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Research on Islamic banks have grown rapidly, however, a special study on the regional development banks which belong to the local government. The purpose of this study was to determine the level of efficiency of sharia business unit's financial performance, regional bank development in Java Island, Indonesia. The method used is the Data Envelop Analysis with five banks and the period 2013 to 2015. The efficiency is an important factor in the development of a bank. Our results showed that the general level of efficiency sharia business unit Regional Development bank on the island of Java has achieved good efficiency, although there are some banks and a few years yet to achieve efficiency. The main factors that cause inefficiency bank among other operating costs and expenses for the results.

From a sample of commercial banks in Asia Pacific over the 1994-2009 period, this study highlights that banks in less competitive markets exhibit lower loan growth and higher instability. Such instability is further followed by a decline in deposit growth, suggesting that Asian banks are also subject to indirect market discipline mechanisms through bank market structure. This study therefore sheds light on the importance of enhancing bank competition to overcome bank risk and strengthen financial intermediation. This study also advocates greater reliance on market discipline to promote bank stability.

From a sample of commercial banks in Asia Pacific over the 1994-2009 period, this study highlights that banks in less competitive markets exhibit lower loan growth and higher instability. Such instability is further followed by a decline in deposit growth, suggesting that Asian banks are also subject to indirect market discipline mechanisms through bank market structure. This study therefore sheds light on the importance of enhancing bank competition to overcome bank risk and strengthen financial intermediation. This study also advocates greater reliance on market discipline to promote bank stability.

AbstractThis study investigates the role of financial and institutional development on economic growth in the Association of Southeast Asian Nations (ASEAN) economies from 1995 to 2017 using a dynamic panel estimator. Financial development is instrumental in promoting economic growth; however, the effect of financial institutions and financial markets can differ. In recent years, the ASEAN economies have launched financial and institutional integration initiatives towards the goal of an integrated ASEAN Economic Community, which can have a profound impact on economic growth. The estimated results show that financial institutions are positive and significant towards economic growth, while financial markets are insignificant. Equally important, institutional quality plays a significant and positive role in economic growth. More interestingly, the study finds that institutional development is complementary to financial institutions and markets. Member states should emphasise on further financial integration across the ASEAN economies, allowing for the development of financial institutions and markets alongside improvements in institutional quality to increase the effectiveness of financial development.

This study is to provide the information to the bankers, government authorities, employees and the investor of the financial institutions about the impact of the merger on the performance of the banks. For this purpose, financial ratios such as the liquidity ratio, loan to deposit ratios are measured to see the short term paying capacity of the banks. Investment ratio such as earning asset to total asset ratio; solvency ratio such as "deposit time capital"; equity capital to total asset, profitability ratios include the interest margin to earning asset are used to analyze the impact of merger and on bank performance. By using ratio analysis, the study concludes if the merger and have a positive relationship with merger.

This paper will propose a plan to reform international finance—the World Financial Authority (WFA) Plan. Under such a plan, the IMF and other existing international financial institutions would be reformed and coordinated around a newly created WFA. The WFA would have two core functions. The first function would be to manage international liquidity, thus reducing externalities arising from domestic monetary policies adopted by its members, and addressing global liquidity problems involving financial activities of transnational private banks. The second function would be to help countries make their domestic monetary policies more effective, thus regaining traction and preventing contagion. A central instrument to this end is the creation of the World Financial Unit (WFU), an international currency unit conceived as a synthetic security backed by reserves composed of currencies surrendered to the WFA by member countries. The WFA would support the financial globalization, as well as help governments to maintain their power to manage the domestic macroeconomic conditions, contain externalities, align incentives, and allow for more responsible policies.

The recent global financial crisis has shaken the confidence of industrial and developing countries alike in the very blueprint of the financial and macropolicies that underlie the Western capitalist systems. In an effort to contain the crisis from spreading, the authorities in the United States and many European governments have taken unprecedented steps of providing extensive liquidity, giving assurances to bank depositors and creditors that include blanket guarantees, structuring bail-out programs that include taking large ownership stakes in financial institutions, and establishing programs for direct provision of credit to nonfinancial institutions. Emphasizing the importance of incentives and tensions between short term and longer term policy responses to crisis management, the authors draw on a large body of research evidence and country experiences to discuss the implications of the current crisis for financial and macroeconomic policies going forward.

This book discusses financial inclusion, gender equality, regulatory regimes for microfinance, women empowerment, and digital finance from an Islamic perspective. It encourages the reader to reflect on whether the delivery of financial services from an Islamic perspective might be attainable and lead to achieving global financial inclusion. Accessing financing is one of the most formidable challenges facing disadvantaged in IsDB member countries. The race to serve these niche markets has led to the emergence of conventional microfinance. There remains the lingering question of whether conventional microfinance in its current form has conclusively led to poverty alleviation among Muslim communities. Hence, there is a need of having Shari'ah-compliant business model that depends on Islamic socio-economic tools such as Zakah, Sadaqah, and Waqf might best address the needs self-financial exclusion or the exclusion of the extremely poor in Muslim.

Modern civilization revolves around money. However, money is a paradox. It is nothing more than a representation of and medium for decentralized networks of social trust, but its production is controlled by highly centralized networks of firms, places, and governments, and there is never enough of it to go around. Moreover, given that the creation of money, as credit, is based on expectations, money is at its heart an instrument for human agency to change the future. At the same time, however, the financial systems that produce money are deeply rooted in the past, and perpetuate themselves through history. This book seeks to deepen our understanding of the paradox of money, by introducing a novel conceptual lens—that of Global Financial Networks—to cast new light on the geography, history, politics, and sociology of finance from the middle ages to the global financial crisis and beyond. It shows that the power of finance is inherently "sticky"; with what are generally assumed to be new innovations such as "offshore" finance actually dating back centuries, and the architecture of global financial networks more broadly adapting to the rise and fall of empires and new technologies while changing surprisingly little in their basic character; or at most changing very slowly. A recognition of the mechanics of this durability, it is argued, calls for a new approach to reforming finance which is less reactively focused on regulation, and more proactively focused on building new institutional systems with a long-term "sticky power" of their own.

Abstract: This paper discusses about the progressive regulation of Islamic finance in Indonesia and its relation with the government's political will in shari'ah financial institutions. The progress of shari'ah financial regulation in Indonesia is good enough to solve various demands of operational optimization of shari'ah financial institutions in Indonesia. It shows that shari'ah financial regulation is massive and experiencing good progressive to answer operational problems of shari'ah financial institutions. The situation is also reinforced by the massive of the fatwa of the National Shari'ah Council (DSN). Various development programs of Islamic financial institutions conducted by the government through Bank Indonesia, BAPEPPAM, Financial Services Authority (OJK), and DSN show the existence of political will of the government to shari'ah financial institutions. To give a certain regulation in order to optimize the operational of shari'ah financial institutions, the government has massively issued various regulations. The progressiveness of shari'ah financial regulations prove that the political will of the government is seen in the effort of developing syari'ah financial institutions. Abstrak: Tulisan ini membahas tentang progresifitas regulasi keuangan syariah di Indonesia dan kaitannya dengan political will pemerintah pada lembaga keuangan syariah. Progres regulasi keuangan syariah di Indonesia cukup bagus untuk menyelesaikan berbagai tuntutan optimalisasi operasional lembaga keuangan syariah di Indonesia. Hal itu menunjukkan bahwa regulasi keuangan syariah cukup masif dan mengalami progresifitas yang baik untuk menjawab persoalan-persoalan operasional lembaga keuangan syariah. Keadaan tersebut diperkuat dengan progres fatwa Dewan Syariah nasional (DSN) yang cukup masif pula. Berbagai program pengembangan lembaga keuangan syariah yang dilakukan oleh pemerintah melalui Bank Indonesia, BAPEPPAM, Otoritas Jasa Keuangan (OJK), dan DSN menunjukkan adanya political will pemerintah terhadap lembaga keuangan syariah. Untuk menjawab kepastian regulasi demi optimalisasi operasional lembaga keuangan syariah, pemerintah secara masif mengeluarkan berbagai regulasi keuangan syariah. Progresifitas regulasi keuangan syariah menjadi bukti bahwa political will pemerintah tampak dalam upaya pengembangan lembaga keuangan syariah.

The financial crisis has opened up a global debate on the taxation of the financial sector. A number of international policy initiatives, most notably by the G20, have called for major changes in the tax treatment of financial institutions and transactions as well as individuals working in the financial sector. This book examines how tax policies contributed to the financial crisis and whether taxation can play a role in the reform efforts under way to establish a sounder and safer financial system. The book looks at the pros and cons of various tax initiatives, including limiting the tax advantages to debt financing, special taxes on the financial sector and financial transactions taxes.

Aim of this study is to provide the information to the bankers, government authorities, employees and the investor of the financial institutions about the impact of the merger on the performance of the banks. For this purpose, financial ratios such as the liquidity ratio, loan to deposit ratios are measured to see the short term paying capacity of the banks. Investment ratio such as earning asset to total asset ratio; solvency ratio such as "deposit time capital"; equity capital to total asset, profitability ratios include the interest margin to earning asset are used to analyze the impact of merger and on bank performance. By using ratio analysis, the study concludes if the merger and have a positive relationship with merger.

AbstractWe examine the effectiveness of bankruptcy institutions at promoting socially efficient allocation of resources. Under the Slovenian simplified reorganization procedure, firms with rejected reorganization proposals are not automatically liquidated. This unique institutional feature facilitates an estimation of the extent of different types of filtering failures. Based on an ex-post conceptualization of firm viability, Type I errors (the acceptance of plans by non-viable firms) are more likely than Type II errors (the rejection of plans by viable firms) and the overall incidence of filtering failure is 27%. Based on an ex-ante conceptualization of firm viability, any given reduction in Type II errors would give rise to three times as many Type I errors. We contextualize our findings in the light of prior results in the literature, alternative mechanisms for insolvency resolution, and related bankruptcy reorganization schemes internationally where courts are awarded a comparatively more prominent role.