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Purpose: This paper focuses on the different Shari'ah resolutions on preference shares. This study aims to provide a systematic review to cover all authentic, peer-reviewed literature on this issue between the years 2001 and 2020. Design/methodology/approach: This library research combines, compares and contrasts the discussions and the results of all these papers besides the opinions and discussions of some renowned scholars in the field. Findings: The aim of this paper was met as every research during that period was included and scrutinized which resulted in a comprehensive knowledge about the presence shares. Research limitations/implications: One of the limitations was the limited research on the Shari'ah issues in preference shares as a regulatory capital that meets Basel III accords. Originality/value: This paper will be the reference for any researcher who wants to add value on this issue and to start from where researchers ended. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to fill the momentous gap by explicitly investigating the asymmetric effects of monetary policy (MP) on non-bank financial intermediation (NBFI) assets. Design/methodology/approach: The authors utilized panel data from 29 countries for the period of 2012–2020 and used the quantile regression estimation. In addition to simultaneous quantile regression (SQR), the authors also employ quantile regression with clustered data (Parente and Silva, 2016) and the generalized quantile regression (GQR) method (Powell, 2020). Findings: The empirical results show a significant heterogeneous impact of MP. While there is a positive relationship between MP and NBFI assets ("waterbed effect") at lower quantiles of NBFI assets, at middle and higher quantiles, MP has a negative impact on NBFI assets ("search for yield" effect). The authors further find that negative impact strengthens as the quantile levels of NBFI assets rise from mid to high. Findings also reveal that "procyclicality" (except higher quantile) and "institutional demand" hypotheses hold. However, regarding "regulatory arbitrage," mixed results are observed indicating the impact of Basel III requirements. Originality/value: Previous empirical studies have concentrated on either the Dynamic Stochastic General Equilibrium (DSGE) framework or conditional mean regression approaches and delivered mixed findings of the MP effects on NBFI. The current paper takes a step toward dealing with this issue by deploying quantile regression methodology, which shows the impact of MP on NBFI at different conditional distributions (quantiles) of NBFI assets instead of just NBFI's conditional mean distribution. [ABSTRACT FROM AUTHOR]

Motivation: In the face of contemporary environmental and economic challenges, a transition to more sustainable global plastics economy is crucial. Countries are implementing circular economy solutions, but one of the common problems is so called "waste tourism" -- export of plastic waste to other countries, often less developed. It contributes to global environmental problems but frequently surfaces also as inefficient resource management/trade and an ethical question as well. Transboundary movements of plastic waste from EU countries should be based on the principles set out in the Basel Convention which entail minimizing and disposing all kind of waste in an environmentally sound manner, minimizing the amount of waste transported and treating and disposing it as close as possible to its place of origin. Unfortunately, European plastic waste is exported in large quantities, often to less developed countries and not processed in accordance with European standards. Aim: This paper aims to identify the volume and directions of UE countries export patterns of plastic waste, its impact on the Sustainable Development Goals and trends in global and EU rules on transboundary plastic waste movements. The considerations are based, to a great extent, on literature on the subject-matter and secondary data, i.e. export data under the trade code 3915 (Waste, pairings and scrap of plastics) derived from the UN Comtrade and Eurostat Database, SDGs data derived from Sustainable Development Report 2022 and UN database and main legal basis for the international trade in plastic waste (the Basel Convention with its recent amendments) and its trends. Results: EU countries are still the leaders in exporting plastic waste, making it difficult to achieve the 12th SDG. Changes to the Basel Convention have not significantly affected the volume and destinations of EU plastic waste exports. They organize the categories of plastic waste but still leave an ample room for undesirable activities. Although the EU's proposals are more restrictive, the most desirable solution is a complete ban on the export of plastic waste by EU countries outside the EU. [ABSTRACT FROM AUTHOR]

Scholarship demonstrated the major role of inheritance and kinship for elite's power reproduction, particularly among noble families. In the absence of monarchic and court structures, ruling classes that enjoyed privileges and engaged in social closure could become the functional equivalent of a nobility. In this paper, we examine the evolution of the power of Swiss patrician families in the three major Swiss cities (Basel, Geneva, and Zurich) since the end of the nineteenth century and assess whether urban oligarchies endure in the twentieth century and what role kinship ties play in the reproduction of power structures. Building on a systematic database of 5,199 urban elites who hold power positions in the main economic, political, academic, and cultural institutions, we describe the evolution of Swiss patrician families between 1890 and 1957. Using social network, kinship, and sequence analysis, we provide a comprehensive investigation of the Swiss patrician elite's evolution at both the individual and the family level. Our analyses show a general decline of patrician families' presence in urban positions of power, however with significant variations according to both the cities and the spheres of activity. Furthermore, we identify distinct trajectories of families who have either lost their access to power positions, managed to access again or have remained in urban power positions according to different survival strategies. Beyond the Swiss case, we contribute to the literature on power and kinship through an interdisciplinary approach combining historical and sociological perspectives. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine the simultaneous effect of variations in the Capital Adequacy Ratio and Credit Risk of Islamic banks of the Gulf Cooperation Council under the influence of the Basel III regulations using an innovative approach. Design/methodology/approach: This approach highlights the critical importance of the Basel III reform in preserving the stability of the regional and international financial sector in the Gulf Cooperation Council and globally by examining the complex dynamics between Capital Adequacy Ratio and Credit Risk and their interaction under regulatory constraints. The annual reports and financial performance of 26 Islamic banks were analyzed over the period 2013–2021. Findings: The findings highlight the critical importance of the Basel III reform in preserving the stability of the regional and international financial sector in the Gulf Cooperation Council and globally by examining the complex dynamics between Capital Adequacy Ratio and Credit Risk and their interaction under regulatory constraints. The annual reports and financial performance of 26 Islamic banks were analyzed over the period 2013–2021. Originality/value: The insights from findings help define effective strategies to manage and mitigate Credit Risk while strengthening solvency under Basel III prudential supervision. Policymakers, regulatory authorities and banking institutions can optimize the management of Credit Risk and create a robust and stable financial environment for Islamic banks. [ABSTRACT FROM AUTHOR]

Bangladesh, the largest producer of steel from decommissioned ships, is the most dominant player in the global shipbreaking industry. However, managing hazardous waste generated from ship disposal remains a significant concern for the local and international communities. Bangladesh ratified both the relevant international treaties namely the Hong Kong Convention and the Basel Convention and incorporated their provisions in its domestic system. However, the country's waste management practices particularly at the downstream level are hindered by insufficient enforcement of the national waste policy, fragmented responsibilities for waste operators, generators, and transporters, and lack of technical guidelines and procedures. Using a comparative research methodology and a multimodal decision-making model namely the Analytical Hierarchy Process, this article attempts to single out laws and policies that need to be addressed by Bangladesh to fulfill its mandates under international laws, particularly the Basel Convention and effectively contribute to the sustainability in the global shipbreaking industry. [ABSTRACT FROM AUTHOR]

On behalf of the SNS, we are pleased to present the Abstracts of the Annual Meeting which is held at the Congress Center in Basel, Switzerland, from 6–7 June 2024. In total, 83 abstracts were selected, whereof we include 8 abstracts for the Plenary Sessions, 6 abstracts for the SAYN GemSession, 30 abstracts for Poster flash presentations, and 39 abstracts as ePosters. We congratulate all the presenters on their research work and contributions. [ABSTRACT FROM AUTHOR]

We analyze multigenerational social mobility by drawing on a novel hand-collected data set from Basel (1550–2019) and using a new surname-based approach. We find an average parent–child persistence of about 0.4 and an average grandparent–child persistence of about 0.2 in a three-generational model applied to a time span of more than 450 years. A cyclical pattern indicates that social mobility was lowest in wartime generations, with spreading afterward. We measure a statistically significant additional influence of the grandparental generation but not of earlier generations. This reveals the importance of multigenerational analyses to examine equal opportunities in society. [ABSTRACT FROM AUTHOR]

Perceived stigmatization and low self-esteem are linked to poorer mental health outcomes, but their impact on treatment-seeking thresholds and the importance of outpatient service location remain unclear. The study included 525 outpatients of the University Psychiatric Clinic (UPK) Basel, Switzerland, of whom 346 were treated at inner city services and 179 at services located on the main site of the UPK at the outer city limits. Perceived discrimination and devaluation (PDD), selfesteem (SE), treatment-seeking threshold (TST), and accessibility were measured via a self-reported questionnaire. The PDD consisted of 12 items evaluating beliefs about the level of stigma towards individuals with mental illness in the general population on a 5-point Likert scale. SE, TST and accessibility were assessed through single-item 7-point Likert scales. PDD and SE were positively correlated (p < 0.001), suggesting that lower perceived stigma was linked to higher self-esteem, and were not associated with TST. The relationship between PDD and SE remained consistent after controlling for age, gender, and nationality. Age was negatively correlated with TST (p = 0.022), while gender did not significantly influence any of the variables. There was little variation regarding PDD, with emergencies at the site of the psychiatric clinic and substance use disorder (SUD) patients reporting higher levels of stigmatization. Emergency patients and those with SUD and personality disorder reported the lowest SE ratings. TST showed a broad range and was highest for emergency services and transcultural psychiatry patients. Differences in accessibility were mainly linked to the location, with outpatient service users in the inner city reporting better accessibility (p < 0.001) and higher SE (p = 0.009). In comparison to patients using services with planned contacts only, patients in emergency settings differed by higher TST (p = 0.018) and better ratings of accessibility (p = 0.004). In conclusion, there was a relevant amount of stigmatization, impaired self-esteem, and, for some outpatient services, high thresholds to seek treatment. Future research should explore other factors influencing TST. The findings highlight the need to address stigmatization and accessibility when planning mental health services. [ABSTRACT FROM AUTHOR]

We prove that (under appropriate orientation conditions, depending on R) a Hamiltonian isotopy ψ 1 of a symplectic manifold (M , ω) fixing a relatively exact Lagrangian L setwise must act trivially on R ∗ (L) , where R ∗ is some generalised homology theory. We use a strategy inspired by that of Hu et al. (Geom Topol 15:1617–1650, 2011), who proved an analogous result over Z / 2 and over Z under stronger orientation assumptions. However the differences in our approaches let us deduce that if L is a homotopy sphere, ψ 1 | L is homotopic to the identity. Our technical set-up differs from both theirs and that of Cohen et al. (in: Algebraic topology, Springer, Berlin, 2019) and Cohen (in: The Floer memorial volume, Birkhäuser, Basel). We also prove (under similar conditions) that ψ 1 | L acts trivially on R ∗ (L L) , where L L is the free loop space of L. From this we deduce that when L is a surface or a K (π , 1) , ψ 1 | L is homotopic to the identity. Using methods of Lalonde and McDuff (Topology 42:309–347, 2003), we also show that given a family of Lagrangians all of which are Hamiltonian isotopic to L over a sphere or a torus, the associated fibre bundle cohomologically splits over Z / 2 . [ABSTRACT FROM AUTHOR]

The adequacy of capital has become a concerned issue because banks being the highly leveraged sector face high risks. So, it is desirable to know at which level of capital is adequate for banks. The focus on capital have existed for a long time but now the definition of capital has changed for banking business due to changes and advancement in banking operations. A bank with higher capital adequacy ratio is considered safe and capable to meet its obligations. The Reserve Bank of India requires all scheduled commercial banks to meet the capital level as stipulated under Basel III norms to comply with international standards. According to the guidelines of Bank for International Settlements (BIS), the banks should maintain that level of capital where a bank can easily recover unexpected shocks and crisis. The adequacy of capital is the measure of financial soundness of banks and indicator of financial health of banks. The banking activities are exposed to various kinds of risks and to manage these risks, banks must maintain sufficient capital. Therefore, it is necessary to set the regulatory guidelines for limits of capital hold by banks. Thus, the present study intends to examine the trends and consistency of capital adequacy ratio of twenty one Indian public sector banks for the period of ten years (2008–2017). The results conclude that the level of capital ratio as per Basel III norms maintained by Indian public sector banks determines the bank’s strength and position. [ABSTRACT FROM AUTHOR]

The development of novel anticoagulants requires a comprehensive investigational approach that is capable of characterizing different aspects of antithrombotic activity. The necessary experiments include both in vitro assays and studies on animal models. The required in vivo approaches include the assessment of pharmacokinetic and pharmacodynamic profiles and studies of hemorrhagic and antithrombotic effects. Comparison of anticoagulants with different mechanisms of action and administration types requires unification of the experiment scheme and its adaptation to existing laboratory conditions. The rodent thrombosis models in combination with the assessment of hemostasis parameters and hematological analysis are the classic methods for conducting preclinical studies. We report an approach for the comparative study of the activity of different anticoagulants in vivo, including the investigation of pharmacodynamics and the assessment of hemorrhagic effects (tail-cut bleeding model) and pathological thrombus formation (inferior vena cava stenosis model of venous thrombosis). The reproducibility and uniformity of our set of experiments were illustrated on unfractionated heparin and dabigatran etexilate (the most common pharmaceuticals in antithrombic therapy) as comparator drugs and an experimental drug variegin from the tick Amblyomma variegatum. Variegin is notorious since it is a potential analogue of bivalirudin (Angiomax, Novartis AG, Basel, Switzerland), which is now being actively introduced into antithrombotic therapy. [ABSTRACT FROM AUTHOR]

Many genes that regulate development share a 180 bp DNA sequence, called the homeobox, encoding a 60 amino acid DNAbinding domain (McGinnis et al., 1984c; Scott and Weiner, 1984). Because the homeobox is long enough to hybridize to related, but different, genes, it has been a powerful tool for discovering developmental regulators. This year is the 40th anniversary of the first homeobox report. Here, I describe work carried out at Indiana University that led to the discovery of the homeobox. The accompanying Perspective from McGinnis and Levine describes the independent discovery made at the Biozentrum in Basel (McGinnis and Levine, 2024). At the time, the competition was lively but, as we all met each other - and realized that no one cares more about your work than competitors - we fortunately became friends and have enjoyed many years of following and respecting each other's work. [ABSTRACT FROM AUTHOR]

Liquidity risk was at the heart of 2007–2008 global financial crisis, which has led to a series of financial institutions failure. We test whether and how liquidity risk impacts European banks' stability (i.e., a bank risk-return profile) under different levels of engagement in non-traditional banking activities after the global financial crisis and during the implementation of the Basel III liquidity rules. To calculate financial stability, we adopt an efficiency perspective based on the combination of the CAMELS rating system with the data envelopment analysis technique. We implement a nonlinear panel smooth transition regression approach, where transitional factors of income diversification are endogenously captured from the data. We find that, liquidity risk stemming from liquidity creation has a positive impact on bank stability, implying that income diversification can serve as a "buffer" through which banks can ensure their liquidity creation and offset for the compression of intermediation margin in lending and deposit activities. This suggests that diversification does not impede the ability of banks to operate with lower liquidity holdings but allows them to make greater use of their balance sheets to fulfill their primary roles of credit provision and liquidity creation. The results offer interesting implications for regulators and bank managers in managing liquidity risk. [ABSTRACT FROM AUTHOR]

This randomized prospective clinical study aims to analyze the differences between the computer-assisted planned implant position and the clinically realized implant position using dynamic navigation. In the randomized prospective clinical study, 30 patients were recruited, of whom 27 could receive an implant (BLT, Straumann Institut AG, Basel, Switzerland) using a dynamic computer-assisted approach. Patients with at least six teeth in their jaws to be implanted were included in the study. Digital planning was performed using cone beam tomography imaging, and the visualization of the actual situation was carried out using an intraoral scan. Two different workflows with differently prepared reference markers were performed with 15 patients per group. The actual clinically achieved implant position was recorded with scan bodies fixed to the implants and an intraoral scan. The deviations between the planned and realized implant positions were recorded using evaluation software. The clinical examinations revealed no significant differences between procedures A and B in the mesiodistal, buccolingual and apicocoronal directions. For the mean angular deviation, group B showed a significantly more accurate value of 2.7° (95% CI 1.6–3.9°) than group A, with a value of 6.3° (95% CI 4.0–8.7°). The mean 3D deviation at the implant shoulder was 2.35 mm for workflow A (95% CI 1.92–2.78 mm) and 1.62 mm for workflow B (95% CI 1.2–2.05 mm). Workflow B also showed significantly higher accuracy in this respect. Similar values were determined at the implant apex. The clinical examination shows that sufficiently accurate implant placement is possible with the dynamic navigation system used here. The use of different workflows sometimes resulted in significantly different accuracy results. The data of the present study are comparable with the published findings of other static and dynamic navigation procedures. [ABSTRACT FROM AUTHOR]

Twelve solitary and platy, colonial coral taxa assigned to the families Microsolenidae, Misistellidae, Montlivaltiidae, Rayasmiliidae, and Thamnasteriidae are described and illustrated from the Callovian (Ifenthal Formation, Herznach Member) of the area of Andil near Liesberg, about 20 km WSW of the town of Basel, Switzerland. The platy growth forms and the presence of five species of the superfamily Cyclolitoidea suggests that these corals lived under low-level light conditions. [ABSTRACT FROM AUTHOR]

The Upper Rhine Graben (URG), located in France and Germany, is bordered by north–south-trending faults, some of which are considered active, posing a potential threat to the dense population and infrastructures on the Alsace plain. The largest historical earthquake in the region was the M6.5±0.5 Basel earthquake in 1356. Current seismicity (M>2.5 since 1960) is mostly diffuse and located within the graben. We build upon previous seismic hazard studies of the URG by exploring uncertainties in greater detail and revisiting a number of assumptions. We first take into account the limited evidence of neotectonic activity and then explore tectonic scenarios that have not been taken into account previously, exploring uncertainties for Mmax , its recurrence time, the b value, and the moment released aseismically or through aftershocks. Uncertainties in faults' moment deficit rates, on the observed seismic events' magnitude–frequency distribution and on the moment–area scaling law of earthquakes, are also explored. Assuming a purely dip-slip normal faulting mechanism associated with a simplified model with three main faults, Mmax maximum probability is estimated at Mw 6.1. Considering this scenario, there would be a 99 % probability that Mmax is less than 7.3. In contrast, with a strike-slip assumption associated with a four-main-fault model, consistent with recent paleoseismological studies and the present-day stress field, Mmax is estimated at Mw 6.8. Based on this scenario, there would be a 99 % probability that Mmax is less than 7.6. [ABSTRACT FROM AUTHOR]

Under the revised market risk framework of the Basel Committee on Banking Supervision, the model validation regime for internal models now requires that models capture the tail risk in profit-and-loss (P&L) distributions at the trading desk level. We develop multi-desk backtests, which simultaneously test all trading desk models and which exploit all the information available in the presence of an unknown correlation structure between desks. We propose a multi-desk extension of the spectral test of Gordy and McNeil, which allows the evaluation of a model at more than one confidence level and contains a multi-desk value-at-risk (VaR) backtest as a special case. The spectral tests make use of realised probability integral transform values based on estimated P&L distributions for each desk and are more informative and more powerful than simpler tests based on VaR violation indicators. The new backtests are easy to implement with a reasonable running time; in a series of simulation studies, we show that they have good size and power properties. [ABSTRACT FROM AUTHOR]