International Evidence on Cost, Revenue, and Profit Efficiency of Conventional and Islamic Banks

Bank efficiency is important in achieving the competitive edge for survival in a globalised banking industry. Conventional and Islamic banks operate on different principles in maximizing the wealth of their shareholders and are subjected to the competitive regulatory environment. Minimising cost and maximising revenues and profits to ensure survival are the two aims of all banks. These aims ensure the efficiency of financial sector and contribute to the overall economic growth. An important issue that needs to be addressed is the differences in the level of efficiency of these banks. In spite of the overwhelming empirical evidence on the efficiency of conventional banks, to date, there is no comprehensive evidence on the comparative cost, revenue, and profit efficiency of conventional and Islamic banks. This study fills this gap by analysing and comparing the efficiencies of Islamic and conventional banks in 21 countries during the period 1990-2005 The cost, revenue, and profit efficiency of Islamic banks and conventional banks are analyzed based on size, age, and region. The average and over-time efficiency for these banks are analyzed using Data Envelopment Analysis (DEA) and Financial Ratios. Overall cost and profit efficiencies are ascertained using the Stochastic Frontier Approach (SFA). The findings suggest that there are no significant differences between the overall efficiency results of conventional and Islamic banks irrespective of the method of analysis. Based on the documented evidence on efficiency of conventional banks, these findings imply that the banking transactions compliant with the Shari'ah are not an impediment to efficiency of Islamic banks. However, there is a substantial avenue to fhther improve the cost, revenue and profit efficiencies in both the banking systems. The DEA based findings show no significance difference in average efficiency scores between big and small banks and between new and old banks in both the banking streams. However, geographical location explains the significant differences in revenue and profit efficiency. Further, the results show that, on average, banks are better in utilising their resources than in generating revenues and profits. In general, more inefficiency comes from the revenue side and banks in both banking streams need to further improve their revenue efficiency. The evidence, based on SFA, suggests no significant differences between the cost and profit efficiency scores between conventional and Islamic banks based on size, age, and region. Similar evidence is observed from the Financial Ratios analysis.Overall, the results on the efficiency of conventional and Islamic banks are consistent with the documented literature. The robustness of the results has been tested based on single-&untry analysis and dso a group of seIe&ted countries representing relatively less-developed and more-developed countries. Except for minor differences the results of these tests are consistent with the overall results, further substantiating the fact that there are no significant differences in cost, revenue and profit efficiency of conventional and Islamic banks

Nature of Chemisorption on Titanium Carbide and Nitride

Extensive density-functional calculations are performed to understand atomic chemisorption on the TiC(111) and TiN(111) surfaces, in particular the calculated pyramid-shaped trends in the adsorption energies for second- and third-period adatoms. Our previously proposed concerted-coupling model for chemisorption on TiC(111) is tested against new results for adsorption on TiN(111) and found to apply on this surface as well, thus reflecting both similarities and differences in electronic structure between the two compounds.Comment: 7 pages, 4 figures, conference proceeding presented at IWSP-2005 (Polanica Zdoj, Poland, 2005), submitted to Surf. Sci. (2005

Surface spin flip probability of mesoscopic Ag wires

Spin relaxation in mesoscopic Ag wires in the diffusive transport regime is studied via nonlocal spin valve and Hanle effect measurements performed on permalloy/Ag lateral spin valves. The ratio between momentum and spin relaxation times is not constant at low temperatures. This can be explained with the Elliott-Yafet spin relaxation mechanism by considering the momentum surface relaxation time as being temperature dependent. We present a model to separately determine spin flip probabilities for phonon, impurity and surface scattering and find that the spin flip probability is highest for surface scattering.Comment: 5 pages, 4 figure

A global survey on trends in advanced practice and specialisation in the pharmacy workforce

OBJECTIVES: Despite the increasingly complex care and demanding health challenges shaping pharmacy, little work has been carried out to understand the global status of advanced and/or specialised pharmacy practice scopes and the models in which they exist. This study aims to describe the current global status of initiatives relating to advancement of pharmacy practice. METHODS: A global survey was conducted between January and May 2015 to collect country‐level data from member organisations of the International Pharmaceutical Federation (FIP), and national‐level contacts from regulatory, professional and government agencies or universities; data requests were sent to 109 countries. The collected data were triangulated (comparing multiple sources from single countries, e.g.), cleaned and analysed by descriptive and comparative statistics. KEY FINDINGS: Full data sets from 48 countries and territories were obtained. The findings demonstrate varying systems of advanced pharmacy practice and specialisation often linked to income level. The study found that there are variations within terminology and definitions, frameworks for specialisation and advanced practice, professional recognition mechanisms and benefits across countries. CONCLUSIONS: This survey of 48 countries and territories was the first of its kind to describe the range of specialisation and professional recognition systems for advanced pharmacy practice worldwide. Despite the variance, it is clear from this global study that professional advancement and the recognition of advancement in practice are developing around the world and this could be due to the increasingly complex nature of pharmaceutical care delivery and a consequent need to be able to endorse professional capabilities

Trends in advanced practice and specialisation in the global pharmacy workforce: a synthesis of country case studies

OBJECTIVES: This study aims to gain a better understanding of the drivers and barriers to the development of advanced practice and specialised systems around the world. Through the synthesis of in‐depth country case studies, this paper aims to identify current models of advanced practice and specialisation in pharmacy and illustrate trends, drivers and barriers in policy development. This is the first analysis of its kind to examine pharmacy specialisation and advanced practice in this depth from a global perspective. METHODS: A synthesis of country case studies was carried out. The country case study template was reviewed and approved by an expert working group drawn from a cross section of International Pharmaceutical Federations (FIP) experts and special‐interest groups. FIP member organisations and country‐level contacts from regulatory, professional and government agencies and universities were approached to contribute to the case study database. The data were collected between January and May 2015. Descriptive comparative analysis and qualitative thematic analysis were both used to analyse the data. KEY FINDINGS: Case study submissions were received from 17 countries. The findings demonstrate that the pace and depth of change in advanced practice and specialisation are occurring at different rates across countries and regions, although many countries appear to be moving towards recognising advanced and specialised practice of pharmacists and developing frameworks and/or formalised recognition systems. CONCLUSIONS: Country‐specific examples are useful in identifying factors that may contribute to the rate at which developments in advanced practice and specialisation in pharmacy are taking place and enable progress in around the world

Advancing Tobacco Dependence Treatment Services in the Eastern Mediterranean Region : International collaboration for training and capacity-building

Tobacco use negatively affects health and is a major risk factor for non-communicable diseases (NCDs). Today, tobacco use ranks third among risk factors in North Africa and the Middle East in terms of disease burden. Despite the established need for these services, tobacco dependence treatment (TDT) services are still inadequate in the Eastern Mediterranean region (EMR). Among the main challenges hindering their expansion is the current lack of training opportunities. The provision of training and capacity-building—a key enabler of TDT—offers an excellent catalyst to launch TDT services in the region. This review discusses the need for TDT training in the EMR and describes a model for providing regional evidence-based training in line with international standards. The King Hussein Cancer Center in Amman, Jordan, is the regional host for Global Bridges, a worldwide TDT initiative. Using this model, they have trained 1,500 professionals and advocates from the EMR over the past three years

Band structure of (Sr3Sc2O5)Fe2As2 as a possible parent phase for new FeAs superconductors

By means of first-principles FLAPW-GGA calculations, we have investigated the electronic properties of the newly synthesized layered phase - (Sr3Sc2O5)Fe2As2. The electronic bands, density of states and Fermi surface have been evaluated. The resembling of our data for (Sr3Sc2O5)Fe2As2 with band structure pictures of known FeAs superconducting materials may be considered as the theoretical background specifying the possibility for (Sr3Sc2O5)Fe2As2 to become a parent phase for new FeAs superconductors.Comment: 10 pages, 4 figures, 3 table

Transforming Pharmacy and Pharmaceutical Sciences Education in the Context of Workforce Development

KEY MESSAGES: 1.1 The continued development of pharmacy services and the pharmaceutical sciences relies on a well educated, competent, sufficient and well distributed pharmaceutical workforce. 1.2 There is no workforce without education. It is fundamental for the international community to agree on how pharmaceutical workforce competency is developed and assured through initial and subsequent professional education. 1.3 The concept of a continuously competent workforce is of fundamental interest for professional leadership bodies and stakeholders. 1.4 As FIP member organisations drive the development of the profession at the national level, they should always consider encompassing an education component [initial education and Continuing Professional Development (CPD)/Continuing Education (CE)] into their strategies. 1.5 FIP brought together global health and pharmacy leaders from across the world to set the future milestones for pharmaceutical education in the context of workforce development during an exceptional event, which took place in Nanjing, China, on 7 and 8 November 2016: the Global Conference on Pharmacy and Pharmaceutical Sciences Education — "Creating a global vision for a global workforce". 1.6 The conference set the future milestones for education and workforce development of pharmacists and pharmaceutical scientists, and created a global vision for transformative pharmacy and pharmaceutical sciences education. 2. PRINCIPAL OUTCOMES: Following extensive consultation, three milestone documents were presented and adopted at the global conference. Participants at the conference were able to influence and contribute to them. These are: 2.1 A Global Vision for Education and Workforce that provides a description of the future directions of our profession and how education can support the evolution of science and practice. 2.2 A set of 13 Pharmaceutical Workforce Development Goals (PWDGs) which aim to facilitate the implementation of the global vision through a series of measurable, feasible and tangible goals. 2.3 A set of 67 statements on Pharmacy and Pharmaceutical Sciences Education ("the Nanjing Statements") that describe an envisioned future for education, to enable the enhancement of professional education standards worldwide

On the Lifshitz tail in the density of states of a superconductor with magnetic impurities

We argue that any superconductor with magnetic impurities is gapless due to a Lifshitz tail in the density of states extending to zero energy. At low energy the density of states $\nu(E \to 0)$ remains finite. We show that fluctuations in the impurity distribution produce regions of suppressed superconductivity, which are responsible for the low energy density of states.Comment: 4 pages, uuencoded latex file + ps figure file

Electronic band structure, Fermi surface, and elastic properties of new 4.2K superconductor SrPtAs from first-principles calculations

The hexagonal phase SrPtAs (s.g. P6/mmm; #194) with a honeycomb lattice structure very recently was declared as a new low-temperature (TC ~ 4.2K) superconductor. Here by means of first-principles calculations the optimized structural parameters, electronic bands, Fermi surface, total and partial densities of states, inter-atomic bonding picture, independent elastic constants, bulk and shear moduli for SrPtAs were obtained for the first time and analyzed in comparison with the related layered superconductor SrPt2As2.Comment: 8 pages, 4 figure