Lunar Calendar and Ramadan Effect on Islamic Mutual Funds Performance in Pakistan

This report is principally intended to ascertain out the result of the lunar calendar with special focus on the holy month of Ramadan on the operation of Islamic mutual funds in Pakistan. Economic activity in Pakistan demands a different turn due to observation of fast and short working hours in the country in the month of Ramadan. This work utilizes the logit model to investigate the impact of lunar calendar generally and the holy month of Ramadan, specifically along the net asset values of the mutual fund. This study confirms lower expected growth of net asset value in the month of Ramadan and the other stages of the religious sentiment. Economic activity regains pace after Ramadan and Zulhajjah as evident from the probable increase of net asset value of the Islamic mutual funds in the month of Shawwal & Moharram following months of the Ramadan and Zulhajjah respectively.

Institutional and Familial Perspectives and Level of Parents’ Involvement in Their Children’S Education in Public Schools of Kech, Balochistan

The aim of this study was to explore the perspective and level of parents’ involvement in education of their children, who are studying in primary level of four public schools of District Kech Balochistan. The head teachers, teachers and parents’ perceptions were explored about their understanding of parental involvement and their level of involvement. The study followed a case study design. Data were gathered through interviews and focused group discussion of the participants head teachers, teachers and mothers. Four head teachers, four focused group of teachers and six parents were the sample from four public school. The findings of the data show that head teachers, teachers and parents had no clear understanding of the policy structure of parental involvement and there is no parent teacher body or association in the schools. It was also found that parents and principals were not working closely and parents were not encouraged to be actively involved in school activities. It was found that parents, head teachers and teachers thought that parental support at home is enough for parents’ involvement in their children’s education. It was also revealed that parents who are literate were more involved in their children education as compared to those who were illiterate. Moreover, it was also found that parents who are financially weak are more engaged in earning their livelihood and less involved in their children’s education. Thus, the finding of the research will be helpful for the school leaders who are engaged in managing school. This study recommends that school leaders encourage parents to become involve in their children’s education within the school. This involvement helps to develop positive partnership between parents, teachers and school.