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The purpose of this study is to examine the factors affecting deposit withdrawal intentions among Moroccan profit-sharing investment account holders.

Applying the push-pull-mooring (PPM) theory, a quantitative survey, based on insights brought to light by a previous qualitative study, was developed and administered to 166 depositors from five participatory banks at branches located in Morocco. Structural equation modeling was then used to evaluate the significance of relationships between the various variables under study.

Empirical findings showed that the PPM model with a second-order construct structure exhibited a better representation of the observed variables as compared to a first-order factor model. The results of the structural analysis indicated a significant direct relationship between withdrawal intention and each of the PPM model constructs: push and pull factors were found to have a positive impact on withdrawal intention, while mooring factors had a significant inverse relationship with withdrawal intention. The results of this study also revealed that the moderating role of the mooring construct was found in both relationships between push and withdrawal intention and between pull and withdrawal intention.

The absence of a longitudinal study measuring the actual withdrawal behavior is the main limitation of this study. Furthermore, withdrawal intention was examined without differentiating between individual and corporate depositors. Finally, despite being insightful, the empirical findings should be generalized with caution, as the sample was purposely chosen by the banks’ management.

This study implied that participatory banks should stress the importance of mooring factors, as they strongly inhibit depositors’ intention to shift their funds to the conventional banking system. Moreover, this study provides great indications to Moroccan regulators and policymakers on a number of issues that can be used to develop policies that could improve the participatory banking system.

To the best of the authors’ knowledge, this study represents the first attempt to confirm the effectiveness of the PPM model in examining depositor-withdrawal intentions. This study is also the first of its kind to address profit-sharing investment depositors’ apprehensions in the Moroccan context, to the best of the authors’ knowledge.

This study aims to systematically review the literature on modern Islamic finance transactions pertaining to Gharar dimensions. Gharar is defined as uncertainty that potentially leads to ambiguities and conflicts in contracts.

The articles reviewed in this study consisted of 13 articles related to Gharar published between 2013 and 2022. All selected articles were empirically and descriptively searched using specific keywords and strings. The main sources for this study were Scopus and Web of Science (WoS), whereas Google Scholar was a supportive database.

The review found that the dimensions that discussed previous research were trying their best to elaborating Gharar in modern financial transactions. They also demonstrate that rigorous study and deployment of the definition remain in the context defined by jurisprudence scholars. The focus of recent studies pertaining to Gharar is derivatives products that indicate high possibility of uncertainty in its operation.

This method relies heavily on the accessed database, namely, Scopus and WoS, also referred to the articles as recommended by the databases. Furthermore, the criteria of inclusion and exclusion of papers outlined by the authors deemed as an intrinsic limitation in writing systematic literature review.

To the best of the authors’ knowledge, this paper is original in its nature whereby the scholars had different comprehension on how Gharar exists in transaction but they still centred in its original meaning of uncertainty. As a result, this paper also realized how Gharar were interpreted differently relied on the contract’s nature and behaviour. In addition, this paper is expected to contribute to understand how Gharar been interpreted in modern finance transactions and finally reached to the point that further research is needed in establishing Gharar parameter for each contract in Islamic commercial law.

This study aims to synthesize the existing literature with insights gained from interviews conducted with regulatory experts. The objective is to analyse the challenges associated with incorporating cryptocurrencies into regulatory frameworks and to explore constraints in the regulatory institutionalization of cryptocurrencies.

The study methodology consists of two steps. The first step is to identify regulatory constraints in the literature review and in the next step, interviews are conducted with officials of the State Bank of Pakistan (SBP). The study used a qualitative case study methodology, in which a single case (regulatory constraint) was selected as a unit of analysis.

The findings show that lack of traceability, legal status, lack of governmental control due to decentralization, difficulty enforcing laws, volatility, lack of skills with regulators and difficulty integrating cryptocurrencies into the current financial system are the main obstacles to the introduction of a regulatory framework. Thus, on a broader conceptual level, the findings can be grouped into opportunism, lack of strategic capability and fragmented global laws.

This study could inform global cryptocurrency regulation discussions, sharing a developing country’s views on balancing the government, central banks, the financial sector and public interests. This could guide countries to consider cryptocurrency adoption in similar situations. This could affect the cryptocurrency market, impacting demand, supply and investor trust in Pakistan.

The study has implications for policy making officials. The research aims to offer valuable insights to the SBP and other regulatory authorities, helping them identify potential risks and create an effective regulatory framework for cryptocurrencies.

The study has implications for society in knowing about the volatile nature of cryptos and anonymity of their issuers, which poses regulatory constraints. This then implies its harmfullness to its traders and the huge losses that may arise from their trading due to its volatile nature.

This study contributes to the literature on the constraints, responsibilities and consultation framework of cryptocurrency regulations.