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This study investigates the role of market concentration and efficiency in banking system stability during the COVID-19 pandemic. We empirically test the hypothesis that market concentration and efficiency are significant determinants of bank performance and stability during the time of crises, using a sample of 575 banks in 20 countries in the Middle East and North Africa (MENA).

The main sources of bank data are the BankScope and BankFocus (Bureau van Dijk) databases, World Bank development indicators, and official websites of banks in MENA countries. This study combined descriptive and analytical approaches. We utilize a panel dataset and adopt panel data econometric techniques such as fixed/random effects and the Generalized Method of Moments (GMM) estimator.

The results reveal that market concentration negatively affects bank profitability, whereas improved efficiency further enhances bank performance and contributes to the banking sector’s overall stability. Furthermore, our analysis indicates that during the COVID-19 pandemic, bank stability strongly depended on the level of market concentration, but not on bank efficiency. However, more efficient banks are more profitable and stable if the banking institutions are Islamic. Similarly, Islamic banks with the same level of efficiency demonstrated better overall financial performance during the pandemic than their conventional peers did.

The main limitation is related to the period of COVID-19 pandemic that was covered in this paper (2020–2021). Therefore, further investigation of the COVID-19 effects on bank profitability and risk will require an extended period of the pandemic crisis, including 2022.

This study provides information that will enable bank managers and policymakers in MENA countries to assess the growing impact of market concentration and efficiency on the banking sector stability. It also helps them in formulating suitable strategies to mitigate the adverse consequences of the COVID-19 pandemic. Our recommendations are useful guides for policymakers and regulators in countries where Islamic and conventional banking systems co-exist and compete, based on different business models and risk management practices.

The authors contribute to the banking stability literature by investigating the role of market concentration and efficiency as the main determinants of bank performance and stability during the COVID-19 pandemic. This study is the first to analyze banking sector stability in the MENA region, using both individual and risk-adjusted aggregated performance measures.

In light of the key role attributed to the board of directors as a monitoring tool to constrain earnings management practices, this study aims to examine the effect of some board attributes on accrual-based earnings management and real earnings management in the Middle Eastern and North African (MENA) context, whose institutional, economic and legal environment is markedly different from that of most organization for economic cooperation and development countries.

The authors selected a sample of 161 nonfinancial companies from nine MENA countries between 2014 and 2021 (corresponding to an unbalanced data panel of 486 observations). The authors used the generalized least squares regression test to examine the relationship between board attributes and earnings management.

The authors found that three board attributes (size, independence and gender diversity) have no effect on both types of earnings management practices, while CEO duality has no effect on accrual-based earnings management but has a significant and negative effect on real earnings management. Overall, the results suggest that most board attributes do not play a crucial role in reducing earnings management.

The results provide valuable insights into the universal role of corporate governance mechanisms and raise questions about the role of the board of directors in improving reporting quality in the MENA context.

Regulators should adapt corporate governance mechanisms to the characteristics of the institutional context in which they are inserted.

To the best of the authors’ knowledge, this study is the first to examine the effect of various board characteristics on both types of earnings management practices in the MENA context. It also provides the first empirical evidence of the relationship between board gender diversity and earnings management in the MENA region.

This chapter offers a survey of education development in the Middle East and North Africa region (MENA), and how the different crises have changed the global dynamics in education. This chapter first gives an overview of the regional context and the history of education in the region, followed by a discussion of the education developments in the region as shaped by the economic growth of high-income countries and the political upheavals in low-income countries. MENA states have made huge investments in their educational systems through implementing major changes in the education policies and introducing initiatives to improve the quality of education in their countries. However, the educational system in the region has not reaped the benefits of these reforms as it has not met the desired goals. The quality of students’ learning is very low as reflected in the poor rating by international assessments such as PISA, TIMSS and PIRLS. Structural educational reforms to foster citizenship and civic responsibility are urgently needed. Good governance of the education systems of the MENA countries, a critical thinking skills-based curriculum and strong market-oriented skills and vocational training programs are necessary for MENA to become economically competitive and reliably democratic.

This chapter studies the properties and characteristics of the Middle East and North African (MENA) stock markets, and the prospects and implications of enhanced financial liberalization in the region. It also explores whether these markets can offer international investors unique risk and returns characteristics to diversify international and regional portfolios. Johansen co-integration tests reveal that the Gulf Cooperation Council equity markets still offer international investors the portfolio diversification potentials mainly through mutual funds, while other emerging MENA stock markets like those of Turkey, Egypt, Morocco, and to a lesser extent Jordan have matured, and are now integrated with the world financial markets.

Purpose: Middle East and North Africa (MENA) countries demonstrate outstanding potential for innovative entrepreneurship due to the undiversified economy it has. The chapter unravels knowledge management’s scope to convert the MENA into a knowledge economy while ensuring sustainable development. Knowledge management through digitalization, big data analytics, and other technology-enabled practices could be embraced through various knowledge clusters and innovation networks.

Design/methodology/approach: The chapter proposes a conceptual model based on the quadruple helix model of innovation and associated knowledge and innovation networks operating together through a technology-enabled knowledge management process. MENA’s current status and expected performance are analyzed based on the given model.

Findings: An emergent need to digitalize the institutional operations, and knowledge flow from the four helices of innovation is realized. To ensure economic sustainability, MENA countries need to work on political stability, transparency, and accountability to ensure the flow of reliable knowledge in the knowledge management process. Building human competencies and skills is still a challenge for many MENA countries. Hence, education institutes need to introduce academic programs that are compatible with the labor requirement of the area. Since the region has a youth population in large proportion, human capital formation can bypass the over-population and unemployment challenge and instead become a competitive advantage.

Originality/value: The given chapter explores the knowledge management process, capabilities, benefits, competencies from the perspective of sustainable growth in MENA countries. It also recommends extensive data operations and analytics to enhance the knowledge-based economy.