اسلامی ریاست میں داخلی استحکام کے لیے مرکز اور صوبوں کے تعلقات

There is a dire need of an experienced and authoritative mechanism in the polity of Islām in order to run the affairs of the state in a benefiting manner. This mechanism divides the state into different regions and provinces so as to carry out the affairs of the state in an organized way. These provinces must be founded on some administrative basis, not on racial, lingual or regional grounds. It is necessary that these units are autonomous as far as authority and power is concerned. It will help eradicate parochial differences and strengthen integrity of a country. It is essential to keep up and safeguard the freedom and the rights of these units. We can get our desired objectives, if legal and constitutional safeguards are meted out to these administrative units of the state. According to ‘Allāmah Ibn Khaldūn’s point of view, it is imperative to strengthen a state instead of expanding it. There must be small but integrated autonomous units of the state. Such division helps these units to progress and prosper. The golden principle of power distribution is in vogue in all eras, although its structure has been different and varied. In this article, we are going to view the structure of distribution in the perspective in an Islamic state

Investment Behavior of Generation Y: A study Based on Experience of Employees Working in Financial Institutions of Pakistan

Investment behaviour comes under the field of behavioural finance. It is a process of investors' decision making at micro level. The process based on some specific features of investment products and services. This study was subjective in nature and cleared the scope of quantitative research in this regard to understand the investment behavior of generation Y investors while they are investing in the stock markets. A purposive sampling technique was used to collect data from the 325 respondents representing generation Y working in financial institutions. A structured questionnaire technique was used for data collection so the analysis could reflect true results. Multiple regression analysis technique was used to test the study hypotheses. The findings of this study indicates that investment choices, level of risk and behavioural biasness have direct influence on the portfolio selection of the generation Y investors and they are not behaving according to traditional theories of finance. The results also demonstrate that the generation Y investors of financial institutions understand the stock selection criteria and perceived risk attitudes toward the investment decisions. Theoretically, this study provides a possible solution to understand the behaviour of generation Y investors. Practically, this study is helpful for financial institutions to suggest best financial securities according to the behaviour of generation Y investors. At the end, this study also contributing in the existing literature on the behaviour of generation Y investors.