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Volume 0, Issue 0 (12-2024)
Abstract
Aim and Introduction
The financial sector has seen considerable growth in many post World War II western economies. The consequences of the Great Financial Crisis of 2007-2009 displayed how large the reach of the industry is, and how actions taken by a few important role players, can harm the general public. It is due to the consequences of the Great Financial Crisis that the notion of reforming the banking sector came about. The call for reform occurred in the 1940s as well, after the Great Crash. It was here that Full Reserve Banking (FRB), the broad term for the proposed banking reform and the subject of this dissertation, originated.
The Great Crash ended a period of expansion and growth in the USA in the 1920s where credit was easily available, and the money supply grew. The subsequent Great Depression was an economic event of unprecedented dimensions (Temin, 2000). The years 1929-1933 held a stock market crash, a banking crisis, and a collapse of commodity prices. Friedman and Schwartz (1963) contended that the primary propagation mechanism of the Depression was the contraction in the US money supply, together with banking panics. There were three banking crises in that short period, and it was the failure of two large banks, the Bank of United States and Caldwell and Company, that caused most of the problem. These banks had undergone rapid credit expansion in the 1920s and collapsed under the pressure of the recession (Temin, 2000: 307). A response to the recession was to say that the root cause was bad banking practice and that stricter regulations should be imposed to prevent future crises. Regulation was introduced in The Glass-Steagall Act (1933) however, a more severe suggestion was that bank deposits should be fully backed by bank reserves, Full Reserve Banking, an approach proposed in the Chicago Plan.
The Chicago Plan was proposed by Henry Simons, Irving Fisher and others, to prevent another crisis. It proposed requiring banks to hold 100 per cent reserves. This would simultaneously curb the possibility of reckless lending, and eliminate the risk of bank runs, thereby eliminating the possibility of another banking crisis.
Over the past years, the nominal capacity of the supply of bank facilities has increased significantly, and the main increase in bank assets has come from the increase in granting facilities. On the liabilities side of the banks' balance sheets, non-governmental sector deposits (due to paying high interest rates to depositors) during the year 2013 to 2022 has increased by 33.6% on average.
Statistical evidence shows that the real sector of the economy has not benefited much from the expansion of the banking network's balance sheet and the allocation of bank resources has not led to economic growth. On the other hand, it can be seen that the liquidity created by the banking system has not been absorbed by the real sector of the economy and its effects have been manifested in nominal variables in the form of price increases or turbulences in the currency market and other assets. The average growth of real GDP (without oil) during the years 2013 to 2022 was about 1.6 percent.
In general, it can be seen that due to the endogenous nature of money, the central bank has not had a significant success in controlling the growth of monetary aggregates through controlling the growth of the monetary base and its components (statistical evidence in recent decades confirms this); So that the credibility of the central bank's monetary policies has been challenged and the economy has been exposed to continuous threats of inflation and monetary and financial instabilities.
Methodology
This study will employ several techniques for gathering data, including a library type, a documentary branch, and the use of databases, such as those of the Central Bank of the Islamic Republic of Iran and the World Bank. Based on the characteristics of the Iranian economy under fractional & full reserve banking, a random dynamic general equilibrium model was developed for the period 1991-2021. Typical econometric methods are also used to evaluate the hypotheses. This has enabled assessing the effects of the exchange rate shock under two scenarios. It should be noted that the models were estimated in the dynare program space under MATLAB software.
Findings
The exchange rate shock has a negative effect on the consumption of the private sector at real prices, probably due to an increase in import prices. This has led to a decrease in the import of goods. Since imports form a part of the consumption for the private sector, therefore, the consumption by this sector decreases by about 0.5 percent. The Exchange rate shock has had a positive effect on the net foreign exchange reserves of the central bank. The growth rate of the monetary base is also affected by the currency shocks. With the increase in the exchange rate, although the central bank first reacts to the inflationary conditions resulting from the currency shocks through the currency reaction function and reduces the base monetary growth rate, but this situation is not very durable and finally the monetary base growth rate will increase by about 0.4 percent.
If these resources enter the banking system, due to the 100 percent reserve, it has led to the crediting of the banks, and as a result, inflation and final costs have decreased. But in fractional reserve banking, banks create money by attracting deposits, which in turn creates money by them. As a result of this jump, inflation and the final cost will increase.
The exchange rate shock also increases inflation because with the increase in the nominal growth rate of the exchange rate, the marginal cost of each import unit increases and finally the country's inflation increases by 0.7 percent.
Discussion and Conclusion
The purpose of this research is to investigate the effects of exchange rate impulse on the macroeconomic variables of Iran's economy in the conditions of partial and full reserve banking. To achieve this goal, a new Keynesian stochastic dynamic general equilibrium model was designed considering fractional and full reserve banking system (FRB). The realities of the Iranian economy are considered, and then the effects of exchange rate shocks under two types of banking are investigated. After determining the input values of the model and estimating the parameters using the seasonal data of Iran's economy during the period of 1991-2022 using the Bayesian estimation method, the results obtained from the simulation of the model variables indicate the validity of the model in describing the fluctuations of the Iranian economy. The results of the model indicate that, as a result of the exchange rate shock, the growth rate of the monetary base and consequently the amount of money is affected. Under full reserve banking, due to the full reserve of deposits, this has led to a lower increase in inflation and final cost. However, in partial reserve banking, due to the less control of the banking system, despite having two tools to control the growth of the monetary base and the nominal exchange rate, it will create higher fluctuations in the inflation rate and other macroeconomic variables. In other words, the study model has been slightly different from the basic model in the face of the currency impulse, both in terms of the amplitude and the length of the fluctuation
The financial sector has seen considerable growth in many post World War II western economies. The consequences of the Great Financial Crisis of 2007-2009 displayed how large the reach of the industry is, and how actions taken by a few important role players, can harm the general public. It is due to the consequences of the Great Financial Crisis that the notion of reforming the banking sector came about. The call for reform occurred in the 1940s as well, after the Great Crash. It was here that Full Reserve Banking (FRB), the broad term for the proposed banking reform and the subject of this dissertation, originated.
The Great Crash ended a period of expansion and growth in the USA in the 1920s where credit was easily available, and the money supply grew. The subsequent Great Depression was an economic event of unprecedented dimensions (Temin, 2000). The years 1929-1933 held a stock market crash, a banking crisis, and a collapse of commodity prices. Friedman and Schwartz (1963) contended that the primary propagation mechanism of the Depression was the contraction in the US money supply, together with banking panics. There were three banking crises in that short period, and it was the failure of two large banks, the Bank of United States and Caldwell and Company, that caused most of the problem. These banks had undergone rapid credit expansion in the 1920s and collapsed under the pressure of the recession (Temin, 2000: 307). A response to the recession was to say that the root cause was bad banking practice and that stricter regulations should be imposed to prevent future crises. Regulation was introduced in The Glass-Steagall Act (1933) however, a more severe suggestion was that bank deposits should be fully backed by bank reserves, Full Reserve Banking, an approach proposed in the Chicago Plan.
The Chicago Plan was proposed by Henry Simons, Irving Fisher and others, to prevent another crisis. It proposed requiring banks to hold 100 per cent reserves. This would simultaneously curb the possibility of reckless lending, and eliminate the risk of bank runs, thereby eliminating the possibility of another banking crisis.
Over the past years, the nominal capacity of the supply of bank facilities has increased significantly, and the main increase in bank assets has come from the increase in granting facilities. On the liabilities side of the banks' balance sheets, non-governmental sector deposits (due to paying high interest rates to depositors) during the year 2013 to 2022 has increased by 33.6% on average.
Statistical evidence shows that the real sector of the economy has not benefited much from the expansion of the banking network's balance sheet and the allocation of bank resources has not led to economic growth. On the other hand, it can be seen that the liquidity created by the banking system has not been absorbed by the real sector of the economy and its effects have been manifested in nominal variables in the form of price increases or turbulences in the currency market and other assets. The average growth of real GDP (without oil) during the years 2013 to 2022 was about 1.6 percent.
In general, it can be seen that due to the endogenous nature of money, the central bank has not had a significant success in controlling the growth of monetary aggregates through controlling the growth of the monetary base and its components (statistical evidence in recent decades confirms this); So that the credibility of the central bank's monetary policies has been challenged and the economy has been exposed to continuous threats of inflation and monetary and financial instabilities.
Methodology
This study will employ several techniques for gathering data, including a library type, a documentary branch, and the use of databases, such as those of the Central Bank of the Islamic Republic of Iran and the World Bank. Based on the characteristics of the Iranian economy under fractional & full reserve banking, a random dynamic general equilibrium model was developed for the period 1991-2021. Typical econometric methods are also used to evaluate the hypotheses. This has enabled assessing the effects of the exchange rate shock under two scenarios. It should be noted that the models were estimated in the dynare program space under MATLAB software.
Findings
The exchange rate shock has a negative effect on the consumption of the private sector at real prices, probably due to an increase in import prices. This has led to a decrease in the import of goods. Since imports form a part of the consumption for the private sector, therefore, the consumption by this sector decreases by about 0.5 percent. The Exchange rate shock has had a positive effect on the net foreign exchange reserves of the central bank. The growth rate of the monetary base is also affected by the currency shocks. With the increase in the exchange rate, although the central bank first reacts to the inflationary conditions resulting from the currency shocks through the currency reaction function and reduces the base monetary growth rate, but this situation is not very durable and finally the monetary base growth rate will increase by about 0.4 percent.
If these resources enter the banking system, due to the 100 percent reserve, it has led to the crediting of the banks, and as a result, inflation and final costs have decreased. But in fractional reserve banking, banks create money by attracting deposits, which in turn creates money by them. As a result of this jump, inflation and the final cost will increase.
The exchange rate shock also increases inflation because with the increase in the nominal growth rate of the exchange rate, the marginal cost of each import unit increases and finally the country's inflation increases by 0.7 percent.
Discussion and Conclusion
The purpose of this research is to investigate the effects of exchange rate impulse on the macroeconomic variables of Iran's economy in the conditions of partial and full reserve banking. To achieve this goal, a new Keynesian stochastic dynamic general equilibrium model was designed considering fractional and full reserve banking system (FRB). The realities of the Iranian economy are considered, and then the effects of exchange rate shocks under two types of banking are investigated. After determining the input values of the model and estimating the parameters using the seasonal data of Iran's economy during the period of 1991-2022 using the Bayesian estimation method, the results obtained from the simulation of the model variables indicate the validity of the model in describing the fluctuations of the Iranian economy. The results of the model indicate that, as a result of the exchange rate shock, the growth rate of the monetary base and consequently the amount of money is affected. Under full reserve banking, due to the full reserve of deposits, this has led to a lower increase in inflation and final cost. However, in partial reserve banking, due to the less control of the banking system, despite having two tools to control the growth of the monetary base and the nominal exchange rate, it will create higher fluctuations in the inflation rate and other macroeconomic variables. In other words, the study model has been slightly different from the basic model in the face of the currency impulse, both in terms of the amplitude and the length of the fluctuation
Volume 2, Issue 4 (3-2013)
Abstract
The aim of this study is to investigate different risks of e-banking in private and public banks of Iran. Despite the certain benefits, e-banking carries tremendous risks. The major risks that are associated with e-banking are strategic, operational, legal and reputational risks. Security is considered the central operational risk of e-banking. For example; breach of security allowing unauthorized access to customer information can be classified as an operational risk, but it also exposes the bank to legal and reputational risks. The methodology used for this study is Questionnaire (AHP), and statistical software for data collection and analysis. Senior managers and vice-chancellor of private and public banks are the research population. Finally, based on the research findings, a few suggestions will be offered for electronic banks' risk management in public and private banks. Keywords: Electronic Banking, Strategic Risk, Operational Risk, Reputational Risk, Legal Risk
Volume 4, Issue 1 (6-2014)
Abstract
Effective IT governance guarantees alignment of IT with business in order to maximize benefits, achieving organizational goals and optimal use of IT resources. Therefore in industries such as banking industry due to the dependency of their activities on IT, appropriate IT governance is no longer a “nice to have”, it is a “must have”. To achieve effective IT governance, an organization needs to employ well-designed, well-understood, and transparent governance mechanisms. A complete list of 30 IT governance mechanisms categorized in 3 groups: decision making structures, alignment processes and relational mechanisms were synthesized through the literature review and using the Qualitative Meta-Synthesis Methodology. In the next step, a group of domain experts were requested to modify the list to the specific characteristics of Iranian banking industry and as a final outcome, a list of 26 mechanisms for effective IT governance in Iranian banking industry was obtained. Then, designed and validated questionnaire of field studies was distributed among IT managers of 25 banks. The collected data were analyzed via statistical tests. Results indicated 12 mechanisms are strongly deployed among which the existence of an IT strategy committee, IT project steering committee, IT project tracking (time and budget control) and Motivation and incentive to follow the principles of IT governance have positive impact on effective IT governance in Iranian banking industry.
Volume 4, Issue 2 (9-2014)
Abstract
In the modern highly competitive banking era, ability of collecting financial resources has become one of the main prerequisite of effective performance and survival of the banks. Hence, banks have turned to strategies such as electronic banking development to develop their capabilities. This research shows that how and to what extent of applying various electronic banking systems can develop the banks capabilities in collecting financial resources by motivating people to invest in these banks. The research method is of descriptive and solidarity type. The population consists of the customers of Ansar bank branches in Tehran province that are taken by random sampling, and 440 were selected. The results of the research indicate that all 13 studied electronic banking systems have meaningful and positive relationship with the bank capabilities in collecting financial resources, and among them 3 systems of point of sale (POS) and PAYA system (financial resources barter) and Telephone bank system have the greatest positive relation with collecting of financial bank resources. These results show that the electronic banking development is an effective factor in motivating people to invest in studied banks. On this basis, practical and theoretical recommendations are provided for managers and researchers.
Volume 6, Issue 4 (2-2017)
Abstract
This paper is aimed at proposing an appropriate e-business model for Iran banking industry using mixed research (qualitative -quantitative) methodology. For this purpose, after examining e-business models for financial services 10 experts and managers in the banking industry of the country at various levels during were interviewed in qualitative phase. Gathered data was analyzed using qualitative content analysis and a questionnaire was prepared and used as the basis of quantitative phase of study. The quantitative data was collected and then analyzed for descriptive and inferential statistics. Based on results final model of the research was determined. The results of the research show that the proposed e-business model for banking industry is comprised of four main dimensions including: provided value, customers, suppliers and financial management. Generally speaking, the main components were classified as 10 main categories, i.e. product/service, target customers, distribution channels, customer loyalty, insurance, resources and competencies, cooperation network or partners, cost structure, revenue structure and electronic intermediaries. At the end, as per the obtained issues and scope, some policies and research proposals are presented.
Volume 7, Issue 2 (9-2017)
Abstract
In E-commerce and wireless communication technologies, location-based services are one of the most valuable processes. Using this services in the banking industry, in addition to providing customized banking services to customers, will bring infinite benefits for banks. However, due to the new emergence of this technology and possible obstacles ahead, it is essential to be paid to the issue of acceptance of this services in the banking industry. The aim of this study is presenting a model for acceptance of location-based services to Iranian banks. For this purpose, according to the Unified Theory of Acceptance and Use of Technology, a comprehensive model has been developed to identify effective factors on the acceptance of location-based services in Iranian banks and has been tested utilizes structural equation modeling, in the community of banks customers in Tehran. After analyzing the results, the main research hypotheses were confirmed and the effective factors on acceptance of location-based services in Iranian banks, including performance expectancy, effort expectancy, facilitating conditions, social influences, privacy concerns, confidence, perceived risk, and willingness to innovation. According to the findings, gender and age is not involved in the acceptance of the banking location-based services, but the educational degree is effective on intend to use this services.
Volume 8, Issue 2 (9-2018)
Abstract
The advent of new technologies is constantly evolving in today's societies, while information technology is the most effective of these activities. Since information technology can have a devastating impact on the environment, protecting the environment from these threats has added to the concerns of organizations, and as a result, the Green IT debate has become a topic of the day. Different models and methods have been used to explain the various dimensions of the maturity of green information. In this research, a dynamic model was developed to examine the relationship between components and determine the appropriate strategy to reduce energy consumption and thus increase the maturity level of green information technology in the organization. Since the banking industry is closely related to information technology, all Iranian banks have been investigated in this study. First, various components influencing the maturity of green information technology have been identified and their initial level and factors influencing their increase or decrease have been determined, then Causal loop and Stock and flow diagrams are illustrated to explain their relationships. In this regard, variables related to human factors and factors related to technology have been investigated. In the end, after testing and simulating a dynamic model, several scenarios have been proposed to improve the situation in the banking industry and to reach the highest level of maturity of green information technology. Keywords: Green Information Technology, Green Technology Maturity, System Dynamics, Banking Industry
Volume 8, Issue 3 (3-2019)
Abstract
E-Banking is a new type of banking service where banking services are provided using -environments. This kind of banking activity has spread throughout the world since 1991. Customers are migrating from traditional banking to modern banking with the increase of e-banking services and the provision of various tools for banking transactions. Accordingly, it is important to examine the progress of banks in these tools and the level of customer satisfaction. This study first analyzes the extent of customer satisfaction with these tools by examining customer transactions in Branch, ATM, Internet Bank and Mobile Bank Which has conducted this survey for a hundred thousand customers. After an initial analysis of the use of tools, Customers were clustered using k-Mean Method and Imperialist Competitive Algorithm with MATLAB software and grouped into seven clusters. Then the characteristics of each cluster are examined and strategies for each cluster are presented. In the final stage, we analyzed the strategies proposed by the Shapely value-based game theory approach and the most important strategies proposed.
Volume 9, Issue 2 (12-2019)
Abstract
Developing of electronic services in the banking industry, the nature of financial services has changed tremendously and in today's competitive banking environment, most banks are seeking to identify and meet their customer’s need in order to maintain their position in the market. The purpose of this study is investigating relationship between quality of modern banking services and customer satisfaction. Thus, in order to fulfill this purpose, different models of automated services quality index were surveyed. Then 7 variable including variety, ease of use, usefulness, operation’s speed, confidentiality, security and responsibility were selected. We distributed 384 questionnaires with Likert scale in state and private banks’ customer in Bandar-e-Anzali city. This research used Cronbach’s alpha coefficient for reaching a fair reliability. Also validity of this questionnaire was calculated through factor analysis. Results of testing hypotheses using Spearman’s correlation test showed that modern services quality has positive effect on customer satisfaction.
Volume 11, Issue 2 (9-2021)
Abstract
According to the latest report of the International Monetary Fund, the share of the US dollar in the total foreign exchange reserves of the world's central banks is about 63%, while the share of the Euro is 20% and the share of the Yuan is 2.5%. This study argues for the hegemonic position of the dollar in the world economic system and then tries to understand the future scenarios of this position. The ultimate goal of this study was to analyze the solutions of Iran's international banking system to deal with the position of the dollar in the global financial system. In this regard, a qualitative research has been conducted by qualitative content analysis method with the presence of 15 experts in the field of international banking. The data collected through semi-structured interviews have been analyzed and the results indicate that: Continuation of dollar hegemony, replacement with another national currency, strengthening of multilateral currencies and replacement with digital currencies are the four future scenarios of the global financial system. Subsequently, the solutions of Iran's international banking system to deal with it are: development of strategic financial relations with China, conclusion of multilateral monetary agreements, exploitation of digital currencies, and use of non-bank trade mechanisms.
Volume 12, Issue 1 (6-2022)
Abstract
Customer retention is one of the most important issues of any organization and finding a way to retain and maintain the customer is one of the critical needs of any organization. The main purpose of the present study in the field of machine learning is to focus on the problem of correctly identifying customer needs with a method based on extracting opinion and sentiment analysis and quantifying customers' sentiment orientation. In the other word, the main issue is to design a Recommender System to provide appropriate services in accordance with customer satisfaction, sentiment, and experiences.
The proposed method is that customers' opinions and experiences are obtained by evaluating tweets containing hashtags with the titles and headings of banking services as statistical population, and after revision, it results in providing correlation scores in terms of people's sentiment score due to the tweets, cosine similarity and reliability, consideration of relevant characteristic groups as well as recorded ideas in the training and testing process, in the form of submitting personalized offer to receive banking services.
In order to represent a recommending solution, suitable classification methods are used along with opinion mining methods and proper validation approach as well, and the terminal designed system with a little error will take steps to provide personalized services as well as help banking system.Since there is no thorough provision of banking services tailored to the customers’ situation, so in this regard, the mentioned system will be extremely beneficial.
Volume 12, Issue 3 (9-2012)
Abstract
The weak axiom of profit maximization (WAPM) is used to analyze the optimization behavior of 18 Iranian banks within 10 years (2000-2009). In general the banks in the Iranian economy can be divided into 2 groups, state and privately owned banks. Nonparametric nature of this test allows us to study the profit maximization behavior of the firms without the need for any assumption on functional form of underlying technology. The WAPM is checked under 2 assumptions: constant technology and nonregressive technological change. Although most of the banks violate the deterministic WAPM test, testing the stochastic WAPM with measurement error and believing in existence of at least 1 percent measurement error in data, show the behavior of the privately owned banks and one of the state owned banks is consistent with WAPM under nonregressive technological change assumption. Although the behavior of the state owned banks is consistent as well if one believes in 5 percent measurement error, the difference leads to this conclusion that performance of the state development policies and objectives by the state owned banks has been deviated from profit maximization behavior.
Volume 12, Issue 4 (1-2013)
Abstract
For determining the profit in transactional contracts, there is no a comprehensive theory. Some viewpoints are very general and others are based on exchange rate of return, which contain speculative difficulties. Some others use international Libor rate and so on. Due to the lack of a consistent theory, this paper is introducing shadow cost approach to fill the gap in question. This is indeed going to estimate capital return or opportunity cost of capital. Introducing an efficient method is the main finding of this paper. In terms of methodology, this paper is based on statistical analysis and econometric methods.
Volume 12, Issue 4 (3-2023)
Abstract
Knowledge is one of the most important factors in the success of the banking system. Banks try to manage the existing knowledge in the organization more effectively and efficiently to improve their performance. Also, considering the important role of digital transformation in the development of organizations, banks try to not only maintain their market share but also surpass their competitors by focusing more on this area and moving towards digital banking. Therefore, efforts have been made to identify the affective dimensions of knowledge management that affect the acceptance of digital banking to rank these factors so that managers in the banking industry can, given the level of impact of these factors, strengthen their use in increasing The level of acceptance of digital banking by their customers. In the first phase of this research, a questionnaire designed to affect the affective dimensions of knowledge management on the acceptance of digital banking was completed by banking experts who are active in the field of knowledge management, information technology, and digital banking. After reviewing the opinions of experts, a pairwise comparison questionnaire was designed using the Delphi technique, and finally, using the Dimatel technique, the affective dimensions of knowledge management on digital banking acceptance were ranked. Since the purpose of the Dimatel technique is to determine how the elements influence each other, in examining the overall indicators, the IT index with the highest value is a strong penetrator and the client index with the lowest value is influenced by other factors.
Volume 13, Issue 1 (6-2023)
Abstract
A new trend in human resources, especially in the last decade, is the issue of digital talent. This event is certainly influenced by the evolution of the digital economy and the effects that digital technologies such as artificial intelligence have left on the business environment. As little research has been done on digital talent, there is still insufficient knowledge on what digital talent is and what to do about it. Therefore, this study, as one of the earliest studies in the field of digital talent, has investigated this issue in the banking industry. The research approach in this study is grounded theory. Data were obtained through interviews. At the end of the research, the extraction of 326 common first-order open source codes (out of 434 first-order codes), 72 second-order open source codes (resulting from common open source coding), 24 axial categories and 5 selective categories including: Philosophical and organizational orientations of digital business; Cognitive mapping of digital talent based on digitization initiatives; Recognize situational patterns and perspectives with the aim of understanding environmental events; Orientations of strategic actions in the development of DTs; And improved the level of individual and organizational performance.
Volume 13, Issue 2 (9-2023)
Abstract
Islamic banking has grown significantly in recent decades and is known as one of the growing industries in the world. Therefore, the purpose of this study is to identify and prioritize the factors affecting the acceptance of Islamic banking by customers with a fuzzy ARAS approach. The present study is a development-applied research.The statistical population of this study was 15 experts in the field of banking and Islamic economics who were selected by available methods .in the first step with library reviews and evaluation of the findings of previous studies related to the subject, the factors affecting the acceptance or selection of Islamic Bank by customers were examined. In the next step, Shannon entropy technique was used to screen for the identified factors. In order to achieve the weight and importance of the factors, the fuzzy Analytic Hierarchy Process (AHP) technique was used and finally the fuzzy Aras technique was used to prioritize the factors. Findings show that the factors of religion and religious beliefs of the society, compatibility with the values of society and customers and social responsibility of the Islamic banking system are the most important in the acceptance of Islamic banking by customers. Bank reputation and image, comparative advantage over conventional banking system and advertising in accepting Islamic banking by customers were recognized as less important factors.
Volume 14, Issue 1 (6-2024)
Abstract
Digitalization and disruptive technologies have revolutionary transformation in traditional business models and processes. The banking industry has found its survival and competitiveness dependent on a comprehensive review of various aspects of its business. The lack of coherent knowledge of the requirements in digital banking environment is the main purpose for this paper. In this research, through a systematic review during the years 2000 to 2022 in the field of digital banking business model, after refining more than 633 articles, 26 articles were selected for review. Through comparative content analysis, a total of 144 unique examples were identified from 222 codes and finally categorized under 11 main subjects. The results indicate that the nine dimensions of the Osterwalder business model, in addition to the two categories of "new mindset" and " services innovation" have been considered as the most important and common elements of the banking business model in the digital age.
Volume 14, Issue 3 (9-2014)
Abstract
Given the lapse of nearly three decades of enforcement of interest-free banking law in Iran and emergence broad developments in the banking system, scientific and empirical researches are necessary to adapting performance of interest-free banking to banking regulations and Shari`a rules and principles. The prohibition of usury, not squander of wealth in vanity, no loss-no hurt, prevention of deceive and non-superficial transactions are some of these rules. This paper deals with identifying and introducing superficial transactions in order to evaluating performance of non-usury banking system. This issue is of great importance since the performance of non-usury banking in granting facilities has resulted in superficial contracts between two transacting parts (bank staff and facility demanders) in three latter decades. Thus, introducing quantitative indicators seems necessary to cope banking system activities with Shari`a criteria and principles. The research method relying library sources is descriptive and content analysis, in which indicators for superficial transactions are estimated using survey study. The hypothesis of this paper is that, more than half of bank transactions at branches of Tejarat Bank of Mashhad are superficial. The statistical population consists of all contracts among branches of Tejarat Bank of Mashhad and bank customers during 2009-2010. Using cluster sampling, a sample with 451 customers, who get bank facilities, was selected. Although the principle of non-interest banking operations fully comply with the holy Shari`a, but the results of the estimation of indicators for superficial transactions indicate that more than half of bank transactions at branches of Tejarat Bank of Mashhad are superficial.
Volume 14, Issue 3 (11-2024)
Abstract
Money is one of the elements of human life that has been common in different forms at different times. One type of emerging digital asset known as money is cryptocurrencies. The development of block chain technology and cryptocurrencies has led many central banks around the world to conduct economic and legal researchs on digital currency issuances. The purpose of this study is to develop strategies for using national Cryptocurrency in the banking system. Data collection was done through library studies and interviews with experts. Based on the results, a questionnaire including the strengths and weaknesses of the banking system and the opportunities and threats has been developed and completed by members of the statistical sample. Using SPSS software, each of these factors has been prioritized in order of importance, and using the SWOT matrix, the strategies of using national Cryptocurrency have been developed. The strategy of issuing national cryptocurrencies on the basis of internal blockchain by the central bank with the support of national currency, gold and its foreign reserves and with the participation of commercial banks, the most important and publishing common cryptocurrencies with neighbors and trading partners on the basis of common blockchain for facilitating monetary exchanges has been chosen as the least important strateg.
Volume 14, Issue 4 (3-2012)
Abstract
Objective: Traditional methods for storing microbial DNA samples use the low-temperatures of 4 °C, -20°C or -80 °C. The DBC Card is a new method of storing microbial DNA at room temperature. This study evaluates the stability and determine the best storing method of Bacterial DNA on the DBC card. Methods: In this study, we used a pair of primers from the conserved domain of 16srRNA designed to identify Escherichia coli. Four different types of samples we prepared: i) bacterial suspension, ii) bacterial DNA extracted by the phenol – chloroform method, iii) bacterial lysate with lysis buffer and iv) bacterial DNA produced by the boiling method. All four samples were spotted on separate DBC cards and dried at room temperature. After periods of 3, 5 and 7 months, Escherichia coli samples were checked for DNA stability with two molecular techniques, conventional PCR with 1, 2 and 3 disks as a source of bacterial DNA (1 mm diameter) and Real-Time PCR. Results: Data showed that DNA stability was maintained after 7 months on a DBC disk, even using only one disk as a DNA source. The bacterial suspension was the best method for long-term storage of Escherichia coli DNA on the DBC Card. Conclusion: In traditional methods for storing sample, DNA quality reduces after freezing and thawing. However in the DBC method, DNA quality was maintained for a long duration. Advantages of the DBC method are easy sample handing, low cost, faster extraction, and reduced individual and environmental contamination.