مولانا بشیر احمد خاں
افسوس ہے پچھلے دنوں دارالعلوم دیوبند کے نہایت لائق وفائق اورمشہور استاذ مولانا بشیر احمدخاں صاحب کااچانک انتقال ہوگیا۔ مولانا ریاضیات اور ہیئت میں برِصغیر ہندوپاک کے علماء میں اپنا جواب نہیں رکھتے تھے۔ اس کے علاوہ فقہ اورحدیث میں بھی اُن کی نظر وسیع تھی، چنانچہ دارالعلوم دیوبند میں ان فنون کی اونچی کتابیں اُن کے زیر ِ درس رہتی تھیں اور کبھی کسی طالب علم نے اپنی بے اطمینانی کااظہار نہیں کیا۔ علوم وفنون میں اس درجہ مہارت اور اُن میں شغف کے ساتھ مولانا میں نظم و نسق اور دنیوی معاملات و مسائل کو سمجھنے اور ان کے حل کرنے کی صلاحیت بھی بدرجہ ٔ اتم تھی۔ اسی بناء پر چندماہ ہوئے اُن کا انتخاب نائب مہتمم کے عہدہ کے لیے ہواتھا۔ عمر اگر چہ ستّر( ۷۰) کے لگ بھگ تھی، لیکن قویٰ مضبوط اور عام تندرستی بہت اچھی تھی۔ ۱ ۲؍ اگست کومجلسِ عاملہ کی میٹنگ میں وہ شروع سے آخرتک شریک رہے اوراُس کاکبھی وہم بھی نہیں ہوسکتا تھاکہ دو دن کے بعد ہی مولانا یک بیک راہی عالم ِبقا ہوجائیں گے۔یوں بھی عابد مرتاض اور خندہ جبین وخوش اخلاق تھے۔ اﷲ تعالیٰ مغفرت وبخشش کی نوازشوں سے نوازے اور اُن کے درجات اونچے کرے آمین۔ [اکتوبر۱۹۶۶ء]
This article is an attempt to elaborate the phenomenon of equilibrium prevailing everywhere in the microcosmic and macrocosmic systems associated with universal stability and rhythm. It has been accentuated what is beautifully illuminated in the beginning verses of Sūrah Al-Rahmān successively regarding balance that invites one’s thought towards the well controlled cosmic system as well as with the concept of balance by means of different manners as identified by exegetes and scholars concerning daily life i.e. From simple and common to that of complex issues and intricacies. Qualitative method has been employed for this research while some aspects have also been handled in accordance with quantitative approach. Article also emphasized the series of cause and effect nexus may be declared as self explanatory episode an indication towards a Supreme Force whose widespread control and interference can’t be denied rationally. Sūrah beautifully pictured the physical and metaphysical sketch of balance having many dimensions from man to universe and vice versa as well as from both towards Ultimate Reality whose dominion is limitless where one has to follow peaceful living and to put oneself aside indulging any disruption from ordinary clash to that of nuclear war to be waged.
The stock market in Pakistan is highly volatile and sensitive for unexpected shocks. In this market, the role and
importance of individual investors and their trading behavior is also very critical. But there is always an
environment of uncertainty and lack of information. Furthermore, the investment policies are formulated
keeping in view the interests of institutional investors only. So, it becomes impossible for the individual
investors to take decisions depending upon their own personal resources and complex statistical data.
Therefore, the individual investors resort to other non-statistical gadgets and try to make rational decisions
relying on non-statistical gadgets that are related to their behavior and psychology.
In this study, the researcher has investigated the importance of these non-numeric factors for individual
investors' investment decision making. The purpose of this study is to examine these determinants of
individual investor's behavior as well as the influence of these determinants on the individual investor's
decision. This is a quantitative research based on analytical and descriptive lines. Regression Analysis is used
to determine the relative importance of each behavioral factor.
This study bears great significance in recognizing the importance of heuristic and behavioral tools for
investment decision making. This research is a contribution in the research paradigm from the view point of
the policy makers also. It will play a significant role at the time of formulation of policies for institutional
investors and regulatory bodies such as Securities and Exchange Commission of Pakistan and at the same time
retaining the interests of individual investors.