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Purpose This paper aims to identify some important misconceptions about Islamic banks, which impact investor’s portfolio in term of threats, challenges and opportunities. This paper is trying to attempt to present five different layers of misconceptions regarding investor portfolio. Design/methodology/approach This paper distributed 132 questionnaires among investors of Islamic financial institutions and multiple regression of least significant difference (LSD) method implied for data analysis. Findings The results of this paper show that two variables, such as opportunity and challenge, out of three are positively significant and the remaining one variable, threat, is insignificant regarding investor portfolio. Originality/value This paper is the first ever attempt in its nature to identify the different misconceptions about Islamic banking system and its impact on investor portfolio.

Dry fruits and nuts are nutritious foods with several health-promoting properties. However, they are prone to contamination with aflatoxins at all stages of production and storage. The present study aimed to determine the natural occurrence of aflatoxin B1 (AFB1), aflatoxin B2 (AFB2), aflatoxin G1 (AFG1), aflatoxin G2 (AFG2), and total aflatoxins (AFT) in dates, pistachios, and walnuts collected from four districts of South Punjab (Pakistan), and to assess the associated health risks as estimated by dietary exposure and the Margin of Exposure (MoE) determinations. The contents of AFB1 and AFT in these food products were monitored during storage under three different conditions (open-air, hermetically closed jars, and refrigeration at 4 °C) to determine the most efficient conditions in preventing aflatoxin accumulation. HPLC-fluorescence analysis of 60 samples of these products for aflatoxin contamination showed that 52 (86.7%) samples were contaminated at different levels, with a maximum of 24.2 ng/g. The overall (all samples) mean concentrations of AFB1, AFB2, AFG1, AFG2, and AFT were 3.39 ± 2.96, 1.39 ± 1.68, 1.63 ± 1.48. 1.12 ± 1.23, and 7.54 ± 6.68, respectively. The Estimated Daily Intake (EDI) and MoE of aflatoxins through the consumption of the products ranged from 0.06 ng/kg bw/day to 2.0 ng/kg bw/day and from 84.84 to 2857.13, respectively, indicating that consumers are at high health risk. Significant differences were recorded between aflatoxin levels in the samples stored under different storage conditions, with storage under refrigeration (4 °C) being the most effective in controlling aflatoxin accumulation, although storage in closed jars was also efficient and offers a more flexible alternative to retailers. The findings of the study urge official authorities of Pakistan to implement appropriate regulatory and control measures and surveillance program to alleviate the potential public health risks associated with the consumption of dry fruits and nuts in the scope of their increased consumption.

Purpose The study aims to investigate the impact of financial inclusion (FI) on environmental quality and the mediating role of industrialization (IZ). In addition, these relationships among the counties with different levels of income and carbon emissions were also analyzed. Design/methodology/approach This paper used the International Monetary Fund database for indicators of FI. The environmental indicators were obtained from the World Bank database for a panel of worldwide countries from 2004 to 2019. Separate indices of environmental sustainability (ES) and environmental degradation (ED) were created by using principal component analysis . The generalized method of moments regression was applied to examine the relationship between variables. Findings The study found full mediation of IZ between FI and ES, whereas partial mediation between FI and environmental degradation. The results were found robust against alternative measures of carbon emissions. Furthermore, the study also bifurcated the sample according to the level of income and carbon emission. It was found that FI plays a positive role in the betterment of environmental quality for high-income countries, while a negative role in upper-middle-income, lower-middle-income and low-income countries. Besides, FI has a negative role in the ES of the countries having higher or lower carbon emission levels. Originality/value Empirically this study contributes by creating two different novel measures of ES and environmental degradation, in contrast to other studies that solely relied on carbon emission. Contrary to previous studies, this study suggests that FI is not solely responsible for environmental damages, and IZ is the key channel by which FI shifts its impact on ES. Moreover, for environmental degradation, there are some other channels involved that need to be investigated further. This study has also noted that the relationship between FI and ES is context-dependent. Theoretically, this paper contributes to the literature by using ecological modernization theory in the nexus of FI, IZ and environmental quality.

PurposeMotivated by lack of empirical research on sukuk (Islamic bonds) defaults and factors influencing the credit risk in sukuk industry, the study investigates the impact of corporate governance (CG) practices and corporate social sustainability (CS) disclosures on default risk of Islamic bonds in an emerging market.Design/methodology/approachIn the Malaysian context the authors use generalized method of moments (GMM) to examine the mitigating effect of CG structure and CS disclosures on distance to default (DD) of sukuk issuers.FindingsThe results show that although both CG and CS have a significant and positive relationship with distance to default, the contribution of CS to augment DD is higher. Moreover, different CG variables have a varied relationship with distance to default, while the association is positive for all three pillars of CS, videlicet economic, social and environmental sustainability.Practical implicationsThe findings of the study hold important implications for issuers, subscribers and regulators in the sukuk industry.Originality/valueLimited research investigates the relationship between CG, CS and default risk of Islamic bonds. In light of this, the study attempts to fill the theoretical void in literature by examining the relationship among the underlying variables.