Islamic Finance Essay Example | Topics and Well Written Essays - 2250 words

Islamic Finance - Essay Example The paper tells that despite the upheavals and mayhem that exists between the Islamic world and the United Kingdom, as peculiar as it may seem, it is wise to say that Islamic banking and finance has found its way in the United Kingdom. Islamic finance is the basis of Islamic banking system. Laying its foundation on the rules and principles of Sharia, commonly known as the Islamic law, this offers Islamic finance its very unique and competent features. As much as Islamic Banking has its challenge and opportunity, many western bankers have sort to involve themselves in this growing business. Their guiding principles and rules state that Allah owns everything in this world and that man has only been rendered permission to use it. In the United Kingdom, London has emerged itself to be the core ad centre of Islamic banking. In the United Kingdom, a decade ago, the business was perceived to be in its infancy this being the reason as to why its extent is limited. A decade later, Islamic ban king and finance has prevailed in the United Kingdom due to its unique characteristics. One of the most distinct characteristics that have made Islamic banking and finance business to grow is the fact that Islamic banking does not offer interests, which is commonly referred to as riba in the Islamic world. The reward for money deposited as perceived is done by not charging or paying interest. As a way of curbing the loss and profits occurred, Islamic banking use the technique of sharing both the profit and loss occurred. This is commonly known as mudarabhah, which in lay man’s term means profit sharing. In cases that involve mortgage buying, the bank itself buys the mortgage from the seller then giving it to the buyer making profits thus allowing the buyer to pay the money in installments. The mortgage is registered under the buyers name from the start to avoid any suspicions. This kind of arrangement is known as Murabah. The entrepreneur feature of the Islamic banking and f inance is another characteristic that has made this type of banking to stand out. Putting its focus not only on financial expansion but on also physical expansion of economic services and production, this has made many western bankers to use the Islamic banking and finance services. Trade financing and equity financing have led the way for the Islamic banks. No wonder the growing trend of people enjoying their banking services. The United Kingdom being one of the worlds’ most sophisticated and complicated banking and financial systems, this has helped the Islamic banking and finance to prevail. The main reason as to why Islamic banking and finance has prevailed more in London than in any other cities of the world is due to the fact that London is much closer to Middle East than any other cities. In fact, London is estimated to have hosted the world’s largest Islam’s in all the cities of the world (Anwar, 1995). In the center of London, the Arab community is rank ed among the most affluent Arabs in the world. To add on to that, Arabs restaurants and hotels exists in London center to cater for the Arabs that visit the city every now and then. There has been an increasing number of doctors, engineers, and students in the United Kingdom. London emerges to be the leading market in the world for foreign currency exchange, dollar being the popular currency trade. In the recent years, the retail level banking in the United Kingdom has gone down. This is due to the introduction of the Banking Act of 1987, which allowed external banking to exist. The big four banking players dominance namely Barclays, Lloyd, NatWest and the Midland bank, the latter being the only one that has managed to secure its market share. Evolving from a small niche bank in the Middle East in the last four decades, Islamic Banking and finance have grown in to a dynamic, profitable, and resilient competitor to all major banks in the United Kingdom. By the end of 2008, Islamic ba nks are estimated to be over $850 billion and

Unemployment Rate in Different States Term Paper

Unemployment Rate in Different States - Term Paper Example Unemployment Rate in Different States At first glance it is very easy to blame the 2008 economic downturn on the likes of people like Bernard Madoff and Federal Reserve Chairman Alan Greenspan. A lot of people even speak of the availability of â€Å"subprime† mortgages given to those who might not otherwise qualify for them. The housing bubble then burst, putting millions out of work in the domino theory. Another reason given is the United States fighting the Global War on Terror in two separate countries. Pouring money into two countries for what was deemed unwinnable conflicts struck many as a recipe for economic disaster. Whatever the reason, the entire planet began to suffer the effects of a â€Å"downturn† in 2008 that it has yet to recover from. Why and what the differences are between the different states are covered on the following pages. II. Worldwide Impact People cannot even agree what to call this crisis. The official name is a â€Å"downturn†, while there are many people, economists in cluded, who call it a recession. There are even those who hint of the word depression, even though politicians and economists alike vehemently deny the nation is in a depression. The memories of bread lines and political losses of 1929 are way too fresh in people’s minds for that term to probably ever be used again. Yet whatever one chooses to call it, this crisis seems to be unlike any felt since the end of World War II. As the table below shows, the economy of several selected countries has suffered greatly. Even those like China which did not go into the negative still endured losses of growth. GDP GROWTH 2008-09 SELECTED REGIONS (WTO) (PERCENTAGE) COUNTRY 2008 2009 USA 0.1 -2.8 EUROPEAN UNION 0.5 -4.0 CHINA 9.6 9.1 JAPAN -1.2 -6.3 DEVELOPED COUNTRIES AVG 0.2 -3.7 DEVELOPING COUNTRIES AVG 5.7 2.1 So it is evident a worldwide financial crisis cannot be blamed on any one man. Also since it has been well touted that in the rest of the world, mortgages are difficult if not imp ossible to obtain, the housing crisis is not the problem elsewhere. Also since many countries (such as China, Russia, and India) have historically always spent a large portion of their national budget on what Americans term defense, that should not pose a problem internationally either. But this paper is on unemployment in the United States and will therefore be the basis of the remainder of this paper. This introductory piece was just to show that this country has plenty of company in its misery and a Herculean effort will be required to make us feel safer monetarily. Yet it is also true that diversity plays a key in a region’s growth or failure. For instance, the WTO points out that most of the major powers in the European Union (like Germany and France) actually saw growth during the period listed in the table but statistically the entire Union endured losses, largely due to such countries as Ireland and Greece. The same can be said for the fifty states. While the United S tate’s unemployment rate rose five percentage points from 2007-10 (4.6 to 9.6 per cent), certain states underwent either far less rise in unemployment. For example, between 2008 and 2009, data from the Bureau of Labor Statistics shows some states such as New York, Michigan, and California shot to double digit figures. It is interesting to note that most of the jumps in unemployment were in the so-called industrialized states, while

Critically Evaluating Current Neo-liberal Education Policies Essay

Critically Evaluating Current Neo-liberal Education Policies - Essay Example 280). Attempts to improve the education system have been concerned with increasing the productivity of the education system. In a bid to change the education system new policies have been designed to raise standards following market ideologies. The schools become responsible for performance while the parents are given a variety of choices to select schools. Moreover, Bartlett and Burton (2006, p. 4) added that, the curriculum has been designed and dictated across the nation and attending school became compulsory. Those who choose to go for higher education have been required to pay tuition fee. The coalition government has reviewed the curriculum and qualifications in the education system since it assumed power in the year 2010. In order to enable learners to take the most appropriate route for the aspired profession, the coalition government introduced policies that facilitate them join a school to become an academy. An academy is an arrangement where students attend without paying and the school is managed by members of the local groups in the community. The coalition government reviewed funding for the vocational education. The motive was to increase the standards for qualification of the vocational education. Additionally, the school curriculum was reviewed to allow the instructors choose the method of delivery to the students. For the students in higher education, the coalition government ensured that there was mobility and sustainable funding. Qualifications pertaining diplomas and languages were reviewed. The language skills such as grammar, punctuation and spelling were incorporated in learning. The changes in funding arrangements... This essay stresses that attempts to improve the education system have been concerned with increasing the productivity of the education system. In a bid to change the education system new policies have been designed to raise standards following market ideologies. The schools become responsible for performance while the parents are given a variety of choices to select schools. Moreover, Bartlett and Burton (2006, p. 4) added that, the curriculum has been designed and dictated across the nation and attending school became compulsory. Those who choose to go for higher education have been required to pay tuition fee. This paper declares that the coalition government reviewed funding for the vocational education. The motive was to increase the standards for qualification of the vocational education. Additionally, the school curriculum was reviewed to allow the instructors choose the method of delivery to the students. For the students in higher education, the coalition government ensured that there was mobility and sustainable funding. Qualifications pertaining diplomas and languages were reviewed. The language skills such as grammar, punctuation and spelling were incorporated in learning. The changes in funding arrangements were to ensure that students continue with learning, develop and grow academically. After the government introduced a curriculum which requires all schools to teach certain skills and subjects, a nationwide assessment curriculum was formed.

Sentencing Essay Example | Topics and Well Written Essays - 250 words

Sentencing - Essay Example They lower down the judge shopping culture, by getting rid of illogical and disparate sentencing practices. The sentence for a crime should be in the hands of legislature so that they may determine the crime through sentencing guidelines making the common people more confident that the falcons (many of whom are involved in the illegal business of narcotics) will meet the harsher punishment as they deserve. The uncertain condition that the judges may narrate severe sentence or be lenient becomes out of question by the establishment of sentencing guidelines. At the same time, this approach has some shortcomings. The sentencing guidelines lead to the loss of good judgment to formulate a criminal sentence that is suitable to the individual because the guidelines inflict mathematical formulae that do not match with the human ideas. The judges instead of working mathematically go through the circumstances of the case and the individuals and then decide according to the human conditions. So , I think the judges should have more control over the sentences. The guidelines reflect political concerns while the judges are away from this.

We can but should we The purpose of this assignment is to investigate Article

We can but should we The purpose of this assignment is to investigate safeguards and apply ethical principles to the use health care technology - Article Example With such deliberations, it would be necessary to assess and articulate issues arising as a result of EHR introduction. The Chip is argued to contain no medical records, but it is the code in it that is revealed – and only in doctor’s office or hospital. The code is argued to be unlocked by healthcare providers in order to access that person’s medical information (Mollar, 2009). However, there is much to think about other than the safety of EHR. For example, with the announcement of intentions to introduce EHR, different companies have shown interest in venturing into the business of making the gadget. This is evidenced by the way these companies are making partnerships with various healthcare institutions. For example, â€Å"Emdat announced a partnership with IBJI, MediRew announced a new client with Bon Secours Charity Health System, and Philips announced the implementation of it enterprise-wide clinical informatics technology at Baptist Health South Florida (BHSF) among many others† (Miliard, 2012, Para 2, 3 and4). In this regard, it can be argued that the issue of EHR is endorsed by certain forces which among them include entrepreneurial urge. Proponents of EHR argue that EHR could help reduce errors in medical records (Mollar, 2009). To some extent, this can be argued to be true because no doubt that hand written records are subject to errors and omissions. It is also argued that, with written records, the likelihood of losing records is high. Cases of lost or missing files or files being misplaced have been reported in the past. Additionally, catastrophes like fire and floods have in the past destroyed physical records. In light with this, digital record is argued to store records for a long time (Mollar, 2009). It can also help keep health information that patients tends to forget with time. EHRs are also argued to

Funding Sources For Action Research Project On At-Risk Children For Essay

Funding Sources For Action Research Project On At-Risk Children For Literacy In First Grade - Essay Example The children develop effective reading and writing strategies so that they can continue to work independently, and meet grade-level expectations. (Center for Reading Recovery Website). FEDERAL FUNDS: Title 1, Part A: This program provides financial assistance through State Education Agencies (SEAs) to Local Education Agencies (LEAs) and schools with large numbers of poor children, to ensure that all children meet state academic achievement standards . Some federal grants are awarded to the LEAs directly by the United States Department of Education. Title 1, Part B: Reading First: This is a focussed nation-wide effort to enable all children to become successful early readers. Funds are dedicated for establishing high quality comprehensive reading instruction in kindergarten through grade 3. Building on a solid foundation of research, reading programs are developed to help the teachers, and to ensure accountability through ongoing valid and reliable screening, diagnostic and classroom- based assessment. State Education Agency awards sub- grants to Local Education Agencies on a competitive basis . In the Reading First initiative, participation is voluntary, no timeline is indicated and funding level Is FY02- $900 million. States participating in Reading First have to submit Annual Reports and show significant progress in the program.

Compare and contrast the two artworks Essay Example | Topics and Well Written Essays - 750 words

Compare and contrast the two artworks - Essay Example In both sculptures, artists have utilized the concept of contrast intended to give varied objects comprising main artworks real implications2,3. This is to ensure each artwork despite appearing different from the other; they have brought the required meaning. For instance, the most striking and common contrast evident in these two artworks is the aspect of color-light interaction. Light in these two artworks strikes them from a source placed up diagonally in relation to the objects’ position. Hence, illuminating varied and key areas of the artworks the way a real sun would suppose it was during daytime and in the open space far from the buildings or any other shelter. However, lightning in both artworks varies considerably whereby Cubi XIX’s illumination intensity is more than that of Henry Moore's figure. This is despite the source of illumination casting shadows beneath the two works. Probably, the reason why Cubi XIX’s illumination exceeds that of Henry Moore' s figure is due to its placement, which is outside as per the artist’s desire for the object to reflect any change of the natural light4. Similarly, the two objects have also utilized negative space with the intention of creating three-dimensional works5. Hence, this induces the aspect of depth evident when observing spaces and holes found in between varied objects overlapping each other without being in contact. However, in the Henry Moore's figure, its holes appear natural compared to those found in David Smith's artwork. Since, the latter due to its geometrical shapes suggest the holes comprising negative spaces are artificial, which is contrary to Henry Moore's figure6. Since, Henry Moore's artwork comprises of oval and irregular holes inside it, which is contrary to David Smith's object whose varied objects are geometric and seem to assume a certain array with the intention of attaining the required balance. Artists’ through these two artworks despite relaying div erse massages, their respective emphasizes varies considerably. This is evident in the mode of utilizing light whereby David Smith's object has increased illumination compared to that of Henry Moore. The latter artist’s emphasis encompasses depicting the entire object evident from its mild illumination, which is similar to a light produced by an artificial source, and striking an item under a shade or in a building. This is contrary to Cubi XIX, which focuses on depicting varied natural light’s alterations, which is the sun. Hence, prompting the artist to use beaten steel as the object’s sole material so that it may reflect the light as necessitated. This is evident from the varied parts of the entire objects that have high illumination intensity compared to both its rear parts and those of Henry Moore figure. Another outstanding divergence between the two objects encompasses the aspect of texture whereby Henry Moore’s artwork has an extremely smooth surf ace than that of David Smith's artwork7. Mainly, this emanates from the materials constituting the two respective works. David Smith's figure is not evenly smooth except in spaces or distortions made on the steel by the sculptor’s tool when shaping it to assume the required shape. However, Henry Moore in his work seems to have used a special tool in combination with hands to attain an appealing surface to feel. Since, the material comprising its artwork seems to be clay or any other similar matter