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مولوی محمدبہادر خاں(نواب بہادر یارجنگ)

مولوی محمد بہادر خاں
(سابق نواب بہادر یارجنگ)
افسوس کہ گذشتہ مہینہ کی ۲۴؍ تاریخ کو مولوی محمد بہادر خاں (سابق نواب بہادر یار جنگ) نے حرکت قلب بند ہوجانے سے دفعتہ انتقال کیا، ان کی ناگہانی وفات نہ صرف حیدرآباد بلکہ ہندوستان کے تمام مسلمانوں کے لیے اندوہناک سانحہ ہے، مرحوم حیدرآباد کے ایک قدیم و ممتاز جاگیردار خانوادہ کے رکن، مخلص، دردمند اور علمی مسلمان، زبان آور خطیب، ریاست کے سچے وفادار، مسلمانوں کے غمگسار اور عام اہل ملک کے ہمدرد وبہی خواہ تھے، حیدرآباد کی ہر مفید اسلامی تحریک میں ان کا دست اعانت شامل رہتا تھا، وہ مجلس اتحاد المسلمین کے روحِ رواں اور آل انڈیا ریاستی مسلم لیگ کے بانی اور صدر تھے، ابھی کل ۴۱ سال کی عمر تھی جو قومی زندگی کے اعتبار سے بالکل نوجوانی کی عمر ہے، اس عمر میں مرحوم نے حیدرآباد کے مسلمانوں کی جو گوناگوں خدمات انجام دیں وہ کبھی فراموش نہ ہوں گی، اور اہل دکن کو مدتوں ان کا بدل نہ مل سکے گا، ملک و قوم کی خدمت کی خاطر انہوں نے اپنا خطاب اور جاگیرتک واپس کردی تھی، ان کی ذات سے بڑی توقعات تھیں،لیکن افسوس ان کی جوانمرگی سے اہل دکن کو ان کی صلاحیتوں اور خدمات سے فائدہ اٹھانے کا زیادہ موقع نہ مل سکا، اﷲ تعالیٰ اس مخلص خادم قوم کو اپنی رحمت و مغفرت کے انعام سے سرفراز فرمائے۔ (شاہ معین الدین ندوی، جولائی ۱۹۴۴ء)
اگست ۱۹۴۴ء
ایک بہادر مسلمان کی موت
چار پانچ ہفتے ہوئے میں ایک گاؤں میں تھا کہ دفعتہ ایک صاحب نے ایک انگریزی اخبار کے حوالہ سے نواب بہادر یار جنگ کی اچانک موت کی اطلاع دی، موت ہر وقت آتی ہے، اور ہر وقت آسکتی ہے، تاہم جن کے مرنے کو دل نہیں چاہتا، ان کے مرنے کی خبر کا یقین...

IMPROVING THE QUALITY OF MEMORIZATION OF AL-QURAN THROUGH THE IMPLEMENTATION OF TAKRIR METHOD IN ISLAMIC BOARDING SCHOOL MATHOLIB AS-SULUK CIREBON

Many assume that people who have grown up do not have the opportunity to memorize the Qur'an because of the difficulties that will be faced in the process of memorizing it rather than in childhood. This research aims to find out (1) the application of the takrir method in Ponpes Matholib As-Suluk. (2) factors that affect students' ability to memorize by takrir method, (3) the quality of memorization of the holy verse of the Qur'an using the takrir method. This study uses descriptive qualitative methods. Through the technique of interviewing, observation and documentation studies, several findings were obtained: (1) the application of the takrir method in Ponpes Matholib As-Suluk was applied through the repetition of santri memorization in four ways: individual takrir, collective takrir with friends, takrir with teachers, and takrir at prayer time; (2) there are 2 factors that affect the application of takrir methods: internal (santri mood) and external factors (pesantren environmental support); and (3) the application of this method succeeded in improving the quality of santri memorization because the students were able to improve their memorization quite quickly and they were also able to reread verses and surahs that had been memorized quite smoothly.

Determinants of Firms’ Acquisition Ability and its Impact on Cost Efficiency, Operational Hedging and Returns of Acquirer Firms in Pakistan

The capital markets witness phenomenal shifts of corporate control. With the shift of world economy into a global one, there has been a rapid increase in the volume of acquisitions. The previous studies shed light on the motives behinds acquisition and its impact on both bidding and target firm. Less effort has been placed to check the ability of a firm dealing in market of corporate control. This study is bridging in the gap in literature by exploring the factors affecting the acquisition ability of the firm. The study has analysed the role of financial strength, corporate governance related variables and regulatory influence on acquisition ability of acquiring firm. Later on, impact of such acquisition ability has been tested on various firm characteristics like cost efficiency, returns and operational hedging of acquirer firms. Data has been analysed with respect to Pakistan stock Exchange for a period of 2004 to 2012. Empirical analysis indicates that firm specific variables are important determinants in firm’s decision to acquire. Chief Executive Officer duality and institutional shareholders presence on the board contributes to this important phenomenon in the life of the acquiring firms. Bidding firm’s financial strength is also another important considerations. The empirical results indicate the better acquisition ability for firms characterized by minimum capacity utilization, lower level of intangible assets, lower debt levels and lower advertising expenses. Acquisition announcement is an important event in the capital markets. The event study technique indicates the significant abnormal returns after 3 days of acquisition announcement. Cost efficiency has been analysed for bidding firms three years prior to the acquisition and three years post acquisition. Overall results suggest an improvement in the efficiency of financial firms after acquisition. Non-financial sector is indicating opposite results where most of the firms are showing declining trend in efficiency. The percentage change in operational volatility is accounted for as operational hedging. The empirical results show a large level decrease in the operational income volatility after the takeover deal. It shows that combined firm after acquisition bring the benefit of diversification thus reducing volatility and increasing operational hedging which may ultimately reduce financial hedging. So acquiring firms should analyse their strength before going for acquisition deal as acquisition impact their short term and long term performance. Key Words: Corporate Control, Acquisitions, Event Study, Data Envelopment analysis, Operational Hedging, Cost Efficiency, Abnormal Returns
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