The Concept of Medical Treatment and Guidelines for Physicians in Islamic Perspective

In fact, good health is the ultimate end of medicine for everyone through medical treatment. Islam does approve necessary measures to sustain good health. Thus its sustenance senses the subjects to avoid undue pains and sufferings. For this purpose medications and medical treatment is measured as a recognized tool in Islamic law. Therefore, this research paper reveals that numerous Muslim scientists worked on different branches of science,  and hence the Muslim physicians execute one of the most complicated “eye surgery” almost six hundred (600) years earlier than the European physicians. Indeed, it is the Muslim scientists who discovered the ‘force of gravity’, ‘blood circulation’, ‘laws of motion’. Factually, they developed the ‘theory of evolution’, ‘differential and integral mathematics’ and many more in the field of science. Consequently, the words of Campbell in this regard are very important to note that: “the European medical system is Arabian not only in origin but also in its structure”, which signify that “Muslim scientists are directly responsible for the European renaissance”. Resultantly, this paper argues that ‘medical treatment is an obligation if one’s life is in danger’ since preservation and protection of life is one of the primary objectives of Shariah. Although, in extraordinary circumstances, seeking medical treatment is highly encouraged in Islam, and an ill person is supposed to pursue medical treatment because Allah almighty has made both the illness and the cure.

Measurement of the Performance of Islamic Financial Institutions: An Evaluation and Analysis

Performance of banking sector is critical for the functioning of the financial system of a country as it ultimately casts impacts on economic stability and growth. Islamic banking has become substantial component of financial structure of many Muslim and non‐Muslim countries. Islamic banking in Pakistan has won remarkable market share in just a few years. While failure of conventional banks in western world has caused economic crisis in those economies, Islamic banks have proved to be robust due to their profit and loss sharing mechanism. This study is an attempt to analyze performance of Islamic banks in comparison of their conventional counterparts. This study does not apply a single performance evaluation method. It rather addresses several dimensions of performance using multiple methods like Ratio Analysis, DEA, Malmquist Index and Regression. Performance of Islamic and conventional banks is compared using parametric and non‐parametric statistical tests of significance. This study conceptualizes performance as combination of efficiency and effectiveness. Total Factor Productivity change is further decomposed into subcomponents. Tobit regression is applied to estimate determinants of change in efficiency, effectiveness and performance. This study analyzes 2004 to 2009 financial data of all the Islamic and conventional banks working in Pakistan. However, to find out determinants of profitability this study analyzes the quarterly data of Meezan Bank, which is the pioneer full‐fledged Islamic bank of Pakistan. Islamic banks outperformed conventional banks in terms of financial ratios of capital adequacy, asset quality, liquidity, asset turn over and risk. However, performance of conventional banks has been higher in terms of DEA scores of efficiency and effectiveness. Although both the types experienced decline in TFP Malmquist index, yet no significant difference in performance pointed out. Bank specific factors cause variation in efficiency whereas market specific and macroeconomic indicators affect effectiveness significantly. Liabilities, capital, overhead expenses and earning assets have positive impact on profitability. Deposits, service income and financing are inversely related with profitability of Islamic banks.