Meshari Al-Daihani

Purpose: The study aims to explore the role of good governance practices in addressing challenges faced by Islamic social finance institutions (ISFIs), with a particular focus on the Direct Aid Society in Kuwait. It examines how financial technology (FinTech) tools, specifically crowdfunding and digital payments, impact good governance standards in such institutions. Design/methodology/approach: A qualitative research approach was employed, combining official document analysis, library research and semi-structured interviews with key stakeholders, including board members, management and staff of the Direct Aid Society. This methodology provided an in-depth understanding of the interplay between governance practices and FinTech adoption. Findings: The findings demonstrate that FinTech tools significantly enhance good governance standards in the Direct Aid Society by improving transparency, trust, disclosure, accountability and financial stability. The study also highlights that these governance enhancements align with broader practices in ISFIs across the Gulf and Middle East regions. Practical implications: The study offers actionable recommendations for policymakers and practitioners on leveraging FinTech innovations to strengthen governance frameworks, ultimately enhancing transparency, accountability and financial sustainability in ISFIs. Originality/value: This study moves beyond the prevailing transactional focus in existing literature, which primarily assesses FinTech in terms of operational efficiency and fund mobilisation. It instead presents a structural evaluation of how crowdfunding and digital payment platforms implement key good governance standards, specifically transparency, accountability and responsibility, within donation-based ISFIs. Through an examination of the Direct Aid Society in Kuwait, this paper establishes how real-time digital tracking reduces traditional information asymmetries between remote donors and institutional management, thereby aligning practical governance practices with the ethical imperatives of trust and institutional legitimacy.

Crowdfunding, a modern scheme of raising funds via online platforms, has garnered significant attention in recent years. This study explores crowdfunding through the lens of Islamic jurisprudence, explicitly examining its compatibility with Maqasid al-Shariah (the high objectives of Islamic law). This study utilises a qualitative research approach to explore the harmonious alignment of crowdfunding practices with Islamic principles. The findings illuminate that, despite its modern guise, crowdfunding is profoundly rooted in Islamic traditions, bolstered by diverse interpretations of the Quran and foundational Islamic beliefs. Remarkably, the study affirms that crowdfunding resonates with the essence of Maqasid al-Shariah, especially in its remarkable potential to preserve and enhance wealth (Māl). The implications of this research are crucial for policymakers and Islamic institutions seeking to leverage crowdfunding for economic growth and financial inclusion while adhering to Shariah principles. This study contributes to the growing literature on Islamic finance and fintech, offering a unique perspective on the intersection of faith and technology in financial innovation.

This study investigates the contributions of five key sectors—insurance, materials, utilities, real estate, and transport—to the financial markets of six Gulf Cooperation Council (GCC) countries from 2004 to 2023. Grounded in the Sectoral Linkage Theory and Endogenous Growth Theory, the study employs a Panel Autoregressive Distributed Lag (Panel ARDL) model to examine both short-term and long-term sectoral impacts on financial market resilience. The findings reveal that the insurance and transport sectors offer short-term market stimulation, but lack persistent effects. Conversely, the materials, utilities, and real estate sectors exhibit strong, long-run contributions to financial stability and economic diversification. These results highlight the asymmetric impact of sectoral dynamics on market performance in resource-rich contexts. This research contributes to the literature by providing empirical evidence on sectoral interdependence in oil-dependent economies and highlights the importance of structural diversification for sustainable financial resilience. The study provides actionable insights for policymakers and investors seeking to enhance market resilience and reduce reliance on hydrocarbon revenues through targeted sectoral development.

Good governance is so vital and inventible, particularly in the context of governance within charitable social finance institutions in contemporary times. However, there are many issues and challenges that hinder the adoption of good governance in charitable institutions. The objective of this study is to examine the issues and challenges in adopting good governance practices at Islamic social finance institutions in Kuwait, focusing on Direct Aid Society. This study employs a qualitative research approach, utilizing interviews. The methodology is designed to capture and identify the issues and challenges in adoption good governance within the Direct Aid Society and how to overcome these issues. Semi-structured interviews were conducted with key stakeholders, including board members, management, and staff of the Direct Aid Society. The findings indicate that these institutions face several challenges due to their unique characteristics, the dynamics of their employees and board members, and the regulatory framework. Despite these challenges, Direct Aid Society has successfully implemented governance standards that prioritize public interests and stakeholder protection. However, ongoing issues such as the need for comprehensive policies and clearer procedural guides remain to be addressed to enhance governance practices further. Based on these findings, the study has implication for policy makers to address the challenges faced by Islamic social finance institutions, such as Direct Aid Society, in adopting good governance practices.

Purpose — This study aims to discuss several examples of temporary Islamic endowments (waqfs) in the modern period, arguing that jurists and Muslim endowment managers should utilise them more widely to adjust to current societal circumstances and open the door for new ways of caring for those in need. Design/Methodology/Approach — It employed textual analysis of legal opinions related to temporary waqfs, outlining the positions of scholars on both sides of the issue, including a presentation and analysis of their evidence. Findings — The research findings show that temporary waqfs are an essential means of renewable and sustainable economic support, where wealthy people endow their money for religious gain and to help others in need. Originality/Value — Unlike some previous studies, this article specifically examines modern and contemporary forms of temporary endowments and demonstrates some of their effects in supporting the economy and the needy in society. Practical Implications — Following this paper’s recommendations, those with funds and everyone who can create an endowment should support endowment institutions in modern ways and in different areas of temporary endowments, which would be very beneficial in eliminating poverty and supporting the economy. Research Limitations/Implications — Due to the limited scope of the study, its findings are limited to contemporary jurisprudential issues related to temporary endowments. Hence, it is related to the Islamic economy and steps for strengthening it in Muslim societies.

Waqf is an Islamic financial institution that can be operated to fulfil the various needs of the Muslim community. This qualitative-based research aims to review the beginnings of waqf in Kuwait up until the current day. It also aims to explain the Kuwait Awqaf Public Foundation experience as well as highlight the works of waqf institutions and their waqf share schemes. It can be concluded that Kuwait has a very rich waqf history and a considerable present experience, with variations between government and private practice.

This research explores the intrinsic and extrinsic motivations driving donors to engage in fundraising appeals launched through social networking sites (SNSs) to mitigate COVID-19’s impact on vulnerable communities from a cross-national perspective. The research adopted a quantitative approach through a web-based survey; a total of 801 donors were obtained from Kuwait and Bahrain and were useable for the analysis. Smart PLS structural equation modelling was used to validate the research model and derive significant insights. In the Kuwaiti sample, we found that humanitarian projects, internet technology, SNSs and religiosity significantly drive donor attitudes towards online donation. All these relationships are indirectly related to the intention to give via SNS through the mediating role of attitudes. As for the Bahraini sample, humanitarian projects, non-profit organizations (NPOs), SNSs, and religiosity significantly influence donors’ attitudes. Attitudes, on the other hand, have a visible mediating role in the relationships between these predictors and behavioral intentions. The findings could be useful for the development of appropriate policies that boost online monetary donations to support emergency aid for communities crushed by the pandemic. This research differs from the existing literature in that its multi-national study scrutinizes the incorporation of both internal and external predictors of fundraising activities into a distinctive related context such as SNSs, particularly in a time of epidemiological crises such as COVID-19.