Problems and Prospects of Islamic Banking: a case Study of Takaful

The paper is an attempt to analyse the working of Takaul in the world and its popularity in the insurance sector in the world. Keeping in view of Sharia we have also tried all possible aspects of insurance system popular in the world and tried to look at its possibility to familiarize more amongst Muslims of the world. It is observed that customer awareness remain low, however this is often attributed to a limited understanding of Islamic finance in the banking and insurance world. We wish to have a proper salesmanship and advertisement of Islamic banking system in India and all around the world.Islamic Banking, Takaful

The Dynamics of Fiscal Federalism in India and the Global Financial crises

India's fiscal federalism, though asymmetric in nature has so far worked well to keep the federation going. The asymmetry is both vertical as well as horizontal. Former is in terms of the disproportionate allocations of revenue sources and the responsibilities to be discharged to the Central and State governments and the latter, in terms of fiscal capacity of the States themselves. In order to make up for the inadequacy of revenue there is well elaborate mechanism of fiscal transfers from Centre to States. The channels of these transfers are statutory as well as non-statutory. This creates a problem that while States might be getting resources but are deprived of the fiscal instruments to pursue public policies. But the division of fiscal function is well in tune with the principles suggested by Musgrave in late fifties according to which 'economic stabilization' and 'distribution' to be assigned to Centre government while 'allocation' to the States. On and off there have been the conflicts but political economic factors always played a role in their resolutions. Problem gets compounded by the fact that since monetary initiatives are with the Centre it can - in fact it does - use them to counter balance any fiscal profligacy committed on account of political expediency (fiscal measures are politically more sensitive). There is empirical evidence that fiscal transfers could not succeed in bringing about revenue equalization or augmenting the fiscal capacity of States while there have been instances of Centre transgressing into the fiscal space of the States. Responding to the global financial crises and resultant economic slow down Centre came out with stimulus packages by putting a pause on the requirements of Fiscal Responsibility Act. While States were also permitted to defer the same to meet the challenges only a handful of States could come out with any package. Proposed study seeks to analyze the dynamics of federalism during the recent crises

The Dynamics of Fiscal Federalism in India and the Global Financial crises

India's fiscal federalism, though asymmetric in nature has so far worked well to keep the federation going. The asymmetry is both vertical as well as horizontal. Former is in terms of the disproportionate allocations of revenue sources and the responsibilities to be discharged to the Central and State governments and the latter, in terms of fiscal capacity of the States themselves. In order to make up for the inadequacy of revenue there is well elaborate mechanism of fiscal transfers from Centre to States. The channels of these transfers are statutory as well as non-statutory. This creates a problem that while States might be getting resources but are deprived of the fiscal instruments to pursue public policies. But the division of fiscal function is well in tune with the principles suggested by Musgrave in late fifties according to which 'economic stabilization' and 'distribution' to be assigned to Centre government while 'allocation' to the States. On and off there have been the conflicts but political economic factors always played a role in their resolutions. Problem gets compounded by the fact that since monetary initiatives are with the Centre it can - in fact it does - use them to counter balance any fiscal profligacy committed on account of political expediency (fiscal measures are politically more sensitive). There is empirical evidence that fiscal transfers could not succeed in bringing about revenue equalization or augmenting the fiscal capacity of States while there have been instances of Centre transgressing into the fiscal space of the States. Responding to the global financial crises and resultant economic slow down Centre came out with stimulus packages by putting a pause on the requirements of Fiscal Responsibility Act. While States were also permitted to defer the same to meet the challenges only a handful of States could come out with any package. Proposed study seeks to analyze the dynamics of federalism during the recent crises

Neoclassical Versus Keynesian Approach to Public Policy – The Need for Synthesis

The global economic recession following the financial crises once again revived the debate over the efficacy of Keynesian solution to deal with the crises. Most of the country went in to offer bailout packages from the public budget which could be the reminiscent of such policies adopted earlier – New Deal of President Roosevelt of US is case in point. Keynes was the first person to provide theoretical justification for the deficits in public budget to raise the aggregate spending level in the economy which, in turn, would raise the employment level. Keynesian advocacy would have remained unheeded had the crises of 1930s not occurred. The crises offered the opportunity to put the Keynesian solution to test. The approached worked. But by the end of the decade of 70s this approach was abandoned and neoclassicism not only resurfaced but became the bases for the policy not only for nations but for multilateral financial institutions as well. It was the crises again which brought back the Keynesian wisdom to relevance. The present paper assesses the two approaches in the historical context to find if synthesis between neoclassical and Keynesian approach is possible to make the public policy more effective

Neoclassical Versus Keynesian Approach to Public Policy – The Need for Synthesis

The global economic recession following the financial crises once again revived the debate over the efficacy of Keynesian solution to deal with the crises. Most of the country went in to offer bailout packages from the public budget which could be the reminiscent of such policies adopted earlier – New Deal of President Roosevelt of US is case in point. Keynes was the first person to provide theoretical justification for the deficits in public budget to raise the aggregate spending level in the economy which, in turn, would raise the employment level. Keynesian advocacy would have remained unheeded had the crises of 1930s not occurred. The crises offered the opportunity to put the Keynesian solution to test. The approached worked. But by the end of the decade of 70s this approach was abandoned and neoclassicism not only resurfaced but became the bases for the policy not only for nations but for multilateral financial institutions as well. It was the crises again which brought back the Keynesian wisdom to relevance. The present paper assesses the two approaches in the historical context to find if synthesis between neoclassical and Keynesian approach is possible to make the public policy more effective

Problems and Prospects of Islamic Banking: a case Study of Takaful

The paper is an attempt to analyse the working of Takaul in the world and its popularity in the insurance sector in the world. Keeping in view of Sharia we have also tried all possible aspects of insurance system popular in the world and tried to look at its possibility to familiarize more amongst Muslims of the world. It is observed that customer awareness remain low, however this is often attributed to a limited understanding of Islamic finance in the banking and insurance world. We wish to have a proper salesmanship and advertisement of Islamic banking system in India and all around the world

The Effect of Transformational Leadership on Employee Job Performance through Mediating Role of Organizational Commitment in Logistic Sector of Pakistan

The purpose of this paper is to examine the effect of transformational leadership on the employee job performance through organizational commitment in the logistics sector of Pakistan. Data were collected from the employees of logistic sectors headquarter, Islamabad througha self-administered questionnaire usingpurposive sampling technique. 280 self-administered questionnaires were distributed among the employees of PTCL but 210 questionnaires were returned observing response rate as 75 %. Data were analyzed using structural equational modeling (SEM). Results of the study indicate that transformational leadership has both the direct significant effect on employee job performance and also the indirect significant effect on employee job performance through organizational commitment. In the light of the findings of this research, it is recommended for PTCL management to adopt a transformational leadership style to cope with todays fast changing environment

Updates on the anticancer potential of garlic organosulfur compounds and their nanoformulations: Plant therapeutics in cancer management

Garlic (Allium sativum L.) possesses numerous pharmacological potential, including antibacterial, antiarthritic, antithrombotic, anticancer, hypoglycemic, and hypolipidemic effects. The anti-cancer action of garlic is likely the best researched of the many advantageous pharmacological effects, and its use offers significant protection against the risk of developing cancer. A few active metabolites of garlic have been reported to be essential in the destruction of malignant cells due to their multi-targeted activities and lack of significant toxicity. The bioactive compounds in garlic having anticancer properties include diallyl trisulfide, allicin, allyl mercaptan diallyl disulfide, and diallyl sulphide. Different garlic-derived constituents and their nanoformulations have been tested for their effects against various cancers including skin, ovarian, prostate, gastric, breast, and lung, colorectal, liver, oral, and pancreatic cancer. The objective of this review is to summarize the antitumor activity and associated mechanisms of the organosulfur compounds of garlic in breast carcinoma. Breast cancer continues to have a significant impact on the total number of cancer deaths worldwide. Global measures are required to reduce its growing burden, particularly in developing nations where incidence is increasing quickly and fatality rates are still high. It has been demonstrated that garlic extract, its bioactive compounds, and their use in nanoformulations can prevent breast cancer in all of its stages, including initiation, promotion, and progression. Additionally, these bioactive compounds affect cell signaling for cell cycle arrest and survival along with lipid peroxidation, nitric oxide synthase activity, epidermal growth factor receptor, nuclear factor kappa B (NF-κB), and protein kinase C in breast carcinoma. Hence, this review deciphers the anticancer potential of garlic components and its nanoformulations against several breast cancer thereby projecting it as a potent drug candidate for efficient breast cancer management

ZnO Nano-swirlings for Azo Dye AR183 photocatalytic degradation and antimycotic activity

The sol-gel technique was used to fabricate ZnO Nano-swirlings (ZNsw) at a predetermined agitation rate (of \u3e\u3e 1900 rpm), with around 21.94 gm of zinc acetate dihydrate and 0.2 g cetyltrimethylammoniumbromide (CTAB) and a cationic surfactant (drop-wise). The impact of the predetermined agitation condition on the molecular size and morphology of ZNsw is examined, and the outcomes are dissected by useful characterization tools and techniques viz. XRD, SEM embedded with EDS, TEM, FT-IR and UV–visible. The SEM and TEM results suggest that the product formed into a big cluster of adequate ZNsw, containing a significant quantity of folded long thread-lengths. Each group indicated a fair amount of the volume of these lengths. The photocatalytic process of ZNsw was carried out as a result of the irradiation time due to the deterioration of Azo Dye AR183, resulting in approximately 79 percent dye discoloration following an 80-min UV light irradiation in the presence of ZNsw. Additionally, the synthesized ZNsw was tested for antagonistic activity, and the growth hindrance of two plant pathogenic fungal strains found. Per cent inhibition in growth of Rhizoctonia solani and Alternaria alternata were observed in response to ZNsw

Micronuclei Formation and 8-Hydroxy-2-Deoxyguanosine Enzyme Detection in Ovarian Tissues After Radiofrequency Exposure at 1800 MHz in Adult Sprague–Dawley Rats

Human fertility and its correlation to ovarian function and cytological changes are linked to ever-increasing use of mobile phones. Wireless communications have become a critical topic of concern because of an increasing number of studies in this field with controversial outcomes. The aim of this study was to assess the genotoxic effect of GSM frequency at 1800 MHz on ovarian function. Sixty female Sprague–Dawley rats were distributed over six groups (control group and the exposure groups with whole-body exposure for 2 h/day, 7 days/week for 15, 30 and 60 continuous days). The study investigated the oxidative stress, 8-hydroxy-2-deoxyguanosine enzyme, micronuclei formation and histopathological changes in ovarian tissue. The results showed an induced oxidative stress via an increase in lipid peroxidation and decreased antioxidant enzyme activity. There was also an elevation in the 8-hydroxy-2-deoxyguanosine enzyme and an increased rate of micronuclei formation in ovarian tissues of exposed animals with 60-day exposure compared with control animals. Cytological changes were recorded such as micronuclei formation, vacuolation, degeneration and impaired folliculogenesis. The study suggests that GSM frequency at 1800 MHz was negatively impacted on female reproductive performances mediated by oxidative stress induction and 8-hydroxy-2-deoxyguanosine formation leading to overall impaired ovarian function