220 research outputs found

    Microcredit using Equity Financing: an Alternate Approach to Equity Financing in an Interest Free Financing

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    Interest is prohibited in all monotheist religions; however, it features as an essential element in practiced capitalism. Interest based financial system has created two major havocs in last two decades i.e. in East Asia in 90s and in the Great Recession since 2007. This paper highlights the extent of development problems faced by the world. With interest at zero bound in U.S since 2008 and with unemployment at 11% level, scarcity of capital cannot solely explain this. However, interest based Microfinance has had mixed results. Interest based lending at Micro level is usually carried out at very high interest rates, more so when the lending takes place informally without institutional intermediation. Institutional intermediation serves a good purpose, but it can also be designed using equity modes of financing. This can relieve the financee and increase diversity of entrepreneurial activities as in debt based microfinance, not much diversity can happen with compulsory servicing of debt. The related questions as to how the institutional arrangement would work to carry out this system, how documentation problems be resolved, how trust level can be created, how effective monitoring can be undertaken and how the intermediaries generate finance themselves and mobilize funds are answered in this paper.nterest free economy, Public finance, Taxation, Inequality, Income redistribution, Islamic Economic System, fiscal policy, deficit financing.

    Reflection of Prophets love in Kalam e Iqbal: کلامِ اقبال میں پر توِ عشقِ رسول ﷺ

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    Allama Muhammad Iqbal, a renowned poet and philosopher of the Islamic world, belonged to a devoutly religious family and embodied the spirit of a true Muslim. The most valuable and prominent aspect of his life was his profound love and unwavering obedience to the Prophet Muhammad (Peace be upon him). While Iqbal's poetry does not adopt the traditional style of Naat recitation, it resonates deeply with an immense and unfathomable devotion to the Holy Prophet. His writing reveals a unique and spiritual perspective on the event of the Prophet’s Ascension (Mi'raj), illustrating the mysteries and wisdom of this miraculous journey. Dedicated to the service and supremacy of Islam, Iqbal aspired for all Muslims to not only embody the teachings of Allah and His Messenger but also to spread this divine message to every corner of the world. References: Muhammad Iqbal, Dr. Allama, Kulliyat-e-Iqbal, Urdu, Lahore: Iqbal Academy, 2018, p. 420 Abdu-s-Salam Nadvi, Iqbal Kamil, Azamgarh: Dar-ul-Musannifeen Shibli Academy, 2009, p. 374 Ibid., p. 64 Al-Qur'an, Surah Muhammad, Verse: 38 Muhammad Iqbal, Dr. Allama, Ramooz-e-Bekhudi, Lahore: Sheikh Ghulam Ali and Sons, 2014, p. 131 Muhammad Iqbal, Dr. Allama, Kulliyat-e-Iqbal, Urdu, p. 441 Salahuddin Yusuf, Hafiz, Translator, Al-Qur'an Al-Karim, Lahore: Darussalam, p. 886 Imam Bukhari, Sahih Bukhari Sharif, Hadith: 15 Muhammad Iqbal, Dr. Allama, Kulliyat-e-Iqbal, Persian, Lahore: Sheikh Ghulam Ali and Sons, p. 19 Ibid., pp. 130–131 Rafiuddin Hashmi, Dr., Allama Iqbal Aur Mir-e-Hijaz, Lahore: Bazm-e-Iqbal, June 2015, p. 27 Muhammad Iqbal, Dr. Allama, Kulliyat-e-Iqbal, Urdu, p. 422 Ataullah Sheikh, Editor, Iqbal Nama, Single Volume, Lahore: Iqbal Academy, 2012, pp. 61–62 Muhammad Iqbal, Dr. Allama, Kulliyat-e-Iqbal, Urdu, p. 107 Ibid., p. 271 Ibid., p. 441 Ibid., p. 363 Javed Iqbal, Dr., Zinda Rud, Lahore: Sang-e-Meel Publications, 2012, pp. 17–18 Faqir Syed Waheeduddin, Rozgar-e-Faqir, Vol. II, Lahore: Maktaba Taamir-e-Insaniyat, n.d., pp. 30–31 Ibid., p. 33 Ibid., p. 38 Rafiuddin Hashmi, Dr., Allama Iqbal Aur Mir-e-Hijaz, p. 49 Javed Iqbal, Dr., Zinda Rud, p. 650 Muhammad Iqbal, Dr. Allama, Kulliyat-e-Iqbal, Urdu, p. 568 Ibid., p. 236 Ibid., p. 364 Abdullah, Dr. Syed, Ijaz-e-Iqbal, Lahore: Sang-e-Meel Publications, 2004, p. 390 Ataullah Sheikh, Editor, Iqbal Nama, Single Volume, pp. 305–306 Ibid., p. 211 Rafiuddin Hashmi, Dr., Allama Iqbal Aur Mir-e-Hijaz, p. 52 Muhammad Iqbal, Dr. Allama, Kulliyat-e-Iqbal, Urdu, p. 276 Ataullah Sheikh, Editor, Iqbal Nama, Single Volume, p. 632 Ibid., p. 597 Ibid., p. 209 Sabir Kalorvi, Dr., Editor, Kulliyat-e-Baqiyat-e-She'r-e-Iqbal, Lahore: Iqbal Academy, 2004, pp. 244–268 Muhammad Iqbal, Dr. Allama, Kulliyat-e-Iqbal, Urdu, p. 237 Ibid., p. 754 Arshad, W., Maqsood, A., Zaidi, S. S., Haroon, M., Qadir, U. M., Sultana, U., Arshad, S., Haq, M. I. U., & Sanaullah, S. (2024). Kalam-e-Iqbal: Current requirements and our priorities. Retrieved from https://www.researchgate.net/publication/384326267_Kalam_E_Iqbal_Current_Requirements_And_Our_Priorities Javed, J. I., Munawer, M., Ahsan, S., Ali, M. S., Qadir, M. H., Raheed, M., Mumtaz, S., & Arshad, W. (2023). Allama Iqbal and Maulana Abul Kalam Azad's thoughts and ideas about the existence and survival of the Islamic state: In the context of literary aspects. PalArch's Journal of Archaeology of Egypt/Egyptology, 20(2), 1239-1250. Retrieved from https://www.researchgate.net/publication/38432678

    اقبال کا خطبۂ ہفتم وشرح ازڈاکٹر جاوید اقبال (تحقیقی و تنقیدی جائزہ)

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    "Dr. Allama M. Iqbal delivered his famous seven addresses "The Reconstruction of Religious Thought in Islam" for the renaissance of religious thought of Muslims. Due to the amalgam of Philosophy, Science and Religion, explanatory studies have been conducted by many experts in this regard and Dr. Javed Iqbal is one of them. He has also written a complete book for the said purpose. In this article, 7th address of Dr. Allama M.Iqbal "Is Religion Possible" and its explanatory study by his son Dr. Javed Iqbal have been brought into lime light to examine pros and cons of this explanatory study.

    Folio: The Magazine of Forman Christian College

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    Editorial. pp. 5; Sheets, S. L.-Poetry-The Departure. pp. 7; Ghaisuddin-Article-Nature in Hardy. pp. 8-10; Bede, Z.-Poetry-Be Worthy of Your Query. pp. 11; Suleman Ghani-Story-At First Sight. pp. 12-16; Fazal, S. K.-Poetry-Oblivision is Red. pp. 17-18; Khawaja Fayyaz Mahmud-Article-Tourism in Kenya. pp. 19-22; Shahid Ikram-Poetry-A Morning Walk. pp. 22; Bede, Z.-Poetry-Dragons. pp. 23; Syed Arif Ahmad-Article-Cultural Awareness and Modern Youth. pp. 24-26; Toheed Ahmad-Poetry-On Meeting a Dead Formanite. pp. 27-29; Muhammad Ramzan Malik-Article-Polygamy. pp. 30-34; Barratt, D. J.-Poetry-Sonnet Sequence. pp. 35-39; Saadat Ali Khan-Article-The Secret of Contentment. pp. 40-41; Shahid Hasan-Poetry-Modern Poetry. pp. 41; Zaki-ud-Din Sheikh-Poetry-HICO. pp. 42; Javed, A. Aziz-Story-I Love You. pp. 43-45; Ghais-ud-Din-Poetry-The Lover. pp. 46; Anon-Poetry-Despair. pp. 47; Mohammad Riaz Shafi-Poetry-A Love Poem. pp. 48; JED-Poetry-The Journey. pp. 49-61; Toheed Ahmad-Kaleidoscope. pp. 62-65; Hamid, S. A.-In Memoriam. pp. 66-69; Folio [Urdu]. 58 p.Professor E. J. Sinclair. before contents page; Dr S. L. Sheets. before Editoria

    Intoxication and self-defence : a comparative study of principles of English law and Shari'ah

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    The study is based upon an analysis of the general principles of criminal liability in English law and Shari 'ah. It is hoped that it may provide a valid basis for discussion of the future development of criminal law. The relationship between law and society is an organic one and this relationship in Shari'ah is based on revelatory text of precepts, law, and admonitions. Shari'ah is an essential part of faith of every Muslim; a sound knowledge of its principles not only gives him a sense of inner fulfilment but enables him to order his life according to the dictates of his religion. On the other hand, in English law, religious beliefs and private morality might be viewed as not a matter for law. Religion is in that context generally conceived as a spiritual sphere of supra-human connotation distinct from law, which is basically a secular concern. Both the systems of law under consideration are different in their sources and nature. English law, being a positive law, finds its source in legislation and other recognised sources. Shari 'ah is a divine ordinance imposed upon people without having a freedom of choice and it has its roots in its primary sources, the Holy Qur'an, and the Sunnah. However, the revelatory nature of Shari'ah does not render it entirely inflexible and immutable. The finality of authoritative legal texts is confined only to a limited number of injunctions in the primary sources. The secondary sources provide flexibility to meet the changing requirements of society. A legal system should strike a fair balance between flexibility and inflexibility of legal rules. A very flexible system of law may lead to inconsistencies, illogicalities and at the same time may be subject to abuse by judges while a rigid system, which leaves no room for judicial discretion is likely to lead to injustice in certain cases. It is submitted that the very flexible nature of English law has left it full of inconsistencies and illogicalities, despite the appropriate use of judicial discretion. The research offers a general view of modern thinking about the theoretical foundations and methodology of Shari'ah Shari 'ah recognises a variety of sources and methods from which a rule of law might be derived. Part-I of the thesis discusses the evolving principles of Islamic jurisprudence from their rudimentary sources. The specific relationship between socio-religious reality and the production of theoretical legal discourse is illustrated in Part-11 and III while dealing with the problem of intoxication and private defence in society. It suggests that Shari'ah provides a framework in which the complex and sometimes competing needs of an individual and society can be fairly apportioned. The research will demonstrate that there is a well developed system of criminal law in Shari'ah that can be compared with the most developed and civilised criminal law of the contemporary world, for example, English criminal law. In order to compare the compatibility of both the legal systems, the approaches of both towards the problems of intoxication and self-defence have been taken as a parameter. Though Shari 'ah provisions seem to be predominantly prescriptive as compared to English criminal law, the comparison will show that it can provide practical solutions to problems faced by human society of any age. Shari 'ah being a revealed law is proactive in its nature. It takes action to cause changes and not only react to a change when it happens. This particular feature can be felt while dealing with the problem of intoxication. English criminal law, on the other hand, being a positive law bears the characteristics of a reactive law. It reacts to events or changes rather than acting first to cause change or prevent something. Another major difference between the two legal systems might be that English criminal law has passed through many evolutionary phases and reached at the present stage through the efforts of the political power and the state; whereas, Muslim states and governments throughout the centuries neither had a hand in the development of Islamic jurisprudence nor in the training and certification of jurists or jurisconsults whose task it was to formulate the law. History suggests that using the combined forces of religion, morality and law Shari'ah has effectively eradicated social evils and created a peaceful environment for human coexistence, where every one can enjoy his rights without a fear of infringement by the others. In cases of infringement of such rights, the offender shall be liable to severe punishments. The principles of criminal liability are on a par with the corresponding principles of the English criminal law. While protecting the rights of the victim of the crime, Shari'ah does not ignore the rights of the offender for fair trail, impartial justice and liability for punishment proportional to the offence committed by him. At the same time it recognises excuse and justification defences under appropriate circumstances, as it will be evident while comparing the defences of intoxication and self-defence with the same in English criminal law. The study reveals that there are similarities and differences between English law and Shari'ah when considering the issue of crime and criminal liability. However, this may be considered as normal phenomenon of comparing any two different legal systems. The differences can be attributed to their sources, origin, history and nature of the social values to be protected. Similarities can be ascribed to zeal for social justice and stability. The study of differences and similarities will provide an opportunity to illuminate our understanding of law and the process of its development. As both the systems have their own methodology to tackle legal issues, a different approach to the similar problem will provide a fresh insight leading to revitalised solutions. It will also be helpful to understand the methodology and the legal reasoning of both the systems leading towards a better understanding of law in general and at the same time providing efficient means for improvement

    جسٹس (ر)ڈاکٹرجاوید اقبال کی آپ بیتی ’’اپنا گریباں چاک‘‘ سیاسی و سماجی صورتِ حال کا جائزہ

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    "The social and political scenario has been described vividly and argumentatively in the autobiography "Apna Greeban Chaak" by Justice (r) Dr. Javed Iqbal. Pleasant memories connected with Allama Muhammad Iqbal, paractical struggle of Quaid-e-Azam in the establishment of Pakistan, Pakistan Resolution, The description of inter-religions voilence in 1946, Problems after establishment of Pakistan, Pak-India war 1965, The reasons and effects of separation Eastern Pakistan, social and political perspections in the periods of dictatorship, Sincere critique on the conduct of the politician's have especially been incorporated in the autogiography.

    علامہ اقبال اور تجدیدِ تصوف: تحقیقی و تنقیدی جائزہ: Allama Iqbal and Renewal of Sufism: Research and Critical Review

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    This study investigates the contemporary interpretation and application of Sufism in the East, focusing on Iqbal's Sufi ideals. Beyond analyzing Iqbal's own works, it explores broader Sufi literature. Dr. Muhammad Iqbal, a staunch advocate for restoring Islamic Sufism to its authentic form, criticized elements diverging from its original principles. Emphasizing the transformation of the human ego, he advocated for the cultivation of divine attributes over ego erasure. Using a mixed methodology, the research concludes that traditional Sufism is responsible for the decline of Muslims, positioning Iqbal as a key figure in the revival of a Sufism that inspires proactive engagement

    اقبال کی شاعری کے کشمیری شعرا پر اثرات: تحقیقی و تجزیاتی مطالعہ

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    In the beginning of the nineteenth century, it is pertinent to mention that many political and social movements started in India. These movements affected the entire system of entire India. The effects of these movements must have been felt in the state of Jammu and Kashmir . The effects of the political movements within India caused to be established in Kashmir as a result of which political and social awareness became the shape of a movement. People outside Kashmir played a significant role in strengthening the spirit of this initiative. Among them, people like M. Zafar Ali Khan, M. Abdul Majeed Salik Muhammad Deen Fawk, Maulana Ghulam Rasool Mehr, Syed Attaullah Shah Bukhari Hafeez Jalandhri and Shurash Kashmiri did not speak a single word, but the most powerful voice among them was Allama Muhammad Iqbal. It is significantly added that the poets of Kashmir accepted the influence of Iqbal's thought. Apart from Pirzada Ghulam Ahmad Mehjoor Ghulam Rasool Nazqi Abdul Ahad Azad Shaha Zor Kashmiri Shourida Kashmiri, there are many poets including Hamidi Kashmiri Khalifa Abdul Hakeem, Khushi Muhammad Nazer, Hakeem Manzoor Mirza Ghulam Hasan Baig, Ghulam Ahmad Faisal Kashmiri who were influenced by Iqbal's thought and inspired in his poetry.

    Proton Conductivity Studies of Zirconium Silicate/Ionic Liquids Membranes for PEM Fuel Cells Applications

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    A Master of Science thesis in Chemical Engineering by Rana Muhammad Nauman Javed entitled, “Proton Conductivity Studies of Zirconium Silicate/Ionic Liquids Membranes for PEM Fuel Cells Applications”, submitted in December 2020. Thesis advisor is Dr. Amani Al-Othman and thesis co-advisor is Dr. Paul Nancarrow. Soft copy is available (Thesis, Completion Certificate, Approval Signatures, and AUS Archives Consent Form).This work reports the synthesis of a novel, high-temperature composite membrane for proton exchange membrane (PEM) fuel cells. High-temperature operation (> 100oC) is preferred in PEM fuel cells as it results in better water management and an enhancement to the overall kinetics of fuel cells’ electrodes. The current state of the art Nafion membrane is not suitable for high-temperature operation as their proton conductivities decline drastically. Hence, a novel Nafion-free membrane, based on zirconium silicates (ZrSi) and ionic liquids (ILs) is described in this thesis. Proton-conducting ZrSi/IL composite membranes were synthesized via precipitation of ZrSi/IL within the pores of polytetrafluoroethylene (PTFE) at room temperature. Seven different ILs were investigated to produce ZrSi/IL modified materials with ILs content ranging from 0.56% to 32% by mass. Significant enhancements in proton conductivities were observed upon the addition of the IL to ZrSi. Electrochemical impedance spectroscopy measurements showed proton conductivity values in the range of 0.1-0.2 S/cm, exceeding that of the Nafion membrane. The modified ZrSi/IL samples were further investigated by thermogravimetric analysis (TGA), scanning electron microscopy (SEM), Fourier Transform Infrared Spectroscopy (FTIR), X-ray diffraction (XRD), and energy-dispersive X-ray spectroscopy (EDX). TGA analysis of the modified ZrSi/IL materials demonstrated an approximately 20% weight loss at around 500°C . Water uptake analysis indicated that the new composite membrane could hold more than 50% by weight of water. SEM analysis showed the changes in particles' morphology of the modified ZrSi/IL. The interactions of ILs with ZrSi were studied using FTIR & XRD. Changes in the ZrSi/IL crystalline structures in comparison with pure ZrSi were observed. The samples processed at a high-temperature (200°C ) and exhibited a high proton conductivity in the order of 0.001 S/cm. Thus, the ZrSi/IL membranes reported in this work are very promising as proton conductors for high-temperature fuel cell applications.College of EngineeringDepartment of Chemical EngineeringMaster of Science in Chemical Engineering (MSChE

    محمد حمید شاہد اور احمد جاوید کے افسانوں میں عہدِ جدید کی ثقافت کا تقابلی جائزہ

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    Fiction means a short, fictitious story or narrative in which an important aspect or event of life is presented. The identity of a nation or country is called its civilization or culture, which separates it from other nations. The main purpose of a nation's civilization is to define the boundaries of that nation. Various poets and writers have resorted to their works for the promotion of culture. Muhammad Hameed Shahid was born on 23 March 1957 in Pindi Gheb District Attock. His literary taste was nurtured by the home environment. He took up the pen in fiction writing along with criticism, novel writing and column writing. Ahmad Javed was born on April 22, 1948 in Campbell pur district of Attock. His affinity towards literary taste was due to his MA in Urdu and his affiliation with the teaching department. His words, his stories and his mood show pure literary seriousness.In the fictions of Muhammad Hameed Shahid and Ahmad Javed, all aspects of religious and social culture are described which characterize all aspects of rural and urban life. They have made a unique effort to highlight all aspects of culture through his fiction and highlighted the civilization of their society by including many cultural colors in their legends
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