خون حرا م ہے: حلال انڈسٹری کے بنیادی قرآنی معیار کا تحقیقی جائزہ

Healthy nourishment depends on healthy food. General consideration of people is of being the food safe and edible for human consumption not its effect on their spiritual selves but the Islamic terms Ḥalāl and Ḥarām emphasis on both physical and internal safety. Islam commands to avoid doubtful and dubious things rather than to use Ḥarām. The unprecedented evolution and advancement of science and technology caused a revolution in the food-science and technology as well. Many new and innovative flavors etc. Took place of organic and natural consumables. Accordingly, the Muslims were in dire need of a robust system which would be able to convince them of the Ḥalāl status of the daily consumables. The article investigates the Sharī’ah stand on the issue of blood in the light of Qur’ān, Sunnah and comparative jurisprudence study, and modern sciences related to blood. Keeping in mind the Globalized Halal Industry all the researched is coupled with combined comparative study of all Schools of Islamic Fiqh, to make easy the way of Unified Halaal Standard regarding the blood. Under the main title The paper comprises subtopics of an introduction and few chapters, which deal with definition and functions of blood, types of blood, difference between blood of aquatic and land animals, comparative study of modern sciences related to blood and Shariah status of use of the blood in various industries in term of Halal and Haram.

Impact of Leverage and Liquidity on Performance of Firms

The study is made to explore the impact of leverage and liquidity on the performance of firms. Liquidity and leverage are two of the most important pillars and on these pillars whole operations of the business stand. This research has attempted to establish a relationship between leverage and liquidity with the financial performance of firms operating in Pakistan. Some selected textile firms operating in Pakistan were selected as sample for the research. The data of 76 textile firms was collected. The variables included in this research relating to leverage are as follows total debt to total asset ratio, short term debt to total asset ratio and long term debt to total asset ratio. Liquidity was calculated by using current ratio only. Size was included as control variable. Seven performance variables are used in this research like ROE, ROA, and EPS etc. Descriptive, correlation and panel data analysis were made. Panel data test was applied to find regression between variables. The findings of this research were that low leverage ratios mean high performance as it is negatively associated with performance. Liquidity was significantly and positively related to the performance of textile firms. All the variables except stock price (SP) have positive and significant relationship with the leverage and liquidity of the textile firms. Stock price has no relation with the leverage of the firm while, positive and significant relation with the liquidity of the textile firms. Government should take considerable steps in promoting investment and growth of textile sectors_ Management should formulate careful strategies relating to the decisions involved in the capital structure and liquidity. The similar research can be repeated by adding new variables and by changing the nature of study into exploratory research.