No abstract

The aim of this paper is to identify what are the impediments in implementing an effective Zakah distribution in Kedah, Malaysia. Auspiciously, post-colonial Malaysia is experiencing robustness in terms of Zakah collections, as the statistics are currently signifying, but at the same breath the degree of effectiveness in Zakah distribution has not been providentially catching that optimistic evolution. And even if, the Zakah is duly distributed, the point to note is that the effectivity of that distribution has indubitably remained in question. So this gap is an issue that has been observed by the givers, and if the collection is to increase further, the issue of effectivity in Zakah distribution needs to show a healthier trend to convince these worried payers. The implications of resolving the issues discussed below may assist to enhance this sector, if timely addressed and taken applicable measures for remediation.

Since overseas workers' remittances are the most important source of foreign exchange earnings in Pakistan, their contribution to economic growth has not been rigorously analysed. In this study, we attempt to investigate whether a country's absorption capacity affects remittances' response to economic growth or not. The absorption capacity is confined to the development of local financial sector that comprises three different components of financial development. The index of financial sector development is constructed through principal components analysis. To test our hypothesis, we used the autoregressive distributed lag-bound testing approach of cointegration, which is based on time-series data over the period from 1972 to 2011. Our empirical findings validate the hypothesis that the local financial sector development enhances the contribution of overseas workers' remittances to economic growth in Pakistan.

Purpose - The study examines through analysing the literature, that the zakat recipients (asnaf) can be better entertained by a sustained mechanism than one-off measures. The main aim towards asnaf upliftment should be based on a self-reliance goal-oriented-action strategy plan to alleviate them from any further deprivation. The aim of Maqasid in addressing these issues is to ensure that an asking basket gets smaller day by day through an effective regime. Design/Methodology/Approach - The paper analyses and synthesises the relevant literature on Maqasid and sustainable paradigm, then proposes a conceptual convergence to understand the paradigmatic similarities between the two in appreciating the welfare of zakat recipients. Findings - The paper attempts to examine the latitude of sustainability and Maqasid necessities in relation to asnaf welfare. The sustainability development’s main concern that the future generation benefits from the present development, which is quite similar to Hifzul Nasl or protection of progeny in Maqasid fulfilment. It can be stated that the three jurisdictions of sustainable development (SD) paradigm i.e., namely, the social, economic and environmental concerns are in actual fact, more in conformity with the Maqasid requirements. But many authors stated that indeed Maqasid is more wholesome and more encompassing than the traditional SD paradigm. Islam categorically highlights that human being as a caretaker of environment, need to ensure a better, and harmonious society, that should be erected with constructive and productive economic activities and not resorting to any damages to the nature. These concerns clearly conforms with Maqasid when it conditions that the protection of life or health, or intellect or progeny or wealth needs to be with true understanding about the self as well as the kindness of the creator, which truly encompasses faith, and that to achieve any higher dimension, may require that these basic necessities are fulfilled and ascertained at the foremost. Originality/value - This study scrutinises a comprehensive understanding about sustainability and Maqaisd needs in addressing the asnaf development and welfare. The study further elucidates that even the nature is in constant salutation towards thanking the Lord for all the bounties.

This study is an attempt to explore the impact of public debt on economic growth of Pakistan. To explore the relationship the study used augmented Solow growth Model. To test the model, Bound test for Cointegration is applied on time series data that cover the period from 1972 to 2013. The empirical results of the study suggest that public debt and economic growth has positive but statistically insignificant relationship. In addition, our control variables i.e., population growth enter in the model with expected negative sign while human capital and private investment bear their expected positive signs and are also statistically significant. This indicates that human capital and private investment play a vital role in the growth and development of an economy.