Pakistan is a country that stands as an example of determination and a story of heroism where people fought for what they considered to be right! We have come a long way since 1947 when after decades of struggle and hardships we were able to achieve a piece of land called Pakistan — a country that is not only a miracle that it exists today. Pakistan has faced so many wars starting from Kashmir in 1948, 1965, and 1971 and limited war in 1999. The country has also fought a war for its Muslim brothers when USSR invaded Afghanistan and…
Author: Alifiya Aun Ali
The origin of the modern Islamic banking system can be traced back to the very birth of Islam when the Holy Prophet Muhammad (Peace Be Upon Him) himself acted as an agent for his wife’s trading operations. Islamic partnerships known as (Mudarabah) dominated the business world for centuries and the concept of interest found very little application in day-to-day transactions in the period. Such partnerships performed an important economic function. During the business, they combined the three most important factors of production, namely: capital, labour and entrepreneurship, while the elimination of ‘Riba’ or interest in all its forms is an…
There has been a sudden upsurge in the start-up culture in Pakistan in recent years, many new ideas have been born to the millennial entrepreneurs and they have been targeted to solve issues and problems that are happening or are part of our modern society. For instance: Patari, is a revolution in the music world brings in quality songs from all across and has become the local hub for music lovers, Seghalmotors is one of the futuristic start-ups of Pakistan as one of the largest online vehicle accessories platforms in the country. Another innovative one is the Battery Lala; this…
Energy demand is increasing year after year, for this reason, oil and gas companies due to the increasing depletion of resources and high rate of consumption because of fast-growing and ever-increasing population are increasing the number of exploratory surveys to find new reservoirs at sea. For many years, offshore natural gas and oil production were restricted to shallow waters. However as many older deposits have become exhausted, companies and countries have increasingly moved into deeper waters, into areas where fishery based activities have traditionally played a dominant role in the local and global social economy. Oil and Gas play a…
The development of tourism is directly proportional to the level of infrastructure in a country as both go as hands in glove for the promotion of tourism and ensuring that our country becomes one of the top tourist destinations it is important to develop facilities such as transportation facilities, healthcare facilities, water management facilities, waste management facilities, recreational facilities etc. Accessibility to the above facilities is the key element in creating the impression among tourists. The satisfaction of the tour program is measured by these facilities. The development of a place for tourism also helps in boosting the economy of…
Insurance is the second-largest sector in the financial industry and constitutes 5.3 percent of Pakistan’s total financial sector assets. According to SBP Financial Stability Review 2017, the Insurance sector’s asset base and gross premiums have registered an increase of 12 percent during 2017. The assets of the non-life insurance sector have increased by 4.8 percent to PKR 179.6 billion in 2017. Overall the sector has a positive float, which allows money to be used for further investing activities, which has been increasing over recent years boding well for the industry. It has one of the lowest penetration percentages in the…
Environmental protection and sustainable development have become key factors for various stakeholders such as customers, suppliers and the public. It has become increasingly important to give importance to such issues and challenges and to demonstrate a commitment to the environment. Implementing an environmental management system can help you meet this challenge in several important ways. Effective implementation of these management systems would to firstly protection of environment plus if the organizations acquire it, they would be able to play their role in protecting the environment from further damage. They help reduce an organization’s impact on the environment while improving operating…
July 2016 a military officer of the Turkish army coveted to impose Marshall Law by planning a coup to remove Recep Tayyip Erdogan, President of Turkey; nevertheless, it was unsuccessful. This event marked a turning point in the foreign policy of Turkey as it started changing discourse in its external foreign policy vis-a-vis the US, by the Justice and Development Party lead and controlled by Tayyip Erdogan. The in-action of the US led Turkey to tilt towards Moscow, Iran and China for the support in the international community. Some of the major reasons for the Turkish tilt have been that…
Environmental protection and sustainable development have become key factors for various stakeholders such as customers, suppliers and the public. It has become increasingly important to give importance to such issues and challenges and to demonstrate a commitment to the environment. Implementing an environmental management system can help you meet this challenge in several important ways. Effective implementation of these management systems would to firstly protection of environment plus if the organizations acquire it, they would be able to play their role in protecting the environment from further damage. They help reduce an organization’s impact on the environment while improving operating…
Independence isn’t just a personal virtue, it’s a moral virtue. Abstractly independence refers to breaking chains. What we mean ‘independence’ of a ‘country’ we understand a distinct group of people living in a specific region, who are similar in terms of race, ethnicity, culture or any other significant factor binding them together, setting itself free from the governance of another entity which is fundamentally different from them. Independence for a country is same as getting independence for an individual; the importance of being independent can be understood by an example Independent as people naturally tend to be a little more…
Recent Findex stats find that ownership of financial accounts in Pakistan – including those with commercial banks, microfinance institutions, and mobile money accounts – has risen to 21% of the adult population, compared to 10% in 2011. Albeit slow, the rise in account uptake is a cause for hope for Pakistan and has largely been enabled by leveraging technology to build advanced and inclusive financial solutions. The resolve of the government, regulatory authorities, and financial services institutions has also played an instrumental role in banking millions of unbanked Pakistanis, improving their access to swift and hassle-free financial solutions, and digitizing…
Pakistan is a country of diversities; so many things are happening at the same time, it’s a dynamic country with multiple socio-economic issues at the helm of the country affecting the overall fabric of the society. Pakistan has been a receipt to change for the past few years, the country that has witnessed a topsy-turvy political system and has been host to longest periods of Martial Law starting from General Ayub Khan till General Pervez Musharraf lasting for eight long years. These jumbled musical chair political scenarios created instability not only in the political arena but also caused major chaos…
Financial Technology (Fintech) is an exponentially growing space in Pakistan, aiming to replace the traditional financial services, even if not to replace it, it’s there to create convenience and facilitate people to the utmost making it the primary approach for their transaction. The Government of Tehreek-e-Insaf has just completing their hundred days in government and have identified many ways they would be using Fintech to implement their policies and plans, one such example is to replicate the health insurance, which they implemented in Khyber Pakhtunkhwa, a health card having coverage up to Rs600,000 creating a mean for every individual to…
It’s 2018; women have made strides in politics, business, technology and culture. But even those friends we considered forward-thinking questioned her decision to travel by herself. We take a lot of time adjusting to the idea about being a women and travelling alone, we are always in a dilemma that how messy, so much hassle and problematic it’s going to be because of the pre-determined mindset of the society. According to a poll more and more women are travelling unaccompanied compared to ten years ago. When, my friend started telling people she was going to Singapore for a week, everybody’s…
Technology is a major part of our lives today; since we wake-up in the morning to the time we go to sleep at night we are surrounded by technology and use it several times throughout the day for multiple purposes. Technology has slowly and gradually penetrated in our lives without many of us realizing its impact at some point it has made on our lives. It has made our easier and has opened new avenues and channels for development. The world is moving digital, quite a lot of services and stores, business, industries that were available only offline are now…