Accountability Practices of Islamic Banks: A Stakeholders' Perspective

This study explores the concept of accountability in Islamic Banks (IB), which may achieve through disclosure. It aims to measuring the bank’s disclosure levels which contains Sharia, Social and Financial (SSF) as well as determinants and consequences of this disclosure. It moreover aims to identify the gap between Islamic banks’ board and stakeholders concerned with the accountabilities priorities of IBs. To achieve these objectives the researcher conducted six empirical studies. The first three empirical studies uses content analysis to measuring compliance level with Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards as well as measuring the and sharia, social and financial disclosure (SSFD). It furthermore adopts Ordinary Least Squares (OLS) to identify the determinants of SSF reporting related to firm characteristics and corporate governance of Board of Directors (BOD) and Sharia Supervisory Board (SSB). The fourth empirical study uses the same method (manual content analysis) and OLS to measuring the economic consequences of SSFD on the firm value through testing the impacts of disclosure on market capitalization and return on assets. The fifth empirical study adopts questionnaire as well as Structural Equation Modelling (SEM) to measures the non-economic consequences of SSFD though surveying the perceptions of stakeholders who deal with IBs about the increasing SSFD on loyalty; trust and satisfaction. Finally, the sixth empirical study uses questionnaire to explore the consequences of SSF practices on the perceptions 600 stakeholders who deal with IBs and non-customers who do not deal with IBs. Highlighting the distinctions between economic and non-economic consequences of disclosure in the study enables the researcher to obtain greater insights into the implications of SSF reporting. Moreover, exploring accountability practices from different viewpoints (management, stakeholders and non-customers) and based on different methods (content analysis and questionnaire) allows the researcher to obtain greater insights into IBs accountabilities’ practices. This study provides several interesting findings. With regard to the disclosure and compliance levels, the study finds a variation between IBs in the number of SSFs disclosed, with a notably low level of non-financial reporting (Sharia and social). It also finds high compliance level with AAOIFI standards related to financial and Sharia reporting and low compliance levels with social reporting requirements. Concerning with the determinants of disclosure; the analysis shows positive significant association of disclosure levels with existing Sharia auditing department; auditor; size and profitability. It also finds that corporate governance mechanisms play an important role in improving SSF reporting. The analysis indicates that corporate governance mechanism of board of directors (BOD) as well as Sharia supervisory board (SSB) are the main determinants behind the disclosure levels for IBs such as SSB size, SSB reputation; BOD independence, duality in position and ownership structure. Concerned with the economic consequences of disclosure, the study finds that Sharia, social and overall disclosures have a positive impact on Firm Value (FV) based on the accounting-based measure (ROA). It moreover finds that Sharia and overall disclosure has a positive significant impact on the FV based on market-based measure (Market Capitalization). It argues that the association between disclosure and FV is sensitive to the category of disclosure and the proxy employed for FV. Consequently, the study provides evidence that the SSF disclosures not derived from the same factors, and both have a different impact on firm value. With regard to the non-economic consequences of disclosure, the results indicate that there is a significant association between disclosure and stakeholders’ trust, satisfaction, and loyalty. The results furthermore indicate that there is a partial mediating of trust and satisfaction in the relationship between disclosure and loyalty. A pyramid of IBs’ accountabilities from stakeholders’ perspectives shows the importance of Sharia, then financial and social accountability for both stakeholders and non-customers. It moreover shows that the main criterion of stakeholder’s selection of IBs was Sharia, financial then social factors. Stakeholders who deal with IBs are satisfied about the practices of these banks. Both of groups believe that IBs may guide by Sharia, financial then social objectives. The results identifies gap between the orientation of IBs’ board based on the disclosure and orientation of stakeholders and non-customers based on their perceptions towards SSF accountability. The main originality for this study is measuring SSFD for most of Islamic banks around the world from different perspectives and methods as well as identifies the main determinants and consequences of this disclosure. These results have several implications for regulators, policy makers, managers, IBs, investors, FASB and AAOIFI. For instance, the present study has revealed that disclosure of SSFs - especially non-financial ones - was limited in many annual reports as well as websites. Therefore, regulatory bodies may identify a minimum level of SSFs to publish by each IB. The study has crucial implications to how IBs may improve its Sharia compliance disclosures to create a competitive advantage. The present study is one of the first to investigate the determinants and consequences for SSF disclosure for IBs based on a holistic model. Moreover, the current study is one of the first to investigate the non-economic consequences for corporate disclosure. The current study has some limitations, in either sample or data; disclosure indices; approach; or in its research methodology, which have to consider as potential avenues for future research

Improvement of dielectric strength and properties of cross-linked polyethylene using nano filler

Power cables insulated with cross-linked polyethylene (XLPE) have been utilized worldwide for distribution and transmission networks. There are several advantages for this type of insulation; it has better electrical, thermal, and mechanical properties compared to other types of insulation in medium and high voltage networks. Many studies aimed to improve the XLPE characteristics through introducing nano fillers to the XLPE matrix. Therefore, this paper investigates the AC (HV) breakdown voltage (dielectric strength) of XLPE after adding nano-sized zeolite (Z) fillers with various concentrations of 1 wt%, 3 wt%, 5 wt% and 7 wt%. The dielectric strength is tested in different temperatures of 30 ⁰C and 250 ⁰C. Additionally, it was tested in low and high salty wet conditions. The dielectric strength of the XLPE has been enhanced by inducing the Z nano filler. The results of the tests were used to train the artificial neural network (ANN) to calculate the dielectric strength of XLPE composites with different concentrations of nano Z filler under different weathering conditions. Thermogravimetric analysis, tensile strength, and elongation at break tests were applied to check the thermal and mechanical characteristics of the samples. Experimental findings show that the optimum concentration of nano Z is 3.64 wt% to enhance the electrical, thermal, and mechanical properties

Assessment of Fences as Noise Barriers: A Case Study in New Cairo, Egypt

Noise levels in Egypt exceed acceptable thresholds due to high population and lack of mandatory sound regulations. According to noise measurements done by “The National Network for Noise Level Measurement in Greater Cairo” most of the areas examined ( main squares, industrial areas, main roads, residential areas, commercial and administrative areas in Cairo governorate)  had shown that noise levels exceeded the standard permissible levels that are identified by the Environmental Law 4/1994 and its executive regulations. Noise levels reached up to 75-85 decibels (dB), which is considered unacceptable as noise levels should not exceed 65 dB during daytime and 55 dB during night due to law number 4/1994. On the other hand, fences are considered a common feature within the Egyptian urban context and are mainly constructed for safety and privacy reasons. This research assesses the effectiveness of existing fences as noise barriers and specifies factors that reduce noise levels. Site measurements and photographs were taken for the fence of a residential compound in new Cairo, where noises arising from surrounding places cause annoyance. MEP services were the main sources of disturbing continuous noise along with social activities and traffic noises. Measurements were performed using TM-102 digital sound level meter. Readings were recorded at various time intervals in front and behind of the fence and noise reduction levels were calculated. Measurements revealed that the fence acts as a good noise barrier and that combined configuration of the fence resulted in the attenuation of noise to acceptable levels

Mixed Statistical Matching Approaches Using a Latent Class Model: Simulation Studies

In the era of data revolution, availability and presence of data is a huge wealth that has to be utilized. Instead of making new surveys, benefit can be made from data that already exists. As, enormous amounts of data become available, it is becoming essential to undertake research that involves integrating data from multiple sources in order to make the best use out of it. Statistical Data Integration (SDI) is the statistical tool for considering this issue. SDI can be used to integrate data files that have common units, and it also allows to merge unrelated files that do not share any common units, depending on the input data. The convenient method of data integration is determined according to the nature of the input data. SDI has two main methods, Record Linkage (RL) and Statistical Matching (SM). SM techniques typically aim to achieve a complete data file from different sources which do not contain the same units. There are a number of traditional matching techniques mentioned in the literature. Among these techniques, there are various approaches for continuous data, but not as many methods for categorical data. This paper proposes a Statistical Matching technique for categorical data based on latent class models within a Bayesian framework. Dirichlet Process Mixture of Product of Multinomial distributions model is used in Statistical Matching throughout this paper which is a fully Bayesian estimation method for latent class models. Performance of the proposed latent class model used for Statistical Matching is evaluated using an empirical comparison with several existing matching procedures based on simulation studies

The problem of supporting and growing small and medium enterprises in ‎Algeria. Reality, limitations and challenges‏ ‏

 إن تجسيد السياسة الصناعية الجديدة من طرف السلطات العمومية ، اقتضت ايلاء عناية محورية لمكانة المؤسسات الصغيرة والمتوسطة في دفع بوتيرة التنمية الاقتصادية والاجتماعية، هدا المسعى سيؤدي لامحال وبصفة تدريجية إلى إبراز نسيج صناعي ذات ميزة تنافسية على المستوى الجهوي والدولي . تعتبر هده المساهمة منا كورقة الطريق لتشخيص أهم المحاور الكبرى للإستراتيجية الوطنية لدعم ونمو المؤسسات الصغيرة والمتوسطة في الجزائر، مع كشف الواقع العملي والقيود وكدا التحديات التي تواجه هده المؤسسات لخلق الثروة والشغل.The implementation of the new industrial policy has led the public authorities to associate small and medium-sized enterprises or economic and social development, the scope of which will gradually lead to the emergence in our country of a competitive industrial fabric on a regional scale and international. This contribution on our part will lay out a roadmap for a diagnosis of the various major axes of the development strategy of MSEs in Algeria, as well as the analysis of the realities and constraints that prevent these companies from creating wealth and jobs

ANALYSIS OF THE RATIONAL RELATIONS TO THE COMPANY’S WORK METTERS (CASE STUDY ON PT. Semen Gresik (Persero), Tbk)

This study presents a comprehensive analysis of the rational relations pertaining to the operational dynamics of PT. Semen Gresik (Persero), Tbk, a leading cement manufacturing company. Through a detailed case study approach, various facets of the company's operational framework are scrutinized, focusing on key financial metrics such as liquidity, leverage, and profitability. By examining these rational relations, the study aims to elucidate the company's ability to effectively manage its resources, meet short-term obligations, and sustain profitability amidst dynamic market conditions. Employing a range of financial ratios including liquidity ratio, leverage ratio, and net profit margin, the analysis provides insights into PT. Semen Gresik (Persero), Tbk's financial performance over a specified period. The study delves into the implications of these findings on the company's operational efficiency and financial stability, highlighting areas of strength and opportunities for improvement. By deciphering the rational relations inherent in the company's operational matters, this study offers strategic recommendations to optimize performance and enhance competitiveness in the industry landscape. Through a rigorous examination of rational relations, this study contributes to a deeper understanding of PT. Semen Gresik (Persero), Tbk's operational dynamics and its implications for organizational success. By elucidating the intricate connections between financial metrics and operational outcomes, the study provides valuable insights for stakeholders, policymakers, and industry practitioners seeking to navigate the complexities of contemporary business environments and drive sustainable growth and profitabilit

Just Gaze and Wave: Exploring the Use of Gaze and Gestures for Shoulder-surfing Resilient Authentication

Eye-gaze and mid-air gestures are promising for resisting various types of side-channel attacks during authentication. However, to date, a comparison of the different authentication modalities is missing. We investigate multiple authentication mechanisms that leverage gestures, eye gaze, and a multimodal combination of them and study their resilience to shoulder surfing. To this end, we report on our implementation of three schemes and results from usability and security evaluations where we also experimented with fixed and randomized layouts. We found that the gaze-based approach outperforms the other schemes in terms of input time, error rate, perceived workload, and resistance to observation attacks, and that randomizing the layout does not improve observation resistance enough to warrant the reduced usability. Our work further underlines the significance of replicating previous eye tracking studies using today's sensors as we show significant improvement over similar previously introduced gaze-based authentication systems

The cost-effectiveness of celecoxib versus non-steroidal anti-inflammatory drugs plus proton-pump inhibitors in the treatment of osteoarthritis in Saudi Arabia

Background: Cyclooxygenase (COX)-2 inhibitors including celecoxib are as effective as non-selective non-steroidal anti-inflammatory drugs (ns-NSAIDs) in the treatment of osteoarthritis (OA) and have less gastrointestinal toxicity. Although they are associated with higher treatment costs, COX-2 inhibitors may simultaneously reduce costs associated with adverse events, hence, their overall economic benefit should be assessed. Objective: To evaluate the incremental cost effectiveness ratio (ICER) of celecoxib versus ns-NSAIDs, with/without proton-pump inhibitor (PPI) co-therapy, for managing OA in Saudi Arabian subjects aged Ï65 years. Methods: The National Institute for Health and Care Excellence health economic model from the UK, updated with relative risks of adverse events using CONDOR trial data, was adapted. Patients received celecoxib or ns-NSAIDs, with/without omeprazole. The effectiveness measure was quality-adjusted life years (QALYs) gained per patient. The analysis was conducted from the patient's perspective. Frequencies of resource use for adverse events were based on data collected in July 2012 from seven private hospitals in Jeddah, Saudi Arabia. Probabilistic sensitivity analysis was performed to construct cost-effectiveness acceptability curves (CEACs). Results: Over a 6-month treatment duration, QALYs gained per patient were higher with celecoxib (0.37) and celecoxib plus PPI (0.40) versus comparators. Ibuprofen plus PPI showed the lowest expected cost per patient (US$1,314.50 versus US$ 1,422.80 with celecoxib plus PPI and US$1,543.50 with celecoxib). Celecoxib plus PPI was the most cost-effective option with an ICER of US$ 1,805.00, followed by celecoxib (ICER, US$7,633.33) versus ibuprofen plus PPI. Over 2- and 5-year treatment durations, celecoxib plus PPI, and celecoxib, showed higher QALYs gained/patient and lower ICERs versus comparators. These ICERs are <1 gross domestic product/capita in Saudi Arabia in 2013 (US$ 25,961). CEACs over 6 months' treatment showed a significantly higher likelihood that celecoxib plus PPI and celecoxib alone would be more cost effective versus comparators once the willingness to pay is over US$ 2,000.00. Conclusion: After considering new adverse event risks, celecoxib with/without PPI co-therapy was deemed very cost effective for medium- and long-term use in Saudi Arabian OA patients aged Ï65 years

Anxiety and Depression among Family Caregivers of Older Adults with Cancer

Anxiety and depression are the most common problems experienced by family caregivers. Aim: to assess anxiety and depression among family caregivers of older adults with cancer. Method: descriptive research design was used in this study. The study carried out on 157 family caregivers of the older adults diagnosed with cancer attending Mansoura Oncology Center within a period of three months. Data was collected using four tools, Socio demographic and clinical data structured interview schedule, Barthel Index Scale, Lawton and Brody Scale and Hospital Anxiety and Depression Scale. Results: the mean scores of anxiety were 11.31±3.37 in which the prevalence of anxiety among caregivers was 85.3%. The mean scores of depression were 10.64±3.22 in which the prevalence of depression was 81.5%. Conclusion: Family caregivers of older adults with cancer experienced high levels of anxiety and depression. Keywords: Older adults, Cancer, Anxiety, Depression, Family caregiver

Case Study On Coupling Crack On A Centrifugal Pump

Case StudyThis case study is focused on accurately identifying the root cause of the observed change in the rotor natural frequency by analyzing the vibration excursions on a motor driving a centrifugal pump through a flexible coupling.• The unit tripped on high vibration at Motor DE bearing probes, This trip event had no records on the online monitoring server due to communication loss between the software and the Pump Monitoring Software. • However, the machinery protection system was able to trip the unit successfully. The communication loss issue was resolved, and the unit started back up and kept running for approximately 20 minutes until it tripped again on the same Motor DE bearing vibration probes