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The purpose of this paper is to investigate the strategic intelligence oversights with regards to the funding of terrorism.

The paper considers the modus operandi of terrorist financing, and how and how speedily or otherwise they were identified, and the international and national anti‐terrorist financing measure implemented post 9/11.

The paper concludes that there were (and still are) strategic oversights, delays and distractions by government law enforcement and financial regulatory agencies in combating terrorist financing.

The paper suggests there should be more proactive exchange of intelligence by law enforcement and financial regulatory agencies in combating financing of terrorism.

The added value is lessons learned in international efforts against financing of terrorism.

This paper aims to explain the importance of the international cooperation and coordination among supervisory authorities of different countries in event of banking crises. It also suggests that the harmonious relationship has to be attained in the adoption of ex ante financial regulatory measures and ex post compensation schemes. In other words, the paper highlights the linkage between ex ante preventive regulatory measures and ex post compensation schemes, on the one hand, and cooperation among national regulatory and supervisory authorities in globalized financial markets. Although the paper is relevant to most developed and emerging financial markets, it chooses Hong Kong as a context to examine this proposal. In the current literature, there are no similar approach linking these two paradigms and examining them in an integrated context.

The paper adopts a conceptual framework after the 2008 global financial crisis and takes Hong Kong, an international financial centre in which numerous branches or subsidiaries of foreign financial institutions locate, as an example to examine how the coordination with foreign supervisory authorities are being conducted and to analyse whether the present regulatory framework in Hong Kong is effective and sufficient against banking crises. Through the review of the literature, the important link between ex ante regulatory measures and ex post compensation schemes is found to be significant in adopting proper solutions.

Through analysing the Hong Kong financial regulators’ reports on the collapse of Lehman Brother, the paper finds out that even though there is some weakness in the cooperation and coordination between regulators after the 2008 financial crisis, Hong Kong is still in the progress of proposing bank special resolution regime. Although there has been some awareness on the issue of coordination between home and host states regulatory measures, there is still a lack of awareness of the connection between regulatory measures and compensation schemes.

Conflict of interests could hardly be prevented in the course of cooperation and coordination among home and host regulatory authorities, and the coordination of the important link between ex ante regulatory measures and ex post compensation scheme which involves legal and economic analyses is a challenging task.

The paper’s findings show that there are practical implications for the recent rapid development of special resolution regime for global systematically important financial institutions against future banking crises and for managing the balance between the adoption of financial supervisory laws and special resolution measures.

This paper suggests that the harmonious coordination between ex ante regulatory measures and ex post compensation schemes has to be achieved through international context to avoid the absurd situations. This conceptual integrated framework presented in the current paper is not touched upon by the existing literature. This important concept is valuable for future research, and it is significant to financial regulators, legislators and the government in adjusting policy against banking crises in both developed and developing countries.

Motivated by recent financial liberalization policies in emerging markets, this study investigates whether bank competition and regulatory capital affect bank risk taking in an international banking context.

Bank competition is regressed, using GLS regression, on various measures of bank risk, to reflect regulatory, accounting and market-based risk-taking. The authors use a sample of publicly traded banks operating in Africa during 2004–2019.

Results show that higher level of bank competition increases bank risk taking and results in greater financial fragility in the absence of banking capital regulations. Furthermore, larger capital adequacy ratios control the risk-taking incentives of managers and guard banks against the risk of default. Further tests confirm the significance of market-based risk measures over accounting and regulatory measures.

Findings are relevant to bank managers and regulators in their sustained effort of finding an optimal balance between bank competition and financial stability. Increased competition should be balanced with capital regulations to curtail bank excessive risky behavior and derive the social benefits of greater competition in the market while sustaining overall economic growth.

This study provides novel evidence in an international context. First, it uses regulatory, accounting and market-based measures of bank risk taking to reflect regulators', management and market participants' emphasis. Another original contribution is the investigation of bank competition across African economies characterized by financial liberalization, stringent banking system and interesting socio-economic challenges.

This paper aims to critically analyse the evolving anti-money laundering (AML) and counter-terrorism financing (CTF) framework in Saudi Arabia, focusing on the intersection of Shari’ah and international AML standards. The study explores Saudi Arabia’s efforts to combat money laundering (ML) and terrorism financing (TF) within its global engagement, assessing the challenges and opportunities posed by emerging financial technologies and transnational financial crime.

The research uses a legal doctrinal analysis of Saudi Arabia’s AML/CTF laws, integrating a review of FATF reports, international guidelines and Shari’ah-compliant financial regulations. The study also evaluates Saudi Arabia’s participation in international AML/CTF cooperation efforts, drawing on case studies of the country’s involvement in global initiatives and bilateral agreements. In addition, the research examines policy recommendations and explores the role of new financial technologies, such as cryptocurrencies and blockchain.

Saudi Arabia has made significant progress in aligning its AML/CTF framework with global standards, particularly following its full membership in the FATF. However, challenges remain, especially in addressing vulnerabilities within non-financial sectors and regulating emerging financial technologies. The study finds that integrating Shari’ah into the country’s AML/CTF system enhances cultural and religious relevance while contributing to global compliance efforts. International cooperation and technology adoption are essential for staying ahead of evolving threats.

This study uniquely examines the interplay between Shari’ah and global AML standards in Saudi Arabia, offering insights into how religious principles coexist with international regulatory requirements. It also addresses the rising challenges of cryptocurrencies and blockchain, providing actionable policy recommendations for policymakers and financial institutions to enhance Saudi Arabia’s AML/CTF efforts. The research highlights Saudi Arabia’s role as a regional leader and global contributor to financial crime prevention.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

This experimental study investigates the connotative (measured) meaning of the concept “auditor independence” within three audit engagement case contexts, including two acknowledged in the literature to represent significant potential threats to independence. The study’s research design utilises the measurement of meaning (semantic differential) framework originally proposed by Osgood et al. (1957). Findings indicate that research participants considered the concept of independence within a two factor cognitive structure comprising “emphasis” and “variability” dimensions. Participants’ connotations of independence varied along both these dimensions in response to the alternative experimental case scenarios. In addition, participants’ perceptions of the auditor’s independence in the three cases were systematically associated with the identified connotative meaning dimensions.

The anti-money laundering (AML) frameworks of many countries were generally influenced by the international best practices of money laundering that were first established in 1988 through the Basel Committee on Banking Supervision (BCBS). The general belief is that these international best practices are applicable in all jurisdictions, although most countries are still affected by money laundering. The international best practices are universal measures that were developed as a yardstick to control and curb money laundering globally. Nonetheless, international best practices for money laundering are not tailor-made for specific jurisdictions and/or countries. Therefore, it remains the duty of respective jurisdictions and/or countries to develop their own context-sensitive AML measures in accordance with international best practices. An overview of the AML international best practices that were developed and adopted by several countries are analysed in this paper. These include customer due diligence measures established by the BCBS, the financial action task force (FATF) standards, as well as the ongoing monitoring and the risk-sensitive approach that were implemented to curb money laundering globally.

The article analyses the AML international best practices that were developed and adopted by several countries. These include customer due diligence measures established by the BCBS, the FATF standards, as well as the ongoing monitoring and the risk-sensitive approach that were implemented to curb money laundering globally.

It is hoped that policymakers and other relevant persons will use the recommendations provided in the paper to enhance the curbing of money laundering in financial institutions globally.

The paper does not provide empirical research.

The study is useful to all policymakers, lawyers, law students and regulatory bodies globally.

The study seeks to curb money laundering in the economy and society globally.

The study is original research on the use of AML/counter financing of terrorism international best practices to curb money laundering activities globally.

This study explores the interrelationship between regulatory risks and strategic controls within the financial supervision architecture of an emergent global financial centre of China that embraces innovation as part of its strategic objectives.

This paper employs a longitudinal case study approach to examine the institutional dynamics of the key financial regulators in connection with the regulated financial institutions in Hong Kong before and after the financial tsunami of 2008.

First, this study reveals an organic development of a specialised financial regulatory architecture that resists transforming itself structurally despite the significant impact of externalities. Second, in this post-financial crisis analysis, regulated financial institutions swiftly respond by strengthening their risk controls through compliance with the guidelines imposed by the regulator. Institutional dynamics in influencing the implementation of risk controls through a top-down interactive mechanism are observed. Such dynamic and pertinent rapid responses induce the pursuit of optimal risk management within a regulatory framework.

This paper provides a longitudinal case study to reveal regulatory risks and strategic controls of the global financial centre of China. It unveils mitigating risk control measures in the aftermath of the global financial crisis. The study demonstrates how regulatory institutions strive to take precautionary, coercive measures such that the regulated institutions mimic and implement prudent mechanisms.

The State of Kuwait operates a US$110bn economy and serves as an integral part of the global energy trade, holding over 9% of the world’s oil reserves. In addition, Kuwait is making attempts to open its economy, working towards domestic diversification. This paper aims to understand Kuwait’s internal financial protection mechanisms and their compliance to international standards. It is imperative to understand Kuwait’s legal and regulatory system that combats money laundering and terrorist financing concerns, which further extends to the region’s security discourse. This paper focuses on the State of Kuwait’s internal efforts to propel anti-money laundering/combating terrorist financing (AML/CTF) measures, and further evaluate these measures with respect to international evaluations.

Anti-money laundering and combatting terrorist financing mechanisms require a layered analysis to understand the legislative and bureaucratic organization of enforcement. Further, these measures, taken within the domestic framework, must be compared to international standards, and thus taken into account by observers. This paper studies Kuwait AML/CTF mechanisms by studying the country’s legislation, regulation and implementation. The country’s legislation will offer insight into the basic foundation of the country’s stance against money laundering and terrorist financing. Kuwait’s regulation against money laundering/terrorist financing (ML/TF) will represent the enforcement mechanisms and risk-assessment tools mandated by the independent regulatory authorities. Finally, the country’s enforcement levels will provide a deeper understanding of the country’s systemic approach to successfully combatting ML and TF activities. In addition, this paper also studies international evaluations that present an independent and factual view regarding Kuwait’s AML/CTF structure and its implementation.

Following a thorough examination of primary and secondary literature, this paper finds the State of Kuwait to have taken significant steps in implementing recommended legislative and regulatory mechanisms. The paper found significant strategic deficiencies within internal mechanisms pre-2014, which have been largely resolved in the state’s ex post approach to the Financial Action Task Force’s recommendations. There is also evidence of an improving enforcement mechanism in the state’s recent efforts in reducing exposure to ML and TF risks. However, the paper finds certain “strategic deficiencies” within the country’s internal reporting and external publishing administration.

The State of Kuwait is an important member in the route to regional stability and security in the Middle-East and Arabian Gulf region. Kuwait’s northern border abuts with Iraq, and connects the country with the rest of the Middle-East. The upward regional instability could create internal security risks for Kuwait. In addition, the State of Kuwait has taken the onus, in addition to the Sultanate of Oman, to mediate the diplomatic lapse between members of the Gulf Cooperation Council. The aforementioned positions ascertain a need to examine, and further recommend measures that promote a strong regional financial system.

This paper finds the government of Kuwait to have taken major steps to create a framework that is parallel to international standards. However, there have been significant delays in activating and implementing several regulatory procedures. The delay of certain procedures has since been rectified by the state. This paper presents a comprehensive qualitative analysis of the country’s legislative, regulatory and enforcement structures and further evaluates the internal performance.