Traditional Institutions Research Articles

Harmonizing open banking in the European Union: an analysis of PSD2 compliance and interrelation with cybersecurity frameworks and standards

AbstractThis paper focuses on the security protocols enacted in banking transactions across the European Economic Area (EEA), as stipulated by the Second or Revised Payment Service Directive (commonly referred to as ‘PSD2’ or simply ‘the Directive’). The study aims to comprehensively analyse the implementation and efficacy of these security measures within the specified jurisdiction. The Directive incorporates fundamental rights and obligations that all stakeholders are compelled to adhere to and delineates specific security measures and standards that both traditional banking institutions and third-party providers (TPP) are mandated to implement. In particular, one of the cardinal mandates for banking and financial institutions under PSD2 is the obligation to facilitate third-party access to customer data via open application programming interfaces (API). While this open banking paradigm and the consequent proliferation of data sharing unquestionably bring about various advantages, such as enhanced consumer choice and market competition, they concurrently expose the financial ecosystem to a slew of potential security vulnerabilities and privacy risks. Upon conducting a comprehensive review of the security requirements and measures stipulated under PSD2 and a comparative analysis with essential cybersecurity frameworks and standards (NIS2, Cybersecurity Act, GDPR, ISO 27001:22 and PCI DSS), we have ascertained a discernible lack of harmonisation and clarity concerning the technical security specifications for its effective implementation. This lacuna substantiates the challenges banks face in fully grasping the extensive spectrum of compliance obligations mandated by PSD2. The aim of this research is to offer a valuable contribution to both the comprehension and the pragmatic deployment of security standards in the context of banking transactions, as regulated by the PSD2. The paper serves as a valuable resource for traditional banking institutions and relevant stakeholders by guiding them through the complexities of PSD2 implementation while also evaluating the effects of the security measures on transactional safeguards, data security, and the provision of payment services.

CRIMINAL LIABILITY FOR BIGAMY IN FOREIGN COUNTRIES

The purpose of the research. The article attempts to analyze foreign experience in terms of offenses against family values, for which criminal prosecution is required. As practice shows, at the present stage of development of many states, the marriage and family institution are the most vulnerable element of society, requiring comprehensive political, socio-economic protection. In particular, we will be talking about such a traditional institution, since ancient times, as bigamy (polygamy), which has recently become very widespread, especially in connection with increased migration processes in order to earn money. Results. Having analyzed the problem in the course of the study, the author comes to the conclusion that in the modern world the problem of bigamy (polygamy) is relevant, as it finds its manifestation in countries and cultures with different levels of development. Therefore, the current state of affairs allows each State individually, relying on its traditional values, to approach the issue of legitimacy or its absence in matters of bigamy, taking into account the socio-demographic situation. We also come to the conclusion that foreign legislation, with the help of criminal law norms, protects such an important institution as the institute of family values in a more thorough and pragmatic way. In this connection, it is possible to borrow positive experience in the domestic criminal law legislation of the norms of foreign law in terms of regulating such an institution as bigamy (polygamy).

Cek Bocek Selesek Reen Sury Traditional Legal Community In Sumbawa (1512 – 2023)

This research aims to determine the history of the Cek Bocek indigenous community in Sumbawa and the fundamental differences between the general community in Sumbawa. This research uses the historical method. In this case, all documents considered important in the Cek Bocek traditional community will be used as one discussion narrated by taking the essence or main points. The existence of the Cek Bocek traditional community in Sumbawa began in 1492, and in 1512, the form of government of the Selesek chiefdom led by Dewa Datu Awan Maskuing began. The fundamental difference between the Cek Bocek Selesek Reen Sury indigenous community and other communities in Sumbawa lies in the language used, called the Berco language. The Cek Bocek indigenous communities have traditional institutions and mechanisms for meeting meetings, which are referred to as Rapulun Adat and are led by one traditional leader as tribal head, and have a jointly protected customary area which is outlined in a participatory map approved by the village government, and has different traditional rituals such as NABAR (Tulak Bala), Pungka Inu (customary forest welfare), zakat alms every post-harvest season, Enang Uran (asking for rain) in Tiu Mareng. Also, customary law rules and property are left behind to maintain ancestral traditions

Historical information about the rural (land) community as an element of the intangible cultural heritage of Ukraine

The historical development of the traditional peasant institute of self-government of the rural (land) community is being explored, it was proved that it can be considered a manifestation of intangible cultural heritage of Ukraine.

The Effect of Religious Spiritual Education and Care on the Quality of Life among the Elderly: A Review

This segment explores spirituality in elderly care, emphasizing its significance and challenges. It highlights Cicely Saunders' pioneering holistic approach to integrating spirituality into patient care, especially in palliative settings. The lack of universally defined research concepts and cultural diversities impeding the understanding of spiritual care practices in elderly care environments are emphasized. It underscores how contemporary secular societies redefine spirituality from traditional religious institutions, yet its importance in addressing existential questions remains intact. We outline the study's methodology for evaluating spirituality's impact on the quality of life of the elderly in Iran. It details the systematic review and meta-analysis used to synthesize findings from relevant studies, assessing the influence of religious-spiritual education, notably theotherapy, on quality of life. Factors affecting intervention efficacy, such as cultural norms, are discussed. The study showed positive outcomes post-intervention, indicating improvements in various life quality dimensions. The potential of theotherapy is noted, acknowledging cultural influences on effectiveness. Insights into spirituality's role in emotional stability, leadership, and organizational practices within Malaysian contexts, particularly amidst Industry 4.0, are presented. The need for comprehensive caregiver education and incorporating culturally aligned religious-spiritual education for the elderly's well-being is underscored. Additionally, the significance of emotional stability and effective organizational practices in Malaysia's evolving socio-economic context for quality care among the elderly is emphasized. This conclusion stresses the holistic approach necessary for optimized elderly care and organizational success.

African traditional institutions and support for democracy

ABSTRACT Existing research emphasizes popular support for democracy as a key ingredient of democratic regime consolidation. Both formal and informal institutions are commonly seen as the key actors that generate the requisite attitudinal shift, socializing ordinary citizens to adopt democratic values. It is thus puzzling that existing studies of attitudes towards democracy in the developing world have neglected to consider the impact of widely prevalent traditional institutions. Not only do these institutions vary considerably in their own democraticness, they also play a prominent role in the daily lives of many citizens. Filling this lacuna in extant knowledge, this study links a continent-wide dataset of the institutional features of contemporary traditional institutions in Africa with over fifty thousand survey respondents. The results indicate that the degree of democraticness exhibited by traditional institutions is a robust if weak predictor of ordinary Africans’ support for democracy.

Inter-Religious Dialogue in Nigeria: Problems and Necessities

Inter-religious dialogue has gained prominence in Nigeria against the milieu of cultural and religious plurality as well as several other issues of violence, vandalism, killings and majorly the disruption of peaceful co-existence of the numerous ethnic groups in the country. The complication of diverse faith, beliefs, traditions, culture, language and mainly the threat of religious fundamentalism and extremism, thus brought about many ugly flashpoints and situations in many areas across Nigeria. This study seeks to unearth the significance and need for commitment of the various stakeholders towards addressing the challenges occasioned by this plurality of religious faiths in terms of the efforts required from religious organizations, traditional institutions, government and non-governmental organizations including Christian organizations and Muslim groups. Since religion plays a great role in the politics, social and security of lives of Nigerians as a nation, there can therefore be no sustainable peace among people of this great nation without constant dialogue among them, hence the necessity for this study. This work employed the use of primary and secondary sources in gathering of information. The paper identified a lot of challenges and issues bothering on intolerance, existing conflict of interest, injustice, inequity, superiority of one religious group over the other, while advocating for the removal of entrenched misconceptions and hatred. The paper encouraged for more understanding, mutuality and peaceful co-existence.

Axes of transformation towards Blockchain technology in Islamic financial institutions

This research paper aims to study the axes of the transition towards blockchain technology, how to apply it in Islamic financial institutions, obstacles of actual implementations and the proposed solutions. Islamic financial institutions must keep pace with technological developments, especially with regard to strategic changes, development of work mechanism, performance efficiency, accuracy of operations performance, service speed with cost and security of operations, and the impact of this on the competitiveness of Islamic financial institutions with international and traditional financial institutions, and the impact of all of this on the success and effectiveness of financial institutions. The role of blockchain technology in developing the performance of financial institutions and the huge change in the way of work that has emerged is the importance and severity of the need for technology, especially during the pandemic, for an effective transformation towards blockchain technology considering cases studies is very important to manage the change through the following three main axes: Technology: how to choose the right technology and the right technology partner. Procedures: The development of procedures has a major and effective role in improving and controlling all operations in general, achieving the best productivity, reducing waste of time and money, and controlling better workflow and costs and removing obstacles. Employees: One of the most important factors affecting the application of modern technologies and the success of development and change is the mechanism of work in financial institutions. Keywords: Islamic, Financial, Blockchain, institutions, Transformation.

Pendidikan Pesantren di Zaman Teknologi antara Tradisi dan Modernitas

Islamic boarding schools, as traditional Islamic educational institutions, have become an integral part of the history of education in Indonesia. However, with the emergence of modern technology, Islamic boarding schools are faced with new challenges that require adaptation to current developments. This article explores the dynamics of Islamic boarding school education in facing the technological era, exploring how these institutions try to maintain traditional values while still taking advantage of technological advances. This research was conducted using a qualitative approach with in-depth interviews and participant observation at several leading Islamic boarding schools. The findings show that Islamic boarding schools face a dilemma between preserving traditions and responding to the demands of the times. Several Islamic boarding schools have succeeded in integrating technology into their curriculum without sacrificing fundamental Islamic values. However, challenges in managing the impacts of modernity are also visible, including the potential for changes in social and spiritual values among santri. This article provides insight into Islamic boarding schools' efforts to bridge the gap between tradition and modernity. The practical and strategic implications of this research can provide guidance for Islamic boarding schools and other stakeholders in developing education that is relevant to the times without losing the essence of Islamic boarding school education which has become a characteristic of educational culture in Indonesia.

Dinamika Radikalisme di Pesantren: Tinjauan terhadap Isu dan Tantangan

Islamic boarding schools, known as pesantren, play a crucial role as traditional Islamic educational institutions in Indonesia and have been a focal point in discussions surrounding radicalism. This research aims to uncover the dynamics of radicalism that may occur within the pesantren environment and analyze the contributing factors to the spread of radical ideologies among the students. The research methodology employs a qualitative approach with data collection techniques including interviews, observations, and content analysis of relevant literature. The findings indicate that while pesantren play a significant role in shaping Islamic character and identity, they are also susceptible to the influence of radical ideologies. Factors such as economic inequality, social dissatisfaction, and a lack of inclusive education contribute to the emergence of radical attitudes among the students. Addressing the challenge of radicalism in pesantren involves enhancing understanding of moderate Islamic teachings, strengthening critical education, and fostering collaboration among the government, society, and pesantren. Prevention efforts should also focus on improving the well-being of pesantren, enhancing teacher capacity, and implementing inclusive educational approaches to minimize the potential for radicalization within pesantren communities. This research contributes to a better understanding of radicalism issues in pesantren and provides a foundation for the development of holistic and sustainable policies and prevention programs.

Muzakki Preference Analysis to Pay Zakat Through Traditional Zakat Institutions in the 5.0 Era

Based on BAZNAS data, the collection of zakat funds in 2019 reached Rp. 10,227,943,806,555. This amount is still not comparable to Indonesia’s zakat potential in 2019 which reached Rp. 233.8 trillion. The wide disparity between collection and the potential for zakat funds is a “homework” for the BAZNAS function. In addition, it also demands the need to improve the performance of BAZNAS in carrying out its institutional functional responsibilities. The method used in this research is qualitative. The research used in this includes field research. The study suggests that traditional zakat institutions could be a viable option for the community to distribute zakat. However, these institutions need to obtain a decision letter from the authorities as legal proof for collecting and distributing zakat to muzakki. So, if the community chooses to distribute their zakat to mosques, it is recommended that the mosque has been registered as UPZ as an extension of BAZNAS in the community so that in paying zakat the community does not violate existing regulations. Regulating the people is one of the maslahah dharuri that must be fulfilled. The government is realized to fulfill the world’s maslahah for its people, so the afterlife mashlahah will not be realized if the world’s maslahah is not fulfilled, with the promulgation of Law No. 23 of 2011 concerning zakat management, which in the law is regulated by BAZNAS as a traditional zakat management institution. So, the obligation of every Muslim to pay zakat should be channelled through BAZNAS as the national zakat institution.
 Keywords: zakat, BAZNAS, regulations

Participation of the Acehnese Indigenous People in the Formation of Legislation

This journal discusses the participation of the Aceh traditional society in the formation of laws and regulations in Nanggroe Aceh Darussalam. Aceh is a regional government that has a special autonomy related to one of the distinctive characteristics of using Islamic Sharia in forming its policies. Article 96, paragraph 1, of Law Number 13 of 2022 is the legal basis for the public to participate in the formation of statutory regulations. Public participation in the formulation of legislative regulations is the implementation of the objectives of Indonesia for the well-being of the entire Indonesian people. Seeing this, problems arise regarding how to apply Acehnese customary law in regional regulations and the participation of the Acehnese traditional community in the formation of regional regulations. The research method used in this writing is normative juridical, by examining library materials or secondary data. This research explains that the application of customary law in Aceh in regional regulations is called qanun, which is based on Islamic sharia. Then, Ulama and traditional institutions have an important role and certain authority in the formation of laws and regulations.

Strengthening the Disciplinary Character Education of Santri through Discipline Development in Islamic Boarding Schools

Strengthening disciplinary character education through disciplinary development is an inseparable part of Islamic boarding schools. As traditional Islamic educational institutions, Islamic boarding schools have broader goals than simply transmitting religious knowledge. One of the main goals of Islamic boarding schools is to form an Islamic character in students. Discipline is a means of creating attitudes and behaviors that are contrary to the teachings of the Islamic religion, including obedience, patience, and responsibility. This research aims to find and explain discipline development activities in strengthening character education in Islamic boarding schools. The research method used was descriptive qualitative with a field focus at the Al-Istiqamah Ngatabaru Modern Islamic Boarding School, Central Sulawesi. Data collection methods are carried out through interviews, observation, and documentation. The data analysis method uses data reduction techniques, presentation, verification, and conclusions. The research found that strengthening disciplinary character education and developing disciplinary character were two important activities at the Al-Istiqamah Ngatabaru Modern Islamic Boarding School, South Sulawesi. Through these two activities, the disciplined character of students can be realized to support various religious activities in Islamic boarding schools. From this disciplined character in participating in religious activities, students become individuals who master a lot of religious knowledge and always behave well in everyday life.

Commercial bank digital transformation, information costs, and corporate financial constraints

ABSTRACT The rapid development of digital finance has transformed traditional financial institutions. We investigate the effect and economic consequences of bank digital transformation on corporate financial constraints using data from China. The results show that bank digital transformation alleviates corporate financial constraints by decreasing information search, processing, and verification costs. Furthermore, the effect of bank digital transformation on corporate financial constraints is more pronounced for firms with higher contract intensity, more intangible assets, and poorer external information environment. We also find that bank digital transformation alleviates corporate financial constraints by increasing debt financing. In addition, we show that digital transformation promotes lending by big banks, resulting in the crowding-out effect. Finally, we find that bank digital transformation promotes the flow of credit resources to non-zombie firms, which effectively improves credit allocation efficiency. This paper extends research on digital finance and new structural finance from the perspective of bank digital transformation.

Income smoothing in Brazilian credit unions: the effects of default

Purpose: This research aims to analyze whether credit unions manage their accounting results in order to smooth them through the provision for doubtful accounts (income smoothing), from a default perspective.
 Methodology: The sample reaches 938 unique cooperatives considering the period from December 2010 to December 2018, with data from the Central Bank of Brazil, tested using the multiple regression statistical technique, in quarterly panels.
 Results: The variation in the stock of credit operations and the adjusted net income were not statistically significant in the model, however it was not possible to accept the hypothesis that credit unions use the allowance for loan losses (PCLD) as a mechanism for managing results. The interest rate implicit in the result of income from credit operations was significant, and therefore related to the PCLD variation, while the condition of free admission did not show statistical significance. The variation in default was significant in the model, with a negative coefficient, implying consistency with the earnings management hypothesis, since in a scenario of higher default (risk) the relationship is negative and, therefore, PCLD levels are lower, avoiding potential negative results.
 Contributions of the Study: The results indicate the absence of earnings management by PCLD in the sample and period, contributing to the discussion of the relationships between earnings management variables. This enables credit unions to reflect on their internal corporate governance structure. In addition, the evidence contributes to the progress of the literature on earnings manipulation in credit unions, for which there are few studies available and play an important role in the Brazilian market, ensuring funding flows to economic sectors not served by traditional banking institutions.

Traditional Institutions and the Management of Communal Conflicts in Gwer-East Local Government Area of Benue State, Nigeria

This study examined traditional rulership institution and the management of communal conflicts in Gwer-East local Government Area, Benue State of Nigeria. The study aimed at finding out why there is a persistence of communal conflicts in the study area even with the efforts by traditional rulers to help manage them. The study pursued objectives that range from; ascertaining the relevance of the traditional rulers in communal conflict management, identifying the causes of communal conflicts, examining the effectiveness of traditional rulers in the management of communal conflicts, identifying the challenges faced by traditional rulers in the management of communal conflicts and advancing ways of ensuring the effectiveness of traditional rulers in the management of communal conflicts in the study area. The descriptive research design was adopted for the study. Questionnaires were used for data collection and the analyses done using simple percentage presented in tabular form. Structural functionalism was adopted for the study. The findings of the study revealed that land dispute is the major cause of communal conflicts in the local government area. Equally too, it was found out that traditional rulers have not been effective in the management of communal conflicts owing largely to the lack of cooperation from warring communities. This showed, as revealed from this finding, the lack of respect for the traditional rulership institution in the local government area. The study also revealed that sensitization and awareness campaigns for attitudinal change by community members are the major ways of enhancing the effectiveness of traditional rulers in the management of communal conflicts in the area. The study concludes that traditional rulers are relevant in communal conflicts management as they are considered traditional administrative structure for community mobilization. The study made recommendations in the light that; traditional rulers should be given additional powers other than mere advisory and assistance roles, the government should revisit community boundaries and make them clearer to curtail issues of encroachment into peoples’ lands in the area and the beef-up of check mechanisms on traditional rulers to help unfold irregularities of biased settlements, corruption and primordialism.

A biy’s court and a council of elders as a historical prerequisite for mediation in Kazakhstan

In Kazakh history, there was a tradition of solving various conflicts in society with the help of the biys and a council of elders. These types of government institutions were the most accessible to the people. Their activities were based on the ideology of justice, humanity, and its ultimate goal was to reconcile the disputing parties and lead them to peace. It was every biy’s and elder’s sacred duty to show full justice to the disputing parties during the settlement of the case. "The ideal of conflict is peace" was found to be one of the main principles underlying the court of biys in nomadic Kazakh society. This, in turn, is one of the main tasks of mediation in modern Kazakhstan. The article attempts to identify the historical continuity of modern mediation and two traditional institutions (the court of biys and the council of elders) with peacemaking and reconciliation activities. A review of the writings of various scholars and historical archive materials was made to determine the court of biys and the activities of biys aimed at peacemaking and reconciliation. The specifics of the activities of the сcouncil of еlders, which is one of the oldest institutions in the traditional Kazakh society, were also identified. The principal avenues for the revitalisation and modernisation of traditional institutions in the context of the Republic of Kazakhstan's current developmental trajectory have been identified.

FinTech P2P lending and bank loans in time of COVID-19

This study investigates the dual impact of peer-to-peer (P2P) FinTech lending and the COVID-19 pandemic on bank lending in Indonesia spanning from 2016 to 2022. Rooted in Christensen’s theory of disruptive innovation, the research underscores how FinTech startups, by leveraging innovative technology, create intense competition for traditional banks (Christensen, 1997). Analyzing data from 121 banks, the findings reveal that the proliferation of P2P lending negatively influences bank loan growth, indicating a potential diversion of borrowers from traditional institutions. Surprisingly, the COVID-19 pandemic exhibits no significant impact on overall bank lending, highlighting the sector’s stability owing to government and financial institution interventions. Notably, when scrutinizing the joint impact of P2P lending and the pandemic, a positive effect on bank lending emerges, particularly benefiting smaller banks. This suggests that P2P lending activities complement traditional bank lending, especially during challenging periods like the pandemic. Smaller banks, in particular, demonstrate adaptability and resilience by strategically leveraging P2P lending, countering disruptions. The study underscores the pivotal role of smaller banks in navigating economic challenges, providing valuable insights for policymakers, regulators, and financial institutions to adapt to the evolving landscape of financial technology and enhance financial access for the public.

A biy’s court and a council of elders as a historical prerequisite for mediation in Kazakhstan

In Kazakh history, there was a tradition of solving various conflicts in society with the help of the biys and a council of elders. These types of government institutions were the most accessible to the people. Their activities were based on the ideology of justice, humanity, and its ultimate goal was to reconcile the disputing parties and lead them to peace. It was every biy’s and elder’s sacred duty to show full justice to the disputing parties during the settlement of the case. "The ideal of conflict is peace" was found to be one of the main principles underlying the court of biys in nomadic Kazakh society. This, in turn, is one of the main tasks of mediation in modern Kazakhstan. The article attempts to identify the historical continuity of modern mediation and two traditional institutions (the court of biys and the council of elders) with peacemaking and reconciliation activities. A review of the writings of various scholars and historical archive materials was made to determine the court of biys and the activities of biys aimed at peacemaking and reconciliation. The specifics of the activities of the сcouncil of еlders, which is one of the oldest institutions in the traditional Kazakh society, were also identified. The principal avenues for the revitalisation and modernisation of traditional institutions in the context of the Republic of Kazakhstan's current developmental trajectory have been identified.

Institutional Corruptionand Economic performance Nexus:AnEmpirical analysis with evidence from Nigeria

Corruption has emerged as a multifaceted challenge severely impacting the Nigerian economy in recent times. The impetus behind this study stems from the recognition that no sector, whether private, public, local or traditional institution can claim to be free from corruption. The primary objective is to examine the potential repercussions of institutional corruption on the productive performance of the Nigerian economy. Employing the Ordinary Least Squares (OLS) methodology and rooted in the endogenous growth theory, the study underscores that corruption is a hindrance to economic performance in Nigeria, as supported by evidence-based research and documented cases of corrupt practices in the country.In summary, the comprehensive view reveals that corruption detrimentally affects Nigeria's economic performance in various aspects. The study concludes that the effectof corruption on the productive performance of Nigeria is alarming and has manifested adverseconsequences for the economyand if Nigeria fails to combat corruption, the nation risks facing dire consequences due to its pervasive presence.The policy recommendations emphasizedthatthe Nigeria government should streamline and harmonize all forms of monetary transactions and payments in the country using the treasury single account (TSA), National identification number (NIN), the bank verification number (BVN) and all forms of electronic payment systems into a single digital platform and link such digital platform with the various anti-graft agencies for periodic monitoring. This will drastically reduce corruption and transactions with physical cash.Secondly, the Nigerian governmentshouldto demonstrate the political will to prosecute individuals involved in corrupt practices, regardless of their tribe, religion, or political affiliation. Such stringent actions are crucial as deterrents for others. These findings align with the ongoing institutional restructuring agenda widely advocated in Nigeria.