Cash Waqf in Morocco: Opportunities and Challenges

This paper attempted to investigate different aspects of cash waqf in Morocco including shari’ah background, legal lesgislation and its modern applications.  An online survey questionnaire was designed and distributed among 100 participants representing different educational and professional backgrounds. Secondary data was obtained from literature study based on books, articles, reports besides e-books and web sites. The findings indicate that cash waqf, if applied properly in Morocco, will help in reducing unemployment and alleviating poverty and therefore increase confidence among more Moroccans to contribute to the economic growth and to the welfare of their society. A number of recommendations and suggestions was proposed to the Moroccan Government to reform the current structure of waqf to be more inclusive

Banks and FinTech Relationship in a Digital Transformation Context

The main function of digitalization is to make relationships more flexible and less framing, while allowing simpler and faster communication and more important data exchange. The digitalization of the banking sector is reforming it in its most profound axes. Its functioning, its organization, its interactions, its products, all have been modified, including back-office functions. The digital infrastructure has accelerated the emergence of new technologies: social media, cloud computing, analytics and big data, wearable devices, etc. This new technological wave has led to the emergence of new entrants in the financial sector. Financial technology, also known as FinTech, is an industry composed of diversified firms that combine financial services with innovation technologies offered to financial service providers (MoroVisconti, R. et al, 2020). Banks will have to engage in further cost-cutting since they remain shockingly costly, which partly explains the market penetration by FinTechs (Philippon, 2016). They offer unbundled low-cost services which makes them very competitive with banks. Therefore, the relationship between the two may be quite competitive because of the similar operations. In this article we will be discussing the nature of banks and FinTechs’ relationship, starting with a literature review and then a survey discussing these two financial structures.&nbsp

DeFi, Blockchain and Cryptocurrencies: Proposing a Global Money Matrix for the Blockchain Era

Unlike early civilizations with an entire economy built around agriculture and the practicality of the barter system, today's complex economies require immediate, low-cost transactions.  The digitalization of transactions is helping economies develop through various new assets and currencies. The appearance of  DeFi, CBDC’s, and many blockchain based systems has created a bit of a debate among researchers.  Consequently, the matter maintains a certain ambiguity, which requires more research. In this paper, we will be discussing how blockchain is revolutionizing the financial sector, by creating decentralized finance and central banks’ digital currencies. We will then propose a new global money matrix starting with a short literature review of existing definitions and categorizations since there still is a lack of understanding and standardization of currency categories, especially digital currencies. Then we will do the same for CBDC by categorizing it by component: participants, categories, and application scenarios

Proposing a New Managerial Model for Digital Transformation

Digital transformation is a gateway to innovation and new models of organization, operations, and business models. The quick response of managers and leaders is becoming the key to successful digital transformation, followed by strategic flexibility according to data testing results. These results highlight the importance of agile leadership in today’s changing organizational environment (Fachrunnisa et al., (2020). Hence why it is imperative to take into consideration all employees’ perceptions of management to avoid resistance to change. Thus, in this research paper, we analyze the current managerial environment to better guide digital transformation through a survey destined for both managers and employees, assessing the current situation of organizational management from a diversity of perspectives. We then propose a new digital transformation managerial model based on significant correlations between the models’ variables using the Chi-squared test. &nbsp

Etude De L’exposition Des Banques Islamiques Au Taux D’intérêts Et De L’implication Sur La Gestion Actif-Passif

Theoretically, Islamic banks should not be exposed to the risk of interest rate fluctuations. Indeed, in the literature, Islamic finance is considered a finance without interest that stands out from conventional finance by means of profit sharing and losses. In practice, although Islamic banking products are not directly based on interest, several studies mentioned in this article have shown that these banks are not completely immune to this kind of risk. Moreover, unlike conventional banks, Islamic banks do not have the same flexibility to cover this risk since they do not use interest. So, the assessment of the level of exposure to interest risks and understanding its determinants is essential for studying the appropriate hedging strategies and the guarantee of stability of Islamic banks

La performance des indices boursiers islamiques pendant la crise de Covid-19

Notre étude a pour objet la comparaison de la performance de l’indice Dow Jones Islamic Index (DJII) par rapport à son homologue conventionnels Dow Jones index (DJI) de 9 pays pendant la crise de Covid-19 et post Covid-19. D’une manière générale, nous étudions l'impact de la finance islamique sur la structure des rendements boursiers de 9 pays qui ont une majorité de population musulmane et qui sont les prédécesseurs de l’intégration de la finance islamique. Les données ont été recueillies sur une période de 21 mois (janvier 2020 à septembre 2021), deux sous périodes ont été définies : la première allant de janvier 2001 à juin 2020(l’effondrement du marché), et la seconde, de juillet 2020 à septembre 2021(phase de reprise du marché). Les résultats révèlent que les indices boursiers islamiques DJII surperforment leurs homologues conventionnels DJGI en terme de rendement ajusté au risque pendant la crise de Covid-19 et post Covid-19. Dans la même tendance, les résultats du modèle Echarch confirment que les indices boursiers conventionnels DJI sont plus volatiles par rapport à leurs homologues islamiques DJII