Despite a direct ban on charging interest, interest-based benchmarks are used as a pricing reference by a majority of Islamic banks, due in part to the absence of stable and widely- published alternatives. Benchmarking interest rate exposes Islamic banks to the problems of conventional banks, particularly the interest rate risk. Against this backdrop, the present study empirically examines the dynamic linkage between the interest rate volatility and the financing of Islamic banks. The empirical analysis is carried using evidence from the Islamic banking industry of Pakistan during the time period 2006–2020. The multivariate Johansen and Jusiles Co-integration test and Vector Error Correction Model (VECM) are used as the baseline econometric models. Moreover, the DCC-GARCH model is employed for robustness and ensuring the consistency of results. The results indicate that a significant long-term and short-term relationship exists between the interest rate volatility and the financing of Islamic banking industry providing significant evidence for co-movements and convergence. These findings suggest that paradoxical as it may seem, the financing of Islamic banks operating within a dual banking system is subject to interest rate risk, mainly due to benchmarking interest rate, which in-turn makes Islamic banks vulnerable to the rate of return risk and withdrawal risk. Moreover, corporate financing, in particular, is more vulnerable to interest rate risk.

The pandemic outbreak has dramatically changed every sector and walk of life. Specifically, the developing countries with scarce resources are facing unprecedented crises that further jeopardize efforts to achieve sustainable life. Considering the case of a developing country, Pakistan, this study empirically identifies the most important strategies to reduce the socio-economic and health challenges during COVID-19. Initially, the study identified 14 key strategies from the prior literature. Later, these strategies were determined with the help of the interpretive structural modeling (ISM) approach through expert suggestions. The ISM model represents seven levels of pandemic containment strategies based on their significance level. The strategies existing at the top level of ISM model are the least important, while the strategies at the bottom of hierarchy levels are highly significant. Therefore, the study results demonstrated that “strong leadership and control” and “awareness on social media” play significant roles in reducing pandemic challenges, while “promoting online purchase behavior” and “online education” are the least important strategies in tackling pandemic crisis. This study will benefit government authorities and policymakers, enabling them to focus more on significant measures in battling this ongoing crisis.

The implementation of information technology in enterprises develops customer relationship management, which has the role of improving customer satisfaction. By sharing certain information, it is also possible to maintain effective relationships with customers, but also to maximize profit. The use of social media platforms, in parallel with the implementation of information technology, strengthens the trust of customers, through the reviews of the end consumer. In this unique interview-based case study approach, we empirically describe a conceptual model. Production and distribution departments of operational flows, implement digital technology, becoming an artificial intelligence-optimized system. New intelligent manufacturing capabilities are transforming the relationship between the company and customers from one focused on product to one oriented towards creating value and services, even personalization of them.

According to its purpose, statute and powers well defined in the Constitution, the Romanian Army can defend only the interests of the Romanian nation which has defined, in time, its place and role in society. It is well known that the Military institution has represented a main component of the social and political life during our whole evolution of the Romanian State and the existence of the Romanian nation was always circumcised by its presence. The officer`s body and the hole army played a vital role in promoting the ideas of national interest, especially in the last one and a half century. To thisit is added the high value of the defense function and of the military institution, which played a special role in the risen credibility of the army throughout the civil society, considering all the threats that the Romanian nation and State had faced.

Romania’s security interests and objectives, the army missions in the current geopolitical context and Romania’s obligations as a member of NATO have imposed the continuation of the process of quantitative and qualitative restructuring of the human resources and determined the decision to renounce compulsory military service in favor of the one based on volunteering, starting with the first of January of 2007. The transition from the army based on compulsory military service to the one based on voluntary service imposed the repositioning of the military profession on the Romanian labor market, especially in relation to the competition represented by other similar institutions.