Optimizing dormant account management in UAE banking: Legal gaps and proposed reforms

Various mechanisms for implementation, and at the same time contradictory approaches to the essence, evaluation, reflection, and regulation, led to the need to consider and improve approaches to the recognition of cryptocurrency.

Based on the critical analysis of the legal provisions in Ukraine and the approaches of scientific experts, practitioners and international experience, the economic essence of cryptocurrency is substantiated. The legal, economic and accounting aspects of cryptocurrency recognition in developed and transformational economies are revealed. In order to meet the information needs of users, the peculiarities of the application of methods for estimating cryptocurrency commodities and the influence of the chosen method on the reflection of such an asset in the financial statements have been identified. The necessity to clarify and harmonize existing national accounting standards for recognizing and reporting on cryptocurrency transactions has been identified.

The proposed approach to the identification and recognition of cryptocurrency goods will improve the relations between the owners of cryptocurrency and the state, legalize cryptocurrency transactions and form an effective system for managing such transactions in Ukraine.

In the context of global economic integration, there are many opportunities for promoting economic development, but there are also challenges of complexity and risk in business activities. This always raises many questions that need to be resolved for credit institutions. The internal control system of credit institutions has become increasingly important for the sustainable development of the national financial system. The purpose of the paper is to evaluate the effectiveness of the internal control system in the practical application of Vietnamese credit institutions. Descriptive statistics are applied to analyze data using SPSS software. The structured questionnaire is designed to collect objective opinions and purposive sampling techniques among 382 experts who are managers of credit institutions in 2020. The results show that all five components improve the effectiveness of the internal control system, and the internal control system plays a role in the safety of Vietnamese credit institutions. Thus, the Central Bank of Vietnam should improve the legal framework and related internal control provisions for credit institutions in accordance with international principles to improve the effectiveness of the internal control system.

Academic literature struggles to explain investors’ attitude towards fees and expenses charged by mutual funds. In general, investors have been found to exhibit a puzzling lack of interest in this non-trivial component of their total return, raising questions of rationality of real-world investor behavior. An emergence of exchange-traded funds (ETFs), their rapid proliferation in the past decades and distinct features, such as more simple expense structure, present a valuable opportunity to contribute to the debate surrounding the pricing of funds. To better understand the expense policy/fund flows dynamics, the authors first test a conjecture that later entrants in the ETF markets face a disadvantage in competition for fund flows. Then, they test whether competitive pressure can be successfully overcome by lowering expenses charged to ETF investors. The results suggest that, though it is not necessary to be a first entrant in a fund category to enjoy competitive advantage, an earlier market entry is beneficial for attracting fund flows. It is also found that later entrants’ to the ETF market successfully use the strategy of reducing their expense ratios. Firms with lower net expense ratios obtain greater investment, as evidenced by greater capitalization and market share, supporting our intuition that investors may acknowledge the merits of low-cost ETFs.