The finance-growth nexus: is finance supply-leading or demand-following in islamic finance ? evidence from Malaysia

This paper attempts to investigate the Granger-causality between Islamic banks and economic growth. Malaysia is taken as a case study. The methodology adopted is the standard time series techniques. The results tend to suggest that Islamic bank financing leads growth and other variables, being the most exogenous compared to others. In other words, the finance is supply-leading rather than demand-following in the context of Islamic finance in Malaysia. Thus, this finding has clear policy implications for the government to keep on enhancing Islamic banks’ development leading to a positive economic growth

Oil price and the global conventional and islamic stock markets: Is the relationship symmetric or asymmetric ? evidence from nonlinear ARDL

The objective of this study is to investigate the relationship between the global oil and stock markets using the Islamic and conventional global stock indexes. We test the short- and long-run asymmetric impact of oil prices on both the conventional and Islamic stock prices in the global markets. The nonlinear ARDL approach developed by Shin et al.(2014) is utilized to examine the asymmetric relationship between the variables. The results tend to indicate that the impact of oil prices on stock prices is asymmetric during the short-run for both the Islamic and conventional stock markets. However, the long-run asymmetric relationship exists for the impact of the Oil price on Islamic stocks only and not on conventional stocks.The results carry important policy implications for the investors and policymakers

Is gold a better choice as reserve currency for smaller market economies?

The objective of this paper is to statistically analyze whether gold is a better choice as reserve currency for smaller market economies using the Vector Auto Regression (VAR) model. This study involves the gold price movement relative to 5 selected equity indices price movement namely 3 in major market economies –DJIA in US, FTSE in UK, and NIKK in Japan – and 2 from the smaller emerging market economies – KLCI in Malaysia, and IRTS in Russia for a span of 15 years. This paper also attempts to identify the endogeneity and exogeneity of the variables under study. The policy implication from our study, in fact, answers our main research objective that YES, gold is a better currency in reserve baskets. And for this very reason also, there is a need to restore gold as the standard international payment system (Askari and Krichene, 2014). The usage of gold in the international Islamic gold standard serves as the natural foundation of money which safeguards against governments’ debasement of money and inflationary deficits. It removes the major source of instability, which is interest-based credit and the major cycles of crisis it brings. Hence, only risk and uncertainty which is a part of nature, enterprise and investment remains

Should we assume accuracy of point of care glucose meters? An observation from a tertiary health care centre

Background: Self-monitoring of blood glucose is important in the management of patients with diabetes mellitus in the community as well as in the hospital. It has been used for calculation of insulin doses of individuals with dysglycaemia and monitoring of glucose control. Errors in the measurement of the blood glucose can lead poor management of a patient. There is therefore the need to ensure standardization of these meters in order to achieve accuracy and precision.Objectives: To evaluate the precision and accuracy of four glucose meters commonly used for self-monitoring of blood glucose (SMBG) in a tertiary health care Centre compared to the reference laboratory method.Materials and Methods: We analyzed blood glucose samples of 55 diabetic patients who came to diabetes clinic using 4 different glucose meters (Accucheck active, Novo max extra, One touch Ultra 2 and On call plus (accoson)). Capillary and Venous blood samples were taken simultaneously from each patient for analysis using four blood glucose meters and laboratory reference method respectively. The laboratory value was used as a tool for comparison. The accuracy and precision were evaluated by the ISO and ADA criteria. The results obtained were analysed using Bland Altman graphs, correlation coefficients, scatter plots and Clarke's error grid analysis.Results: We observed good correlation between two glucose meters (AccucheckTM and NovomaxTM) and laboratory analyzed values. Among the glucose meters AccucheckTM, NovomaxTM, One touch UltraTM and On call plusTM, the correlation coefficient was 0.97, 0.96, 0.88 and 0.69 respectively. The degree of agreement of the laboratory method and the AccucheckTM, NovomaxTM, One touch ultraTM and On call plusTM glucose meters was 89.09, 80.00, 76.20 and 71.32% respectively. Accucheck and NovomaxTM were within ±20% accuracy (14.5% and 16.1%).Conclusion: There is a need for adequate and appropriate evaluation of all glucose meters in our setting before that we deploy them for use. None of glucose meters met the ISO target. Only one glucose meter (AccucheckTM) met the ADA guideline for accuracy.Keywords: Accuracy; glucose meters; diabetes mellitus; self-monitoring of blood glucos

Knowledge and practices related to stroke prevention among hypertensive and diabetic patients attending Specialist Hospital, Sokoto, Nigeria

Introduction: Stroke has become a problem of public health importance worldwide. Knowledge and practices related to stroke prevention among hypertensive and diabetic patients are important in the control of the disease. In Nigeria, recent reports indicate an emerging epidemic of stroke. This study aimed to determine the knowledge and practices related to stroke prevention among hypertensive and diabetic patients in Sokoto, Nigeria. Methods: This was a cross-sectional study among 248 patients attending hypertension and diabetes clinic of Specialist Hospital, Sokoto, Nigeria, selected by systematic sampling technique. A semi-structured questionnaire was used to collect data on the research variables. Data were analyzed using IBM SPSS version 20 statistical package. Results: The mean age of respondents was 48.21 ± 15.07 years and they were predominantly females (65.7%). The respondents had good knowledge of stroke (70.3%), organs or parts of body affected by stroke (89.1%), signs or symptoms of stroke (87.0%), stroke risk factors (86.6%) and stroke prevention (90.8%). Formal education was the sole predictor of good knowledge of signs or symptoms of stroke (aOR = 3.99, 95% CI = 1.58-10.13, p = 0.004), stroke risk factors (aOR = 4.24, 95% CI = 1.68-10.67, p = 0.002) and stroke prevention (aOR = 3.45, 95% CI = 1.09-10.93, p = 0.035). Stroke prevention practices were sub-optimal and significantly associated with formal education and being employed. Conclusion: These findings suggest the need for all stakeholders to focus on both patients' education and empowerment in halting the rising burden of stroke across the globe

Stock Prices and Exchange Rates Dynamics in South Africa: An application of Asymmetric Co-integration Approach

Abstract. We applied asymmetric cointegration approachtoinvestigate the impacts of stock prices on exchange rates in South Africa using monthly data from January 1980 to May 2014. The empirical finding shows that the two macroeconomic variables are cointegrated using traditional Engle-Granger approach. While TAR model shows no element of cointegration, MTAR model revealsthat there is long-run relationshipbetween the variables and they are asymmetrically cointegrated as signifies by both F-equality and F-joint respectively. Using Enders & Siklos (2001) table we reject null hypothesis of no cointegration at 5% significance level. This means that stock prices influences exchange rates in South Africa and the speed of adjustment is non-linear, when share price changes exchange rates equally changes but not in the same proportion with that of share prices. The policy implication is that the authorities in this country should focus more on stabilizing their exchange rates in relation to other major global currencies more especially American dollar. When the value of Rand continues to increase the economy will be less competitive internationally at the same time the value of the stocks might be unattractive even to international investors.Keywords. Stock prices, Exchange rates, Cointegration, Asymmetric, TAR, MTAR.JEL. D51, H54, O24

Stroke in patients with diabetes mellitus: a study from North Western Nigeria.

Background: Stroke is one of the major causes of morbidity and mortality worldwide and apart from being exceedingly harmful in diabetics, stroke is a disabling disorder. The study was undertaken to describe the clinical characteristics, outcome pattern and predictors of mortality in a cohort of diabetic patients presenting with stroke in two tertiary health facilities in North Western Nigeria. Method: Out of all stroke patients seen from June 2007 to February 2011, persons with diabetes mellitus presenting with stroke in the emergency unit of the two tertiary hospitals in Kano were consecutively recruited for the study. Classification of stroke into hemorrhagic and infarctive subtypes was based on brain computerized tomography (CT), brain magnetic resonance imaging (MRI) and World Health Organization (WHO) criteria. Follow-up period was for thirty days. Result: Out of the five hundred and thirty six stroke patients seen during the study period, 85 (15.9%) patients, comprising 48 (56.5%) males, had diabetes. Thirty eight (44.7%) of the identified diabetics were previously undiagnosed. Sixty four (75.3%) had infarctive stroke. One-month case fatality rate was 30.6%. Factors associated with death included male sex, past history of TIA, abnormal respiratory pattern, hemorrhagic stroke, aspiration pneumonitis, and worsening GCS. Aspiration pneumonitis and worsening GCS were independent predictors of one month mortality of stroke in the patients. Conclusion: In DM patients studied, infarctive stroke was more common, case fatality was 30.6%. Male gender, past history of TIA, abnormal respiratory pattern, hemorrhagic stroke, aspiration pneumonitis, and worsening Glasgow Coma Score (GCS) were associated with mortality. Aspiration pneumonitis and worsening GCS were independent predictors of one month mortality of stroke in diabetic patients

Alternative Treatments for Pain through Dhikr, Hijamah and Herbal Medicine as Integrative Medicine

Most people suffer pain at some stage of their lives. Therefore, pain is the most common reason to seeking therapeutic alternative or conventional medicine. Pain management particularly in chronic pain due to postoperative is systematically have been developed by various great recommendations that assist the health care practitioner and patient in making decisions about health care. In recent years, we have developed a better understanding of the pathomechanisms that link inflammation and peripheral sensitization about pain which can be overcome through an alternative treatment. This approach is known as complementary and alternative medicine (CAM). The development of the combined health approach has lately been known as Integrative Medicine, which seeks to restore and maintain health by understanding a series of patients’ unique circumstances and overcoming their various physical, psychological, environmental, and spiritual influences. Through “whole system” treatment will be to elaborate an integrated approach, by dhikr, hijamah, and herbal medicine for facilitating the transition from viewing “pain” only as a matter of specific bodily functions (specific) to a more holistic view at the systemic level through integrative medicine to health care with a broader holistic approach

Reliability analysis of a linear consecutive 2-out-of-3 system in the presence of supporting device and repairable service station

This paper studies the reliability characteristics of a linear consecutive 2-out-of-3 cold standby repairable system operating with the help of a repairable external supporting device with preventive maintenance. A repairable service station is set aside to repair any failed unit. The system is analyzed using first order linear differential equation to develop the explicit expression for steady-state availability, busy period, profit function and mean time to system failure (MTSF). Based on assumed numerical values given to system parameters, graphical illustrations are given to highlight important results. Comparisons are performed to highlight the impact of preventive maintenance and found that the 2-out-of-3 cold standby system with preventive maintenance, supporting device and a repairable service station is better