Contemporary Issues in Current Account Operations in Pakistani IBs - Sharia Compliant Solution

Contemporary Sharia scholars have three stances about the Current Account Operations in Pakistani Islamic Banks (IBs) i.e., (i) Ijarah based contract (ii) Wadi'ah based contract, and (iii) Qard based contract. This paper is an attempt to delve into the root causes of the differences of scholars and to find the Sharia-compliant solution acceptable for all. Descriptive as well as applied approaches are used in this paper. Clearing of ambiguity on this issue may result in twofold benefits: from the public point of view, it would satisfy practising Muslims which may result in form of huge deposits in this account (ii) from IBs viewpoint the Current Account is a bonus deposit

The transformative effect of training in counselling and its application, on the community counsellors themselves

Objective: To identify the changes in community counsellors\u27 own level of anxiety and depression as a result of learning counselling skills and to explore their subjective experiences after learning and providing counselling.Design: Quantitative: Repeated Measures. / Qualitative: Focus Group Discussions.SETTING: A lower middle class semi urban community of Karachi, Pakistan.PARTICIPANTS: Twenty-one self selected women from the community.Results: Reduction was seen in the post training scores of anxiety and/or depression in the trainees. As a result of learning and then providing counselling the community counsellors\u27 self esteem, self confidence and sense of competence were enhanced and they developed a more positive attitude towards life.CONCLUSION: A minimal level of training in counselling skills and their application led to significant positive changes in the community counsellors themselves, though self-selection and information bias cannot be ruled out

Spontaneous recovery from depression in women: a qualitative study of vulnerabilities, strengths and resources

Objective: To gain insight into the perceived vulnerability and restitution factors for anxiety/or depression.Methods: Focus group discussion of seven married women recovered spontaneously from anxiety and/or depression, belonging to a lower middle class semi-urban community of Karachi.Results: Poverty, unemployment, abuse and on going difficulties were perceived as risk factors for depression. A reliable social support system, positive thinking approach, faith, prayers, and experiencing a turning point event were reported as factors that promoted recovery from anxiety and/or depression.CONCLUSION: Individual vulnerabilities, strengths and resources can have an important role in recovery from anxiety and/or depression in women

Does the Performance of Banking Sector Promote Economic Growth? A Time Series Analysis

Purpose: In terms of stimulating the economy, banks play an essential role. These banks directly or indirectly influence the economic growth (GDP) of a country. This study analyses the association between banks' performance and GDP growth.   Theoretical Framework: The banking sector acts as an effective mechanism that funds various projects all over the country.  The majority of such studies focus on developed nations. Although there is a great deal of literature on this issue concerning developed markets, there is a lack of literature related to emerging and developing economies (Sensarma & Bhattacharyya, 2016). This study has been undertaken to analyse the influence of banks on India's economy, which is a developing economy   Design/Methodology: The data of the study includes the independent variables that indicate banking performance. The proxies used for the bank's performance are: bank nonperforming loans to total gross loans (%) (NPL), domestic credit provided by the financial sector (% of GDP) (DC), Return on Equity (ROE), bank capital to assets ratio (%) (CAP), and regulatory capital to risk-weighted assets (CAR). At the same time, the substitute for economic growth is growth in domestic product (GDP). All organised banks operating in India form the sample of the study. The period of study is from 1990 to 2029. To test the hypotheses, simple regression, multicollinearity tests, and ordinary least square (POLS) are performed.   Findings: The findings indicate that a few of the variables such as domestic credit, return on equity, and capital adequacy ratio, which are linked to the bank's operational and financial efficiency, are correlated with India's GDP growth. The study's empirical results recommend that this country's (India's) policymakers should assist the banking sector by laying down new growth and developmental policies that will strengthen the banking sector, which will in turn strengthen the economy.   Research, Practical & Social Implications:  This study shows that Indian banks have a major impact on Indian economic growth. It also identifies the primary banking attributes that influence GDP. Such a study will help policymakers and researchers understand the significant contributors to economic growth.   Originality and Value: There are many studies that have studied the determinants of GDP. But this is the first study that has tried to establish the impact/relationship of banking variables on GDP growth