Authoritative Position of Investor and Scope of Liability in Modarabah Contract: Classical and Contemporary Jurists Perspective

The position of investor is always questioned once capital is handed over to a working partner (Mudarib). The concerns of investor along with series of liabilities cannot be ignored because Modarabah losses are always transferred or born by him/her. The study highlights the authoritative position of Investor and suggests that investor has full access to impose conditions on Mudarib to safeguard his interest as per shariah rulings. The study debates investor’s position to impose geographical restrictions to restrict the scope of trade, trade policy of working partner (Mudarib) and fixation of time.  Besides, the study discourses the concept of limited liability in context of Islamic law where creditors hold right to personal wealth of the debtors.

Impact of Training on Commitment, Retention and Performance

The purpose of the study is how employee training effectively induces organizational commitment, retention and performance enhancement and also the relationship between training and development, organization commitment, retention and performance. The research objectives are envisaged in the study: the influence of training on the organizational commitment towards the employee performance, on the employee retention towards the employee performance and lastly but predominantly the influence of training on the organizational commitment and employee retention towards the employee performance. The study was carried out in two parts i.e. Pilot study and main study. The pilot study was conducted to evaluate the properties of the instruments provided a considerably good evidence for their appropriateness in the local context. The main study was carried on convenience basis selected sample of 400 (317 males & 83 females) employees belonging to service sector at Rawalpindi – Islamabad. The data was collected from 400 employees belongs to the service sector at Rawalpindi and Islamabad city through self administered questionnaire. Regression analysis, correlation analysis and analysis of variance are employed to analyze the data through SPSS. The analysis revealed that the worth of training on commitment, performance and retention. The regression analysis confirmed our expectations (hypothesis) that perception of training regarding adequacy, satisfaction and a mode for career advancement has direct and significant effect on organizational commitment, work performance and retention. The estimation revealed that training has a positive and significant influence on commitment, compensation, work life policies, career development, task and contextual performance. However, it showed insignificant relationship with intent to leave the organization. The present study recommends and extends the previous work on training commitment, retention and performance. As it examines and highlights the significant relationship between them, it proves that these four aspects complement and harmonize each other. It advocates a theoretical model which incorporates and integrates the above mentioned aspects of the study. It examines the favorable affect of training on commitment, retention and performance to have synergetic effect on the organization in the long –run in achieving the organizational productivity outcomes. Keywords: Employee training, organizational commitment, retention, performance, service sector, effectively.