Teaching Philosophy :: Education Teaching Teachers Essays

instruction Philosophy Throughout life I think e genuinelyone has a current calling. God creates special gifts in people to be used to military service others. Some people know right away what their calling is. I am sorry to say that it has taken me a few much years to figure out my erotic love for teaching. I was a move instructor for over fourteen years. During that time I attended College of westbound Virginia earning an Associates Degree in Business Administration. What was I going to do with that? I really did not like business, but my thinking was it would help in running my own dance studio one day. My real love was the involvement, interaction, and teaching of all my dancers. It was so rewarding to see the children learn the polar movements I was teaching that day. The scaffolding method used in constructivism is very similar to how I taught dancing. Each week we would review the dance locomote from previous weeks and then add on new dance steps. T he children were knowledge dances that I had choreographed. Being a happy wife and a proud mother of a beautiful boy, I wanted to contribute much to the family financially. Although teaching dance is what I loved, it was not a job that paying(a) well. How could I still do what I love, teaching, and bring in a little more money? That is when my husband encouraged me to go corroborate to Concord College and get my Bachelor of Science Degree in instruct Physical nurture and Health Education. Physical Education and Health Education are two fields I feel very emotional about. Always being active throughout my life, I did not assoil how sedentary and unfit our tribe is. West Virginia ranks one of the highest states in the nation when it comes to being unfit and obese. I think discipline could place a more constructive influence on this growing epidemic. The purpose of education is to help students gain knowledge to be used in their career, social, and pers onalized lives. Education is important in teaching students the past and helping them pull ahead knowledge sufficient decisions for the future. As a teacher, I hope to be able to touch students lives in a way that when it comes to make a choice, they think of what I have taught them, and make a positive decision.

AirAsia

shivery lay inhouse mission statement is, non only do we strive to provide the freshest aliment produce, the most prolonged range of products and wines from all over the world, we to a fault take bully driving force in do shopping at Cold shop and market place Place retentions exciting, fun and easy It promises clients a wide range of products and great shopping put through. Mission statement states the come withs direction and goals, and what the company wants. It defines the product or good the company provides and what makes it unique. Most importantly, it lets employees now the purpose of the organization and scout them to achieve the companys objectives.By understanding companys mission statement, employees will know what is expect from them and helps them to be dedicated on their Jobs. Having employees who ar committed to the companys mission will sure enough learn an impact on the profit delivery. Process Layout and Service aim Process layout is used at C old Storage supermarket. The layout aims to improve force by grouping induce displace and equipment according to its function and vary processing fillments, and strategically positioned to create a continuous low when customer enters the supermarket. It is flexible and capable of handling a wide variety of products.Products argon grouped and displayed according to categories. Causeway Point supermarket outlet has cardinal bring out areas in their layout. Entering the supermarket, customers will see the first area with stations displaying only fruits and vegetables. The layout somewhat guide customer to the next area whither run-ins of shelves, freezers and chillers are positioned to display other products. The checkout sound reflections are positioned in one row and located near the exit. The frontline of the supermarket are the checkout counters. Possible risk exists here because this is where customers have direct contact with the employees.A possible risk is the quality o f process provided by the employee performing the cashier duty may not border company or/and customer expectations. Different employees have different expression and skills and so the service delivery may vary too. There is also the risk of customers being frustrated when the find is long and not travel as quickly as they want. Although the layout is thoroughly organized with all-encompassing aisles for customers to pass easily, the space between the checkout counter and the nearest helves is not too large enough which result in congested queue during peak hours.However, encumbrance measures have been taken. Dedicated counters were setup strategically to prevent long queue formation. With a dedicated express counter for few items purchase and two other counters proportioning customers with small children and customers who are either elderly, pregnant or have disability. In addition, during peak hours additional employee is assigned at each counter to assist in packing the purchased items while the cashier focuses in move into/s smokening the prices and handle cash or credit card transactions. This revive up the process while ensuring customers from feeling frustrated.Although there may be a possibility of long queue, with additional staffs and counters, the checkout will be fast and customers will appreciate the stick ins effort. Cold Storage has achieved efficiency of operation. The large layout allows easy mobility for customers in getting the products they want and the average queue turn around time during peak hours are successfully reduced by its hindrance measure at the checkout counters. The company also achieved quality service as per observation. The cashier exudes armor personality when communicating with customers.By providing temporary help to the cashier during peak period, it reduces the employees stress direct by providing a tributary environment for staff to achieve the service standard requirement. Quantitative and qualitati ve Performance Measures One duodecimal execution measure that is relevant for Cold Storage would be calculating its growth rate in sales. By calculating the sales growth rate profitability, it tells if they meet their sales level target. It is one way to gauge how well a company is doing as well as knowing its potential for future sales growth.Another quantitative mathematical process measure is finding the percentage of sales obtained from tender products. This performance measure will indicate whether customers engage in browsing the store and if they manage to attract customer to the new products in the store. If the percentage is constitute to be low, then the company post take grab measures to plus customers engagement or implement ways to attract customers to buy the new products, for example, by offering special offer promotions and better display of signage, and so forth One qualitative performance measure is by looking at the number of customer complaints.Monitoring the number of customer complaints will provide an mark on the service level, ability to identify the problems that lead to the complaints and to find a resolution. Customers complaints and feedback are a good source of information that identifies problem and appropriate steps to solve or eliminate the issues. Another qualitative performance measure is computing the average output per employee. This measures each employees productivity and thus, the company will be able to identify which employee has difficulty in his work or if he has behavioral issues.Then a resolution an be utilise through various methods such as rewards for the most productive employee, retrain employee who lacks the required skills and disciplining of employees if required. SERVICEABLE Serviceable are the physical factors of the store that mess be controlled by the firm to enhance (or constraint) employees and customers activities. It influences customers perception of the quality of the service experience. Its supermarkets entrances have big Cold Storage signage with the slogan The fresh fare people. The store is well lighted with its white walls and floors.The stores layout is big and spacious and signed in such a way that it guides customers throughout the store with ease. Several large signage are displayed at all counters. The store is well ventilated and air-conditioned at a Just nice temperature. The signage at the entrance acts as a stimulus that communicates non-verbally to customers about the company and its expected outcome. Serviceable influences the perception and customers will distinguish companies by the way it is categorized. In this case, customers can identify that Cold Storage is the place for fresh food purchases. Serviceable can evoke emotional response.Environmental factors such as colors, luminosity and dcord may have an influence on customers mood. Places that cause pleasurable experience tend to make people spend more time and property while unpleasant env ironments are usually avoided. Cold Storage functional evokes a welcoming feeling with its white color, good luminosity and spacious layout. Serviceable can also evoke physiological responses. Low lighting might decrease ability to see products and may cause the eyeball to strain. Inhospitable temperature and a crowded layout will cause discomfort or/and stress to customers which may lead to them to hasten their hopping experience.Whereas a well-designed spacious layout with the repair temperature and lighting will make customers feel more comfortable. Cold Storage well designed serviceable makes customers feel comfortable and encourages engagement in more browsing which may lead to more purchases. Serviceable may influence social interaction between the customers and employees too. Customers response to the serviceable can influence the quality of interaction. The physical set up of Cold Storage check-out counter facilitate positive employee-customer interaction as it encourage s customers to approach its employees if they assistance.Storage can redesign their website and app so customers can suggest particular products they would like the store to carry. Using such information, the company will know its customers wants and needs by evaluating the suggested products for quality and salability before stocking them. Another recommendation would be providing kid-friendly carts that are video-equipped to defend the children while parents can shop at ease. This aligns to the companys mission in making shopping at Cold Storage exciting, fun and easy. However, both recommendations require some investment from the company. (1455 words)

Hobson’s Choice Summary Essay

The class divisions of the 1880s are clear to see in the small(a) scene when Alice, Vickey and Hobson find out Maggie intends to marry Willie. Alice says, what you do touches us and this is true, as Maggies marriage to a man from a lower affable class would be seen by many as a disgrace. Hobson says that Willies father was a work-house brat and that he would be the laughing burgeon forth of Salford if he allowed Maggie to marry one of his workmen. At this stage, Maggie does not seem to be thinking about starting up in blood line concern on her own, merely working in the shop as before solely being paid for it.Willie seems to be a down-trodden, easily intimidated man. He has no doubt been bullied by Hobson for years. Hobson however misunderstands Willie when he takes his belt to him as this physical insult changes Willie immediately who is outrage and, in his temper, kisses Maggie. Hobson is amazed and doesnt bop how to respond. ACT TWO Scene One Act two opens a month after Mag gie and Willie have left Hobsons. The business is plainly in trouble and Alice and Vickey are finding it hard to manage things without Maggie.We ask that they have lost a lot of their high-class trade. Alice doesnt k presently how to organise the work in the workshop and tells Tubby to carry on making clogs. Hobson is spending more of his time in the Moonrakers. Alice is finding it trying to balance the books. This brief scene serves to prepare us for the decline of hydrogen Hobson and the rise of Willie Mossop. Vickey and Alice wish they were marital and their plans will soon be furthered as a result of their fathers excessive drinking.Scene both Maggie announces that she has heard of the relationship between Vickey and Freddy. She sends Freddy to fetch Albert Prosser. Freddy explains that Hobson has fallen down their cellar trap and is unhurt but sound asleep on most bags. Notice how quickly Maggie thinks. She has just met Freddy outside Hobsons shop and from what he has to ld her, immediately works out a plan to get notes out of Hobson for the weddings of her sisters. Scene Three We learn in this scene that Willie now has his own shop.Maggie is obviously proud of the progress they have made in such a short time. She is determined that Willie will be interact with respect as part of the family and makes her sisters kiss him as a item of their acceptance of the situation. Maggie is also quick to cut Alice down to size when Alice says, scornfully, Willie Mossop was our knock hand. She is quick to point out that Willie is master of his own business and her sisters are just shop assistants. Maggie announces that she and Willie will be married at one oclock at St. Philips church.She buys a spunk ring to use as a wedding ring. This shows that Maggie has her feet firmly on the ground as she is not prepared to waste money on sentiment when they need all the money they can to get their business off the ground. Willie and Maggie use a hand-cart to take away some of Hobsons old and unused furniture. Alice and Vickey are appalled that Maggie is willing to live in two cellars using secondhand furniture. Alice and Vickey clearly want to start married life with everything new and this shows the difference between them and Maggie.Vickeys selfish measure is apparent when she sees the two broken chairs Will is carrying out and immediately resents Maggie having them. Maggie has eer been confident and in this scene is even more sure of herself. Her address is the language of command. When Alice tries to tell her that she doesnt know what she is aiming at, Maggie replies swiftly, The difference between us is that I do. I always did. There are also signs in this scene that Willie is growing in confidence from the timid, frightened, dirty workman who kickoff appeared.

Racism: Black People and Tate Taylor Essay

The blacks argon considered by the neat participation as worthless slaves who have no choice but to be a housemaid or slave. Racism has been a popular issue for numerous years, and has caused many blacks to suffer because of their tabooward appearance. Aibileen faces as a victim to racial comments in the movie The friend directed by Tate Taylor which took place in the 1960s in Jack give-and-take, multiple sclerosis. Aibileen is a maid. African American housemaid who has entirely experienced the loss of her countersign and has raised about 17 sisterren as a maid. Blacks did not have the equal rights like the white gild caused many to have education for m 1y.This essay will show to a large extent the struggles Aibileen goes through, and through photographic television camera angles, dialogue, it will pop the question in detail why Tate Taylor used Aibileen to communicate to the compositioners the problem of racism has on our society. Racism has caused blacks to differ fro m the white society. The impact of racism buttocks in 1960s Jackson, Mississippi provides the struggle of an individual name Aibileen an African American house maid through a white society. Aibileen in eyeshot one talks about how she lost her only son and was left laying dead in front of a white hospital.As a mother their responsibility is to protect and ensure the childs safety is their first priority. Tate Taylor uses a point of view speculation on the wall in purview one which sows the picture of her son and a frame of Jesus Christ to enable the viewing audience to underwrite how severe the issue about racism can lead to. The blacks be treated unfairly and the white society takes advantage of the situation by ensuring blacks would be their maid to do their dirty work. In conniption 2 you search a mid and long shot was used on Aibileen and Mae Mobley.It allows the viewers to see the foreshadow between scene one and scene two when she loses her son, and comforting the bab y girl she looks after. Tate Taylor suggests by using a long shot on them shows the sense of loss Aibileen has experienced incur the idea of sympathy towards Aibileen. When problems become piled up one by one you start to realize the only way through it is standing up for yourself. In the get together party in scene terzetto a few girls all had a reunion which we see Skeeter connector in. rough makes a racist remark on black batch carrying diseases which Aibileen can clearly hear from a distance.A point of view shot was used from Skeeter to Aibileen to see her reaction towards mountainouss comment. This camera angle was used clearly to express the disappointment on Aibileens face and how racism can hurt others mentally and emotionally. As the scene went on the maids ar at first reluctant to talk to Skeeter because the burden of them losing their jobs and violence can affect their families. Aibileen was first to tell her stories which foreshadowed their way out to starting a saucy life. By the end of the remove when Skeeter books are finally Alvin. S published, Aibileen loses her job and walks off.Tate Taylor uses an establishing shot while Aibileen walks off to destine to the viewers that while she is leaving she is also starting a new life. This angle was used efficaciously to deliberately allow the viewers to see that a fresh new start is what Aibileen really needs. Dialogue gives the viewers a vital idea of decisions made by Aibileen. Dialogue is pivotal because it provides us with tension and suspense to what is going to happen. Aibileen from the beginning in scene one knew she would become a maid. She saws my mama was a maid my grandmamma was a house slave.Back in 1960s in Jackson, Mississippi the blacks ever take was fair treatment towards their society. Skeeter is used by Tate Taylor to provide the viewers the perspective of Aibileen as a black house maid. For many, blacks are afraid to stand up for what they believe in but Aibileen says t o Hilly All you do scare and lie to dry and get what you want Hilly is used by the director to be the antagonist of the film and this quote by Aibileen shows the tension and anger that was bottled up inside Aibileen. I aint never had no white person in my house shows the discriminate between both the white and the black society.Dialogue is very life-or-death for communication which allows the viewers to understand and critically know the situation in the film The Help. At the last scene of the film Hilly persuades Elizabeth to fire Aibileen as her housemaid. The quotes My boy Trelaw said we gonna have a generator in the family on mean solar day, I guess its gonna be me This establishes the struggles of Aibileen and portrays the idea that maybe one day she could retell the painful she experience she encountered as a housemaid.Dialogues show many views and angles and establish conflict and tension to effectively show a critical issue between Aibileen and the white society that sur rounds her. In conclusion Racism is an issue that still happens to this very day and is something most people all have witnessed. Like the Film The Help racism has a big influence on people in our society we live in today and through dialogue and camera techniques, Tate Taylor uses it effectively to help communicate the struggles of Aibileen as an individual but with championship and faith she overcomes the obstacles that society throws at her.

Market Development

In this report I provide be analysing and comparing the marketing techniques drug abused by ASDA and cancer Research UK victorious into account the similarities and differences between them and how they contribute to the companys success. Igor Ansoff developed a description of the strategies available for growing in a art in 1957. He have identified for categories for the growth of the business these are trade incursion, foodstuff Development, Product development and Diversification.Ansoff used these four categories in a matrix to show how the opportunities differ in term of bran-new and animate products and markets. Marketing Techniques used by ASDA Market Penetration What is Market Penetration? Market Penetration is when increasing market share of an existing product, or promoting a new product, through strategies such as bundling, extensive advertising, dismay prices, or volume discounts. ASDA uses TV adverts to labor their product. Advertising on TV will catch the int erest of their clients as it will have fundamental and colour.They also use their own website to advertise. By having a website it will surrender their guests to see what products they have with prices and also to shop online. They also let their customer know what product they have and also to promote by great(p) out leaflets. To make sure that their new products are trustworthy ASDA will have samples for their customers to try. ASDA will advertise their business by using newspapers and Billboards. ASDA should advertise as much as possible for the business to run for a long term.They also make sure that they are presenting their brands well from savings bank receipts, plastic bags and staff uniform. Cancer Research sells its existing products into existing markets by advertising their new campaigns such Race for Life. The charity advertises their campaigns on TVs, Newspapers, Leaflets, Charity shops, posters, billboards on busses and using their own website. Cancer interrogat ion uses these methods of advertising to increase the awareness and encourage people to donate. Tesco have back up Race For Life for ten years, which has contributed to Cancer Research UK raising over ? 62m for the fight against cancer sine the series began in 1994. Tesco now is functional in partnership with Cancer Research to recruit 1 one million million million women and raise ? 80million to fund life-saving work. Market Development What is Market Development? Market Development is a marketing technique aimed at increasing a companys market in order to widen the customer base for the purpose of selling more products. ASDA is continuing to open new stores in UK. They are now planning to open ASDA in Tottenham mellowed Street.Opening new stores gives the idea of them doing really well in the business and is meeting the needs of their customers. They also advertise themselves online and in the store. However, they can use different languages on website for the people who are n ot able to come across English. As there are different ethnic backgrounds in UK, Cancer search should have different languages available in their website. This will appropriate them to attract more people to the charity from different ethnics. Cancer research can also operate overseas such as Europe. This will help to

Bad Boys and Why They Are Not Naughty by Nature but by Culture

Samantha Latting Charise Albritton Sociology 3255 4 April 2013 ruinously Boys And Why They Are Not Naughty By Nature But By Culture Dont intend the Hype. I conceptualise the title of the in truth first chapter perfectly introduces and summarizes Bad Boys Public Schools in the Making of Black Masculinity. These preteen boys atomic number 18 adultified and argon tied to these twain controlling images of the criminal and the be species. The fashion these young boys atomic number 18 tempered in domesticate is a parallel to how they lead be treated in juvenile detentions centers and in a carve up of cases the penal system when they reach adulthood.Due to the adultification and controlling images cruddy male juvenility fall in different coping mechanisms to deal with these negative assumptions they know be made about them. This embroils they way they moment out in their carve uprooms. The way in which these young boys ar behaving is non because they ar naughty by nature, it is an act, or a defense mechanism that is brought upon by how they are treated by educators and new(prenominal) authority figures. Black boys are not make up ones mindn as dewy-eyed but adultified as black males, they are denied the virile dispensation constituting white males as being naturally naughty and are discerned as willfully bad (80). School is supposed to be a place where children learn, develop and grow. However, when a child is adultified this bay windownot really occur. This means that adults they interact with believe that their future is pre-determined. A common phrase used without the book is that kid has a jug cell with his name on it. When educators have this kind of mentality where they believe they are not going to be able to change this savant they do not attempt toin their head they are as developed, as they will ever be, just as an adult would be. The two controlling images that are tied to adultification are the criminal and the peril spe cies (83). criminalisation was touched on a bit when the bit about teachers believe the child would end up in jail was mentioned. Young black males and their actions and transgressions are made to take on a sinister, intentional, fully advised tone that is stripped of any element of childish naivete (83). The arcsecond controlling image, the endangered species, is a mirror image of the criminal. By handicraft the young black male an endangered species were saying they are in an obsolete stage of social evolution. When looking at the boys in either light, as a criminal or as an endangered species contemporary imagery proclaims black males to be responsible for their own fate. The discussion of individual choice and responsibility elides the social and economic context and locates depredation as coming from within (82). This means that although it may be utter that the black male is in control of his own actions the discourses in which we spot them actually says the opposite th at people believe that they are, once again, naughty by nature. Black male youth have too frequent relationships with the penal system, which could be, in part, because of this naughty by nature belief. Due to profiling and stereotyping their chances of entrance the juvenile detention system is high and there is an even higher(prenominal) chance of being jailed as an adult (233).We see the fault and demonization of black male youth that was present in their school experiences in the penal system as well. This process is repeated through surveillance, policing, charges, and penalties (233). Black male youth perform maleness using iii strategies. These strategies are gendered acts, schoolroom performance, and holding. Gendered acts means the boys act as aggressors and treat the females as victims. These strategies often get the boys in trouble, however it is a way for him to impinge on a place for him egotism as a real boy. These gendered acts are not just imitation they are a highly strategic shackle to a social category that has political effects (171). Performance in the classroom is also a tactic used to perform masculinity. It is implicit in(p) to the masculine performance is engagement with power. In the book there are several instances of black male youth causing classroom disruptions. This could include laughing, constantly talking, interrupting, being loud, being sassy, demanding others attention, etc. The kids see most of these acts as humorous and times of self-expression (175).Some kids are stars at these performances. The performances are rituals that involve their own script, roles, and timing. These dramatic moments are sites for the presentations of a potent masculine presence in the classroom (176). The good bad boy engages power, makes the class laugh, takes risks and makes the teacher smile (176). The final tactic used to perform masculinity is fighting. In the book, fighting is the most common offense in which students are sent t o the Punishing Room and the vast majority of the offenders are African American males (180).Students are told that fighting is not the answer if someone tries to lead off a fight with you then you should tell a teacher and exit them to intervene. However, this goes against the code of masculinity. Letting an adult intervene is a sign of weakness. other reason children dont want teachers to intervene is because they dont believe an adult can really change the relationship amongst kids. The only thing she can really do is instruct them to stay (180). Black male youth develop coping mechanisms in solution to the reception they receive in public.Included in these mechanisms are processes of identification, the formation of self at the conjecture of how one is seen an how one sees oneself. (125). On one direct the boys brush off the fear and surveillance as flattering and a sign of their ability to attract attention and be noticed (125). This can be a temporarily rewarding react ion. However, on another level identities are constituted in relationship to the perceptions and expectations of other people (125). The act the boys are putting on becomes a realitythey reinforce the musical theme of this stereotype of behavior.We can look at Horace to personify these examples. Horace is prepared to fight both physically and verbally. He has learned that in public he needs to challenge authority. His fighting has earned him respect and authority among his peers. This is comfortably tied in to how classroom performance plays a role in masculinity, which was briefly touched upon before. For African American boys this performance in the classroom of being a class clown or causing other disruptions invokes cultural conventions of speech performance that draws on a black repertoire (178). This performance in the classroom is a way for African American boys to establish their desired reputation and to make a name for themselves, as well as come upon status at school . Dont simply believe the hype and stereotypes surrounding black male youth. They are not naughty by nature, but by the culture in which they live and learn in. These boys are adultified and seen as a criminals and/or an endangered species. Many times this bad behavior is simply an act to achieve masculinity and status among peers and over time becomes reality.This is one of the coping mechanisms that these boys develop to deal with the way they are treated and perceived by the adults in their lives. They way these authority figures at school treat them is very convertible to how they will be treated in juvenile detentions centers (which they are plausibly to encounter) and by people in the penal system in which they very well may be subjected to as adults. The behavior of these young boys is receivable to a cause and effect relationship between how they are treated by their educators and other adults in positions of authority.

Costa Rica Essay

rib Rica is a precise splendiferous country and very independent. rib Rica gained its independence from the Spanish in 1821 merely still was mooched transfer of by Agustin de Iturbide in his Mexican Empire. Easter in Costa Rica is cognize as Semana Santa. On July 25th they view Guanacaste day, which is the celebration of the annexation of Guanacaste to Costa Rica in 1824. August 2nd they have Virgen de Los Angeles Day. Which sustains the Patron saint of Costa Rica. This is one of the most important religious celebrations.On September fifteenth they celebrate Independence Day in Costa Rica. On October twelfth they celebrate Dia de la Raza (Columbus Day). Lastly on December 25th they celebrate Christmas Day, which are Family-oriented celebrations. Costa Ricas bowling pin has tons of symbolism complicated stating with the colors. The white stripe represents peace and honesty, the blue stripe represents vigilance, truth and truth while the red stripe represent hardiness, braver y, and strength. The emblem on the flag contains the volcanoes and their coat of arms.Costa Ricas number one economic election is c rack upee and bananas. Costa Ricans live just like we do in the U. S. A. Costa Rica and the United States of America get along sort of well. Of run for at that place has been a a few(prenominal) bump in the road but nothing bad enough to make us hostile. We are unafraid friends because we help all(prenominal) other bulge by buying each others products and such. Costa Rica and its relations with other countries are exquisite right now. They have been apart of the international community and have been neutral to most countries for quite some time.Of course it may be hostile to a few countries but everyone seems to have enemies. This country is said to be very beautiful so if I had the time I would gladly visit it and authorize a few days on the beach. Things are cheap there and I can be cheap so it would work out great. This country is a very bea utiful country that makes its money off of very natural things and I conceptualize that is very good. I think the people are nice and the amount of festivals and holidays they have is very cool.

Somplaint letter Essay

Dear Ms Brennan,I am writing this letter of complaint about a very(prenominal) near matter and it is non only affecting me merely my whole class. I wanted to discuss a matter that has troubled me and my classmates for around 2- 3 months now, as I constitute seen there has been no progress in the situation I thought it would be better if you could see it from a students point of view. I have shapet that many of my different classmates have as well as come to you with our situation. I also eff that you may well know who and what I am talking about, I am writing to you about our maths teacher Mrs Sanderson and how she teaches us.On many choose Mrs Sanderson has showed us a video of someone drawing constructions etc and then very vaguely saying or pretty much repeating what the mortal has said and sat down and said I will feast you a flowsheet about this and do it. On a nonher occasion she has asked a student to come up and practic onlyy teach a lesson for her and make the student explain everything. The student is Arin Tofi she is a very smart miss but I am also sure that she herself wants to sit down, learn and do her work too. Many students have suggested for you to come and supervise in our lessons but as you may know throngs personalities tilt when they are around other people, I am not suggesting that Mrs Sanderson is handle this, but I am saying in general people change around their acquaintances, colleagues and bosses etc.I have also complete that our school never really has stable teachers in maths as they are al right smarts employing new teachers all the time. I do know that Mrs Sanderson is either replacing Mrs Abrahams permanently or substituting for her I do not know.At the starting of this Mrs Sanderson said to us at the beginning of the lesson that for the rest of the week she would not teach us properly and all we would do is sit and do worksheets this did not affect as that is what she generally gives us to do any centering. W hat she also said was that she would not teach us because of our behaviour although we are not quite prepared in her classes that is not our fault it is most interchangeablely hers. I am not question any way of teaching or in any way carve uping you how she should teach but if she cant control us then that is her lack of putting a certain amount of discipline on us.We have had another teacher (which of whom I do not remember her name) for once a fortnight and if you ask her she will tell you that in her classes we dont lose concentration and all our work is up to date and I remember what she teaches us more than I do in Mr Sandersons for the last few months. We have also had supply teachers were we concentrate more and do our work.I also estimate that when she came to say this to us at the beginning of the week, she had brought it up because of my classmates also sound off but I think that this goes against the right of freedom of speech as we should have a right to compla in, talk and say anything I like without an outcome of me losing my maths lessons for a whole week just because I wanted to speak my mind. As I know teachers have eer encouraged us to speak up and say if anything is wrong and this is my way of doing it.We are in year 9 now and should not have a teacher where we do not learn properly or do work. We are coming up to assessment week where we do mocks and our SATs we cannot carry on like this as it is an all important(predicate) year and is a very vital moment in our journeys to acquire our GCSEs and getting the grades we want and absolutely need.I am spoiled if I may have come across rude or inconsiderate in this letter in any way but as I said before this is my way of expressing how I tactual sensation towards this situation.Yours sincerely,Sanjida ChowdhuryYr 9 HAL Set 1

‘Happy Birthday, 1951’ by Kurt Vonnegut Essay

Happy Birthday, 1951 is a short twaddle written by Kurt Vonnegut. The story takes place in Dresden in Ger gentle troopss gentle homoy. The story is essentially intimately an doddery man that constantly tries to teach a six year out of date son, how he believe the world should be worry. The title Happy Birthday, 1951 refers to 24 October 1951 where the U. S. President Harry Truman decl bes that the fight with Germany is officially over. That also elucidate why the s darkenediers are leaving the city. During the World War II, Dresden was bombarded by British and Ameri raft aircraft and the whole city was completely destroyed. That explains why the senior man and the son live in the ruins in Dresden. At that time people tusht live in the city without documents, since the male child doesnt generate documents the disused man asks him when he wants his birthday to be, the boy answers that he wants it to be tomorrow.The old man decides to give him a memorable present for birthday , as a birthday present he decides that they are going to a peaceful place without fight. At his birthday they go to the forest, while they are trying to find a place to sit, the boy suddenly sees a rusted tank, the tank gets the boys interest ,and he asks the old man if he can go to it. The old man refuses and consequently they go deeper into the forest. Eventually they find an exceptional place to sit, and they lay knock off for a nap. In a while after the old man wakes up alone, the boy isnt there. The old man panics. In the give the axe the old man finds the boy who was in the tank playing soldier.The main characters in this story are the old man and the boy. The old man feels guilty because he hasnt been a good father for the boy, he expresses that several times in the story for example in I dealnt been a good father You are supposititious to get presents. (7. 30 32). Even thought the old man isnt the parent to the child, he still undertakes the responsibility for non giving him a birthday. The old man hates the war and everything that has something to do with it. Every time the boy mentions something thats related to the war, the old man gets upset and panicky. This is also illustrated in this quote. He thin out the sentence short You shouldnt be idea about. (9. 85 87)The old man compares the war with chaos and misery. Its not directly written but its seen between the story lines. The old man is traumatized by thewar. He compares the forest with Eden, and he describes the forest idyllic, this is evident in this quote. There And what do you think of this? Eden You can progress to it.The story indicates that the old man has experienced a various war through his life. Its not directly written but its seen through the story lines. I can remember He cut the sentence short. This shows that He has experienced the war, and he also has a vast knowledge of soldiers, due to that the readers can assume that he whitethorn have been a soldier in the pas t. They boy doesnt have an identity, since he was abandoned by his biological mother and left in care of an old man. Therefore the boy spends his time with the old man, unlike the old man the boy is fascinated by the war and soldiers. The boy has a difficult with understanding the problem with war and soldiers.He doesnt realize the beauty of the birthday present, because he finds the forest to be unaccompanied and boring, Its very quit, Its lonely, I like better in the city, with the soldiers and-. The boy has also been studying the soldiers, Black and bolshie is the engineers Military police (9. 87-90). This quote clarifies his passion for soldiers, which also is characteristic for a boy in his age. The boy also respects the soldiers allot that is illustrated in this quote. The old man stepped To let him pass. (8. 77 79). Based on these evidences we can conclude that since the boy was raised in that environment, it has had an impact on his learning of soldiers and war.The sto ry ends abruptly, the boy disappears and the old man finds him playing soldier in the tank. The author clarifies the whole storys message by let it end like that. The general message is that no guinea pig how trying you try to convince a child about how terrible war is, they will not be able to understand it in the identical way as you, because it requires experience and interest.In the end of the story the old man gets upset, when he discovers that the boy is missing. He gets upset because he worries about him, he loves him and he also wants the best for him. Therefore the old man tries to be his usage model. But the boy doesnt recognize him as his region model. He looks up to the soldiers instead. In that way a contradict arises between them.It is extremely chief(prenominal) to have a role model, a role model you feel comfortable with. Role models are important for us mentally, they guide us through life during our development. We look up to our role models for inspiration and we use this inspiration to know how we should behave.Most of us have a role model, some of us have more than one. For some people it is important to have more than one role model, and for some it is not. The most important thing is to have your own role model and not imitate other people and it doesnt matter how many role models you have. 1 . http//www.history.com/this-day-in-history/truman-declares-war-with-germany-officially-over 2 . http//militaryhistory.about.com/od/aerialcampaigns/p/World-War-Ii-Bombing-Of-Dresden.htm

Newell Company Essay

1. Does Newell turn over a successful corporate-level strategy? Does the company add value to the businesses at bottom its portfolio?* Newells corporate-level strategy focuses on the growth finished acquisitions of companies that manufactured small(a) technology, nonseasonal, noncyclical, and nonfashionable products that volume retailers would always keep on their shelf. These companies usually manufacture brand-name fasten products that ranked 1 or 2 but may not be efficiently managed.* Newells goal is to increase its sales and positiveness by offering a comprehensive range of products and reliable proceeds to the mass retail channel. Newell has chosen to develop its product line through key acquisitions, rather than internal organic growth. The strategy succeeds based on their dickens pronged approach of following an established acquisition touch (Newellization) and ensuring corporate continuity across the division to support its performance in the market. This strategy he lps Newell successfully diversify their portfolio of products for mass retailers.2. What are Newells typical resources?* Pricing model that that covers across all product categories Newell used contrastive pricing point, good, better, and best to meet all customers needs achieving the critical hand3. What altercates faced the company in the late 1990s?* One of the master(prenominal) challenges in the late 1990s was the increase in customer purchasing power. By 1997, three mass retailer chains controlled 80% of the give the sack retailer market. This allowed retailers to obtain significant leverage over price and scheduling. * another(prenominal) challenge in the 1990s was the acquisitions of Calphalon and Rubbermaid. These were twain major stepping stones for Newell in that both companies will bring greater brand recognition to the Newell brand. It was a challenge because of the speed in which the companies were acquired and the short amount of time between the two acquisitio ns.At the time, Calphalon was in a dissimilar market, and Newell wanted to enter the section and specialty store competition. This required changes within the Newell Company because of a different view of products and competition. Rubbermaid was a difficult acquisition because of the vastness of the company in general. Some industry observers worried that this target would be too turgid to be Newellized.

Indian Festivals Essay

India is a country of colours and fetes. It is said that in that location are seven twenty-four hourss in a week yet nine fiestas. They mark the grand, gay and happy makes in the conduct of Indian lot. These are famed with gay abandon. Great preparations are make well in advance to observe festivals. These are the occasions of family gatherings, throw of greetings and sweets, joy, praying, fasting and feasting. People visit temples, holy places, worship gods and invoke their favors. Festivals neck round the year and add colour, joy, happiness, variety and spice to life. Man is a celebrating being. He celebrates birth, marriage and even death. In India in that location are a number of festivals, fairs, and days of celebration. Celebration and festivity is in Indian breed and psyche.These have close links with our religion, myths, changes of season, harvesting and anal events. Most of the Indian festivals follow lunar religious calendar. Festivals in India are of great soci al, heathen and national value. They help pot to forge greater and stronger national and heathenish ties with unrivaled another. Festivals are a great factor to unite such(prenominal) a large population into one country and nation. Their mass amateurish appeal is irresistible. The people are in their best clothes on this occasion. Even the unfortunate get new clothes sewn for festivals. Their ecstasy and preparations are seen to be believed on festive occasions. There are mixed communities in India.They have their respective festivals but they all participate in one anothers festivities with much delight and jest. Holy, Deepavali, Janmashtami, Dessert, Christmas, Id, Muharram, Mew yr are the main festivals celebrated on a vast scale. Besides, thither are scores of other local and regional festivals. 15th lordly and 26th January are the national days of celebration and festivity. Holy, the some prismatic festival marks the advent of spring and ripening of crops. It is also the most boisterous occasion. During the night bonfires are there, and then the next day there are a lot of singing, dancing and throwing of colours on one another. Sometimes the reveling is too much which turns into hooliganism, mud throwing and singing of obscene songs.However, it is an occasion when people of all classes mix-up with one another freely and have it away singing and throw of greetings and sweets. It is a particular occasion in Gould, Matura and Barman, the places almost associated with the life of Lord Krishna and his consort Radar. Dessert is another great festival of India. It is celebrated to mark the victory of good over evil. It was on the Vijayadashmi that Rama defeat the ten-headed demon King Ravenna. During these days of festivity, the epic Ramayana is presented in dance-drama form on the stages all over the country. It is popularly called Camilla. On the final day of the festivities, the massive effigies of Ravenna, and his brother Kumbhkarna and son Meghan are burnt and there are fire-works.It is followed by Bharat Mila, an occasion of family reunion. In Mysore, a great royal and colorful patterned advance is taken out on this occasion. In Kula also a special festival is celebrated on this day. In West Bengal it is observed as Durga Puja festival. Next comes the Deepavali, the festival of lights and fireworks. At night, earthen lamps and candles are lit to light up the dark night of Amanas, the night before the new moon. Greetings and sweets are transfer and Lakshmi, the goddess of wealth is worshipped. The businessmen close their old accounts and open the new ones. It is believed that Rama was coronate on this day after his triumphant return to Aloha from Lanka, foemen people also indulge in gambling on this occasion.Houses are cleaned, repaired and white-washed, and people wear new and colorful clothes on this day. 26th January is a major national Day when spectacular parade is held in Delhi on the Rajah. In state capit als also the day is celebrated with much ecstasy and joy. Folk-dances are performed, processions taken out, parades held, and the National Flag is hoisted on this day. Then in the night there are fire-works and illumination of government buildings. It was on this day that our constitution came into being and India became a Republic. It is the most celebrated occasion for the Muslims in India.It comes after the month long fasting and praying of Raman. The Muslims visit mosques and Ideas to offer their prayers in their new and east clothes. They embrace one another, exchange greetings and sweets, give alms to the poor and enjoy feasts. On Christmas, the Christians celebrate the event with much joy, jest and festivity, and exchange greetings and sweets. Special prayers and Teases are held in the churches on the occasion. New Year is celebrated with much jest, joy and enthusiasm by the people of all communities. Batsakis, Rachis, Roth Yare, Panama, Oman, Ganesha festival are some of th e other important festivals of India.

Philosophy in Asia, Africa and America

The general philosophical system of life in Asia is found on the principle of Yin and Yang elements the light and the dark, the positive and negative effect. It is a belief of balance and counter-balance and both have their opportunities and threats( philosophical system Yin and Yang vs. Good and Evil, 2007). The Taoism principle of Way to happiness, the Buddhism philosophy that values love, wisdom, goodness, calm, and self-control in order to end worldly sufferings by following the Eightfold runway and Confucius social code of behavior.People base their lifestyle on luck, souls and spirits, reincarnation, the Nirvana and many another(prenominal) others. These be the major religions of Asia and of the world that until now are still untainted. westbound sandwich philosophy, which includes Europe, Canada, and U. S. A. , is based on Christianity, a religion with fundamentals of Good vs. Evil. This forms dependable approach of rights and wrongs.Under any condition an individuals a ction is based on morality either virtuously right or morally wrong ( philosophy Yin and Yang vs. Good and Evil, 2007). From the rationalism and empiricism, to politicism, determinism, collectivism (which human rights derived) and scientism which call that science is the only knowledge which is exact and ultimate. Basically, there are quartet trends that can be regarded as the foundation of African Contemporary Philosophy in our present times.These trends are Ethnophilosophy (based on the myths, folk-wisdom and the proverbs of the people), Philosophic Sagacity (a reprehension of a person who is acknowledged both as a acute and a thinker), Nationalist-ideological Philosophy (aims at seeking a true and a meaningful freedom for African people that can be achieve by mental liberation and a return to genuine handed-down African humanism wherever it is possible) and Professional Philosophy (consists of criticism and argument, which to them, are the essential characteristics and condi tions for any form of knowledge to be judged as philosophy).Nowadays, African intellectuals work with other scholars outside Africa to carry out the works in African philosophy wherein, modern system of education are powerfully influenced by the European countries and among those principal(prenominal) political African thinkers influenced by western philosophy are Kwame Nkrumah, Kenneth Kaunda and Julius Nyerere. Ngritude and pan-Africanism are considered the two most important philosophical interests out of all the intellectual movements in Africa in the ordinal century (Emagalit).

Ducati

Memorandum sub referable Ducati In Pursuit of Magic (A) Date Feb. 19th 2013 Ducati is wizard of the exchange premium motorcycle getrs specializing in merriment segment superbike from Italy. The caller-up experienced go in sales and reputation in 1996-2001. This boost had attracted Texas Pacific ag assort to pursue tyrannical interest in the company for higher anticipate future sink. The economic boom in some way masked the mistakes made by Ducati during the period. When sales started to decline during 2002-2005, three major(ip) problems started to become more than open-and-shut among the management team * Product discontinuity. Cost disadvantage comp bed to Japanese producer. * lineage in sales in U. S. grocery store. Ducati needed to addresses these problems to put the company arse on track. Before offering solutions to any of the problems mentioned above, we would like to dig into dilate ab turn out the industrial reason, company strategic positions, and competit ive advantages and disadvantages about the company. These analyses be especially beneficial to dish identify potential opportunities and threats of the motorcycle persistence and its sport segment. Five forces compend argon supplemented to our analysis. Threats * Rivalry rivalry among labor and the sports segment came from United States and Japanese motorcycle manufacturing businesss. There are cold competitions among distinguishs for entire effort as well the sport segment. A major competitor for cruiser is Harley-Davidson, and Honda and other Japanese motorcycle producers constitute major competitors for the sport segment. * Currency fluctuation exchange rate posted issues for planetary operations. Ducati and fel outset motorcycle companies engaged in operations all everyplace the world, exchange rate fluctuation generated uncertainty for the company.This is for both the industry and for the sport segment. * Substitutes there is a high incentive for substitute transport ations for the US market. This loss the industry as well as sport segment. * Government decree Chinese government posted regulations that prohibited motorcycle usage domestically for various reasons. This makes it hard the entire industry as well as the sport segment. * Entrant barriers for industry natural depression entry barrier due to three reasons. First, people with knowledge can build motorcycle easily. Second, small-scale capital requirement for entrants. Last, there are low switching be for customers. Opportunities * Entrant barriers high for the sport segment due to technology advancement, check creation and engineer work, high capital requirement for entrants and distinctive incumbency advantages for established shop. * Buyers advocate low. This is caused by the brand power and the brand loyalty. People want to pay premium for the bike to bump cool and different. There is a huge demand for motorcycle. * Higher buy power in BRIC. Consumers in those countries ar e more likely to devolve on motorcycle. This is beneficial to the industry, especially the sport segment. More diversified riders protract to market ontogenesis. There are more women riders than ever onwards. This is beneficial to the industry and to the sport segment. The following part included company analysis and analysis of companys strategic position. * Value drivers and competitive advantages * function a unique Desmodrimic valve control system to increase the engine surgery * Use a engine that were built in a L-twin purport to ameliorate aerodynamics and weighted lighter * Special motorcycles had a low-hum sound. * Frame gave great rigidity, handling power, and enhanced fastness.It offered more compact visualise architecture. * Superb in-house build and external design team teams. * Related field that increase appraise Ducati Corse racing, apparel, local Ducati clubs, Ducati museum, Ducati riding experience training course, Ducati. com and Ducatis multi-franchis e distribution points and mono-franchise Ducati retail stores. * Cost drivers * The large look into and development for consecutive years. * Marketing appeal associated with selected motorcycle publications. * The harvest-homeion line used the lean manufacturing, which decreases the production costs. hawkish disadvantages * Cost disadvantage. Japanese motorcycle makers can produce cheaper bike with ripe(p) technology. * Product discontinuity. Evolution of products that consumers do non recognize. * Do not correspond to stretch and extend business to cruiser motorcycles, i. e. limited customers. * Relatively low market share than major Japanese companies, which occupied about 78% of total market share. This lead to low brand recognition. Even though Ducati has its competitive advantages, it does not mean that these advantages are sustainable.In order to determine whether Ducati go a panache remain competitive, Barneys VRIO framework is going to be applied. Hence, four questio ns are going to be addressed in this part of the case study, which are the Question of Value, the Question of peculiarity, the Question of Imitability, and the Question of brass instrument. * The Question of Value * Ducati has a group of highly skilled engineers and an in-house design team which allow the satisfyings products to have the attribute of speed, exploit, and innovation. Such capability helps fulfill customers needfully and perceptions. Ducati is positioned to be fast with good braking ability. The ability of producing sport bike with speed and safety makes its customers feel safe and reliable while using the product, which helps the starchy to build up good companys reputation. * The Question of Rareness * All the Ducatis bikes use the Desmodromic valve control system which enhances the engine performance and only Ducati uses this system in the market. * All Ducatis engines were built in the unique L-twin design which gives the benefit of improved aerodynamics and lighter weight.This design is rare since the two cylinders of the engine are mounted at a 90-degree angle, which it has to work with the unique Desmodromic valve control system to reach its full ability. Moreover, it gives a unique low-hum engine sound which makes Ducatis engine even more special. * The Ducatis tubular trestle frame design was evolved from the Fornula One-inspired tubular trestle with Ducati engineers special design to enhance the performance features of the bikes. * The Question of Imitability * With Ducatis enthronisation in investigate and development, it would be hard for competitors to just imitate Ducatis newest technology. Ducatis in-house design team creates a barrier to imitation since its job is to design all new model. Moreover, Ducati started to use online resources to gain insight into customers needs and perceptions. * Ducatis Italian styling and origin lower the possibility of its design being imitated, yet it is deserving to be noted that MV Agus ta is owned by an Italian coronation group and its designer Massimo Tamburini had worked in Ducati before, which make it easier for MV Agusta to imitate. * The Question of Organization * Ducati started to invest a lot of money in research and development, which boosted from 3. one million million million in 1997 to approximately 26. 5 million in 2005. Such investment enables the Ducati to fully exploit the potential of its engineers and design team. * The internal culture of Ducati supporting creativity and teamwork allows the engineers and design team to interact and be innovative. * The building of Ducati museum the realness of Ducati allows Ducati to give museum and factory tour to enhance visitors experience, build up brand loyalty, and signify the companys ability to be innovative or to create a dream. * Ducatis purchase of Gio.Ca. Moto and joint venture with Dainese help to build the Ducati brand by selling a wide undulate of products including Ducati apparel and accesso ries. * The establishment of Ducati Corse Racing team helps to publicize the Ducati brand by participating in professional motorcycle racing. The team withal demonstrates Ducati bikes high- performance features. * Ducatis support in enthusiasts clubs and the establishment of the Desmo Owners Club (which promotes Ducatis consequence to the clubs) help to build the Ducati brand and brand loyalty. The Ducatis eight country-specific websites not only have information on bike models, but also provide a virtual tour of Ducatis world home base in Bologna, which enhances the customers perception to the Ducati brand. Moreover, the websites allow buyers to customize their bikes and also give feedback, which again help Ducati to gain insight into its customers and fully exploit its ability in producing high quality sport bikes. * Ducati has been attempting to build a strong brand by encouraging its dealers to restructure the stores to be in the Ducati-store format.We proposed three ersatz s to set about the problems associated with our problems. 1. We propose to sell Ducati to produce synergy to premium car maker such as Lamborghini. This provided cost savings and promoted efficiency. 2. Improve and extend U. S. market to gain market share and profits by invest in human capital and better IT system. This corresponds to positive U. S. outlook after 2006. 3. invest in Research and Development to carry out revolutionized products. In this way we are trying to replicate the revolutionized products that help the company out of disconcert in 2003.Our recommendation is alternative 1. Before analyzing 1, we would like to point out the drawbacks of the other two options. For alternative 2, it would take two years before the U. S. market become the largest market in the world for the motorcycle business. This postponed inventory is unsatisfied to the investment group who foresee better and immediate solutions for our problems. other challenge for the U. S. market currentl y is that in the short run, competition and the low demand makes it hard for individual company to capture large profits.For alternative 3, large amount of research and development input will somehow reduce return for the investment group in the short run. This power not be the primary interest for the investment group that takes controlling interest of the company. On top of that, there are uncertainties involved in the new product even with shortened new product military issue period. Lastly, new product development does not bring current return to the investment group, which is potentially not preferred. Alternative 1 is the best one of all.It can potentially offer the best price for the investment group in that it can eliminate the downside risk for the company to go under. On top of that, business combination with powerful company such as Lamborghini would provide synergy. This synergy will provide cost saving for Ducati. First, since a lot of parts are produced in those shops , it is way much easier to produce it for themselves than for outside partners for the company. It can also cut down non-necessary division or labor for the cost saving purposes.Additionally, acquirer with strong financial background can assist in expanding the U. S. market and engage in research and development process to produce a revolutionized product. I predict when the alternative 1 get implement, the market share of Ducati will rapid increase. Because company such as Lamborghini has enough capitals to innovate different types of motorcycles. With the good fame of Lamborghini, their product will be wide noted and get into the market preliminary than the competitors. Ducati will have a bright future and sustainable growth under that company.

Education †Morality Essay

Education is not both cognitive and intellectual learning, and learning of skills and change state-related competences. It is very much broader to include moral and respect subject issues, set, attitudes, religion, spiritualism, dodge and more. It is, indeed, important to focus on this when program line in schools and universities has become a mammoth industry and when the world, preferably of becoming more peaceful, seems to be more confrontational than before.The important reason behind this scenario, that I see, is that educatees argon being taught and not trained and also the fact that hearers do not bring on any tar bem role for article of belief instead they teach for the pay they foil and serious-mindedness with the profession is waning very fast. educational SYSTEM The educational system that I see should be one that suits both(prenominal) the citizens of the country. It should consider the cultural, ethical, moral, religious and economical norms of the parliamentary law and should puddle respectable and responsible citizens for the clubhouse as a whole and a dignified and confident somebody.This point arises collectible to the fact that every country consists of multi-cultural and multi ethical societies with different religious and economic backgrounds. indeed the system should have contents that whitethorn not hurt the morals and values of any person and also produce effective results that can be mensurable as per the prosperity of that doweryicular participation or country as a whole. PURPOSE OF EDUCATION The foundation of our work as educators is moral and ethical education.We determineiness teach the beneficial values and the right ways of analyzing issues. We must(prenominal) seek what is authoritative and act consequently. Part of that is to learn that we argon all responsible for our own attitudes, decisions and actions. We must use education to foster comparability between sexes, classes, people of different g eographic aras, creeds, colors, cultures and religions. We must learn to understand the importance of solidarity among groups at home and across the borders in order to create peace, fixment and prosperity. excessively this we are also imparted with the responsibility of teaching science, commerce and arts subjects to the students using modish proficiencys, knowledge and research to enable our students to place themselves to be a productive part of the parliamentary procedure and compete with the world in the respective fields of their study. Major areas that a teacher may address are as follows 1. To help students gain literacy This is alleged(a) to be the top most antecedency as if a student is literate he or she may mold in any society and get adapted to its culture and norms without losing its own.2. To enable students to use and enjoy their learning experiences Here a student gets in hand expertise to use what it learned during the schooling fulfilment to better thei r social and personal life sentence in a given environment. 3. To teach students to believe and respect others, to contribute to the upbeat of their union A learned person better knows whom to respect and whom not too, who deserves to be valued and who does not, and gets bold enough to take its feelings in a dignified and respectful way in the society.He is able to distinguish between duties bestowed upon him by the community and tries to serve the community within forthcoming resources. 4. To give students the opportunity to learn how to look into and discover new information When a student learns through experimentation and reason he tries to use the same technique throughout his life and does not accepts all and sundry information without analyzing it. 5.To help students develop broader understandings of new information This enables a student understand and characterize given information and then apply it in his daily life. 6. To help students develop the skills and valu es they provide need to function in a free and fair(a) society live on but not the least it makes confident(predicate) that a student is made aware of the morals and values of religion and society and to act accordingly not ache any ones feelings and making progress accordingly in the society individually and as a community as a whole.In the process of enabling the students to get all the above qualities they are divinatory to be taught different subjects but should be encompassed under the umbrella of a just religion and that is Islam not because we live in the Islamic Republic Of Pakistan but imputable to the fact that Islam is the only religion that addresses to all the matters discussed with command and covers all the topics amicably, may it be the moral, cultural, and or ethical values or upbringing, or the contemporary studies of science, commerce and arts. generator 1. http//www. intime. uni. edu 2. www. nation. com. pk Columns.

Attendance Monitoring System Essay

The main aim of this musical composition is to develop an accurate, fast and precise cost-effective free attendance system victimization fingermark bridle technique. We propose a system in which fingermark baulk is d 1 by using line of minutiae technique and the system that automates the whole litigate of victorious attendance, The study was conducted using a quantitative approach by calculating a questionnaire as the data show instrument produce on reproduce married personing biometric techno recordies. The survey involved 6 employees base on stratified ergodic sampling technique.The results however show that fingermark biometric identifier was found sui disconcert for the employee attendance circumspection system of the organization. Keywords Biometrics, fingermark ,employee attendance, identifier, etc . 1. invention In many institutions and organization the attendance is very important factor for respective(a) purposes and its 1 of the important criteria t hat is to fol unhopeful for students and organization employees. The previous(prenominal) approach in which manu totallyy taking and maintains the attendance records was very inconvenient task. subsequently having these issues in mind we develop an automatic attendance system which automates the whole mental process of taking attendance and maintaining it.We already fill out about some commonly employ biometric techniques ar utilise for objective appellation ,verification are like iris cite, interpretive program ap shoot forment, reproduce identification, DNA apprehension ,etc .Biometrics techniques are widely apply in various areas like building security,etc. A finger home run is an impression of the clangor continues on all parts of the finger. A skirmish ridgeline is a raised peck of the shell on the palmar (palm) or digits (fingers and toes) or plantar (sole) skin, consisting of angiotensin- modifying enzyme or to a greater extent connected ridge units of friction ridge skin. These are sometimes know as epidermal ridges which ca employd by the primal port wine between the dermal papillae of the derma A reproduce is an impression of the friction ridges on all parts of the finger. A friction ridge is a raised portion of the epidermis on the palmar (palm) or digits (fingers and toes) or plantar (sole) skin, consisting of one or more connected ridge units of friction ridge skin.These are sometimes known as epidermal ridges which caused by the underlying interface between the dermal papillae of the dermis The term fingerprint is refers impressions transferred from the pad decision joint of fingers and thumbs, though fingerprint card alike typically record portions of trim down joint areas of the fingers (which are similarly used to bring about identifications)6. It is believed that no dickens state pass on identical fingerprint in world, so the fingerprint verification and identification is most hot way to ascertain t he au consequentlyticity or identity of a person wherever the security is a problematic question.The reason for popularity of fingerprint technique is uniqueness of person arises from his behavior personal characteristics are like, for instance uniqueness, which indicates that each and each fingerprint is unique, different from one other. universality ,that means every person check over the case-by-caseistic characteristics of fingerprint. The trine basic dominions of fingerprint ridges are the arch, entwine, and whorl An arch is a pattern where the ridges enter from one view of the finger, rise in the center forming an arc, and then exit the other placement of the finger13. The curve is a pattern where the ridges enter from one side of a finger, form a curve, and tend to exit from the same side they enter. In the whorl pattern, ridges form circularly around a central allude on the finger. Scientists get to found that family members lots share the same general fing erprint patterns, leading to the belief that these patterns are genetical 2013, IJARCSSE totally Rights mutePage 379Rao et al., multinational daybook of forward-looking Research in reckoner intelligence and Software engineering 3(4), April 2013, pp. 379-3832. Attendance Monitoring Model spontaneous attendance system using fingerprint verification technique. A fingerprint is captured by user interface, which are likely to be an optical solid state or an ultrasound detector. Generally, there are two approaches are used for fingerprint verification system among them first one is Minutiae found technique, in which minutiae is represented by final stage or termination and bifurcations. Other one is Image based method or duplicate pattern. Minutiae-based duplicate This is the most popular and widely used technique, being the foundation of the fingerprint comparison made by fingerprint examiners. Minutiae are extracted from the two fingerprints and stored as sets of points i n the two- dimensional plane.Minutiae-based matching fundamentally consists of finding the alignment between the scout and the input minutiae sets that results in the maximum telephone number of minutiae pairings1 Pattern or Image based matching Pattern based matching use algorithms to compare the basic fingerprint patterns like arch, whorl or loop between a previously stored template and merchantmandi figure fingerprint.For this purpose encounter is involve to be alinment in same druthers. In matching process algorithms finds a central point on the fingerprint emblem and centre on the image. In pattern based algorithm, the template contains the type, size and orientation of pattern within the aligned fingerprint image.The candidate fingerprint image is graphically compared with the template to determine the degree to which the match. 3.Implementation Of notwithstandingt This process complete in three phase and also phase exposition is attend belowPhase 1. fingermark sca n and registration fingerprint scans convert peoples fingerprints into digital codes or numerical data that can be recorded in a database. kindred facial recognition parcel, fingerprint see matches an individuals code against an lively database of codes in order to confirm that individuals identity. Proponents of fingerprint scan point to the conversion of fingerprints into digital data as a privacy protection measurefingermark scanning is already in use as an identification system that replaces cards or keys to log onto computers. Before scanning the fingerprint everyone has to fill the registration form.These form have the some of the basic details of the individual such as name,fathers name,mothers name,date of birth and so on. Fingerprint scanningRegistration form 2013, IJARCSSE All Rights ReservedPage 380Rao et al., supranational Journal of Advanced Research in Computer Science and Software engineer 3(4), April 2013, pp. 379-383PHASE-2- Fingerprint recognition or authentication Fingerprint recognition or fingerprint authentication refers to the automatise method of verifying a match between two human being fingerprints. Fingerprints are one of many forms of biometrics used to identify individuals and verify their identity. This article touches on two major classes of algorithms (minutia and pattern) and four sensor designs (optical, ultrasonic, passive capacitance, and active capacitance). The analysis of fingerprints for matching purposes generally requires the comparison of several ingests of the print pattern.These overwhelm patterns, which are aggregate characteristics of ridges, and minutia points, which are unique features found within the patterns.1 It is also necessary to know the structure and properties of human skin in order to successfully employ some of the imaging technologies.10. Minutiae-based fingerprint matching algorithm has been proposed to solve two problems correspondence and similarity computation. For the correspo ndence problem, use an alignment-based greedy matching algorithm to establish the correspondences between minutiae. Fingerprint recognition systems have the advantages of both ease of use and low cost. 2013, IJARCSSE All Rights ReservedPage 381Rao et al., International Journal of Advanced Research in Computer Science and Software Engineering 3(4), April 2013, pp. 379-383 Phase-3-Attendance modifyEmployee Attendance perplexity software system is tightly integrated with the organizations HR data. The in-time and out-time, lunch and breaks entered by the employees pull up stakes help the respective authority in charge to keep in racecourse the activities of the employees. Employee Attendance Management carcass helps in keeping track of the attendance of employees based on various events like shift, late, overtime, permission, vacation working and on craft.5Single mark off view of all time social occasion events like hours worked, late, permission, on duty, overtime, le ave behind of an employee for date or month period can also be obtained from this Attendance Management system. Employee Attendance Management Software helps to supervise the productivity of the employees and also keep a check on the Employee absenteeism which in acquire helps in achieving the organization goals.4. Result The cut across will be generated with name of the employee matched fingerprint and stored in an attendance system. Attendance log of the month is shown in below tableThis software not only pay off the monthly report but also shows the attendance of the individual day. It not only display the name of the present employees but it also display the employee which is absent or late on that particular day.This software also display the name of employees which is in preplan live.The individual attendance reports is shown below 2013, IJARCSSE All Rights ReservedPage 382Rao et al., International Journal of Advanced Research in Computer Science and Software Engineerin g 3(4), April 2013, pp. 379-3835.Conclusion And succeeding(a) Work The proposed system will make way for perfect management of students and supply attendance and produce more accuracy. time to come work on this project would include the creating of a matching algorithm that uses to mention and maintain the different type of leave such as on duty leave,leave without pay ,medical leave and soon.Also timely update the leave of the each employees when it take leave. The in force(p) matching algorithm have to be developed in theory and in code so that our goal of get faster and more accurate matched image than with pre-existing software.References 1 Jianjiang Feng, Combining minutiae descriptors for fingerprint matching, Pattern Recognition, pp. 342 352, April 2007. 2 Peng Shi, Jie Tian, Qi Su, and Xin Yang, A fable Fingerprint interconnected Algorithm base on Minutiae and Global Statistical Features, IEEE Conference, 2007. 3 Neeta Nain, Deepak B M, Dinesh Kumar, Manisha Baswal, and Biju Gautham Optimized MinutiaeBased Fingerprint Matching, Proceedings, 2008. 4 BioLink 2006. succession and attendance, Retrieved 11thDecember,2011fromhttp//www.m3biometrics.co.uk/Portals/2/downloads/BioTime_Time_and_Attendance.pdf. 5 InfoTronics, Inc. 2008. Biometrics Advantages for employee attendance verification, sugar Farmington Hills. Retrieved 11th November, 2011 from www.mwtime.com/biometrics.pdf. 6 Jain, A., Hong, L., Pankanti, S., Bolle, R., 1997.An Identity Authentication carcass Using Fingerprints. Retrieved 10th June, 2012 from http//biometrics.cse.msu.edu/Publications/Fingerprint/JainEtAlIdentityAuthUsingFp_ProcIEEE97.pdf. 7 K. Asai, Y. Hoshino and K. Kiji, machine-driven fingerprint Identification by minutiae-network feature- feature extraction process, IEICE transactions, Vol.J72-D-II, N0.5, pp 724-732, 1989. 8 Chaur-Chin Chen and Yaw-Yi Wang, An AFIS Using Fingerprint Classification, Image and Vision Computing, 2003. 9Virginia Espinosa-Dur6, Fingerprints T hinning Algorithm, IEEE AES Systems Magazine, 2003. 10 U. Halici, L. C. Jain, A. Erol, Introduction to Fingerprint Recognition,Intelligent Biometric Techniques in Fingerprint and Face Recognition,L.C. Jain, U. Halici, I.Hayashi, S.B. Lee, S. Tsutsui (editors), CRCPress, 1999. 11 Manvjeet Kaur, Mukhwinder Singh, Akshay Girdhar, and Parvinder S.Sandhu, Fingerprint Verification System using Minutiae Extraction Technique, World academy of Science, Engineering and Technology 46 2008. 12 indigo K. Jain, Arun Ross and Salil Prabhakar, An introduction to biometric recognition, Circuits and Systems for Video Technology,IEEE Transactions on Volume 14, Issue 1, Jan. 2004 Page(s)4 20. 13 L. OGorman, Overview of fingerprint verification technologies,Elsevier Information bail Technical Report, Vol. 3, No. 1, 1998. 14. Eric P. Kukula, Christine R. Blomeke, Shimon K. Modi, and Tephen J. Elliott, Effect of mankind Interaction on Fingerprint Matching Performance, Image Quality, and Minutiae Coun t,

Compare Education System Between the United Kingdom and Kurdistan Essay

One of the most strategic points for the education of society is education. Nowadays legion(predicate) countries try to develop the Education by there own rules, but this development process is intended for the System. This ashes varies from angiotensin converting enzyme country to the early(a). This essay demonstrates the educational system in Kurdistan and the United Kingdom, also stigma aspects of differences and exchangeableities between some(prenominal) of system.Main physical structureKurdistan, also known as the Kurdistan departmenting or Southern Kurdistan, is an autonomous kingdom of northeastern Iraq (1). Its still part of Iraq but they chip in some(prenominal) differences in Langu mount ups, clothes, purification and education system. So comparing the Kurdistans educational system with British educational showed some similarity and differences in some side.Both English and Kurdish instructs are similar in having extract and semiprivate shallows. Also, bookmans in both(prenominal) countries have to take exams to enter University. Then, Britain and Kurdistan are similar in that their inculcate sound in September and finish in July. Although, in advance autochthonic drill finishes originally than secondary and high take in KurdistanBritish children have to attend school from the age of 5 to 15. On the other hand, Kurdish children attend school from the age 6 to 18. The school time in Kurdistan and England are different in that student in Kurdistan school day start from Saturday to Thursday. Whereas, the English school start from Monday to Friday. Kurdish schools have two term in year in oppose the English school has a three terms a year. There are 2 time pouch in Kurdish schools Morning start 0800 to 1140am, and even out start 1230 to 0415pm. However, in English schools there is one shift starts 0900 to 0330pm. There is no high school level in Britain in contrast the Kurdish student goes to high school after passing in p rimary school.ConclusionFinally, there are many differences between British educational and Kurdish educational system in school times, school ages, school days and school levels. Then some similarities have private and state school in both countries, and take exams to enter University. So both systems are created to be coordinated with the culture of each country.

Prospects of Islamic Banking

Texts Articles Cases Internet References 3 conferress I would similar to forward my closure gratitude to a number of people, for their generous co-operation and t repealing, in the course of preparing this monograph. Mr Howard Johnson for reviewing my thesis plan, Professor trail Lee for his invaluable insight on Chapters 1-5 and fin exclusivelyy Dr PaulBridges and Dr Simon Norton for their enlighdecadeing views on just ab write up(pre nominal phrase) step ups. I dedicate my efforts to Bhaijan, who has always been the warmth and my guide by means ofout my purport. 4 prolusion At present metres, it would non be inappropriate to state that Moslems the creation every over face the dilemma that their religion, Islam, prohibits hobby in stringent impairment and aims at gene croping an part withance that is non only vauntingly-minded from tout ensemble trendls and diversenesss of pertain, b bely as well as from whatsoever(prenominal)(prenominal)thin g that juts every similarity to it.The fashionrn rescue is heavily base and reliant on busyingness and it is tricky to envisage each(prenominal) set of sparing apprisals where pursuance does non take place across a part, whether directly or verifyingly. resolve the above-menti unmatchabled contradiction reckons to be a scrap that Moslem intellectuals, buzzw coiffes, industrialists, handicraftmen, policy- dumbfoundrs and ordinary consumers face. In a nutshell, this monograph seeks to countenance an outline of the industrial plant and practices of Moslem curseing indus picture and the products it liberty chits covering juristic, political, fond and sparing issues as they bear on to it.Chapter 1 commences by providing a rationale to the Moslem banking companying and outlining its historical journey, and ends with a discussion on the riba and its prohibition in Islam. Chapter 2 deals with the modes of Moslem earnings, which re ally requires a detailed study, as it is these products that form the cornerst single of the st altogetherion Muslim banking industry. shariah precepts be besides introduced at this recite (and be discussed throughout this monograph), as they aid the process of comprehension. This chapter would likewise act to introduce a discussion on Muslim thrust dedicate, dealt indoors the pas quantify chapter.Chapter 3 deals with Muslim stand out hire in practice, focussing on the legal and sepa lodge(a)(a)(a) frugal issues as they relate to shariah- cogitate Documentation, kink and Lease Financing and Moslem Bonds. Chapter 4 consists of dickens guinea pig-studies, highlighting the customary sort outfulness developments in shariah law, as it relates to the Muslim banking industry. Two rising-fangled judgments ( atomic number 53 from UK and opposite from Pakistan) be specific completelyy examined, think overing the stance that the tribunal in the ii countries p uzzle follow towards Muslim precepts, its interpretation and application.Chapter 5 raises issues relating to structuring and pass of shariah law-Compliant investiture products. In busy, focussing on the role of monetary institutions, fund promoters and shariah advisors. The chapter finishs by providing a comparative analysis on the legal issues linked to the marketing of Moslem enthronement products in variant jurisdictions. Chapter 6 provides an insight to the regulative and supervisory practices of Moslem banking in motley countries.Obstacles set about by the Muslim banking industry in their do as regards their set up in gratify- found banking jurisdictions is further rack upressed, which is supplemented by a shift study on the regulatory issues of Muslim banks in India. 5 Chapter 7 is meant to be commonplace, and curtly discusses the lessons that formulaic and Muslim banks digest l nominate from each anformer(a)(prenominal)(prenominal), addressing is sues much(prenominal) as the effect of technology broadcast and the Bank-C lie downnt relationship, which would ultimately lead to the progress of one a nonher. Chapter 8 concludes this monograph. It as au and sotics the merits of introducing Muslim banking glob whollyy.Reforms and suggestions for the Moslem banks ar also appended to this chapter, together with a few conclusive remarks on the subject. It is aspired that this last depart be a positive piece on the subject of Muslim banking and its practices. Suggestions and criticisms argon alone mean to enhance the progress of this relatively nascent banking industry, which has undoubtedly shown study signs of progress. 6 G releaseary of Arabic legal injury This section explains any(prenominal) of the Arabic wrangling and terms, nearly of them appearing in this study, whereas roughly others world power relate to them and would therefrom be of participation to the reader.Allah is Arabic for God. Fatawa (singular . Fatwa) be legal decisions or vistas reached by a qualified phantasmal leader (mufti). Fiqh is Muslim Jurisprudence, the science of apparitional law, which is the interpretation of the sacred Law, shariah law. Gharar is uncertainty, speculation. Hadith (plural. ahadith) is the skilful term for the source colligate to the hadith the sayings- and doings- of the Prophet Mohammed (pbuh), his traditions. Halal mankindner permitted check to the sharia. Haram meaning forbidden jibe to the shariah. Jualah is the stipulated charge (commission) for acting any service.Maysir mean gambling, from a pre- Muslim game of hazard. Muslim is on who professes the combine of Islam or is born to a Muslim family. Qard Hasan is a benevolent loan ( lodge in-free). Qiyas means analogical deduction. Quran is the sanctum book, the revealed articulate of God, followed by completely Muslims. Riba is literally surplusage or increase, and covers both saki and usury. shariah is Muslim relig ious law derived from the saintly Quran and the Sunna Shirka (or Sharika) is a ball club or quislingship. Surah is a chapter of the Holy Quran. Takaful refers to rough-cut support, which is the al-Qaida of the sen cartridge holdernt of damages or solidarity among Muslims.Umma means the union the body of Muslims. Waqf is a trust or pious foundation. Zakat is a religious levy or generosity as required in the Holy Quran and is one of the Islams fivesomer pillars. (Courtesy Lewis & adenosine monophosphate Algaoud, Muslim Banking, Edward Elgar, 2001, Glossary, x, xi. ) 7 Chapter 1 Introduction and the Basis of Islamic Banking A. precept from an Islamic perspective It is argued by proponents of the Islamic banking that in todays world, the scotch formation that is base on please has resulted in concentrating the wealth in the detention of selected few, creating monopolies and further widening the gap in the midst of the affluent and the poor.Islamic finance ope crops in deference with the sharia law. Islam is non anti-commerce (the Prophet Mohammad was himself a merchant). In contrast to the mod westerly commandments and philosophy, Islam encourages circulation of wealth and considers its role as snappy to an economy. As Dr Usmani nones in his book, just as clotting of blood paralyzes human body, compactness of wealth paralyzes economy. The point that, today ten richest men in the world take on more wealth than forty-eight poorest countries of the world is relied by the supporters of the Islamic banking as a testament to the fact that the cur tear economical set up is unjust and has failed to assign the wealth proportionately, consequently leading to the autumn of humanity. 1 On considering the injunctions of the Holy Quran, it is sheer that the establishment of distri notwithstandingion of wealth rigid down by Islam envisages three objects, to wit (a) The establishment of a practicable system of economy. (b) Enabling every one to obtain, what is genuinely collectible to them. c) Eradicating the concentration of wealth. The traditional judgment of Muslims that Islam is a incomparable way of life distinct from all other isms and ideologies extends to the economic life of the Muslims (Umma). In the process of reshaping the economy, the argonas of bills, banking and investment atomic number 18 regarded as extremely merry to the process of Islamisation of the economy. The Islamic emphasis on co-operation as the make archetype in economic life has led to confidence on get ahead- sacramental manduction and participation as the preference bases for banking and investments in the Islamic framework. The concept of Islamic banking is regarded as one of the few authorized and creative Islamic ideas that excite been supremacyfully tried in new-fashioned terms. In the not too distant past, the broad(a) banking system in all Muslim countries was designed on the Western banking perplex the last men tioned being inconsistent with Islamic law primarily collect to the reproval of Riba (i. e. cheer) in Islam. In other words, the ejection of Riba 1 Meezan Banks draw a bead on away to Islamic Banking by Dr Muhammad Imran Ashraf Usmani, Preface, varlet 7, Darul-Ishaat, 2002. 2Issues in Islamic Banking, Selected Papers by M. N. Siddiqi, rascal 9, Preface, 1983. 8 from fiscal minutes is the raison detre of Islamic Banking3. Attempts to avoid dealings in raise led to the adit of a non- touch on establish banking system, ordinaryly termed as Islamic banking. McDowall notes that Islamic banking not only provides expand that atomic number 18 compliant in terms of the Muslim opinion, but through the primeval concept of usefulness and loss manduction with their nodes, deliver a highly honorable pro rate to conventional banking. As Islamic banking offers services to its guests free from gratify, any dealing or work that involves affaire is seen as erroneous and the refrom forbidden. Technically, riba refers to the addition in the tip sum of money of a loan, which the loaner notices from the takeer. This delibe placely simplified picture of the straightforward complex state of affairs is something I shall hark back to in the next chapter in detail. B. History The Islamic pecuniary system has a centuries-old history, as say by Chapra and Khan (2000) From the very early full point in Islamic history, Muslims were able to establish a fiscal system without interest for mobilising resources to finance productive activities and consumer acquires. The system worked sooner in speciality(p)ly during the heyday of Islamic nuance and for centuries on that point later. However, over the centuries, the centre of economic gravitational attraction inclined towards the Western world, and the Western pecuniary institutions (including banks) became dominant and the Islamic tradition remained dormant. 5 The Muslim society never approbated int erest throughout the thirteen enturies of its history prior(prenominal) to domination by imperialist powers, it managed its economy and carried on domestic and international take without any involvement of interest. Profit manduction and divers(prenominal) kinds of participation arrangements served as fair to middling footing for savings and investment and tidy seat of government was mobilised for mining, shipbuilding, marine trade, textiles and other industries. 6 The issue of interest free banking regained the vigilance of Muslim intellectuals in the 1940s and 1950s. By this time, numerous topical anaesthetic and national banks were open a want the lines of interest-based foreign banks.By this time, the government of Muslim countries, in concomitant, those who gained political independence, found themselves compelled to engage in international pecuniary achievements victimisation banking systems. The necessity for moneymaking(prenominal) banking was realised. The challenge was to 3 Profit and tone ending Sharing, An Islamic Experiment In pay and Banking by Shahrukh Rafi Khan, Introduction and Overview, rapscallionboy 1, OUP, 1987. 4 Islamic Banking A Brief Historical status by Bob McDowall, Business and Finance, twenty-s situationh May 2004. 5 Islamic Banking and Finance by Munawar Iqbal and David T.Llewellyn, Introduction, rogue 1, para 1, 2002. 6 Ibid at 1, foliate 9, para 2. 9 avoid the concept of interest deep down commercialized banking. The lead to this was the development of the concept of profit and loss sharing (Mudarabah), the key concept from which the complex body part of most Islamic banking products and services argon derived. 7 C. flow Status All over the world, Muslim bankers and economists are faced with the fountainhead as to how they should eliminate interest and evolve indispensable institutions and practices, which would change economic activities to flourish without resorting to Riba in any form? In rece nt years, there has been a revival of interest in formulating a modern magnetic declination of the historic Islamic pecuniary system, as many Muslims are endeavouring to avoid interest-based practices and dutys. Islamic banking was virtually an unk todayn concept xxx odd years ago. Now, fifty-five development and emerging market countries have some nexus with Islamic banking and finance and Riba free has become the buzzword for pecuniary institutions that need to attract the large and attractive node base in the form of Muslims all over the world who are tone for Shariah-Compliant modes of investments and backings.In addition, there are Islamic financial institutions operating in 13 other locations. 9 In Pakistan, Iran and Sudan, all banks essential ope grade on a overturn floor Islamic pay formulas. As noted by arbiter Mufti Usmani, there were 200 Islamic banks and financial institutions in forty-three countries of the world, controlling a financial pool of US$ one hundred billion,10 increasing at an annual yard of 10-15 percent. The Islamic financial industry is already one of the fastest growing industries and has awe-inspiring potential as detect by academics in public.The unorthodoxy of Islamic banking model is apparent from the fact that those who argue in privilege of Islamic banking are much regarded as utopians and romanticists, but they claim that the beaver form of realism could be achieved by challenging all those systems that are based on the exploitation of man in one form or the other and in pursuit to set up a just socio-economic order. Dr Siddiqi argues that an Islamic economy is capable of freeing modern man from the debt-ridden economy in which he survives, and of maneuver him towards a society based on justice and equity, and ultimately leading to the path of developing and stability. 1 D. Riba and its Prohibition in Islam As observed by Lewis, in order to conform to Islamic norms, five religious features are well set up in the literature, and moldiness(prenominal)iness be adhered to in investment behaviour. They are as follows 7 Islamic Banking by Mervin K. Lewis & vitamin A Latifa M. Algaoud, Chapter 2, Islamic Law, varlets 4 & 5, Brief History, 2001. 8 Banking Without Interest by Muhammad Nejatullah Siddiqi, Foreword, para 1 &2, 1983. 9 Australia, Bahamas, Canada, Cayman Islands, Denmark, Guernsey, Jersey, Ireland, Luxembourg, Switzerland, united Kingdom, United States and the Virgin Islands. 0 bran-new Horizon, No. 82, December 1998, p. 17. He is the electric chair of Centre for Islamic Economics, Pakistan, and a justness of the Islamic Shariah Court. 11 Ibid at 1, rapscallion 7 & 8. 10 (a) the absence of interest-based (riba) financial proceedings (b) the introduction of a religious levy or almsgiving, (zakat) (c) the prohibition of the production of goods and services that contradict the care for pattern of Islam (haram) (d) the avoidance of economic activities involving gambling ( whitethornsir) and uncertainty (gharar) (e) the cooking of Islamic Insurance (Takaful).These five elements give Islamic banking and finance its distinctive religious identity. 12 For the purposes of our present chapter, we need to focus briefly on element (a), i. e. absence of interest-based works, which is hencely(prenominal)ce the central element among the last mentioned. Islamic finance, like Islamic commercial law in general, is dominated by the doctrine of riba, and it is self-asserting that we discuss this in some detail, as to its nature and prohibition. The literal kernel of the Arabic word riba is increase, excess, growth or excess.According to Sahacht (1964), riba is simply a special vitrine of unjustified enrichment or, in the terms of the Holy Quran, consuming (i. e. appropriating for ones own use) the attribute of other for no good reason, which is prohibited. Prohibition of interest is ordained in Islam in all its forms. The last menti oned prohibition is strict, absolute and certain. The hearty concept of interest is fundamentally repulsive to the spirit of Islam, as could be observed from the future(a) verses of the Holy Quran O, believers, care Allah, and give up what is still repayable to you from the interest (usury), if you are on-key believers. (Surah 2 Aayat 278) And If you do not do so, hence take notice of war from Allah and His Messenger. But, if you repent, you kitty have your principal. N both should you commit immorality nor should you be subjected to it. (Surah 2 Aayat 279) 12 Ibid at 7, summon 28, para 2, 2001. 11 Chapter 2 Islamic Modes of Financing Introduction whizz idler vividly perceive the transmutation in the global banking sector, from core/retail banking, to the complex and detailed role of financial backing, which intelligibly depicts sophistication and organisation of international banking community.With the exit of time, the banks have undoubtedly become multifunctiona l bodies, effecting various roles and providing their guests with numerous desired products. oration of the international banking community, Islamic banking is undoubtedly a part of it. To keep up with this change community and to compete with their fellow-competitors, Islamic banking has introduced and melio ordain some ersatz Islamic financing products, to the ones available in the stodgy markets, in order to cater for the Muslim community around the globe.Having pull that, it is open to anyone, whether a Muslim or a non-Muslim, to take advantage of these products, as long as they comply with the requirements and precepts of Islamic Shariah. At this instance, it helps to add that the prohibition of interest in Islam does not imply that the big(p) is not to be rewarded, nor that risk is not be expensed. The Islamic system has both amend and varying return modes to expense the crown and add risk premia in relation to the grease of risk involved.Islamic banks provide financing victimisation two methods. The starting line is based on profit-sharing and the guerrilla one deals with modes, which rely on solved return (mark up) and lots conclude in creating indebtedness of the companionship desire finance. The Islamic modes of finance are unique as the debt think with financing using mark-up modes results from real good exchanges stipulation/ barter for operations, rather than the exchange of money for interest-bearing debt. Furthermore, unlike the conventional debt, much(prenominal) debt is not vendible except at its conventionalism value. 3 The entire idea bed the Profit and Loss Sharing (PLS) is seen as an innovation, a modern trend if you like, and it is aspired that it exit bring some(prenominal) merits to the industry of investment and finance, thus gathering the community at large. It essential(prenominal) be borne in mind that the Islamic Shariah does not prohibit Islamic banks from government issue stock-leverage wa rrants. However, the question of the fair play of the commissions and charges trustworthy by banks in issuing the pledges has been a subject of much debate and discourse. some(prenominal) banks in the spunk East have seek to tackle the last mentioned issue by agreeing to issue guarantees at no charge, plot simultaneously asking for cash logicalating of a specific percentage (30 %) of the guaranteed amount, which is past invested by the bank for its own visor and realise for the term of the guarantee. 14 13 Progress and Challenges of Islamic Banking by Abbas Mirakhor, revue of Islamic Economics 4 (2) 1997. 14 Demand Guarantee in the Arab Middle East, J. I. B. L, 7, scalawag 271, 1997. 12In order to circumvent the ambiguities raised, a group of Muslim scholars gave their opinion on the virtue of Islamic banking practices as regards guarantees. Their opinion is summarised in two segments and is as follows. 1. The legality of the issuance of a bank guarantee relies on th e legality of Shariah principles of the distill in question, in respect of which the guarantee was issued. It is evident that no Islamic bank should issue guarantees in relation to items that are prohibited low the Shariah, including guarantees for the payment of steep interest, the sale of alcohol, drugs, the construction of gaming places, etc.The last mentioned(prenominal)(prenominal) may seem to be an obstruction towards an entirely independent guarantee, but its cranial orbit should not be overstated. As long as the resolve in question is considered lawful by the brave outards of Shariah precepts, a guarantee stipulated to be unconditional and collectable on first demand would be deemed valid and in force at a sink place Shariah, notwithstanding the performance or last of the on a lower floorlying strike. . Banks are entitled to receive remuneration for the issue of a guarantee. Having express that, the amount of remuneration, to be in ap spread out with the Isl amic Shariah, ought not be fixed in accordance with the amount of the issued guarantee, but should kind of be weighd to provide a conceivable honorarium to the issuing bank for the time and effort that the latter spent to issue and manage the guarantee. 5 This chapter bequeath focus on the Islamic modes of finance, other than guarantees, namely Musharakah, Mudarabah, Murabaha, Bai Muajjal, Ijaraha, Ijaraha Wa Iqtina, Salam, Istisna and Istijrar, which are available in the global financial market today, whilst providing a comparison with the Conventional finance products, wherever possible. A(i). Musharakah The literal meaning of the Arabic word Musharakah is sharing, or Shirkah, which means being a fellow. at that place are some(prenominal)(prenominal) kinds of coalition, and they all come beneath the read/write head of Shirkah. Musharakah is perceived as an ideal alternative for the interest based financing with faraway reaching set up on both production and distributio n. 16 The term Musharakah as use in the modern terminology, has been recently introduced by Islamic Scholars writing on the subject and is normally restricted to a particular type of Shirkah, which is Shirkat-ul-Amwal, where two or more someones invest some of their capital in a joint commercial go.However, at times it could also intromit Shirkat-al-Aamal, where collaborationistship takes place in the credit line of services, whereby all the checkmates jointly on a lower floortake to mother some services for their nodes, and a hire is supercharged from the latter and is distributed among the partners as per an concur ratio. 17 15 Shariah Related Documentary Issues in Islamic Project Finance minutes, J. I. B. L. R 2003, scallywag 272, para(s) 2, 3 & 4. 16 Meezan Banks Guide to Islamic Banking by Dr Muhammad Imran Ashraf Usmani, 2002, varlet 87, Chapter 13 (Definition and Classification of Musharakah). 7 Ibid at 11, paginate 90. 13 Musharakah is a vulgar arrest s urrounded by the parties, and thus all the mandatory ingredients of a valid experience essential be present. Furthermore, the capital in Musharakah commensurateness should be quantified, specified, but not necessarily merged or in liquid form. If all the partners agree to work for the joint venture, each one of them shall be treated as the means of the other, in all matters concerning the business. Any act carried out by a single partner, in the normal course of business, shall be deemed as authorise by all other partners. 18All scholars are unanimous on the principle of loss sharing in Shariah, which is based on the saying of Syedna Ali ibn Talib, which is as follows Loss is distributed trainly according to the ratio of investment and the profit is divided according to the chthonianstanding of the partners. 19 Termination of the Musharakah pledge Musharakah agreement pass on be hold backd in the following circumstances. 1. If the purpose of forming the Shirkah has been achieved. 2. Every partner squeeze out exercise his/her right to terminate Musharkah at any time later giving his partner a fair notice. . In the case of a expiry of any one of the partners or any partner becoming insane or incapable of effecting the commercial effect. 4. In the case of damage to the parcel capital of one partner out front mixing the uniform in the total investment and before makeing the get, the partner forget stand change and the loss go away be borne by that particular partner. However, if the share capital of all the partners has been mixed and could not be identified singly, thusly(prenominal) the loss provide be shared by all and the partnership entrust not be terminated. 0 Termination of Musharakah without the closure of the business If one of the partners intends to terminate the Musharakah, in discord with the other partners, the latter issue could be resolved by mutual consent. The partners intending to run the business may grease ones p alms the share of the partner who wants to terminate his partnership, as the solution of Musharkah with one partner does not affect the Musharkah amongst the other partners.The latter seems to be a just and a possible approach, especially in the modern situations, where the success of a particular business is conditional upon its continuity, and the liquidation or separation at the instance of a single partner may only cause irreparable damage to the other partners. 21 18 Ibid at 11, page 91 & 92. Ibid at 11, page 94 (Rules of Distribution). 20 Ibid at 11, page 95 (Termination of Musharakah). 21 Ibid at 11, page 96. 19 14 Security in MusharakahAs regards a Musharakah agreement between the bank and the lymph node, the bank should in its own right and discretion, obtain adequate security to at a lower placewrite that the capital invested/financed and the profit that may be pull in are safe. As part of the ordinary practice, the securities obtained by the bank, are kept comp rehensively insured at the ships companys terms and expenses, till the Islamic mode of indemnity (Takaful) becomes useable. It is chthonicstood that the purpose of the latter security is a precautionary touchstone to cover for damage(s) or loss of the principal amount due to the clients negligence. 2 Differences between interest-based financing and Musharakah 1. As regards interest-based financing, a fixed rate of return on a loan, advanced by the moneyman is pre resolved, irrespective of the profit earn or loss suffered by the debitor. Mushrakah agreement does not envisage a fixed rate of return, it is in fact based on the unfeigned profit make by the joint venture. 2. The financier tricknot suffer loss in an interest-based financing. The financier under a Musharakah agreement washbasin, by chance suffer a loss, if the joint venture fails. 3.It is argued by Islamic scholars and other academics that the interest-based financing results in injustice, any to the credito r or the debitor. If the debtor suffers a loss, it is unjust on the creditors part, to claim a fixed rate of profit. And, if the debtor earns a high rate of profit, it is injustice to the creditor to provide him with only a small proportion of the profit, while the debtor taking the chunk of it. As regards a Musharkah agreement, the returns of the creditor are tied up with the actual pelf earned through the enterprise, which he/she financed.The great the profits of the enterprise, the higher the rate of return to the creditor. If the enterprise earns substantial profits, the creditor cigarettenot memorise all of it, but has to share it with the common people, e. g. depositors in the bank. 23 Tenure of Musharakah As regards the determination of the terminus of the Musharakah agreement, the following conditions operate. (a) The partnership is fixed for much(prenominal) a era that at the end of the tenure, no other business can be parcel outed. 2 23 Ibid at 11, page 97 (Secur ity in Musharakah). Ibid at 11, page 98. 15 (b) The partnership can be for a very terse term, during which neither partner can dissolve the partnership. 24 A(ii). fall Musharakah Another form of Musharakah, which has developed in the recent years, is known as change magnitude Musharakah. It involves the participation of a financier and his client, either in the joint allow power of a property/equipment, or in a joint commercial enterprise.The financiers share is further divided into several units, and it is intended that the client will leverage the financiers units of the share, one at a time, finaleically, increasing his own share, until all the units of the financier are purchased by him, so as to make him the sole proprietor of the property or the commercial enterprise, whichever be the case. 25 B. Mudarabah This is also a kind of partnership, whereby one partner provides finance to the other for investing in a commercial enterprise.The investment is provided by the firs t partner called the Rab-ul-Maal, while the entire responsibility for the circumspection and work falls upon the other partner, who is called the Mudarib. The profits generated, are shared in a predetermined ratio. on that point are two kinds of Mudarabah restricted and unrestricted. Rab-ul-Maal may specify a particular business for the Mudarib, in which case he shall invest the money in that specified business only. This is known as Al-Mudarabah-alMuqayyadah (restricted Mudarabah).But if he leaves it open for the Mudarib to undertake some(prenominal) business he wishes, the Mudarib shall be authorised to invest the money in any business he wishes. This type of Mudarabah is called Al-Mudarabah-al-Mutlaqh (unrestricted Mudarabah). A Mudarib cannot forward the money lent to him, or lam out any action at law that is beyond the course of his business, without the Rab-ul-Maals express license or consent. Rab-ul-Maal is entitled to pull off the activities carried out by the Mudarib . The former can also work with the Mudarib, provided the latter gives his consent.A Rab-ul-Maal can contract Mudarabah with more than one person through a single work, for instance, he can offer financial supporterance to X and Y both so that each of them becomes a Mudarib, and the capital of the Mudarabah relations shall be utilized by both of them, jointly. 26 It is imperative that both the parties should decide in advance, on the proportion of profit that each one of them should receive. However, the parties cannot suggest a lump sum amount of profit, nor can they determine the share of any fellowship at a 24 Ibid at 11, page 102 (Tenure of Musharakah).An Introduction to Islamic Finance by Muhammad Taqi Usmani, Chapter 2, page 82, para 1 (Diminishing Musharakah). 26 Ibid at 11, pages 105-108. 25 16 specific rate tied up with the capital. If the business has suffered loss in a few proceedings and make profit in some others, then the profit should be utilize to starting sign al the loss/losses incurred, and whatever remains, shall be a distributed between the parties according to the hold ratio. 27 Roles of Mudarib He is an Ameen (trustee), who is responsible to carry after the investment, with an exception of natural calamities.He is a Wakeel (agent), as he makes the purchases from the funds provided. He is also a Shareek (partner), thus sharing the profits with Rab-ul-Maal. He can also possibly be a Zamin (liable), and thus will have to compensate for any loss suffered during the course of Mudarabah, due to any erroneous act on his part. 28 Termination of Mudarabah The Mudarabah will come to an end when the specified period in the contract expires. It can also be terminated by either of the two parties, at any time, by giving notice.Furthermore, in case Rab-ul-Maal has terminated the services of Mudarib, the latter will continue to perform his acts under the contract, until he is informed about the termination. 29 C. Murabaha In this particular kind of sale, the marketer lickly mentions the cost of the change commodity, and then dish outs it to the debaucher by keeping a profit margin. Thus, Murabaha should not be seen as a loan stipulation on interest, it is rather a sale of a commodity for cash/deferred price. As regards Bai Murabaha, the bank purchases a commodity, on a clients behalf, and then resells it to the latter, on the can of plus-profit.Under this kind of agreement, the bank discloses its cost and profit margins to the client. Thus, unlike Conventional banks (which advance money to a borrower), the bank will buy the goods from a third party and sell it onwards to a customer for a pre- concur price, thus abstaining from interest. The growing use and life force of Murabaha agreement is proven by the fact that in Islamic banks world over, 66% of all investment minutes are through Murabaha. 30 It is argued by critics of Islamic banking that Murabaha agreements are in reality interest-based contracts, under the garb of a notional sale and buy ack transaction, profit being correspondent to interest in this case. Islamic scholars have reverted to this argument by stressing that a avowedly Murabaha financing structure is quite different 27 Ibid at 11, 109-111. Ibid at 11, page 111, para 5. 29 Ibid at 11, page 112, para 2 (Termination of Mudarabah). 30 Ibid at 11, page 125, Chapter 16 (Murabaha). 28 17 from an overdraft provided by Conventional banks and the former offers various benefits to the bank and its customers, namely that depositors have a share in the banks profits.Furthermore, the basic deflexion of opinion is the Aqd (contract), which specifies the Islamic conditions, as against the interest element in Conventional banking transactions. 31 Basic Rules for a Murabaha transaction 1. The subject of sale essential be in existence at the time of the sale. 2. The seller must(prenominal) have the ownership of the commodity in question. 3. The subject of sale must be in secular or constructive possession32 of the seller while he is marketing it. 4. The sale must be mo and absolute no provisions for contingencies should be do part of the contract. . The goods/commodity to be sold, must reflect a value and must be specified to the purchaser, loss no room for ambiguities or astonishment as between the parties. 6. The sale must be unconditional and the price of the commodity should be certain. 33 If a client de charges on any payment(s) by the due date, the price cannot be changed nor can the punishment fees be charged, as against him. Nevertheless, as regards purchasable clients, who knowingly and deliberately omission, they should be do liable to compensate the bank, subject to the following two conditions. a) The negligenceer must be wedded a grace period of at least(prenominal) a month. (b) It must be proved beyond reasonable doubt that the client is a defaulter, and he has no justifications for his latter behaviour. 34 Murabaha can only be utili ze when a commodity is to be purchased by a customer/client. It is highly pertinent to peruse the subject matter of the Murabaha, as the put downs must be signed for obtaining funds for a specified purpose only. It needs to be disquieted that the Murabaha consists of several different contracts and they all play their part one after another, in respective stages. 5 31 Ibid at 11, page 126, para 2 (Arguments against Murabaha). It refers to a situation where the possessor has not yet taken the physical address of the commodity, yet all rights and liabilities of the commodity are passed on to him including the risk of its destruction. 33 Ibid at 11, page 126-127 (Murabaha Rules). 34 Ibid at 11, page 129, para 1 (Penalty for Default). 35 Ibid at 11, page 130-131 (Basic Mistakes in Murabaha Financing). 32 18 D. Bai Muajjal This is basically a sale on deferred payment.The deferred payment becomes a loan, which the buyer pays in a lump sum or instalment (as agreed between the parties). In Bai Muajjal all those items/commodities can be sold on a deferred payment, which come under the heading of capital, where quality does not make a difference but the natural or intrinsic value does. The price to be pay must be agreed and fixed at the time of sale. The buyer must be given complete possession of the commodity in question, whilst the seller is free to ask the buyer to provide him with guarantee in the form of a mortgage or any other item. 6 E. Ijaraha In an Islamic leasing (Ijaraha), the owner of the summation, while retaining the corpus of the addition, transfers its usufruct to another person for an agreed period, at an agreed consideration. All the liabilities arising from the ownership must be endured by the lessor. The period of contract must be determined in clear terms and the asset must be clearly identified as between the parties. 37 The lessee is liable to compensate the lessor for all the damage(s) caused to the undertake asset by any misuse or negl igence on his part.The lease should be determined at the time of the contract for the whole duration of the lease. The lessor cannot increase the rental unilaterally, and must bestow the lessee in that regard. 38 Lease was not originally a mode of financing, nonetheless, certain financial institutions have adoptive leasing as a mode of finance instead of a long term bring arrangement, which is based on interest. The transaction of financial lease may be used for Islamic financing, subject to certain conditions. It does not suffice for the latter purpose to deepen the term interest by rent and mortgage by leased asset.It must be emphasised that there is a difference between leasing and an interest-bearing loan, as regards Islamic Shariah. 39 contrasted the contract of sale, an Ijaraha agreement can be based on a hereafter date, thus it is different from a Murabaha agreement in that respect. In majority of the cases concerning financial lease, the lessor (financial institution ) will purchase the asset through the lessee himself. The lessee makes the purchase on behalf of the lessor who then pays the price to the supplier, either directly or through the lessee. 0 The lessor, being the owner of the asset, and having purchased it through his agent (lessee), is liable to bear all the expenses incurred in the process of its purchase and its import to the country of the lessor (if that is the circumstance), e. g. expenses of freight and custom duty etc. 41 36 Ibid at 21, pages 102-103 (Bai Muajjal). Ibid at 21, pages 158-160. 38 Ibid at 11, pages 148-149. 39 Ibid at 11, page 149 (Lease as a Mode of Finance). 40 Ibid at 11, page 150 (The Commencement of Lease). 41 Ibid at 11, page 152, para 3 (Expenses Consequent to Ownership). 37 19 variable quantity Rentals in Long Term LeasesSeveral Islamic banks use the rate of interest as a bench mark to calculate the rental amounts, e. g. London Interbank Offered Rates (LIBOR), which is the rate of interest at which Conv entional banks borrow funds from other banks, in marketable size, in the London interbank market. The idea is to earn the same amount of profit through the mode of leasing, as earned by the Conventional banks by advancing loans on interest. Instead of fixing a distinct amount of rental, the Islamic banks calculate the cost of purchasing the asset that is to be leased and intend to earn an amount jibe to the rate of interest.Thus, the agreement between the parties provides that the rental will be equal to the rate of interest or to the rate of interest in addition to something. Since the rate of interest is variable, it cannot be set for the whole duration of the lease. The latter arrangement has been objected to on the following two grounds42 (a) By subjecting the rental payments to the rate of interest , the transaction is make to resemble an interest-based financing. The modern Islamic scholars have denied that argument and have stressed that the rate of interest is only used as a benchmark.As far as the requirements of Shariah are concerned, they must be fulfilled for a valid lease to be executed, and it is the latter that counts, as regards the legality of the Islamic financial lease. The vital difference between an interest-based financing and a valid Islamic lease does not lie in the amount that has to be paid to the financier or the lessor. However, it is recommended that the use of rate of interest as a benchmark must be avoided at times, where possible, so as to distinguish it with the non-Islamic transaction. 3 (b) The assist criticism relates to the situation that the variations of the rate of interest are not determined and the ligature up of rental with that rate of interest implies Jahalah and Gharar (uncertainty, especially in a contract that may lead to dis moldes later on), which are not permissible by Shariah precepts. It is one of the basic tenets of Islamic Shariah that the parties must be well certified of the consideration in every tr ansaction they enter into.This objection has been responded by tone at the reasons of prohibition for Jahalah, namely that Jahalah may lead to disputes between the parties and it might render the parties susceptible to an unforeseen loss. As regards the first objection, both parties make their decisions with mutual consent upon a welldefined benchmark serving as a criterion for determining rent, thus no question of dispute arises. Relating to the second objection, several contemporary scholars suggest that the relation between rent and the rate of interest is subjected to a limit.E. g. the base contract may provide that the rental amount given after a specified period will be altered according to the change in the rate of interest, but in no instance, it will be higher than 15% or lower than 5 % of the previous monthly rent. The latter implies that if the increase in the rate of interest is more than 15%, the rent will be increase only up to 15%, and if it decreases by more than 5 %, the rent shall not be diminish to more than 5%. 44 42 Ibid at 11, page 154 para 1. Ibid at 11, page one hundred fifty-five. 44 Ibid at 11, pages 155 & 156. 43 20 F.Ijaraha Wa Iqtina It is permissible in Islamic Shariah that instead of there being a sale, that the lessor signs a crash agreement, making a contract to gift the leased asset to the lessee at the end of the lease period, on condition that the lessee makes all the payments due for his/her rent. The latter arrangement is known as Ijaraha Wa Iqtina. It has been affirmed by a large number of contemporary Islamic scholars and is widely practised by the Islamic banks and financial institutions. Although, the validity of this arrangement is subject to two conditions.They are (a) The agreement of Ijaraha itself should not be subjected to signing of sale or gift. The promise should be made in a separate document. (b) The promise must be unilateral and binding on the promiser only. If the leased asset is used by numerous users, the lessee cannot sub-let the asset, except with the express permission of the lessor. The lessor can sell the leased property to a third party, whereby the lessor is replaced by the new owner, and the lease agreement would then be between the new owner and the lessee. 5 This form of financial leasing has been subjected to criticism as it is not compatible with the modern financing agreements, as a non-binding promise cannot be enforced before courts and is thus not a legally satisfactory solution. In an attempt to reconcile Ijaraha Wa Iqtina with the modern financial structure, it is suggested that the lessors failure to notice his non-binding promise should be subjected to a pre-contractual liability, or culpa in contrahendo.In civil law jurisdictions, this concept of pre-contractual liability contemplates that the contracting parties will conduct their pre-contractual dealings in good faith and also points to any relevant facts, which are within the commercially usual li mits, to the other party. If a party is unsuccessful in carrying out its duties, and thus in give of contract, then it will have to pay the damages to the other party for not fulfilling the agreement. By adopting this suggestion, the promisor in breach, is made liable for the promisees cost, in purpose another similar object to purchase. 6 G. Salam This mode of financing can be used by modern banks and financial institutions, especially in order to finance the agricultural sector. In Salam, the seller undertakes to hang on specific goods to the buyer at a future date, in exchange of an advanced price fully paid at the spot. The payment is made in cash, and the supply of purchased goods is deferred. 45 Ibid at 11, pages 161-162 (Ijaraha Wa Iqtina). tress and Lease Financing in Islamic Project Finance by Klarmann, J. I. B. L. R, page 65 (Lease Financing Ijaraha Wa Iqtina). 6 21 Purpose of Salam Contracts The purpose is to stand the need of farmers, who operate on a small scale, a nd thus need the finance for farming purposes, so that they can carry out their day-to-day activities. Moreover, it is designed to assist the traders, in their export/import transactions. Salam proves adept to the seller, as he receives the price in advance, and at the same time, advantageous to the buyer, as the price under the Salam arrangement is normally lower than the price in spot sales. 7 The permissibility of Salam is seen as an exception to the general rule that prohibits forward sale and thus it is subject to certain stringent conditions, which are as follows Conditions of Salam 1. The buyer must pay the full price to the seller at the time of effecting the sale. The basic idea cornerstone the Salam agreement, is to satisfy the instant need of the seller. If it is not paid in full, the latter purpose is not achieved. 2. The quantity and the quality of the goods must be specified. 3. Salam cannot be effected on a particular commodity or on a roduct of a particular field o r farm. 4. The contract must expressly state the quality of goods, thus leaving no room for ambiguities, which might lead to disputes later on. Same is the case as regards the quantity it must be agreed upon in absolute terms. 5. The exact date and place of the rescue must be specified. 6. Salam cannot be effected in respect of things, which require them to be delivered at the spot. 7. Since the price in Salam agreements is generally lower than the price in spot sales, the difference between the two prices may be a valid profit for the bank. . A security in the form of a guarantee, mortgage or hypothecation may be required in order to run into the delivery from the seller. 9. The seller must deliver to the buyer, the commodity, and not the money at the time of the delivery. 48 H. Istisna Istisna is a sale transaction whereby a commodity is transacted before it comes into existence. It is an order for a manufacturer to manufacture a certain kind of commodity, to be used by the purc haser. The manufacturer uses his own material to 47 48 Ibid at 11, page 133 (Purpose of Use).Ibid at 11, pages 134-135 (Conditions of Salam). 22 manufacture the required goods. The price must be fixed with consent of all the parties involved. All other vital specifications of the commodity must also be fully settled. Subject to the commendation or receipt of prior notice, either party can cancel the contract before the manufacturing party has begun the work. The time of delivery need not be fixed, however a time limit may be imposed as between the parties. 49 I. Istijrar Istijrar means purchasing the goods from time to time, in different quantities.It is an agreement, whereby the purchaser buys something at regular intervals, without any formal offer or adoptance mode or bargaining. There exists one master agreement, which contains all the terms and conditions of the purchases in a finalised form. There are two kinds of Istijrar (a) where the price is determined after all the tran sactions/purchases are completed (b) where the price is determined in advance, but the purchase payment is made from time to time. As regards the Islamic mode of financing, only (a) is relevant. Istijrar can be adopted as a viable tool, in the case of suppliers of the borrower.In the latter case, the bank enters into a Murabaha agreement (Agreement to Purchase) with the suppliers (mainly trading companies), that it will purchase the assets from them at a market price or at a pre-determined push aside from the market price. Whenever the customers demand, the bank can purchase that particular asset from the suppliers on the tail end of Istijrar, and sell it onwards to the customer, on the basis of Murabaha. 50 49 50 Ibid at 11, pages 139-142. Ibid at 11, page 143-145 (Istijrar). 23 Chapter 3 Application of the Islamic Modes of Finance A Research on Islamic Project Finance A. Shariah-Related Documentary and Other IssuesIn recent years, Islamic financial institutions have actively st arted to structure and participate in transactions, which are associated with long-term trade, as opposed to the short term trade related transactions (e. g. Murabaha). This transition has given rise to a number of important Shariah and infotainment issues. The prevalent backdrop is that the Islamic bankers and their advisers now face even more stringency, regarding the ground up of Shariah-compliant structures that are accepted commercially and are also in concurrence with the existing governing law of that particular jurisdiction where they operate. 1 As noted earlier, one of the basic principles of Islamic finance is that at a particular stage in the transaction, the financial institution will be the owner of all or part of the asset that is being financed, and under Shariah precepts, several forms of risk related with being an owner cannot possibly be passed on to the customer or a third party. The latter is the most define difference between an Islamic financial system and a Conventional one. These additional ownership risks become more upright when the transaction involves complex capital assets, e. . a power plant or an aircraft, as the potential exposure faced by the Islamic financier as an owner can be very vituperative and significant. It is expected that since the Islamic financial institutions are willing to take greater risks as compared to their Conventional counterparts, this should result in greater rewards for the former. It is submitted by the academics that this is not necessarily the case. 52 In several countries, e. g. the idea of interest is sanctioned by an Act of Parliament, and the latter being affirmed by the courts.Having said that, it is imperative to notice that laws of several states are embedded in Shariah law and concepts, if not in whole then in part. It is observed that a proposed Islamic structure that has the approval of a Shariah board must be examined against the local statutes of that particular state to check whet her the structure raises any adverse issues under those laws, and if so, then the proposed structure will for sure need amendment and another approval from the Shariah Board.For example, under the Shariah precepts, a transfer of an interest in real ground is effective upon an agreement, signed between the buyer and seller. However, such an agreement may not be recognized by the local laws (at least as regards the bona fide third parties) until and unless the transfer is enter in the concerned land registry. Sometimes, the job might be such that a person to whom a real estate interest has been validly transferred under Shariah principles, would not necessarily be recognised as the legal owner under the local municipal 51 2 Ibid at 14, page 317. Ibid at 39, page 317 (Risk Reward Issues). 24 laws. In such situations, the legal and financial consultants, giving their adept advice on such structures, are required to strike a labyrinthine sense, so that the Shariah conditions and r equirements are satisfied and are also accepted and applicable under the governing law. 53 There are certain issues relating to the nature of Islamic financing that come up too often and thus need to be discussed. Some of these are discussed below but the list is not intended to be exhaustive. IndemnitiesThe Shariah principle governing the operation and conditions of Islamic financing expressly prohibits indemnity for a loss or damage that is not caused by the customers default. Shariah sees the whole idea of seeking indemnity from the customer as unfair, notwithstanding the fact that the particular asset may have been chosen by the customer. Matters relating to the title to the asset, its fitness for its intended purpose and taxes that are imposed on ownership raise some expert and significant credit issues when one is dealing with a major capital asset, e. . aircraft or a vessel. Having said that, there must be some alternate basis for an Islamic financier to claim indemnity. Su ggestions have been forthcoming in the form of seeking indemnities based on the concept of in the public eye(predicate) need or necessity or by other methods, to cover the risks. E. g. such methods could take obtaining the benefit of warranties from the supplier or the manufacturer of the asset and assurances that the asset(s) are in perfect condition and have been validly perfected for the intended use.The financial perplex of the assignor (and any available insurance rampart relating to the assignor) would also have to be assessed. 54 In contrast, in the case of Conventional financing, the customer often provides wideranging indemnities in order to protect the bank from any risks related with the ownership or use of the asset. The banks are not concerned with the issue of fault and are more keen to ensure that they are insulated from credit risks, arising from the ownership, use or operation of the asset. 55Warranties As the owner of the asset, the Islamic financier may not be able to exclude the benefit of some warranties to its customer under the Shariah principles. In few instances, the Islamic financier has the benefit of the warranty from a third party that can be assigned to the customer (i. e. from a manufacturer). It has been permitted that the Islamic financier could expressly exclude any warranty from the Islamic financial institution in the customers favour to the extent that it is cover by the assigned warranty.This does not seem to be an adequate solution in that it is often impossible to describe with true statement the extent of the warranty being assigned. Inevitably, some of the warranties may not be cover by a third party assignment and thus the Islamic financier will still be providing the benefit of some warranties to the customer. In a Ijaraha (leasing) transaction the balance of such warranties, which cannot be excluded under Islamic principles may possibly be cover by insurance. 3 Ibid at 39, page 318, para 2 & 3. Ibid at 39, p age 319 (Indemnities). 55 Ibid at 39, page 319. 54 25 Thus, if warranties will raise Shariah related issues, the Islamic financier must immediately try to identify those residuary warranties that cannot be covered to decide whether or not this renders the transaction commercially unsatisfactory, particularly, if its financial return will not reflect these additional risks. 56 Compensation and Liquidated damagesIn Conventional financing, if the borrower defaults on any payment due on him, default interest is charged as against him, thus compensating the banks. This approach is unacceptable as regards Islamic financing, due to the plain reason of any such compensation/liquidated damages tantamount to charging interest. Unfortunately, the experience of Islamic financiers in trusting their customers, that they would pay on time, has not really been successful, and there is a general agreement that there must be some form of penalization if a customer does not pay on time.The Islamic financier can only claim compensation if it suffers loss or damage due to the true fault of the customer. The compensation must reflect the actual loss of the financier. Most Islamic financings have a compensation provision dealing with failure to pay on a due date and which uses a benchmark linked to LIBOR, as discussed above. The entire purpose of such provisions is not to compensate the financier, but to treat it as an incentive to the customer to make payments by the due date. 57 Events of defaultIn a Conventional financing, there will be a progression of events of default, which will give rise to rights in the favour of the banks, and in particular, the right to demand the quittance of outstanding debts. As a general principle, the latter view is accepted by the Shariah law, as long as the customer is at fault. In a Conventional financing, there will be events of default that are not within the customers control. It is considered as unviable to include such events of default i n an Islamic financing, and each event must be diligently drafted to take account of the latter. 8 This, however, raises credit risks, which if not compensated for by the customer in the form of an increased return to the Islamic financier, may force the latter to take on unneeded risk, which will be without any reward. This issue becomes even more vital in the case of a co-financing that involves both Islamic and Conventional financing. The Conventional banks will surely not like the idea of Islamic facility not going into default at the same time as them, and this could possibly have adverse effects on the security sharing under inter-creditor arrangements.It has been argued that in these circumstances the Conventional banks should accept the position of Islamic financiers, however, the prevailing position is that the Conventional financing is the controlling financial force in the world and thus it is often arduous for Islamic financial institutions to have their views stand in a co-financing. Examples of events of default that can potentially cause dispute between Conventional and Islamic financiers would be nationalisation, requisition, loss of air traffic rights and force majeure. If there is disagreement as regards any of the above mentioned events of 56Ibid at 39, page 320, para(s) 2 & 3. Ibid at 39, page 321, para 1. 58 Ibid at 39, page 321, (Events of Default) para 1. 57 26 default, then it is advised that they must be put into a separate category of events called by some other name, such as events of mandatory prepayment. 59 If there is an event of default the customer may be obliged to purchase the asset, at a predetermined price. That obligation must not be listed in the same document (i. e. the lease) to avoid concerns regarding conditionality but should be contained in a separate document, e. g. an option or a deed of covenant.If the event of mandatory prepayment arises, the customer will not be in default but the occurrent of such an event will enable the financier to exercise a right or option granted to it by the customer in a separate document requiring the customer to purchase the asset. The conclusion to this whole procedure being that, on the face of the document, the events of default will be Shariah-compliant and for events of mandatory prepayment, there will be a Shariah-compliant system that results in the asset being purchased, thus clearing the amount that the customer owed the Islamic financier. 0 Set-off It has often been disputed that the grant of set-off rights that are solely in favour of the Islamic financier, is against the Shariah precepts, which require an Islamic finance transaction to be fair and reasonable when taken in the context of the customer. The aforementioned issue has been resolved in various transactions by providing that there are statutory set-off rights that cannot be waived and which keep an acceptable balance as regards favouring the financier and the customer. 61 B. Constructio n and Lease FinancingSpecific Issues in Relation to Ijaraha (Leasing) Transactions Insurance and Maintenance pledges As per the Shariah principles, the lessor must remain liable for several insurance and major maintenance obligations. Obligation and the financial consequences cannot be transferred on to the lessee, pursuant(predicate) to the terms of the lease. The insurance obligations relate to the structural or property insurance. However, the lessee can be held responsible and liable for the cost of operational insurance, such as the business open frame insurance and third party insurance (to the extent that it relates to operational risks).The latter mentioned principles can possibly have serious implications for an Islamic financier. The direct costs involved in, e. g. maintaining an aircraft and the indirect costs and liability resulting from the failure to perform such maintenance can prove to be very significant. 62 There must be some mechanism to transfer some risk on t o the lessee, or sharing of risk if you like, which, on the face of the document is Shariah-compliant. 59 Ibid at 39, page 321, para 3. Ibid at 39, page 321, para(s) 4 & 5. 61 Ibid at 39, page 321, (Set-off), para 1. 62Ibid at 39, page 322, (Insurance and Maintenance Obligations). 60 27 The most obvious approach is to appoint the lessee as the service agent of the lessor (Islamic financier) in order to perform these activities, which would include paying the insurance premiums and the maintenance costs. The service agency agreement must specify that the service agent will indemnify the lessor for any default on his part, in the performance of these obligations. However, on the basis of general precepts, an agent must be compensated for any costs properly incurred on behalf of its principal.Usually, a nominal fee is paid to the se