Search

Purpose: The research aimed to assess the proportion of cooperative banks in the market of entities servicing commune budgets and to identify the specific characteristics of local government units whose budgets are handled by cooperative banks. Design/methodology/approach: Covering 1 116 communes across six chosen voivodeships in Poland, the study encompassed regions with diverse conditions and traditions influencing cooperative banking models. Primary data were sourced from the official websites of the communes and Statistics Poland's Local Data Bank. The research, conducted in the first half of 2023, employed indicators of structure and dynamics, descriptive statistics, and the nonparametric χ2 test for analysis. Findings: The findings revealed that cooperative banks accounted for 80% of entities servicing commune budgets. Notably, they predominated in Little Poland Voivodeship and were more prevalent in rural and urban-rural communes, as well as in less populated areas and communes with own revenue per capita below PLN 2,000. Research limitations/implications: While the study acknowledges limitations due to the evolving nature of the cooperative banking sector and the changing dynamics of communebank cooperation, it suggests the need for future research to track these transformations. Practical implications: Practically, the research outcomes can inform the strategies and marketing plans of cooperative banks. Social implications: Socially, they contribute to enhancing trust in cooperative banks among the public and commune authorities, underscoring their significance in local development processes. Originality/value: The study's novelty lies in its exploration of cooperative banks' market share in communal finances and its identification of commune characteristics associated with cooperative banking. It addresses a gap in management and economics literature, offering insights previously unexplored in both domestic and foreign publications, and providing current, concrete data on the subject. [ABSTRACT FROM AUTHOR]

Technology is important to the banking industry. One of the biggest financial institutions, banking, is constantly looking for ways to offer customers more convenience and a better customer experience through technology-enabled services. In the information age, everyone has a mobile phone, which is an everyday technological item. A growing alternative avenue for offering banking services is mobile banking. Gathered data for this research study from both primary and secondary sources. The basic data was gathered through a questionnaire that was delivered to 224 in rural area. Financial inclusion means having access to services and goods including bank accounts, insurance, remittance and payment services, financial consulting services, etc. Mobile banking is a popular choice among those with low incomes since it is simple to use, handy, affordable, and secure. Historically, the poor have resided in the unorganized sector, where they have little access to banking services. They can now take advantage of the same range of financial services with mobile banking. The mobile banking system is absolutely appropriate for the distant places given that it is an easily accessible, cheaper, more comfortable and faster means of sending and receiving money. Rural areas see an increase in financial activity, which supports economic growth. [ABSTRACT FROM AUTHOR]

The EU Treaties provide several possibilities to sanction EU Member States for failing to comply with EU law. The EU has a legal basis for so-called EU sanctions in Article 215 of the Treaty on the Functioning of the EU, aimed at third countries (i.e. countries outside the EU) and their legal entities (e.g., in Belarus, Russia). Over recent years, sanctions against third countries have become increasingly frequent. This article delves into the legal framework for adopting EU sanctions, the potential legal protection available to sanctioned individuals, and the relevant case law of the Court of Justice of the EU. In this context, the question of whether Abramovich or some other Russian citizens on the sanctions list can access funds from EU bank accounts or enter the EU will be addressed. [ABSTRACT FROM AUTHOR]

Many disputes occur between the bank and customers as a result of the implementation of the contracts that bind them. So the bank presents its accounting data as evidence to prove its right or pleaded customer’s claim of his rights. The main subject of the research e is the extent of authenticity of these data, which the bank made. Also the extent of the validity of the condition that banks place in their contracts, which provides for absolute authenticity of the accounting data issued by the bank and its requirement to prevent appeals to these restrictions. The research concludes that the judiciary recognizes the validity of these conditions in the part related to its argument and invalidates it the possibility of appeal. The research follows inductive and analytical approach in order to monitor all the laws that regulate the authenticity of accounting data, which are numerous and dispersed within the Palestinian legal system including Trade Law No. 12 of 1966, Banking Law Resolution No.9 of 2010, and Electronic Transactions Law No.15 of 2017 as well as Evidence Law N.4 of 2001. The research compares between the laws that regulated the subject, especially the French law, which considered these conditions arbitrary. The Palestinian law considers accounting data as evidence by a specific provision which is the sixth paragraph of article 46 in the Banking Law Resolution No. 9 of 2010. The research find out that the Palestinian judiciary is not based on this article in any of its decisions [ABSTRACT FROM AUTHOR]

A society's financial inclusion - understood as possessing and actively using a bank or non-bank account - is one of many indicators of sustainable growth and economic development. The COVID-19 pandemic has accelerated the process of financial integration through the use of modern technologies in finance, financial innovation and the need to have an account to receive aid from government crisis shields or to confirm official activities through a trusted profile in a bank. Furthermore, EU regulations have accelerated the process of financial integration through the institution of a basic bank account and open banking solutions. Financial education programs and activities of financial institutions under the Corporate Social Responsibility (CSR)/Environment Social Governance (ESG) strategy have also contributed to improving financial literacy, which directly reduces financial self-exclusion. The aim of the article is to check whether financial inclusion has increased during the pandemic and to identify socio-demographic determinants of this inclusion such as sex, age, in or out labor force, education, and wealth level in selected CEE countries. The article uses statistical data from The Global Findex research conducted since 2011 and by the World Bank, covering the period 2011-2021. The empirical study confirmed that during the COVID-19 pandemic, the largest increases in the percentage of people aged 15+ with a bank account were recorded, and the studied Central and Eastern European countries differed in this respect. Selected socio-demographic variables differentiated the level of financial integration in the analysed countries. The level of financial inclusion in selected European countries increased in the considered period, especially in countries with the initially lowest level of financial inclusion (Ukraine, Bulgaria). Financial inclusion was positively influenced by professional activity, at least secondary education, age of 25 and above, and high income. The greatest degree of financial inclusion was differentiated by education, and then by professional activity. However, sex was not shown to differentiate the level of financial inclusion. [ABSTRACT FROM AUTHOR]

The introductory part of the study analyzes the regulatory framework of the current bank account contract before and after the entry into force of the current Civil Code and the transitional legal provisions, depending on the limited and unlimited duration of this contract. In dealing with the legal relationship generated by the current bank account contract, it was emphasized that at least one of the contracting parties must be a credit institution and that the obligation to conclude the current bank account contract for certain categories of natural or legal persons is conditioned by the legal constraints regarding the mandatory way of carrying out the receipts and payments imposed by the strengthening of the financial discipline, without this giving the contract a mandatory or forced character. As regards the content of the contract, its standardized character was underlined, including in terms of the system of transferring external clauses or specific regulations related to the policy of each bank in the contractual clauses referring thereto, of which the client is not aware and which often introduce abusive clauses. From this perspective of the adhesion character of the contract, which deprives the client from legal protection, the modest framework of the regulation has a significant contribution. The object of the current account contract is treated in terms of the obligation of the credit institution to open the account and to carry out the credit or debit operation of the credit balance, but also of the client's right to dispose of the credit balance and of its obligation to bear the bank commissions and charges. The legal characters of the current bank account contract were also analyzed, the attention being paid to the treatment of the adhesion character of the contract and to the one of transfer of ownership, because the latter can explain the whole mechanism of the contract functions. The exercise of the right of the account holder to dispose over the credit balance is supported by the current bank account contract, through which the credit institution makes payments in the name and on behalf of the account holder, in compliance with the instructions with which he mandated it, in accordance with the relevant banking legislation and regulations, including with the internal rules of the depository bank. As regards the manner of exercising the right to dispose of the credit balance, the particularities of the exercise of this right by co-owners and co-holders were analyzed, as well as the issue of unavailability of the credit balance, the conditions and the limits of unavailability, by enforcement by garnishment. The clearing of balances, the conditions of its operation and its extended effects on the legal relations between the account holder and the credit institution were also discussed. The double onerous character of the current bank account contract was analyzed also from the perspective of the bonuses granted by the credit institution for the amounts in the credit balance, but also from the perspective of the account holder, bound by the obligation to pay bank commissions and charges. The cessation of the current bank account contract was treated according to its definite or indefinite duration and depending on the existence of general or special clauses of cessation of the contract. The procedure of unilateral denounciation of the current bank account contract was associated with the written communication of the denouciation and the term of legal notice, conventional or established according to the customs. The effects of the cessation of the contract are accompanied by the closing of the account, by the withdrawal by the client of the amounts remained in the credit balance or their deposit in a collector account until they are handed over to the client. The prescription term for the refund of the amounts from the account is that of 5 years and the moment from which it starts to flow is provided by Article 2190 of the Civil Code, differentiated as the cessation of the contract occurred on the initiative of the account holder or of the credit institution. [ABSTRACT FROM AUTHOR]

As the number of online transactions increases, so is the possibility of fraud. There are no face-to-face encounters, and the money is made through bank transfer. Fraudsters utilize a bank account to store their illicit funds. Currently, Indonesia's many laws and regulations cannot combat the numerous online frauds. When fraud occurs, it is usually difficult for the money sender (the victim) to get their money back. On the other hand, it is straightforward for a fraudster to obtain the funds deposited into their account and enjoy the fruits of their crime. This research was conducted utilizing a normative juridical methodology, and the consistency of policies in various Indonesian laws and regulations was investigated. This article contains doctrinal law studies about legal ideas, concepts, and rules. This study utilized legal documents such as statutes, journals, and other relevant publications. This study aims to examine the numerous Indonesian legal rules and their application in relation to the topic at hand. The outcomes of this research are recommendations for policy formulation, encompassing both penal and non-penal policies. The government must develop banking sector policies, account opening policies, and a system for blacklisting account owners whose accounts have been exploited for fraudulent purposes. The government must also establish more accessible and straightforward methods for reporting crimes. [ABSTRACT FROM AUTHOR]

Copyright of Studia Iuridica Toruniensia is the property of Nicolaus Copernicus University in Torun, Faculty of Law & Administration and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The purpose of tax audits is to verify that the taxpayer complies with the norms of tax legislation. As a rule, in conditions of instability, constantly changing tax legislation, taxpayers violate the norms of the Tax Code of the Russian Federation. In this regard, as a rule, each tax audit ends with additional charges to the taxpayer of taxes, penalties and penalties, which negatively affect their financial position. At the same time, according to the Federal Tax Service of Russia, with a sharp reduction in the number of ongoing on-site tax audits, the amount of additional charges for one on-site audit increases сonstantly: in 2016 – 13.6 million rubles, in 2017 – 15.7 million rubles, 2018 – 22.2 million rubles, 2019 – 33.5 million rubles. The tax authority, by charging additional taxes and penalties to the taxpayer, is interested in collecting them. The current Tax Code of the Russian Federation makes it possible to enforce the decision by taking measures in accordance with paragraph 10 of Art. 101 of the Tax Code of the Russian Federation, the application of which in practice raises many issues. The article considers the practice of applying interim measures.

Copyright of Al Bashaer Economic Journal is the property of Al Bashaer Economic Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The use of basic financial services, such as bank accounts, loans or savings, has become a necessary condition for participation in economic and social life. However, parts of the global population and firms remain excluded from the financial sector for various reasons. This paper aims to analyse the main issues of financial inclusion globally and its role in economic development. To achieve this goal, the economic and social benefits of financial inclusion are identified, as highlighted by the existing literature; further, the main factors that determine the exclusion of the population and firms from the financial system are revealed; and finally, the global trends in the evolution of the financial inclusion indicators are presented. Notwithstanding the role of financial inclusion in achieving important economic goals, our analysis highlights the existence of significant disparities internationally in the level of financial inclusion, as well as the need to address them through public policy actions.

New digital technologies now allow contactless payments to be made both at retail outlets and at a great distance from them. Until recently, such features were only a new tool to provide convenience to customers. Now, with the COVID-19 pandemic, cashless payments have become a necessity all over the world. At the same time, there are objective obstacles to a complete transition to cashless payments. The article analyzes the barriers to the transition to a cashless society exemplified by the EU countries, and assesses the development of cashless payments in Russia. The main obstacles are security in making payments and the isolation of certain population groups from the economic and social life of society. Security issues concern not only the prevention of money theft, but also the prevention of failures in electronic payment systems. People who do not have bank accounts or do not know how to use electronic payment instruments may find themselves in economic and social isolation. This could clearly be seen during the pandemic, when the elderly needed the help of volunteers to purchase goods because they could not use the services of online stores. The article identifies trends in the development of non-cash payments in the EU and Russia, including the circumstances associated with COVID-19. The development of cashless payments depends on economic stability, and one can expect a decrease in consumer activity in the sphere of using non-cash banking services in Russia and other countries due to the world economic crisis in 2020.

There are many technological developments in banks, one of which is online transactions. To get these transactions, an account should be opened using the electronic know you customer (e-KYC) verification system at banks. This research wants to know the differences in the factors that influence behavioral intentions to use e-KYC to open a bank account for SCB (The Siam Commercial Bank) Thailand and Bank Mandiri Indonesia. This is quantitative research using a survey. We have prepared a questionnaire of 160 respondents: 80 for Bank Mandiri and 80 for SCB. The results indicate that the willingness to use electronic identity verification services influence by the availability of technology, the external impact of the network, safety awareness, perception of trust, and perception of security. The perception of security affects the perception of trust, and technical protection, also the transaction procedure does not affect the perception of trust.

Abstract Background In Germany, general secondary education offers few opportunities for young adults to acquire knowledge and understanding of personal finance. Hence, apart from parents’ influence as role models, important influences on young adults’ financial knowledge and understanding likely include their personal experience with financial products and their behavior of informally seeking information about specific financial products. Methods In this paper, we investigate the relationships between these latter variables based on a sample of 1108 young adults from Germany, aged 17–25, beginning their studies in higher education. Knowledge and understanding of personal finance was assessed using the German adaptation of the US Test of Financial Literacy. In this paper, we focus on the dimension ‘Banking’ (covering financial investing, saving, using credit). In addition, we surveyed young adults’ experience in basic personal finance matters (e.g., having a bank account, using a credit card, paying for rent) and their information behavior towards specific financial products (e.g., stocks, investment, retirement plans, and insurance). Results The data set was prepared through multiple imputation and analyzed using regression models. The results show clear correlations between knowledge and understanding in the dimension ‘Banking’ and both experience and information behavior in personal finance matters. Conclusions Our findings illustrate how important it is that young adults obtain experience with and actively inform themselves about financial products, particularly in countries such as Germany where personal finance is not taught extensively and systematically in school.

BackgroundAccess to a bank account is critical for overall participation in social life and an indicator for social integration. Worldwide about 1.7 billion people remain with no access to banking facilities as a form of financial exclusion which represents 31% of the world’s general population. In contrast, in Western countries like Germany, 99% of the general population use bank accounts.MethodsWe conducted an exploratory cross-sectional survey on bank account ownership and bank account access among psychiatric in-patients in a psychiatric hospital in Berlin. Out of 540 participants who were reached for an interview, 486 shared information about bank account ownership and 469 on access.ResultsOut of 486 participants 49 (10.1%) did not own a bank account. Among the remaining 420 participants owning a bank account, 36 (8.3%) did not have direct access to their bank account, but only, e.g., their legal guardian. Regression results found psychosis, intellectual disabilities, a longer treatment duration, as well as being of male gender and a more instable housing status to be significantly associated with a missing bank account or a missing access to one’s bank account.ConclusionsThe lack of bank account ownership and access among this population of psychiatric patients is concerning. The interrelationship between factors of financial exclusion and mental health should be further explored in longitudinal studies. More attention is needed to support people with severe mental illness to be able to access resources associated with financial inclusion.

Most scholars studying electronic money, consider them as an economic category, analyzing the advantages and disadvantages of electronic money as a means of payment, leaving out the attention to the question of the legal nature of the contract when using electronic money. Taking into account the fact that the aforementioned agreement is the basis for the obligation to issue, transfer and repay the electronic money, the actual implementation of civil legal analysis of the contract on the use of electronic money is considered. The question of studying the legal nature of the contract on the use of electronic money was devoted to the works of such scholars as A. Isaev, M. Korostelov, V. Loshchylin and others. Along with this, the mentioned problem acquires a new urgency, in connection with the increase of settlements with the use of electronic money. The purpose of the article is to clarify the legal nature and concept of the contract on the use of electronic money. The study of the legal nature of the contract on the use of electronic money is accompanied by the discovery of a large number of theoretical and practical problems and individual discussion issues that have important applied value. This condition is due to the fact that today the civil legal regulation of the circulation of electronic money is in the making. However, it should be noted that the dynamics of the development of relations associated with the use of electronic money, generates significant changes in legislation aimed at regulating such relations. In connection with this, scientific research on this issue will remain relevant for a long time.

The paper is aimed at classification of bank account agreements. There has recently been a tendency to increase in the number of their types. The Concept of the Development of Civil Legislation of the Russian Federation (2009) stated that the requirements of civil turnover in various financial services mean both expansion of the range of possible bank accounts and development of the regulation of bank account types that are already provided by legislation. Based on the obtained results, it has been suggested that significant changes should be made to Chapter 45 “Bank Account” of the Civil Code of the Russian Federation. Currently, new types of bank accounts can be distinguished. However, there is no classification in the Civil Code of the Russian Federation, which raises problems both of their theoretical and practical nature. It is also difficult to determine the location of individual types in the general system of bank account agreements. The paper considers the classifications of bank account agreements based on different grounds. Analyzing the current legislation on bank account agreements, the conclusion has been made that it is possible to classify them depending on the functions implemented. It has been suggested to differentiate between three groups of contracts: the first group includes the contracts that have common functions for all bank account agreements; the second one covers the contracts that have some specific functions that distinguish certain types of bank account agreements from each other; and the last one comprises the bank account agreements that have strictly specific functions that include contracts for special bank accounts. In accordance with this classification, the systematization of bank account agreements by determining the position of each agreement in the suggested classification has been performed.

Copyright of Journal of Global Economics / Revista de Economie Mondială is the property of Institute for World Economy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The aim of this study was to realize an analysis of e-banking services in Albania. Through this study we wanted to reveal how much do people in the city of Korca, Albania know about these services and also how much do they use these services. To realize this analysis we have interviewed a part of the people in the city, in order to collect the information we needed. Then we processed the information collected to see some of the elements that dominated in the people that were part of the study. The study revealed that people had no too much information about e-banking services, the information that they had was superficial. Another thing that this study also revealed is about the level of usage of these services from the citizens of Korca. What dominated was the limited usage of some e-banking services. This was related to some factors like the level of the incomes, the status of employment, etc. The main conclusion of the study was that e-banking services were still relative new services, but there was a tendency of increase in them. [ABSTRACT FROM AUTHOR]

Despite financial inclusion initiatives of the government through Jan-Dhan Yojana and the RBI, financial penetration is low and disproportionate in India among the poor, women, and the illiterate. This paper analyses the factors that influence formal institutional account-holding and the sources of borrowing in India, using the World Bank financial inclusion survey (Global Findex). The binary logit model of account-holding status and multinomial logit model of the choice of borrowing from formal and informal financial institutions are estimated. The estimated results show that an individual's savings frequency and wage earnings influence the account-holding status in formal financial institutions. Women have lesser access in owning bank accounts as well as borrowing from formal sources. Less educated people and the poor mostly resort to informal borrowing, as they are not exposed to the financial market, and even if they are exposed, they do not have collateral security for formal institutional credit. [ABSTRACT FROM AUTHOR]

Background: Access to a bank account is critical for overall participation in social life and an indicator for social integration. Worldwide about 1.7 billion people remain with no access to banking facilities as a form of financial exclusion which represents 31% of the world's general population. In contrast, in Western countries like Germany, 99% of the general population use bank accounts. Methods: We conducted an exploratory cross-sectional survey on bank account ownership and bank account access among psychiatric in-patients in a psychiatric hospital in Berlin. Out of 540 participants who were reached for an interview, 486 shared information about bank account ownership and 469 on access. Results: Out of 486 participants 49 (10.1%) did not own a bank account. Among the remaining 420 participants owning a bank account, 36 (8.3%) did not have direct access to their bank account, but only, e.g., their legal guardian. Regression results found psychosis, intellectual disabilities, a longer treatment duration, as well as being of male gender and a more instable housing status to be significantly associated with a missing bank account or a missing access to one's bank account. Conclusions: The lack of bank account ownership and access among this population of psychiatric patients is concerning. The interrelationship between factors of financial exclusion and mental health should be further explored in longitudinal studies. More attention is needed to support people with severe mental illness to be able to access resources associated with financial inclusion. [ABSTRACT FROM AUTHOR]

Since the application of mobile technology for financial services can contribute to the economic development of developing countries, it is critical to examine the inhibitors to using mobile money service in countries like India, which have an exceptionally low uptake of this service. Mobile money service enables the customer to carry out financial transactions over a mobile phone without requiring them to own a bank account. By adopting a market separation perspective, this theory-driven, exploratory study proposes and tests a rare event logistic regression model for using mobile money services in India. The analysis of 45,036 responses shows that the ownership of a SIM card (temporal separation), income and ownership of a bank account (financial separations), awareness of mobile money services (information separation), age and gender (social separations), and location of residence (spatial separation) significantly inhibit the use of mobile money services. Implications are discussed at the end. [ABSTRACT FROM AUTHOR]

The article describes the work of payment agents in the process of shaping payment systems to ensure sustainable development of the banking sector in Russia and finance system in general. The current legislation determines the order of transactions and control over their effecting, types of and regulations for payment agents and subagents. The author shows advantages of bank payment agent, transactions effected by bank payment agent according to the contract concluded with cash transfer operator and possibility of using bank payment subagent. The article pointed out the urge of credit organizations towards more active working in regions, setting additional channels for offering bank services, finding potential clients. Objective interest of banks in extending the agent network must promote the development and strengthening the national payment system. The author puts forward concrete steps aimed at shaping a united system of payment agents' interaction, identifies 4 strategic lines of their development depending on functions performed by bank agents.