This study investigates the existence of idiosyncratic momentum (IMOM) profit in Shari’ah compliant stocks. The sample data includes all the common shares listed on the US equity markets from 1986 to 2020. This study used the GRS, Fama-MacBeth (1973) and factor-spanning tests employing the prominent asset pricing factor models. The empirical finding supports the existence of IMOM profit in Shari’ah compliant stocks for the US equity market. Further, these findings show that idiosyncratic momentum (IMOM) is a separate factor that expands the efficient frontier. Additionally, Fama MacBeth regressions results indicate that on a stand-alone basis, when both characteristics (IMOM and [...]

The study aims to investigate the impact on customer loyalty towards the sustainability of Islamic banks resulting from a priori constructions in the setting of Pakistan and the UAE. Apart from direct impacts, the research also intends to verify the mediating influence of known variables on consumer loyalty toward Islamic banks. Theoretical models were employed from previous research and data was collected based on a structured questionnaire. This questionnaire was also adopted from previous research. A total of 500 respondents participated in the study from Pakistan and the UAE. All the respondents were the customers of Islamic Banks. With the [...]

The study examines the impact of foreign development assistance and foreign aid on gender equality in Pakistan. Despite the rising body of research on assistance and human development, there is a notable absence of studies examining the link between foreign aid and gender equality, particularly in Pakistan. The research problem addressed in this study is the lack of empirical evidence demonstrating how development aid and international assistance impact various aspects of gender equality in Pakistan. This study employed time series data from 1995 to 2022 to evaluate the impact of foreign assistance on gender equality. It considered the ARDL, a [...]

This study investigates the latest developments in promoting SMEs in Pakistan by the Government and other stakeholders. It also maps SME issues with Islamic finance solutions. The study is based on a literature review, categorizing policies and regulations from SMEDA and SBP, along with other research and reports. Despite advancements in SME policies, SMEs lack awareness and proper business education. Islamic banks are hesitant to fund SMEs due to documentation issues. Solutions include consultancy services, training programs, and awareness sessions in Islamic finance. This research assists SME operators and stakeholders understand government assistance and legislation for SMEs. It also advises [...]

This paper aims to investigate the impact of a market crash on the risk adjusted returns of Exchange Traded Funds. A comparative analysis of the impact of covid 19 on ESG Vs. Regular ETFs attempts to ascertain whether ESG factors can provide any hedging during a financial market crash. This study tried to establish whether responsible investments can provide any resilience during a market crisis by comparing the risk adjusted returns of pre and post covid returns of ESG ETFs and regular ETFs. This paper discussed that how the risk factors incorporated in the models (market risk, size risk, book [...]