The efficacy of the Egyptian bank reform plan in mitigating the impact of the global financial crisis

This study tests the ability of the Egyptian Bank Reform Plan (2004–2009) to enhance bank efficiency and attain the prime national macroeconomic objectives of generating youth employment, stabilizing consumer prices and managing national debt, which were significantly impacted by the global financial crisis (GFC). The Pedroni Fully Modified Ordinary Least Squares (FMOLS) method is employed and the period covered extends from 2003:01 till 2010:03. The results of the study reveal that the bank reform program has helped the economy weather the impact of the global economic meltdown. On the whole, the reformed banking sector showed evident success in helping the Central Bank of Egypt achieve its nominal anchor of price stability, with the highest outcome delivered by foreign banks. State banks are the most efficient in creating jobs and financing national debt. Private domestic banks are fairly functional in job creation and financing foreign debt. While these results attest to the general success of the reform in mitigating the impact of the blow of the GFC, further enhancement of the role of foreign banks is needed to attain the other two macroeconomic goals.     

Quick Response Code In Acrylic Denture: Will it Respond When Needed?

Use of acids and other caustic substances in destroying the human body to avoid personal identification is drawing great deal of attention in recent times. With rapid industrial growth, incidence of industrial disasters has increased. In an event of chemical industry disaster, human identification can become a challenge. Embedding bar codes and other electronic means for identification in denture have proved to be a novel innovation in identification of edentulous patients. However, the validity of this method in events of chemical extremes has not been assessed. Hence, the study was undertaken to know the effect of different acids on dentures embedded with quick response codes. Results of this study indicate that simple bar code can be readable up to 33 h after acid treatment. With minimal armamentarium, bar code can be generated incorporating large data into it, providing it to be a cheap and reliable means of denture identification.     

Basel III, the Devil and Global Banking

The 2008 financial crisis started on Wall Street, but rapidly spread to the entire world. The response of the G20, international regulators and central bankers was the design and issuance of a new set of regulatory capital, liquidity and corporate governance standards—known as Basel III. As much as Basel III has gained the support of depositors and politicians, it has triggered a wave of stern opposition from bankers. In his widely distributed book—Basel III, the Devil and Global Banking—Dimitris Chorafas includes a detailed analysis of the concerns and anticipations of bankers, domestic supervisory agents and global regulators. This book review gives an appraisal of the book. Other than stressing the need for a total cultural transformation, embracing the ethos of risk management, Chorafas introduces a comprehensive restructuring program including efficient fiscal and monetary policies, enhanced governance procedures, improved risk management practices and the total separation between monetary authorities and politicians.