گرامیؔ، غلام قادر، شیخ
حضرت گرامیؔ
ہندوستان کے کہنہ مشق اور فارسی کے مسلم الثبوت شاعر حضرت گرامی نے ۲۶؍ مئی ۱۹۲۷ء کو چند روزہ علالت کے بعد اس دنیائے فانی کو الوداع کہا، مرحوم پنجاب کے ضلع جالندھر کے رہنے والے تھے، فارسی شاعری سے ان کو فطری لگاؤ تھا، کچھ دنوں امرتسر کے ایک اسلامی مدرسہ میں معلم رہے، پھر اعلیٰ حضرت نظام سابق مرحوم کی قدر شناس نگاہ نے ان کو تاکا اور اپنے دربار کا فارسی شاعر مقرر کیا، اخیر عمر میں حیدرآباد سے جالندھر آکر جب قیام کیا تو ان کی صحبت اور فیض اثر سے متعدد نوجوان اردو شاعر پیدا ہوئے، جن میں ابولاثر حفیظؔ اور سالکؔ کے نام سب سے اونچے ہیں، ڈاکٹر اقبال نے بھی جب سے فارسی میں کہنا شروع کیا، ان سے استفادہ میں دریغ نہیں کیا، زبان کے معاملہ میں وہ ان کی سند تھے، افسوس ہے کہ اب کشورِ ہند ایسے یگانہ نامور کے وجود سے خالی ہوگیا۔
مرحوم سے صرف ایک دفعہ آل انڈیا شعراء کانفرنس دہلی منعقدہ ۱۹۲۳ء میں ملاقات ہوئی تھی، بے حد ملنسار، متواضع اور مرنجان آدمی تھے، ایک سال پہلے تک ان کے اکثر خطوط میری عزت بڑھاتے رہتے تھے اور کبھی کبھی معارف کے صفحوں کو بھی اپنے نغموں سے معمور کیا کرتے تھے، مولانا شبلی مرحوم کے تعلق اور ان سے حیدرآباد کی یک جائی اور شاعری کی ہم پیشگی کا اثر یہ تھا کہ وہ مولانا مرحوم کی اس یادگار کو بزرگانہ محبت کی نگاہوں سے دیکھا کرتے تھے، افسوس کہ یہ فیض اب ہمیشہ کے لئے بند ہوگیا۔
(سید سليمان ندوی، جون ۱۹۲۷ء
"An analysis of the allegations of extremism and terrorism against religious institutions (Madrasas)". The priceless services done by the religious scholars for the preservation and uplift of religious and Islamic values in the subcontinent are indelible and unforgettable chapter of history. They geared up progress of religious institutions and the tilt of people towards them of the increasingly charming trend. The Heathen world is afraid of the emerging strongholds of Islam. The repercussions of this trend on society are becoming more and more prominent with the march of time. They are striving for the preservation and identity of the Islamic characteristics. After 9/11 incidents, the west is unable to understand how to detach the religious institutions from the embedded Islamic social integrity. The western media and foreign funded rulers have been endeavoring hard to defame religious institutions through there venomous propaganda against them. All this is visible to everyone. There is no parallel of the religious institutions educational boards (Wafaqs) in and outside the country even no such example is present in the whole Islamic world as well as in the subcontinent. Besides other baseless allegations, religious institutions are branded as terrorists and extremists. The west and America are much worried about the Islamic educational institutions and the Holy war (Jihad). The article encompasses the opinions of the regious as well as secular apostles. In a nutshell, all the allegations of extremism and terrorism are not only baseless but just a propaganda.
Legal experts and economists advocate that the century-old debt-equity distinction is responsible for the global financial crisis (GFC) and instability.This regulation advocates and subsidizes debt (unlike equity financing) as tax deductible.This regulation, in turn, reduces the cost of debt financing and eludes debt as a relatively cheap source of financing. Later, theoretical developments related to corporate financing policies explicitly materialized interest tax deductibility and advocated debt over equity financing.Researchers have highlighted the need to reframe these debt subsidizing corporate tax regulations.This thesis offers a critical analysis of debtincentivized corporate tax and financing policies and provides an Islamic perspective on this vital tax deductibility debate.This study aims to help abolish the corporate tax incentive to debt and shift the incentive toward equity. This study also attempts to empirically test the implications of proposed interest taxability and dividend tax deductibility on corporate financing policies. This thesis estimates a modified Modigliani and Miller (1963), (later M & M) firm valuation model to incorporate interest taxability and dividend tax deductibility.The estimated model is linear and static to the single period t.This thesis uses a simulation technique to evaluate the estimated model and conducts various policy experiments to observe the potential impacts of proposed policy reforms on a firm’s cost of capital and overall value.The simulated results indicate that, in the presence of debt tax incentives, firms lose value over every subsequent unit of debt financing.Zero-leverage firms, in the presence of the interest tax shield, may stabilize their value.The present study finds that aligning a corporate financing policy with the fundamentals of Islamic finance helps restrain corporate indebtedness and promote profit and loss sharing.According to the proposed model, firms have a reduced cost of financing, tend to be more stable, and are valueoriented, especially when they avoid debt to the maximum extent.The results indicate that minimum debt financing in the presence of a dividend tax shield reduces firms’ costs of financial distress and their proneness to bankruptcy.Islamic finance can provide a corporate financing model for sustainable and equitable wealth creation.