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.

The Relationship Between Behavioural Biases and Financial Wellbeing: Exploring Channels and Conditions in Pakistan

This study is aimed to investigate the moderating role of financial literacy and mediating role of financial behaviors on the relationship between behavioral biases and financial wellbeing by collecting evidence from Pakistan. The study is carried out on the presumption that human beings are not rational agents and they make decisions based on heuristics and mental shortcuts. It was believed that such heuristics, which are referred to as behavioral biases, could have implications towards the financial wellbeing of the individuals. A gap in existing literature was felt regarding the interrelationships of behavioral biases, financial behaviors, financial literacy and financial wellbeing. This study has filled this gap by following an explanatory sequential design through which a quantitative analysis followed by a qualitative analysis is carried out. During the quantitative phase, data collected through an online survey questionnaire (n=344) was analyzed through descriptive statistics, correlation analysis, multicollinearity diagnostics and structural equation modelling (SEM) etc. Whereas, in qualitative phase, the findings of quantitative analysis were interpreted in the light of feedback of financial management experts, collected through in-depth interviews (n=16). From these results, it is found that framing effect have significant implications towards the financial wellbeing of the individuals. Moreover, higher income level increases financial wellbeing; having a big family decreases financial wellbeing. Moreover, the way the information is framed significantly affect the financial behaviors. It is less likely that individuals having exponential growth bias exercise negative investment behaviors. Mental budgeting results in healthy financial behaviors. However, the negative impact of mental budgeting cannot be ignored as the human beings have restricted ability to understand and absorb the information. The study also found that people behave differently towards investments, depending upon whether they do job or business. The level of education affects the investment behaviors. There exists a relationship between investment behaviors and financial wellbeing. People exercising positive investment behaviors could have better financial wellbeing and vice versa. Therefore, investment behaviors play a mediating role between framing effect, exponential growth bias and mental budgeting and financial wellbeing. Moreover, a moderating role of actual financial literacy between exponential growth bias and financial wellbeing is also found, however, it needs further investigation. Recommendations are made based on the findings of both quantitative and qualitative analysis; limitations of the study and future research directions are also discussed.