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This paper aims to study the co-movement dynamics of Islamic equity returns to explain international portfolio diversification opportunities for investors having a heterogeneous stock holding period in light of Brexit.

The authors use the following three recent methodologies: the multivariate generalised autoregressive conditional heteroskedastic-dynamic conditional correlations, continuous wavelet transforms and maximum overlap discrete wavelet transform. Dow Jones Islamic country-based indexes are used from 2 September 2013 to 31 December 2019.

There is a high correlation between the United Kingdom (UK) Islamic stock market return with the Canadian, USA, Malaysian and Indian implying lesser diversification benefits for the investors. However, the results tend to indicate that UK Islamic stock market investors who have allocated their investment in Sri Lanka, Kuwait, Japan and Turkey have enjoyed diversification benefits. Besides, there is a declining correlation between UK Islamic stock markets and other selected markets aftermath of Brexit. Turkey seems the most volatile stock over the period, appealing to risk-lover investors to gain from price changes. When the shock occurs in the financial sector, the volatility is mean-reverting faster than other markets in Sri Lanka. On the other hand, Malaysia appears to have the least volatility implying a stable financial sector.

The results tend to shed light on effective portfolio diversification benefits in light of the recent shock (Brexit) between the UK Islamic stock index and other selected indexes that vary from country to country depending on investment horizons. This critically confirms the significance of heterogeneity in investment horizons and provides significant inferences for portfolio diversification strategies.

To the best of the authors’ knowledge, this study is the first study investigating the Brexit effect on Islamic stocks, guiding Shariah sensitive investors in their diversification strategies, providing information to investors to consider the implications of this incident on Islamic stocks for future shocks.

The increasing number of papers on zakah shows that it has become an important research topic. However, few studies attempt to analyze the evolution of zakah studies which might be helpful as guidance for policymakers in creating zakah management systems and policies, for zakah management organizations administering zakah funds, for future research on related subjects and for academic actors to construct a zakah study curriculum. This study aims to conduct a bibliometric analysis of the evolution of zakah theme publications from 1964 to 2021.

This study uses bibliometric analysis to analyze the evolution of zakah research. This study compared all Scopus-indexed journal papers to Zakah publications regarding research flow, themes, abstracts and titles. The relationships between researchers, the titles of the papers and keywords associated with “zakah” are analyzed in these publications published between 1964 and 2021. A total of 632 scientific contributions were discovered using RStudio and VOSviewer to analyze the bibliometric metadata.

Based on the results, the theme of zakah has evolved from 1964 to 2021. The author emphasizes the zakah publication theme. Each affiliation and country have its conditions, management method, data sources and characteristics. The theme “zakah institutions and zakah collecting” grew in popularity between 2010 and 2021 and is projected to grow in the following years. Malaysia, Indonesia and Pakistan can be used as zakah development research models. In spans of zakah publications, the author with the most global citations is Wahab N.A., and the author with the most productive is Saad Raj.

Zakah publications are analyzed using the Scopus database. This study applied only Scopus index data, excluding non-Scopus, and most studies conducted in non-English languages. This conclusion indicates the issue’s importance among academic researchers and practitioners, notably on the subject of zakah. Thus, a comprehensive picture of zakah theme publications assists researchers and zakah fund institutions in making assessments, focusing on the unstudied fraction of the zakah theme.

This research is planned to serve as a reference for future research, particularly examining the theme’s novelty. It is intended to have implications for policymakers, particularly zakah institutions, regarding funding the several zakah research issues and concentrations.

This research can guide future researchers and is expected to include parameters such as author, year and data source while analyzing zakah publications to generate new findings.

This is probably one of few comprehensive studies that examined the evolution of the zakah theme using the Scopus-indexed database. The relevance of this paper is to provide suggestions and projections for future zakah research. Scholars should examine zakah publications by author, year and data source to gain fresh insights. Search for data sources with high-impact factors and objective metrics, then clear out irrelevant documents to improve the analysis’ quality and findings.

The purpose of this paper is to use two recent US prosecutions of Turkish nationals for sanctions evasion, the Zarrab and Atilla cases, as case studies of recent developments in US sanctions law and law enforcement.

This paper uses primary sources (pleadings and other court documents) to articulate the key facts and arguments in the Zarrab and Atilla cases and to explain the sanctions evasion methodologies used by the group. This paper then draws out the lessons of these cases for the practice of financial crime compliance in banking institutions.

This paper highlights the expanding scope of US sanctions laws and the challenges for banks in complying with them. In particular, it shows the similarities between sanctions evasion and other financial crime methodologies, arguing that banks need to become more interdisciplinary in their operational approach to financial crime.

The Zarrab and Atilla cases are of international significance in sanction law. This paper is the first in-depth case study of these cases from a legal and compliance perspective.

The purpose of this study is to contrast the capacity of tourism-specialized and non-tourism-specialized systems in small developing insular societies to achieve a well-being model aligned with the Agenda 2030.

The empirical method of this work consists of a panel-corrected standard errors analysis for a total of seven Caribbean Small Island Developing States (SIDS) to measure the contribution of both economic diversification and tourism specialization to well-being in the Agenda 2030 framework. Time period considered in the analysis include 2005–2019.

Linear and nonlinear relationships reveal the need to conjugate both tourism specialization and economic diversification in the 2030-development agendas of small developing insular societies as both represent a means to achieve a well-being model aligned with the Agenda 2030.

One of the main novelties of this work is that development is analyzed from a multidimensional point of view (standard of living, access to education and health services), as an integrated thinking that considers any tourism development model that defines a route with Sustainable Development Goals (SDGs) and Agenda 2030 as main destination in SIDS. Specifically, practical implications are given combining recommendations to foster development and face poverty (SDG-1), while inequalities situations are reduced (SDG-10) and decent jobs are generated (SDG-8). These implications also focus on strengthening local suppliers of goods and services from other sectors to be integrated into the destination value chain (SDG-2), ensuring access to education (SDG-4) and contributing to gender equality (SDG-5).

这项工作的实证方法包括对7个加勒比海小岛屿发展中国家进行面板校正标准误差（PCSE）分析, 以衡量经济多样化和旅游专业化对2030年议程框架中的福祉的贡献。分析中考虑的时间段包括2005–2019年。

这项工作的目的是对比小型发展中岛国社会的旅游专业系统和非旅游专业系统的能力, 以实现与2030年议程相一致的福祉模式。

线性和非线性关系表明, 在发展中小岛国社会的2030年发展议程中, 需要将旅游专业化和经济多样化结合起来, 因为两者都是实现与2030年议程一致的福祉模式的手段。

这项工作的主要创新点之一是, 从多维的角度（生活水平、受教育机会和健康服务）来分析发展, 作为一种综合思维, 考虑任何旅游发展模式, 确定了一条以可持续发展目标和2030年议程为主要目的地的小岛屿发展中国家路线。具体来说, 在减少不平等状况（SDG-10）和创造体面工作（SDG-8）的同时, 结合促进发展和面对贫困（SDG-1）的建议, 给出了实际意义。此外, 要加强其他部门的货物和服务的当地供应商, 以融入目的地价值链（SDG-2）, 保证受教育的机会（SDG-4）和促进性别平等（SDG-5）。

El método empírico de este trabajo consiste en un análisis de errores estándar corregidos por panel (PCSE) para 7 Pequeños Estados Insulares en Desarrollo para medir la contribución al bienestar a través de la especialización turística y la diversificación económica en el marco de la Agenda 2030. El horizonte contemplado en el análisis incluye 2005–2019.

El objetivo de este trabajo es contrastar la capacidad de los sistemas especializados y no especializados en turismo dentro de las pequeñas sociedades insulares en desarrollo para lograr un modelo de bienestar alineado con la Agenda 2030.

Las relaciones lineales y no lineales revelan la necesidad de conjugar tanto la especialización turística como la diversificación económica en las agendas de desarrollo 2030 de las pequeñas sociedades insulares en desarrollo, ya que ambas representan un medio para alcanzar un modelo de bienestar alineado con la Agenda 2030.

Una de las principales novedades de este trabajo es que se analiza el desarrollo desde un punto de vista multidimensional (nivel de vida, acceso a la educación y servicios de salud), como un pensamiento integrado que considera cualquier modelo de desarrollo turístico que defina una ruta con los ODS y la Agenda 2030 como destino principal en los PEID. En concreto, se ofrecen implicaciones prácticas que combinan recomendaciones para fomentar el desarrollo y hacer frente a la pobreza (ODS-1), al tiempo que se reducen las situaciones de desigualdad (ODS-10) y se generan empleos decentes (ODS-8). Asimismo, fortalecer a los proveedores locales de bienes y servicios de otros sectores para que se integren en la cadena de valor del destino (ODS-2), garantizar el acceso a la educación (ODS-4) y contribuir a la igualdad de género (ODS-5).