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.

Polish banking scandal may lead to more consolidation

2018 ◽  
Keyword(s):  
Interest Rates ◽  
Financial Institutions ◽  
Banking Sector ◽  
Financial Sector ◽  
Household Consumption ◽  
Financial Supervision ◽  
External Shocks ◽  
Content Type ◽  
Near Term ◽  
Loan Growth

Significance Allegations of bribery and corruption against the former chairman of Poland’s Financial Supervision Authority (KNF), the financial sector regulator, have stoked both political and regulatory tensions. Impacts The banking sector is resilient to domestic and external shocks, but a slowdown in GDP could dampen household loan growth next year. Further sector consolidation is likely and would further underline the dominance of large, state-backed financial institutions. Interest rates are unlikely to be raised before end-2019 at the earliest, providing some support to household consumption in the near term.

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 Curiosity: A behavioral biology perspective

2021 ◽  
Author(s):  
Coltan Scrivner
Keyword(s):  
Empirical Work ◽  
Psychological Research ◽  
Behavioral Biology ◽  
History Of Research ◽  
Different Types ◽  
History Of ◽  
Evolutionary Aspects ◽  
Rich History ◽  
Evolutionary Perspectives

Since Berlyne’s groundbreaking work in the 1960’s, curiosity has been a popular topic for psychological research. Despite a rich history of research, scientists have not been able to agree upon a single definition or taxonomy of curiosity. These diverging perspectives have led to a breadth of research that has yet to be integrated under one framework. Moreover, most research on curiosity has focused on neural mechanisms and ontogenetic characteristics, while the evolutionary aspects of curiosity have received little attention. I propose that research on curiosity can benefit from an evolutionary perspective, and more broadly from a biological perspective on information-gathering behavior. In this chapter, I synthesize the literature on curiosity from the perspective of behavioral biology – i.e., Tinbergen’s four questions. The behavioral biology framework provides a powerful lens through which questions about behavior can be asked and iterative empirical work and theoretical construction can take place. In particular, I argue that evolutionary perspectives on curiosity can help identify the “joints” of nature at which curiosity may be carved. By identifying the function of different types of

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.

Tadeusz Tomaszewski and His Theory of Action

1996 ◽  
Vol 1 (1) ◽  
pp. 51-55 ◽  
Author(s):  
Maria Materska
Keyword(s):  
Theory Of Action ◽  
Scientific Disciplines ◽  
History Of

Tadeusz Tomaszewski, born in 1910, graduate of the Jan Kazimierz University, Lvov, doctor honoris causa of Marja Sklodowska-Curie University, Lublin, is an exceptional figure in the history of Polish psychology. His scientific accomplishments and organizational talents, multipled by the achievements of his students, had a decisive impact on the shape and prestige of Polish psychology among other scientific disciplines and determined the rank of Polish psychology in the international arena.

INTERACTION OF THE NATIONAL ECONOMY OF UKRAINE WITH INTERNATIONAL CREDIT AND FINANCIAL ORGANIZATIONS

2017 ◽  
Author(s):  
Serhii Voitko ◽  
◽  
Yuliia Borodinova ◽  
Keyword(s):  
Financial Institutions ◽  
National Economy ◽  
Financial Support ◽  
Global Economy ◽  
Financial Sector ◽  
Negative Consequences ◽  
International Financial Institutions ◽  
The Future ◽  
International Credit

The article examines the interaction of the national economy of Ukraine with international credit and financial organizations, evaluates the positive and negative consequences and identifies possible areas for further cooperation. The role of international credit and financial organizations in the development of the global economy is analyzed. Today, international financial institutions have taken a leading place among institutions that provide financial support and contribute to the implementation of necessary reforms aimed at developing enterprises in various sectors of the economy and strengthening the country's financial sector as a whole. The importance of cooperation between Ukraine and international financial institutions for the development of the country's economy has been determined. The problems and directions of development of cooperation with leading credit and financial organizations in modern conditions are identified. Despite the presence of certain shortcomings, cooperation between Ukraine and international credit and financial organizations will continue in the future.

How Finance Colonised Aotearoa: A Concise Counter-History

2019 ◽  
Vol 7 ◽  
pp. 41
Author(s):  
Catherine Cumming
Keyword(s):  
Financial Institutions ◽  
The State ◽  
Colonial History ◽  
Financial Instruments ◽  
Financial History ◽  
Early Colonial ◽  
History Of

This paper intervenes in orthodox under-standings of Aotearoa New Zealand’s colonial history to elucidate another history that is not widely recognised. This is a financial history of colonisation which, while implicit in existing accounts, is peripheral and often incidental to the central narrative. Undertaking to reread Aotearoa New Zealand’s early colonial history from 1839 to 1850, this paper seeks to render finance, financial instruments, and financial institutions explicit in their capacity as central agents of colonisation. In doing so, it offers a response to the relative inattention paid to finance as compared with the state in material practices of colonisation. The counter-history that this paper begins to elicit contains important lessons for counter-futures. For, beyond its implications for knowledge, the persistent and violent role of finance in the colonisation of Aotearoa has concrete implications for decolonial and anti-capitalist politics today.  

GENERAL CHARACTERISTIC OF TEA IN THE MARKETS OF TURKESTAN IN THE XIX-XX CENTURIES

2019 ◽  
Vol 16 (2) ◽  
pp. 55-60
Author(s):  
Maxfuza Mamatova ◽  
Keyword(s):  
General Characteristic ◽  
General Description ◽  
Different Types ◽  
History Of

This article deals with the general description of tea in the markets of Turkestan,provides an overview of the history of our country in the XIX-XX centuries, which based on archival materials and sources. This article tells about the types and varieties of tea consumed by our people, about the different types of tea that replace tea, where they were brought from, the meanings of their historical names and the consumption that was loved by our people.

Zum Einsatz von Definitionen in Pädagogik und Erziehungswissenschaft

2019 ◽  
Vol 95 (2) ◽  
pp. 145-161
Author(s):  
Thomas Mikhail
Keyword(s):  
Historical Research ◽  
Educational Science ◽  
Different Types ◽  
History Of ◽  
Academic Genre

Abstract On the Use of Definitions in Pedagogy and Educational Science. A Historical Journey with Systematic Intent In the academic genre of pedagogy and educational science, definitions were used from the very beginning. The question is if it is possible to differentiate between types of definitions within the history of these sciences. To answer this question the paper revives two different types of traditional definitions in order to generate a typology of definition usage. The typology can be used as a heuristic instrument for further systematic and historical research.

FORMATION AND DEVELOPMENT OF RURAL ARCHITECTURE IN THE FORMER KETSKAYA VOLOST

2020 ◽  
Vol 22 (2) ◽  
pp. 9-28 ◽  
Author(s):  
E. V. Sitnikova
Keyword(s):  
Cultural Heritage ◽  
18Th Century ◽  
Scientific Methods ◽  
Architectural Analysis ◽  
Tomsk Region ◽  
History Of ◽  
The Rich ◽  
Rural Architecture ◽  
The Village ◽  
Rich History

The article considers the historical and cultural heritage of villages of the former Ketskaya volost, which is currently a part of the Tomsk region. The formation of Ketsky prison and the architecture of large settlements of the former Ketskaya volost are studied. Little is known about the historical and cultural heritage of villages of the Tomsk region and the problems of preserving historical settlements of the country.The aim of this work is to study the formation and development of the village architecture of the former Ketskaya volost, currently included in the Tomsk region.The following scientific methods are used: a critical analysis of the literature, comparative architectural analysis and systems analysis of information, creative synthesis of the findings. The obtained results can be used in preparation of lectures, reports and communication on the history of the Siberian architecture.The scientific novelty is a study of the historical and cultural heritage of large settlements of the former Ketskaya volost, which has not been studied and published before. The methodological and theoretical basis of the study is theoretical works of historians and architects regarding the issue under study as well as the previous  author’s work in the field.It is found that the historical and cultural heritage of the villages of the former Ketskaya volost has a rich history. Old historical buildings, including religious ones are preserved in villages of Togur and Novoilinka. The urban planning of the villages reflects the design and construction principles of the 18th century. The rich natural environment gives this area a special touch. 

Sign in / Sign up

Export Citation Format

Share Document