Piotr Masiukiewicz

The article concerns the responsibility of financial institutions, primarily banks, for sustainable development and pro-ecological activities. The aim of the presented study is to identify the scope of activities of financial institutions in the field of sustainable development. What roles could banks have in contributing to sustainable development by offering socially responsible financial products? The authors conducted both quantitative research on a random group of Polish managers and a Delphi study on a group of several dozen experts, former members of the government, and bank presidents. The main results of the research indicate a 78% support among Polish managers for the activities of enterprises in accordance with the principles of sustainable development. More than 60% of the experts surveyed said that offering socially responsible financial products by banks is a growing trend in the economy. Moreover, two-thirds of the study’s participants think that such products are to be characterized by lower fees and margins than other standard financial products. Examples of the most frequently mentioned and expected products include those related to the development of green energy and eco-innovations or waste disposal. The results of the conducted research clearly indicate the need for financial institutions or banks to offer socially responsible financial products, which should become a part of their development strategies.

The paper deals with the problems of public and legal burdens of cooperative banks operating in Poland, in terms of their limits on the strength of taxes (various types of mandatory fees and levies for the state). Comparative public and legal burdens of banks are discussed in the literature. As the main research goal, the authors chose to examine the situation of cooperative banks in the context of increasing tax and legal burdens. The article uses the desk research method, comparative method and quantitative analysis of cooperative banks’ tax burden for calculating the author’s tax restrictiveness index. The authors proposed their own definition of the tribute paid by cooperative banks to the state and institutions subordinate to it. An interesting perspective on the subject of effectiveness of cooperative banks in comparison with their tax burden was analyzed. The paper also exposes the methodology of examining public-law burdens in cooperative banks and conducted a stress limit analysis for these burdens (tributes) on the example of 309 banks – participants of the Association Protection System – SOZ BPS. It is important to point out that the tax restrictiveness index (WD) in the studied group of cooperative banks was calculated. A new concluding case on problems related to further raising the tax burden of cooperative banks in Poland was also presented.

The development of Islamic finance, their crisis-resistance and possibilities for using experience of this sector in conventional banking industry are being subject of studies in many countries, also non-Muslim ones. In this paper the author presented the analysis of Islamic finance development and its determinants basing on examples from Europe. Such banks and investment funds have a growing share in European markets, which is confirmed by the latest EY’s data. Main obstacles to Islamic finance development include, among others: incompatibility of legal regulations in non-Muslim countries, low demand among Islamic diaspora in Europe, shortage of qualified Sharia scholars, unsatisfactory standardization of Islamic financial products and accounting policies. International Islamic finance institutions (incl. AAOIFI and IFSB) play a significant part in overcoming them. Particularly beneficial legislative changes were introduced in Luxembourg, Germany, Russia and in the United Kingdom. Emerging of other Islamic banks, increase in number of Islamic windows in traditional banks and further development of Islamic investment funds in Europe are to be expected.

The important area of customers’ protection it is decided of prices. Law strict injunctions of application of some specific types of prices existence in all development countries. Bans on certain categories of prices are present in legal systems of all developed countries; UE directives and OECD guidelines contain bans on price discrimination through dumping, price fixing cartels or transfer price fixing. In this paper are showed the institutional models of customer’s protection in area of prices in credit institutions (f.e. interest rate). In the area of financial services the prices have specific character, f.e. reference prices, preferential prices, compound prices, risk of a price change, different prices for the same product, payment by instalments. Contrary to the rules are showed in case study of banking market in Poland. Law regulations of interest rate are much wider applied than prices regulations on the other markets. The development of protection institutions of customers in the banking market influenced more compliance law and ethical rules in price proceeding. Bad more education of customers it’s necessary. One of the misgivings signaled by banks is growing restrictiveness of regulations on consumer protection, which should become a subject of in-depth research.

Prezentowany artykuł dotyczy problemu występowania paniki klientów w bankach na świecie. Zjawisko to po ostatnim kryzysie finansowym zdecydowanie się nasiliło, stąd celowym wydaje się podjęcie próby analizy tego tematu. Problem zarządzania paniką w bankach czy na rynkach finansowych jest niezwykle złożoną kwestią wymagającą zarówno ujęcia teoretycznego, jak i praktycznego. Autorzy podjęli próbę scharakteryzowania paniki jako zjawiska socjoekonomicznego. Poddali analizie behawioralne aspekty paniki i instrumenty jej dezaktywacji. Ponadto opisano przykłady runu na kasy w Europie. Przeprowadzone badania pokazały nie tylko złożoność problemu, ale również skuteczność i zawodność pewnych instrumentów ograniczających, czy wręcz likwidujących, panikę na rynku.

This paper focuses on the analysis of comparative models bankruptcy in selected EU countries and the evaluation of the effectiveness of the insolvency proceedings. These models are quite similar in the countries concerned; also they give the opportunity to the many variants of the bankruptcy procedure. The main thesis of the article is—so far developed and applied models of bankruptcy are still insufficient and need to be improved and reorientation to a greater extent, particularly concerning the taking into account of weak signals from the business environment. The authors analyzed the relevant theories of the firm and its reference to bankruptcy, presented various models of insolvency procedures in selected EU member states, analyzed the so-called European Company for bankruptcy. Complementing the paper detailed research on the effectiveness of insolvency proceedings in many countries. Included in the text of the conclusions show the shortage of both in theory and in practice, a comprehensive solution to the problem of insolvency proceedings.