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]
Ḥajj―an annual Islamic congregation―is a supreme manifestation of Faith (Imān) in which muslims assemble to pronounce explicitly their subservience and loyalty to Almighty Allah alone. Besides freeing themselves from the squalor of Shirk, Muslims satiate their souls with the feelings of ‘Faith’ and ‘Unity.’ This fact is purely accomplished when the Muslims shed off their outer difference by donning the dress of unity (Iḥrām). Ḥajj is a perfect blend between ‘Creator’ and ‘creature’, ‘soul’ and ‘spirit’ on the one hand and an enduring and invaluable expression physically, socially, and materially on the other. From this pragmatic Institution, Pakistan―one of the premier countries of the Islamic world―can derive unprecedented benefits politically, socially, and economically. One of the important objectives of the paper is to describe the significance of Ḥajj to the people of Pakistan. In so doing, the paper examines and explores, objectively and analytically, the institution of Ḥajj and its implications on the Muslim world, particularly Pakistan. The first section of the paper, “Ḥajj―At a Glance”, presents meaning and historical background of Ḥajj. The second section “Revitalizing the Ḥajj”, besides presenting the revitalization of the Institution by the final Messenger (peace be upon him) also gives an overview of some of the very important rituals to be realized (during Ḥajj). The subsequent sections, “Socio-Economic Dimension of Ḥajj” and “Ḥajj―Implications and Impact on the Society of Pakistan”, describe respectively the socio-economic impact and leverage of the Ḥajj on the Muslim world in general and on Pakistan in particular. The study is followed by “Conclusion” wherein it has been argued that the Ḥajj can bring an immense transformation and positivity in a country if its sweetness is sought in all earnestness.
A better functioning financial sector matters directly for growth and contributes indirectly for poverty alleviation and welfare in Least Developed Countries (LDCs), through managing liquidity risk, acquisition of information, resource allocation, monitoring investment projects, saving mobilization, and facilitating exchange of goods and services. A vast variety of literature deals with the analysis of performance of financial institutions and their outcome for developing countries, especially in the context of South Asian and African region. However after the global financial crisis there emerged a need to re-examine the issues and outcomes resulting after financial liberalization process pursued by these economies. Studies conducted in this context suggested that there is a need to build a sound institutional framework which could prove to be productive for growth and welfare performance of LDCs. With this background, present analysis is a re-examination of relationship between financial liberalization (FL), financial intermediation (FD), and economic growth indicators, while taking the interference of governance (GOV) indicators into the analysis. This dissertation aims to ascertain whether financial liberalization has had any impact on financial deepening and economic growth. To carry out this empirical analysis, study utilized time series data set over the period 1995 to 2012 (based on the availability of data for specific countries), a sample of seven South Asian countries and applied Generalized Method of Moment (GMM) system analysis for estimation. To measure the financial liberalization, financial intermediation and governance, Chinn-Ito index, domestic credit to private sector and world governance indicators (WGI) are used respectively. The analysis found a positive and insignificant relation between financial deepening and financial liberalization, however, the impact of governance indicator on financial deepening has been found to be negative and robust. Moreover, as per the individual dimensions of governance are concerned, political stability and government effectiveness are important in determining the financial development among other dimensions The interaction of governance indicator and financial liberalization term yielded significant and negative impact. In the context of legal origin, findings supported that countries with mixed legal system are more financially developed and the interaction of legal origin and FL has found to be positive showing that FL castes positive impact on FD in the countries with mixed legal system. In addition, as per the results of control variables, openness of trade has positive and significant impact on financial development and it has been verified that simultaneous opening of trade and financial sector also have positive and significant impact. Inflation and government spending have expected negative and positive link respectively, and their signs are supported theoretically. Finally, in growth equation, it has been found that economic growth is important for determining the financial development.