European Journal of Social Sciences

Volume 51 No 3
March, 2016
The Legal Aspects of Insurer Recourse Against the Insured and the Driver Who Is At Fault in Vehicle Accidents in Jordanian Compulsory Insurance Regulation
Mohammed Ali Helalat and Mohammed Elayan Alazzam
It can be said that compulsory insurance regulations were founded on the basis of reducing vehicular accidents. For these regulations to be effective, the law must reflect the rights of the insurer or insurance company to gain recourse against the insured and the driver who caused the accident because the insurer is responsible for the protection and compensation of others (third parties) for damages that are sustained in the accident from the insured's vehicle.
Hence, this research sheds light on cases of insurer recourse against the insured and the driver who caused the accident through the study of Article 16 of the Jordanian compulsory insurance regulation No. 12 of 2010 and also through the viewing many of the decisions of the Jordanian court of cassation regarding these issues.
Keywords: compulsory insurance, recourse cases, insurer, insured, subrogation.
New Regulatory Framework for Non Performing Loans during the Great Greek Depression
Spyridon Repousis
The purpose of this paper is to present main features of New Regulatory Framework for Non-Performing Loans in Greek banking system during current economic crisis. Non-Performing Loans (NPLs) accounted to 34.2% of total bank loans in Greece, end of September 2014 and New Legislation tries to liberate Greek banks from that, one way or another by selling or subcontracting the huge problematic portfolio in their possession.
NPLs will be managed by specialized Non-Performing Loan Asset Management Companies (NPLAMCs) or transferred to them. NPLAMCs will be regulated by Bank of Greece, central bank of Greece, which impose criteria and licensing procedures. The license will be granted within 20 business days from the day the application was submitted and the relevant file has been found to be complete (i.e. no additional documents or information are requested). New companies’ minimum paid-up capital has been set at EUR 100,000 and may grant new loans on condition that they have the prior consent of the claims’ owner.
New Regulatory Framework includes protective provisions with regard to the borrowers’ rights. In particular, it explicitly prohibits the erosion of any rights (substantive and/or procedural) of the borrower whose debts are to be managed under a management agreement; the same is provided in relation to any guarantors.
As a consequence of new framework, non-performing entrepreneurial loans will change hands and, consequently, that will shift the ownership of some of the biggest domestic companies to foreign hands, the so-called “de-hellenization” of the better part of the Greek economy and the sell-off of the Greek economy.
The effects of the New Regulatory Framework for Non-Performing Loans in Greece, is expected to have important impact on Greek banking system, in distressed assets and foreign investors and also in the economic recovery of the country in general.
The impact finally remains to be seen and in any case new regulatory framework represents a step forward.
Keyword: Greece, banks, Non Performing Loans, Regulatory Framework
Micro Small and Medium Scale Foundries in India: the Challenges
Gajanan Patange and Mohan Khond
In India Micro, Small and Medium Enterprises (MSME) have been considerable percent of the manufacturing output and percentage of the exports for several years. Ferrous castings MSME is vital for the growth and development of the engineering industry in Asia.
Most of the MSME foundries do not have International Quality Accreditation. Almost all the MSME foundries use conventional technologies. This industry is facing numerous challenges in terms of cost as well as quality issues. Current research paper identifies various challenges pertaining to MSME foundry sector in India through case study by conducting a survey.
Keywords: MSME Foundry; Challenges; Best available Technology.
Behavioral Characteristics of Gifted and Talented Students in Jordanian Schools
Raid Mousa Al-Shaik Deeb
The present study aimed to identify the behavioral characteristics that distinguish gifted and talented students in the schools at Jordanian Ministry of Education from the first grade through twelfth. The sample of the study consisted of (553) gifted and talented students. A scale has been built to measure the behavioral characteristics; the scale has suitable validity and reliability, teachers were asked to estimate the study sample on the scale. The study results indicated that all the behavioral characteristics included in the scale represent the distinctive characteristics of gifted and talented students.
Keywords: Gifted and Talented Students, Behavioral Characteristics List.
Review of Pension Schemes of Ukraine and Argentina in Comparison With Nigeria’s 2014 Pension Reform Act
Joshua O. Nweke
The effectiveness of a pension plan or scheme is a function of its contents, structure and management. Over the years, the non-contributory pension scheme in Nigeria was confronted with daunting challenges. As alternative to these challenges, the 2004 Pension Reform Act came into force. The 2004 Pension Reform Act was amended in 2014and it gave rise to the 2014 Pension Reform Act. With this new pension plan for retirees in Nigeria, it became imperative to evaluate the position of this new pension scheme in comparison with the pension schemes of other countries outside African Sub- Region, hence the choice of Ukraine from Europe and Argentina from South America. In the review, it is a fact to note that the pension schemes of the two countries vary from that of Nigeria in terms of their titles but similar in their contents. For instance, all the three have the feature of contributions from both employers and employees. The significant different is in the value of contributions for each party (workers and management). Among these countries their pension schemes were reviewed, it is only Ukraine’s pension scheme that has maturity status. Others do not have. Challenges of sustainable financing face all the schemes. This means that measures of sustained financial security should be strengthened. In Nigeria, operators of the contributory pension package especially employers need to be regular in their contributions. Employees on their part should develop the attitude of having constant check on their contributions so as to dictate any eventuality that might arise and address them. This will ensure the success and credibility of the scheme.
Keywords: Pension scheme, Contributory pension, Pillar, Retirement
Exploring the Effect of Marketing Mix Elements on the Quality of Medical Tourism Services in Jordan
Ibrahim Kahlil Bazazo, Omar Abedalla Alananzeh and Kefah Fare Alnahar Alshawagfih
The study explores the effect of marketing mix elements on the quality of medical tourism services in Jordan. It also investigates the satisfaction of the tourists who come for treatment in the Jordanian hospitals and points out the reasons for choosing Jordan as medical tourism destination, especially after the great progress in medical services recently. The study targets at identifying the effect of marketing mix elements of the tourist services in the Jordanian hospitals and determining the reasons behind the differences among the tourists who come for treatment in Jordan concerning the economic, demographic and educational factors. A proper sample of 115 patients was taken from the Arab tourists who utilized treatment services in the Jordanian hospitals. The most important results of the study revolved around the existence of statistically significant differences in the special significance of the relative advantage of Jordan in presenting medical services, in addition to the presence of significant differences in the relative importance granted to some marketing mix elements based on the economic factor. The study produced some recommendations to the competent authorities in charge of marketing the medical tourism product represented in the Ministry of Tourism and the Ministry of Health to enable the hospitals in Jordan to present developed medical tourism on the level of the region.
Keywords: Marketing Mix Elements, Medical Tourism, Added value, Quality, Services, Communication skills.
Practitioners’ perceptions of Islamic Derivatives vis-à-vis Conventional Derivatives in Pakistan
Sahar Munir, Bob Ryan, Khaled Hussainey and Muhammad Imran Majeed
This paper aims to compare conventional derivatives and Islamic alternatives in the Context of Pakistani Islamic banking practice. Conventional financial derivatives emerged in the late 1960s and now form a significant share of the global financial market. However a lot of responsibility has been laid on them for the recent financial crisis. The objections and reservations of Islamic scholars towards conventional derivatives are examined in this paper and how they are addressed in the construction of Islamic derivatives. We contribute to Islamic finance literature by offering the first empirical paper on the Islamic derivatives practice in Pakistan. We use face-to-face interviews with officials of Islamic Financial Institutions and Shariah Advisors to answer our research questions. We focus on the Islamic Financial Institutions that are practicing Salam and Istisna as they were the only two available Islamic derivatives practiced in the country.
We find that the concept of Islamic derivatives does not exist in Pakistan, although some of the products elsewhere considered as being Islamic derivatives are used as a mode of finance. The findings also suggest some disagreement within the Pakistani Banking sector with other Islamic countries on the status of Islamic derivatives. The possible reasons for this are discussed in the paper, such as Islamic Banking is still in a maturing stage, along with Pakistan being conservative. The market of conventional derivatives within Pakistan is also very small, being started only in 2005. In addition, as an agricultural country, most investments are undertaken in production. Lastly, the difference in interpretation of verses of Quran and Ahadith by Islamic Scholars also plays a role in range of different opinions on Islamic Derivatives.
Keyword: : Islamic derivatives; Pakistan; Salam, Istisna
A Relationship between the Success of Development Politics in some Arab Countries and Social Movements in the Arab World (Egypt as a Model)
Fatema Al Zubaidi
The German sociologist Lorenz von Stein is credited for introducing the term “social movement” in his book “The History of the French Social Movement from 1789 to 1850” to mean a popular political struggle. This term also appears in the Communist Manifesto of Karl Marx and Friedrich Engels, who declared that “all previous historical movements were movements of minorities, or in the interest of minorities. The proletarian movement is the self-conscious, independent movement of the immense majority, in the interest of the immense majority.” (Marx, 1958)
Integrity Governmentality and New Generation of Instruments for Bringing the Behaviors of Traders, Manufacturers and Investors in Line with Integrity
Dr. Mohammad Orsan Al-Zoubi
The major methodological gaps; that most local policy studies are descriptive and normative in nature; analyze regulatory reform with focus on the final outcomes of policy rather than investigating the process, in which the policy are defined and shaped in the first place.
Governmentality approach as focal interest of policy analysis, initially comes from heritage that outlined by the French sociologist Michel Foucault. His work is relevant to this study which concerns the role of govern-mentality in policy choices process and its realizations.
Integrity governmentality framework has developed and utilized for understanding regulatory reform in Jordan customs integrity policy and how general-mentality of governing and power effect of new policy instruments have brought behaviors of traders, manufacturers and investors into a new discipline of integrity.
This framework comprises four dimensions: the institutional actors' structures and the role of different policy actors, the political and administrative culture as features of the policy process, power of knowledge as basis for policy development, and the power effects of intensification and normalization process on behaviors and actions of the regulatory bodies.
Organizational Effectiveness in the Academic Quality Improvement A Case Study on Higher Education of Alauddin State Islamic University Makassar
Arifuddin Siraj
This article aims to reveal the effectiveness of the organization Alauddin State Islamic University Makassar (then called the UIN Alauddin Makassar) in improving the academic quality in terms of the principles of organization
The findings indicate that the organization posts UIN Alauddin Makassar effective in improving the quality of academic visits principles of organization.
There are several things to get the attention of the leadership of the university, especially the Rector namely: (1) there is still a lot of officials and general employees who do not know the vision, mission, goals UIN Alauddin so the mechanical work. (2) There are still some officials who do not know the statutes and other regulations resulting in the decision/policy are often at odds with the principles of academic. (3) Many employees were recruited not based on a needs analysis, but by collegial (nepotism), not through the selection and not good for the task anyway. That is why most employees both at the rector, faculty and technical and operational units are not creative, innovative in their work, but are waiting for the command from superiors. (4) There is no faculty leaders who recruit officials Prodi and the majors are not based on professionalism, but based upon the interests of power politics and factional interests.
Keywords: organizational effectiveness, quality of academic