Financial Sector Development and Economic Growth in Ethiopia: Literature Review

The financial sector and its role in the process of economic development have attracted notable attention since the early 1990s. Long-term sustainable economic growth depends on the ability to raise the rates of accumulation of physical and human capital, to use the resulting productive assets more efficiently, and to ensure the access of the whole population to these assets .right now, Ethiopian financial sector is not serving needs of the economy Most of the economies in the country didn’t efficiently mobilize their domestic financial resources These phenomenon’s can in part be attributed to lack of a well developed financial sector (such as capital markets, banks, and other financial institutions) and the poor economic policies and incompetent “institutions” in the country. This article presents the general overview of Financial Sector Development and Economic Growth in Ethiopia by reviewing national bank of Ethiopian annual reports of the year 2008-2018 and articles on development of financial sector in Ethiopia for open discussion. Keywords:Financial Sector, Economic Development, National Bank of Ethiopian Annual Reports, Ethiopia DOI: 10.7176/RJFA/10-5-01 Publication date:March 31st 201

ANALISIS KINERJA KEUANGAN DITINJAU DARI ASPEK RISIKO LIKUIDITAS, RASIO RENTABILITAS, DAN RASIO PERMODALAN PADA PT BANK DANAMON INDONESIA Tbk. PERIODE TAHUN 2014-2018

This study aims to describe the results of the ranking and calculation of bank financial performance based on Liquidity Risk, Profitability Ratio and Capital Ratio at PT Bank Danamon Indonesia Tbk. period of 2014 - 2018. This Final Project uses descriptive writting method with a qualitative and quantitative approach and in collecting data using the published documentation method. This study uses secondary data obtained from PT Bank Danamon Indonesia Tbk. in the form of financial statements. Variables in this study are on liquidity risk using a Loan to Deposit Ratio (LDR), profitability ratio using Return On Assets (ROA) and Net Interest Margin (NIM). ), while the capital ratio uses the Capital Adequacy Ratio (CAR). The results of the study show that financial performance at PT Bank Danamon Indoneisa Tbk. period of 2014 - 2018 viewed from liquidity risk (LDR) is ranked 3 (three) or Moderate. ROA is ranked 1 (one) or very adequate in 2014, in 2015 was ranked 2 (two) or adequate, and in 2016-2018 was ranked 1 (one) or very adequate. NIMs in 2014-2018 were ranked 1 (one) or very adequate even though they experienced an increase and decrease in the value of the ratio and CAR in 2014-2018 was ranked 1 (one) or very adequate. The results of this study are expected to provide an overview to the bank stakeholders regarding the soundness of the bank

The Federal Criminal Forfeiture Statute: Reining in The Government’s Previously Unbridled Ability to Seize Pretrial Assets

American organized crime movies are synonymous with a climatic raid and seizure of illegal assets – typically drugs and guns. But what is really encompassed within the Government’s grasp; what are the “illegal assets”? The truth is that the Government has a wide reach and the criminal seizures don’t end when the screen goes black and the credits roll. The Federal Criminal Forfeiture Statute, as applied to RICO and CCE cases, typically entails the forfeiture of any asset connected to the underlying crimes. Given that criminal forfeiture penalties have ethical and constitutional considerations, it is not surprising to learn that a recent United States Supreme Court decision has scaled back the Government’s power over its ability to seize. This Note will provide an overview of the Federal Criminal Forfeiture Statute, as well as RICO and CCE in order to provide context, will detail the case law history of the statute in application, will examine the ethical and constitutional considerations, and will question the future of the controversially applied law

FlightGoggles: A Modular Framework for Photorealistic Camera, Exteroceptive Sensor, and Dynamics Simulation

FlightGoggles is a photorealistic sensor simulator for perception-driven robotic vehicles. The key contributions of FlightGoggles are twofold. First, FlightGoggles provides photorealistic exteroceptive sensor simulation using graphics assets generated with photogrammetry. Second, it provides the ability to combine (i) synthetic exteroceptive measurements generated in silico in real time and (ii) vehicle dynamics and proprioceptive measurements generated in motio by vehicle(s) in a motion-capture facility. FlightGoggles is capable of simulating a virtual-reality environment around autonomous vehicle(s). While a vehicle is in flight in the FlightGoggles virtual reality environment, exteroceptive sensors are rendered synthetically in real time while all complex extrinsic dynamics are generated organically through the natural interactions of the vehicle. The FlightGoggles framework allows for researchers to accelerate development by circumventing the need to estimate complex and hard-to-model interactions such as aerodynamics, motor mechanics, battery electrochemistry, and behavior of other agents. The ability to perform vehicle-in-the-loop experiments with photorealistic exteroceptive sensor simulation facilitates novel research directions involving, e.g., fast and agile autonomous flight in obstacle-rich environments, safe human interaction, and flexible sensor selection. FlightGoggles has been utilized as the main test for selecting nine teams that will advance in the AlphaPilot autonomous drone racing challenge. We survey approaches and results from the top AlphaPilot teams, which may be of independent interest.Comment: Initial version appeared at IROS 2019. Supplementary material can be found at https://flightgoggles.mit.edu. Revision includes description of new FlightGoggles features, such as a photogrammetric model of the MIT Stata Center, new rendering settings, and a Python AP

Impediments to resolvability of Banks. Banking Union Scrutiny. PE 634.360 2019

This paper gives an overview of the seven aspects of resolvability defined in 2019 by the Single Resolution Board, and then assesses progress in two key areas, based on evidence gathered from public disclosures made by the 20 largest euro-area banks. The largest banks have made good progress in raising bail-in capital. Changes to banks’ legal and operational structures that will facilitate resolution will take more time. Greater transparency would make it easier to achieve the policy objective of making banks resolvable. This document was provided by the Economic Governance Support Unit at the request of the ECON Committee

Lady Justice Cannot Hear Your Prayers

The Islamic finance industry continues to grow quickly as the appetite for everything, from Sharia-compliant home mortgages and car loans to sophisticated financial products, increases. This growth has triggered an interest in sukuk, bond-like financial instruments. And while the international market for sukuk has long been dominated by foreign issuers and English law, the attraction of a niche market compatible with U.S. federal and international securities laws may propel increased participation by U.S. issuers and investors who wish to transact under U.S. federal and state laws. As with all Islamic financial products, sukuk transactions inherently pose a Sharia compliance risk. Thus far, religious compliance has not posed a significant barrier to the international market given that most sukuk transactions are governed by secular laws that incorporate Sharia law or laws that are not averse to interpreting religious law. U.S. jurisprudence, however, has strongly avoided religious questions that would require courts to interpret religious doctrines. While the application of the religious question doctrine helps maintain the separation of church and state, it can withhold secular judicial remedies from parties to a commercial agreement that incorporates religious tenets, such as a sukuk transaction. Drawing upon the example of Dana Gas PJSC, a company that sued to have its own sukuk certificates declared invalid and related payment obligations declared unenforceable due to the transaction’s alleged noncompliance with Sharia law, this Note explores the Establishment Clause obstacles to adjudication of a similar claim under New York law. Ultimately, this Note concludes that the Establishment Clause bars adjudication of the merits of such a dispute and proposes the adoption of legislation, at the state and federal level, that would permit secular courts to “certify” religious questions to party-selected religious tribunals. Pending passage of such litigation, commercial parties are encouraged to utilize alternative dispute resolution