2019, Sultan, Jamil, Bechter, Clemens

Islamic financial institutions must comply with the Shari‘ah law. This makes them distinctly different from conventional Western banks. Big Data Analytics (BDA) is a technology and as such regarded as culture-free. There are a few pilot BDA projects in conventional banks but none in Islamic banking. Our paper fills a research gap by analyzing possible applications and implications of BDA for Islamic banks and its regulatory institutions. Our field research showed that the benefits of BDA are already here or will flourish within the coming five years. Implications of our research are that Islamic Banks must start drafting a roadmap for their organization. Risk management is one area where BDA can be of great benefit.

2018, King, Karland, Bechter, Clemens, Rotchanakitumnuai, Siriluck

The purpose of the study is to evaluate the perceived usefulness of online materials from a veterinarian’s perspective. The authors used an online questionnaire that was posted on the homepage of a Veterinarian News site. Questions were based on previous publications and added contemporary services such as remote pet monitoring by means of wearable electronic devices. According to our study, the perceived usefulness of online services can be condensed into four major dimensions: 1) Authoritative Knowledge & Updates; 2) Practical Online Content delivered by webportals; 3) Remote Monitoring/Tracking of pets; 4) Health Coaching. The findings have implications for the cooperation between suppliers and veterinarians. One size does not fit all. Veterinarians want to use digital media for receiving competent personalized advice in order to sell it on to their customers. Suppliers will have to provide unbiased advice to compete for veterinarian’s heart share instead of simple market share.

2018, Salhout, Sand, Bechter, Clemens

Bitcoin is part of a wider range of opportunities to creating cryptocurrencies based on blockchains. Research has shown that the existing cryptocurrencies are very volatile and often illiquid. A cryptocurrency endorsed by a Central Bank, as the starter of a private blockchain, will most likely show more stability. It may even take the form of legal tender. However, since almost all countries have their own currency already, the governments will not feel the need for an additional currency. One exception is Palestine. It enjoyed the privilege of having its own currency in the past. The purpose of this research is the evaluation of the feasibility of a cryptocurrency as legal tender. The authors recommend a new Palestinian Pound built on a private blockchain using Hyperledger. In practice it would not differ from any other fiat (legal) currency. The current weakness of not having its own currency could be turned into a strength by becoming the most advanced economy where transactions are transparent and efficient. This paper fills a research gap by analyzing the opportunities of a cryptocurrency that is actual legal tender and endorsed by a monetary authority.

2018, Salhout, Sand, Bechter, Clemens

The pharmaceutical industry is known for investing heavily in promotions targeted at healthcare professionals (HCPs). Governments around the world try to regulate unwanted promotional practices in different ways. Where binding laws are in place in the U.S.A., European governments favor self-regulation. The purpose of this research is the evaluation of the Middle East and Africa Code of Promotional Practices (MEACPP) as a preliminary draft and its implications. Our paper fills a research gap by looking into the perceptions of the parties involved, analyzing their interests, and predicting possible outcomes. We used a mixed-method approach. Interviews were conducted with pharmaceutical companies and associations, while a questionnaire was administered to HCPs. Our findings suggest that all parties are in favor of more transparency. However, when it comes to disclosing the received financial support, the HCPs are hesitant. An estimated 20% would be willing to fully disclose their received benefits, which is in line with their European colleagues. Multinational pharmaceutical companies follow their own in-house standards and fear being at a competitive disadvantage when local companies can promote their drugs without any strings attached. MEA pharmaceutical companies do not see the potential benefits of analyzing the publicly available data to identify key opinion leaders (KOLs). The limitation of our research is the fact that the MEACPP has not been implemented yet and survey results are therefore based on expectations rather than real events.