Relationship Between Immaterial Capital and Performance of Islamic Banks: Empirical Study of Listed Banks in Bahrein and United Arab Emirates

The aim of this study is to investigate the relationship between immaterial capital and financial performance of eighteen listed Islamic and conventional banks in Bahrein and United Arab Emirates for the year 2018. Data is obtained from annual reports of banks. The approach used to analyze the efficiency of banks is Value added intellectual coefficient (VAIC). The financial performance of the selected banks for this study is evaluated by ROA and ROE measures. The immaterial capital (and its components human capital and structural capital) of banks have been analyzed and their impact on financial performance has been estimated using multiple regression technique. The results show that the VAIC value is the same for Islamic banks and conventional banks. The findings show that VAIC is positively associated with ROA while the three components of VAIC showed mix results on banks’ performance. In the context of knowledge economy, the VAIC approach may be convenient for the banks and policy makers to integrate the immaterial capital in the decision-making process. A future study including listed banks in all countries of Gulf Cooperation Council (GCC) could provide a better evaluation of the impact of immaterial capital on financial performance for the banking sector, especially Islamic banking. Keywords: Immaterial Capital, Performance, Islamic Banks, Efficiency, Value Added Intellectual Coefficient (VAIC) DOI: 10.7176/JESD/11-6-07 Publication date:March 31st 202

Relationship between Corporate Social Responsibility and Financial Performance in Islamic Banking

The aim of this study is to evaluate the level of Corporate Social Responsibility Disclosure in Islamic banks and to analyze the relationship between performance indices Return On Average Assets (ROA) and Return On Equity (ROE) with the corporate social responsibility disclosure. An empirical analysis is conducted, based on the annual reports of 8 Islamic banks for years 2009 and 2010.  A Corporate Social Responsibility Disclosure Index (CRSDI) is constructed. To verify the link between ROA, ROE and CSRDI, regression models are run. The results indicate a lack in disclosing Corporate Social Responsibility, and the regression models show that there is no relation statistically significant between performance indices (ROA, ROE) and CSRD index. Keywords: Islamic bank, ROA, ROE, Corporate Social Responsibility Disclosure, Regression, Content Analysi

Sukuk or the Green Sukuk: a promising opportunity for the financing of renewable energies

Sukuk are the most widely used Islamic financial instruments for project financing. These are generally investment certificates that allow the investor to pay a return linked to the performance of the underlying project with the repayment of the invested capital initially in accordance with an agreed timetable. The Sukuk were subject to Several innovations to meet the financing and investment needs of Islamic finance products. Currently, and more precisely since 2012, a new type of Sukuk was born and takes as label "Green Sukuk". These are Sukuks that deal with climate change related projects including renewable energy. The objective of this paper is to diagnose the financial performance of Sukuk portfolios based on models of modern portfolio theory and compare them to conventional bonds. We are interested in the potential of the Sukuk for the financing of renewable energies, particularly in Morocco. We examined the performance issue based on a set of Sukuk and bond indices of the Thomson Reuters BPAM All-Bond Index series. The results indicate an outperformance of the Sukuk portfolios for the three performance indices.The Sukuk have demonstrated their viability and performance and are attracting investors interested in socially responsible finance, particularly with the introduction of a new Sukuk segment for renewable energy projects. Morocco thus has every chance of acquiring the financing of its green energy momentum by opening to the opportunity offered by the Sukuk, the Sukuk issue being now possible after the amendment of Law 33- 06 related to securitization and introducing the Sukuk issuing framework to the Kingdom.Keywords. Sukuk - bonds - performance - Sharpe - Treynor - Jensen's Alpha - Green Sukuk - renewable energy (EnR)

Déclaration d'Errachidia et lignes directrices pour le développement durable des écosystèmes oasiens

Les actes de la 1re Rencontre scientifique internationale sur les oasis, ISMO 2023, se sont concentrés sur le thème ''Quel apport de la recherche scientifique pour la sauvegarde et le développement des oasis?'' et ont eu lieu à Errachidia du 20 au 22 novembre 2023. The proceedings of the 1st International Scientific Meeting on Oases, ISMO 2023, focused on the theme ''What contribution does scientific research make to the preservation and development of oases?'' and took place in Errachidia from November 20 to 22, 2023