Tag Archives: Bangladesh

Pakistan Must Have It’s Own Pakistan Premier League (PPL)

 

Cricket mania is something which truly holds the people of the sub-continent together. Be it India, Pakistan, Bangladesh or Sri Lanka, the game enjoys a tremendous audience. The ongoing IPL cricket fever in India is a good way to gauge what will happen if something on similar lines is launched in Pakistan.

afridi 1 Pakistan Must Have Its Own Pakistan Premier League (PPL)

In fact, former captain Rameez Raja has suggested earlier this year that the Pakistan Cricket Board should launch a Pakistan Premier League (PPL) similar to the cash rich Indian Premier League in a bid to reinstate international cricket in the country.

He felt that the time is ripe to launch PPL as it would not only elevate cricketing standards in the country but will also sweep in the much needed money for the cash-strapped cricketers of the country.

The Captain also felt that though the glitz and glamour of IPL cannot be matched, still, it would serve as a platform and role model on a smaller scale for the proposed PPL provided that players can be brought in from Bangladesh, Sri Lanka or even Zimbabwe or Kenya to come and play in the league.

ipl Pakistan Must Have Its Own Pakistan Premier League (PPL)

Another former captain, Aamer Sohail also backed the idea of PPL and demanded the board to initiate the idea at the earliest. Both the cricketers feel that if the idea becomes a reality, it would bring a sense of professionalism amongst the cricketers – a key factor that is missing due to low payment for domestic cricketers.

A major benefit that would be gained is that the PPL would help nurture new cricketing talent in Pakistan. There is a dire need for fresh talent considering the lack of discipline, poorly run administration, and inter-rivalry that is so often noted amongst the senior and experienced players. These factors are leading to badly undermining the game of Pakistani cricket – a fact that is pretty obvious considering the team's disastrous performance in Australia recently where it suffered a complete whitewash in both the three-match Test and five-game ODI series.

shoaib akhtar Pakistan Must Have Its Own Pakistan Premier League (PPL)

With pressure mounting on the government to take radical steps to stem the string of problems in the cricket set-up, well placed sources confirmed that Pakistan cricket was in for an upheaval soon. One hopes that if Pakistan cricket is to move forward one of the best measures would be the setting up of PPL. After all, the IPL is predicted to bring the BCCI income of approximately US$1.6 billion, over a period of five to ten years – and these are only estimates.

Shahid Afridi in T 20

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Islamic Microfinance – The Only Solution of Global Financial Crises

Islamic microfinance has the potential to expand access to finance to unprecedented levels throughout the Muslim world. It has the potential to merge the Islamic social principle of kindness for the less fortunate by providing financial access to the poor. Islamic microfinance is now facilitating millions of poor Muslims who rejected microfinance products that do not comply with Islamic law.

Islamic finance is the process through which the financial institutions including banks raise their capital in agreement to the Islamic rules and regulations that are commonly known as “Shari’ah”. Islamic financial system strongly restricts giving or receiving any fixed, predetermined rate of return on financial transactions. This ban on interest is derived from two fundamental Sharia precepts i.e. money has no intrinsic worth and fund providers must share the business risks. 


Importance and Demand of Islamic Microfinance

Islamic finance is a centuries-old practice, now it has captivated the interest of millions across the globe and is gradually moving towards conventional financial system. Islamic microfinance found to be a very effective tool for reducing credit crisis globally.  During last few years, conventional microfinance products have been very successful in Muslim majority countries.

A Few years ago, a Banladeshi banker and economist Dr. Muhammad Younus set a great example of Islamic microfinance, who originated the first microfinance program in Banladesh. He introduces the micro credit system for poor people and to strengthen this system he has established Grameen Bank in 2006. Later his microfinance program being recognized globally and was awarded the Nobel Prize for his immense contribution in poverty alleviation of Bangladesh.

There are millions of Muslim clients globally demanding Islamic financial products, but due to lake of conventional microfinance products majority of Muslim people can’t get these products. Due to rapid increase in the demand of conventional microfinance products, it becomes essential for Muslim countries to promote Islamic microfinance at large scale. 


Islamic Microfinancing the Perfect Solution for Muslim Countries

Islamic micro financing can give millions of entrepreneurial poor access to microfinance as an option they might not consider if traditional, interest-based commercial loans were offered. There is a potential compatibility between the needs of micro entrepreneurs and the practice of Islamic financing. Muslim countries should recognize that with more experimentation and practice in the field of Islamic micro financing they could contribute more knowledge and a better understanding of effective loan delivery mechanisms.

RELATED LINKS:

Intro to Islamic Microfinance

Meezan Bank

Modern Vs Islamic Banking

First ever U.S Islamic Banking Subsidiary

Islamic Banking and Finance-Sharjah Islamic Bank

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