During the times of financial crisis, losses tend to spread across financial institutions, threatening the overall stability of the financial system. The spreading of financial distress to various financial institutions gives birth to systemic risk. The intermediary role of the financial system is damaged, with adverse consequences for the supply of credit to the real economy. Therefore, the management of systemic risk becomes an important goal for the whole society. However, financial institutions do not contribute equally to the generation of systemic risk. Therefore, the main aim of this thesis is to assess separately how financial sectors and individual financial institutions inject systemic risk into the respective financial systems of Pakistan and BRICS during times of distress. During the last couple of decades, concentrations and control of global markets have been changed on a massive scale. Countries now are more focusing on regional and economic co-operations to achieve higher value-added production, to face regional challenges, and to cater to the monopolistic power of developed countries firms. BRICS is one of such economic cooperation. The establishment of China Pakistan Economic Corridor (CPEC) and increasing collaboration with Russia make Pakistan a potential candidate to enter this alliance. The more regional cooperation between these member countries calls for a major investigation about the spillover effect of systemically important financial sectors and institutions of BRICS and Pakistan. It is equally important to investigate the determinants of systemic risk in an economy. Delta Conditional Value at Risk (∆CoVaR) is one of the pioneer measures of assessing the systemic risk of financial institutions proposed by Brunnermeier (2016). It is based on another important financial risk measure named as Value at Risk (VaR). The panel regressions analysis is used to inspect the important determinants of the systemic risk within an economy. The results reveal that the banking sector is the highest contributor of systemic risk. The second high contributor to systemic risk is the insurance sector. The financial services sector contributes least in the generation of systemic risk of BRICS and Pakistan. Furthermore, the study also ranks top most systemically important financial institutions as well. The financial characteristics employed in the study include the size of the financial institution, the loan ratio, the leverage ratio, the tier1 ratio, and other financial characteristics. However, the findings reveal that the size of the financial institutions, the tier1 ratio, the market to book value ratio, and the operating profit margin ratio are significantly related to the systemic risk. Further, empirical analysis is carried out on 334 financial institutions of Pakistan and BRICS for the time period starting from January 2000 till December 2015. The data related to the closing prices and financial statements are taken from the Thomson Reuters Financial DataStream. The state variables data are obtained from World Development Indicators (WDI). The results have direct implications for the regulators and policymakers. Regulations that attempts to diminish the systemic risk in the financial system may take into account both systemic risk and individual risk faced by financial institutions and sectors. Furthermore, the regulatory framework might consider significant determinants while devising new strategies for financial institutions. This investigation may help to identify the most vulnerable financial institutions as well as financial characteristics helpful in reducing the systemic risk within an economy.
مولانا قاضی اطہر مبار کپوری گذشتہ مہینہ سفر میں جب مولانا قاضی اطہر مبار کپوری کے انتقال کی خبر ملی تو بڑا دھکا لگا، مجھے ان کی تجہیز و تکفین میں شرکت سے محرومی کا ہمیشہ بہت ملال رہے گا۔ اعظم گڑھ کے متعدد علماء کو بین الاقوامی شہرت نصیب ہوئی خود مبارکپور کے جو اعظم گڑھ کا مشہور قصبہ اور علم و تعلیم اور صنعت و حرفت کا بڑا مرکز ہے، مولانا عبدالرحمن مبارکپوری صاحب تحفۃ الاحوذی اور مولانا عبیداﷲ رحمانی شارح مشکوٰۃ المصابیح کا آوازہ شہرت عالم اسلام میں بلند ہے، انہی لوگوں کی صف میں مولانا قاضی اطہر مبارکپوری نے بھی اپنی جگہ بنالی تھی، مگر افسوس کہ دست اجل نے انہیں ہم سے چھین لیا، یہ بڑا علمی سانحہ ہے اور قاضی صاحب کا خلا پر ہونا آسان نہیں۔ ان کی ولادت ۱۹۱۶ء میں ہوئی، ان کے نانا مولانا احمد حسین رسولپوری عربی زبان و ادب کے ماہر اور صاحب تصانیف کثیرہ تھے، قاضی صاحب نے ان کا عربی دیوان مرتب کر کے شائع کیا تھا، انہوں نے عرصہ دراز تک ڈھاکہ میں مسند درس کو رونق بخشی۔ انہی سے قاضی صاحب نے عربی کی ابتدائی کتابیں پڑھیں تھیں پھر مبارکپور کے مشہور مدرسہ جامعہ احیاء العلوم میں درسیات کی تکمیل کی اور جامعہ قاسمیہ مراد آباد میں مولانا فخرالدین، مولانا سید محمد میاں اور مولانا سید اسماعیل سنبھلی سے صحاح ستہ کا درس لیا۔ طالب علمی کے زمانے میں ان کو شعر و سخن سے دلچسپی تھی، اور خود بھی سخن فرماتے تھے، یہ تحریک آزادی کے شباب کا زمانہ تھا، قاضی صاحب کو سیاست اور ہنگامہ آرا قومی جدوجہد سے کبھی سرو کار نہیں رہا، تاہم آزادی کا جادو ہر شخص پر چل گیا تھا، قاضی صاحب بھی اس سے متاثر ہوئے بغیر نہیں رہ سکے، مبارکپور میں ہر قسم کے...
Foreign policy is one of the wheels with which process of international politics operates. It is not separate from the national policy. It is an important tool to relate the relations to other countries. Foreign policies consist of aims and measures that are intended to guide government decisions and actions with regard to external affairs, particularly relations with foreign countries. Friendly, non-threatening and peace-loving attitude seems to be the hallmarks of most states. Yet on the other hand, there could be some countries that act as hostile and aggressive and there is hardly any world force that can constrain them. A basic and age-old problem of state systems arises from here: national security. Many states deploy armed forces to deal this particular problem. Usually, states coexist and deal with each other without breaking the internal hegemony. So the main issues of mankind are war and peace. A great emphasis has been put in Islam in the field of international relations. Islam developed a different structure and gave a distinct understanding of international relations. Islam offers a complete handbook on international relations through his teachings. Peace works as root in the relation of countries. Securing the world peace and settling disputes and anarchy are the core aims of Islamic teaching.
Action research is a qualitative study through which, one can improve the existing practice. Classroom teachers are actually action researchers, who can improve their teaching and the students' learning through critically reflecting on their practices. My interest evolved as a result of my dissatisfaction of the existing practice of the assessment system in my school, which, motivated me to work on this issue. Teachers consider teaching and assessment as two different aspects. Assessment is done at the end of the term or yearly basis which teachers judge the students learning. The problem is that teachers can't do justice to the students through summative assessments. In contrast, formative assessments help the teachers to assess students' progress on an on-going basis. It also helps teachers to improve their practices. We can try our best to use new and modern techniques and strategies in our classroom, but we cannot be effective teachers until and unless we assess the students' learning on an on-going basis. . This research study was done in my own school keeping in mind the possibilities and challenges of using portfolio as a tool for on-going development of the students' writing skills. The process approach was used to teach the students writing where both the mechanics and structure of the story were focused. Assessment of writing is integral to effective teaching and learning. Portfolio is a manageable, effective, and a fair way of assessing individual student's on-going development of writing skills. It helps the teachers to diagnose the students' needs and interests. In this way the teachers become more aware of them as individuals. That's why we say that it helps teachers to improve their teaching. Certainly when you know the students problems you will probably think about some ways to help them to re-solve those problems. Students need encouragement and qualitative feedback. This is the basic purpose of portfolio assessment so that students bring improvement in their work. Teachers feel it as a burden only because they are not aware of the advantages and the effective uses of portfolio assessment. Once they realize its effectiveness and its contribution in their teaching as well as the students' learning they would not feel it as a burden or extra work.