Monday, May 25, 2020

An Introductory Overview Contemporary Essay Online For Free - Free Essay Example

Sample details Pages: 3 Words: 935 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? The basic principles underlying Islamic financial transactions are that the purpose of financing should not involve an activity prohibited by Sharia (Islamic law) and that the financing must not involve riba (the giving or receiving of interest) and should avoid gharar (uncertainty, risk, and speculation). For example, because gambling is against Sharia, any arrangement to finance a casino would always be against Sharia. Islamic finance promotes the sharing of risk and reward between contracting parties. The degree of sharing varies by contract. An example of financing that involves a relatively high degree of risk-and-reward sharing is venture capital; a contract that has a relatively low degree of risk-and-reward sharing is sale of an asset on installment credit. Contemporary Islamic finance integrates these principles and the other Islamic law in a wide variety of products and services to fulfill the growing global demand for Sharia-compliant investment a nd financing. The unfold of Islamic financial principles is supported by the fact that Islam allows the wealth accumulation as long as the source of wealth generation does not violate Islamic principles. Emergence of Contemporary Islamic Finance According to Iqbal and Molyneux (2005), partnerships and profit-sharing ventures coherent with the doctrine of Islam were usually used to finance useful activities even prior to the teachings of the Prophet Muhammad. Throughout time, however, as the center of economic magnitude shifted to the Western world, the profit sharing approach to structuring financial transactions fell out of favor and Western financial institutions came to dominate the capital markets. Islamic financial institutions gradually succumbed to the ways of the West and adopted interest based financial transactions (Iqbal and Molyneux 2005). This literature asserts that the basic principles of what is now known as Islamic finance were not followed in what Westerners call medieval times. This monograph presumes that Islamic financial principles have an ancient origin. The establishment of the Mit Ghamr Islamic Bank in Egypt in 1963 is often viewed as the starting point of the modern Islamic banking movement. Evidence exists, however, that interest-free commercial financial transactions existed in various parts of the Muslim world several decades earlier. For instance, the institution Anjuman Mowodul Ikhwan of Hyderabad, India, made interest-free loans to Muslims as early as the 1890s. Another institution in Hyderabad, the Anjuman Imdad-e-Bahmi Qardh Bila Sud, was established in 1923 by employees of the Department of Land Development and, within 20 years, had assets worth US$2,240 and was distributing loans of US$100 to US$135 per month. The bank had a membership of 1,000, which included Muslims and non-Muslims. By 1944, it had reserves of US$67,000. These organizations made small loans to small businesses on a profit-sharing basis. Their acti vities continue to this day. In the early 1960s, the convergence of political and socioeconomic factors ignited interest in the revival of faith-based Islamic financial practices, including the prohibition of usury, or the giving or receiving of interest (riba). Although usury is commonly used today to mean an excessive rate of interest, it applies in this context to any charging of interest for the use of money. Iqbal and Tsubota (2006) asserted that, although the prohibition of riba is the core of the Islamic financial system, the systems prevailing practices also reflect other principles and doctrines of Islam, such as the admonition to share profits, the promotion of entrepreneurship, the discouragement of speculative behavior, the preservation of property rights, transparency, and the sanctity of contractual obligations. The Islamic financial system can be fully appreciated only in the context of Islams teachings on the work ethic, wealth distribution, social and economic justice, and the expected responsibilities of the individual, society, the state, and all stakeholders (p. 6). Objectives of Sharia in Islamic Finance The objectives of Sharia and the objectives of Islamic financial institutions may differ. The principal objective of Sharia as explained in literature on Islamic finance is economic justice through equitable distribution of resources. The objective of Islamic financial institutions is the pursuit of profits without violating Sharia. The shareholders of and investors in Islamic financial institutions. Among the most important policies or goals pursued by the Islamic financial system are the following: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Sharia-compliant financial products and services. To be Sharia compliant, the financial products and services must not be based on the payment or receipt of interest. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Stability in money value. Stability in the value of money is believed to be enhanced by req uiring that currency be backed by an underlying asset, which enables the medium of exchange to be a reliable unit of account. Islam views money as a store of wealth and as a means of exchange but does not view money as a commodity that should be bought and sold at a profit (Ismail 2005). ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Economic development. The mechanism of sharing profits leads to a close working relationship between bank and entrepreneur and is believed to encourage economic development as a result of the banks equity-type stake in the financed project (versus an interest-only or fixed profit potential). ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Social development. Zakat (a religious charity) is paid by Muslims and deposited into a fund that is distributed to the poor directly or through religious institutions. Zakat is imposed at a rate roughly equivalent to 2.5 percent of the market value of an individuals real and financial property. The understanding is that social welfare and d evelopment of the poor are improved through the collection of zakat. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Resource optimization. Funding is provided only for projects that, in the banks estimate, have the most favorable return-for-risk forecasts, in addition to meeting the criterion of being socially beneficial. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Equitable distribution of resources. The distribution of income and resources of Islamic financial structures is intended to be proportionate to the value offered by participating parties. Don’t waste time! Our writers will create an original "An Introductory Overview Contemporary Essay Online For Free" essay for you Create order

Thursday, May 14, 2020

Analysis Of The Movie The Happy Ending Of Raisin

The Happy Ending of Raisin in the Sun Raisin in the Sun was a drama film in 1961, which was adapted from the original play â€Å"Raisin in the Sun.† In the film the plot mainly focuses on a black family named Youngers and their dreams to pursue a better life away from the cycle of poverty. The film as well shows the struggles of the family and how they deal with their hard times, which includes the family having to pull their resources together for the overall betterment of themselves. The Youngers consist of a family of five: Lena Younger, the mother; Walter Lee Younger, Lena’s son; Beneatha Younger, Lena’s daughter; Ruth Younger, Walter’s wife; and Travis Younger, Walter and Ruth’s son. They resided on Chicago’s South Side in a cramped two-bedroom one bath apartment. Located in a place known as â€Å"Black Belt† where, according to ‘Wikipedia’ â€Å"was the chain of neighborhoods on the South Side of Chicago, where three-quarters of the city s African Amer ican population lived by the mid-20th century.† Where things weren’t looking as bright as another child was upbringing. Then on top of that the family was just getting over the death of grandfather Youngers Sr. as he had just passed not too long ago. While the family had become aware that they would receive a $10,000 insurance check for their lost one, it was almost like the money wasn’t enough because what the family truly desired was status and a way out of their old life. If the Youngers family wasn’t lacking on their knowledge,Show MoreRelatedDeveloping Management Skills404131 Words   |  1617 PagesLine 58 Understanding and Appreciating Individual Differences Important Areas of Self-Awareness 61 Emotional Intelligence 62 Values 65 Ethical Decision Making and Values 72 Cognitive Style 74 Attitudes Toward Change 76 Core Self-Evaluation 79 SKILL ANALYSIS 84 Cases Involving Self-Awareness 84 Communist Prison Camp 84 Computerized Exam 85 Decision Dilemma s 86 SKILL PRACTICE 89 Exercises for Improving Self-Awareness Through Self-Disclosure 89 Through the Looking Glass 89 Diagnosing Managerial Characteristics

Wednesday, May 6, 2020

Fossil Fuels And Its Effects On Our World - 1573 Words

Fossil fuels have been a big discussion in today’s world due to the pollution they have been causing on the earth. Fossil fuels have been creating energy for the world for so many years. Fossil fuels like oil, natural gas, and coals used every day by almost every American. We use it to travel, to keep us warm, to cook our food, and many other everyday activities, but we don’t know the harm it is doing to the world. Thanks to Media today we are starting to realize the damage fossil fuel is causing on our world. But can we live without the use of fossil fuels, they been around for so long can we move on from their advantages. How Did Fossil Fuels Form? Fossil fuels were formed millions of years ago. Many people thought fossil fuels were formed by the remains of dead dinosaurs, but fossil fuels were actually formed before dinosaurs even walked this earth. (US Department of Energy). â€Å"However Fossil fuels were once alive; they were formed from ancient plants and animals that lived hundreds of millions of years ago. When these plants and animals died, they decomposed and became buried under layers and layers of mud, rock, and sand. Eventually, hundreds and sometimes thousands of feet of earth covered them.† (US Department of Energy). A million years later the dead plants and animals decomposed into organic materials and formed what we call now â€Å"Fossil Fuels† (US Department of Energy). There are three types of fossil fuels and how they were formed depend on theShow MoreRelatedThe Effects Of Climate Change On Fossil Fuels1431 Words   |  6 Pagesatmospheric carbon dioxide produced by t he use of fossil fuels.† (Google Dictionary). Due to our dependence on fossil fuels as our main source for energy and our carbon dioxide emissions over decades, climate change has rapidly emerged on Earth. Yet, we still have those who deny any scientific evidence of the effect of the dependence on fossil fuels. Climate change is a threat one should not ignore but want to reverse with the transition from fossil fuels to clean energy. An issue, which one should considerRead MoreThe Effects Of Fossil Fuels On Our Planet And Its Occupants957 Words   |  4 Pages1800’s, our home planet has suffered through the use of fossil fuels. Fossil fuels primarily consist of coal, oil, and natural gas which formed from dead plants and animals that died several million years ago. Because of the Industrial Revolution and the rise of technology, we are using our naturally occurring fuels considerably faster than they are being replaced. These fuels also damage our planet and its inhabitants and are depleting at an alarming rate. In order to ensure the longevity of our planetRead MoreHow Does Human Activity Make The Greenhouse Effect Worse?993 Words   |  4 PagesGreenhouse Effect How does human activity make the greenhouse effect worse? In now day, almost every country, every people talking about environmental protection problem. One of the biggest part affecting the environmental is greenhouse effect. And the greenhouse effect getting worse that the root cause is ourselves: human activity. In life, some of the small act we never pay attention for that, but that act may be one of the cause to make the greenhouse effect worse. Fist of all, fossil fuels can makeRead MoreNuclear Energy : Nuclear Power1251 Words   |  6 Pageslasting effects that we as a country are working to fix. However I believe the most promising form of energy is nuclear power. Between nuclear power and fossil fuels, nuclear power is the safest, most environmentally friendly and will meet our country s energy demands in the future. 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Nowadays, power and electricity are in every facet of our daily lives. Due to this, we overlook several negative effects our traditional use of fossil fuels have caused. Fossil fuels are fuel deposits that were formed hundreds of millions of years ago, which is where the term fossil fuels come from. The two most common fossil fuels currently in use are coal and oilRead MoreThe Effects Of Fossil Fuels On The Environment1252 Words   |  6 PagesAll over the world, people have been stuck on using fossil fuels. This addiction has been ongoing for the past century as the primary source of energy. Global usage of fossil fuels which include oil, coal, and natural gas, is now producing mass amounts of greenhous e emissions within our atmosphere. Such a series of events have cascaded into changes that are currently effecting the earth on multiple levels. Several of these effects are, but are not limited to: earth’s sea levels rising every yearRead MoreSolar Energy : Solar Panels999 Words   |  4 Pageschanges and the effect of fossil fuel energy for not only being environmentally destructive but also causing Global warming (the warming that occurs as a result of increase emissions of greenhouse gases) has become a very big issue worldwide. The fossil fuels (Oil, Coal, and Natural Gas) which is the main sources of the world’s energy sources have negative natural emissions coupled with the human activities that change the atmosphere’s composition (e.g. through burning fossil fuels) have contributedRead MoreNuclear Energy And Fossil Fuel992 Words   |  4 Pagesdebate on what is better the use of nuclear energy or the using of fossil fuel? People over the years have bee n debating on a realistic way on saving energy but also having an efficient amount of energy to generate millions of homes and places. The two sources of energy that are mostly used are nuclear energy and fossil fuels. Often people say that nuclear energy is the best approach while others believe it is the burning of fossil fuels. These two sources of energy have their own pros and cons whenRead MoreThe Drilling Of The Oil922 Words   |  4 Pagesis shipped over by large tanker ships (Energy Quest 2012). Petroleum is made into various products such as gasoline/ diesel fuel, home heating oil, fertilizers, and plastic products (Energy Quest 2012). 74 percent of our oil is used for transportation including, trucks, buses, cars, and planes (Energy Quest 2012). Drilling of the oil is a costly process and has severe effects to the environment. Drilling on land requires a lot of space, disturbing the natural animal habitats, while drilling at sea

Tuesday, May 5, 2020

Define Euthanasia and assisted suicide Essay Example For Students

Define Euthanasia and assisted suicide Essay Abstract This paper will define Euthanasia and assisted suicide. Euthanasia is often confused with and associated with assisted suicide, definitions of the two are required. Two perspectives shall be presented in this paper. The first perspective will favor euthanasia or the right to die, the second perspective will favor antieuthanasia, or the right to live. Each perspective shall endeavor to clarify the legal, moral and ethical ramifications or aspects of euthanasia. Thesis Statement Euthanasia, also mercy killing, is the practice of ending a life so as to release an individual from an incurable disease or intolerable suffering. Euthanasia is a merciful means to and end of long-term suffering. Euthanasia is a relatively new dilemma for the United States and has gained a bad reputation from negative media hype surrounding assisted suicides. Euthanasia has a purpose and should be evaluated as humanely filling a void created by our sometimes inhumane modern society. Antithesis Statement Euthanasia is nothing less than cold-blooded killing. Euthanasia cheapens life, even more so than the very divisive issue of abortion. Euthanasia is morally and ethically wrong and should be banned in these United States. Modern edicine has evolved by leaps and bounds recently, euthanasia resets these medical advances back by years and reduces todays Medical Doctors to administrators of death. Euthanasia defined The term Euthanasia is used generally to refer to an easy or painless death. Voluntary euthanasia involves a request by the dying patient or that persons legal representative. Passive or negative euthanasia involves not doing something to prevent deaththat is, allowing someone to die; active or positive euthanasia involves taking deliberate action to cause a death. Euthanasia is often mistaken or associated with for assisted suicide, a istant cousin of euthanasia, in which a person wishes to commit suicide but feels unable to perform the act alone because of a physical disability or lack of knowledge about the most effective means. An individual who assists a suicide victim in accomplishing that goal may or may not be held responsible for the death, depending on local laws. There is a distinct difference between euthanasia and assisted suicide. This paper targets euthanasia; pros and cons, not assisted suicide. Thesis Argument That Euthanasia Should Be Accepted Without doubt, modern dying has become fearsome. Doctors now possess he technologies and the skills to forestall natural death almost indefinitely. All too often, the terminally ill suffer needless pain and are kept alive without real hope, as families hold a harrowing deathwatch. In ancient Greece and Rome it was permissible in some situations to help others die. For example, the Greek writer Plutarch mentioned that in Sparta, infanticide was practiced on children who lacked health and vigor. Both Socrates and Plato sanctioned forms of euthanasia in certain cases. Voluntary euthanasia for the elderly was an approved custom in several ancient societies . Euthanasia has been accepted both legally and morally in various forms in many societies . There is no more profoundly personal decision, nor one which is closer to the heart of personal liberty, than the choice which a terminally ill person makes to end his or her suffering , U. S. District Judge Barbara Rothstein wrote (R-1). Organizations supporting the legalization of voluntary euthanasia were established in Great Britain in 1935 and in the United States in 1938. They have gained some public support, but so far they have been unable to achieve their goal in either nation. In the last few ecades, Western laws against passive and voluntary euthanasia have slowly been eased (1). The proeuthanasia, or right to die, movement has received considerable encouragement by the passage of laws in 40 states by 1990, which allow legally competent individuals to make living wills. These wills empower and instruct doctors to withhold life-support systems if the individuals become terminally ill . Euthanasia continues to occur in all societies, including those in which it is held to be immoral and illegal. Night Chapter 4(Poem) and Chaptr 8(Eulogy) EssaySlightly more than half of the physicians surveyed in Washington State would approve the legalization of physician-assisted suicide and euthanasia under certain circumstances. A total of 938 physicians completed questionnaires bout their attitudes toward euthanasia and assisted suicide. Physician- assisted suicide was described as prescribing medication and providing counseling to patients on overdosing to end their own lives. Euthanasia was defined as administering an overdose of medication at an ill patients request. Forty-two percent of physicians indicated that they found euthanasia ethically acceptable under some circumstances. Fifty-four percent indicated that they believed euthanasia should be legal under certain circumstances . Today, patients are entitled to opt for passive euthanasia; that is, to make free and informed choices to refuse life support. The controversy over active euthanasia, however, is likely to remain intense because of opposition from religious groups and many members of the medical profession . The medical profession has generally been caught in the middle of the social controversies that rage over euthanasia. Government and religious groups as well as the medical profession itself agree that doctors are not required to use extraordinary means to prolong the life of the terminally ill . The Second Chamber of the Dutch Parliment developed and approved the following substantive and procedural guidelines, or points for Dutch hysicians to consider when practicing or administering Euthanasia: Substantive Guidelines (a) Euthanasia must be voluntary; the patients request must be seriously considered and enduring. b) The patient must have adequate information about his or her medical condition, the prognosis, and alternative methods of treatment (though it is not required that the patient be terminally ill). (c) The patients suffering must be intolerable, in the patients view, and must also be irreversible. (d) There must be no reasonable alternatives for relieving the patients suffering that are acceptable to the patient.