63 research outputs found
Pioneers of Library Movement in Pakistan
Get PDFThe paper aims to describe in brief the contribution of seven leaders of Pakistan librarianship, viz. K.B. Khalifa M. Asadullah, Prof. Dr. Abdul Moid, Dr. Abdus Subuh Qasimi, Muhammad Shafi, Fazal Elahi, Khawaja Nur Elahi and S. V. Hussain. The early library developments are given for better understanding of the role of these leaders
Hydraulic simulations to evaluate and predict design and operation of the Chashma Right Bank Canal
Get PDFIrrigation systems / Irrigation canals / Flow control / Velocity / Canal regulation techniques / Hydraulics / Simulation models / Design / Operations / Crop-based irrigation / Distributary canals / Water delivery / Policy / Protective irrigation / Water allocation / Water requirements / Sedimentation / Water distribution / Equity / Water conveyance / Pakistan / Chashma Right Bank Canal
An Analytical Review of Different Concepts of Riba (Interest) in the Sub-Continent
Get PDFThe traditional concept of Riba (interest) is an excess amount on loan, which creditor receives from debtor on the repayment of loan. There is almost a consensus on the sprit of this concept that it is traditional thought or school; but along with that some other point of views also exist, which present Riba, in somewhat different ways, will be termed as non-traditional approach in this paper. Both of these schools are agreed on the point that, Riba is just restricted to debt, and the increment on it is Riba; but the main difference among these is that: former approach claims that, each and every addition on loan, regardless of purpose and time duration of loan is Riba; but, the later approach demand’s some room for that on different grounds. Actually both of them do not have any sound base. When the concept of unearned income (the income, which is not the result of human labor), is a recognized fact in Islamic economics in different forms, like: ijara (rent), Mudoraba and Mazara’a (Share Cropping); then definitely no logical reason is left to avoid excess income on loan. Both approaches are just unable to give a concrete concept of Riba.Riba, Interest, Rent, Share Cropping
Qur'anic Citations in Karen Armstrong's "Muhammad: A Prophet for Our Time"
No full textKaren Armstrong is one of the leading orientalists interested in the study of Islam. She has published two books on the biography of the Prophet Muhammad (PBUH). One of them is titled "Muhammad: The Prophet of Our Time". In this book, the author has presented a number of discussions in a narrative and analytical manner on various aspects of the life of the Prophet Muhammad (PBUH). At some points, Karen has provided answers to the objections of non-Muslim writers regarding prophetic role of the Prophet Muhammad (PBUH), however, in many places, she has maintained the continuity of the Orientalist narrative. In her book, she has presented some verses of the Holy Quran as evidence to raise doubts and suspicions regarding the personality of the Prophet Muhammad (PBUH), his character, his companions and wives, and has tried to prove that the doubts she has presented are based on Quranic verses. When an ordinary reader reads this book, he may be confused by seeing a new narrative related to the Holy Quran and Prophet (PBUH) at the same time. Therefore, it is necessary to identify from an Islamic perspective those parts of Karen's book in which the objections are based on the Holy Quran. This article fulfills this need
AN INTRODUCTION AND SERVICES OF ALLAMA MUHAMMAD IBN YOUSUF KERMANI :علامہ محمد بن یوسف کرمانی کا تعارف و خدمات
No full textABSTRACT
Allama Muhammad Ibn Yousuf Kermani was a preeminent scholar and commentator of his era. He was born in 717 A.H. Due to his early life spent in Kerman, is often referred to as "Kermani and bestowed with the titles "Shams al-Ulama" and "Shams al-Aimma." Kermani." He acquired knowledge from renowned scholars of his time. For many decades, he resided near the Kaaba and authored "Al-Kawakib al-Durrari fi Sharah Sahih al-Bukhari," a famous commentary stemming from the Kermani tradition. The city of Kerman has held importance in the history of Iran. This city is famous for its academic, historical and Islamic significance. It was conquered in the reign of Khilafat-e-Rashida Umar Ibn-Alkhatab. Kerman is the second largest province of Iran. Allama kermani has gained knowledge from scholars like Allama Idd al-Din Abdul-Rehman Ibn-Ahmad, known as Allamai Aiji and Muhammad Ibn Abi-Alqasim and Ali Ibn-yousuf. He have high-ranking scholars like Yahya Ibn Muhammad, Asad Ibn Muhammad and Qadi Muhib Al-din Baghdad among his students. He has written explanations for several books. His life was dedicated to the advancement of knowledge
Remittances and Poverty Linkages in Pakistan: Evidence and Some Suggestions for Further Analysis
Get PDFGlobal remittances experienced a dramatic increase over the years, particularly since 1990 wherein the developing world emerged to be the major beneficiary accounting for 60 percent of the total amount. Because of the sheer volume, and magnitude of the remittances, and pre-eminence of these flows compared to the FDIs, development assistance and in some cases the trade related transactions, the development practitioners tended to focus and investigate the importance of remittances which are generally regarded as a dependable source for growth, improved welfare and poverty alleviation in the developing world. Given the fact that remittances flows entail wide ranging ramifications both for sending as well as receiving countries, difficult to be generalised, hence empirical evidence has been mounted though lack of consensus is visible.
Contribution of Services Sector in the Economy of Pakistan
Get PDFThe services sector has provided steady support to Pakistan’s economic growth. It share in GDP now stands a more than 50 percent. The paper analyses its continuation in the growth of the economy in general and the development of trade and genera tion of employment in particular. The study identifies the bottlenecks in its growth and suggest measures to remove them. A set of policy reforms has been suggested to make the sector more effective in the growth of the national economy.Services Sector, Industry, Employment, Financial Institutions and Pakistan’s Economy
Profit-Sharing Deposit Accounts in Islamic Banking: Analysing the Perceptions and Attitudes of the Malaysian Depositors
Get PDFIslamic banking deposits are fundamentally structured in a different way than the conventional banking deposits. Each type of Islamic banking deposits, such as savings, demand, and timed deposits, is devised using the approved Shari’ah contracts such as qard, wadiah, murabahah, and mudarabah. These contracts are opposed to the conventional concepts, as they are based on the concept of a ‘lender-borrower’ relationship. In addition, the Shari’ah-approved contracts are unique as they feature a different nature of risk and return. This is especially the case for mudarabah contracts (henceforth referred to as profit-sharing contracts). The uniqueness of profit-sharing contracts in deposit products has been given due recognition in theory and also in practice, as most of the Islamic banks in Malaysia offered this product. In addition, the unique features and characteristics of profit-sharing based deposit accounts are also highlighted in the prudential standards issued by prominent regulatory bodies such as AAOIFI and IFSB which, have been adopted by the Bank Negara Malaysia (Central Bank of Malaysia).
Nevertheless, it is argued by many Islamic banks practitioners, especially in Malaysia, that the concept of profit-sharing in deposits products is not practical in reality, because the depositors do not behave according to, nor accept the principles that have been laid down in the Shari’ah. Thus it is argued that both the depositors and the Islamic bankers have treated the product similar to any other conventional banking deposits products.
The main aim of this study, hence, is to explore and examine the level of awareness, knowledge, perceptions, and attitude of the Islamic banking depositors in Malaysia towards characteristics of profit-sharing deposits accounts in accordance with the fundamental Shari’ah principles but also the regulations prevailing. In addition, this research also attempts to explore the significant determinant factors that encourage the depositors to engage with Islamic banking deposits accounts in general and profit-sharing deposits accounts in particular.
In fulfilling the aim of the study, primary data collection research was adopted through a survey questionnaire technique. The questionnaires were distributed to eight Islamic banks representing various types of Islamic banks in Kuala Lumpur and Selangor. The questionnaire asked various pertinent questions, which intended to elicit the depositors’ opinions, perceptions, and attitudes towards the unique characteristics of profit-sharing contract as specified in Shari’ah muamalah principles. The characteristics among others are: (i) concept of uncertain deposits returns; (ii) concept of non-guarantee for the deposits; (iii) concept of profit equalization reserve. A total 649 of the returned questionnaires were complete and fit for analysis purpose. The data were analysed using various statistical analysis techniques ranging from simple frequency distribution analysis to the more advanced analyses such as non-parametric statistical analysis, factor analysis, and logistic regression.
In general, the results of the study show that the level of awareness of the need to have Islamic banking deposits accounts because of religious reasons is considered as high among the Malaysian depositors. Nevertheless, the results also indicate that a high level of awareness is not being translated into a high level of understanding concerning the objectives of the products which are structured in accordance to the Shari’ah-compliant contracts. This can be seen in the major findings of this study: the characteristics of profit-sharing contracts, which arguably are the most desirable Shari’ah-compliant contracts, are not acceptable to the depositors. This indirectly implies that they are still strongly influenced by the nature of conventional banking products. In addition, the logistics regression results further proved that related factors (‘financial services’ and ‘income’) emerged as the main determinants in creating demand for profit-sharing deposits accounts.
The results of the research should draw the attention of the Islamic bankers and also the regulators to finding ways for improving the level of understanding among the depositors. However, the critical successful factor in educating the depositors is highly dependent on the level of knowledge exhibited by the Islamic bankers themselves, which can be a real concern as highlighted by the findings of this study
Poverty Dynamics of Female-headed Households in Pakistan: Evidence from PIHS 2000-01 and PSLM 2004-05
Get PDFThe paper attempts to empirically test a naïve version of what is rather stylistically termed as “feminisation of poverty”, using the sub-sample of female -headed households (FHHs) from two household surveys in Pakistan. Although, the database is constrained by quality factors and small sample size, the following findings add to the richness of current research in this area: (a) The numerical incidence of poverty among households headed by females is less than that for all households in the country, at the national, urban and rural level for both the years. This can be traced to the finding that more than 70 percent of households headed by females receive remittances, (b) The incidence of poverty among FHHs during the period 2000-01 to 2004-05 did not decline as fast as it did for mixed households, nationwide. In urban areas, it did not decline at all, (c) Among the determinants of poverty of FHHs, illiteracy, dependency and rural residence exacerbate poverty, while remittances domestic and/ or foreign reduce poverty, (d) The dynamics of incidence of poverty among FHHs during the period indicated that Illiteracy as the factor exacerbating poverty became less important in 2004-05. Moreover, residence in rural areas was also a weaker factor in determining the incidence of poverty. By far the most notable contribution in reducing the incidence of poverty was self-employment in agriculture in 2004-05.
THE Credit Supply Channel of Monetary Policy Transmission Mechanism: An Empirical Investigation of Islamic Banks in Pakistan versus Malaysia
Get PDFThe transmission mechanism of monetary policy is explained through the relationships
between a change in money supply and the level of real income. Monetary policy
transmits to the real sector through several different channels. Such channels include
the interest rate channel, the exchange rate channel, the asset-pricing channel, the credit
supply channel, and the bank balance sheet channel. This paper empirically investigates
the credit supply channel of monetary policy and explores the differential impact of
monetary policy on credit supply of Islamic banks in Pakistan versus Malaysia. The
robust two-step System-Generalize Method of Moments (GMM) estimator is applied
on an unbalanced panel dataset over the period 2005-2016. While estimating the effects
of three alternative measures of monetary policy on banks’ credit supply, several bank-
specific variables are included in the specification as control variables. We provide
strong evidence on the existence of credit supply channel in the baseline models for
both countries and differential impact of monetary policy through Islamic banks in
Pakistan versus Malaysia in the extended models. Our findings suggest that there is
a vital need to consider the nature of Islamic banks while devising the instruments
of an effective monetary policy in countries with dual banking system like Pakistan,
Malaysia, Indonesia, Bahrain, Saudi Arabia, Qatar and others
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