Imran Haider Naqvi

Online Examination System and Assessment of Subjective Expression

Learning of student can be assessed by objective type and subjective type questions. Educationists and behavioral scientists declare subjective writing skills essential for senior management positions. Investigation revealed that IT professionals who qualified through objective type online examination and lack subjective writing skills could not earn rise in career to top management positions easily. The study considered ability of a student to express knowledge subjectively as the independent variable and higher management position requirements as the dependent variable. It hypothesized better the student of higher level education in his/her subjective expression, more considerable s/he will be for positions at senior management in business organizations.The study selected 100 private companies engaged in the field of Information Technology (IT) in Rawalpindi and Islamabad, Pakistan who seek OCP or MCSD or MCSE certified professionals. The study employed simple interviewing approach for collecting data from the HR departments of the selected companies about how many OCPs, MCSDs and MCSEs have been promoted to higher management positions and how their subjective expression skills were considered for promoting them to senior positions. It found that promotions were too few among the IT professional lacking subjective writing skills. The study reocmmended to ensure subjective expression writing skills during assessment.

Quality of Training Material for Student Learning in Online Education System

Online education is considered not equivalent to conventional education as student learning may not be on same quality. Literature guided that student’s learning depends on various factors including quality of the training material provided in online education system. In Pakistan, certain universities are offering online education degree programs. The selected quality of training material as independent variable to learn its impact on student’s learning in online education system. Therefore this correlation study in a cross-sectional manner selected a sample of 300 students of the final semesters from the two different universities in Pakistan offering online distant education for post graduate degree programs like MBA and MCS or MS (IT). The study utilized a pretested questionnaire derived from the literature using 5 points interval scale to collect data for the selected variables. Using SPSS version 15.0, the study applied Pearson correlation test to verfiy the correlation between the selected variables. For testing the hyportheses the study applied linear regression. As result the study found its variables significantly correlated and further the regression of the quality of training material on student’s learning was remained significant. The study recommended ways to improve the quality of the training material in online education system programs

Islamic banking in Pakistan: Fiqa-e-Jaferia offers optimization

Islamic banking is an initiative of State Bank of Pakistan (SBP) and Shariah scholars for purifying the financial and economic system of Pakistan from interest (Riba). The framework of Islamic banking guides banks to customize their policies and product mix in conformance with Shariah standards. Despite targeting a noble cause of eliminating interest (Riba) from the economy of Pakistan, the existing practices of Islamic banks and certain aspects of the framework of Islamic banking face logical objections. Due to inappropriate operational measures, Islamic banks are yet criticized for not having embraced Islam completely. Islamic banks are found adopting Islam in parts and chunks. Islamic banks are epitomized by certain sect instead of Islam and further, they are not imbued to alleviate poverty from mass root level being mere commercial enterprises. Fiqa-e-Jaferia explains Islam based on the Holy Quran and teachings of Prophet Muhammad (SAAW) explained by Imams in his Ahl-e-Bait (AS). By now, the Islamic banking framework and Islamic banks are not benefited by the input and support of Fiqa-e-Jaferia. The study discovered that the aforementioned objections on Islamic banking can be rectified through incorporating guidance of Fiqa-e-Jaferia. In January 2008, this study joined an Islamic bank that was functioning as per Fiqa-e-Hanafi to observe and experience the norms and practices in Islamic banks. It investigated and interpreted the root cause of short comings in Islamic banking rendering it objectionable. Since January 2008 to date, the study compared the two major fiqas that are Fiqa-e-Jaferia and Fiqa-e-Hanafi with the intention of contributing a consensus on Islamic banking for strengthening this noble cause. In the light of Fiqa-e-Jaferia, the study has identified Kibor Halal for SBP and number of opportunities for SBP, Islamic banks and stakeholders for optimizing the framework and practices of Islamic banking. The study recommends a solution to resolve all objections on Islamic banks and Islamizing the entire banking industry within three steps. It recommends engaging SBP, banks and their clients in a double tier master slave relationship such as Slave 1 (bank) – Master (SBP) – Slave 2 (client) to get the entire banking functions Halal with a little modification in the mechanism of banking. It invites divergent Muslim scholars and SBP to reach a consensus considering Islamic banking as a national cause instead of keeping it as a mere commercial movement. It offers opportunities for further research, development and unity among divergent sects to strengthen both Islamic banking and Pakistan. The ultimate milestone is recommended to be an Islamic financial system seeking interest free economy, implementing real spirit of Islamic financial culture shielded from capitalistic and satanic intentions and norms.

Precautions in Team Leader's Selection: Impact on Business Success

Every business organization targets success in terms of minimum cost, maximum profit, and rich reputation etc. For achieving success in all these dimensions various factors are involved and one of them is selection and formation of team of right persons especially for senior management positions. Investigation revealed that many IT software houses collapsed in Pakistan due to inappropriate selection of the human resources at senior cadres of the management. The study considered personality type assessment of the candidate for senior management position as independent variable and effective strategic planning for business as dependent variable. Using random sampling the study selected a sample of 104 IT/Telecom organizations. The study used a self administered questionnaire for data collection. For analysis of data the study employed descriptive statistics, Pearson’s correlations and Partial Least Square (PLS) Regression using SPSS and Smart PLS software respectively. The results indicated that 50% of the IT organizations collapsed for inappropriate selection of senior managers. The study contributed a structured approach for making selection of the right person effective especially for leader’s selection.

Islamic Formula of Future Value of Asset

Increasing price of an asset being sold on credit is a common practice of Islamic Financial Institutions (IFIs) and certain retailers using formulas of compound interest ( Riba ) and speculation ( Maysir ). As Islam prohibits both these both concepts, relevant literature was qualitatively probed to find Shariah compliant mechanism for setting future value of an asset being sold on credit negating Riba and Maysir . The study thus extracted a formula from authentic Shariah sources and presented it quantitatively as an alternate to abandon the conventional formulas of interest and speculation. It further contributed recommendations for credit sellers and buyers in the light of Shariah principles and possible future research.

Analyses of the GNP Formula : The Islamic Perspective

The knowledge of modern economics has evolved over centuries with its roots dependent on usury. The modern literature witnesses the hazards of usury that world economies are facing. As Islam is a complete code of life with guidance for mankind in all spheres of life, this study integrated the directives of Islam with the basic knowledge of Gross National Product (GNP) that is a fundamental economical percept. The study utilized the primary and secondary sources of Islamic knowledge and also of Christianity. The study found that the existing formula of GNP is an amalgamation of both legal and illegal determinants as per Islam. It contributed the both the alternate Islamic formula for GNP tested in the ancient Islamic regimes and an optimized version of the existing formula of GNP purified from usury and forbidden concept as per Islam.

Notice of Retraction Consumer behavior during high inflation and new branding in Pakistan

Domestic and international investors are interested in introducing their brands in Pakistan, the question is whether period of high inflation is suitable for introducing new brand in Pakistan. This study learned the consumer behavior during extremely high inflation period in Pakistan. The study conducted in Karachi, financial hub of the country. As population of Pakistan consisted of mainly three income classes, that are upper, middle and lower, the study selected randomly 100 consumers from each class of consumers. The descriptive statistics discovered that inflation caused a compromising change in behavior of consumers from the lower class, the study found a considerable change in terms of the buying capacity as well as selection of the brand among consumers from lower income class. The study further found little change in both these dimensions among the consumers from the middle class. However, the study did not find any large change in the behavior of the consumers from the upper class. It concludes that income level is the real determinant of consumer behavior while inflation is merely a catalyst. Based on such findings, the study contributed that period of high inflation in Pakistan is suitable for promoting new local brands providing economy in the markets where majority of the consumers come from middle and lower classes of income.

Empirical study on the causal relationship between Islamic and conventional deposit rate

In theory Islamic banking is different from that of conventional banking; Islamic banking has a unique feature that is the profit and loss sharing (PLS) model. But in practice we have found bit resemblance between Islamic and conventional banking. In this study it has been tried to find the causal relationship between Islamic and conventional banking. For this purpose 3months, 6months, 1 year, 2years, 3years and 5years Islamic banking investment rates and conventional banking deposit rates have been collected. The unit root test that include ADF test for the stationarity of the data adopted first. Then co-integration determined between two variables (Islamic investment and conventional deposit rates), and the results were positive. And the direction of relationship found by Granger causality test. There was Granger Causality between different Islamic investment and conventional deposit rates. And it founds that the growth of Islamic banking in Pakistan is not due to Islamic banking PLS mode adoption, but that is mostly due to religious bases.