Islamic Microfinance: An Overview and Prospects in Pakistan

This paper will highlight the significance importance of the Islamic microfinance working in Pakistan as well as across the world. In 2007, the Great economic damage the global economy of the world including United States, European Union as well as Asia, it made the researcher to study about the alternate system in the replacement of Conventional Financial System, after that study and research they recognized that there is no concept of interest in Islamic Financial System, it is totally based on asset-based system, this recognition shift their area of interest from conventional financial system to Islamic financial system. Islamic financialSystem plays a significant role in economic growth of a country through accumulation of deposits and providing the plate form of financing to speed up economic activities. In the last two decades, the traditional microfinance is replaced by the Islamic microfinance in Pakistan as well as in the whole world. This paper will highlight the working methodology of Islamic microfinance models and institutions that how these Islamic microfinance institutions working asan interest free sector in Pakistan and in the world. The paper is also highlighting the difference between conventional micro financing and Islamic micro financing that what are the models and functions that differs the Islamic micro financing from the traditional micro financing.

Structural and Superconducting Properties of Cutl-12 N-1 N N = 3, 4/Nanostructures Composites

Nanostructures/(CuTl) 0.5 Ba 2 Ca n-1 Cu n O (2n+4)–δ , {CuTl-12(n-1)n}; n = 3, 4} superconducting composites were synthesized by solid-state reaction (SSR) technique and their superconducting behavior was examined by different available experimental techniques. Anti-ferromagnetic chromium (Cr) nanoparticles (NPs), ferromagnetic cobalt (Co) and nickel (Ni) NPs, non-magnetic zinc (Zn) NPs and carbon nanotubes (CNTs) of different wt. % have been inserted in CuTl-12(n-1)n; n = 3, 4 superconducting matrices and their effects on the structure, morphology and composition was carried out by X-ray diffraction (XRD), Fourier transform infrared (FTIR) spectroscopy, scanning electron microscopy (SEM) and energy dispersive X-ray (EDX) spectroscopy. The transport properties and magnetic field response were explored by restivity versus temperature (RT) measurements with the help of four point probe method and ac-susceptibility (χ ac ) measurements, respectively. The experimental data was further analyzed theoretically by different models such as Aslamazov-larkin (AL), Lawrence-Donaich (LD) and Maki-Thompson(MT) models. It has been observed that the inclusion of different nanostructures (NS) in polycrystalline CuTl-12(n-1)n; n= 3, 4 superconducting matrices do not change their tetragonal structure and stichoimetry. Increasing concentrations of magnetic NPs (Cr, Co,Ni) additions in host CuTl-12(n-1)n}; n= 3, 4 superconducting matrices reduce the diamagnetic strength and superconducting volume fraction and cause suppression in characteristic superconducting parameters. The suppression of superconducting parameters after addition of these magnetic NPs can be accredited to spin scattering of carriers due to net magnetic moment, which tend to remain align in particular blocked state and oxygen disorder in superconducting regions. Non-magnetic Zn and CNTs also diminish superconductivity because of enhanced carrier scattering cross section at inter- crystallite sites. Theoretical fluctuation induced conductivity (FIC) analysis confirm the suppression of superconducting characteristic parameters by these NS inclusions in CuTl- 12(n-1)n}; n= 3, 4 superconducting matrices. Decrease in coherence length (ξ), increase in penetration depth (λ p.d ) and shifting of 3D regions towards lower temperature values illustrate the increased insulation at grain-boundaries and decrease in optimum charge carriesr density after addition of these NS in CuTl-12(n-1)n}; n= 3, 4 superconducting matrices