INTEGRATION OF FINANCIAL RISKS WITH NON FINANCIAL RISKS: AN EXPLORATORY STUDY FROM PAKISTANI CONTEXT

This research seeks to put forward a framework, from the perspective of practitioners and policymakers in Pakistan, about Financial and Non-Financial Risks integration and their impact on the Performance of Financial Institutions. We define total bank risk in terms of earnings volatility, which can be broken down into five major classes namey: market, credit, asset/liability, operational, and business. Out of these market, credit and Asset Liability risks are Financial Risks whereas operational and business risks are non-financial. Based on the thematic analysis of unstructured interviews of experts from the banking industry we position five sources of bank risks. We observe that the impact of Financial Risks decrease and Non-Financial Risks increase, along a spectrum from market risk to credit risk, asset/liability risk, operational risk, and business risk. The framework from this study could also be used to quantify total bank risks and contribution from each

Input Efficiency of Financial Services Sector: A Non-parametric analysis of Banking and Insurance Sectors of Pakistan

Purpose In an attempt to enrich the literature of the efficiency of financial services sector with holistic perspective, this study aims to empirically investigate the input efficiency of banking and insurance sectors with further probe into Islamic segments of these sectors in Pakistan.Design/methodology/approach This study measures the technical, allocative, cost, and scale efficiencies of banking and insurance firms in our sample using the non-parametric frontier method, data envelopment analysis (DEA).Findings The findings show that, on average, the allocative efficiency of the overall Islamic financial services sector has increased during the period of study and has also remained well above their conventional counterparts. The study also revealed that, insurance sector is more technically efficient than banking sector. Finally, the study also found that overall efficiency of financial sector can also be improved by exchanging experts between two sectors.Originality/value The results of this research study provide empirical findings as to how two segments of Financial Services Sectors had fared in the competitive environment from 2007 to 2015

Consumption of Family Takaful affected by Microeconomic Factors: A Case Study of Islamic insurance Takaful in Pakistan

This study empirically verifies the link between macroeconomic variables (i.e. income per capita, savings, inflation, stock and index) with the demand for Family Takaful in the context of Pakistan using time-series data from 2006 to 2016 of Pak-Qatar Family Takaful Company and Dawood Family Takaful Company. It was concluded from this study that per capita income is a strong forecaster of Family Takaful demand in Pakistan, while other macro-economic factors such as KSE composite index has significant and positive relationship with Takaful demand in Pakistan. The other three variables i.e. saving, interest rate and inflation are having insignificant relationship with Family Takaful demand in Pakistan

Demystifying the Theoretical Framework of Research in Islamic Finance: A Review of Literature

This research takes insights into the research on Islamic finance before and after the occurrence of financial crisis to rediscover its linkages with Islamic socialism and capitalism across international boundaries to establish grounds of Islamic finance theoretical framework. It takes extensive review of literature on Islamic Socialism, Capitalism and Islamic Capitalism taking into account differences in practices of Islamic finance in Islamic and non Islamic countries. Research in Islamic finance has great linkages with Islamic socialism, Islamic capitalism and capitalism as affected by the occurrence of financial crisis during the period of research. The originality value of this research work lies in the novel selection of period of research literature, and the discovery of theoretical framework in Islamic finance research, “Islamic socialistic capitalism”.

Enterprenuerial Motivation Amongst University Students in Pakistan: Proposing and Testing a Mediation Model

Objective of this research is to explore factors that contribute towards entrepreneurial motivation amongst university students in Pakistan. Data of 500 respondents from HEC recognized universities in Pakistan has been collected and analyzed for the purpose of our research. Data has been gathered from students of different degree programs commerce, business administration, banking and finance, and marketing department of public and private universities of Pakistan. A mediation model has been proposed and tested in order to achieve our objectives. Data has been analyzed using different econometric and statistical techniques. The results suggest that there exists some “psychological†and “economic†factors that influence the entrepreneurial motivation of university students in Pakistan. Over and above, there also that exits a group of psychological factors that partially mediate in our model. &nbsp

Efficiencies in Islamic banking: A bibliometric and theoretical review

This study takes an intensive review of literature on Islamic bank efficiencies highlighting regional efficiency trends, contributing factors and integrated framework. Bibliometric and content analysis have been used to analyse 99 articles published between 2002 and 2019 taken from ISI Web of Science and Scopus contributed by leading authors, journals and regulatory bodies. This study makes various contributions with respect to effects of choice of variables, changes in choice of variables, difference in applicability of laws of return in various global locations, size of the organisations, efficiencies during crisis, Shariah compliance cost, framework for analysing efficiency of an Islamic bank and supervisory effects. The conceptual framework identifies outcomes of value creation, performance improvement and minimisation of failures

Response of Financial Markets to COVID-19 Pandemic: A Review of Literature on Stock Markets

The objective of this research is to consolidate the literature published on the COVID-19 crisis impact on global stock markets to gain managerial implications from the crisis. It performs a thematic bibliometric review of the literature published in Scopus-ranked journals since the beginning of the pandemic using FCWI, Piecharts, and VOSViewer. It identifies the most under-researched regions and eight emerging sub-themes. The research finds that the benchmark theme is market behavior during the COVID-19 crisis, whereas an emerging benchmark theme is the markets after the COVID-19 crisis. The holistic view of the literature supporting eight sub-themes suggests that the government's role is of utmost importance to handle the impact of the COVID-19 crisis, which should be industry-specific. It identifies that all eight sub-themes of the research are the future research directions in all and specifically in the South American, African, South East Asian, and Oceania regions till the crisis continues. Doi: 10.28991/ESJ-2023-SPER-03 Full Text: PD

Effects of Halal social media and customer engagement on brand satisfaction of Muslim customer: Exploring the moderation of religiosity

Purpose The purpose of this research is to examine the factors that affect brand satisfaction of a Muslim customer who is making purchases from selling outlets on social media. Design/methodology/approach The study used a new mechanism of sampling for research studies relating to social media which. Further, we used hierarchical regression to analyze the moderation effects of religiosity. Findings The authors’ findings suggest that religiosity has moderation effects on the relationship between halal social media and brand satisfaction of a Muslim customer and even higher moderation effects on relationship between customer engagement and brand satisfaction of a Muslim customer. Research limitations/implications The respondents of this research are completely unknown as the data has been collected from google-docs link sharing arrangement. Practical implications This study identifies factors that need to be focused on winning the brand loyalty of a Muslim customer. Originality/value This study provides a new sampling methodology to be used for the purpose of studies related to social media, which has been labeled as “social-media disguised snow ball sampling”. Further, this study is one of the few studies in the area of “halal social media”

Freely dissolved Organochlorine Pesticides (OCPs) and Polychlorinated Biphenyls (PCBs) along the Indus River Pakistan: Spatial pattern and Risk assessment

Freely dissolved OCPs and PCBs were measured by using polyethylene passive samplers at 15 sites during 2014 throughout the stretch of the Indus River to investigate the spatial pattern and risk assess. Levels (pg/L) of dissolved ∑OCPs and ∑PCBs ranged from 34 to 1600 and from 3 to 230. Among the detected OCPs, dissolved DDTs (p,p′-DDE, followed by p,p′-DDT) predominated with levels of 0.48 to 220 pg/L. The order of occurrence for other studied OCPs was as follows: HCB, endosulfans, chlordanes, and HCHs. Spatially, dissolved (pg/L) ∑OCPs varied (p \u3c 0.05) as the following: surface water of the alluvial riverine zone (ARZ) showed the highest levels (114) followed by the frozen mountain zone (FMZ) (52.9), low-lying zone (LLZ) (28.73), and wet mountain zone (WMZ) (14.43), respectively. However, our zone-wise PCB data did not exhibit significant differences (p \u3e 0.05). Principal component analysis/multilinear regression results showed pesticide usage in the crop/orchard fields and health sector, electric and electronic materials, and widespread industrial activities as the main source of OCPs and PCBs along the Indus River. Our results showed that OCPs and PCBs contaminated water intake, playing an important role towards the considerable cancer/non-cancer risk (HI and CR values) along the Indus River Flood-Plain

Novel CNGA3 and CNGB3 mutations in two Pakistani families with achromatopsia

PURPOSE: To identify the genetic defect in two Pakistani families with autosomal recessive achromatopsia. METHODS: Two families (RP26 and RP44) were originally diagnosed with retinal dystrophy based upon their medical history. To localize the causative genes in these families, homozygosity mapping was performed using Affymetrix 10K single nucleotide polymorphism (SNP) arrays. Sequence analysis was used to find the mutations in candidate genes cyclic nucleotide-gated channel alpha-3 (CNGA3; family RP26) and cyclic nucleotide-gated channel beta-3 (CNGB3; family RP44). Control individuals were analyzed by allele-specific PCR for the CNGA3 mutation and BstXI restriction analysis for the CNGB3 mutation. After genetic analysis, clinical diagnosis was re-evaluated by electroretinography and color vision testing. During the course of this study, selected affected members of family RP26 were given pink glasses as supportive therapy. RESULTS: Sequence analysis of the positional candidate genes identified a novel missense mutation in CNGA3 (c.822G>T; p.R274S) in family RP26, and a novel CNGB3 frameshift mutation (c.1825delG; p.V609WfsX9) in family RP44. Clinical re-evaluation after genetic analysis revealed that both families have segregating autosomal recessive achromatopsia. CONCLUSIONS: Genetic analysis of two Pakistani families with retinal disease enabled the establishment of the correct diagnosis of achromatopsia. Two novel mutations were identified in CNGA3 and CNGB3 that are both specifically expressed in cone photoreceptors. Re-evaluation of the clinical status revealed that both families had achromatopsia. The use of pink glasses in patients was helpful in reducing photophobia and enabled rod-mediated vision