Analyzing the Role of Islamic Finance in Kuwait Regarding Sustainable Economic Development in COVID-19 Era

The aim of the present study was first to consider the impact of COVID-19 on Kuwait’s economy. Second, it attempted to examine the role of Islamic banking and finance in achieving socioeconomic justice and attaining best practices by securing social goods. Hence, the research assessed how Islamic banking and finance can help in reconstructing the economy based on Maqasid Al-Shari’ah (higher ethical objectives) to redevelop social, economic, and environmental welfare, especially in the COVID-19 era. A theoretical approach was adopted, namely, the grounded theory method (GTM), to explore COVID-19 related solutions for achieving sustainable economic development. The findings show that Islamic banking and finance can be employed to mitigate the impact of coronavirus and can be used as an alternative financial system to support both affected people and entrepreneurs. The paper expands on previous literature discussing the role of Islamic finance in management strategies through Islamic ethical objectives, with a particular focus on Kuwait’s post-COVID-19 era. This research can help policymakers to develop mechanisms and supporting approaches for Kuwait’s economy.

Structural Changes and Sustainable Economic Development of the Republic of Serbia in a Pandemic

The challenges of the COVID-19 pandemic are important and relevant for sustainable development. The aim of this chapter is to review the existing model of economic development, because the COVID-19 pandemic has called into question the effects of structural changes in the economy and manufacturing industry in Serbia. The main contribution of this chapter is the review of development results which show that Serbia is in the process of economic recovery, but that it has not yet embarked on the path of sustainable economic development due to numerous structural problems. Serbia has experience with unsustainable economic development, and this is a strong argument in favor of sustainable concept implementation. In addition, this chapter provides empirical research on structural and technological changes. The obtained results can be used by economic and industrial policy makers to influence the consequences of COVID-19 and to avoid the slowdown of structural reforms. There will be numerous economic, environmental, social, and especially health challenges whose solutions must be sustainable.

Role of Football in International Business and Economy

Football events are one of the most significant sports events globally while football is one of the most popular sports. Thus, the football industry and football-related businesses plays an important role in trade and economy. In the current study key events and top associations and organizations of the football industry are identified, and their role beyond playing grounds is observed. Also, the role the football industry plays in the economic and financial developments of nations, brands and organizations and individuals is highlighted. A comprehensive chart has been drawn that presents a comprehensive structure of the global football industry and also identifies key sources of revenue and expenditures. The study is important for scholars interested in sports economics and sustainable economic development through sports.

Coherence of Marketing Imperatives for Managing the Development of Socio-Economic Systems

At present, there is a reorientation of the current model of the market economy towards the principles of sustainable development. The process is accompanied by the implication of the marketing concept of managing socio-economic systems, the technology of which provides reasoning of the determined guidelines that must be adhered to. In this context, the coherence of marketing imperatives is a determinant of ensuring the development of socio-economic systems, whereas the marketing-imperative approach should be considered one of the levers of sustainable economic development. Therefore, the purpose of the study is a complex substantiation of the theoretical and methodological content of marketing imperatives, the interpretation of their coherent influence on the management of socio-economic systems. The methodological basis of the study is an integrated combination of general scientific methods of systematic cognition and possibilities of application of specific methodological approaches to solving problems and verification of the formulated study hypothesis; the methods include monographic, hypothetical prediction, abstract-logical, induction and deduction, historical and economic, structural-functional analysis, abstraction and content analysis, construction of concepts and categories, graphical and tabular. The study provides insights into the special features of the evolution of the etymological essence of the imperative in the context of transformations of socio-economic systems; the essence of marketing imperatives in view of marketing ideology is substantiated; the mechanism of transformation of objectives into imperatives in achieving the goal of socio-economic system is developed; the necessity of the implication of the marketing-imperative approach in sustainable economic development is proved. The practical value of the study consists in the scientific substantiation of the theoretical and methodological content of marketing imperatives, the specification of their coherent impact on the management of socio-economic systems. Further studies are aimed at developing criteria for measurement, assessment, and interpretation of the effect after the implementation of marketing imperatives with subsequent testing of results