This study aims to illustrate the impact of adopting Regulatory technology (RegTech) innovations in banks on money laundering prevention effectiveness using Bahrain as a case study. Bahrain has strived to position itself as the banking center of the Arabian Gulf, hence the results of this novel research are informative of the practices in the region. The primary data for this study was collected through a survey instrument distributed to 100 bankers working in Bahrain with expertise in compliance. The results of multivariate analysis indicate that transactions monitoring through RegTech and cost- and time-saving aspects of RegTech, drive money laundering prevention effectiveness to a highly statistically significant extent. However, electronic know your customer (KYC) technologies are insignificant as drivers. This research not only sheds light on the efficacy of RegTech but also raises general awareness concerning the adoption and integration of RegTech platforms for fighting money laundering. In particular, the findings provide specific insights about the deployment of RegTech capabilities in banks in regional banking centers of modest scale.

Purpose The main objective of the study is to investigate the effect of COVID-19 on accounting education in the higher education (public and private universities) in the Gulf Cooperation Council (GCC). Design/methodology/approach The study is explorative in nature conducted with quantitative survey approach and using purposive techniques in collecting data. The sample focuses on the teaching staff at public and private universities in (GCC), Kingdom of Saudi Arabia, United Arab Emirates, Bahrain, Kuwait, Oman and Qatar during the COVID-19. Findings This study presumed to highlight some of the emergent issues faced during the pandemic pertaining the aspects of the COVID-19 and digitizing accounting education and its effect on future direction of digital education. Originality/value To the best of the authors’ knowledge, this study is the first academic paper to study the effect of COVID-19 on accounting education in the higher education in the GCC.

Purpose Although Zakah is the cornerstone of the social protection system in Muslim societies, providing relief to those in need and collecting funds from those who have access to money and property, many administrative and legal improvements need to be made to ensure that Zakah funds are managed effectively and efficiently in Muslim states. It is therefore important to recognize why some Muslims are not paying their Zakah through Zakah authorities. The purpose of this paper is to propose a viable and comprehensive research model, derived from an economic and socio-psychological perspective, to provide a richer understanding of Zakah payers’ compliance behaviour. Design/methodology/approach Drawing on extant literature, this study offers a conceptual framework for a better understanding of compliance behaviour by proposing an economic and socio-psychological model based on Fischer’s tax compliance model, which could be applied cautiously in an Islamic setting like Zakah. Findings The four main categories of the Fischer model are derived from socio-psychological and economic perspectives, namely, attitude and perception (system fairness, ethics and peer influence); Zakah system structure (Zakah law complexity and law enforcement); non-compliance opportunity (education level, wealth source and occupation); and demographic factors (age and gender). Each has much to offer in understanding Zakah payers’ compliance decisions. To suit the nature of Zakah, the influence of Islamic religiosity and the moderating effect of trust in the Zakah institution are incorporated into the model. Practical implications Those Muslim communities that strive to have functional Zakah systems to search for solutions to the perennial problem of low Zakah funding and its damning consequences, are offered a compliance model for systematically assessing Muslims’ compliance behaviour with Zakah provisions. This framework is anticipated to offer invaluable input to policymakers in streaming and strategizing the minimization of losses of Zakah revenue to Zakah authorities. Originality/value Although behavioural models such as the theory of reasoned action and the theory of planned behaviour have been extensively used in Zakah compliance studies, to the best of the authors’ knowledge, this study is perhaps the first to apply a socio-psychological and economic framework, emerging from tax literature, in the Zakah environment to develop fully understanding of Zakah payers’ compliance decisions.

This study aims investigate the relationship between expenditure on higher education and economic development in Saudi Arabia. which has invested in higher education and knowledge creation since its independence as part of the sustainable development process. Accordingly, this study aims at conducting an initial survey of the policies of expenditure on higher education in Saudi Arabia and then developing a standard model in which the results of this investment will be measured in achieving the economic development in Saudi Arabia for a period of forty years from (1978) until (2017). Based on econometric instruments; the study model did not succeed in finding a relationship between investment in higher education and economic development in Saudi Arabia.

Purpose This paper aims to examine bases of effectiveness in internal Shariah auditing undertaken in Islamic financial institutions (IFIs). Design/methodology/approach This paper is theoretical in approach taking, as its starting-point, an extensive literature review. From a general agency theory, an Islamic agency theory is articulated and then applied to ascertain attributes of internal Shariah audit effectiveness revolving around the concept of independence. Findings Effective internal Shariah auditing, as a mechanism of assuring Shariah compliance by IFIs, varies directly with the degree of independence enjoyed by internal Shariah auditors themselves. The research propounds that an articulated Islamic agency theory holds potential to serve as a theoretical foundation to build a multi-dimensional conceptual framework based on independence utile for evaluating internal Shariah audit effectiveness. Research limitations/implications Evidence is drawn strictly from secondary sources. Practical implications To assure effectiveness of internal Shariah auditing, IFIs ought to increase the level of independence of internal Shariah auditors. Originality/value Internal Shariah audit effectiveness in IFIs has not been extensively studied in comparison with both studies of external Shariah audit effectiveness in IFIs and internal audit effectiveness undertaken by conventional financial institutions. This research fills that gap.

The impact of COVID-19, due to the wide-spread demand and supply destruction and downward movement of crude oil prices is of concern for all those connected with the oil and gas industry. In this study, an attempt has been made to estimate the price volatility of crude oil and natural gas listed on multi commodity exchange of India (MCX). We measured the leverage effect of COVID-19 on price volatility of crude oil and natural gas by using the daily prices of crude oil and natural gas from May 01, 2017 to April 30, 2020. The findings of the study reveal that there is a presence of leverage effect of COVID-19 on the price volatility of crude oil. However, this leverage effect is not present on the price volatility of natural gas. The findings of the study will help investors to develop investment strategies and to the policymakers to formulate appropriate policies to overcome or minimise the impact of COVID-19. The forecasting graphs of crude oil prices indicate that there is a possibility that price volatility will be higher in the future. However, it is difficult to forecast the expected price volatility of natural gas for the future because the price volatility graph is extremely fluctuating.

Purpose of the study: It is the goal of this study to explore selected Malaysian public universities undergraduates’ awareness and knowledge level of internal Shariah audit. Methodology: The research used the quantitative approach of the survey. A survey was administrated to undergraduate students in accounting and finance programs in selected Malaysian public universities. Main Findings: The results of this research may indicate the level of knowledge and awareness among accounting students in selected Malaysian public universities. The outcomes of this research could serve as a reference point for the public universities, regulatory and professional bodies in evaluating the execution of a complete internal Shariah audit’s framework. This research will help to enhance the accounting courses offered by selected Malaysian public universities. Applications of this study: This research may provide the accounting students and professional accountants the understanding of the importance of internal Shariah auditing in Malaysian IFIs. Novelty/Originality of this study: Awareness of Internal Shariah Auditing in public universities in Malaysia has not been extensively studied.

Purpose This study aims to empirically explore donors’ responses to fundraising appeals to mitigate the socio-economic impact of the COVID-19 crisis. Some governments worldwide have launched fundraising campaigns to support the pandemic relief efforts, such as the Feena Khair* campaign in the Kingdom of Bahrain. Specifically, the study examines how the internal and external aspects can fuel beliefs in the inclination of donors to give money. Design/methodology/approach A quantitative survey instrument was developed, validated and disseminated. A total of 263 usable responses were obtained using the snowballing sampling technique. Partial least squares-structural equation modeling was used to analyze the research model and obtain meaningful results. Findings The results show that external aspects, i.e. charity projects and trust in charities, have a significant relationship with donors’ attitudes toward fundraising appeal for the COVID-19 fight. Interestingly, the study demonstrates a significant moderating effect of internal values of religious beliefs on the positive relationship between external aspects and attitude to give money. Practical implications The results suggest that governments and non-profit organizations should consider the important role of religious beliefs in driving people’s attitudes to engage in fundraising appeals to fight the pandemic. These findings could generate better insights and policies that boost relief and donation efforts in many ways, such as embarking on sensitization programs to create sufficient awareness on the importance of giving and social solidarity during this challenging time, strengthening the religious faith of donors, setting up charity projects with inclusive information and nurturing a high level of public confidence in charities. Originality/value This study is likely the first study to focus on fundraising campaign attitudes during the COVID-19 pandemic in Bahrain. It is a pioneer study scrutinizing the moderating effect of religious beliefs on the association between extrinsic perspectives of donors and their attitudes toward monetary donations.