Development and breakthrough of information and communication technologies in all spheres and aspects significantly changed the way of conducting business. Digital transformation is not an option for organizations, no matter of their size, industry, maturity, number of employees, customers and so on. In order to survive and stay competitive in digital age, organizations need to be agile, flexible, ready to adjust on rapid changes in the business environment and create new values for customers. Traditional banks recognized all benefits and potentials reflected in usage of new digital technologies. Their focus is shifted on simplification of providing service on anytime in any place to potential customers. Through adoption of Big Data concept and customer-centric approach, banks are among those organizations which widely use new technologies in digital age with the aim to create and sustain competitive advantage. Banking industry is obviously changed and significantly reshaped by digitalization process. In this paper is presented the case of DBS bank from Singapore, which made an extraordinary turnover in its business toward digital transformation and positioned itself as the leading digital bank in the world..
Central Bank digital currencies are a digital challenge to the international monetary and financial system. Since the development of cryptocurrency, such as bitcoin, the modern world has faced the possibility of digital technological transformation and providing a digital form of payment for the economy and the household. In addition, the announcement of a digital currency that would have a global reach, such as the Libre issued by the social network Facebook, raised questions about legal and regulatory safeguards, financial stability, and the role of the digital currency in society. All this influenced the leading central banks to recognize the need to conduct a detailed analysis of the possibilities of issuing digital currency of the central bank, which would be a supplement to the cash and non-cash form of payment. These analyzes include considering the advantages and disadvantages of that currency, determining its design and technological solution, as well as the necessary regulatory adjustments. In the coming period, we will witness a technological transformation in the operations of central banks, which, as before, should take care of preserving price and financial stability as its main goals, but also respond to new challenges of digital business.
Public debt management represents an important part of public finance in each economy and in most countries is in administrative authority within the Ministry of Finance. The Public Debt Administration is the holder of public debt policy, presenting one of the most important branches of macroeconomic policy and has stabilization and developmental function. The Public Debt Management determines the schedule, scope and currency structure of the security issuance in the domestic and international financial markets and directly affects the level of indebtedness of the country and the level of foreign exchange risk. The main objective of public debt management is to ensure that the government’s financing needs and its payment obligations are met at the lowest possible cost over the medium to long run, consistent with a prudent degree of risk. Adequate public debt management is crucial in view of the severe macroeconomic consequences of non-enforcement of public debt and the potential expansion of instability to other sectors in an economy. All this indicates the need for an adequately setting up current and future public debt management strategy and the development of instruments to reduce borrowing costs and foreign exchange risk levels. The aim of this paper is to present public debt management in selected Central East Europe countries (Serbia, Hungary, Croatia, Albania and Slovenia) and to recommend further improvement of its public debt strategies.
Monetarni odbor Narodne banke Srbije usvojio je u decembru 2008. Memorandum o ciljanju (targetiranju) inflacije kao monetarnoj strategiji, kojim se definiše formalna primena režima inflacionog targetiranja od 1. januara 2009. godine. U skladu sa tom monetarnom strategijom Narodna banka Srbije je uvela rukovođeno plivajući devizni kurs. Ovaj režim deviznog kursa znači da se kurs formira slobodno, pod uticajem ponude i tražnje na međubankarskom deviznom tržištu, a da Narodna banka Srbije primenjuje devizne intervencije kako bi sprečila preterane kratkoročne dnevne oscilacije kursa dinara u odnosu na evro. Postupajući na taj način centralna banka nastoji da postigne i očuva finansijsku i cenovnu stabilnost i relativnu stabilnost kursa dinara. Na kretanje vrednosti kursa dinara u odnosu na evro utiču faktori domaćeg porekla, poput aktivnosti domaćih i stranih preduzeća i banaka, ali i eksterni faktori, poput uticaja mera glavnih globalnih centralnih banaka, geopolitičke tenzije i promene cene nafte i ostalih proizvoda. Cilj rada je da predstavi način funkcionisanja deviznog tržišta u Srbiji, vrste tranksacija, sistem izveštavanja, način formiranja i objave zvaničnog srednjeg kursa dinara u odnosu na evro, vrste deviznih intervencija i instrumente zaštite od deviznog rizika.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.