbah institutions with the aim of protecting the interests of buyers and sellers

scholarly journals The cyber-resilience of financial institutions: significance and applicability

2019 ◽  
Vol 5 (1) ◽  
Author(s):  
Benoît Dupont
Keyword(s):  
Financial Institutions ◽  
Financial Sector ◽  
Regulatory Agencies ◽  
External Shocks ◽  
Online Security ◽  
Scientific Disciplines ◽  
Different Types ◽  
History Of ◽  
Risk Managers ◽  
Rich History

Abstract The growing sophistication, frequency and severity of cyberattacks targeting financial sector institutions highlight their inevitability and the impossibility of completely protecting the integrity of critical computer systems. In this context, cyber-resilience offers an attractive complementary alternative to the existing cybersecurity paradigm. Cyber-resilience is defined in this article as the capacity to withstand, recover from and adapt to the external shocks caused by cyber risks. Resilience has a long and rich history in a number of scientific disciplines, including in engineering and disaster management. One of its main benefits is that it enables complex organizations to prepare for adverse events and to keep operating under very challenging circumstances. This article seeks to explore the significance of this concept and its applicability to the online security of financial institutions. The first section examines the need for cyber-resilience in the financial sector, highlighting the different types of threats that target financial systems and the various measures of their adverse impact. This section concludes that the “prevent and protect” paradigm that has prevailed so far is inadequate, and that a cyber-resilience orientation should be added to the risk managers’ toolbox. The second section briefly traces the scientific history of the concept and outlines the five core dimensions of organizational resilience, which is dynamic, networked, practiced, adaptive, and contested. Finally, the third section analyses three types of institutional approaches that are used to foster cyber-resilience in the financial sector (and beyond): (i) a thriving cybersecurity industry is promoting cyber-resilience as the future of security; (ii) standards bodies are embedding cyber-resilience into some of their cybersecurity standards; and (iii) regulatory agencies have developed a broad range of compliance tools aimed at enhancing cyber-resilience.

scholarly journals ISSUES AND CHALLENGES OF FINANCIAL MANAGEMENT PRACTICES IN ISLAMIC FINANCIAL INSTITUTIONS: EMPIRICAL EVIDENCE FROM BANGLADESH

2021 ◽  
Vol 5 (1) ◽  
pp. 38-55
Author(s):  
Serajul Islam ◽  
Abdullahil Mamun ◽  
K. M. Anwarul Islam ◽  
Mohammad Rahim Uddin ◽  
Tania Sultana
Keyword(s):  
Financial Institutions ◽  
Financial Management ◽  
Management Practices ◽  
Financial System ◽  
Principal Component ◽  
Insurance Companies ◽  
Regulatory Body ◽  
Principal Component Factor Analysis ◽  
Islamic Financial Institutions ◽  
The Government

Studies suggest several issues and challenges of financial management practices in Islamic banks and insurance companies and Islamic non-bank financial institutions (INBFIs) in Bangladesh. The purpose of the research is to examine the issues and challenges of Islamic Financial Management (IFM) from an empirical perspective. The study relies on a structured questionnaire survey in prominent Islamic financial institutions (IFIs) of Bangladesh for achieving its objective. After confirming data reliability based on Cronbach's alpha, the study proceeds to analyse by applying descriptive statistics and principal component factor analysis using correlation, Kaiser-Meyer-Olkin (KMO) and Bartlett's Test and VARIMAX Rotation. The study finds that there is no separate regulatory framework to supervise and monitor IFIs in Bangladesh rather the central bank regulates the Islamic financial system based on the existing laws and regulations of the conventional financial system. The findings of this study suggest that the government should establish a separate regulatory body for monitoring the IFI’s functions so that they can perform their activities smoothly in the congenial environment in Bangladesh. JEL Classification Codes: G10, G21, G23.

scholarly journals Empowerment of Farmers toward Corporate Implementation

2021 ◽  
Vol 232 ◽  
pp. 01032
Author(s):  
Siti Sehat Tan ◽  
Lira Mailena
Keyword(s):  
Human Resources ◽  
Agricultural Sector ◽  
Relevant Literature ◽  
Secondary Data ◽  
Institutional Development ◽  
Government Programs ◽  
History Of ◽  
The Government ◽  
Group Association

During the last few years, farmer empowerment has been the main agenda of government programs to achieve the agricultural sector revitalization, which focuses more on human resources and farmer institutional development. Further, through the Minister of Agriculture, the government program with a target of establishing 350 farmer corporations by 2024 is a necessity if farmer groups are built with the support of the skilled and market-oriented. The assessment used a qualitative approach that focuses on data related to the assessment problem. Secondary data were obtained from various relevant literature to explore the correlationbetween empirical facts and government programs and regulations. The case study was conducted in October 2019 at Gapoktan Sidomulyo in Godean District, Yogyakarta Province. The results of the study showed that empirically, Gapoktan Sidomulyo is the advanced Farmer Group Association that successfully managed the farmer institution since it was supported by its history of formation and skilled human resources who were always market-oriented. On the other hand, the management of Gapoktan Sidomulyo still did not want to transform the Gapoktan into a legal business entity because it was considered more complicated and did not provide benefits.

scholarly journals The Impact Of The Financial Sector Reforms On Savings, Investments And Growth Of Gross Domestic Product (GDP) In Ghana

2011 ◽  
Vol 7 (10) ◽  
Author(s):  
Gordon Newlove Asamoah
Keyword(s):  
Financial Institutions ◽  
Financial Liberalization ◽  
Financial Sector ◽  
Sector Reform ◽  
Reform Program ◽  
Financial Sector Reform ◽  
The Government ◽  
Investment Models ◽  
Recovery Program ◽  
The Impact

As part of reforms initiated in the mid 1980s, Ghanas financial sector was subjected to a major and extensive restructuring under two financial sector adjustment programs (FINSAP 1 and 2) and the reform for Non- bank financial institutions credit. Having determined that restructuring of the financial system was indispensable to the success of the Economic Recovery Program (ERP) begun in 1983, the government, embarked upon a financial sector reform program (FINSAP) in 1988. Against this background therefore there has been a wave of financial sector reforms partly in response to international political pressures and strive for globalization. This study was to examine financial liberalization as it was carried out in Ghana and to make an assessment of the impact of this policy on savings, investment and the growth of income (GDP) in the Ghanaian economy. This study attempted to investigate the question: How does financial liberalization affect interest rate, savings, investment and GDP in Ghana? Regression Analysis and savings-investment models were used to evaluate how the financial sector impacts on economic growth.

scholarly journals HAK MEREK SEBAGAI JAMINAN GADAI UNTUK PERMODALAN UMKM INDUSTRI KREATIF KERAJINAN BATIK

2020 ◽  
Vol 18 (2) ◽  
Author(s):  
Miftahur Rahman Hakim ◽  
Nur Kholidah
Keyword(s):  
Content Analysis ◽  
Human Resources ◽  
Financial Institutions ◽  
Industrial Development ◽  
Descriptive Analysis ◽  
Creative Industries ◽  
Creative Industry ◽  
Library Research ◽  
The Government ◽  
Stock Of Knowledge

<p><em>Creative industries are industries that intensify information and creativity by relying on stock of knowledge and ideas from Human Resources (HR). One type of creative industry is the batik creative industry. Industrial development was hindered by the inability to access capital, whether provided by the government or other financial institutions. The purpose of this study was to initiate the utilization of batik industry brand rights as collateral for pawning. This type of research uses library research (library research) obtained from literature sources through library research. Then use descriptive methods. Data collection techniques in this study are document studies. Then the data analysis includes: Descriptive Analysis (Analysis Descriptive) and Content Analysis (Content Analysis). The results of the study show that brand rights can be used as collateral for pawning. The use of brand rights as collateral is expected to support the growth of the UMKM batik creative industries in Pekalongan.</em></p><p><strong><em>Keywords:</em></strong></p><p><em><em>brand rights; collateral; mortgage.</em><br /></em></p>

scholarly journals Impact of Legal Incentives on “Credit Fraud” Criminal Offence

2021 ◽  
Vol 6 (1) ◽  
pp. 159
Author(s):  
Rezana Balla ◽  
Kamarul Bahari Yaakub
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Financial Education ◽  
Financial Sector ◽  
Financial Industry ◽  
Criminal Offense ◽  
Consumer Loans ◽  
Raising Awareness ◽  
History Of ◽  
The Common

Currently, the number of financial institutions has been increased in Albania, which provides Albanian citizens with access to various financial services, mainly to obtain financing services in the form of microcredit. Given the history of our people, not all the Albanian citizens have had opportunity to have access and to benefit from various financial services. Denial of financial services is an issue that has affected not only Albania, but also other small Balkan countries. The reasons for this denial are numerous, but among them, we can distinguish the lack of lending experience, as one of the common reasons for being excluded in these countries from the development of the financial sector. Taking into consideration that, the growth of financial institutions led to the growth of financial services by raising awareness and financial education of citizens. Finally, the Bank of Albania , as the supervisor of financial activities, intends to set a ceiling on the interest of consumer loans provided by non-bank financial institutions and commercial banks in Albania. This paper aims to present through a professional legal treatment all the challenges of the legal and institutional framework of the Bank of Albania, itself in undertaking this initiative. The questions we intend to answer through this paper are: Is the Bank of Albania legitimized to set a ceiling interest rate for consumer credit? What are the benefits or challenges that this initiative will bring to the financial sector? How will this regulation affect the criminal offense of "Credit Fraud"? How will the financial industry be designed after the implementation of the initiative? Will it have any impact on customer beneficial? etc.

scholarly journals KONTRIBUSI FINTECH DALAM MENINGKATKAN KEUANGAN INKLUSIF PADA PERTANIAN (Studi Analisis Melalui Pendekatan Keuangan Syariah Dengan Situs Peer To Peer Lending Pada Pertanian Di Indonesia)

2018 ◽  
Vol 1 (1) ◽  
pp. 1 ◽  
Author(s):  
Hanik Fitriani
Keyword(s):  
Financial Institutions ◽  
Agricultural Sector ◽  
Financial Sector ◽  
Financial Inclusion ◽  
Network Access ◽  
Financial Industry ◽  
The Public ◽  
Digital Era ◽  
The Government ◽  
Financial Technology

Abstract: Currently the development of technology is growing very rapidly and has entered into all sectors, including the financial sector. With the technology to the financial sector, it is slowly transforming the financial industry into the digital era. The combination of Financial Technique (Fintech) with financial institutions, especially sharia financial institutions, is considered to increase financial inclusiveness in agriculture. Inclusion is a situation where the public is not aware of access to digital finance.The emergence of problems in the first agricultural sector due to lack of land, secondly due to lack of farmer capital and thirdly due to lack of land processors made modernization of technology create agricultural financial technology as an alternative to increase financial inclusion in agriculture.The use of fintech agro in Indonesia is felt to be lacking because of constraints such as lack of literacy to the community, poorly trained human resources, lack of legislation and lack of network access to remote villages. Financial inclusion can increase with the support of the government to improve supporting facilities and infrastructure for the use of fintech agro in Indonesia. الملخص: في الوقت الحالي ينمو تطوير التكنولوجيا بسرعة كبيرة وقد دخل في جميع القطاعات، بما في ذلك القطاع المالي. ومع دخول التكنولوجيا إلى القطاع المالي، فإنها تحول الصناعة المالية إلى العصر الرقمي. ويشعر مزيج من التقنية المالية  مع المؤسسات المالية، وخاصة المؤسسات المالية الشرعية، تزيد التمويل في مجال الزراعة. ظهور مشاكل في القطاع الزراعي الأول بسبب عدم وجود الأراضي، وثانياً بسبب نقص رأس المال الفلاحي، وثالثاً بسبب عدم وجود معالجي الأراضي، أدى تحديث التكنولوجيا إلى خلق التكنولوجيا الزراعية المالية كبديل لزيادة الشمول المالي في الزراعة. ومن المعتقد أن استخدام التكنولوجيا الزراعية في إندونيسيا يفتقر إلى القيود بسبب الافتقار إلى معرفة القراءة والكتابة لدى المجتمع، والموارد البشرية المدربة تدريجيًا، وعدم وجود تشريعات، وعدم الوصول إلى الشبكة إلى القرى النائية. يمكن أن يزيد الإدماج المالي بدعم من الحكومة لتحسين المرافق الداعمة والبنية التحتية لاستخدام التكنولوجيا الزراعية في إندونيسيا.                                         Abstrak: Saat  ini  perkembangan teknologi berkembang sangat pesat  dan telah masuk ke semua sector, diantaranya adalah sektor keuangan. Dengan masuknya teknologi ke sector keungan, maka secara perlahan  mengubah industry keuangan ke era digital. Perpaduan antara Financial Technlogi (Fintech) dengan lembaga keuangan  khususnya lembaga keuangan syariah dirasa dapat meningkatkan inklusif keuangan pada bidang pertanian. Inklusi adalah sebuah keadaan di mana masyarakat kurang paham terhadap akses keuangan digital.Munculnya permasalahan pada bidang pertanian pertama karena kurangnya lahan, kedua karena kurangya modal petani dan ketiga karena kurangnya pengolah lahan membuat modernisasi teknologi menciptakan teknologi financial  agro pertanian sebagai alternative meningkatkan inklusi keuangan pada bidang pertanian.Penggunan fintech agro di Indonesia dirasa masih kurang karena adanya kendala seperti kurangnya literasi kepada masyarakat, Sumber daya manusia yang kurang dibina, peraturan perundang-undangan yang kurang dan kurangnya akses jaringan ke dalam pelosok desa. Inklusi keuangan bisa  meningkat dengan adanya dukungan dari pemerintah guna peningkatan sarana dan prasarana penunjang untuk penggunaan fintech agro di Indonesia.

scholarly journals Administrative transformations of the cultural heritage protection authorities in Krasnoyarsk Krai (1980-2010)

2021 ◽  
pp. 59-71
Author(s):  
Alisa Sergeevna Ivanova
Keyword(s):  
Cultural Heritage ◽  
Institutional Development ◽  
Krasnoyarsk Krai ◽  
Regional Government ◽  
Heritage Sites ◽  
History Of ◽  
Heritage Protection ◽  
The Government ◽  
State Protection ◽  
Protection Of Cultural Heritage

The subject of this research is the peculiarities of the historical processes of establishment and development of the system of state protection of historical and cultural heritage in the largest Siberian region &ndash; Krasnoyarsk Krai. The author explores the period of institutional development of the system in form of designated institutions since its establishment in the mid-1980s to the present. The object of this research is the system of administrative arrangement and control of the heritage protection authority in Krasnoyarsk Krai. Detailed analysis is conducted on the content of official documents, resolutions and executive orders of the government of Krasnoyarsk Krai, which served as the basic sources on the history of the organization of state protection of historical sites in the region. The author determines the peculiarities of functioning of the system of state protection of cultural heritage sites in Krasnoyarsk Krai, depending on its place in the time-varying administrative hierarchy of regional government. The research is based on the analysis of administrative transformations in the sphere of state protection of heritage through outlining gradual historical stages in the development of control (subordination) system of the cultural and historical l heritage protection authorities in Krasnoyarsk Krai The obtained conclusions lie in the peculiarities of current functioning of the system of state protection of heritage in Krasnoyarsk Krai. This article is first to trace the history of development of the system of state protection of historical and cultural heritage from the perspective of its hierarchical status in administrative governance of the region. It is indicated that the division of the state protection of monuments into an independent structure with separate authority increases the role and significance of the branch of state protection of cultural heritage sites in the region.

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