Traditional Institutions Research Articles

Shadow Banking in the United States: Emerging Factors, Operation Modes and the Current Situation of Supervision - Based on the Comparison with Chinese Shadow Banking System and Market

In 2009, Ben Bernanke, chairman of the Federal Reserve, described shadow banking as a financial intermediary that converts savings into investments in addition to regulated deposit-taking institutions. To put it simply, the essence of shadow banking is a financial innovation that breaks through traditional financial institutions in order to maximize profits in the financial market environment. In this paper, we compare the U.S. and Chinese shadow banking system and their market system. From that, we analyze their similarities and differences from the aspects of emerging factors, classification and scale, and operation mode. Based on the above analysis, we then discuss the current situation of supervision of shadow banking in the United States and find that the U.S. shadow banking is negligent in institutional constraints and has practical difficulties in legal supervision. Finally, we put forward some suggestions on the future development and financial structure optimization of shadow banking.

Enhancing Durrotalk Chatbot Accuracy Utilizing a Hybrid Model Based on Recurrent Neural Network (RNN) Algorithm and Decision Tree

DurroTalk, a chatbot for new student admissions at Pondok Pesantren Durrotu Ahlissunnah Waljamaah, Semarang, integrates a hybrid model with Recurrent Neural Network (RNN) and Decision Tree. RNN, the base model, employs Natural Language Processing (NLP) to understand sentence structure and context, overcoming vanishing gradient through LSTM layers. The Decision Tree normalizes words, addressing slang and synonyms. The hybrid model boosts chatbot accuracy by 9%, reaching 77% from the initial 68%. This research signifies progress in integrating artificial intelligence into traditional education, showcasing a chatbot adept at handling non-standard language. Decision Tree integration enhances overall performance, making the chatbot proficient in understanding user inputs and generating contextually relevant responses. This study exemplifies the potential of AI, particularly chatbot technology, in modernizing educational processes at traditional institutions.

Harnessing FinTech for Sustainable Finance in Developing Countries: An Integrated SWOT–Multi-Level Perspective Analysis of Mongolia

This research paper investigates the potential of FinTech solutions in promoting sustainable finance in Mongolia, an emerging market economy with a burgeoning FinTech landscape. This study explores how Mongolia leverages FinTech innovations to advance sustainable development goals. Utilizing secondary data sourced from Mongolian government agencies, global financial organizations, academic institutions, market research firms, and industry associations, we conducted an integrated SWOT-MLP analysis of Mongolia’s FinTech industry, which includes the FinTech business models, ecosystem, regulatory frameworks, traditional financial institutions, and stakeholders. This study presents a comprehensive analysis of the opportunities and challenges facing Mongolia in integrating FinTech into its sustainable finance agenda, and SWOT-based strategies.

ANEKA DISRUPSI PEMBELAJARAN BAHASA ARAB DI PONDOK PESANTREN

<p style="text-align: justify;"><em>Islamic boarding schools, as traditional Islamic educational institutions in Indonesia, play a central role in preserving and promoting Islamic religious and cultural traditions. One of the important elements of education in Islamic boarding schools is the teaching of Arabic. Arabic is not only a means of understanding the teachings of Islam but also a gateway to the rich intellectual heritage of the Islamic world. This qualitative research uses open questionnaires as a data collection technique. The questionnaires were distributed to Arabic teachers in seven Islamic boarding schools in Situbondo. The results cite the strengths of Islamic boarding schools in the form of their long-standing tradition of teaching Arabic and Islamic culture, the presence of knowledgeable teachers, a focus on memorizing the Quran, and a communal learning environment. However, weaknesses in the traditional curriculum may overlook practical aspects such as the use of digital technology in Arabic language learning in the modern world. To improve Arabic language learning in Islamic boarding schools, it is important to address the practical aspects of the language, maximize opportunities for collaboration and adoption of technology, and address challenges such as cultural and social change and competition from formal educational institutions offering Arabic language instruction.</em></p>

Tradition and Modernity: The Interface of Clan Structures and Electoral Politics in Naga Society

This paper delves into the intricate relationship between clan structures and electoral politics within Naga society, focusing on the interface between tradition and modernity. Challenging the perception of traditional institutions as static entities, the study highlights how clan structures are not timeless but rather modern constructs, subject to reinvention and adaptation. Drawing on the works of Hobsbawm and Ranger (1983), the research explores how clan members navigate power dynamics and political influences, particularly in the context of emerging political elites. By employing a social construction approach, the author investigates how traditional clan systems influence modern electoral contestation and vice versa. Through fieldwork conducted in Phaibung Khullen village, the author, an insider researcher, examines the interplay between traditional practices and contemporary electoral processes. The findings underscore the mutual reconfiguration of clan structures and electoral politics, emphasizing the enduring influence of tradition on modern political mobilization. This study contributes to a nuanced understanding of how traditional institutions shape and are shaped by the evolving landscape of electoral contestation in Naga society, highlighting the complex interface between tradition and modernity in clan-based communities.

Payment card interchange fee regulation and financial institutions: The effects on traditional and fintech financial conglomerates*

This paper investigates the effects of credit card interchange fee regulation on the performance of traditional and fintech financial conglomerates. Using data from 2017 to 2021 of individual financial institutions and conglomerates operating in Brazil and parameters estimated by previous studies, we simulate the impact of that regulation on financial conglomerates. We find that an interchange fee cap increases the return of fintech conglomerates, whereas it decreases the return of conglomerates led by traditional financial institutions. Furthermore, we find that such regulation reduces the return of all conglomerates, traditional and fintech ones, that provide greater financial sophistication and credit growth.

Juridical Analysis of the Position of the Surakarta Kasunanan Palace as a Cultural Heritage Area Linked to the Basic Agrarian Law (UUPA)

With the provisions of the Fourth Dictum of the UUPA, regarding the position of the Surakarta Kasunanan Palace as a cultural heritage area, there are still differences of opinion regarding its ownership status. This research aims to examine the position of the Surakarta Kasunanan Palace after the enactment of the UUPA, as well as to analyze the ownership status of the Surakarta Kasunanan Palace as a cultural heritage area. The research method is normative juridical. The type of data used is secondary data. Data analysis techniques using deductive reasoning presented descriptively. The results of this research are: first, the position of the Surakarta Kasunanan Palace after Indonesian Independence, based on: Law Number 10 of 1950 was designated as part of Central Java Province; and based on Law Number 18 of 1965, de jure Swaraja Surakarta was abolished. Then, after the UUPA came into force, the position of the Surakarta Kasunanan Palace should have shifted to the State. However, in reality, currently the Surakarta Palace Sultanate still has and exercises authority over the lands it owns and owns based on Presidential Decree Number 23 of 1988. Second, the ownership status of the Surakarta Kasunanan Palace as a cultural heritage area is stipulated in the Regulation of the Minister of Culture and Tourism Number PM.03/PW.007/MKP/2010 belongs to the Surakarta Kasunanan Palace as an indigenous community in accordance with Article 13 of the Cultural Heritage Law. The Surakarta Kasunanan Palace is a traditional community, because the King is the traditional leader who still has the same territorial area and lineage and has authority within and outside his traditional area. If the Kasunanan Surakarta Palace is interpreted as a traditional institution, and ownership of the land of the Surakarta Kasunanan Palace becomes a customary right for the Surakarta Kasunanan Palace, then as a consequence the Government in taking over the land of the former Surakarta self-government must also pay attention to the principle of recognizing these customary rights.

Public libraries to promote public health and wellbeing: a cross-sectional study of community-dwelling adults

BackgroundLibraries in the UK have evolved from traditional book-lending institutions into dynamic community hubs, This study aims to explore the potential of libraries to act as community hubs to promote mental and physical health and wellbeing of community-dwelling adults, drawing on insights from both library users and library staff in England.DesignA mixed-method, cross-sectional study using online survey and interviews with community-dwelling adults and library staff.MethodsWe collected data using a 14-item electronic survey and interviews with library users and staff to gauge perceptions. Descriptive statistics and thematic analysis were used to identify key trends and emergent themes.ResultsWe included 605 respondents from the survey and interviewed 12 library users and staff. Libraries remain popular and are considered a ‘safe place by members of the community, regardless of their frequency of service usage irrespective of whether they are frequent users of services. However, a lack of awareness among library users about community-facing services could act as a hurdle to improving community health and wellbeing. Targeted engagement with residents is needed to increase awareness of libraries’ services, including community interventions to help tackle loneliness and inequalities in digital and health literacy. Library staff often did not feel involved in important decision-making. Various barriers, drivers and practical recommendations were identified to leverage libraries as hubs to promote community health and wellbeing.ConclusionLibraries already offer a variety of resources that directly or indirectly support the health and wellbeing of community-dwelling adults and young people. However, public awareness of these services is limited. As we navigate post-pandemic recovery, libraries can serve as platforms for community engagement, fostering resilience, mental health support and reducing social isolation. Recognising libraries’ untapped potential can lead to healthier communities and improved wellbeing.

Decolonizing the Teaching and Learning of Indigenous Nguni Music Instruments in Higher Institutions of Learning in South Africa

This is an ethnographic study which was carried out to determine appropriate and effective models, approaches, strategies and techniques, for the transmission of Indigenous African Music (IAM), as practised in the communities of Tsembeyi village in the Eastern Cape Province and Impunga Village in KwaZulu-Natal Province of South Africa to the institutions of higher learning. The research explored pedagogical intervention measures for transplanting the teaching and learning of indigenous Nguni music instruments at Walter Sisulu University. This enquiry is underpinned by the praxial and Ubuntu theories, which ensure that participants are practically involved in doing, making, and experiencing learning as a collective. The study adopted an interpretive paradigm entrenched in a qualitative approach. Semi-structured interviews and participant observation were administered to collect data from 13 preservice music teachers including the main researcher and 3 community music experts drawn from the amaXhosa and AmaZulu, who are part of the Nguni nation in the Eastern Cape, and KwaZulu-Natal provinces. The thematic analysis revealed that the importance of engagement of the community in teaching and learning Nguni music instruments, underlying philosophical knowledge, and the understanding and approach to the construction and playing of IAM instruments. The authors argue for the possibility of breaking down the barriers of marginalization, and discrimination and celebrating human capabilities through the use of local resources and engagement of the community, thus, striking a meaningful and appropriate balance between the approaches that are used in traditional communities and institutions of higher learning. Keywords: Decolonization, Transmission, Curriculum, Indigenous African Music, and Nguni.

IMPACT OF FINTECH ON TRADITIONAL BANKING

The Flawed Impact of Financial Technology (FinTech) on Traditional Banking Institutions This absurdly intriguing study explores the mind-boggling transformative impact of Financial Technology (FinTech) on traditional banking institutions or somethings. Diving headfirst into a comprehensive and questionably review of literature and analysis of empirical data, it examines how FinTech innovations are supposedly reshaping the peculiar landscape of banking services, customer experiences, floundering industry competition. The rather bewildering findings, should you choose to believe them, reveal so-called significant disruptions in traditional banking models, including enhanced efficiency, improved accessibility, and some overhyped heightened customer expectations. However, challenges from another dimension such as regulatory compliance and phantom cybersecurity threats also supposedly emerge like ghosts in broad daylight. Understanding these nonsensical dynamics might be crucial for traditional banks to adapt, morph, or awkwardly stumble in the rapidly evolving and somewhat surreal FinTech ecosystem, ensuring sustainable growth in a bumpy rollercoaster ride and continued relevance.

Harmonization of State, Custom, and Islamic Law in Aceh: Perspective of Legal Pluralism

Indonesia recognizes several legal systems i.e., state law, customary law, Islamic law, and international law. Islamic sharia in Aceh is part of legal pluralism in Indonesia. This study aims to discuss the application of Islamic sharia from the perspective of legal pluralism. This normative legal study employed a legal pluralism theory analysis. Legal pluralism is a theory that views law not only as positive or written law made by the state but also as a recognition of the legal reality that exists in a pluralistic society. The study collected data by means of a literature review. Findings revealed that Islamic sharia in Aceh as part of the recognition of the concept of legal pluralism has been implemented well in the context of state law, custom, and Islamic law. The state has provided juridical legitimacy through laws in the context of legal substance and judicial institutions or sharia courts. Likewise, revitalization has also occurred in traditional institutions in terms of customary law and customary justice. The argument emphasized in this study is that Islamic sharia in the context of legal pluralism has succeeded in manifesting legal harmonization between the state, custom, and Islamic law

Navigating the Digital Frontier: Assessing the Impact of Digital Transformation on Traditional Banking Institutions

The digital revolution has reshaped industries, economies, and societies worldwide, ushering in an era of unprecedented transformation. At the forefront of this paradigm shift is the banking industry, a cornerstone of the global economy that has been profoundly impacted by the proliferation of digital technologies. Traditional banking institutions, with their legacy systems and brick-and-mortar branches, are grappling with the imperative to embrace digital transformation to remain competitive and relevant in today's digital age. This introduction sets the stage for examining the impact of digitalization on traditional banks, exploring the drivers, challenges, and opportunities inherent in navigating the digital frontier.

FinTech, systemic risk and bank market power – Australian perspective

This study investigates idiosyncratic/firm-specific risk and systemic risk of FinTech firms and traditional financial institutions (FIs) in Australia. It also examines the impact of FinTech growth on bank market power. I find that stock return and idiosyncratic risk are higher in FinTech firms than in traditional FIs. Regarding systemic risk, FinTech firms are more exposed/vulnerable to systemic shocks than traditional FIs. However, they do not contribute to higher systemic risk as compared to traditional FIs. There is no substantial evidence that bank market power (captured by Lerner index) reduces due to the growth of FinTech firms. Yet, there is partial evidence that some accounting performances of banks may decline due to the growth of FinTech firms. Since FinTech firms are highly exposed/vulnerable to systemic shock, regulators should continue monitoring FinTech development closely and ensure that investors are aware of the risk and retail consumers of these firms are well protected.

Invest in Idea: Crowd Funding with Predicting Startup Success

Abstract: Crowd funding enables individuals or businesses to raise funds for their projects, ventures, or caused by tapping into a large pool of contributors. It democratizes access to capital, allowing creators to bypass traditional financial institutions and engage directly with their community or target audience. This method fosters innovation, empowers grassroots movements, and facilitates the realization of diverse ideas that might otherwise struggle to secure funding through conventional channels. Utilizing a rich dataset encompassing funding details, milestones, relationships, and geographical data of various startups, we embark on an in- depth analysis involving data preprocessing, feature engineering, and exploratory data analysis to uncover key success determinants. Employing advanced classifiers like LGBM, XG Boost and gradient Boosting, our model undergoes rigorous training and evaluation, with LGBM emerging as the top performer, achieving an accuracy of 90.48%. The analysis underscores the critical role of funding, and investor presence in forecasting startup success. This research not only equips stakeholders with a powerful predictive tool but also highlights significant features influencing startup outcomes, offering a novel perspective on strategic investment planning. Additionally, we developed an interactive frontend platform to complement our predictive model. Utilizing AngularJS, the platform serves as a gateway for startups to register their ventures, providing realtime access to predictive insights. Through intuitive forms, startups enter essential information such as geographical location, funding received, and sector of operation. Upon submission, the data is processed by our backend, which evaluates it against our machine learning model to predict success rates. This integration empowers startups with immediate insights and facilitates data-driven decision-making among investors, thereby fostering a more dynamic and informed startup ecosystem.

A Study on Financial Performance and Growth of Non-Banking Financial Companies

This study provides a comprehensive analysis of the financial performance and growth dynamics of Non-Banking Financial Companies (NBFCs) within the contemporary financial landscape. Drawing on a review of existing literature, regulatory frameworks, and extensive financial data, the research evaluates key performance indicators, growth trajectories, and risk profiles of NBFCs over a specified time period. Through a rigorous examination of profitability, liquidity, leverage, and efficiency metrics, the study uncovers insights into the relative strengths and weaknesses of NBFCs compared to traditional banking institutions. Additionally, the analysis delves into the drivers of growth, regulatory influences, and systemic risks shaping the NBFC sector. The findings contribute to a deeper understanding of the role of NBFCs in the financial ecosystem and offer valuable insights for policymakers, regulators, investors, and industry stakeholders to foster sustainable growth and mitigate potential risks.

Empowering the Traditional Indigenous Politics through Education: An Agent of Political Socialization

Empowering the Traditional Indigenous Politics through Education: An Agent of Political Socialization

Baḥtsul Masāil at a Traditional Islamic Educational Institution in Aceh: Teungku Dayah's Contribution to the Development of Islamic Law

The global world has implications for the emergence of various contemporary problems and demands legal certainty for every Islamic legal issue. This research aims to examine Baḥtsul Masāil in Dayah as a traditional Islamic educational institution in Aceh, especially its contribution in responding to developments in contemporary Islamic law. This research uses a qualitative-normative method with a sociological approach to Islamic law. Data was obtained through interviews, observation and document study. The informants interviewed were Tengku Dayah in Aceh, observing the activities of Baḥtsul Masāil and the documents studied were journal articles, textbooks and books. The research results show that teungku dayah is able to answer contemporary Islamic law problems through Baḥtsul Masāil. This activity took the form of a focus group discussion involving professional staff from Islamic boarding schools and discussed various current issues from a legal perspective. In Baḥtsul Masāil uses the method of ilhaq and contextualization of the turats text. Ilhaq is achieved by equating law with problems that have not been answered by Islamic texts with problems that have been answered by Islamic texts, while contextualization of Islamic texts is achieved by interpreting Islamic texts in a contemporary context. The results of Baḥtsul Masāil are then disseminated to the community through community learning processes, recitations, or religious lectures. Thus, in terms of the sociology of Islamic law, Teungku Dayah and Dayah educational institutions as actors are able to contribute to contemporary Islamic problems and the problem of the vacuum of Islamic law in society can be overcome.

Harmony and Sustainability: Traditional Ecological Knowledge Systems of the Kaluppini Indigenous People

The existence of knowledge of local indigenous local knowledge in natural resource management has experienced a shift. This research aims to reveal the forms of wise tought of the natural environment by the Kaluppini indigenous people, and to reveal how the Kaluppini community maintains the ecological knowledge systems. This research used ethnographic methods. It is a qualitative research procedure for describing, analyzing, and interpreting elements of a cultural group such as behavior patterns, beliefs, and language that develop over time. Data analysis techniques are processed. The collected data was analyzed by using Berkes' theory (1980). The research results show that the Kaluppini indigenous people maintain their traditional ecological knowledge from time time. First, traditional institutions which include the role of traditional stakeholders along with the legal system and rules for implementing traditional rituals, play a core role in maintaining harmony between society and the environment. Second, ethical land management in the form of traditional agricultural methods, pest and disease control, crop rotation systems, selection of plant varieties, and efficient irrigation systems support agricultural sustainability. Third, the existence of myths related to nature produces a respectful attitude towards the surrounding natural environment. Finally, the implementation of zoning reflects a wise policy to conserve natural resources while meeting community needs. It is important to recognize that most regions in Indonesia are currently facing serious challenges in the form of the climate crisis, including the phenomenon of long droughts that threaten agricultural activities and daily life. However, the Kaluppini community stands out as a unique example amidst this changing climate.

The Development of the Berliner as a Political Person under the Influence of the Urban Cultural Environment

Introduction. The article explores the reasons for the emergence of ethnic diversity in the city of Berlin, encompassing political, historical, geographical, anthropological, and sociological aspects of the urban environment. It also outlines the current issues in German society that shape the political culture of its people. The relevance of the topic is driven by the political radicalization of migrants in Germany, particularly in Berlin, resulting from cultural globalization that impacts traditional political institutions and behavioral models of the city's residents. The crisis of the liberal-democratic model and the increase in the number of Eurosceptics also play a significant role in the transformation of the political culture of contemporary Berliners. Solving the problem of political radicalization of migrants is equally important for the Russian Federation, especially in St. Petersburg, combining characteristics of the European urban environment and the polyethnic Russian state, whose residents consider themselves Russians despite national and cultural differences. Methodology and sources. The research is grounded in Ernest Burgess's model of concentric zones. The study relies on research methods such as synthesis, comparison, analysis, and sociological approaches. Data from the Federal Statistical Office of Germany, the results of the 2016 elections to the Berlin House of Deputies, the 2021 elections, and the subsequent 2023 elections, historical data, and findings from other researchers on the topic served as sources for the study. Results and discussion. The study identifies features of urban culture shaping the polyethnic Berlin society, including the ethnic diversity of residents, unique self-identification of Berliners, the presence of distinct urban districts, squatter movements, and the influence of architectural and spatial characteristics on the formation of human social behavior. Some city problems were also highlighted, such as the crisis of formation of a distorted perception of right and left currents among Berliners, the failure of multiculturalism policies, the migration crisis, and housing shortages. Conclusion. The development of a Berliner as a political being is influenced by the characteristics of the urban environment and certain issues facing the city, where the residential district, properties of the city's political culture, and ethnic background impact the political views of its inhabitants

Regulation of the institute of concepts in the active criminal procedure code of Ukraine

The article examines the issues related to the procedural institute of participation of concepts in criminal proceedings, its appearance, development and legislative regulation at different historical stages. It is noted that since its origin, this institution of procedural law has been observed as a guarantee of ensuring the rights and interests of participants of investigative actions against harassment by the investigating authorities. A number of procedural rules which contain information on the participation of concepts in pre-trial proceedings allow us to conclude that the institute of witnesses is present in the current Code of Criminal Procedure.
 The authors analyse the opinions of scientists on the viability of keeping the institute of concepts in the current CPC, due to the modern technical opportunities for objective and complete fixation of the course and results of the investigative action. The authors conclude that the legislator has a reasonable attitude to the use of the traditional institute of concepts and the use of modern technical devices for recording investigative actions. The authors note that keeping the institute of concepts in the current CPC of Ukraine requires further regulation. The classification of a concept as a participant in criminal proceedings requires appropriate modifications to the CPC and an independent article among other participants in criminal proceedings. It is proposed to define this participant in the process in the relevant provision, indicating his procedural status (list of rights and obligations), the range of persons who cannot be involved as witnesses, and the right of participants to the investigative action to challenge the concept.
 Based on the analysis of scientists’ opinions, doubts are expressed about the ability of concepts to create conditions for an objective and, moreover, proper proceeding of the investigative action, to ensure the legality of its performance. In most cases, witnesses are random persons who are not interested in the case. The author analyses the proposals of scientists regarding the competitive recruitment by local self- government authorities of individuals who are trustworthy and passing their lists to law enforcement authorities for the purpose of engaging concepts. The authors justify the proposals for further regulation of the institute of concepts.