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Bank lending is the major source of monetary expansion. Bank-led money creation is a key issue in both conventional and Islamic financial systems. The purpose of this paper is to examine the issues related to Islamic banking money creation. In this conceptual paper, the authors investigate the involvement of profit and loss sharing (PLS) in money creation and especially how can PLS limit money creation “out of nothing.” In this regard, the authors examine the potential of the PLS principle in tackling the excessive money creation phenomenon.

This study uses a normative approach regarding Islamic bank money creation that fits Sharia directives. In fact, this study discusses “what ought to be,” that is, the values and norms of PLS money creation that impede excessive money creation.

Overall, Islamic banks create money differently compared to conventional ones. Especially, by avoiding a purely financial intermediary, money creation under the PLS principle sustains a strong relationship with the real economy and leads to a lower money multiplier. Therefore, PLS mechanisms allow financing through real assets and not credit assets “out of nothing.” This could prevent excessive money creation from causing harmful effects on indebtedness and financial instability.

PLS offers a valuable resolution for banking system money creation through the optimization of Islamic bank financing by facilitating the separation of the monetary function from the credit one. This reform thought reinforces the stability value of money allowing it to fully perform its functions with reference to the directives of Sharia. This especially allows the integrity and purchasing power of money, the reduction of the gap between the evolution of both real and financial economies and, consequently, the indebtedness and crisis. It is recommended to promote PLS financing by reforming institutional and regulatory constraints.

This study addresses the contemporary issue of money creation by Islamic banks through the PLS approach. The conceptual framework of this paper highlights the reformist role of PLS in limiting money creation through Mudarabah approach within fractional reserve banking.

The purpose of this paper is to calculate the financial inclusion index and analyze its dynamics in developing countries.

The authors use the two-stage principal component analysis (PCA) method and consider financial technology innovations to improve the accuracy of the financial inclusion index.

The authors found a downward trend in the financial inclusion index in most developing countries over the study period. The authors also found that a high financial inclusion index is linked to high scores in the Doing Business and high business climate regulation ranking. In addition, the authors observed that the rates of low financial inclusion in developing countries are due to low utilization of and unequal access to financial services.

The analysis suggests that policymakers in developing countries could invest in digital infrastructure to extend access to financial services in remote areas. They could also encourage financial innovation, particularly in financial technologies, by adopting flexible regulatory frameworks. Promoting the financial inclusion of marginalized groups through targeted initiatives tailored to their needs is another solution. They could also encourage the use of financial services by raising awareness and educating populations through training programs. Finally, to improve the business climate, governments could simplify administrative procedures and promote transparency and legal stability.

Unlike previous studies, the use of the two-stage PCA method and the consideration of financial technology (Fintech) innovations such as mobile money in the determinants of the financial inclusion index improve the accuracy of the index.

Brief loving-kindness meditation (LKM) is introduced here as a valid social marketing intervention. LKM positively influences prosocial cognitions and affects. However, it remains unclear whether brief meditation interventions can influence prosocial behavior. This study aims to provide evidence of the effects of short LKM on prosocial behavior.

This study reports the results of three experiments examining the effects of brief LKM on donations to unknown others. The results are then integrated with the results of seven other studies testing the effects of brief LKM on prosocial behavior using a meta-analysis (n = 683).

LKM increased love more than the control group (focused breathing) in the three experiments; however, its effects on donations were mixed. The meta-analysis shows that LKM has a small-to-medium significant effect compared to active control groups (d = 0.303); moreover, age and type of prosocial measure used moderate the effects.

Results suggest that LKM can nurture prosocial emotions such as love and lead young individuals to donate. However, these emotions may not be sufficient to lead adult meditators to share their resources with unknown others. This study presents the first meta-analysis of brief LKM and provides insights into the use of meditation in social marketing programs.

Implementing the 17 Sustainable Development Goals (SDGs) unarguably demands huge financial investments. However, the United Nations has acknowledged the huge financial gap militating against the implementation of the SDGs worldwide, leading experts to question the possibility of complete implementation of the goals by their terminal dateline of 2030. While the bulk of the finance currently outlaid on the SDGs comes from traditional sources including foreign direct investments (FDIs), there is the need to focus more attention on developing and exploiting impact investments that are more suitable for financing development programmes and projects. In this chapter, the SDG implementation profiles of the 12 Arab West Asia countries concerning the five most targeted SDGs were evaluated and sustainable finance issues were discussed. Secondary data were retrieved from World Bank's DataBank. The data were descriptively analyzed. Based on the profiles generated, debt relief is put forward as a possible impact investment mechanism suitable for funding the SDGs. Specifically, this chapter recommends that outright cancellation of debts based on the debt-for-SGD swap could serve as some of the impact investments needed to boost the global drive for a developed, peaceful, and just world.

This study examines the role of institutions and governance on the digital financial inclusion and economic growth nexus in Sub-Saharan Africa (SSA) from 2014 to 2020.

This study adopts the generalised method of moments technique which controls for endogeneity. The authors employed four main variables namely, index of digital financial inclusion, gross domestic product per capita growth, institutions and governance.

The results suggest a significant positive effect of institutional quality and governance on the digital financial inclusion-economic growth nexus in SSA. Furthermore, the authors find that effect of trade and population growth on economic growth was significantly positive while inflation reduces economic growth in the region.

This study also ignored the effect of digital financial inclusion on environmental quality. Future researches should focus on addressing these drawbacks and replicating the study in Africa as a whole and other developing countries across the world that are experiencing digital financial inclusion and economic growth challenges. The results from the study imply that a positive relationship between digital financial inclusion and economic growth. It is important to note that the study was carried out on the premise that institutions play a pivotal role in enhancing economic growth in SSA.

The results confirm the significance of policies that enhances institutional quality and governance which are other avenues the authorities can pursue to enhance economic growth in SSA.

The paper documents the importance of institutions in boosting economic growth which impacts on social life rather than digital financial inclusion only.

The paper makes a contribution through analysing the role of institutions and governance on the digital financial inclusion-economic growth nexus rather than the traditional financial inclusion–economic growth nexus which is common to the majority of the available empirical studies.

This study aims to understand consumer behaviour in the context of online food delivery (OFD), especially given the mandatory lockdown imposed in some countries that have modified the behaviour of consumers. Using model goal-directed behaviour (MGB), this study was conducted to investigate consumer perceived risk on the use of OFD services.

Responses of food delivery services users were collected online throughout April 2020 to understand their risk profile and behaviour. A total of 339 responses were collected and subsequently analysed using partial least square (PLS). Both measurement and structural model were evaluated to ensure that the structural equation modelling (SEM) is valid.

The results revealed that attitude (ATT), subjective norm (SN), positive anticipated emotion (PAE) and negative anticipated emotion (NAE) and perceived behavioural control (PBC) significantly influenced users' desire. It was also found that PBC significantly influenced users' intention. The empirical result suggests that performance, privacy, financial, physical and the risk of contracting COVID-19 negatively influenced users' desire. In contrast, only physical and the risk of contracting COVID-19 negatively influenced users' intention to use OFD services.

These findings provide OFD service providers and scholars with significant insights into what compels urbanites to adopt OFD services amid a health pandemic. It also allows OFD companies to realign their operation in addressing these concerns and changes in consumer behaviour.

Against the backdrop of the pandemic, this study provides insights for OFD providers in developing new strategies and approaches for business development and consumer retention in a post-pandemic world.

本研究擬瞭解與網上訂餐相關的消費行為；尤其當有些國家推行了改變消費者行為的強制性封鎖政策的情況下，這類研究更具意義。透過應用目標導向行為模型，本研究擬探討消費者在使用網上訂餐服務時所意識到的風險。

研究人員於 2020年4月網上收集使用訂餐服務人士的意見，以瞭解其風險狀況和行為。研究共收集了339位人士的意見，並以偏最小二乘法進行分析。測量和結構模型均加以評估，以確保結構方程模型是站得住腳的。

研究結果顯示，態度、主觀規範、預期的正面和負面情緒、以及感知的行為控制，顯著地影響了用戶的慾望。研究結果亦發現，感知的行為控制顯著地影響了用戶的意圖。研究的經驗性結果暗示了表現、私隱、金錢上的爭議、可能會導致的身體損傷和感染2019冠狀病毒病的風險，負面地影響用戶的慾望。相比之下，影響著用戶使用網上訂餐服務的意圖的因素就只有可能會導致的身體損傷和感染2019冠狀病毒病的風險。

研究的結果，為提供網上訂餐服務的營運者和研究學者提供了重要的啟示，使他們更瞭解是什麼因素會迫使都市人在與健康息息相關的大流行病期間使用網上訂餐服務。而且，提供網上訂餐服務的公司亦可藉此重新調整其營運，以能處理客戶的憂慮和應付消費行為的變化。

在大流行病肆虐的背景下，本研究為網上訂餐服務提供者給予了啟示，以便他們能在後疫情時代制定新的策略和營運方法，以拓展其業務和留住消費者。

This study aims to explore the determinants that impact state Islamic University/Perguruan Tinggi Keagamaan Islam Negeri students’ intention to adopt online cash waqfs. In doing so, this study integrates knowledge of cash waqf and trust variables within the theory of planned behavior (TPB), allowing an examination of the mediating role of TPB variables and trust within the relationship between knowledge of cash waqf and intention for online cash waqf behavior.

To carry out an empirical analysis, the authors developed a well-structured questionnaire and distributed it to a group of students currently enrolled in PTKIN, obtaining 443 usable responses. The partial least squares-structural equation modeling (PLS-SEM) technique was used for the dual purposes of data analysis and hypothesis testing.

This study demonstrates that factors such as attitude, subjective norms, perceived behavioral control, trust and knowledge of cash waqf have a significant and favorable influence on the intention to donate through e-cash waqf. Knowledge of cash waqf impacts attitudes, subjective norms, perceived behavioral control and trust. The final analysis shows that attitude, subjective norms, perceived behavioral control and trust partially mediate the relationship between knowledge and intention in the online cash waqf context.

The aforementioned elucidates the paramount importance of trust in shaping individuals’ tendencies to engage in cash waqfs. The insights mentioned have the potential to be used by cash waqf establishments to promote transparency and accountability, ultimately bolstering the confidence of potential donors.

The concepts of waqf and the use of online cash waqf as a means of donation in developing countries are relatively new. In this study, the intention of students to adopt online cash waqf was predicted for the first time by considering their knowledge of cash waqf and their trust in online cash waqf transactions.

This study examines the non-linear impact of financial development on income inequality and analyses the mediators through which financial development affects income inequality.

The study uses a dynamic panel threshold method with an endogeneous threshold variable on a comprehensive sample of 85 countries over the period of 1996-2015.

The author finds that financial development activities increase income inequality in developed countries. However, financial development promotes income equality in developing countries. Further, the study finds that education and institutional quality are the channels through which financial development has non-linear impacts on income inequality.

The study explores relatively new method to examine the nonlinear impact of financial development and also considers new dataset for the main explanatory variable.

Higher education institutions (HEIs) play a pivotal role in fostering economic development by cultivating skilled workforce and generating knowledge and innovation. However, HEIs may pose a potential risk to sustainable economic development due to the generation of food waste inside their campus canteens. Therefore, this study aims to examine the influence of attitude, subjective norm (SN), perceived behavior control (PBC), religiosity and pro-social behavior among State Islamic Religious College (SIRC) students on their intention to avoid food waste behavior. This study also focused on the mediating role of the three original theory of planned behavior (TPB) variables and pro-social behavior in the relationship between religiosity and the intention to reduce food waste.

Questionnaires were used to collect data from 443 students at SIRC. The collected data were processed and analyzed using structural equation modelling to test direct, indirect and mediating effects.

The empirical results indicated that the eagerness of students at SIRC to reduce their behavior of leaving food behind can be driven by their negative attitudes or views toward food waste, the practice of religious teachings in their lives, the belief that they can avoid food waste and their concern for the environment. The empirical results reveal that even though religiosity influences SN, it is unable to strengthen the relationship between religiosity and the desire to be anti-food waste.

In addition to contributing to the food waste literature in the context of eating behavior, the results of this study have theoretical and practical implications.

To assess SIRC students’ behavioral intentions to avoid food waste behavior, this study used a contemporary setting to measure attitude, SN, PBC, religiosity and pro-social behavior, so strengthening the TPB’s empirical underpinning.