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درد نا آشنا کی یاد آئی

درد ناآشنا کی یاد آئی
آج اُس دل رُبا کی یاد آئی

جانے کیوں بے وفا وہ یاد آیا
جانے کیوں بے وفا کی یاد آئی

یاد آئے وہ پیار کے موسم
اُس کی اک اک ادا کی یاد آئی

حشر کی تلخیوں کو جب سوچا
اُن کے لطف و عطا کی یاد آئی

بتکدوں میں گزار دی ہم نے
عمر بھر نہ خدا کی یاد آئی

جب مرض لا دوا ہوا تائبؔ
چارہ گر کو دوا کی یاد آئی

طریقت اور شریعت

This paper deals with Shariah and Tariqat. The decrees of Shariah have two kinds. One is related to the body (which is visible) , while the other one is about the soul (in visible) . Shariah is a combination of visible and un visible decrees. Tariqat is not a separate entity, it is cm integral part of Shariah. The people who consider Tariqat as a separate entity-, as a matter offact they are misguided persons. Tariqat is nothing but a subservient to Shariah. For the purification ofsoul and to make one self abiding by the laws of Shariah, the Sufia have proposed some specific practices and activities for their followers. They asked their followers to strictly adhere to these practices. Not only for the followers hut also for the spiritual guides; it is incumbent on them to follow the rules ofShariah whether these are related to body or to the soul. Irrespective of the position of the spiritual guide, he should also abide by the laws ofShariah. His Sufipractices. supernatural events or miracles have no value and no acceptance to the Almighty - Allah. Tariqat must be under the rules of Shariah, other wise it will not be accep

Impact of Adopting Accounting & Auditing Organization for Islamic Financial Institutions Aaoifi Accounting Standards on Financial Reporting of Pakistani Islamic Banks

Islamic banking sector has witnessed enormous expansion in last few decades with wide range of contra products to conventional banking in compliance with Shariah regulations. Islamic banking while providing arrangements to abolish the Riba factor, it faces certain other challenges as well. A distinct system with distinct accounting standards should endorse financial reporting quality of Islamic banks. Islamic banking success relies on financial health, stakeholders’ trust as well as observance of Shariah doctrine. Rapid expansion of Islamic banking industry has necessitated development of accounting standards to meet Shariah requirements. The present study covered various dynamics of AAOIFI accounting standards by conducting a meticulous market survey through structured questionnaire by using convenience sampling procedure from banking professionals, external auditors, regulators and academia. Descriptive statistics techniques were used with factor analysis, chi square, t-test, and cross tabulations for acute analysis and extracting evocative results. The study identified importance of financial statements and need of Islamic accounting standards for Pakistani Islamic banks. The study identified potential problems by using different accounting standards for financial reporting. Awareness to AAOIFI accounting standards was also made part of the study along with respondents’ preference towards different accounting standards. The study highlighted the dire need for harmonization of accounting standards for Pakistani Islamic banks. Factors affecting adoption of AAOIFI accounting standards are part of the study with intention to provide grounds for elucidation and future research work. The study also encompassed the obstacles in adoption of AAOIFI accounting standards by Pakistani Islamic banks. The study revealed the prominence of AAOIFI accounting standards for standardization and reliability of financial reporting. The study classifies certain financial reporting characteristics that AAOIFI accounting standards can augment in terms of credibility, consistency, comparability and clarity. The study revealed the vital role of regulatory bodies in bringing harmony and comparability of financial statements among Islamic banks. The study suggested that reliance on these standards will edify the merits associated with its implementation to all stakeholders. The study offered implications for theory, policy and practice as well as directions for future research. Keywords: AAOIFI Accounting Standards, Comparability, Consistency, Credibility, Financial Reporting, Harmonization, Islamic Banks, Riba, Standardization
Asian Research Index Whatsapp Chanel
Asian Research Index Whatsapp Chanel

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