Indian Journal of Finance and Banking 2019-07-06T11:52:44+06:00 Managing Editor Open Journal Systems An Empirical Evaluation on Performance of Organization through Human Resource Accounting (HRA): A Study on Selected Corporate Units of India 2019-01-19T19:56:01+06:00 Atul Bansal Preeti Sharma <p>This study attempts to analyze the importance of Human Resource Accounting (HRA) practices for corporate financial reporting. This paper is both a theoretical and empirical exploration, aimed to some suggestions of new thoughts, methods, techniques and applications of HRA. Various MNCs in the field of HRM provide different types of thought about the practices of personnel management with different systems and aims of financial analysis and reporting.&nbsp; HRM has been and remains one of the most powerful and influential ideas to have emerged in the field of business and management. Effective practices of human resources in the accounting statement can ensure long-term benefits to the employees of the corporations and it also increases quality, performance, values, and commitment to future need. The data of this study was collected from secondary and primary sources from selected corporate units. Very few corporations are practically practices this concept in their accounting and financial report. Some findings and suggestions are addressed in the study that may be the prerequisite for organizational growth and development.</p> 2019-01-19T19:53:42+06:00 ##submission.copyrightStatement## Complex Probability and Markov Stochastic Process 2019-06-04T18:06:24+06:00 Bijan Bidabad Behrouz Bidabad <p>This note discusses the existence of "complex probability" in the real world sensible problems. By defining a measure more general than the conventional definition of probability, the transition probability matrix of discrete Markov chain is broken to the periods shorter than a complete step of the transition. In this regard, the complex probability is implied.</p> 2019-06-04T18:05:03+06:00 ##submission.copyrightStatement## The Executive Mechanism of Rastin Profit and Loss Sharing (PLS) Banking 2019-06-08T12:15:10+06:00 Bijan Bidabad Mahmoud Allahyarifard <p>Despite the interest of bankers for using Profit and Loss Sharing (PLS)<a href="#_ftn1" name="_ftnref1">[1]</a> banking for the last decades, it has not prevailed yet executively. The existence of different definitions of Riba, absence of appropriate operational, supervisory, and managing mechanism on PLS are some reasons that haven't allowed this kind of banking to be practiced yet. Here, we are going to introduce a practical method for Profit and Loss Sharing (PLS) banking to overcome these problems. In this bank, the basis for determination of interest rate of loans is real economy return rate. The bank operates as an intermediary, who gets commission fee, collects saving resources and as an attorney or legal representative of the depositor, allocates them to investment projects, and supervises the detailed operation of the contractor. The yields of the investment will transfer to resources owners who are depositors whatever profit or losses.The PLS banking is a banking system with newly defined instruments of Mosharaka and Pazireh that not only stabilizes the financial and economic markets by preventing the banks, loanees /entrepreneurs and design, construction and contractor sectors in the economy from bankruptcy during crisis periods and volatile markets, but also makes the banks as an international firm which perform similar jobs as stock exchange markets for transactions of PLS products certificates through a secondary certificate market on virtual internet space. Depositors will earn more stabilized benefits too.In this designed method, a trustee (Amin) is a unit who supervise the contractor/entrepreneur operations on behalf of the bank for being honesty in carrying out the project, controlling on executive operations along with announced programs, resources allocation manner, and auditing financial statements.PLS banking will use new financial instruments and innovations such as Mosharaka (partnership) Certificates for projects with specific ends and Pazireh (Subscripted) Certificates for endless (productive) projects. Establishing of secondary exchange market for the transaction of certificates, and various insurance services will play important roles for activating and increasing the efficiency of newly established virtual markets.All of the activities in this method will be done on the basis of compiled instructions. The framework and the organization of the PLS banking have been analyzed in forms of required committees, units, and departments tailored for this type of Non-Usury Bank (NubankCo.) definition.</p> <p><strong>JEL</strong>:L86 ,L87 ,G21 ,G24</p> <p><a href="#_ftnref1" name="_ftn1">[1]</a> - This invention has been protected by US patent law under the application number: US 12/588,188</p> 2019-06-08T12:15:06+06:00 ##submission.copyrightStatement## Insurance Products in Rastin Profit and Loss Sharing Banking 2019-07-06T11:52:44+06:00 Bijan Bidabad <p><strong>Purpose: </strong>This paper aims to explain new insurance products and policies in Rastin Profit and Loss Sharing (PLS) Banking. Rastin Banking is a full Islamic Banking System with all necessary parts for banking operations that can be installed in conventional and Islamic banks both. In this paper, we are going to explain the milestones of new insurance products and policies.</p> <p><strong>Design:</strong> Rastin Banking complies with the nature of the intermediary financial activity and has a new type of banking operations. The systems and instruments of this type of banking have different risk treatments, and new insurance policy and measures should be defined to cover the risks of the operations In order to fulfill this goal, appropriate insurance policies are described.</p> <p><strong>Findings: </strong>Some new insurance products are defined such as Certificate Insurance, Insurance of Market Value of Certificate, Responsibility/Engineering Insurance, Insurance of Accidents Concerning the Article of Sharing, Collateral Insurance, Loss Margin Insurance, Profit Margin Insurance, Merchandise Transportation Insurance, Production Equipment and Installations Insurance, Product Quality Insurance, Insurance of Commodity under Production, Inventory Insurance, Production Limited Loss Insurance, Transaction Limited Loss Insurance to handle Rastin Banking.</p> <p><strong>Research limitations: </strong>Many of these insurance policies are new and require more elaborations for further practical development and adjustment.</p> <p><strong>Practical implications: </strong>These insurance products can be used both in Rastin Banking operations as well as conventional business and finance arrangements. These insurance policies have no conflict with indisputable legal principles, and insurance companies can supply these insurance products based on their own actuary calculations.</p> <p><strong>Social implications: </strong>The introduced insurance policies actually change profit and loss sharing activity to just profit sharing.</p> <p><strong>Originality/value: </strong>Approach of this system and the designed insurance policies is entirely different and new.</p> 2019-06-28T00:00:00+06:00 ##submission.copyrightStatement##