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This study aims to synthesize the existing literature with insights gained from interviews conducted with regulatory experts. The objective is to analyse the challenges associated with incorporating cryptocurrencies into regulatory frameworks and to explore constraints in the regulatory institutionalization of cryptocurrencies.

The study methodology consists of two steps. The first step is to identify regulatory constraints in the literature review and in the next step, interviews are conducted with officials of the State Bank of Pakistan (SBP). The study used a qualitative case study methodology, in which a single case (regulatory constraint) was selected as a unit of analysis.

The findings show that lack of traceability, legal status, lack of governmental control due to decentralization, difficulty enforcing laws, volatility, lack of skills with regulators and difficulty integrating cryptocurrencies into the current financial system are the main obstacles to the introduction of a regulatory framework. Thus, on a broader conceptual level, the findings can be grouped into opportunism, lack of strategic capability and fragmented global laws.

This study could inform global cryptocurrency regulation discussions, sharing a developing country’s views on balancing the government, central banks, the financial sector and public interests. This could guide countries to consider cryptocurrency adoption in similar situations. This could affect the cryptocurrency market, impacting demand, supply and investor trust in Pakistan.

The study has implications for policy making officials. The research aims to offer valuable insights to the SBP and other regulatory authorities, helping them identify potential risks and create an effective regulatory framework for cryptocurrencies.

The study has implications for society in knowing about the volatile nature of cryptos and anonymity of their issuers, which poses regulatory constraints. This then implies its harmfullness to its traders and the huge losses that may arise from their trading due to its volatile nature.

This study contributes to the literature on the constraints, responsibilities and consultation framework of cryptocurrency regulations.

Pakistan is one of the most climate change and natural disaster-affected countries in the globe, where the lives and livelihoods of people are repeatedly affected due to these natural disasters. Over the past few decades, the country has been impacted by numerous devastating floods, droughts, and storms. As a result, households face enormous complications, particularly those dwelling in disaster-prone areas. Therefore, this study intends to explore the status of household vulnerability and resilience practices of hazard-prone communities in Pakistan from existing literature. This study has identified the 17 most relevant documents. It argues that household vulnerability is increasing consistently with the increasing rate of disaster intensity. Frequent flooding, landslide, erosion, and crop loss are the leading causes of household vulnerability. This study reveals five types of household vulnerability components which look into several livelihood vulnerability indicators of Pakistani households. Moreover, the study unfolds that the main causes of disaster vulnerability are widespread crop loss, a lack of water, loss of soil fertility, and low socioeconomic situations. The major vulnerability components of dwellers are exposure (increasing summer duration, the rapid increase of population house build-up in the riparian areas, and increasing occurrence of hailstorms), sensitivity, low access to education facilities, human loss, diseases infestation, food insecurity, and social conflict), and less adaptive capacity (social networks, migration, poor emergency services, multiple income sources, and less access to the health facility). To address the household vulnerability, this study has also identified four key aspects of resilience, like social resilience, economic resilience, institutional resilience, and physical resilience. The findings will effectively help to understand the dynamics of household vulnerability and resilience and its measurement and management strategy from developed indicators.

This study aims to investigate risks associated with climate change vulnerability and in response the adaptation methods used by farming communities to reduce its negative impacts on agriculture in Pakistan.

The study used household survey method of data collection in Charsadda district of Khyber Pakhtunkhwa province, involving 116 randomly selected respondents.

Prevalent crops diseases, water scarcity, soil fertility loss and poor socio-economic conditions were main contributing factors of climate change vulnerability. The results further showed that changing crops type and cultivation pattern, improved seed varieties, planting shaded trees and the provision of excessive fertilizers are the measures adapted to improve agricultural productivity, which may reduce the climate change vulnerability at a household level.

The major limitation of this study was the exclusion of women from the survey due to religious and cultural barriers of in Pashtun society, wherein women and men do not mingle.

Reducing climate change vulnerability and developing more effective adaptation techniques require assistance from the government. This help can be in the form of providing basic resources, such as access to good quality agricultural inputs, access to information and extension services on climate change adaptation and modern technologies. Consultation with other key stakeholder is also required to create awareness and to build the capacity of the locals toward reducing climate change vulnerability and facilitating timely and effective adaptation.

This original research work provides evidence about farm-level vulnerability, adaptation strategies and risk perceptions on dealing with climate-change-induced natural disasters in Pakistan. This paper enriches existing knowledge of climate change vulnerability and adaptation in this resource-limited country so that effective measures can be taken to reduce vulnerability of farming communities, and enhance their adaptive capability.

Given the relative importance of the Shari’ah supervisory boards (SSBs) in Islamic banks’ (IBs’) performance, this study aims to examine the impact of SSB diversity on IBs’ performance from the stakeholders’ perspective in the context of Pakistan.

Random-effects model and generalized method of moment are used to investigate the impact of SSB diversity on IBs’ performance across a panel data of 22 Islamic banks in Pakistan from 2005 to 2020 inclusive.

The findings of this study show that SSB size, SSB relevant educational background diversity, bank’s size and bank’s stability have a positive impact on IBs’ performance. In contrast, SSB age, nationality and cross-membership diversities have a negative impact on IBs’ performance. Moreover, SSB gender, tenure and general educational diversities have no significant impact on IBs’ performance.

SSB diversity and IBs practices are different across different jurisdictions. This study is conducted on IBs in Pakistan because of data constraints; thus, the results of this study may not be generalizable to other countries' IBs.

In structuring the SSBs’ framework, the regulatory authorities and policymakers should consider mandating an ideal SSB size and hiring relevant qualified members with low cross-membership to improve IBs' performance. Thus, the structure potentially attracts Muslim stakeholders, enhances their satisfaction and improves IBs' performance.

Having diversified members in the SSB, IBs equally benefit both individual and group stakeholders in society. Diversity in SSB members enhances IBs' performance and the social welfare of various stakeholders in society.

To the best of the authors' knowledge, this is the first empirical research that examines comprehensively the impact of SSB structural and demographic diversities on IBs' performance in the context of Pakistan. This paper contributes to the unique Shari’ah governance structure in the context of Pakistan. Additionally, this study may serve to assist IBs’ stakeholders in better comprehending the SSB practices of IBs in Pakistan.

This study aims to evaluate cognitive, personal and environmental factors affecting investors’ behavioral intentions (BI) to invest in ṣukūk (Islamic investment certificates) in Pakistan.

Data from 462 participants were collected through survey-questionnaires by using the convenient sampling technique. Hypothesized proposed relationships among the constructs were examined by applying the structural equation modeling (SEM) technique through smart partial least squares.

Compatibility, internal influence, external influence and intrinsic motivation were found to be significant predictors of investors’ BI to invest in ṣukūk. In addition, it was found that the religious aspect not only affects investors’ BI positively but also works as a moderator in the relationships between BI and both internal and external influence.

The results are quite helpful for ṣukūk issuers and regulators to consider cognitive, personal and environmental factors that might enhance the adoption of ṣukūk, especially among Muslim investors.

This study is among the few research studies that shed light on investors’ BI to invest in ṣukūk. Using social cognitive theory, the study investigates the cognitive, personal and environmental factors influencing ṣukūk adoption, which were previously unexplored. In addition, this is the first study that unveils the influential factors of ṣukūk adoption in Pakistan, a Muslim-majority country.

Islamic banking has undergone significant adaption since its inception. This study aims to investigate why and how Islamic banks adapt their services, using participatory financing as evidence.

A qualitative study is designed, using working capital financing and commodity operations financing in Pakistan as analytical units. The data for each analytical unit is analyzed using a qualitative content analysis, while the findings are synthesized using a cross-case synthesis method.

Findings suggest that participatory financing has undergone extensive adaptation in the Islamic banking industry of Pakistan, in the wake of resolving constraints to participatory financing and increasing its viability. Consequently, participatory finance has emerged as an attractive and viable option in Pakistan. These findings suggest that unlike in the past, where Islamic banks used to buffer themselves from the environment and ignore the market demands, they have learned to respond effectively to the market demands and the challenges posed by the environment.

Findings suggest that the adaptation strategy is more effective than the migration strategy, because it enables the financial service systems to reduce the underlying risks by avoiding emergent threats and eradicating the inherent weaknesses.

The extant literature provides a generalized view on the adaptation process that Islamic banks undergo to comply with their environment. However, it is limited in terms of conceptualizing the adaptations and innovations in their products and the underlying structural variations. The present study fills this gap.

To investigate the impact of board characteristics (board gender diversity, board chair age, board subcommittees, board meetings, board skill, board size and board independence) on corporate social responsibility disclosures (CSRD) of state-owned enterprises (SOEs) in Kenya during the period 2015–2018.

The study employed fixed-effects balanced panel data to examine the impact of board characteristics on CSRD. The analysis is repeated using two regression estimators (robust least square and random effects) and the four CSRD subcomponents to evaluate the robustness of the main analysis.

The results established that board gender diversity, board chair age and board subcommittees had significant negative effects on CSRD. The impact of the remaining board characteristics was found to be insignificant.

The study was limited to the disclosures included in the annual reports, which means that information disclosed in other media, like websites, was not considered. The second limitation concerns mediating and moderator variables that were not considered.

There is a need for a stricter corporate governance implementation mechanism, as opposed to the “comply or explain” principle, since results suggest that most of the board characteristics do not appear to be impactful. Additionally, the low level of reported CSRD calls for the establishment of Corporate Social Responsibility or related committees.

The evidence suggests that SOEs are reluctant to report on issues such as ethics, health and safety initiatives, environment and social investments.

The paper extends the literature on the impact of board characteristics on CSRD in unlisted non-commercial SOEs in a developing country context.

This study aims to investigate the relationship between corporate governance characteristics and the financial performance of both Islamic and conventional banks in the context of an emerging market, i.e. Malaysia.

This study includes 300 bank-year observations from Islamic and conventional banks over the period 2010–2021. The dynamic panel model (generalized method of moments [GMM]) was considered the primary estimation model that solves simultaneity, endogeneity and omitted variable problems as most governance variables are endogenous by nature. Hence, static models are considered biased after conducting the DWH test of endogeneity, and considering dynamic panel GMM is valid proven by Sargan and Hensen and first-order (ARI) and second-order (ARII) tests.

Based on the regression results, the authors discovered that board size, female participation in the board and director remuneration have a significant positive impact on bank performance, whereas board meetings have a significant negative impact. Furthermore, the board governance structure of commercial banks is found to be more passive than that of Islamic banks.

The study’s findings added a new dimension to governance research, which could be a valuable source of knowledge for policymakers, investors and regulators looking to improve existing governance mechanisms for better performance of conventional and Islamic banks.

The goal of this study is to add to the existing literature by focusing on the impact of female board participation and other board governance mechanisms in both conventional and Islamic banks on bank performance.

Shari’ah is the foundation of Islamic banks. Although all the Islamic banks required complying with the Shari’ah requirements fully, the level of compliance differs among the Islamic banks. At the same time, Islamic banks have been performing well, but all do not demonstrate similar financial performance. This paper aims to explore whether Shari’ah compliance efficiency makes any difference in financial performance of Islami Bank Bangladesh Limited (IBBL).

This study used IBBL as a case. For exploring the issue of study, this paper applied an e-mail interview approach and interviewed 24 interviewees including financial analysts, IBBL clients and executives of regulatory bodies, the IBBL and other Islamic- and interest-based traditional banks. Interview opinions are then analyzed and interpreted for a deeper understanding of the topic.

The study observed that some other factors influence the financial performance of IBBL, but Shari’ah compliance is the dominant instinct of acquiring the leading position. Superior Shari’ah compliance creates internal strengths and external opportunities that facilitate IBBL in achieving higher financial performance. Most interviewees argued that Shari’ah is the only disposition that makes IBBL unique. Moreover, the bank that considerably follows Shari’ah gets better financial outcomes.

The study used a qualitative method using interview responses only for evaluating the relationship between Shari’ah compliance and financial performance. Further study may be conducted based on a quantitative approach.

This paper expects to uphold the significance of Shari’ah in improving the financial performance of IBBL and simultaneously motivating the parties associated with the Islamic banks in enhancing the level of Shari’ah compliance. Moreover, this study provides new insights into the importance Islamic banks and their performance in relation to the choice of customers.

This study explores the significance of Shari’ah compliance in creating avenues for greater financial performance and develops a model showing the ways how Shari’ah compliance leads Islamic banks to achieve higher financial positions.

This study aims to investigate and compare the characteristics of three topologies of moving-magnet linear oscillating actuator (LOA) based on their mover position. Positive aspects and consequences of every topology are demonstrated. Three topologies of axially magnetized moving-magnet LOA; outer mover, inner mover (IM) and dual stator (DS) are designed and examined. Due to its characteristically high thrust density and more mechanical strength, axially magnetized tubular permanent magnets (PMs) are used in these topologies.

LOAs are designed and optimized using parametric sweep, in term of design parameters and output parameters like thrust force, stroke and operating resonance frequency of the LOA. All the pros and cons of each topology are investigated and compared. Output parameters of the LOAs are compared using same size of the investigated LOAs. Mover mass, which plays a vital role in resonant operation, is analyzed for IM and DS designs. Investigated LOAs are compared with conventional designs of LOA for compressor in refrigeration system with regards of motor constant, stroke and thrust per PM mass.

This paper analyzes three topologies of moving-magnet LOAs. The basic difference between investigated LOAs is the radius of tubular-shaped mover from its central axis. All the design parameters are compared and concluded that thrust per PM mass of IMLOA is maximum. OMLOA provides maximum motor constant of value 180 N/A. DSLOA provides thrust force with motor constant 120 N/A and required intermediate materials of PMs. All the three designs give the best results in terms of motor constant and thrust per PM mass, compared to conventional designs of LOA.

This paper determines the impact of mover position from its central axis in a tubular-shaped moving-magnet LOA. This work is carried out in correspondence of latest papers of LOA.