Dr. Nedim Makarevic's book "Influence of IT on Security on Banks' Competitiveness " launched in Pakistan

Founder Editor Tazeen Akhtar..

Islamabad - Ambassador of Bosnia and Herzegovina Dr. Nedim Makarevic's book "Influence of IT on Security on Banks' Competitiveness " was launched here in Pakistan on July 9 ,in an impressive ceremoney that was attended by a large number of notables from all walks of life including diplomats, intellectuals, writers, think tanks, bankers, IT experts and industrielists of twin cities.

The study presents an empirical analysis about the dependence of competitiveness on IT Security in German banks.

377 Experts were involved in the survey. The different influences on IT Security are evaluated and combined in a theoretical model. The statistical analyses are done using structured equation modelling, which is very elaborated.

This book might be interesting especially for those, who are involved in strategic management, where issues on IT Security have to be discussed. This does not only strike banks, any company whose business models are highly dependent on IT Security, can be addressed by the findings.

 Have you ever asked yourself what is the connection between IT Security and banks’ competitiveness? This book gives you a direct answer from top level experts, which accumulated knowledge since years as project manager or senior consultant. The study reveals that IT Security has to be included into strategic planning, as it influences banks’ competitiveness. Secondly the knowledge about the impact of inner organizational factors on IT Security is interesting, allowing optimizations in performance and cost effectiveness.

The study summarizes the current available literature in this sector. Additionally a quantitative survey, including all relevant variables was conducted. It was sampled with a total of 377 experts who are employed in IT Security in banks or related sectors. This book is a must-read for each bank and everyone who deals with IT Security issues in Strategic Management. It offers precise mathematical statements about the dependencies which are essential for all decision makers of banks in highly volatile financial markets. It is a CEO/DG must!
The News published a report in this regard that says, the book gives an insight into ways which can help banking sector tighten its security for online transactions and curb cyber crimes.

Bosnian ambassador who is a PhD Doctor hosted a simple Iftar party on Wednesday to launch his book where bankers, ambassadors and IT specialists were invited to share their views on his book.

 The book sheds light on various aspects of Information Technology (IT) security system of banks which have been facing incidence of cyber crime across the world.

 In his brief remarks the ambassador said, “we need nice and strong security process which could help banks increase their competiveness and increase their clientele.”

 He said the main point was that how a bank put in place its IT security which breeds confidence in its customers.

 Senior Vice President of UBL on the occasion said Bosnian envoy had pinpointed some important variables like human resource, IT security and risk while doing banking business and this book could be useful for banking industry for making its services more secure.

 A professor of Comsats Dr. Fahad said stealing money from peoples bank accounts was a serious cyber crime hence customers have concerns about privacy of their accounts.

Many people have lost money due to ATM scams so there was a huge need to do more research in this area and the Bosnian ambassador had made an effort to detail how cyber crime could be prevented by enhancing IT security in banking system, he said.

Fahad added that in days ahead cyber attacks would become more sophisticated which necessitated research into the field.

The Co-Chairman of Universal Sufi Council Peer Syed Mudassir Nazar Shah appreciated research of the Bosnian ambassador in IT and emphasized the need to further cement Pak-Bosnia relations. He announced that his organization would be donating fifty ambulances to the Bosnian government and would also set up an English Language Institute for the help and assistance of the Bosnian youth. ENDS

About the Author

Dr. Nedim Makarevic studied Engineering Sciences in Germany and obtained a Doctor of Business Administration. He published articles on IT Security in several indexed journals worldwide. He worked as senior consultant for Sanofi-Aventis, VW, Audi, Daimler-Benz, and many others. Professor at European Education Group. Appointed as Ambassador in 2013.