Banking and Financial Systems in Gulf Cooperation Council (GCC) Countries

Sickle Cell Health Awareness, Perspectives, and Experiences (SHAPE) Survey: Findings on the Burden of Sickle Cell Disease and Impact on the Quality of Life of Patients and Caregivers in Gulf Cooperation Council Countries

Since the sudden outbreak of what is known as the GCC crisis or the blockade on June 5, 2017, the four nations in the Gulf Cooperation Council (GCC) involved in the conflict –the State of Qatar, the Kingdom of Saudi Arabia, the United Arab Emirates (UAE), and the Kingdom of Bahrain – have found themselves in a diplomatic race for the support of their position on the rift in traditional media, as well as on social media platforms. This paper focuses on the different ways the ministries of foreign affairs (MOFAs) and the ministers of foreign affairs (MFAs) used Twitter as an instrument of digital diplomacy during the first 100 days of the GCC crisis. In general, states tweet on a daily basis, and the ways in which a sovereign state presents itself online offers an insight into the patterns of representation of state identity, strategy, emotional expression, and recognition of others. This study is based on the content analysis of tweets created by the MOFAs and their respective MFAs of the GCC, with a focus on Qatar, Saudi Arabia, the UAE and Bahrain over the first 100 days of the crisis (June 5, 2017–September 13, 2017). This paper uses different types of tweets to examine the various kinds of political and diplomatic discourses perpetuated on Twitter by the GCC officials, in order to engage the online public sphere and navigate the domestic and international discourses. For example, if ministers engage in dialogue with their followers, then they are exercising a two-way digital diplomacy approach via Twitter. On the contrary, when they tweet about their bilateral meetings, it is an example of a one-way digital diplomacy approach, since they do not require any response from their followers. It was of specific interest to examine the differences of topic, content, and frequency of tweets, through the communication in Arabic and English. The study shows that the countries engaged in discourse around the topic of the blockade, but the type of discourse differed significantly depending on the state itself. While some chose to focus on the idea of legitimizing their stance on the topic of the blockade (i.e. Saudi Arabia), others were more direct in voicing their viewpoint, creating specific hashtags such as “#boycottQatar” (i.e. Bahrain). In addition, Qatar differed significantly in terms of the volume of tweets and the topic, tweeting often in both Arabic and English and shifting their focus towards affirming their strong diplomatic relations with countries outside the GCC, such as the Republic of Turkey. Overall, this study aims to compare the way the four GCC countries used Twitter, in order to engage their local and international communities to disseminate an image or a message.

This paper aims to present and analyze corporate governance disclosure (CGD) practices among listed non-financial companies in the Gulf Cooperation Council (GCC) countries’ stock exchanges. GCC include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE). The study utilizes the benchmark developed by the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) of the United Nations Conference on Trade and Development (UNCTAD). This benchmark comprises 52 disclosure items that are divided into five broad categories: (a) financial transparency and information disclosure; (b) ownership structure and exercise of control rights; (c) board and management structure and process; (d) corporate responsibility and compliance; and (e) auditing. This benchmark is based on the UNCTAD publication Guidance on Good Practices in Corporate Governance Disclosure. Results indicate a low level of CGD since corporate governance is still considered novel in the GCC countries. The average disclosure level was 26% while the maximum was 65%. The category with the highest disclosure level was the ‘Financial transparency and information disclosure’ which is the case with other emerging markets. Providing an assessment of CGD using ISAR benchmark provides a tool for its future re-assessment in the GCC countries. Results show how important it is to enhance the awareness of CGD in the GCC countries stressing its importance on the micro and macro levels. Results also provide regulators and policymakers with recommendations on enhancing CGD in the GCC counties. The evaluation of CGD in the GCC countries can also help various stakeholders in their investment decision making.

PurposeThe study seeks to investigate the quality of metadata associated with the open government data (OGD) portals of the six Gulf Cooperation Council (GCC) constituents – Bahrain (BH), Kuwait (KW), Oman (OM), Qatar (QA), Kingdom of Saudi Arabia (KSA) and United Arab Emirates (UAE).Design/methodology/approachA quantitative framework, supported by extant literature, is adopted to assess the metadata quality of the six OGD portals of the GCC constituents.FindingsAmong the six GCC countries, QA has the most advanced OGD metadata quality followed by KSA, UAE, OM, BH and KW. Furthermore, the OGD metadata quality (MQ) of UAE and OM stand at the same pedestal whereas BH and KW OGD portals are lagging behind.Originality/valueWhile the OGD quality has been investigated in extant literature, the MQ of the OGD portals for the GCC countries has not been investigated so far – the present study seeks to plug this gap.

PurposeThis study objective is twofold. This study aims to present an institutional analysis of the implications of job localization programs in Gulf Cooperation Council (GCC) countries, such as Saudi Arabia, United Arab Emirates and Qatar. Further, it highlights the impacts of these programs on the accounting profession.Design/methodology/approachThis study is based primarily on the desktop research method, where data is collected from the review of previous studies, published data on Internet Websites and reports released by International organizations such as the United Nations. In addition, the study benefitted from conducting six interviews with government officials from GCC countries. Theoretically, this study draws upon insights from the institutional logics theory to discern higher-order institutions deriving job localization decisions in the GCC region.FindingsThis paper explained how job localization policies in the GCC region are informed by three central logics: economic, socio-political and professional. Despite contributing to achieving some socio-political goals for policymakers, these policies could have serious consequences for the practice of the professions and, hence, the local business environment. Besides, this paper highlighted the serious localization policies' impacts on the accounting profession, especially the quality of the workforce (accountants) and their job readiness.Practical implicationsThis study highlights the various implications of job localization policies for locals, foreigners, public and private sector entities and governments. Besides, it has recommended some actions to mitigate the negative influences of such policies on the surrounding society.Originality/valueThis study contributes to the literature by following an interpretative approach in explaining the localization of the accounting profession from an institutional perspective by bringing new evidence from GCC emerging markets.

PurposeThe purpose of this paper is to explore the intellectual capital (IC) performance of banks in Gulf Cooperation Council (GCC) countries and to empirically investigate if IC has an impact on financial performance as well as to identify the IC components that may be the drivers of the traditional indicators of bank success.Design/methodology/approachThe empirical data are drawn from banks’ annual reports over the three-year period of 2008 to 2010. Ordinary least squares regression analysis is constructed to examine the relationships between IC and the banks’ financial performance indicators. Pulic’s value-added intellectual coefficient method (VAIC) is applied to measure IC performance.FindingsEmpirical findings, after controlling for bank size and global financial crisis, indicate that IC is positively associated with bank financial performance indicators in all GCC countries. However, when VAIC is split into its three components, the relationships between these components and bank financial performance indicators are varied.Research limitations/implicationsThe main limitation of this study is the use of IC measurement model. Its basic advantage (simplicity and ease of use) is also its main limitation. The main problem is measuring the contribution of something which is not physical and cannot be easily quantified. The key issue is that the value created by IC is indirect. However, at present, no perfect solution is available for intellectual capital measurement, as the area is still exploring the best possible solutions.Practical implicationsThe results may extend the understanding of the role of IC in banking sector in GCC region and may give inputs to managers of GCC banks to structure relevant strategies to obtain, utilize, develop and retain IC. The findings also could help policy makers in GCC to formulate and implement policies for establishing a resilient banking sector.Originality/valueThis study adds to the literature by extending the knowledge of IC performance and its utilization for increasing the financial performance of GCC banks. There has only been one previous empirical study that explores the IC and its relationship with the traditional measures of bank performance in GCC region (only in Bahrain). It is the first comparative study across GCC countries.

Background Thalassemia has a burden on the healthcare systems of many countries. About 56000 conceptions result in thalassemia, globally. Objective To assess the epidemiological profile of thalassemia in the Gulf Cooperation Council (GCC) countries. Methods A systematic search was conducted in MEDLINE/PubMed (National Library of Medicine), CINAHL, and Embase. Relevant observational studies reporting the epidemiology of thalassemia among the GCC population were selected. Data on the prevalence, frequency, and complications of thalassemia were extracted. The quality of the retrieved studies was assessed according to the Newcastle–Ottawa Quality Assessment Scale. Results Eighteen studies (14 cross-sectional studies, two retrospective observational studies, and two retrospective analysis) with a total of 3343042 participants were included in this systematic review. Of the 18 studies, 11 studies were conducted in Saudi Arabia, two in the Kingdom of Bahrain, one in Kuwait, three in the United Arab Emirates (UAE), and one in Qatar. The prevalence of thalassemia among children below five years of age ranged from 0.25% to 33%, while it was 0.9% in children above five years and from 0.035% to 43.3% among adult thalassemia patients. The most-reported risk factors were consanguineous marriage and high-risk marriage. There was a lack of data regarding mortality rates in thalassemia. Conclusions Despite the premarital screening and genetic counseling (PMSGC) program for thalassemia, the incidence of high-risk couple marriages in GCC countries cannot be effectively diminished. This study suggested that the PMSGC program should adopt more attention for the high-risk areas, to enhance the level of consciousness about the hemoglobinopathy diseases and the consequences of consanguinity among the at-risk couple.

The scarcity of updated data on the prevalence of cervical human papillomavirus (HPV) infection in the Gulf Cooperation Council (GCC) countries hampers the establishment of cervical cancer screening and HPV vaccination programs. The current study estimated the prevalence of cervical high-risk (HR) HPV infection among women residing in some countries of the GCC and analyzed the correlation between HR-HPV infection types and cytology results. In total, 2478 women residing in the Kingdom of Saudi Arabia, Qatar, the United Arab Emirates, and Bahrain were enrolled in this study. Cervical specimens were subjected to simultaneous liquid-based cytology and HR-HPV DNA analysis. Of 2478 women, 520 (21%) tested positive for HR-HPV. Other non-HPV genotype 16 (HPV16)/HPV18 HR-HPV was the most frequently detected infection type, accounting for 63.7%. Non-Arab women had a significantly higher HR-HPV positivity rate compared with Arab women (31.6% vs 16.4%; P<.001). The HR-HPV positivity rate was highest among women residing in Qatar (31.3%), followed by women living in Bahrain (20%), the Kingdom of Saudi Arabia (17.2%), and the United Arab Emirates (14.7%). The overall prevalence of HR-HPV infections declined significantly with advancing age (P<.001). Women with abnormal cytology had a significantly higher HR-HPV positivity rate than those with normal cytology (50.6% vs 14.7%; P<.001). The HR-HPV positivity rate increased as the severity of the cytological lesion increased. The current study provides updated data on HR-HPV prevalence in the GCC countries and delivers an evidence base for supporting the introduction of regional/national vaccination and screening programs in these countries.

The Arabian Gulf Cooperation Council (GCC) countries including Saudi Arabia, Kuwait, Bahrain, Qatar, United Arab Emirates, and Oman have developed rapidly since the second half of the 20 th century, due to the increase of oil and gas revenues. The governments invested in major projects, which aimed at building the countries’ infrastructure, economy, and people. The GCC countries completely transitioned from traditional into advanced societies reaching high levels on the Human Development Index. Such development has contributed to fertility declines. In 1995, fertility rates were very high with 6.5 children per woman in Saudi Arabia, Qatar, and Oman, but in 2022 fertility rates declined threefold among them to less than 2 children per woman in all the GCC countries except Saudi Arabia (2.4) and Oman (2.7). The main objective of the research is to show the effect of some socio-economic factors on the decline in fertility rates of the GCC countries using historical and topical approaches. In addition, analytical techniques are used to analyze two questionnaires conducted in 2005 and 2020 to determine the effects of socioeconomic factors such as marital age, education, work status, and income on declining fertility in the United Arab Emirates.

This study seeks to investigate the sensitivity of stock returns to exchange rate, interest rate and oil price volatility in the Gulf Cooperation Council (GCC) countries. It employs both the multivariate ordinary least square (OLS) regression and the exponential generalized autoregressive conditional heteroscedastic in mean (EGARCH-M) models to analyse the data collected from Bloomberg and DataStream on the GCC countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates) for the period January 2007 to June 2012. The study shows that stock returns in GCC countries are influenced by the exchange rate risk, interest rate risk and oil price risk. However, the exposure is highest for exchange rate risk and lowest for interest rate risk. While the effects of these risks were mixed, overall, exchange rate risk and oil price risk showed a positive and significant relationship as compared to the interest rate risk that showed a negative significant effect on firm values. The level of the effect of these risks also differed from country to country. Further, foreign operations and firm size had a significant influence on the extent of the firms’ exposure to all three risks. The study findings suggest that the volatility of stock returns affected by changes in the risk factors could indicate non-prioritisation of risk management by firms. This has implications in terms of consideration of the long-term exposure of firms to these three risks and thus, the need for effective risk management strategies.

Job satisfaction among healthcare workers is essential for maintaining high-quality care. Previous research has shown different levels of job satisfaction, but there is no comprehensive list of determinants of job satisfaction among healthcare workers. This study aims to provide a comprehensive list of determinants of job satisfaction in Gulf Cooperation Council (GCC) countries (Saudi Arabia, UAE, Bahrain, Kuwait, Oman, and Qatar). A systematic review was conducted following PRISMA guidelines across five databases: PubMed, CINAHL, Web of Science, Cochrane, and Scopus. Two independent reviewers performed data extraction and review using the Critical Appraisal Skills Programme (CASP) quality assessment checklist. The review was undertaken between 1 January 2012 and 4 November 2022. Five hundred titles and abstracts were screened, yielding 73 eligible studies for inclusion in this review. Of the included studies, 60 were carried out in Saudi Arabia (82.2%), six in Oman (8.2%), three in Qatar (4.1%), two in the United Arab Emirates (2.7%), one in Kuwait (1.4%), and one in the Kingdom of Saudi Arabia and the United Arab Emirates (1.4%). The analysis identified 14 key determinants of job satisfaction among healthcare workers in GCC: pay, promotion, co-workers, supervision, fringe benefits, contingent rewards, operating conditions, nature of work, communication, workload, leadership style, relation with patients, demographic variables, and others, such as hospital type. Thus, our study expands on Spector’s nine determinants model of job satisfaction, hence providing a wider and more detail insight into job satisfaction in workplace.

The COVID-19 outbreak has significantly affected global industrial and transportation markets. Airlines, rails, and cars’ industries and their supporting energy sectors have been substantially disrupted by the pandemic. This has resulted in undermined energy demand around the world during 2019 and 2020. The organization of the Petroleum Exporting Countries (OPEC) led by Saudi Arabia failed to persuade Russia to cutback oil supplies to deal with the loss of demand from the COVID-19 pandemic. On 8 March 2020, Saudi Arabia announced a raise in its oil production and offered a large discount on its crude oil sales. By April 2020, Saudi Arabia increased its oil production to about 12 million-oil barrels/day. This rise in oil production has not only resulted in the biggest fall in oil prices since the 1991 Gulf War but also increased methane emissions over the Gulf Cooperation Council (GCC) regions. Here, we report 2019 and 2020 data set of average seasonal methane-mixing ratio retrieved from TROPOspheric Monitoring Instrument (TROPOMI) on board of S5P spacecraft over 19 refineries and oil fields in Saudi Arabia, Kuwait, Oman, United Arab Emirates, Qatar, and Bahrain. Low methane emissions were recorded over western and central Saudi Arabia compared to the eastern side of the country. In general, high methane emissions were observed in 2020 compared to 2019 around oil refineries and fields in western, central, and eastern regions of Saudi Arabia as well as over other GCC countries. This could be attributed to the oil high production associated with the oil prices fluctuation during 2020.

Research performance of the GCC countries: A comparative analysis of quantity and quality

India and the Gulf Cooperation Council (GCC) countries have age old relations. Indians and people from these countries have frequently travelled to each other’s countries for trade as well as other activities. Indians have been traced in GCC countries for a long time. Indians going to those countries for business, work and other purposes have been a very old phenomenon. Even in pre-oil era, thousands of Indians went to earn a livelihood in GCC countries and many of them settled there forever. However, Indians going to work on a massive scale to these countries is a post-1973 oil era phenomena. The massive inflow of oil revenues consequent to the high rise in global oil price saw unprecedented level of economic development in these countries. However, such development required massive level of manpower, which these countries did not have and this is why these countries are characterized as capital rich labour scarce countries. The economic development in post-1973 oil era in these countries resulted in large scale import of manpower from abroad. As Indians were not new to these lands, the Indian workers also started migrating to these countries in search of employment and better life. Today Indians are present in each sector of economies of GCC countries. Millions of Indian migrant workers abound the GCC countries and contribute their bit in building those economies. However, this benefits them also as well as the Indian economy. These Indian migrant workers are crucial for both Indian as well as GCC countries. This study is a detailed probe into this phenomenon.

This study examines the relationship between the earning management and audit quality on sustainable investment opportunities in the Gulf Cooperation Council (GCC) countries, including, Bahrain, Oman, Qatar, Saudi Arabia, Kuwait and United Arab Emirates. Further, moderating relationship of audit quality between earnings management and sustainable investment is also investigated in the present study. This study includes the data of 1337 companies and their-year observations from the period of 2011 to 2017. This study used the Panel Data Ordinary Least Squares with correlated random effect to examine the direct relationship and the moderated multiple regression to examine the moderating effects of audit quality on the earnings management and sustainable investment opportunities relationship. The results demonstrate that the earnings’ management encompasses a significant negative relationship with sustainable investment opportunities but on the other side, it also displays a positive relationship between audit quality and sustainable investment opportunities. Furthermore, the study investigates the moderating effect of audit quality on the relationship of earning management and sustainable in-vestment opportunities. Empirical evidence suggests that the audit quality plays a vital role in mitigating the agency theory problem and reducing the information asymmetry. These findings suggest that the big audit firms act as a good governance representatives for the management and it further enhances the credibility of accounting information for the new investors. This research has several usages for policymakers and investors in the GCC. The investors should assess their choice when they are investing in firms. The big auditing firms mitigates earnings management, which may raise sustainable investment opportunities. Thus, listed firms in the GCC should implement governance and disclosure practices that strengthen the credibility of financial earnings and reduce the danger for investors who later discovers poor investment decisions.