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“The core purpose is to explore the relationship between competition, loan quality, ownership structure, and risk for MENA economies.” In addition, this study examines the financial stability level of dual banking and explores the bidirectional causality of competition and risk concerning the impact of ownership structure. This study uses 748 observations from 2011 to 2020 in MENA countries. The Generalized Method of Moments (GMM) is an econometric technique used to estimate the parameters of a statistical model. The study findings indicate a negative (positive) relationship between MENA bank competition and risk (financial stability). It indicates that lower bank competition reduces bank credit risk and increases financial stability in MENA countries. Regarding ownership structure, Islamic banks display a stronger position in MENA economies than that of Commercial banks and Specialized Government Institutions. In contrast, specialized government institutions are riskier than commercial banks and Islamic banks. Loan quality shows the two-way causality between the degree to which banks compete and the quality of their loans to customers in the MENA markets. This study sets itself apart from other studies by creating a new segmented literature review portion. Finally, a significant policy implication is provided for academics, researchers, and policymakers interested in applying these findings.

The study aims to examine the effects of trade balance, economic growth, green field investment, energy use, financial development, and urbanization on environmental sustainability in BRICS countries. This study proceeds to estimate the long-term association using the fully modified ordinary least square (FMOLS) and the dynamic ordinary least square (DOLS) panel estimation methods for the years 1991–2020. This empirical study finds that the ratio of exports to imports has a negative effect on environmental degradation. This indicates that increasing the trade balance eventually leads to environmental sustainability, which finally improves living standards and environmental conditions in the BRICS countries. The findings further show that green field investment and financial development substantially improve environmental sustainability, but energy use, urbanization, and economic growth desperately negatively affect environmental sustainability. Additionally, this research finds a unidirectional relationship of environmental sustainability with trade balance, green field investment, energy use, urbanization, and economic growth rate. This study states how BRICS countries can be protected through trade balance controlling environmental degradation. Thus, this research provides improved orientations to the policymakers of BRICS countries to design policy in favor of the environment.