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This paper aims to provide a review of Anti-Money-Laundering (AML) after the latest amendments, i.e. Anti-Money Laundering Act of 2020 in Pakistan.

This paper performs a detailed review of AML and related laws and amendments to record notable changes and improvements in the recent amendments and drew a comparison among these legal amendments.

This paper finds that recent amendments are essential and judiciously crafted to cover the legal clinches, ensuring effective implementation of AML laws and positive expected outcomes for Pakistan.

This paper is unique in the context of the ongoing struggle against money laundering (ML) in Pakistan; covering the legal progress of Pakistan regarding ML, corruption and terrorism financing.

This paper aims to examine the impact of corruption and money laundering (ML) on the profitability and stability of Islamic banks.

This study used the data of 53 conventional and 19 Islamic banks of Pakistan and Malaysia to have comparative insights. The empirical methods include the fixed effect and random effect regression and generalized methods of moment for robust results.

The results indicate that Islamic banks gain from corruption and ML. Corruption and ML affect bank profitability and stability positively in a less corrupt environment, i.e. Malaysia; however, corruption hurts Islamic banks’ performance, and ML favours Islamic banking profitability and stability in a more corrupt environment, i.e. Pakistan.

The present study pioneers the debate on corruption and ML related to Islamic banking profitability and stability. This study provides important insights to regulators and Shariah advisors to build a real model of Islamic banking.

This paper aims to examine the impact of general elections on the stock returns of the politically connected group affiliated firms of Pakistan.

This study uses the market model to assess the impact of political connections (PCs) on abnormal stock returns, before and after election events. We have used share price data of non-financial firms of Pakistan for the years 2008-2013.

It has been found that behavior of cumulative average abnormal returns (CAAR) is significantly different for standalone and politically connected group affiliated firms. The results reveal that CAARs of politically connected group affiliated firms have experienced less deviation as compared to stand alone firms. Therefore, it is argued that politically connected group firms may reduce the impact of political uncertainty on stock returns in comparison to stand alone firms.

This study is helpful for policy regulators of Pakistan to devise appropriate policies to maintain a level playing field for politically connected and standalone firms.

This study provides a new dimension to understand the role and association of PCs and general elections with stock markets returns.

In the post-#MeToo movement era, heightened awareness regarding harassment at workplace has forced corporations to consider gender-based harassment as a serious issue. This study aims to theorise and test psychological capital as a resource reservoir to cope with burnout experienced in the form of emotional exhaustion, depersonalisation and reduced personal accomplishments as results of gender-based harassment at workplace.

Multi-wave data were collected from 304 female employees working in project-based organisations in the information technology industry in Pakistan.

The analysis shows contradictory findings about the prevalence of sexual harassment when a behavioural measurement approach was used against a direct query method. The results also show that gender harassment leads to burnout causing emotional exhaustion, depersonalisation and reduced personal accomplishment among the victims. However, psychological capital helps victims cope with these adverse effects of gender harassment.

Managers need to boost the psychological capital of female workers and devise effective policies to combat gender harassment in the workplace. Enforcement of legislation regarding harassment in the workplace should be ensured, which will also indicate seriousness towards the achievement of the United Nations’ Sustainable Development Goal No. 5, that is, gender equality.

To the best of the authors’ knowledge, this study is the first to present psychological capital as a resource reservoir to combat the negative effects of gender harassment and has been conducted in less studied non-Western work settings.

Using social exchange and power-dependence theories, this study advances the emergent debate on the dark side of leadership by examining the impact of despotic leadership style on employees’ supervisor-rated job performance, job satisfaction and turnover intention with individual-level power distance orientation as a moderator.

We collected multisource and time-lagged survey data in two waves from 65 leaders and 300 subordinates as paired responses working in different banks, telecom and IT companies.

It was found that employees’ exposure to despotic leadership harms their job performance and job satisfaction and has a positive effect on their turnover intention. In line with our prediction, low power distance orientation employees react more strongly to despotic leadership while high power distance orientation mitigates its effects on employee job outcomes.

Despotic behavioral tendencies must be taken into consideration while selecting and appointing leaders. Organizational leaders should also refrain from opportunistic and exploitative use of their followers' efforts.

This study adds to the emerging literature on the dark side of leadership by examining the relationship of despotic leadership style with employee job outcomes. The unique contribution of this study is the examination of individual-level power distance orientation as the boundary condition of these relationships.

The sustainable performance of manufacturing companies may commence with employees’ eco-friendly initiatives. The management is responsible for employee green initiatives, requiring the human resource department to develop and implement green strategies. Therefore, it is essential to investigate how green human resource management enhances sustainable performance among manufacturing personnel. This study aims to determine if the green knowledge management and green innovation of manufacturing employees serve as serial mediators in the relationship between green human resource management and sustainable performance. Additionally, if artificial intelligence facilitated the relationship between green human resource management, green knowledge management and sustainable performance.

The data were gathered from manufacturing firm managers and analyzed using partial least squares structural equation modeling.

The results indicated a notable and positive correlation between green human resource management and sustainable performance, green knowledge management and green innovation. Green knowledge management and green innovation exhibited significant positive correlations with sustainable performance. Additionally, green knowledge management and green innovation facilitated the connection between green human resource management and sustainable performance. This relationship was serially mediated by green knowledge management and green innovation. Furthermore, artificial intelligence moderated the relationship between green human resource management, green knowledge management and sustainable performance.

This study suggests that management can use study findings in decision-making to improve firms’ sustainable performance.

This study provides novel empirical evidence by investigating the mediation roles of green knowledge management and green innovation between green human resource management and sustainable performance through the lens of the natural resource orchestration theory.

This study aims to identify the causes of mental health issues faced by university librarians, to investigate the impact of mental health issues on the job performance of university librarians, and to know about the health activities to maintain mental and physical health.

The systematic literature review was applied as the research methodology. Forty-three research papers published in peer-reviewed journals were selected to conduct the study.

The findings of the study revealed that several factors including socio-economic conditions, work stress, stigma, constant fear, lack of self-efficacy, negative thinking, job security problems, strict organizational climate, poor human relations, lack of required job skills, chronic diseases and global pandemics cause mental problems in library professionals. Mental health issues have a negative impact on the job output of librarians. Different activities including emotional health training sessions, physical and mental exercises, social connections, membership of mental health centres, continuing professional development, and self-care training assist in the stability of the physical and mental fitness of librarians.

The study has a societal impact through the identification of different activities for maintaining mental health. It has offered theoretical implications for the investigators to further conduct studies in the area of mental health and librarians. It has also provided managerial implications for management bodies to take fruitful measures for the sound mental health of librarians so that they might carry out innovative library services.

Marketing investigations on the concomitant variables of both service quality and relationship marketing are very scarce. Hence, the purpose of this study is to examine the customers’ perception of the Takaful (Islamic insurance) in relation to service quality and relationship marketing. More importantly, the examination of the impact of both service quality and relationship marketing on corporate image is further established. Accordingly, corporate reputation and customer loyalty were further evaluated, along with these respective interactions.

A self-administered survey was conducted from 350 Malaysian customers of Takaful products and services. The purposive sampling was used to collect data from the existing customers of Takaful service operators in the Klang Valley, an area in Malaysia. The questionnaire was constructed through measures of PAKSERV for service quality, as well as other measures related to relationship marketing and other constructs in this study. Structured equation modeling was used in the analysis of data.

The current study is the first one of its kind to examine perceptions of customers of relationship marketing and service quality as predictors of corporate image, which drives corporate reputation and ultimate customer loyalty from the perspective of the Takaful industry in Malaysia. Service quality dimensions (tangibility, reliability and personalization) and relationship marketing dimensions (Islamic ethical behavior and structural bond) positively influence corporate image of the Takaful organizations. Moreover, customer loyalty can be predicted, mainly through corporate reputation as well as corporate image.

The present study is focused on the existing Malaysian Takaful customers as the population frame. Accordingly, future research studies may evaluate the same model, but perhaps in another different cultural context where the Takaful industry can grow and expand in other countries, including Saudi Arabia, Sudan and Pakistan. More importantly, the same variables may be verified to different service industries in future studies, especially those constructs related to relationship marketing because many products and services at present can be attained without face-to-face interactions through online transactions without having brick and mortar businesses.

It is important for Takaful service operators to focus on connecting the social and financial bonds to ensure the fulfilment of customers’ needs. They also need to improve the qualities related to tangibility, reliability and personalization to be able to increase their market share, especially in this present highly competitive market. Indeed, Takaful generally provides financial protection and risk management; nevertheless, the religious and ethical values need to be embraced in totality unlike conventional insurance, which has the element of gambling, uncertainty and the imposition of interest. Hence, this study aims to assist the Takaful operators toward achieving corporate reputation and apparently customer loyalty for them to remain relevant in this industry.

The model used in this study is based on the cultural context of Malaysia from the perspective of the Takaful industry. It attempts to explain customer loyalty through the incorporation of service quality and relationship marketing dimensions, where it is associated with the elements of the values of Islamic ethics especially in business transactions. More importantly, these dimensions were put together to identify its impact on corporate image, corporate reputation, and ultimately, customer loyalty, thus illustrating a distinct set of outcomes of the present study.

This study aims to explore the effectiveness and reliability of the performance of internal auditor by the stakeholders for their decision making. The absence of rules and regulations generates the debate that the non-standard reporting of the assessment of the internal controls system’s assessment by internal auditor and reliance by the external auditor.

The study used the mixed-method (triangulation) for the analysis quantitative data was used for regression with Smart PLS 3.2.8, and the qualitative data was used to prove and strengthen the results. The data is collected for five IVs (Objectivity of IAF, Work Performance, Competence, Internal Control System’s Assessment and Sourcing of IAF) and their impact on two DVs (Effectiveness and Reliance). This study used five areas as the target audience (Internal Auditor, External Auditor, Professional bodies, Shareholders, SECP and SBP). A total of 150 respondents were approached and received a valid response of 98 respondents.

The study explores the positive relationship between Objectivity of IAF, Work Performance, Competence, Sourcing of IAF on Effectiveness and Reliance. Internal Control System’s Assessment having significant relation with Effectiveness and non-significant with reliance because the absence of rules makes it unreliable for stakeholders.

The study found that the system for reporting the internal control needs rules and regulations advancement on the immediate basis for the betterment and safeguard of stakeholders to avoid the events like WorldCom and ENRON.

The Sharīʿah Standard No. (35) issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) aims to identify the zakāt base for institutions (including Islamic insurance companies) as well as the subsidiary and the mother company of the institution (the company). By zakāt base, the standard means the items of financial statements that should or should not be included in the calculation of the zakāt base, and the liabilities or allocations that should or should not be deducted from zakatable assets. The standard also covers payable zakāt rates, disbursement of zakāt funds on the eight categories of zakāt recipients and the rulings pertaining to disbursement. The focus then is on companies or corporations. There is no indication in the aims as to who owns the wealth of the corporation, that is, whether it is the company itself or it is the shareholders and whether it is treated as a joint wealth of the shareholders or of a single individual in the form of the company. The author will rely on this issue as one factor on the basis of which the standard is to be judged.

Quran and hadith. Works of earlier jurists.

In this study, the author has summarized the provisions of zakāt according to the traditional law, but only those that are relevant for the financial institutions and the standard issued by the AAOIFI. After that, the author mentioned the major points that have been addressed by the standard. In the last section, the author has shown that the rulings of the Islamic Fiqh Academy and the AAOIFI on zakāt are totally confusing and merely a reproduction of the rulings of traditional law. The main reason for this confusion is that the nature and entity of a corporation have not been addressed and have been treated like a partnership, thus, jumbling up the entire issue of zakāt through banks.

The main purpose in undertaking this original work is to examine the AAOIFI Sharīʿah Standards from the perspective of traditional Islamic law, that is, the law of the senior schools as laid down in their authentic manuals. If there is an extensive deviation from this law, then this must be pointed out in the hope that it will be corrected by the concerned institution and the banks that adopt these standards. Neglecting such a corrective action for long will result in damage not only to these institutions in the long run but also to the law of Islam that has been so carefully crafted over centuries. The purpose is to show how far this standard deviates from traditional Islamic law and claims to be called the authentic view on a particular subject. Nevertheless, it is not the purpose of this work to explain and elaborate on the meaning and utility of these standards.