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The purpose of the paper is to analyze the new Bankruptcy Law in Saudi Arabia (KSA Bankruptcy Law) under both a comparative lens and a policy-oriented one, while highlighting some of the most essential operational steps and procedures in a bankruptcy proceeding under the law.

The approach adopted analyzes the specific mechanics and procedures of a bankruptcy law under the general policies and goals of bankruptcy. Additionally, where appropriate, a brief comparison to the US Bankruptcy code and its provisions is presented to provide an alternative approach on how similar issues are handled under a reputable and proven bankruptcy system.

Overall, the KSA Bankruptcy Law is a major accomplishment and advancement to the Kingdom’s insolvency regime. The law consolidated and codified the laws governing bankruptcy under the Kingdom’s prior regime, and followed the structure of a modern bankruptcy regime. In doing so, several of the law’s policies and objectives have been fulfilled by providing an effective, predictable and reliable bankruptcy system.

Given the relatively recent adoption of the KSA Bankruptcy Law, the paper provides a comprehensive assessment of the law’s operation and its effectiveness in achieving its policy goals as a modern bankruptcy law.

Meta-organizations are crucial devices to tackle grand challenges. Yet, by bringing together different organizations, with potentially diverging views on these grand challenges, meta-organizations need to cope with the emergence of contradictory underlying social orders. Do contradictory orders affect meta-organizations’ ability to govern grand challenges and if so, how? This paper investigates these essential questions by focusing on the evolution and intermeshing of social orders within international governance meta-organizations. Focusing on the International Whaling Commission and the grand challenge of whale conservation, we show how over time incompatible social orders between the meta-organization and its members emerge, evolve and clash. As our study shows, this clash of social orders ultimately removes the “decidability” of certain social orders at the meta-organizational level. We define decidability as the possibility for actors to reach collective decisions about changing an existing social order that falls under a collective’s mandate. We argue that maintaining decidability is a key condition for grand challenges’ governance success while the emergence of “non-decidability” of controversial social orders can lead to substantial failure. We contribute to both the emerging literature on grand challenges and organization theory.

The quality of tourist accommodation establishments is a recurring theme in public strategies for planning and managing tourist destinations. The applying standards as a way to achieve quality. This strategy consists of legally regulating a series of minimum physical standards by using measureable parameters, as well as the desired characteristics or levels of amenities, which vary according to the type of provision required. The purpose of this study is to analyze the strengths and weaknesses of applying strategies that regulate standards for accommodations in coastal tourism areas in the Canary Islands (Spain).

The authors used an explanatory case study methodology. An “inter-case” comparison has been chosen, because the object of analysis (public policy applying tourism standards) has changed over time; furthermore, a content analysis approach was selected so that the subject of this research is the process of implementing this kind tourism policy. The result is a systematization of the process in stages.

Quantifiable criteria that exclusively consider the physical or operational parameters of a tourist establishment are no longer sufficient to provide quality service that meets the needs and expectations of customers. It is not enough to set standards for surface area parameters or essential amenities when organizing new tourist developments, but rather it is the qualitative aspect that must be addressed. At the same time, quality tourist accommodation establishment is not obtained merely by reducing density, which constitutes the significant standard.

This paper evidence is presented that may influence the quality of accommodation perceived by the client, which increases their level of satisfaction and, in turn, the degree of trust and, therefore, fidelity, understood as the future decision to repeat or not the tourist experience. There are also issues related to the approach that the quality of accommodation establishments has a direct effect on the visitor’s perception of the destination, which cannot be merely physical, mensurable in square metres.

The relationship between urban standards and quality is no longer linear. This determines that the regulated tourist accommodations (defined by sectoral regulations) it is common to set a required plot size in m2 based on the number of bed places offered by the establishment is no longer valid. Today, tourists rate accommodation establishments by the prestige of their brand or the diversity of services and experiences (entertainment, sensations, emotions, etc.) they provide. These experiences play such an important role in producing customer satisfaction and loyalty to a hotel that guests are willing to pay more for their stay, with the understanding that they will be able to experience certain emotions. It has been evidenced that the main reason for setting physical quality parameters that can be measured by a rating system for accommodation establishments, to provide a basic reference for customers, is no longer necessary, given the amount of easily accessible real-time information freely available through multiple independent channels based on the 2.0 paradigm, information technologies and communication, as well as applications and virtual platforms.

Applying this public strategy of classifying or rating tourist accommodations on a territorial scale has some strengths and weaknesses. However, it is not easy to find a comprehensive evaluation of the impact of such strategies because, among other issues, the public administration seems disinterested in measuring the consequences of their decisions, instead focussing on whether the formal legal requirements are being complied with. Moreover, whenever such assessments have been carried out, the discussion has been limited to the effectiveness of the implementation. This is why, beyond such purely mechanical responses, there are currently no studies or technical reports that specifically examine the positive or negative effects of such approaches. Evidently, these circumstances make any work analyzing this material relevant and timely. Likewise, the main reason for setting physical quality parameters that can be measured by a rating system for accommodation establishments, to provide a basic reference for customers, is no longer necessary, given the amount of easily accessible, real-time information freely available through multiple independent channels based on the 2.0 paradigm, information technologies and communication, as well as applications and virtual platforms.

The paper determines that the impact of the strategies of set a required plot size in square metres based on the number of bed places offered by the establishment is limited. Applying this public strategy of classifying or rating tourist accommodations on a territorial scale has some strengths and weaknesses. However, it is not easy to find a comprehensive evaluation of the impact of such strategies because, among other issues, the public administration seems disinterested in measuring the consequences of their decisions, instead focussing on whether the formal legal requirements are being complied with. Moreover, whenever such assessments have been carried out, the discussion has been limited to the effectiveness of the implementation. This is why, beyond such purely mechanical responses, there are currently no studies or technical reports that specifically examine the positive or negative effects of such approaches. Evidently, these circumstances make any work analyzing this material relevant and timely.

This paper identified the ṣukūk structure suitable for deficit financing during the COVID-19 crisis. The study also explored the relevant Sharīʿah contracts that could be utilized to issue ṣukūk that is suitable for various jurisdictions and corporations in handling deficit financing during the COVID-19 crisis.

The authors have adopted a qualitative research approach in which primary and secondary sources available on the subject were reviewed, especially a number of cases related to ṣukūk structures prior to and during the COVID-19 crisis and analyzed their performances and drawn their conclusions.

The outcome of this paper suggests that certain ṣukūk structures used during the COVID-19 crisis aimed primarily at financing deficit have been successful. Furthermore, these ṣukūk structures are relied very much on the obligator’s/issuer’s cash flow position. It has been revealed that if the ṣukūk is structured on equity-based contracts with lower repayment amount or no payment, it would not trigger default because the nature of this ṣukūk is the sharing of profit and loss, in accordance with a Sharīʿah rule that there will be compensation for any loss only if deliberate and notable negligence is proven. However, if it is debt based or ijarah and wakalah contracts, then the payment to ṣukūk holders ought to be made as agreed and if not, it will trigger default. This payment is to be made from the cash flow of the issuer and if there is an issue in the cash flow of the issuer due to COVID-19, consent from the ṣukūk holders needs to be obtained to reschedule payment as found in the case of the Garuda Indonesia ṣukūk. However, as found in MASB’s IMTN ṣukūk case, if the cash flow of the company is good, then the chances of default are very slim. However, so far, three new ṣukūk in the middle of COVID-19 were issued, one by a corporation and two issued by a sovereign, one of which addresses the liquidity issues during the pandemic, and all these proved that ṣukūk is definitely a viable alternative mode for deficit financing and a reliable option during the COVID-19 pandemic.

This paper looked into the ṣukūk structure, especially the ṣukūk which are yet to mature and the new ṣukūk issued during the crisis caused by the COVID-19 pandemic.

It is anticipated that the outcome of this research will assist the stakeholders in ṣukūk markets to understand the ṣukūk impact on COVID-19 related deficit financing and suggest various structures that could be utilized in the ṣukūk market in an unprecedented situation such as the COVID-19 economic distress.

Looking at the social aspect of ṣukūk markets, this paper has endeavored to provide solutions to the financing of deficit for social well-being as a tool to provide relief and social stability in the lives of the people.

The novel COVID-19 pandemic has caused unprecedented economic difficulties and market distress on a global scale; and this research sought to identify the relevant ṣukūk structures to be used for deficit financing during the pandemic crisis, especially the ṣukūk which are yet to mature and new ṣukūk issued during the pandemic crisis. The former includes HDFC Muḍārabah ṣukūk (2019) Maldives and MAHB ṣukūk/IMTN program (2010) Malaysia, while the latter includes IsDB Trust Certificates, Phase 2 of the tranches (2020), the Federal Government of Nigeria Road ṣukūk (May, 2020) and Sharj’ah Government two billion Dirham ṣukūk (June, 2020).

The purpose of this paper is to explore and establish the contours of trust in learning analytics and to establish steps that institutions might take to address the “trust deficit” in learning analytics.

“Trust” has always been part and parcel of learning analytics research and practice, but concerns around privacy, bias, the increasing reach of learning analytics, the “black box” of artificial intelligence and the commercialization of teaching and learning suggest that we should not take stakeholder trust for granted. While there have been attempts to explore and map students’ and staff perceptions of trust, there is no agreement on the contours of trust. Thirty-one experts in learning analytics research participated in a qualitative Delphi study.

This study achieved agreement on a working definition of trust in learning analytics, and on factors that impact on trusting data, trusting institutional understandings of student success and the design and implementation of learning analytics. In addition, it identifies those factors that might increase levels of trust in learning analytics for students, faculty and broader.

The study is based on expert opinions as such there is a limitation of how much it is of a true consensus.

Trust cannot be assumed is taken for granted. This study is original because it establishes a number of concerns around the trustworthiness of learning analytics in respect of how data and student learning journeys are understood, and how institutions can address the “trust deficit” in learning analytics.