98. Al-Bayyinah/The Clear Evidence
I/We begin by the Blessed Name of Allah
The Immensely Merciful to all, The Infinitely Compassionate to everyone.
98:01
a. Those who disbelieve from among the Followers of the Former Scriptures and the idol- worshipers,
b. will not give up their disbelief until a Clear Evidence was presented to them,
98:02
a. through a Messenger from Allah, reciting purified scripts, and
98:03
a. containing clear instructions for them.
98:04
a. Yet those who were given the former Scriptures did not challenge and become divided into factions until after this kind of Clear Evidence came to them.
98:05
a. Even though all they were commanded to:
- submit to Allah alone in awe, reverence, and worship,
- sincerely devote religion exclusively to HIM, being Haneef, and
- establish the Salat/Prayers and
- pay out Zakat/annual charity
b. for that is/are the parameters of a Religion – Right and Straight.
98:06
a. Indeed, those who continue to disbelieve – even after Clear Evidence has come to them
- from Followers of the Former Scriptures and the idol-worshipers will be in the Fire of Hell - there to remain - never to leave, never to die.
b. Those - they will be the worst of created beings.
98:07
a. However, those who believe and practice righteousness,
b. those - they will be the best of created beings.
Surah 98 * Al-Bayyinah 749
98:08
a. Their reward is going to be with their Rabb - The Lord:
b. Gardens of Perpetual Bliss - through which rivers/streams flow - to live therein forever,
never to leave, never...
The action code of Islam is impartial and strong. All human beings, disabled and abled have the right of gaining justice and bound to giving justice. Because of disableness impartial behavior is against the Islamic justice code. The “good behavior” with disabled persons is the basic law of disableness in Islam. The “good behavior” with disabled persons in Islam is not the result of mercy and pity but is the result of that right of taking equal to the life of common people which is due to the nation and community. Hence the rights of disabled persons are the result of those requirements which are created due to disableness. The meaning which we take conventional is “complete worthlessness” but it means in Islam weak and feeble. That is to say disable person is able to work but he has less ability. Or he has no ability to do one job but has the ability of high rank to do other jobs. The Holy Prophet (Peace be upon him) introduced first time this principle of disableness. The Arabs mean the word “disableness” complete uselessness. But the Holy Quran exempted the persons from Jehad not taking part in Tabuk battle because of disableness giving them the name of feebles. Islam does not appeal for mercy with disabled persons but advised to behave well with them and condemns also the injustice of society with them. Islam orders to perform one’s duties to others. Islam not only stresses on the performance of duties but also gives instructions in this connection.
This study examines the insight dynamics of factors affecting dividend payout in the context of Non-Financial firms listed at Pakistan Stock Exchange (PSX) in KSE-100 Index. Through observation, 66 firms were identified from 18 sectors of Non-Financial firms that have been paying the regular dividend in the past 6 years (2009-2014). In this study, a complete business cycle has been encompassed for reader?s view. Key explanatory variables were identified on the basis of prior literature (Dividend Payout, Cash Flow on Total Assets, Debt to Equity, Profitability, and Liquidity) and one which has not been studied before and considered significant is Free Cash Flow to Capital Expenditure. For econometric analysis of the data, Multivariate Regression Analysis was considered as a most appropriate tool. Descriptive statistics of data under study described its normality. In empirical analysis, Housman and BPLM tests declared random effect exist in the panel data. Moreover, data was found free from contemporaneous correlation, multicollinearity issue, and autocorrelation but the issue of heteroscedasticity has been found. Results of the study revealed that free cash flow to capital expenditure, debt to equity, net profit margin and current ratio are significantly impacting the dividend payouts. However two measures are insignificant that are cash flow to total assets and absolute liquidity ratio. These results suggest that Managers of the listed firms in Pakistan Stock Exchange (PSX) should aim to increase the meaningful cash flows to capital expenditure for the profitable projects that would yield high profits to firms, this will lead to high dividend and improve the investors? confidence.