Big data analytics and artificial intelligence are revolutionizing the global healthcare industry. As the world accumulates unfathomable volumes of data and health technology grows more and more critical to the advancement of medicine, policymakers and regulators are faced with tough challenges around data security and data privacy. This paper reviews existing regulatory frameworks for artificial intelligence-based medical devices and health data privacy in Bangladesh. The study is legal research employing a comparative approach where data is collected from primary and secondary legal materials and filtered based on policies relating to medical data privacy and medical device regulation of Bangladesh. Such policies are then compared with benchmark policies of the European Union and the USA to test the adequacy of the present regulatory framework of Bangladesh and identify the gaps in the current regulation. The study highlights the gaps in policy and regulation in Bangladesh that are hampering the widespread adoption of big data analytics and artificial intelligence in the industry. Despite the vast benefits that big data would bring to Bangladesh's healthcare industry, it lacks the proper data governance and legal framework necessary to gain consumer trust and move forward. Policymakers and regulators must work collaboratively with clinicians, patients and industry to adopt a new regulatory framework that harnesses the potential of big data but ensures adequate privacy and security of personal data. The article opens valuable insight to regulators, academicians, researchers and legal practitioners regarding the present regulatory loopholes in Bangladesh involving exploiting the promise of big data in the medical field. The study concludes with the recommendation for future research into the area of privacy as it relates to artificial intelligence-based medical devices should consult the patients' perspective by employing quantitative analysis research methodology.
Presently, there is little focus on the contractual agreement, particularly on the production sharing agreement by the International Oil Companies in the exploration of petroleum resources of developing countries. The primary objective of this paper is to critically explore the contract structure of production-sharing agreements by International Oil Companies in the exploration and development of petroleum resources in developing countries. Content analysis was used as the methodology of the study after examining several literatures. The findings indicate that the contract structure of the production sharing agreement (PSA) between National Oil Companies (NOC) and International Oil Companies (IOC) plays a significant role in the cost and risk of exploration and development of oil. In addition, it is noted that the joint committee of the NOC and IOC plays a paramount role in monitoring the operations of PSA between the NOC and IOC. Hence, from the gross oil production, the NOC gets its share as profit while IOC gets its share income tax. As an instrument of contract structure in the oil and gas sector, PSA needs further entrenchment between IOC and NOC to avoid likely issues that can emanate between the two parties in the face of current developments.
The paper shows that Islamic securitization through Sukuk securities is vital in fostering the Islamic capital market. Sukuk investments entail investors and issuers to follow a set of nuanced moral and ethical principles beyond maximizing profit. As measured by social trust, investor trust could be critical in the worldwide Sukuk investment boom. Therefore, the primary objective of the article is to demonstrate the impact of Islamic securitization through the Sukuk bonds in guaranteeing investment in the Islamic capital market. The study employs a systematic literature review and qualitative research methodology based on secondary data to achieve the purpose of the study. The finding of the study indicates that despite all the obstacles in slowing the progression of the Islamic capital market, it manages to develop gradually worldwide. Further, concerning class flow and risks, Sukuk is similar to conventional bonds, but certain characteristics of the Sukuk bond make it a reliable instrument in the Islamic capital market.
Purpose The purpose of the study is to show that divergent perceptions among regulators, the regulated and the associated regulatory bodies across multiple jurisdictions regarding the nature and functionality of cryptocurrencies hamper the development of a more comprehensive and coherent regulatory framework in curbing crimes and other related risks associated with cryptocurrencies. Design/methodology/approach The study has used a descriptive doctrinal legal research method to investigate and understand the insights of existing laws and regulations in four selected jurisdictions concerning cryptocurrencies and how these laws could be further improved and developed to reduce crypto-related crimes. Furthermore, the study has also used a comparative research method to conceptualize the contours of the new legal discourse emerging from cryptocurrencies to adopt and implement a sound regulatory framework. Findings The study illustrated that divergent regulatory treatment among different jurisdictions might suffocate novel digital innovations such as cryptocurrency. These fragmented regulatory approaches by various jurisdictions question the sustainability of the present national legislation adopted to regulate cryptocurrencies. Looking into other jurisdictional developments in regulating cryptocurrencies, it is apparent that a concerted regulatory approach is needed to minimize the abuse of this innovation. Research limitations/implications The study has implications for regulators and policymakers to review the current regulatory framework for regulating cryptocurrencies to prevent regulatory arbitrage. The divergent legislative measures concerning cryptocurrency among different jurisdictions question the sustainability of these legislative initiatives, considering the evolving and borderless nature of cryptocurrency. Therefore, this paper will help regulators to consider the present legislative gaps in establishing a common global regulatory approach in the crypto sphere. Originality/value The study contributes to the existing body of literature by examining the regulatory frameworks of four jurisdictions, namely, the USA, Canada, China and the EU, related to cryptocurrencies, with a discussion on the development of cryptocurrencies-related laws among these four jurisdictions and their sustainability in curbing crimes in the Darknet.
• The application of artificial intelligence (AI) has transformed the existing notion of the health care system. The concept of AI is not new, but increasing computational power and big data, the Internet of Things, and advanced analytical power ushers in new opportunities to realize the full potential of AI. Recently, there has been an increased application of AI in the health care system, potentially raising questions about patient safety, privacy, security, and confidentiality, specifically data protection. • The present study focuses on the effectiveness of the Malaysian data protection law in addressing the issue of health data protection in the wake of proliferated use of AI in the health care system. The Malaysian Personal Data Protection Act (PDPA) has to face challenges in applying AI because the data processing mechanism of AI has fundamentally challenged the adequacy and sustainability of present data protection principles and associated rights of individuals. • However, as nearly a decade-old law, the current PDPA requires some amendments to its provisions, for instance, the introduction of the mandatory requirement of data protection impact assessment and privacy by design for high-risk data (ie health data) processing and human involvement in automated decision-making process among others. Besides, ensuring more accountability and transparency on the part of the data users by introducing a comprehensive code of practice about the processing of health data would help data users comply with data protection legislation.
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