تہذیب اسلامی كی عالمگیریت

Now a days while Globalization has become talk of the street and through the knowledge explosion and media coverage and access it apparently seems that the world has really squeezed into a globe in hand. Before the terminology of Globalization World Order was introduced after the Gulf War. From there onwards different interpretations were presented by the people aiming World Orders, Globalization off which the international hegemony of Super Power is the right one. To achieve the goal of dominating the world and controlling all the resources became the target of Globalization. By this way Globalization became a dangerous weapon for humankind. Therefore protests and demonstrations were seen against the unwanted designs of Globalization. In this article on one hand new meanings of Globalization are introduced and on the other hand the deep rooted constructive aspect of Islamic Globalization is introduced in comparison with Western Globalization. In this way this article presents an interesting study of two civilizations

Bank Specific, Industry Specific and Macroeconomic Determinants of Bank Profitability in Pakistan

The relationship between the bank profitability and bank specific, industry specific and macroeconomic factors has important implications for a host of public policy questions. In current study, unbalanced panel data on 51 scheduled banks and 6 DFIs over a period of 2001 to 2013 has been used to provide novel estimates of bank profits and it influential factors. The empirical strategy exploits the relationship between the current profits with previous year profits to identify the dynamic characteristics of the model of bank profitability in addition to the bank specific, industry specific and macroeconomic estimates. The continuity in bank profits in Pakistan allows the current study to model the lagged profitability as determinants of bank profitability. Further this study modeled the structure-conduct-performance hypothesis (SCP); it reflects the setting of prices that are less favorable to consumers (lower deposit rates, higher loan rates) in more concentrated markets as a result of competitive imperfections in these markets and lead supernormal profits. A related theory is also modeled by the current study, the relative-market-power hypothesis (RMP), which asserts that only firms with large market shares and well differentiated products are able to exercise market power in pricing these products and earn supernormal profits. The results for current study has been obtained by us two-step generalized method of moments (GMM) technique, it deals well with the dynamic panel data sets. The results for the current study are significant and supported by the previous literature. In bank specific characteristics, lagged bank profitability, capital ratio and size found to have positive relationship with bank profits while management inefficiency and credit risk variable found to have negative and significant relationship with bank profits. In industry specific variables concentration ratio found positively associated with bank profitability. In macroeconomic factors like inflation, GDP growth rate and market capitalization have positive while money supply growth rate found to have negative effects on bank profits.