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1 – 10 of 20Syed Marwan Mujahid Syed Azman, Suhaiza Ismail, Mohamed Aslam Haneef and Engku Rabiah Adawiah Engku Ali
The objectives of this paper are two-fold: first, to empirically compare and contrast the salient features of three financial instruments (FIs), namely sustainable and responsible…
Abstract
Purpose
The objectives of this paper are two-fold: first, to empirically compare and contrast the salient features of three financial instruments (FIs), namely sustainable and responsible investment (SRI) ṣukūk, social impact bonds (SIBs) and conventional bonds (CBs) and second, to examine the differences between the perceptions of the investors and the developers on the features of the three FIs.
Design/methodology/approach
Using a questionnaire survey, 251 completed and useable responses were received, representing a 42.54% response rate. In examining the differences and similarities in the characteristics of the three FIs, the inferential statistical of frequency and percentage were used. Wilcoxon and Mann–Whitney tests were conducted to investigate the differences in the salient features of the three FIs and the differences between the investors and developers' perceptions on the salient features of SRI ṣukūk, SIBs and CBs, respectively.
Findings
The results reveal that stakeholders view SRI ṣukūk, SIBs and CBs to be statistically significantly different from each other. This shows that stakeholders do not view SRI ṣukūk as “old wine in a new Sharīʿah-compliant bottle” but instead considered different from SIBs and CBs. Furthermore, stakeholders also differentiate between SIBs and CBs.
Originality/value
The paper provides empirical evidence that Islamic finance (IF) instrument, represented by SRI ṣukūk, is viewed as different instruments to conventional tools, represented by SIBs and CBs. First, it debunks the notion that IF is viewed as similar to its conventional counterpart. Second, SIBs are seen as different from CBs, illustrating the distinct categorisation of impact investing instruments. As such, third, the development of SRI ṣukūk and SIBs can provide diversification to portfolios as it is a unique instrument in the social finance and financial market.
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Guido Veronese, Anas Ismail, Fayez Mahamid, Basel El-Khodary, Dana Bdier and Marwan Diab
This study aims to explore the effect of mental health in terms of depression, anxiety, stress, fear of COVID-19 and quality of life (QoL) on the reluctance to be vaccinated in a…
Abstract
Purpose
This study aims to explore the effect of mental health in terms of depression, anxiety, stress, fear of COVID-19 and quality of life (QoL) on the reluctance to be vaccinated in a population of Palestinian adults living in occupied Palestinian territories and Israel.
Design/methodology/approach
The authors recruited 1,122 Palestinian adults who consented to participate in the study; 722 were females, and the mean age of the sample was 40.83 (SD 8.8). Depression, anxiety, and stress scale (DASS), World Health Organization QoL-BREF, FCov-19 and reluctance to the vaccine scale were administered; hierarchical regression analysis was applied to test vaccine reluctance as a dependent variable, and mental health, fear of COVID-19 and QoL as independent variables. This study hypothesized influence of such variables on the vaccine choice with differences due to the participants’ geographical locations.
Findings
Findings showed an effect of mental health, particularly depression, QoL and fear of COVID on vaccine reluctance, with depression and fear of COVID in the West Bank and Gaza, while in Israel, QoL played a role in vaccination choices.
Research limitations/implications
The future needs to be comprehended more thoroughly to discover mutations and fluctuations over time in vaccine hesitancy and the increasing role of psychological distress, diminished QoL and fear of Covid-19. Online recruitment might not have allowed the study to include the most disadvantaged strips of the Palestinian population.
Practical implications
Human rights perspectives must be considered in public health and public mental health policies to ensure the QoL and well-being for the Palestinian population during and following the pandemic.
Social implications
The crumbling of the Palestinian health-care system exacerbated the sense of dread among the population and made them less likely to vaccinate. The pandemic-like spread of Covid-19 prompts a plea for the global community to actively advocate for the urgent re-establishment of equity, autonomy and durability of the medical infrastructure in the occupied territories and equal entitlements for the Palestinians in Israel.
Originality/value
The results demonstrated the importance for public mental health to consider the multiple levels implied in the vaccine refusal in Palestine and Israel among the Palestinian population.
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This research mainly aims to shed light on sustainable development in Syrian higher education during the Syrian crisis.
Abstract
Purpose
This research mainly aims to shed light on sustainable development in Syrian higher education during the Syrian crisis.
Design/methodology/approach
In this research, the authors mainly study sustainable development in the Syrian Arab Republic through the bibliometrics data of universities and research centres in Syrian Arab Republic, where these data are related to sustainable development. Also, the authors study the strategies used in the university with the largest research output of sustainable development in the Syrian Arab Republic. The authors extract research data arranged in sustainable development goals in the Syrian Arab Republic from SciVal database.
Findings
Based on the bibliometric data on sustainable development research in the Syrian Arab Republic, the authors find that universities and research centres in the Syrian Arab Republic have taken important steps towards the goals of sustainable development, especially in the year 2022. The authors also find that the University of Damascus had the largest share in research related to the goals of sustainable development, and the authors find that this is due to the strategies taken by the University of Damascus towards the goals of sustainable development, such as the policy of digital transformation, the policy of recycling and the increase of green areas in the university.
Originality/value
This study is the first of its kind to study the goals of sustainable development in Syrian higher education during the Syrian crisis period.
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Syed Marwan and Mohamed Aslam Haneef
The purpose of this paper is to examine the world’s first social impact bond (SIB) and the lessons that can be learned for the Islamic finance industry to fulfil its true…
Abstract
Purpose
The purpose of this paper is to examine the world’s first social impact bond (SIB) and the lessons that can be learned for the Islamic finance industry to fulfil its true objectives.
Design/methodology/approach
The Peterborough SIB was recently announced to be successful in achieving its targeted social and investment outcomes, reducing recidivism by 9 per cent and paying back investors a 3 per cent pa return. The paper compares Peterborough SIB with socially responsible investment (SRI) sukuk in terms of form and substance, and finds that there are various lessons from the Peterborough SIB that can be useful for future development of Islamic financial products.
Findings
Innovative social financial tools such as SIB exemplify the true spirit of risk sharing and social responsibility, which is arguably missing in current practices of the Islamic finance industry. With the growing interest towards SRI strategies and increase in socially motivated investors, such financial tools may not only help the sustainable growth of the Islamic finance industry, but also fill in the gap between its theory and practice.
Practical implications
As such, the paper also proposes a social impact sukuk model which integrates the key aspects learned from Peterborough SIB. This includes prioritising social impact, measurable success indicators, data and management systems, flexible contracts, third sector integration, risk sharing and fostering the culture of innovation.
Originality/value
The findings can offer some practical insights in dealing with the issue of Islamic finance practice being overly concerned with its formal adherence with Islamic legal rules whilst neglecting its true fundamental values.
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Johanna Sumiala, Katja Valaskivi, Minttu Tikka and Jukka Huhtamäki
Tianliang Wang, Ya-Meng He, Zhen Wu and Jun-jun Li
This paper aims to study the impacts of groundwater seepage on artificial freezing process of gravel strata, the temperature field characteristics of the strata, and the strata…
Abstract
Purpose
This paper aims to study the impacts of groundwater seepage on artificial freezing process of gravel strata, the temperature field characteristics of the strata, and the strata process, closure time and thickness evolution mechanism of the frozen wall.
Design/methodology/approach
In this paper several laboratory model tests were conducted, considering different groundwater seepage rate.
Findings
The results show that there is a significant coupling effect between the cold diffusion of artificial freezing pipes and groundwater seepage; when there is no seepage, temperature fields upstream and downstream of the gravel strata are symmetrically distributed, and the thickness of the frozen soil column/frozen wall is consistent during artificial freezing; groundwater seepage causes significant asymmetry in the temperature fields upstream and downstream of the gravel strata, and the greater the seepage rate, the more obvious the asymmetry; the frozen wall closure time increases linearly with the increase in the groundwater seepage rate, and specifically, the time length under seepage rate of 5.00 m d−1 is 3.2 times longer than that under no seepage; due to the erosion from groundwater seepage, the thickness of the upstream frozen wall decreases linearly with the seepage velocity, while that of the downstream frozen wall increases linearly, resulting in a saddle-shaped frozen wall.
Originality/value
The research results are beneficial to the optimum design and risk control of artificial freezing process in gravel strata.
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