LL M. (Commercial Law) / It is believed that Islamic banking and finance is currently the fastest growing system of banking in the world. In 2010, Islamic finance institutions reported an estimated USD 1 trillion in global assets, and an estimated growth rate of 15%.1 Many countries have taken notice of this growth, and have attempted to implement measures that will allow them to best reap their share of the spoils. This dissertation will attempt to explain the nature of Islamic banking, its history and development, as well as the main principles upon which it is based. The dissertation will then compare Islamic banking and its Western or conventional banking counterparts as well as advantages and drawbacks of both systems. The dissertation will attempt to provide an exposition of the current regime in South Africa and its impact on the functions of Islamic banks, as well as providing an explanation of how these banks operate within the South African legal framework. The dissertation will also explore the legal systems and regulation of Islamic banks and other financial institutions in other jurisdictions, and also attempt to provide a guide as to whether the South African position needs reform or whether it is sufficient to take advantage of this growing sector of finance ...

The research seeks to explore why women in Zimbabwe still face hindrances in accessing micro finance services and what can be done to meet their needs in a more holistic and effective way. Women play a crucial role in the economic development of their families and communities but are faced with certain obstacles that hinder them from performing their role effectively. Such hindrances as poverty, unemployment, low household income and societal discrimination. UNIFEM (1992) confirms that the majority of the world‟s poor have a predominantly female face and argues that women earn only 10 percent of world‟s income and own less than 10 percent of the world‟s property. African women have been characterised by the lack of empowerment caused by societal perceptions and negative cultural practice. In many cases of women rights violation it has been noted that this has been exacerbated by the over reliance on the male counterpart. Development practitioners have noted that micro finance as one of the strategies needed for women empowerment. Despite the concept having been practiced for at least 15 years now, women still face challenges in accessing micro finance services. There is need for Micro Finance Institutions to recognise the position of women in relation to men as actors in society.

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This research empirically investigates Locke's (1997) model of work motivation by means of quantitative research. The OCQ consisting of three tiered questionnaires was constructed based on Locke's model. OCQ-Tierl deals with core components of Locke's model. OCQ-Tier2 determines which factors caused the incidence of dissatisfaction in OCQ-Tierl. OCQ-Tier3 enables the identification of corrective actions. The OCQ was administered to financial services employees. The results were analysed and Locke's model was tested by means of structural equation modelling using the AMOS graphics programme. The results indicated that the model, suggesting causal links between components within OCQ-Tierl, could not be confirmed. A better fit was found at OCQ-Tier2 and OCQ-Tier3. In testing the causal links across the three tiers per component, the models did not fit the data for "personal actualisation" and "goal achievement". Moderate confirmation of the models was found in the case of "goal setting" and "goal behaviour" across the three tiers after some adaptations were made to the models on the basis of "modification indices", suggested by AMOS. A reasonably good fit was found for the models across the three tiers for "quality of work life". The level of correlation between factors was high because of this, and in some cases some of the factors were merged. Modification indices in the statistical output suggested that improvement was possible if covariance between error terms in the model was allowed. This suggested possible systematic sources of covariance between items not accounted for by the factors in the models. As confirmed by the Cronbach Alpha coefficients within tiers and across tiers, the general level of internal consistency was very high. Possibly response set and response style were the cause of this. This made the testing of models difficult in the present study. So too was it difficult to draw a conclusion about the internal consistency reliability of the measurement of each component across the three tiers, because the high Cronbach coefficients may to some extent be due to the indiscriminate high correlations between items / D.Litt. et Phil. (Industrial Psychology)

Despite the widespread adoption of Internet banking, no guidelines exist on what functionality the techno-savvy Generation-Y customer segment (20–37 years) expects from Internet banking websites. This research investigated the functionality that South African Generation-Y customers require from this transacting platform. A user-centred design philosophy with a mixed method research design was used. The technological characteristics of Generation-Y, abstracted from the literature, were aligned with functionality trends of future Internet banking websites to formulate an initial list of Internet banking functionality guidelines. These were evaluated using a survey and interviews, and were also used in a heuristic evaluation of the Internet banking platforms of five South African banks. The findings were integrated to synthesise functionality guidelines. A visual representation of these guidelines was constructed as wireframes for evaluation by Generation-Y users. This study makes a contribution by providing a validated list of Internet banking functionality guidelines for Generation-Y banking customers. / College of Engineering, Science & Technology / M. Tech. (Information Technology)

Thesis (MPhil)--University of Stellenbosch, 2003. / ENGLISH ABSTRACT: The historical development of the role of directors in public listed companies contains inherent tensions by reference to the fiduciary responsibility of directors and the method in which directors are remunerated. The nature of incentive based remuneration is such that it will compel directors, in certain circumstances, to weigh their interests against those towards whom they owe a duty of care and a moral responsibility to act with prudence and temperance. The modem day corporate environment is complex and calls for directors with strong ethical views. This assignment endeavours to identify some of the complexities that contribute towards directors finding it difficult to stay on the ethical "straight and narrow" and attempts to weigh the effect of those factors against the effect of incentive remuneration, both as detractors from ethical behaviour. Both the shareholder supremacy business model and the stakeholder approach are analysed to identify those factors present in each that may add to the ethical complexity that directors have to deal with. The advent of the stakeholder approach in particular, adds an enormous amount of complexity. The case studies deal with two South African financial services companies that have both ceased trading as a consequence of unethical behaviour. The incentive remuneration models of both companies have been found to have played a major contributing role in the decision making processes in the companies, and have contributed to the demise of these organisations. Lessons are taken from the case studies and applied against the backdrop of the various principles of ethical behaviour namely rights, utility, justice and the ethics of responsibility. The finding of this study is that there is a role for incentive remuneration of directors, provided that the ethical pitfalls that this causes are recognised and steps taken to address them. Some of these steps are identified. / AFRIKAANSE OPSOMMING: Die historiese ontwikkeling van die direkteursrol, en spesifiek van openbare genoteerde maatskappye bevat inherente teenstrydighede met verwysmg na direkteursvergoeding en die vertrouensverpligtinge wat op direkteure rus. Die aard van direkteursvergoeding met 'n aansporingskomponent is so dat dit 'n direkteur van tyd tot tyd in 'n posisie plaas waar hy tussen sy eie belange en die van die ander belanghebbendes in 'n maatskappy, aan wie hy dit verskuldig is om met verdrag en versigtig op te tree, moet kies. Die hedendaagse maatskappyomgewing is kompleks van aard, en vereis direkteure met sterk etiese oortuigings. Hierdie werkstuk poog om sommige van die komplekse faktore wat afbreuk doen aan 'n direkteur se vermoe om ten alle tye streng eties op te tree, te identifiseer en op te weeg teen die effek wat direkteursvergoeding speel - beide as items wat afbreuk doen aan etiese optrede. Hier word ondersoek ingestel na beide die sogenaamde "aandeelhouersmodel" asook die" belanghebbende" model waarvolgens besigheid bedryf word. Die ontsluimering van die belanghebbende model veroorsaak spesifiek 'n aansienlike hoeveelheid etiese kompleksiteit. Die gevallestudies behandel twee Suid Afrikaanse fmansiele instellings wat hul bedrywighede gestaak het as gevolg van onetiese optrede deur direkteure. Die aansporingskomponent van die vergoedingsrnodelle in daardie maatskappye blyk 'n groot bydraende faktor te wees in die onetiese besluitneming wat plaasgevind het, en wat uiteindelik tot die ondergang van die ondernemings gelei het. Laastens, word die lesse wat geleer is uit die gevallestudies, toegepas in gewysigde format, en getoets aan die hand van die verskillende beginsels wat etiese besluitneming onderhou, naamlik die beginsels van regte, regverdigheid, utiliteit en die beginsel van etiese verantwoordelikheid. Daar word tot die slotsom gekom dat daar wel ruimte vir aansporingskemas vir direkteure is, maar dat dit slegs eties regverdigbaar sal wees mits ag geslaan word op die lesse wat uit die gevallestudie voortspruit, tesame met die impementering van sekere korrektiewe maatstawwe.

Thesis (MA (Political Science. International Studies))--University of Stellenbosch, 2006. / This study examines, broadly put, why the banking sector in China has not performed as well as other sectors of the economy when compared to international competitors, given that the economy as a whole has been performing so exceptionally at the time of writing and has been for the past two decades. The investigation examines reforms over the past twenty-six years to provide background to the issue as well as taking a view on the Chinese accession to the World Trade Organisation in 2001, providing analysis as to the effects of this accession as well as viewing the undertakings China has made, in general and specific to the banking sector, in terms of World Trade Organisation membership. The methodology employed is descriptive and explanatory in nature and information is sourced from existing academic writing as well as from banking industry publications and research. The source of information for the study is mainly of a qualitative nature, including historical and historical comparative information. Furthermore, the research forms applied research in that it seeks to bring together previous basic and exploratory research in order to identify specific problems and present potential solutions. Findings in the research include the burdensome effects of state-owned enterprises on the banking sector’s largest constituents, problematic aspects of endemic non-performing loans and a culture of lapsing debt in China as well as problems regarding political interference in the banking sector by the state and local authorities. Further problems identified include reporting and supervisory concerns, taxation treatment problems and a lack of risk-based commercial lending criteria in big Chinese banks. Analysis is provided into the effect of current and past restrictions in the sector, the development and reform model China is using to globalise its banks and the 2005 investment surge into China’s bank. Recommendations are made regarding the foreign ownership of the Chinese banking sector, state recognition of bad-debts as state loans, debt-management through asset management companies and reform of the state-owned enterprises and the problems inherent to this initiative. Finally, recommendations as to the role of the regulator and the challenge of political will are highlighted.

Thesis (MComm)--Stellenbosch University, 2011. / ENGLISH ABSTRACT: Organisations today form part of a global market economy characterised by constant change and a high level of competition. This is especially true for organisations functioning in competitive markets or industries, such as the service industry. New Product Development (NPD) has been recognised as an avenue for organisations to remain relevant and competitive in this constantly changing landscape. A successful new product can potentially do more good for an organisation than anything else that can happen to it. Despite this critical role, the strategic and operational aspects of the product development process are poorly understood, particularly in the service industry. The South African financial services industry is an example of a service industry characterised by a high level of competition, rapid technological advancements, stringent regulations and changing client needs. This is particularly true for the investment sector of the industry, which endeavours to remain relevant and progressive within both a domestic and an international context. As a result, organisations functioning in the investment sector increasingly need to engage in developing and introducing new products to ensure their survival. Against this background, such organisations should realise the importance and potential benefits of an increased understanding of how to improve the success of their NPD efforts. The purpose of this study was therefore to investigate factors influencing the success of New Product Development in the investment sector of the South African financial services industry. Twelve success factors were defined for the purpose of the study. They are: a successful launch, effective NPD management, product superiority, a favourable market environment, good use of communication, effective IT systems, a NPD-friendly corporate culture and the use of a formal NPD process, legislation, distribution of the product, the marketing budget, and the timing of the release of the product. Additionally, nine measures of success were examined, namely: commercial, technical, financial and sales measures, as well as the NPD process followed the level of client satisfaction, and the size, performance and longevity of the product. This study made use of a structured questionnaire, which was developed, based on the literature reviewed and on the feedback from the pilot study. The questionnaire made use of a seven-point Likert scale, and was electronically administered via email to the chosen sample group. The results from this study indicated that 10 of the 12 identified success factors have a significant influence on one or more of the measures of success. The remaining two success factors, namely, the distribution of the product and the marketing budget, were found to have no significant influence on any of the measures of NPD success. It was also revealed that three of the success factors had a significant influence on the overall measure of NPD success (all 9 measures grouped into one), namely, the characteristics of a "superior product"; the implementation of an effective IT system; and the timing of the product release. Furthermore, the implementation of effective IT systems revealed an unexpected negative relationship with three measures of success as well the overall measure of NPD success (all 9 measures grouped into one). A number of implications were suggested and recommendations made, based on the findings. Specific recommendations were made to NPD practitioners, regarding methods which could be implemented to enhance and better manage the influence of the identified success factors in order to increase their product development success. An important recommendation was made regarding the IT system project requirements and associated costs. It was recommended that the IT system requirements be carefully scoped in the infancy stage of the project by consulting with an IT specialist because of its influence on both the overall costs and project success. Specific recommendations were further made regarding a number of the other identified success factors. Finally, based on the findings, several recommendations were made regarding further research. / AFRIKAANSE OPSOMMING: In die huidige klimaat van die wêreld-ekonomie staar organisasies gedurige verandering en groot kompetisie in die gesig. Dit is veral waar vir organisasies wat moet funksioneer en oorleef in kompeterende markte of industrieë, soos die dienste industrie. Dit word algemeen aanvaar dat die konsep van Nuwe Produk Ontwikkeling (NPO) 'n noodsaaklike opsie geword het vir besighede en organisasies om relevant en kompeterend te bly in hierdie konstante veranderende landskap. 'n Suksesvolle nuwe produk kan vir 'n besigheid groter waarde toevoeg as enigiets anders wat daarmee sou gebeur. Ten spyte van hierdie belangrike en beslissende rol wat dit speel, is daar min begrip vir die rol van strategiese en operasionele aspekte van die Produk Ontwikkelingsproses veral in die dienste industrie. Die Suid-Afrikaanse finansiële dienste industrie is 'n voorbeeld van 'n dienste industrie wat gekenmerk word deur sterk kompetisie, snelle tegnologiese ontwikkeling, streng regulering en veranderende kliëntebehoeftes. Dit geld veral vir die beleggingsektor in die industrie, wat daarna streef om relevant en progressief te bly in beide 'n plaaslike, sowel as internasionale konteks. Gevolglik, ten einde hul voortbestaan te verseker, is dit toenemend noodsaaklik dat organisasies in die beleggingsektor gedurig nuwe produkte ontwikkel en toepas. Teen hierdie agtergrond is dit noodsaaklik dat sulke besighede die belangrikheid, sowel as die potensiële voordele daarvan besef dat 'n bewussyn gekweek word ten opsigte van maniere om die NPO se sukses te verseker. Die doel van hierdie studie was dus om die faktore te ondersoek wat die sukses beïnvloed van NPO binne die beleggingsektor van die Suid Afrikaanse finansiële dienste industrie. Twaalf sukses faktore was vir die doel van hierdie studie geïdentifiseer. Hulle is: 'n suksesvolle bekendstelling, doeltreffende NPO bestuur, 'n superieure produk, gunstige markomstandighede, goeie gebruik van kommunikasie, doeltreffende IT-stelsels, 'n korporatiewe kultuur wat NPO vriendelik is, gebruik van formele NPO prosesse, wetgewing, verspreiding van die produk, die bemarkingsbegroting, en die tydsberekening ten opsigte van die produk se bekendstelling. Verder is nog nege maatstawwe van sukses gemeet, naamlik: kommersieël, tegnies, finansieel- en verkoopsmaatstawwe, sowel as die NPO-proses wat gevolg is, die vlak van tevredenheid van die kliënt, en die omvang, prestasie en lewensverwagting van die produk. Hierdie studie het gebruik gemaak van 'n gestruktureerde vraelys wat ontwikkel is op die basis van die literatuur wat hersien is, asook terugvoering vanaf die loodsstudie. Die vraelys het gebruik gemaak van 'n sewe-punt Likert skaal en was elektronies geadministreer deur middle van e-pos aan die uitgesoekte steekproef groep. Die resultate van hierdie studie het aangedui dat 10 uit die 12 suksesfaktore wat geïdentifiseer is, 'n beduidende invloed gehad het op een of meer van die maatstawwe van sukses. Die laaste twee, naamlik, die verspreiding van die produk en die bemarkingsbegroting, het nie 'n noemenswaardige invloed gehad op enige van maatstawwe van NPO sukses nie. Dit het ook duidelik geword dat drie van die suksesfaktore wel 'n beduidende invloed gehad het op die algehele NPO maatstawwe van sukses (al nege saam groepeer as een), naamlik, die eienskappe van 'n "superieure produk"; die aangewend van 'n effektiewe IT-stelsel; en die tydsberekening ten opsigte van die produk se bekendstelling. Verder, die aanwending van 'n effektiewe IT stelsel het 'n onverwagse negatiewe verhouding gevorm met drie maatstawwe van sukses asook met die algehele NPO maatstawwe van sukses (al nege saam groepeer as een). Verskeie gevolge is genoem en aanbevelings is gemaak op grond van die bevindings. Spesifieke aanbevelings is aan die NPO praktisyns gelewer ten opsigte van stelsels wat toegepas kan word om genoemde suksesfaktore doeltreffend te bestuur en te verbeter en gevolglik die sukses van die produk ontwikkeling te verhoog. 'n Belangrike aanbeveling was met betrekking tot die IT-stelsel se projek behoeftes en gepaardgaande kostes. Daar is voorgestel dat die omvang van die IT-stelsels in die beginstadium met groot omsigtigheid bepaal word en 'n kundige op die gebied van IT behoeftes moet geraadpleeg word, aangesien dit 'n groot impak kan hê op oorhoofse kostes, sowel as die sukses van die projek. Meer spesifieke aanbevelings is ook gedoen ten opsigte van sekere van die ander faktore wat geïdentifiseer is. Op grond van hierdie bevindings kan ten slotte verklaar word dat daar etlike aanbevelings ter ondersteuning van verdere navorsing was.

Thesis (MComm)--Stellenbosch University, 2004. / ENGLISH ABSTRACT: The high degree of extant commoditisation of organizations and their value propositions in the financial services industry has necessitated organizations in the industry to seek differentiation from the competition. Innovation has generally been accepted as a way for organizations to create differentiation by adding value to the organization. Until recently the focus of innovation activities has been limited to the product or the service of the organization. Recent emphasis has however shifted the innovation mandate to more holistically consider the total experience the customer has when interacting with the organization. This study concerns itself with the organizational activities required to innovate the customer experience. The main argumentation adopted by the thesis suggests that organizations need to constantly leverage their connectivity, forward and backward in value systems, across organizational boundaries to enhance the customer experience innovatively. Leveraging the organization's connectivity creates advantages for both radical and incremental innovation management to thereby improve and sustain the organization's profitability. The study commences by critically analysing the total customer expenence and then describing how the customer experience can create differentiation for the organization. The second part of the study scrutinises innovation literature to gain an understanding of how and where organizations can benefit in the management of innovation. The third part of the study reveals multi-channel management as a method that can be utilised to deliver the customer experience innovatively and benefit the organization in the continuous innovation of the customer experience. The study culminates in a preliminary model that conceptualises the leveraging of connectivity in the innovation process necessary within the organization for the innovation of a differentiated customer experience. Limitations of the study are described, and recommendations are made for both further research and the application of the study to the business environment. / AFRIKAANSE OPSOMMING: Ondernemings in die finansiële dienste industrie ondervind huidiglik dat hul waardeproposisies relatief maklik in kommoditeite verander. Dit noodsaak ondernemings in hierdie industrie tot toenemende innoverende differensiasie om daardeur 'n voorsprong op konkurrente in die mark te verkry. Innovasie word algemeen aanvaar as die manier waarop organisasies waarde kan toevoeg om sodoende differensiasie te bewerkstellig. Tot onlangs was die fokus van innovasie-aktiwiteite beperk tot die produk of diens van 'n onderneming. Die moderne tendens is dat die klem in die innovasiemandaat verskuif om die totale ervaring in die interaksieproses tussen onderneming en kliënt holisties te benader. Hierdie studie konsentreer op die organisatoriese aktiwiteite wat benodig word in die innoveering van die kliënt se ervaring. Die hoof argument wat deur die tesis aanvaar word, beklemtoon dat ondernemings deurlopend hul konnektiwiteit voor- en terugwaarts in die waardesisteem, moet hefboom oor organisatoriese grense heen, om daardeur die innovasieproses van die kliënte-ervaring te bevorder. Om die onderneming se konnektiwiteit op hierdie wyse te hefboom, skep voordele vir beide radikale en inkrementele innovasie bestuur waardeur die onderneming se winsgewendheid volgehou en verbeter kan word. In die aanvang van die studie word gepoog om die totale verbruikerservaring krities te analiseer; daarna word uiteengesit hoe die kliënte-ervaring vir die onderneming differensiasie kan skep. Die tweede deel van die studie ondersoek literatuur wat betrekking het op innovasie om daardeur te verstaan hoe en waar ondernemings voordeel kan trek uit die bestuur van innovasie. Die derde deel van die studie stel multikanaal-bestuur voor as 'n metode om die beoogde kliënte-ervaring te weeg te bring, maar ook as 'n manier om die onderneming te bevoordeel in die deurlopende innovasie van die verbuiker se ervaring. Die studie resulteer in 'n voorlopige model wat die hefboom van konnektiwiteit in die innovasie proses vir 'n gedifferensieerde kliënte-ervaring konseptualiseer. Ten slotte word die beperkings van die studie omskryf en aanbevelings word gemaak vir beide navorsingsdoeleindes, en die toepassing van die studie tot die praktiese sakeomgewing.

Thesis (MDF (Development Finance))--University of Stellenbosch, 2010. / Financial Services Associations (FSAs) have been established in Sierra Leone as a new form of shareholder-owned village bank since 2007, as part of an ongoing IFAD programme to assist the development of rural finance. This research report is a case study examining the viability of the FSA concept in the Sierra Leonean context, particularly with reference to previous research findings in other countries in Africa, and it includes a field survey within the communities and amongst the staff and board members of the FSAs. The findings of the study reveal a wide acceptance amongst the village communities of both the structure of the institutions and the products and services that they are capable of offering. There was no evidence of the abuse of their positions by the members of the boards with regard to their own loans and repayments, as had been reported in other studies. However, there is a pressing need for further staff training and sensitisation of the communities regarding their rights as shareholders. There is also a need for further injections of capital, and the study recommends the introduction of a wide range of additional products and services and the establishment of links with other financial institutions, such as community banks and commercial banks. It was found that there are considerable demands on IFAD’s management unit that is responsible for the FSAs. These demands are growing as the number of FSAs increases, and it is recommended that this unit be strengthened before continuing its expansion programme, to enable it to consolidate its strengths before its activities are dispersed too widely.