Purpose: The purpose of this paper is to investigate the relationship between the sub-components of intellectual capital and organisational performance in waqf institutions in Algeria.Design/methodology/approach: Data was collected through structured questionnaires from a sample of 193 waqf employees working in 23 different provinces in Algeria and analysed using partial least squares – structural equation modelling (PLS-SEM) software to test the path modelling and the relationship between the instruments.Findings: The results of this research show that human capital, structural capital and spiritual capital have a positive and significant relationship with organisational performance. However, relational capital, social capital and technological capital did not demonstrate any kind of role in the context of waqf institutions in Algeria.Practical implications: The findings of this research are of great importance for waqf institutions in Algeria, as they provide a comprehensive screening with regard to organisational performance of these institutions through the lens of intellectual capital. The findings help waqf managers and policy makers consider effective solutions for the weaknesses and challenges impeding the performance of waqf institutions, in the hope of retrieving their role in serving and developing societies.Originality/value: In the existing body of literature, there is a lack of research focusing on intellectual capital in the context of religious non-profit organisations particularly waqf institutions. Thus, this research adds to the body of knowledge on intellectual capital while highlighting its role and importance within the waqf industry, particularly in the context of Algeria. This research is considered among the primary attempts to investigate the impact of intellectual capital components on the organisational performance of waqf institutions in Algeria.

The rapid rise and widespread global adoption of cryptocurrencies in recent years has fundamentally transformed the international financial landscape, with digital assets increasingly being recognized for their potential to influence the stability and performance of traditional capital markets. Against this backdrop, this study aims to empirically investigate the impact of cryptocurrency returns on Islamic vs. conventional stock returns in Gulf Cooperation Council (GCC) countries. The salient distinctions between Islamic and conventional stock markets include fundamental differences in principles, investment allocations, and risk profiles, underscoring the importance of examining the impact of cryptocurrency returns on these distinct equity segments. Daily data were collected from stock indices in five GCC countries over the period 2016–2019, including two sub-periods: before and after the 2017 crypto crash. Pooled OLS, fixed effects, random effects, and generalized linear models (GLMs) were used to analyze the data collected during the study. With the GCC increasingly focusing on cryptocurrency markets, there is growing concern about these markets’ potential impact on regional stocks. This study addresses the important questions of whether the impacts of the cryptocurrency market on Islamic vs. conventional stock markets differ throughout the GCC region and how these impacts have evolved since the crypto crash period. The findings reveal that cryptocurrency returns had a negative impact on both GCC Islamic and conventional stock market returns for the full sample period (2016–2019), and the negative effect was far more pronounced for conventional stocks. For the two sub-periods before and after the crash, only the cryptocurrency market and conventional GCC stocks remained negatively correlated, while the cryptocurrency market and the GCC Islamic stock markets became uncorrelated. Thus, for the calmer sub-periods before and after the crypto crash, the rise in cryptocurrency returns may have enticed GCC investors away from conventional stocks, perhaps resulting in a decline in their investment in these stocks. Meanwhile, those who invest in Islamic stocks may not be exposed to this temptation.

Purpose: Islamic finance is considered one of the fastest-growing segments of the global financial industry. Over the last four decades, Islamic finance has expanded globally to western and other non-Muslim countries. This paper aims to explore the potential for China to tap into the Islamic finance market and the challenges that may face the implementation of Islamic finance there. Methodology: This study adopts a qualitative method of inquiry and utilizes the inductive method and content analysis to build comprehensive knowledge that would assist in exploring the significance and potential benefits that China may gain from the adoption of Islamic finance. Findings: The study reveals that China has a huge opportunity to capitalize on Islamic finance for economic development, particularly in the implementation of China’s Belt and Road Initiative (BRI). The paper also highlights the critical success factors for introducing Islamic finance in China, most importantly, political will. Genuine support from the government is needed for the effective introduction of Islamic finance in the country. This support should be subsequently followed by the development of the legal framework, an amendment of the laws, broad publicity to raise public awareness, and effective collaboration with international organizations. Significance: To the best of the authors’ knowledge, this study is among the few which highlights the potential for China to tap into the Islamic finance market. It is expected to contribute to enhancing the implementation and development of the Belt and Road Initiative (BRI).

This study provides a critical discussion on the history of waqf in Algeria throughout three main different eras namely, the Ottoman rule era, the French colonisation period and after independence era, to raise awareness and enrich researchers’ thoughts regarding the practice of waqf in Algeria. Also, it highlights the practice of many waqf institutions existed therein and addresses their developments and impacts on the community life. Subsequently, it highlights the development of the waqf legal system in Algeria, which provides a platform that facilitates understanding its status in the Algerian community, which offers lessons to be learnt from and considered for the development of waqf institutions. The authors reviewed a significant body of relevant studies written on various aspects of the waqf history in Algeria, to provide readers and researchers with lessons from waqf institutions in Algeria throughout three different phases in history, as few studies have addressed this issue in the context of Algeria. The study reveals that the Ottoman rule era in Algeria was marked by the spread of different waqf institutions which played a vital role in all aspects in the community life. However, these institutions experienced a huge retreat during the colonial era, where the French colonisers aimed at confiscating awqāf and belittling its effective role in the community. After independence in 1962, there have been modest initiatives to upgrade waqf properties, and attempts to recover the lost ones, but all these efforts were considered weak as compared with the size of the waqf properties in Algeria during the Ottoman period.

The current study aimed to explore Imam Zarkasyi’s efforts to modernize pesantren institutions (Islamic boarding schools) through waqf organizations. The study drew on scholarly publications including books and academic papers as well as primary sources about Imam Zarkasyi by utilizing a qualitative, descriptive, and explanatory research methodology. The findings revealed that Zarkasyi’s educational perspectives and personal experiences significantly influenced the modernization of the waqf-based educational system. Zarkasyi’s proposals to enhance the pondok system’s modernity were based on his thorough understanding of the country’s educational culture. In response to the Dutch colonial administration, private educational institutions were established in 1926. These institutions offered students, educators, and community members the chance to acquire essential life skills and values in a unique educational setting. To ensure the continuity of these institutions, Zarkasyi transformed them into publicly owned enterprises through waqf establishment in 1958. As a waqif, he allocated a substantial portion of his fortune to be shared collectively among his three brothers. Zarkasyi aimed to ensure the sustainability of this approach by incorporating waqf principles which include attitudes, abilities, and praiseworthy characteristics. His initiatives continue to serve as a pedagogical model for private schools in Indonesia. This success motivates others to emulate the waqf concept, thereby contributing to the restoration and development of Islamic civilization.