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This study aims to investigate the impact of authentic leaders on the performance of educational leaders in public and private universities in Pakistan. The study further examines the moderating role of social capital in this relationship.

The authors collected data from 259 academic heads of public and private universities and tested hypotheses using macro PROCESS.

The findings demonstrate that authentic leaders have a significant positive effect on team leader performance in both public and private universities. In addition, the authors establish that the positive impact of authentic leaders on team leader performance is stronger among employees with high social capital.

The education literature lacks evidence of the process through which authentic leaders influence team leader performance. The study is unprecedented in assessing whether social capital moderates the direct influence of authentic leaders on team leader performance.

This paper aims to examine whether the Sharīʿah indices outperform the conventional indices as evident from Dhaka Stock Exchange (DSE). To achieve the objective, the study, first, assesses the risk adjusted returns of the Sharīʿah and conventional indices and compares the same between the two indices. Second, it examines the short-run and long-run associations between the two indices.

The DSEX Sharīʿah index and DSE broad index of the DSE are used as representatives of the Sharīʿah and conventional indices, respectively. The study uses monthly data for the period 2014–2018 and applies a number of techniques such as risk adjusted returns, Johansen’s cointegration test, vector error correction model, Granger causality test, forecast error variance decomposition and impulse response functions techniques.

The study reveals that albeit there is no significant difference in simple mean between the two indices, the Sharīʿah index outperforms its conventional counterpart based on the risk adjusted returns. The two indices are associated only in the long-run, while no causal relationship is spotted between them. The overall results show that the Sharīʿah index has dominance over the conventional index in Bangladesh.

The study could use more pairs of indices, including additional variables such as financial crisis and macroeconomic variables.

The study has important implications to investors, especially the religious Muslims and ethical ones, who are suggested to invest their funds in the Sharīʿah index without sacrificing returns, rather be monetarily more benefited. Moreover, the other investors can generate diversification benefits by adding both Sharīʿah and conventional indices in their portfolios in the short-run.

Unlike previous studies, this study endeavors to use a comprehensive methodology to conduct its analysis. Moreover, this is supposedly the first ever effort to conduct such a study in the context of Bangladesh.

Based on the principles of the social capital theory (SCT), this study aimed to generate hypotheses and evaluate a mediated moderated model that examined the impact of social capital on online brand community happiness (OBCH).

Using 215 online questionnaires from users of private online brand communities (OBCs) , researchers examined the hypothesized connections between variables. The SPSS 21.0 and AMOS 26.0 were applied to fulfill the purpose.

For the goodness of model fit, the authors have applied cut off criteria for fit indexes given by Hu and Bentler (1999) and model-fit measures indicators, i.e. CMIN/DF 1.397, CFI 0.958, SRMR 0.045, RMSEA 0.043 and PCLOSE 0.866, which meet the minimum acceptable criteria. Based on the results, social capital significantly affects psychological well-being (PWB), which, consequently, leads toward increased happiness among OBCs. Furthermore, membership duration moderates the relationship between PWB and OBCs.

The authors have utilized a cross-sectional research design, and it limits the researcher’s ability to generalize the findings. These findings imply how social capital leverages PWB and OBCH. Moreover, the presence of membership duration helps to understand that members who spend more time in the community are happier in the OBCs.

In this age of social media, it provides valuable guidance to the administrators of private Facebook groups dedicated to specific brands, enhancing the definition and development of OBC operations and community interactions.

This research takes a broader look at social capital’s impact on happiness among private OBCs. The current research contributes to the existing body of work by emphasizing the role of PWB in generating happiness. The study is novel in examining the mediating moderating model of PWB and membership duration to explore deep insights for social media platforms.

The present study aims to examine the current digital information literacy (DIL) skills of female online shoppers in Lahore city of Pakistan. Data were gathered from a purposive sampling of women, aged between 20–50 years who were buying products online, not from the traditional retail stores. Out of 309 received questionnaires, 269 responses were useable and were utilized for data analysis. Descriptive and inferential statistics were used to deduce inferences.

Quantitative research approach was employed for this study, and a survey was conducted to collect the data from the study's respondents. For data analysis, descriptive and inferential statistics were used.

Results revealed that the digital information literacy skills of women were good to a moderate level. However, they were not confident in applying advanced searching options. In accordance with what was hypothesized in a directional hypothesis, DIL was found to be a strong predictor of online shopping behavior of women, consequently highlighting the importance of such competencies in modern life. Other findings illustrate that participating women rarely engaged in online shopping and felt hesitation in using credit/debit card for online transactions.

These observations highlight the important role of information professionals in creating digital literacy among different population groups, specifically women, by planning digital information instruction through courses, workshops and trainings. This could eventually be possible with the dynamic role of librarians or information professionals in the society.

The present study adopts the unique approach of measuring online shopping behavior of female shoppers in connection with their digital information literacy skills.

This paper aims to explain the dynamics of the inner inter-variable functional relations of trade versus oppositely coterminous variables of interest rates as shadow rates of interest. Such an explanation of trade versus riba relations has not been covered in the literature on Islamic economics and finance. Furthermore, the consequences of understanding the trade vs riba rule in relation to the bank-saving function remains absent in the literature. This problem as an important one between trade-interest rate and bank-savings interrelationship is studied. An empirical explanation is given besides the analytical explanation. This paper therefore presents an original and substantive topic to study.

The avoidance of usury and financial interest have equivalent injunction in the Qur’an by the riba rule. To attain and implement the riba-avoidance rule, it is necessary to understand this rule in terms of its adverse relationship; and contrarily by the positively complementary interrelationship between trade, money, finance and the real economy under the impact of the riba rule. In explaining such inter-causal relationships, certain analytical matters stand out as key points. These are studied in the light of the Islamic methodological basis of the ontological law of participatory oneness as monotheistic unity of knowledge and its impact on the understanding of the trade versus riba and bank-savings rule.

First, bank-savings cause withdrawal of resource mobilization and thus rupture the positive complementarities between the purpose and objective of the Shari’ah (maqasid-as-shari’ah) variables. Second, to deeply understand the rule of establishing trade versus the practice of riba (financial interest) and the needed theory of complementary inter-variable relationships to enable the relationship of trade versus riba, it is fundamentally necessary to understand the Qur’anic epistemological premise of Tawhidi unity of knowledge as organic unity and its induction in the generality and details of the problems under study.

Such an explanation of trade versus riba relations with the instrument of bank-savings has not been covered in the literature on Islamic economics and finance. It is therefore an original and substantive issue to study.

This study aims to examine the scholars’ views on the legality of bilateral rebate in Islamic financial transactions. It also aims to evaluate the contemporary application of bilateral rebate in Islamic banking operation as an alternative to the conventional mechanism in handling the events of early settlement of debt, early termination of debt facility and early withdrawal of term deposit.

The study used deductive and inductive methods to analyze the juristic literature of all the major schools of law on the legality of both bilateral and unilateral rebate in a financial transaction.

The study found bilateral rebate (ibra’ mutabadal), instead of unilateral rebate, to be the best and fairest Islamic mechanism to overcome injustice in several events that may impact the bank’s liquidity such as that of early settlement of debt facility and early withdrawal of term deposit in the sense that the interest (maslahah) of both transacting parties is equally secured.

This study has its limitation, as it only covers the applicability of bilateral rebate in Islamic banking operation. It does not include the applicability of bilateral rebate in other segments of Islamic finance such as Islamic capital markets and Islamic insurance (Takaful business).

This paper has practical implication for Islamic banking industry particularly with regard to its liquidity management in the event of early settlement of a debt facility, early termination of an Islamic facility and early withdrawal of Islamic term deposit. It may also assume policy implication in the event that the regulator adopts the legality of bilateral rebate in its Islamic banking policy and guidelines.

This paper offers an Islamic alternative to the conventional mechanism in handling the event of early settlement of a debt facility, early termination of an Islamic facility and early withdrawal of Islamic term deposit. Under conventional banking, there are certain fees and charges imposed on customers in the above events like early settlement charge and early withdrawal charge. Unlike its conventional counterpart, Islamic banks cannot opt for the conventional method that seems unjust to the customers as the charge is imposed without Sharīʿah basis. In this case, bilateral rebate serves as a fair mechanism to manage the bank’s liquidity in the aforementioned events.

This paper aims to investigate the effect of Islamic microfinance on poor households through the case of the IKSAR Qard al-Hasan Program in Turkey. To achieve this aim, it examined the changes in the socio-economic status of beneficiaries before and after the program.

This paper adopts the convergent parallel mixed method design. It conducted two surveys to micro-entrepreneurs: the first is when they received the loan and the second is when they finished their installments. In addition to the longitudinal data obtained from these two surveys, qualitative data were collected by participant observation and interview technique with visiting these people periodically throughout the interest-free loan (qard al-hasan).

According to the results obtained from the analysis of the pre- and post-surveys, a statistically significant increase of 35% was experienced in the monthly household income after receiving the qard al-hasan loan compared to before. Similarly, a statistically significant increase was found in the monthly expenditures of 23 out of 30 households after receiving the qard al-hasan.

There are two originalities of this study. To the best of the authors’ knowledge, it is the first research that examines the only Islamic microfinance program in Turkey. Second, it uses longitudinal data while examining the impact of Islamic microfinance on the welfare of the poor. In the relevant literature, no study has been identified that uses longitudinal data in Islamic microfinance. Similarly, a limited number of longitudinal studies examine the impact of conventional microfinance institutions on the poor.

This paper aims to develop an integrated waqf-based Islamic microfinance (IsMF) for poverty reduction in Bangladesh. Microfinance institutions (MFIs) have been constrained by the high cost of funds, high interest rate charges and poor human resource quality of the recipients. Islamic MFIs have recently evolved with the hope of overcoming these financial, ethical and human capital deficiencies faced by the conventional financial institutions. Moreover, a good number of integrated models have been proposed to enhance the role played by Islamic MFIs. Most of these models, however, lack empirical justifications.

The research uses survey techniques. A total of 381 respondents were included in the survey. The integrated waqf-based Islamic microfinance model (IWIMM) was earlier on developed using literature and intellectual discussions. There are six constructs presenting the IWIMM, namely, waqf resources, IsMF, takaful, project financing, human resource development and poverty alleviation. In the survey instrument, 45 items represent the six constructs, but only 26 items have been retained after factor analysis. Structural equation modelling has been adopted to examine the relationship among the constructs.

The results show that there are significant relationships between IsMF and takaful, waqf resources and human resource development, takaful and human resource development, IsMF and human resource development and, waqf resources and project financing. The results also indicate that poverty alleviation is possible through the integration of these constructs.

Though the paper has studied conventional and Islamic MFIs in Bangladesh, one of the populated Organisation of Islamic Cooperation (OIC) member countries and also where poverty incidence is high, further studies need to be conducted in other OIC member countries to adopt the model in line with practical and regulatory environment of those countries. Similarly, the study is based on the perception of the respondents, which limits the generalization of the result.

The paper proposed a model that has the potential of being applied for poverty alleviation programmes in most of the OIC member states.

The present paper has developed an IWIMM for poverty reduction.

In the presence of informal sector in the country, designing an energy policy and the pursuit of higher economic growth become challenging for emerging economies. These economies are usually resource starved, and the presence of underground economy leads to faulty estimates of energy demand. The authors explore the energy–growth nexus in the presence of underground economy for Pakistan, an emerging economy host to large informal sector and facing recurring energy crises.

The authors evaluate the impact of underground economy on energy demand in the presence of explanatory variables, including official gross domestic product (GDP), foreign direct investment and financial development. The authors first assess the influence of official economy on the consumption of energy. The authors investigate how energy consumption is influenced solely by underground economy. Finally, the authors evaluate the impact of true GDP on the energy consumption. The authors employ combined cointegration method of Bayer and Hanck (2013) and then apply vector error correction model.

The results reveal that official GDP, underground economy and true GDP positively and significantly affect energy consumption in both short and long run. Similarly, financial development as well as foreign direct investment enhance energy consumption. The authors find unidirectional causality between energy consumption and official GDP variables (OGDP → EC), underground economy (UE → EC) and true GDP variables (TGDP → EC) in the long run. The authors observe bidirectional causality in the short run between energy consumption and official GDP (OGDP ↔ EC) and true GDP (TGDP ↔ EC).

To the best of the authors' knowledge, no study examines the causal relationship of energy consumption and underground economy. Overall, the findings assist policymakers to consider and implement different energy-related policies considering the significant role of underground economy for energy consumption in Pakistan.