Shared Values Conference: second day review
by Alex Went, on 06 June 2014 14:58:16 CEST
With a focus on topics connected with Finance, conference delegates heard from five speakers: Radek Urban, Sherrihan Radi, Ivana Hrdlickova, Thomas Draper and Fred Hutchinson.
Mr Urban has had long experience of the financial industry at a high level, having served as Deputy Minister of Finance in the Czech Republic, and previously as director of asset management at Ceska Sporitelna. His witty - and at times worrying - lecture took as its focus the 2008 financial crisis and the way in which investment strategy is always affected by critically sensitive issues of timing and knowledge.
Sherrihan Radi and Ivana Hrdlickova spoke persuasively in favour of the advantages of Islamic or Islamic-inspired banking systems. Increasing Muslim populations and a growing awareness of Islam in the West have made this kind of 'ethical' banking, which emerges from a set of rules that prohibit usury, more and more interesting as an alternative to conventional systems.
Tom Draper and Fred Hutchinson, lecturers respectively at Prague College and Teesside University, concluded the afternoon's talks. Tom presented on the important area of fractional reserve banking, in particular focusing on the current research being done at the Prague College CRIS on deriving a formalised model to calculate financial penalties for transgression of liquidity reserves in banks. Fred Hutchinson from Teesside University Business School detailed the expanding role of auditing and its impact on corporate governance due to the increasing demands of social and environmental responsibilities being placed on organizations.