Analysis of Market Risk Factors for the Performance of Consumer Banking in Pakistan under Financial Crisis 2008

Global financial crisis 2008 has severely impacted on banks and their risk profile. Huge losses were incurred due to volatile risk factors that have shaken the financial and economic system globally. However severity of these losses differs from one region to another region and from one country to another country. In Pakistan, consumer banking is the most affected banking business that has faced considerable losses during and after the financial crisis of 2008, because of the unexpected rise in the nonperforming loans. This study explores the market risk factors, especially volatile part that majorly impacted the performance of the consumer banking in Pakistan in the financial crisis of 2008. It is noticed through studying the literature review that in 2008, when the financial crisis started influencing the banking system in Pakistan, the State Bank of Pakistan (SBP) had substantially increased the interest rate to control the hyperinflation in the country. Literature also indicates that financial crisis of 2008 has also impacted the Foreign Direct Investment (FDI) and Gross Domestic Product (GDP) growth rate of Pakistan. These changes in the financial and economic system show the interconnectedness between these two systems. Unemployment rate is another relevant variable in this context. The aim of this study is to assess the significance of the market risk factors in the ranking order for the performance of the consumer banking in Pakistan, which was identified from the literature review viz. Foreign Direct Investment, GDP Growth Rate, Inflation Rate and Interest Rate Volatility. In our study opinions of the banking professionals about the significance of the market risk factors were obtained through close-end questionnaire with 5 points likert scale for the study. Judgemental sampling was used in order to include experienced and seasoned consumer bankers.  Professionals were selected from fourteen commercial banks of Pakistan. Secondary data of economic indicators were also used to augment and verify the findings of the study. T test is applied to check the significance of the risk factors.The results of our study indicate that all four market risk factors namely GDP Growth Rate, Inflation Rate, Foreign Direct Investment and Interest Rate Volatility were found significant for the success or failure of consumer banking in Pakistan. Descriptive measure of mean was used for the ranking of market risk factor. Interest rate volatility is ranked the highest by the respondents, followed by Inflation, FDI and GDP growth rate. This study concludes that financial crisis have impacted on the consumer banking in Pakistan and market risk factors played significant role in this episode of crises. This study creates value for the policy makers of banking institutions to develop risk management framework in the context of consumer banking by considering contemporary changes in the economic factors. Keywords: Risk Management, Market Risk, Financial Crisis 2008, Consumer Banking

Choosing Wearable Internet of Things Devices for Managing Safety in Construction Using Fuzzy Analytic Hierarchy Process as a Decision Support System

Many safety and health risks are faced daily by workers in the field of construction. There is unpredictability and risk embedded in the job and work environment. When compared with other industries, the construction industry has one of the highest numbers of worker injuries, illnesses, fatalities, and near-misses. To eliminate these risky events and make worker performance more predictable, new safety technologies such as the Internet of Things (IoT) and Wearable Sensing Devices (WSD) have been highlighted as effective safety systems. Some of these Wearable Internet of Things (WIoT) and sensory devices are already being used in other industries to observe and collect crucial data for worker safety in the field. However, due to limited information and implementation of these devices in the construction field, Wearable Sensing Devices (WSD) and Internet of Things (IoT) are still relatively underdeveloped and lacking. The main goal of the research is to develop a conceptual decision-making framework that managers and other appropriate personnel can use to select suitable Wearable Internet of Things (WIoT) devices for proper application/ implementation in the construction industry. The research involves a literature review on the aforementioned devices and the development and demonstration of a decision-making framework using the Fuzzy Analytic Hierarchy Process (FAHP)

Union Budget 2017-18: leading India towards a digital economy

Arun Jaitley’s Budget speech this week had a strong focus on digital economy initiatives, emphasising the Government’s resolve to increase digital transactions and reduce India’s reliance on cash. Sharique Hassan Manazir reviews the announcements, and writes that – if implemented effectively – they will undoubtedly result in significant progress towards the Digital India vision

Impact of the Market Risk Factors on the Consumer Banking in Pakistan in the Financial Crisis 2008

Global financial crisis 2008 has severely impacted on banks and their risk profile. Huge losses were incurred due to systematic risk factors. However severity of these losses differs from one region to another region and from one country to another country. In Pakistan, consumer banking is the most affected banking business that has faced considerable losses during and after the financial crisis of 2008, because of the unexpected rise in the nonperforming loans. This study explores the factors of market risk, especially systematic part. It is noticed through studying the literature review that in 2008, when the financial crisis started influencing the banking system in Pakistan, the SBP had substantially increased the interest rate to control the hyperinflation in the country. Literature also indicates that financial crisis of 2008 has also impacted the GDP growth rate of Pakistan. Unemployment rate is another relevant variable in this context. This study assesses the significance of the market risk factors for the consumer banking in Pakistan, which was identified from the literature review viz. GDP Growth Rate, Inflation Rate and Interest Rate Volatility. In our study opinions of the banking professionals about the significance of the market risk factors were obtained through close-end questionnaire with 5 points likert scale for the study. Judgemental sampling was used in order to include experienced and seasoned consumer bankers.  Professionals were selected from fourteen commercial banks of Pakistan. Secondary data of macroeconomic indicators were also used to augment and verify the findings of the study. T test is applied to check the significance of the risk factors.The results of our study indicate that all three market risk factors namely GDP Growth Rate, Inflation Rate and Interest Rate Volatility were found significant for the success or failure of consumer banking in Pakistan. Descriptive measure of mean was used for the ranking of market risk factor. Interest rate volatility is ranked the highest by the respondents, followed by inflation and GDP growth rate. This study concludes that financial crisis have impacted on the consumer banking in Pakistan and market risk factors played significant role in this episode of crises. This study creates value for the policy makers of banking institutions to develop risk management framework in the context of consumer banking. Keywords: Risk Management, Market Risk, Financial Crisis 2008, Consumer Banking

Reading Auden’s September 1, 1939 as an Anti-War Poem

Wystan Hugh Auden’s “September 1, 1939” has immense potential of being read as an anti-war poem as it depicts horrors of the Second World War. It was included in the volume of his poems entitled Another Time (1940). It was first published in The New Republic issue of October18, 1939.The poem is on a historical and nearly political theme. It is, no doubt, a lyrical poem, mostly reflective in character. Obviously, the date in the caption announces beyond doubt that the poem is concerned with the beginning of the Second World War

Current Challenges in Understanding the Story of Skin Pigmentation — Bridging the Morpho-Anatomical and Functional Aspects of Mammalian Melanocytes

Melanocytes are specialized dendritic melanin producing pigment cells, which have originated from the pluripotent embryonic cells and are termed as neural crest cells (NCC). The primary locations of these cells are basal layer of epidermis and hair follicles. Besides this, they are also found in the inner ear, nervous system, and heart with spatial specific functions. There are other cells able to produce melanin but of different embryonic origin (pigmented epithelium of retina, some neurons, and adipocytes). Melanocytes of the epidermis and hair are cells which share some common structural features but in general they form biologically different populations living in unique niches of the skin. Ultra structurally, melanocytes differ from each other on the basis of their locations and function. Principal function of epidermal melanocytes is photoprotection and thermoregulation by packaging melanin pigment into melanosomes and delivering them to neighboring keratinocytes. It is unfair to think that melanocytes reap all the glory for their role in pigmenting the skin and providing it critical protection against UV damage. They probably play a significant role in diverse physiological functions and their particular functions in all target places are much wider than the melanin synthesis only. Alternation in any structure and function of these pigmentary cells affects the process of pigmentation/melanogenesis which leads to pigmentary disorders like hyperpigmentation or hypopigmentation

Time series study of the sales of non-subsidised contraceptives in Kenya at times of public sector shortage: implications for future sustainability

This paper describes volume trends of non-subsidised contraceptive commodities (NSCC) in Kenya between 2016-2019. We hypothesise that if non-subsidised contraceptive commodities volumes increased at times of public sector shortage then then we might hope for a similar response should public sector supplies reduce in response to an expected decline in donor funding. We find that non-subsidised contraceptive commodities contribute only 2% of total volume, and that these volumes are dominated by emergency contraceptives (EC) and combined oral contraceptives (COC). EC and COC volumes increased significantly during the 2017 nurses’ strike, but not during those periods when the Kenya Medical Supplies Authority (KEMSA) was out of stock. Increases in NSCC volumes were not of sufficient size, however, to compensate for the decline in public sector volumes. In short it appears that the market for NSCC is small and constrained. We recommend that further research is needed to understand why distributors of NSCCs are not able to take advantage of continuing public sector supply shortages

Impact of the Market Risk Factors on the Consumer Banking in Pakistan in the Financial Crisis 2008

Global financial crisis 2008 has severely impacted on banks and their risk profile. Huge losses were incurred due to systematic risk factors. However severity of these losses differs from one region to another region and from one country to another country. In Pakistan, consumer banking is the most affected banking business that has faced considerable losses during and after the financial crisis of 2008, because of the unexpected rise in the nonperforming loans. This study explores the factors of market risk, especially systematic part. It is noticed through studying the literature review that in 2008, when the financial crisis started influencing the banking system in Pakistan, the SBP had substantially increased the interest rate to control the hyperinflation in the country. Literature also indicates that financial crisis of 2008 has also impacted the GDP growth rate of Pakistan. Unemployment rate is another relevant variable in this context. This study assesses the significance of the market risk factors for the consumer banking in Pakistan, which was identified from the literature review viz. GDP Growth Rate, Inflation Rate and Interest Rate Volatility. Opinions of the banking professionals about the significance of the market risk factors were obtained through close-end questionnaire with 5 points likert scale for the study. Judgemental sampling was used in order to include experienced and seasoned consumer bankers.  Professionals were selected from fourteen commercial banks of Pakistan. Secondary data of macroeconomic indicators were also used to augment and verify the findings of the study. T test is applied to check the significance of the risk factors.The results of our study indicate that all three market risk factors namely GDP Growth Rate, Inflation Rate and Interest Rate Volatility were found significant for the success or failure of consumer banking in Pakistan. Descriptive measure of mean was used for the ranking of market risk factor. Interest rate volatility is ranked the highest by the respondents, followed by inflation and GDP growth rate. This study concludes that financial crisis have impacted on the consumer banking in Pakistan and market risk factors played significant role in this episode of crises. This study creates value for the policy makers of banking institutions to develop risk management framework in the context of consumer banking. Keywords: Risk Management, Market Risk, Financial Crisis 2008, Consumer Banking

Wandering Gallbladder: A Case Report

Wandering gallbladder is a variation in the biliary anatomy described in the literature as being attached only by the cystic duct and its mesentery. Its propensity for torsion places it at risk for necrosis. There have been over 500 cases of gallbladder torsion reported in the literature but less than 10 reports of wandering gallbladder. To our knowledge there have been no reports of cholecystectomy for wandering gallbladder found incidentally. A 51-year-old male from Pakistan with hypertension, gastroesophageal reflux disease, high cholesterol, and renal stones presented with a chief complaint of right upper quadrant abdominal pain. Abdominal ultrasound was significant for a mildly distended gallbladder with small gallstones in the gallbladder fundus. The patient was discharged with a diagnosis of cholelithiasis and scheduled for laparoscopic cholecystectomy as an outpatient. During the procedure, upon entering the abdominal cavity, a gallbladder was not seen in the gallbladder fossa. It was attached to the cystic duct, thickened with a long mesentery and not attached to the liver. There were no signs of torsion. The patient was treated successfully and discharged home with an uncomplicated hospital course. Diagnosis can be challenging because the clinical presentation can be variable. Fewer than a dozen cases have been reported where the diagnosis was made preoperatively. Early diagnosis of gallbladder torsion with cholecystectomy is essential to avoid the deadly complications of perforation and bilious peritonitis. Understanding the pathophysiology, clinical findings, and treatment can have a broad impact across biliary surgery in preventing these complications