Abstract
The objective of this study is to assess the impact of Islamic financing modes on employment through asset formation and value creation of Islamic Banking in Punjab, Pakistan. Data was collected from two randomly selected Islamic Banks in Pakistan namely Meezan Bank and Al-Baraka Bank (Pakistan) Ltd. Multistage sampling procedure was used for selection of sample respondents from three regions of Punjab. List frame of the study consisted of respondents/firms utilizing finance from selected Islamic Banks located in each district. The sample of the study comprised of 206 small and medium firms who utilized Islamic modes of financing to get financing for their business. Variables of the model comprised of employment generation, asset formation, technology, firm age and business size. Least square regression model was used for analysis of the cross sectional data. All the independent variables of the model have significant effect on dependent variable. Empirical results revealed that only asset formation has direct relationship with employment generation. Technology, firm age and business size have inverse relationship with employment generation capacity of the borrowing firms utilizing Islamic finance. The study concluded that in Pakistan, the SME’s used financing tool to enhance the assets by adopting the technological change. The results of the study will support policy makers, practitioners and planners to make more informed business decisions.
Highlights
The opportunity for distinguishing and providing a unique identity for products is very scant, to the extent that some individuals are inclined to believe that the costs of distinguishingContent from this work is copyrighted by Journal of Islamic Business and Management, which permits restricted commercial use, distribution and reproduction in any medium under a written permission
The current study examines awareness of the concept h. alal and Islamic brand among Iranian customers who have an experience of traveling to the foreign country
We will examine to see in which condition a brand should be regarded as h. alal by consumers and customers, and in which groups of products and services h. alal brands have been defined. This is an applied research; while from data collection method point of view, it is a descriptive study of survey type. It is examining the relationship between awareness about h. alal, marketing concept, religious beliefs and categorizing Islamic brand with an understanding of Iranian customers
Summary
Content from this work is copyrighted by Journal of Islamic Business and Management, which permits restricted commercial use, distribution and reproduction in any medium under a written permission. Journal of Islamic Business and Management Vol 9 Issue 2 outweigh its advantages. Alal is an essential part of Islamic cultural networking, h. Alal certification can provide us the possibility of searching for a new marketing paradigm (Rajagopal, Ramanan, Visvanathan, & Satapathy, 2011). H. alal means permissible and in Islamic culture it denotes to something that Islam considers to be lawful and legitimate for its followers; the word h. Aram is its antonym, meaning unlawful and not conforming to the Sharı‘ah principles. All Muslims are obliged to use only those products that are permissible and conforming to Islamic laws and principles (Rajagopal et al., 2011)
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