Avec l'arrêt du 29 mars 2017 de la Cour de cassation, le secret bancaire connaît de nouvelles limites. L'une d'entre elle est générale et crée un obstacle de taille à son opposabilité devant le juge civil : le droit à la preuve protégé... more
Avec l'arrêt du 29 mars 2017 de la Cour de cassation, le secret bancaire connaît de nouvelles limites. L'une d'entre elle est générale et crée un obstacle de taille à son opposabilité devant le juge civil : le droit à la preuve protégé par l'article 6 de la Convention européenne de sauvegarde des droits de l'homme (Conv. EDH).
L’extraterritorialité du droit nord-américain dans le domaine bancaire et financier inquiète. Plusieurs banques non américaines ont déjà été placées dans la situation délicate d’être l’objet d’une injonction émise par un juge américain en... more
L’extraterritorialité du droit nord-américain dans le domaine bancaire et financier inquiète. Plusieurs banques non américaines ont déjà été placées dans la situation délicate d’être l’objet d’une injonction émise par un juge américain en vue de les contraindre à produire une preuve dans le cadre d’une procédure judiciaire initiée aux États-Unis, qu’elles soient parties ou non au procès. Dans quelle mesure un établissement bancaire situé en France peut-il se soustraire à l’injonction qui lui est faite (par un jugement américain) de produire un document dans le cadre d’un litige de nature civile porté devant une juridiction américaine, quand cet établissement est lui-même partie au procès ou un simple tiers ? La nouvelle portée du secret bancaire depuis l’arrêt du 29 novembre 2017 de la Cour de cassation change-t-elle la donne ?
The Capital Conservation Buffer (CCoB) and the Countercyclical Capital Buffer (CCyB) are relatively new macroprudential instruments in the EU, aimed at improving the resilience of the banking sector in order to sustain the provision of... more
The Capital Conservation Buffer (CCoB) and the Countercyclical Capital Buffer (CCyB) are relatively new macroprudential instruments in the EU, aimed at improving the resilience of the banking sector in order to sustain the provision of credit to the real economy in periods of stress. The time-varying CCyB rate has a more complex setup and is used at the discretion of EU Member States compared to the non-cyclical, fixed requirement for the CCoB, which is harmonised at EU level. The EU legislative framework was amended in 2019 as part of a broader banking reform package, which made targeted improvements to certain macroprudential policy provisions. Directive (EU) 2019/878 (CRD V), inter alia, simplifies the CCyB notification process and expands the role of the European Systemic Risk Board (ESRB). The leading role in setting and implementing the CCyB still lies with the EU Member States and is now jointly exercised with the European Central Bank (ECB) in its capacity as macroprudential authority for the Member States covered by the Single Supervisory Mechanism (SSM).
The financial services markets in most developed countries have matured considerably and there is very limited scope for creation of new markets. This means that the most common route to growth is to sell more products to existing... more
The financial services markets in most developed countries have matured considerably and there is very limited scope for creation of new markets. This means that the most common route to growth is to sell more products to existing customers. Early indications are encouraging as both the volume and value of new business generated from the Internet channel are growing for the banks, which have implemented e-banking. In some cases, such as Woolwich in the UK each e-banking customer holds four financial products on the average, which is a considerably higher figure than for traditional banking customers. The selection of the bank customers was purposive. The sample size of this study is three hundred and twenty four (324) respondents drawn from two clusters i.e., Nigeria and India, where each country represented one cluster and one hundred and sixty-two (162) respondents were selected randomly from each of these cluster and 294 completely and correctly filled ones were retrieved. This study used primary data collected through Questionnaire. The study found out that those factors affecting the prospects of Cashless Banking System include machine malfunctions / Technical issues, lack of investment in infrastructural development and Infrastructural deficit. It was recommended that Banks should give more priority to ATM based products since most customers use this channel more than the other channels in the cashless banking system, and that banks should make available cashless channels to avoid this problem.
Islamic banking has achieved exceptional growth in the last two decades and has been able to sustain it even during the recession and afterwards. In this paper, we highlight that lack of flexible financing options, incomplete product mix,... more
Islamic banking has achieved exceptional growth in the last two decades and has been able to sustain it even during the recession and afterwards. In this paper, we highlight that lack of flexible financing options, incomplete product mix, scale diseconomies, contractual frictions and constraints in liquidity management are potential future challenges for this industry. The study also highlights growth opportunities by noting that Islamic banks in many jurisdictions are yet to enter into infrastructure financing for development spending, energy financing, investment banking and sovereign financing.
This draft Biography of Frank Altschul represents progress to date on his biography. It covers in detail his early years, as a banker working with Lazard Freres in New York, up to 1943. The work on his later life, when he focused on... more
This draft Biography of Frank Altschul represents progress to date on his biography. It covers in detail his early years, as a banker working with Lazard Freres in New York, up to 1943. The work on his later life, when he focused on international affairs, especially his beloved Council on Foreign Relations, is still in progress.
(paper in Serbian and in English) Club de Paris and London Club are informal organizations founded due to the problems that a certain number of countries faced when they were unable to repay their foreign loans. Instead of... more
(paper in Serbian and in English)
Club de Paris and London Club are informal
organizations founded due to the problems
that a certain number of countries faced when
they were unable to repay their foreign loans.
Instead of competing among themselves about
the priority of getting their funds back, the
banks decided to act jointly, sometimes with
the help of their respective governments. The
paper deals with the practice of Club de Paris
and London Club, as well as the procedures and
operational characteristics of these informal
groups.
En el presente volumen se pretende contribuir a esta amplia discusión, con un enfoque histórico, que centra la atención en la comparación de un número selecto de estudios sobre las trayectorias de bancos de España y América Latina en el... more
En el presente volumen se pretende contribuir a esta amplia discusión, con un enfoque histórico, que centra la atención en la comparación de un número selecto de estudios sobre las trayectorias de bancos de España y América Latina en el largo plazo, desde los orígenes hasta la creación de los bancos centrales y de la banca de desarrollo. Dicho enfoque iberoamericano no es el más habitual en la historia financiera, pero consideramos que el racimo de trabajos incluidos en esta obra sugieren que la calidad y densidad de las investigaciones que se vienen realizando, tanto en España como en Latinoamérica, deben ser mejor conocidas a escala internacional
The study aimed to investigate the effect of emotional labour strategies on job satisfaction and emotional exhaustion. A conceptual framework was developed using extant literature, which led to examiningdeep acting and surface acting,... more
The study aimed to investigate the effect of emotional labour strategies on job satisfaction and emotional exhaustion. A conceptual framework was developed using extant literature, which led to examiningdeep acting and surface acting, which are the two main strategies of emotional labour. The outcome variables were emotional exhaustion and job satisfaction. The research was quantitative in nature. Stratified random sampling was adoptedin selecting suitable participants. Data was collected from 301 front line employees of five international banks in Zimbabwe using a structured questionnaire.The study results revealed that deep acting is an ideal strategy of emotional labour as it leads to job satisfaction and reduced emotional exhaustion. Surface acting was found to be a harmful emotional labour strategy. It was revealed, in this study, that surface acting is inversely related to job satisfaction and positively related to emotional exhaustion. The study recommended the moderate use of emotional labour to avoid long term stress-related effects.
1-Les prêts libellés en devises ont connu une forte envolée dès le début de la crise financière 1. Le risque lié à l'opération de change découlant de ces prêts a donné lieu à un important contentieux sur tout le territoire français que ni... more
1-Les prêts libellés en devises ont connu une forte envolée dès le début de la crise financière 1. Le risque lié à l'opération de change découlant de ces prêts a donné lieu à un important contentieux sur tout le territoire français que ni la Recomman-dation sur la commercialisation auprès des particuliers de prêts comportant un risque de change de l'ACPR 2 , ni la loi du 26 juillet 2013 sur la séparation et régulation des activités bancaires, introduisant pourtant un régime particulier des prêts en devises, n'ont pu tarir. Avant d'aborder le régime de ces prêts, avant l'entrée en vigueur de la dite loi et après celle-ci, il convient de s'entendre sur les termes du problème.
Strategic management is the art and science of formulating, implementing and evaluating cross functional decision, in short, it is defined as the way and manner an organisation plans for the future. Strategic management involves setting... more
Strategic management is the art and science of formulating, implementing and evaluating cross functional decision, in short, it is defined as the way and manner an organisation plans for the future. Strategic management involves setting goals, objectives, analysing the competitive environment, analysing the internal organisation environment, evaluating strategic and ensuring that management rolls out strategies that helps an organisation achieve its goals. The banking sector like other sectors benefit a lot from the practice of strategic management. This helps the banks to plan ahead for the future, make healthy projections, eliminating threats, assessment of the performance in conformity with the goals of the organisation. All Nigerian banks are under the corporate regulation of the Central Bank of Nigeria (CBN); which ensures that the banks management adhere strictly to best international practices in banking. This research work assesses the strategic management practices of Nigerian banks with a special focus on Fidelity Bank Plc.
This paper presents the Offshore-Intensity Ratio – a simple and straightforward way to identify which countries and jurisdictions could be seen as offshore financial centres (OFCs). By setting the aggregated amount of external capital... more
This paper presents the Offshore-Intensity Ratio – a simple and straightforward way to identify which countries and jurisdictions could be seen as offshore financial centres (OFCs). By setting the aggregated amount of external capital booked in a jurisdiction in relation to the size of its domestic economy, we get a ratio that expresses the strength with which the particular jurisdiction has acted as a magnet for foreign capital. Sixteen jurisdictions are identified as probable OFCs, including the Cayman Islands, the British Virgin Islands, Bermuda and Luxembourg, but also Ireland and the Netherlands. A novel visualization shows the role of the largest offshore centres in contemporary global finance.
Purpose of Study: The contemporary theory of Islamic Banking & Finance attempts to build its foundations on the institutional machinery and its components having very different ontological, epistemological foundations & genealogical roots... more
Purpose of Study: The contemporary theory of Islamic Banking & Finance attempts to build its foundations on the institutional machinery and its components having very different ontological, epistemological foundations & genealogical roots then that of Islam’s. Financial capital, being the most dominant & dynamic of its forms, is one of the components of the respective mega machine. This brings us to the question that can modern financial capital with all its particularities conform to metaphysical premise of Islamic episteme? This paper attempts to answer this question while comparing the concept of wealth or al-mal which conforms to Islamic episteme.
Research Methods: The paper attempts to explain the ontological, genealogical, institutional, political and cosmological particularities which give meaning to modern financial capital, while comparing it the concept of wealth in Islamic traditional discourse.
Findings: There are substantial intrinsic and extrinsic differences between the two concepts and in their respective contextual particularities so much so that both al-mal and capital can be said to have an antagonistic relationship with each other. Capital being politically more powerful can be assumed to have the capacity to steer away the direction of Islamic banking and finance toward its own ideals which are dichotomous with that of Islam.
Limitations: The paper only compares the two concepts on a normative plane while excluding the pragmatic dimension from the analysis as it would require another paper. Various questions and hypothesis are presented in the end which may become the basis of further research.
Originality & Value: The comparison done has serious implications for the policy makers who claim to uphold Islamic values and ideals. Ignoring the totalizing nature of modern financial capital and its subtle influence on traditional form of collectivities in the Muslim world (family system for e.g) may result in gradual disintegration of Muslim society. What role Islamic banking & finance would play, while going with the flow of modern financial capital, in preserving traditional collectivities in Muslim world is a question the policy makers need to ponder upon.
This article aims to examine a value creation model employed by Macquarie Bank, a worldwide leader in private infrastructure finance. The Macquarie case is interesting because the firm has internationalized by developing a unique market... more
This article aims to examine a value creation model employed by Macquarie Bank, a worldwide leader in private infrastructure finance. The Macquarie case is interesting because the firm has internationalized by developing a unique market expertise; transformed this expertise into a set of core capabilities; and leveraged both of these components within a structure of corporate entrepreneurship. As such the Macquarie case may offer a new hybrid model for financial services globalization. However, the turbulent events surrounding the sub-prime crisis have shown the limits of the model and raise questions about the sustainability of strategies that use leveraging as a central component.
Artikel ini membincangkan berkenaan akad-akad Shariah yang digunapakai dalam transaksi perbankan antarabangsa Islam. Metodologi kajian yang digunakan dalam artikel ini adalah berdasarkan metodologi penyelidikan dokumen dalam menghuraikan... more
Artikel ini membincangkan berkenaan akad-akad Shariah yang digunapakai dalam transaksi perbankan antarabangsa Islam. Metodologi kajian yang digunakan dalam artikel ini adalah berdasarkan metodologi penyelidikan dokumen dalam menghuraikan setiap akad tersebut dengan terperinci berdasarkan pandangan ulama’ Islam. Dalam pada itu, penyelidikan lapangan melalui temubual dengan beberapa orang pegawai bank Islam yang menawarkan produk pembiayaan bagi transaksi perbankan antarbangsa Islam juga telah dilakukan. Artikel ini dibahagikan kepada dua bahagian iaitu bahagian pertama memperincikan semua akad yang digunakan oleh institusi perbankan Islam dalam pembiayaan perbankan antarabangsa mereka dan bahagian kedua, menghuraikan tentang instrumen-instrumen yang telah diparaktikan oleh institusi ini dalam menyediakan produk pembiayaan perbankan antarabangsa kepada pelanggan.
Focar a atenção exclusivamente nas clássicas Instituições Financeiras Internacionais (IFIs), como o Banco Internacional de Reconstrução e Desenvolvimento (BIRD), Banco Interamericano de Desenvolvimento (BID) e o Fundo Monetário... more
Focar a atenção exclusivamente nas clássicas Instituições Financeiras Internacionais (IFIs), como o Banco Internacional de Reconstrução e Desenvolvimento (BIRD), Banco Interamericano
de Desenvolvimento (BID) e o Fundo Monetário Internacional (FMI), não contempla os múltiplos fatores, meios e percursos envolvidos na relação entre financiamento, megaprojetos e a perspectiva neoliberal que orientam as políticas da maioria (se não da totalidade) dos Estados na América do Sul1. Não
porque estas agências político-financeiras não tenham mais um papel relevante nessa relação; pelo contrário, continuam
tendo. O fato é que novos atores políticos e projetos econômico-financeiros são, na atualidade, tão ou mais importantes
que essas instituições.
1 - La création d’un « marché » des services de paiement au sein de l’Union européenne, initiée par la directive 2007/64/CE du 13 novembre 2007 1 (« DSP 1 ») est depuis l’origine vue comme un facteur d’intégration entre les États membres.... more
1 - La création d’un « marché » des services de paiement au sein de l’Union européenne, initiée par la directive 2007/64/CE du 13 novembre 2007 1 (« DSP 1 ») est depuis l’origine vue comme un facteur d’intégration entre les États membres. L’harmonisation des règles relatives aux services de paiement créant un « cadre juridique moderne et cohérent pour les services de paiement » se veut également être un relais pour la promotion de conditions de concurrence équitables pour tous et favorables au consommateur. Or la configuration d’un marché – fût-il lié à l’échange de marchandises matérielles ou à l’utilisation de données dématérialisées telles que les opérations de paiement – implique nécessairement la délimitation de son champ d’action. L’extension du champ d’application des règles sur les services de paiement est double. D’une part, les règles du marché des services de paiement ont en effet vocation à s’appliquer non plus seulement à l’intérieur des frontières de l’Union européenne et de l’Espace économique européen, mais concernent aussi désormais des paiements dépassant les frontières de ces deux territoires. D’autre part, des services de paiement fournis dans une autre monnaie que celle d’un État membre de l’Union européenne ou d’un État partie à l’Espace économique européen sont également visés, alors qu’auparavant, seuls les paiements réalisés dans l’unité monétaire d’un État appartenant à l’un de ces deux territoires étaient concernés par ces mesures.
This is a limited book preview. The book lays out a (qualitative) model that is in line with the IMF’s (quantitative) comprehensive balance sheet methodology for diagnosing macroeconomic vulnerabilities. The model may be used as a policy... more
This is a limited book preview. The book lays out a (qualitative) model that is in line with the IMF’s (quantitative) comprehensive balance sheet methodology for diagnosing macroeconomic vulnerabilities. The model may be used as a policy tool for hedging an economy against recession and high indebtedness, as well as for enabling an entrapped economy to escape its debt spiral through a plan of structural reform that is economically effective and socio-politically cohesive (shock-absorbing): Such a plan may be an applicable alternative to ineffective policies that are often (expediently) gradualist or (deficiently) shock therapist. In addition to solid empirical evidence, the model draws upon a broad interdisciplinary theoretical background, and introduces two prime innovations: first, a long-due definition of the classic concept of measure in human behavior and organization, and, second, specification of a perspectivist solution to a system of differential equations. In this context, the model constitutes not merely an empirical hypothesis but primarily a methodological tool for relativist policy making.
This write-up explores Standby Letter of Credits as a Financial Instrument, and some of its weaknesses, with particular attention to Fraud as a defense Mechanism. With the use of relevant case law, there is an examination of the degree of... more
This write-up explores Standby Letter of Credits as a Financial Instrument, and some of its weaknesses, with particular attention to Fraud as a defense Mechanism. With the use of relevant case law, there is an examination of the degree of protection given to the buyer or seller against breach of financial obligation. This protection is a bit low because of the focus English courts have on the maxim “ex turpi causa non oritur action”.
The uncoordinated reorganization and resolution of Systemically Important Financial Institutions in different countries pose many challenges. Contingent capital provides a viable alternative for the efficient restructuring and resolution... more
The uncoordinated reorganization and resolution of Systemically Important Financial Institutions in different countries pose many challenges. Contingent capital provides a viable alternative for the efficient restructuring and resolution of failing financial institutions. Contingent Capital provides a mechanism for internalizing banks’ failure costs and helps return distressed financial institutions to solvency. This article offers a comparative perspective on bank resolution and restructuring in the European Union, Switzerland, the United Kingdom and Germany and shows that Contingent Capital could play a substantial role in bank restructuring.
This paper compares and contrasts the hedge strategies through derivative instruments by Indian and USA corporate houses. The derivative instruments have little predictive power in explaining corporate hedging strategies both in the USA... more
This paper compares and contrasts the hedge strategies through derivative instruments by Indian and USA corporate houses. The derivative instruments have little predictive power in explaining corporate hedging strategies both in the USA and Indian firms. The purpose of the study is to provide a setting where reconciling conflicting results from the literature may be appropriate and to compare different hedge strategies in a specific period in two different countries (USA and India). The evidence based on multivariate empirical relations between hedging in American firms and firm's characteristics fails to provide any support for any of the tested hypotheses except for profitability represented by dividend yield. We conclude that the relationship between hedging and dividend yield in the proposed model is negative. The same analysis conducted for Indian companies has shown that there is no statistically significant explanatory variable for hedging; therefore, it is not dependent on any of the predicted theories of hedging. On the other hand, we find some significant relationships between firms' characteristics. Large Indian firms use internal hedge strategies rather than market strategies, such as derivatives. The derivative market development then could play a major role in terms of risk management of firms across countries.
This working paper presents an originally compiled database of European Investment Bank (EIB) lending based on the EIB Annual Reports and documents available at the Historical Archives of the European Union, covering all loans over the... more
This working paper presents an originally compiled database of European Investment Bank (EIB) lending based on the EIB Annual Reports and documents available at the Historical Archives of the European Union, covering all loans over the period 1958 – 2012. It describes the content of the database, which compiles more than 13,000 loans to 180 countries in a detailed project-by-project basis, the information sources utilized and the coding rules used to create an index of categories. It also includes the borrowings made by the EIB on the financial markets from 1961 to 2012 (with their respective term and nominal rate), exchange rates and subscribed capital. The paper compares the database with the information provided by the EIB webpage, provides descriptive statistics and discusses some possible applications. This database improves transparency and the understanding of the largest worldwide lender, contributing to close the existent gap within the literature concerning this public institution.
Avec l'arrêt du 29 mars 2017 de la Cour de cassation, le secret bancaire connaît de nouvelles limites. L'une d'entre elle est générale et crée un obstacle de taille à son opposabilité devant le juge civil : le droit à la preuve protégé... more
Avec l'arrêt du 29 mars 2017 de la Cour de cassation, le secret bancaire connaît de nouvelles limites. L'une d'entre elle est générale et crée un obstacle de taille à son opposabilité devant le juge civil : le droit à la preuve protégé par l'article 6 de la CEDH
Securitization has been defining feature of the modern law of financial markets, for good and bad reasons, from its susceptibility to enhance liquidity and risk-sharing, to its contribution to the 2007-2008 financial crisis. Few works... more
Securitization has been defining feature of the modern law of financial markets, for good and bad reasons, from its susceptibility to enhance liquidity and risk-sharing, to its contribution to the 2007-2008 financial crisis. Few works provide a comprehensive account. This books tries to do just that, by treating the transaction from the perspective of creditor protection rules (insolvency included), investor protection, financial regulation, private international law, and the law on free movement
Various mechanisms of prudential oversight over the financial system can help to make an economy more resistant to contagious financial shocks. Better and more realistic supervision of institutions is needed both in capital-importing and... more
Various mechanisms of prudential oversight over the financial system can help to make an economy more resistant to contagious financial shocks. Better and more realistic supervision of institutions is needed both in capital-importing and capital-exporting countries. This paper examines international rules for capital ratios, how far implicit and explicit guarantees undermine financial agents’ and institutions’ sense of responsibility for their own decisions, what can be done to strengthen the operation of market discipline for banks, and the need to develop deeper financial markets so that the concentration of the risks in the banking system can be diluted. Given differences in country circumstances, the focus of international cooperation should be to ensure that generally agreed principles needed to ensure strong banking systems are applied worldwide.
This paper explains the strategic penetration through mergers and acquisitions in international financial large corporate in emerging countries like Mexico and the clash of European and Mexican management cultures. As a case study is... more
This paper explains the strategic penetration through mergers and acquisitions in international financial large corporate in emerging countries like Mexico and the clash of European and Mexican management cultures. As a case study is taken as a basis, the merger and consolidation of the Spanish Banco Santander in Mexico, what was your strategy for fusion of Mexican banks? How was his way of governance in the country? Concluding and Banco Santander through mergers and acquisitions have become the fourth strongest banking Mexico and one of the strongest banks in the world, as part of the explanation is considered their form of governance.
This paper looks at what variables have been found useful in various studies for predicting financial crises. In particular it shows how data compiled by the Bank for International Settlements can assist in this process. It concludes by... more
This paper looks at what variables have been found useful in various studies for predicting financial crises. In particular it shows how data compiled by the Bank for International Settlements can assist in this process. It concludes by drawing some implications for statistical agencies.
This working paper presents an originally compiled database of European Investment Bank (EIB) lending based on the EIB Annual Reports and documents available at the Historical Archives of the European Union, covering all loans over the... more
This working paper presents an originally compiled database of European Investment Bank (EIB) lending based on the EIB Annual Reports and documents available at the Historical Archives of the European Union, covering all loans over the period 1958 – 2012. It describes the content of the database, which compiles more than 13,000 loans to 180 countries in a detailed project-by-project basis, the information sources utilized and the coding rules used to create an index of categories. It also includes the borrowings made by the EIB on the financial markets from 1961 to 2012 (with their respective term and nominal rate), exchange rates and subscribed capital. The paper compares the database with the information provided by the EIB webpage, provides descriptive statistics and discusses some possible applications. This database improves transparency and the understanding of the largest worldwide lender, contributing to close the existent gap within the literature concerning this public ins...
Le transhumanisme est une doctrine, voire une philosophie selon laquelle l'homme peut être amélioré. Appliquée au monde de la Finance, cette conception conduit à ce que les robots remplacent de plus les hommes dans les décisions... more
Le transhumanisme est une doctrine, voire une philosophie selon laquelle l'homme peut être amélioré. Appliquée au monde de la Finance, cette conception conduit à ce que les robots remplacent de plus les hommes dans les décisions d'investissement ou les travaux de recherches. Faut il s'en inquiéter ? Certainement.
La formacion, estructura y funcionamiento de los sistemas financieros modernos tienen una larga tradicion en los estudios de historia economica y en los de desarrollo economico. La mayoria de estos analisis, abordados desde una... more
La formacion, estructura y funcionamiento de los sistemas financieros modernos tienen una larga tradicion en los estudios de historia economica y en los de desarrollo economico. La mayoria de estos analisis, abordados desde una perspectiva historica, han centrado su atencion en experiencias o casos nacionales, y cuando se ha buscado la comparacion, en ocasiones se ha puesto el enfasis bien en los aspectos normativos e institucionales de los problemas, bien en una verificacion econometrica de la alta asociacion entre estructura financiera y crecimiento economico. Similares resultados se han ofrecido por parte de los economistas de la evolucion economica para las sociedades de "desarrollo reciente", al constatar la importancia de los factores financieros a la hora de explicar el exito o el fracaso relativo, en cada pais, del proceso de crecimiento economico moderno. En el presente volumen se pretende contribuir a esta amplia discusion, con un enfoque historico, que centra la atencion en la comparacion de un numero selecto de estudios sobre las trayectorias de bancos de Espana y America Latina en el largo plazo, desde los origenes hasta la creacion de los bancos centrales y de la banca de desarrollo.
In 2012, 10th Circuit Court of Appeals upheld a preliminary injunction to an approved Constitutional Amendment that would prevent Oklahoma state courts from considering or using Sharia law. Since then, many states have passed... more
In 2012, 10th Circuit Court of Appeals upheld a preliminary injunction to an approved Constitutional Amendment that would prevent Oklahoma state courts from considering or using Sharia law. Since then, many states have passed legislation or amendments trying to ban Sharia Law as a reaction to the public’s fear that Sharia Law may be implemented in the U.S. States argue that Sharia Law runs counter to the American justice system and the values of our society and is in violation of the 1st Amendment of U.S. Constitution. I argue that these fears are unfounded. U.S. Supreme Court likely will hold legalization of Sharia Law as unconstitutional in violation of the First Amendment of the Constitution.
Publié au JDI 2014, doctr. 15 Le secret bancaire, institution qui existe dans tous les États européens et qui vise à protéger la vie privée des clients des banques, soulève fondamentalement deux questions lorsqu'il est confronté à la... more
Publié au JDI 2014, doctr. 15 Le secret bancaire, institution qui existe dans tous les États européens et qui vise à protéger la vie privée des clients des banques, soulève fondamentalement deux questions lorsqu'il est confronté à la problématique des droits de l'homme. La première est de savoir si, en soi, le secret bancaire doit être assimilé à un droit de l'homme, bénéficiant de l'arsenal conventionnel posant la protection de ce droit subjectif au-delà de la sphère nationale du droit. La seconde, toute aussi ardue, consiste à arbitrer les conflits entre droits de l'homme que suscite le secret bancaire. Celui-ci risque en effet de malmener tant le droit d'accès à la justice (décliné sous ses différentes formes que sont le droit à la preuve, les droits de la défense et de non-incrimination) que le droit à la transparence, certes non encore précisément formulé mais qui réside au coeur de certains droits de l'homme, ou encore que l'égalité de tous devant l'impôt. Face aux droits de l'homme, le « droit au » secret bancaire, qui n'est qu'une obligation de confidentialité à la charge du banquier, devrait s'incliner.