The Global Financial Crisis Can Islamic Finance Help...

October 21, 2008 THE GLOBAL FINANCIAL CRISIS: CAN ISLAMIC FINANCE HELP MINIMIZE THE SEVERITY AND FREQUENCY OF SUCH A CRISIS IN THE FUTURE? by M. Umer Chapra* (A paper prepared for presentation at the Forum on the Global Financial Crisis to be held at the Islamic Development Bank on 25 October 2008) ___________________ * The author is Research Adviser at the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IDB). This paper is a revised and updated version of the keynote Forum lecture delivered by him at the inaugural session of the Eighth Harvard University Forum on Islamic Finance held on 19-20 April 2008 in the Harvard Law School. The views expressed in this paper are his own and do not†¦show more content†¦The generally recognized most important cause is, however, excessive and imprudent lending by banks.1 One cannot blame banks for this because, like everyone else, they also wish to maximize their profits in a materialist cultural environment where maximization of income and wealth is the highest measure of human achievement. The more credit they extend, the higher will be their profit. It is high leverage which enables excessive lending. Excessive lending, however, leads to an unsustainable boom in asset prices followed by an artificial rise in consumpti on and speculative investment. The higher the leverage the more difficult it is to unwind it in a downturn. Unwinding gives rise to a vicious cycle of selling that feeds on itself and leads to a steep decline in asset prices followed by a serious financial crisis, particularly if it is also accompanied by overindulgence in short sales. It is the combined influence of three forces which can help prevent the recurrence of crises. One of these is moral constraints on the greed to maximize profit, wealth and consumption by any means in keeping with the mores of the prevailing secular and materialist culture. The second is market discipline which is expected to exercise a restraint on leverage, excessive lending and derivatives. The third is reform of the system’s structure along with prudential regulation and supervision appropriately designed to prevent crises, achieveShow MoreRelatedStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Pre ntice Hall393164 Words   |  1573 PagesProcesses 25 †¢ Outcomes 25 Summary and Implications for Managers 30 S A L Self-Assessment Library How Much Do I Know About Organizational Behavior? 4 Myth or Science? â€Å"Most Acts of Workplace Bullying Are Men Attacking Women† 12 An Ethical Choice Can You Learn from Failure? 24 glOBalization! Does National Culture Affect Organizational Practices? 30 Point/Counterpoint Lost in Translation? 31 Questions for Review 32 Experiential Exercise Workforce Diversity 32 Ethical Dilemma Jekyll and Hyde 33 Case

Should Elderly Live in Old Folks Home - 897 Words

3. â€Å" The elderly should live in old folks’ home. † Give your opinion. You should write at least 350 words, illustrate your opinion with examples. Caring for the aged has recently been one of the main concerns among many individuals in today’s society. More and more individuals are choosing to send their elderly parents to old folks’ homes instead of living under the same roof as them. The debate has heated among the community today. There are people that agreed to this statement as well as opposed it. However, in my humble opinion, I think that the elderly should live in old folks’ home. Although the thought of placing a beloved parent in a nursing home likely inspires feelings of guilt, it can be a beneficial option for providing†¦show more content†¦Besides that, old folks’ home offer regularly scheduled activities to build a sense of community among elderly. For instance, they will organize some field trips and sightseeing at local landmarks for the elderly that have good physical ability so that they can pass their leisure time doing meaningful things. Not only that, the elderly may en joy chatting, watching movies or playing games with people of same aged and there will be no problem such as generation gap. Not only have that, this can also prevent the elderly from suffering depression. This is because the elderly spend most of their time sitting at home with no one talking to them as their family members may be out to work. Although the technologies nowadays are advanced but the elderly do not how to use those advanced gadgets as they are not born in the 21st century. As time passed, when they cannot express their feelings to the others, they might suffer from depression. Unlike when staying in the old folk’s home, there classes such as computer class, cooking class and gardening class so that the elderly can carry out their daily hobbies. All in all, this to ensure that the elderly live the lifestyle before they go into the old folks home and also to ensure that they are entertained when they live in there. Last but not least, with the elderly living in old folks home can lighten the family burdens. It is not easy to take care of the elderly, they are just like the old babies who need care and love andShow MoreRelatedHow The Future Will Judge Us?1215 Words   |  5 PagesPhilanthropy-Learning To Give Disconnecting elderly folks from their families and incarcerating every person who commits crime without thinking logically: Is this what modernization and our teachings adds up to? Is it even fair that human beings are taught to do these things to us from the very beginning of our educational lives? Kwame Anthony Appiah discusses several points in â€Å"How The Future Will Judge Us?† that he believes are negatively affecting our society in terms of how we treat people directlyRead MoreAnalysis Of Fishman s The Great Gatsby By Ted C. Sayre Essay1589 Words   |  7 PagesAs the degree of the old to the adolescent becomes ever bigger, worldwide maturing has gone discriminating: For the first run through ever, the quantity of individuals over age fifty will be more noteworthy than those under age seventeen. Few of us comprehend the ensuing monstrous impacts on economies, occupations, and families. Everybody is touched by this issue—folks and youngsters, rich and poor, retirees and specialists and now veteran writer Ted C. Fishman amazingly and movingly clarifies howRead MoreBook Review : The Shock Of Gray Essay1667 Words   |  7 PagesExchange, where he ran his own derivatives arbitrage firm. He lives in Chicago. As the degree of the old to the adolescent becomes ever bigger, worldwide maturing has gone discriminating: For the first run through ever, the quantity of individuals over age fifty will be more noteworthy than those under age seventeen. Few of us comprehend the ensuing monstrous impacts on economies, occupations, and families. Everybody is touched by this issue—folks and youngsters, rich and poor, retirees and specialistsRead MoreThe Practicality Of The Elderly2214 Words   |  9 PagesThe Practicality of the Elderly in Contemporary Society After reading Henry David Thoreau’s â€Å"Walden†, I was mesmerized by a certain paragraph on page five. In said paragraph, Thoreau states how worthless the elderly actually are. He writes about them having no advice worth listening to and how any valuable experience he has gained throughout his life was not taught to him by his seniors. More specifically, he says â€Å"I have lived some thirty years on this planet, and I have yet to hear the firstRead MoreHome As A Place Of Isolation1465 Words   |  6 PagesAlso, people identify nursing home as a place of isolation, amidst being surrounded by other people. More often, people who acquire chronic diseases in their late years are unable to take care of themselves, thus requiring assistance from a skilled facility. Because of this experience, the elderly people will eventually develop a feeling of helplessness, because they lose their capability to take care of themselves. Most often, the activities they have grown to do by themselves are now being doneRead MoreThe Amish Culture And Beliefs2406 Words   |  10 Pagesunique way of life and have strong beliefs rooted in their faith. Today, the Amish are continuing to grow, because they are having such large families (Hostetler, 2009). The elderly population within the community plays an important aspect in the decision making and planning for the family. Through story-telling the elderly pass down to the next generations information about the culture itself. The Amish lifestyles and beliefs are what shape them as a community and what causes them to be at riskRead MoreDiscrimination And Prejudice Against The Elderly877 Words   |  4 PagesT he term ageism refers to discrimination and prejudice against the elderly. The term was introduced into the American vocabulary in 1971 by Robert Neil Butler, MD (January 21, 1927 – July 4, 2010). He was the first director of the National Institute on Aging. According to Doctor Butler, the three primary prejudicial attitudes seem to be: (1) old age, and the aging process; (2) discriminatory practices against older people; and (3) institutional practices and policies that perpetuate stereotypesRead MoreSenior Citizen Persuasive Essay1630 Words   |  7 Pagesget old and gray, we start thinking about our past life. Where are we now? Where are we going? Will we be happy? Will we be loved? Will we be alone? Who will care? In the years past, we have seen many different lifestyles of senior citizens, both positive and negative. The one true fact that we notice is that when a senior citizen smiles, he, or she, is happy, satisfied and will live a longer life. The point of this essay is to show how pets, either real or mechanical, will help make the lives ofRead MoreComplementary And Alternative Methods Of A Family Member And Compile A Case File1138 Words   |  5 Pageseveryone is a house with four rooms; a physical, a mental, an emotional and a spiritual. Most of us tend to live in one room most of the time but unless we go into every room every day, even if only to keep it aired, we are not a complete person.† ~Rumer Godden Case File For this assignment, I chose to interview a family member and compile a case file. ï‚ § Initials: ALV ï‚ § Age: 83 years old, Hispanic female ï‚ § Health status (past and present): Diabetes Mellitus, Hypertension, Hypothyroid, CHF ï‚ § PresentRead MoreThe Terror Of Al Qaeda1713 Words   |  7 Pageswon t have any trouble in Kindergarten. 2. Covered-up Women Do you really want your lady friend covered head to toe in black cloth? Granted, once in a while that might be cool (if you re into role-playing, and who isn t), but that shit would get old pretty quick if it was 24/7. 1. Jihad Jihad sucks. I don t know about you, but I ll pass on the whole suicide bomber thing. *Actually we do (YouTube and Iraq) but who s counting? With the alarming rate of obesity in this country, we must devote

Chemical Equilibrium free essay sample

Answer the following questions in complete sentences, giving detailed explanations and support for each of your answers. 1. Explain in your own words what it means for a chemical system to be in the state of dynamic equilibrium. All reactions are able to reach equilibrium but only if they it happens in closed systems. Dynamic equilibrium is a state of balance where forward and reversed reactions happen at the same time. 2. Describe what you observed in each part of this lab. Do you think that each part of this activity helped illustrate the concepts of equilibrium? Explain your answer completely in paragraph form. There was a pattern on while the reactants were decreasing the products were increasing, showing that the reaction is two-way. This showed that two occurrences were going on and illustrated that two reactions can happen at the same time. This was a real hands on lab for me allowing me to see and experience the meaning of equilibrium. We will write a custom essay sample on Chemical Equilibrium or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 3. How did the calculated ratios of product to reactant compare in the three parts of this activity. Explain, in paragraph form, if these ratios illustrate the concept of the law of mass action and the equilibrium constant of a system. 4. What determines when a system reaches equilibrium? What observations can be made about a system once equilibrium has been established? The rate of the forward reaction must equal to the backward reaction. Also, the concentration of the reactant must equal to its product. 5. What does the value, or magnitude, of the equilibrium constant (K) tell you about an equilibrium system? Be specific with your answer. If K 1, there will be more products and not as many reactants It tells you that the products or reactants are favored in the equilibrium. 6. In real life, a given system can approach equilibrium from different starting points but will still have the same equilibrium constant. How is this possible? Explain your answer in complete sentences. At any temperature a reaction will have a k value (equilibrium constant), and this will stay constant. This means is that the amount of product you make will change because the k value cant.

The Melting Pot Essay Thesis Example For Students

The Melting Pot Essay Thesis In the 1800s and the early 1900s, some people gave the America the name, the melting pot. People imagined this because thousands and thousands of immigrants coming from around the world were coming into the United States in hope of a better life. So most people imagined that all these different cultures were being poured into a giant pot called America, heated to a low boil and molded into one kind of person. If one steps back and thinks about this theory, it isnt entirely true. In fact, its not really true at all. If one takes a closer look at America today, one sees millions of people labeled Americans but not by how they act, what religions they practice and what kind of foods they eat but where they are born. total opposites. Now all Americans must be able to speak English, or at least bad English, and they must also follow the laws set fourth by out four fathers, but no two Americans are alike. Take San Francisco for example. Twenty years ago, it was the center for the hippie movement, but just down the street from Haight and Ashbury there is a place called China Town. A place placed filled with Chinese Americans, shops and temples that could be easily mistaken for buildings only found in China . We will write a custom essay on The Melting Pot Thesis specifically for you for only $16.38 $13.9/page Order now In Ohio, one could meet a Caucasian farmer, a African American businessman, an Amish family or even a reporter who has a strong German background all in the same day. So many different people living together in one piece of land. Now, after taking a closer look, no one really melted together to make just one kind of person. But what did they do? One could say that the English man could be symbolized as lettuce, Africans as black olives, Germans as radishes, Italians as tomatoes and so on and so forth making a giant salad. All different kinds of fruits and vegetables tossed together in a bowl to create one dish. Everything in close quarters of each other, but still separate and individual. This is how America is structured. In conclusion, I believe that instead of using the melting pot as Americas metaphor for the people of this nation, we as a people should use the metaphor The Salad Bowl . This word accurately describes life in the United States of America much more than the word melting pot.American History Essays