Gulf Cooperation Council Countries Research Articles

Institutional ownership and women representation on boards in three different institutional settings

AbstractThis study aims to investigate the moderating effect of country level institutional variables on the relationship between institutional ownership and board gender diversity. Using firm and country level data of three different cultural environments (Gulf Cooperation Council countries, UK, and France) for the years 2018–2019, this study concludes that institutional elements related to women (Women Tertiary education levels; legal support, Economic Participation and culture) create isomorphic pressure on firms that enhance the role of institutional owners in increasing women representation on board of directors. Other governance elements, such as ownership concentration, board independence and board size may indicate governance levels better than board gender diversity in certain institutional environments. The study recommended that board gender diversity should not be a priority for investors and portfolio managers in financial markets where reduced female labor market participation exists. Moreover, quotas may be a good tool for enhancing female representation among boards in contexts that have reduced female labor market participation and high levels of tertiary education attainment to maintain corporate sustainability.

Readability and banks’ risk-taking behavior: Evidence from GCC

We investigate the relationship between annual reports’ text readability and bank risk-taking in the Gulf Cooperation Council (GCC) countries. We find that easy-to-read annual reports are associated with a higher probability of banks’ insolvency. This finding suggests that banks with higher risks have a greater incentive to reduce information asymmetry, resulting in easy-to-read annual reports to gain the trust of the banks’ investors. The result is also attributable to the fact that GCC banks have a tight culture and formal procedures that bank managers rely upon to manage uncomfortable circumstances like risk-taking behavior. Our study findings also suggest that the traditional dynamics of market discipline theory do not effectively operate within the GCC banking environment. This might be attributed to the inadequate governance frameworks established for these financial institutions.

A framework for eradicating women discrimination in architectural design firms in Egypt and GCC countries

PurposeThis research aims to develop and validate a framework for eradicating women’s discrimination in architectural design firms (ADFs) in Egypt and propose strategies for prospective adoption in the Gulf Cooperation Council (GCC) countries to increase the transformational impact of women on the architectural and urban developments of the Gulf region.Design/methodology/approachA combined qualitative and quantitative research approach was designed to accomplish four objectives. Firstly, to investigate the nature of business in ADFs, women’s discrimination and policies for gender equity (PGE) in architecture. Secondly, to analyse three case studies to validate the identified causes and impacts of women’s discrimination and examine the role of PGE towards eradicating women’s discrimination in ADFs. Thirdly, to conduct a survey questionnaire with a representative sample of ADFs to investigate their perception of women’s discrimination and the correlation between PGE towards eradicating women’s discrimination in ADFs. Based on the above, the research developed and validated a framework to eradicate women’s discrimination in ADFs in Egypt and suggested strategies for potential application in the GCC countries to increase the transformational role of women in the architectural and urban developments of the Gulf region.FindingsThrough literature review and case studies, the research identified and validated the causes and impacts of women’s discrimination as well as PGE in Architecture. The findings of data analysis showed that the highest-ranked causes of women discrimination in ADFs were “customs and beliefs” followed by “Underestimating women’s work” and “Recruiting males more than females”. Moreover, the highest-ranked impacts of women’s discrimination were “career shift and leaving the profession” followed by “decrease in creativity and innovation” and “decrease in economic growth”. Furthermore, the Spearman correlation test showed that while some PGE were correlated, others were not. These findings helped in the development of the proposed framework and proposed strategies.Practical implicationsThis research presents a practical framework to eliminate women’s discrimination in ADFs in Egypt based on the findings of literature review, case studies and survey questionnaire. The framework explained in a workable way the objectives of the framework functions; activities; tools and techniques; involved personnel and needed resources as well as enforcing mechanisms. It was validated by a representative sample of ADFs in Egypt to ensure its practicability and viability and suggested strategies for implementation in the GCC countries to increase women’s role in architectural and urban development.Originality/valueThe research identified and validated the causes and impacts of women’s discrimination as well as PGE in Architecture. Moreover, the research investigated the perception of women’s discrimination and the correlation between PGE through conducting a survey questionnaire with a representative of ADFs in Egypt. The research tackled a topic that received scant attention in construction literature, especially in Egypt and the GCC countries. The research developed and validated a framework to eradicate women’s discrimination in ADFs in Egypt. It represents a synthesis that is novel and creative in thought and adds value to the knowledge in a manner that has not previously occurred. The research suggested several strategies for the prospective implementation of the framework in the GCC countries as an approach to enhancing the transformational role of women in the architectural and urban developments of the Gulf region.

Acquisition deal characteristics and earnings management: New evidence from Gulf Cooperation Council countries

AbstractIn this study, we empirically investigate the association between acquisition deal characteristics and two forms of earnings management: accruals earnings management and real earnings management. Our focus is on acquiring firms listed in six Gulf Cooperation Council (GCC) countries. Employing a panel data approach to explore these interrelationships, our findings suggest that acquiring companies involved in cross‐border deals tend to resort to accruals earnings management before the acquisition rather than real earnings management. Conversely, acquiring firms engaged in unrelated industrial deals are inclined to employ real earnings management over accruals earnings management. Moreover, our analysis indicates that the extent of acquired ownership acts as an effective tool in mitigating both forms of earnings management. Similarly, cash payment acquisitions emerge as an efficient means of curtailing both accruals and real earnings management. These results underscore that the engagement of GCC acquiring firms in earnings management is influenced by the specific characteristics inherent in the acquisition deals.

An examination of the predictors of change in BMI among 38026 school students in Makkah, Saudi Arabia.

The prevalence of childhood obesity has substantially increased in the Gulf Cooperation Council countries, including Saudi Arabia. The Rashaka initiative is a Saudi national school-based multicomponent intervention that was introduced in the school year 2016-2017 to address childhood overweight and obesity. This study aims to examine the effect of the Rashaka initiative on students' body mass index (BMI) for two academic years (2016-2017 and 2018-2019) and to analyse predictors of BMI change. Secondary data for this pre-post study was provided by the Ministry of Health for 38026 students from 89 intermediate and secondary schools that implemented the initiative in Makkah City, Saudi Arabia. It was analysed using non-parametric tests and multiple regressions at a 5% level of significance. Over 2y of implementation, BMI was reduced significantly across the schools (p < 0.001). Based on the regression modelling, school gender and education stage were found to be the only significant predictors of BMI change. Girls and intermediate schools had greater BMI reductions than boys and secondary schools (p < 0.001 and p = 0.031). This study provides tentative evidence for the effectiveness of the Rashaka intervention in Makkah City. In addition, our study has identified that the Rashaka initiative may require modification to improve its effect on boys and students in secondary schools.

Experience of X-linked hypophosphatemic rickets in the Gulf Cooperation Council countries: case series.

X-linked hypophosphatemic rickets (XLH), the most prevalent form of inherited hypophosphatemic rickets, is caused by loss-of-function mutations in the gene encoding phosphate-regulating endopeptidase homolog, X-linked (PHEX). This case series presents 14 cases of XLH from Gulf Cooperation Council (GCC) countries. The patients' medical history, biochemical and radiological investigative findings, as well as treatment responses and side effects from both conventional and burosumab therapy, are described. Cases were aged 2-40 years at diagnosis. There were two male cases and 12 female cases. All cases were treated with conventional therapy which resulted in a lack of improvement in or worsening of the clinical signs and symptoms of rickets or biochemical parameters. Side effects of conventional therapy included nausea, diarrhea, abdominal pain, nephrocalcinosis, and hyperparathyroidism, which affected the patients' quality of life and adherence to treatment. In the 10 patients treated with burosumab, there was a marked improvement in the biochemical markers of rickets, with a mean increase in serum phosphate of +0.56 mmol/L and tubular maximum phosphate reabsorption (TmP) to glomerular filtration rate (GFR) ratio (TmP/GFR) of +0.39 mmol/L at 12 months compared to baseline. Furthermore, a mean decrease in serum alkaline phosphatase (ALP) of -80.80 IU/L and parathyroid hormone (PTH) of -63.61 pmol/L at 12 months compared to baseline was observed in these patients. Additionally, patients treated with burosumab reported reduced pain, muscle weakness, and fatigue as well as the ability to lead more physically active lives with no significant side effects of treatment. Conventional therapy resulted in a suboptimal response, with a lack of improvement of clinical signs and symptoms. Side effects of conventional therapy included nausea, diarrhea, abdominal pain, nephrocalcinosis, and hyperparathyroidism, which affected the patients' quality of life and adherence to treatment. Burosumab demonstrated marked improvements in the biochemical markers of rickets, in addition to reducing pain, muscle weakness, and fatigue. There were no significant side effects associated with burosumab therapy.

Current Practice and Safety Measures in Epilepsy Monitoring Units in The Gulf Cooperation Council Countries: A Cross-Sectional Study

BackgroundAn increasing number of Epilepsy Monitoring Units (EMU) display various practices and safety protocols. EMU settings should meet clear, standardized safety protocols to avoid seizure adverse events (SAE). We aim to provide the foundational framework facilitating the establishment of unified evidence-based safety regulations to address the practices and safety measures implemented within the Gulf Cooperation Council (GCC). MethodsIn this cross-sectional study, EMU directors in the GCC were contacted directly by phone to personally complete an electronic 37-item questionnaire sent via text messages and email. From January 2021–December 2021. ResultsSeventeen EMUs from six GCC countries participated in the study. All EMU directors responded to the study. Twelve (70.6%) EMUs monitored adults and children, five (29.4%) monitored adults, and none monitored children only. The number of certified epileptologists in the EMUs ranged from one to eight per unit. Fifteen (88.2%) EMUs applied a continuous observation pattern, whereas two (11.8%) performed daytime only. The precautions most commonly used in the video Electroencephalogram (EEG) were seizure pads and bedside oxygen in 15 EMUs (88.2%). For invasive EEG, seizure pads were used in 9 EMUs (52.9%), %) and IV access in 8 EMUs (47.1%). The occurrence of adverse events varied among EMUs. The most common conditions were postictal psychosis 10 (58.8%), injuries 7 (41.2%), and status epilepticus 6 (35.3%). Falls were mainly related to missed seizures or delayed recognition by video monitors in 8 EMUs (47.1%). The extended EMU stay was because of an insufficient number of recorded seizures in 16 EMUs (94.1%), poor seizure lateralization and localization in 10 (58.8%), and re-introduction of AEDs in nine (52.9%). All EMUs had written acute seizure and status epilepticus management protocols. A postictal psychosis management protocol was available for 10 (58.8%). Medications were withdrawn before admission in 6 EMUs (35.3%). The specific medication withdrawal speed protocol upon admission was available in 7 EMUs (41.2%). Pre-admission withdrawal of medication demonstrated a shorter length of stay in both video and invasive EEG, which was statistically significant (ρ (15) = -.529, p =.029; ρ (7) = -.694, p =.038; respectively). ConclusionThe practice and safety regulations of EMUs in the GCC vary widely. Each EMU reported the occurrences of SAE and injuries. Precautions, protective measures, and management protocols must be reassessed to minimize the number of SAEs and increase the safety of the EMU.

Towards Internationalization: Exploring Economic Diplomacy in the Middle East (GCC)

Internationalization is a crucial process for companies seeking growth and expansion in foreign markets, especially in the Middle East, where economies have been developing and diversifying business opportunities, seeing it as an attractive destination to expand their operations. This study presents a comprehensive analysis of the internationalization process of economic diplomacy by exploring the experiences of renowned Portuguese companies within the Gulf Cooperation Council. The Gulf Cooperation Council countries are integral players in the Middle East market, characterized as rentier states that are heavily reliant on oil and gas revenues and possess varying levels of economic and military strength, with Saudi Arabia and the UAE being the most prominent. The focus group method was applied in the qualitative research. It contributes to reinforcing the literature on internationalization processes, economic diplomacy, and the Middle East market. The findings provide valuable guidance to Portuguese companies, policymakers, and economic diplomats involved in promoting and facilitating international trade and investment.

Examining the Quadratic Impact of Sovereign Environmental, Social, and Governance Practices on Firms’ Profitability: New Insights from the Financial Industry in Gulf Cooperation Council Countries

The present study particularly aims to probe the quadratic effects of the combined and individual sovereign environmental, social, and governance (ESG) activities on the banking sector’s profitability. Furthermore, we attempt to shed light on the channels through which sovereign ESG practices impact the banking sector’s profitability. Unlike the vast majority of prior works that investigated the sustainability practice–firms’ profitability nexus from the firm level, this study originally probes this relationship from the country level by considering the sovereign ESG sustainability activities. To attain this purpose, we focus on banking sectors operating in Gulf Cooperation Council (GCC) economies and employ the panel-fixed effects and panel-corrected standard errors approaches between 2000 and 2022. Remarkably, the findings uncover that the nexus between combined sovereign ESG and profitability is a non-linear and inversed U-shape (concave), implying that investing in sovereign ESG enhances the banking sector’s profitability. However, after exceeding an inflection point (0.349), its effect turns out to be negative and it develops into activities of destruction. Furthermore, the findings underscore that the association between individual sovereign environmental responsibility and the banking sector’s profitability is a non-linear U-shape (convex), while an inversed U-shaped (concave) nexus is uncovered for the individual sovereign social and governance activities. Moreover, the significant non-linear inverted U-shape for the combined sovereign ESG–stability nexus corroborates that financial stability is a channel through which sovereign ESG significantly impacts profitability.

Labor camps in Dubai: implications of courtyard regulations on daylight performance

PurposeThe fundamental aim of the study is to investigate the implications of labor housing designs in Dubai, with a focus on courtyards and the governing building regulations, on daylight performance as an underlying factor impacting laborers’ indoor environmental quality. Several studies shed light on the subject of labor camps and labor migration in Dubai, but few have focused on the subject from the perspective of the environmental performance of these camps. A model that represents one of the labor camps was built using Rhinoceros 7.0 and Grasshopper software packages. Annual daylighting and glare simulations were carried out using the lighting modeling engine RADIANCE 5.0 in conjunction with the “ClimateStudio”.Design/methodology/approachThe construction sector has emerged as a significant economic development driver, attracting a diverse labor force from a variety of countries to Dubai. As a result, Dubai authorities have implemented several measures to ensure the provision of suitable housing facilities for its labor force. These measures contribute to the reduction of energy costs in labor housing by encouraging the use of renewable energy. While several studies shed light on the subject of labor camps and labor migration in Dubai, few have focused on the subject from the perspective of the environmental performance of these camps.FindingsThe study provided statistical evidence that the current regulations governing courtyards in labor housing resulted in significant changes in daylight levels across different floor levels of the labor housing units. It is suggested that both 2:3 and 3:4 Court Width-to-Height ratios would further contribute to a more consistent daylight Illuminance with marginal statistical differences between floor levels (p &gt; 0.05). The 3:4 ratio, on the other hand, offers a consistent distribution across all floor levels in the North and South with negligible variances, although weakly significant differences can be yet expected between the first and fourth floors in the East and West orientations (p &lt; 0.05). The results of Annual Sunlight Exposure (ASE) suggest excessive solar incidence and a high probability of glare, which remains a problem that must be addressed under the governing building regulations.Originality/valueThis study could serve as a framework for analyzing and contrasting the findings of other studies on labor accommodation, notably in the Gulf Cooperation Council (GCC) countries. Such an approach has the potential to enhance living conditions in labor accommodations in Dubai and other areas. It is necessary to meet people' physical and psychological well-being while also addressing sustainability and regulatory compliance.

A system dynamics approach to management of water resources in Qatar

Rapid global population growth and extensive urbanization threaten water sustainability, hindering sustainable development. This issue is particularly acute in arid regions such as the Gulf Cooperation Council (GCC), where the scarce natural water resources are overexploited. Effective water resource management (WRM) is pivotal in overcoming this challenge. This holistic study presents an innovative approach to address water sustainability at a national scale by developing a WRM decision support system (DSS) leveraging system dynamics modeling (SDM). Employing a unique scenario design framework developed in this study, the DSS simulates Qatar's water resource system behavior for 2021 to 2070 according to nine clustered policy scenarios presenting different degrees of sustainability designed accounting for changes in physical, environmental, and socioeconomic patterns. Our results reveal that the “business-as-usual” (BAU) WRM policy can balance water supply and demand for only 32 years. According to the best policy scenario, the sustainability of the water supply could be ensured for up to 50 years by increasing the water supply by 10 % and reducing consumption by 10 %. Additionally, to aid policymakers in fostering water resource sustainability, groundwater conservation strategies are proposed using the unique scenario design framework by limiting the yield to the safe abstraction level and emphasizing the significance of preserving non-renewable groundwater resources as a “backstop” resource for the country. While marking the first holistic research study in Qatar by utilizing the SDM approach to tackle national-scale WRM challenges, the established WRM DSS model is equally applicable to other GCC countries and similar arid regions.

Impact of the assertive and advisory role of internal auditing on proactive measures to enhance cybersecurity: evidence from GCC

Purpose This paper aims to examine the impact of the assurance and advisory role of internal audit (ADRIA) on organisational, human and technical proactive measures to enhance cybersecurity (CS). Design/methodology/approach The questionnaire was used to collect data for 97 internal auditors (IAu) from the Gulf Cooperation Council countries. The authors used partial least squares (PLS) to test the hypotheses. Findings The results show a positive effect of the ADRIA on each of the organisational proactive measures, human proactive measures and technical proactive measures to enhance CS. The study also found a positive effect of the confirmatory role of IA on both human proactive measures and technical proactive measures to enhance CS. No effect of the confirmatory role of IA on the organisational proactive measures is found. Research limitations/implications This study focused on only three proactive measures to enhance CS, and this study was limited to the opinions of IAu. In addition, the study was limited to using regression analysis according to the PLS method. Practical implications The results of this study show that managers need to consider the influential role of IA as a value-adding activity in reducing CS risks and activating proactive measures. Also, IAu must expand its capabilities, skills and knowledge in CS auditing to provide a bold view of cyber threats. At the same time, the institutions responsible for preparing IA standards should develop standards and guidelines that help IAu to play assurance and advisory roles. Originality/value To the best of the authors’ knowledge, this is the first study of its kind that deals with the impact of the assurance and ADRIA on proactive measures to enhance CS. In addition, the study determines the nature of the advisory role and the assurance role of IA to strengthen CS.

A Sustainable Water Resources Management Assessment Framework (SWRM-AF) for Arid and Semi-Arid Regions—Part 1: Developing the Conceptual Framework

The evaluation of water resources management practices is essential for water usage decisions in regions with limited water resources. The literature provides numerous assessment frameworks, but many ignore the unique characteristics and conditions of some special arid and semi-arid regions, such as the Gulf Cooperation Council (GCC) countries, which lack any permanent rivers or lakes. Thus, this study, the first in a two-part series, seeks to develop a conceptual Sustainable Water Resources Management Assessment Framework (SWRM-AF). General and particular criteria explain how components and indicators were identified. The conceptual SWRM-AF provided here has four components (environment, economy, society, and infrastructure) and 24 indicators. Almost every indicator has been selected from the literature and is briefly explained and justified. This research presents, possibly for the first time, clear and straightforward directions for evaluating each indicator in colour-coded tables. To create a more holistic framework for arid and semi-arid regions, social indicators like “intervention acceptability” and environmental indicators for assessing the impacts of desalination treatment plants have been added to form a unique framework applicable to such regions. Therefore, the components and indicators of conceptual SWRM-AF could work collectively to aid the process of decision-making. The next phase is validating this framework using a participatory approach.

Disease burden and projection of total and early-onset colorectal cancer in Gulf cooperation council countries from 1990 to 2019

BackgroundEarly-onset colorectal cancer (EO-CRC) incidence and prevalence trends in the rise in high income countries, such as the Gulf Cooperation Council (GCC) countries. The study aimed to offer an up-to-date assessment of the overall burden of CRC, and EO-CRC in GCC countries and project its incidence and mortality in 2030. MethodThe prevalence, incidence, mortality, years of life lived with disability (YLDs), and disability-adjusted life years (DALYs) of CRC were obtained from the Global Burden of Disease (GBD) Study 2019. The incidence and mortality of CRC, and EO-CRC up to 2030 were predicted. ResultsAll GCC countries showed a higher annual average percentage changes (AAPC) AAPC incidence rate for EO-CRC compared to CRC. In Saudi Arabia the number of CRC cases has increased from 1990 1484.57; (95 % UI 1987.98,1083.86) 11.4-fold-increase to 16991.83; (95 % UI 21754.79,12892.12) in 2019. In 2030, the total incidence cases of CRC for the six Gulf countries are expected to reach 13,339 thousand, primarily driven by Saudi Arabia with 7,910.19 cases. In 2030, the CRC mortality rate is projected to be 7,647 cases, with nearly 57 % of CRC mortality cases anticipated in Saudi Arabia. ConclusionThis study sheds light on the alarming rise in CRC and EO-CRC across Gulf countries from 1990 to 2019, emphasizing Saudi Arabia's significant burden. It projects a concerning increase in CRC incidence and mortality by 2030, primarily in Saudi Arabia, and highlights the need for immediate public health interventions.

Residency and citizenship in the Gulf: recent policy changes and future implications for the region

Citizenship and residency laws in the Gulf Cooperation Council countries developed during a similar time period, with similar influences, and as a result had common characteristics. In recent years, this has begun to change, with new pathways to permanent residency and citizenship developing in the region. This paper takes a comparative case study approach to analyzing the policy changes in Saudi Arabia, Qatar and the United Arab Emirates, and then explores the implications thereof. Broadening the pathways for permanent residency and citizenship offers opportunities (e.g., reversing financial outflows, increasing domestic investment and savings, attracting foreign direct investment and skilled talent) while it also presents risks (e.g., contesting traditional forms of belonging and entitlement, reducing social cohesion, and creating new forms of inequalities). While new pathways have indeed emerged, these pathways are designed for specific types of people, defined by the criteria or requirements of them. The unique policies of the three countries imply unique directions for the economies, demographic transitions, and socio-political cultures of the region.

Treatment of intellectual property in the bankruptcy legal framework of the GCC states

The Gulf Cooperation Council (GCC) states have made a number of efforts to reform bankruptcy laws in recent years. The modernization of bankruptcy law in GCC countries presents the question of how IP assets and bankruptcy proceedings relate and intertwine. Problems for insolvency proceedings centre on valuation. An even more complicated but extremely common scenario is when the IP is licensed. Licensing effectively creates a new ‘sub-bundle’ of rights from the original property rights. Another issue is the classification of a licence and whether it is a property right or a contractual right, or some type of hybrid creature. Complications are exacerbated by the fact that many IP licence agreements will contain an ipso facto clause. The purpose of this article is to address these issues by examining the laws of the UAE, Kuwait and Saudi Arabia, and how IP assets are treated in bankruptcy proceedings.

Impact of Energy-Consuming Air Conditioning Systems on People's Thermal Comfort and Preferences: Comparative Study of Iraq and Gulf Cooperation Council Countries

This study investigates the impact of the intense usage of air-conditioning systems on the thermal comfort requirements of building occupants. It compares the thermal comfort requirements of building occupants in Iraq and Gulf Cooperation Council (GCC) countries. Iraqis have limited usage of air-conditioning units, whilst people in GCC countries intensely operate these systems. Research work underpinning this article involved undertaking a year-long thermal comfort survey in Iraq, and an intensive analysis of thermal comfort studies conducted in GCC countries. Results show that, in Iraq, people experience a 2–50 °C annual indoor temperature range, and their annual comfort range is 14–35 °C. In GCC countries, due to the intense usage of air-conditioning systems, the widest recorded annual indoor temperature range is 17.2–31.0 °C, and the widest annual comfort range is 20.0–27.8 °C. These results demonstrate the significant impact of air-conditioning systems on narrowing the thermal comfort limits of building occupants leading to high energy consumption. This study presents a novel comparison between two cases highlighting the impact of air-conditioning systems on the thermal comfort requirements of building occupants. The results of this study can be used to inform the development of thermal comfort standards that better consider people’s adaptation capabilities to help reduce energy consumption for heating and cooling purposes.

Selection of municipal solid waste disposal technology using the Analytic Hierarchy Process and Genetic Algorithm for Gulf Cooperation Council Countries

Municipal Solid Waste (MSW) management represents a significant challenge in rapidly urbanizing regions, notably within the Gulf Cooperation Council (GCC) countries. This study focuses on Kuwait, exemplifying the GCC context, to identify the most suitable MSW disposal methods. We integrate the Analytic Hierarchy Process (AHP) with Genetic Algorithms (GA) for a comprehensive evaluation and optimization of disposal options, considering 13 criteria across economic, environmental, technical, and safety dimensions. Five disposal methods (landfilling, controlled dumpsites, composting, incineration, and refuse-derived fuel [RDF] combustion) are analyzed for their fit to Kuwait's unique environmental and socio-economic conditions. The AHP analysis highlights the paramount importance of "Health & Safety of Employees" (19.8%), "Water Pollution" (16.2%), and "Air Pollution Control" (15.4%) as criteria, underscoring a regional prioritization of health and environmental considerations over cost. Composting and RDF combustion emerge as the preferred disposal methods, with AHP-derived priority percentages of 22.7% and 22.3%, respectively. GA optimization further validates these methods as optimally aligned with the regional waste management framework. Conclusively, composting and RDF combustion are identified as the most feasible MSW disposal options for Kuwait, with potential applicability across the GCC, contingent on alignment with local economic and environmental policies. This research provides a critical foundation for policymakers and stakeholders in crafting sustainable, region-specific waste management strategies.

STABILITY OF SHARIAH-COMPLIANT STOCKS IN INDONESIA, MALAYSIA, AND GCC: THE ROLES OF MONETARY AND FISCAL POLICIES AND CONTAGION

This study examines the roles of monetary and fiscal policies and contagion in the market stability of Indonesia, Malaysia, and the Gulf Cooperation Council countries during the pandemic and post-pandemic periods from 2020 to 2023.  We find that fiscal policy measures, such as reserve requirements and the government expenditure-to-GDP ratio, stabilised the financial markets during the pandemic. As for monetary policy tools, while they had limited effectiveness during the pandemic, they regained significance in stabilizing the markets post-pandemic.  We also find that the patterns of market contagion patterns tend to vary across countries, with Qatar and Bahrain showing changing levels of contagion while Saudi Arabia, UAE, Kuwait, and Oman consistently displaying moderate to high contagion, the results that are in line with the adage, "when the U.S. sneezes, the global economy has a cold". The study's implications for managers and policymakers in Muslim-majority countries include robust risk management and contingency planning due to higher market contagion in economically integrated economies. Additionally, the limited impact of conventional monetary policies during the pandemic highlights the need to explore alternative approaches to enhance market stability during economic downturns.

The effect of Islamic development bank projects on economic growth in the Gulf Cooperation Council countries

The effect of Islamic development bank projects on economic growth in the Gulf Cooperation Council countries