This study is conducted to understand and document the long as well as short-run equilibrium among important macroeconomic indicators and Equity markets (including Islamic and conventional) in post Shari'ah-screening era in Pakistan. We have included seven macroeconomic variables—inflation,...

The main purpose of this study is to examine the mutual fund industry of Pakistan, to examine the assets allocation pattern of mutual funds, how efficiently they are allocated into various assets categories and how investors base their future investment decisions either on past performance or on...

A recent development in financial markets is the creation of Shari'ah compliant stock universes. Shari'ah compliant stock universe is featured as socially responsible investments, less levered, and more reflective of the real sector. This study is conducted to understand and document the...

Islamic Capital Markets-ICMs, featured as socially responsible investments, less levered, and more reflective of the real sector, is a recent development in financial markets, with impressive growth and offer the potential for portfolio diversification benefits. This study is conducted on the...

Islamic Financial Services Industry (IFSI) crosses the age of 40 years, and sufficient empirical evidence exists to evaluate in light of the distinctive aspirations. This study fills the gap in the literature by evaluating the performance of IFSI in light of Islamic finance...

According to efficient market hypothesis (EMH) the prices of stock should reflect all available information in the market and no investor is able to earn excess return on the basis of some secretly held private, public or historical information. Efficient market hypothesis (EMH) can be further...

Islamic Banking has shown tremendous growth in first decade of twenty first century. In order to avoid interest charging Islamic banks transect business through sale/purchase (Murabaha, Muajjal, Salam, Istisna'a), Leasing (Ijara) and profit and loss sharing (Musharaka, Mudaraba, PTC, TFC, Skuk)....

The purpose of this empirical study is to analyze and compare the performance of Islamic and conventional banking in Pakistan and to find out which of the banking stream is performing better than other. For this study, sample of 22 conventional banks and 5 Islamic banks were selected. For...

Islamic banking has shown tremendous growth in the first decade of 21st century. By the end of 2011, global volume of assets under Islamic finance has reached to US$ 1,289 billion. In Pakistan, Islamic banking has displayed a tremendous annual average growth of 76% during the last seven years...