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Item Financial Stability of Islamic Banks(UMT, Lahore, 2019-09) Sidra AyoubItem Musharika Sukuk in Parallel to Ijara Sukuk– A Suggested Tool to Boost Pakistan’s Economy(UMT, Lahore, 2019-02) Sheikh Muhammad UmarABSTRACT: Project purely bases on promoting the viability of Musharika sukuk through which a strong economy can be built and it is only possible when we shall know about sukuk, its kinds and mainly knowing and then comparing Ijaraah sukuk with Musharika sukuk as in Pakistan only Ijaraah sukuk(s) are issued yet. When we talk about Ijaraah sukuk one very common question arises that is Ijaraah sukuk contributing in our economy or are simply a tool to raise funds like of bonds in conventional capital market. Whereas Musharika Sukuk by using the pure concept of Shirkat can help establish new industries, mega projects which can help increase productive activities in Pakistan and ultimately result in curtailment of unemployment, improvement of quality life of people of Pakistan, reducing the gaps of balance of trade and making the country self-sufficient. Hence in order to strengthen our arguments and to prove that issuance of sukuk on Musharika basis can really help grow our economy we shall be studying the concepts of Shirkat, its sharia rulings. Furthermore discussing real case studies of Ijaraah sukuk and hypothetical Musharika sukuk in Pakistan perspective and analyzing the benefits achieved by Malaysian economy through issuance of Musharika sukuk and in the end concluding the practicality and importance of Musharika sukuk which can help in growth of economy, and bring benefits for both GOP as well as for investors.Item Impact of Islamic capital market on Economic growth(UMT, Lahore, 2019) Majid IqbalPurpose: The basic objective of this study is to investigate that whether Islamic capital markets have any impact on economic growth. The research study also makes a comparison between three countries i.e. Pakistan, Malaysia and UAE. Methodology: The data is quarterly data which covers the period of 2009-2017. The data is time series and to see the impact of independent variables on dependent variable co-integration approach to ECM and ARDL test is been applied in Eviews 9 and Microfit 5.0. A growth model is been made for the selected countries separately in order to see that whether independent variables have any impact on the dependent variable. GDP is the dependent variable of study while IMCAP, TNI and TNL are independent variables of the study.Item Modern Islamic Financial Literacy and Role of Sharia’h Scholar(UMT, Lahore, 2019) Muhammad Abdul Rahman AlviThe advancement in the financial environment and information technology encourages Muslims and non-Muslims to make right choice of available financial products and services. In order to make timely decisions, the aspect of Islamic financial literacy is mandatory. There is a need for Islamic financial literacy research. Sharia'h scholars have key role in Islamic finance. This research aims to find out the Modern Islamic Financial Literacy and role of Sharia'h scholars. The study also discusses the level of Shariah scholars and students among Islamic finance and current affairs. The study is qualitative in nature and is focused primarily on Lahore region. The study collected data via structured questionnaire distributed to Sharia’h scholars of different working fields to investigate what is the role and level of Sharia’h scholars regarding Islamic finance. The results show that there is a positive role of Sharia’h scholars to increase Islamic financial literacy. Further, finding also shows that the level of Sharia’h students among the modern Islamic financial matters is limited. There is need to promote Islamic financial literacy and Islamic financial products awareness among public to increase adoption of Islamic banking services by the State Bank of Pakistan and other regulatory bodies.Item EFFECTIVENESS OF ISLAMIC MICROFINANCE INSTITUTIONS THROUGH CUSTOMER’S SATISFACTION IN PAKISTAN(UMT, Lahore, 2019) SHAHBAZ AKMALMicrocredit initiative is widely acclaimed as an approach to alleviate poverty and bring about development, but recently the effectiveness of the microcredit programs has been appeared to be a focus of debate in finance and economics literature. This study seeks to determine the effectiveness of Islamic microcredit programs on the comfort level of the Islamic Microfinance system in Pakistan. The research made it easy to see what effectiveness the Islamic microfinance system is bringing in SMEs sector in the country. An exploratory survey is conducted to analyze the microfinance members’ evaluation about the microfinance schemes adopted by different Islamic microfinance institutes (IMFIs) in Pakistan. The data is collected from the 88SMEs owners located near Lahore (Punjab), Pakistan. The independent variables are cost of loan, income and living standard, loan repayment policy, Shariah compliance and loan utilizing opportunities, while the dependent variable is microcredit customer’s satisfaction examined through a 5-point Likert scale questionnaire. Regression analysis is applied and found that income, loan repayment policy, loan Utilization opportunities, loan cost and Shariah compliance has statistically significant impact on the microcredit customer’s satisfaction.Item Impact of Electronic Service Quality on Customer Satisfaction of Islamic Banks in Pakistan(UMT, Lahore, 2019-05-27) Zishan NaseerIslamic banking experienced a remarkable development and increasingly challenging pace over the past decade. The concept of digital banking channel has been gaining increasing popularity not only in Pakistan but all over the world in recent years due to nature of these channels for providing faster banking services delivery to a wide range of customers. The study was conducted to investigate the influence of electron service quality on the satisfaction level of Islamic banks customers within Pakistan. The study also figured out what are the factors customers believe are hurdle in usage of digital channels offered by different banks to their customers. The study made use of a questionnaire, filled from 152 customers of Islamic banks who are using banks digital channels by random sampling. Descriptive statistics, correlation analysis and multiple regression model were employed to achieve the objectives of the study. The study found that all five electronic service quality dimensions found to have positive and statistically significantly influence on the level of satisfaction of the Islamic banking customers. The results provides Islamic banking industry regulators, central bank, academicians and practitioners useful guides in their efforts to formulate adequate electron service quality mechanism to attract and retain more customers and to promote digital banking channels.