LP4- juvenal justice- Family Assignment Example | Topics and Well Written Essays - 750 words

LP4- juvenal justice- Family - Assignment Example To begin with, the modern American family did not always have the father as the all powerful head of the household / breadwinner. Before the 1920s, women did their ample share to support the family through cottage and backyard industries that existed within their homes. These jobs could be as simple as dressmaking, babysitting, baking, etc. The common denominator among these jobs is that it allowed the woman to stay at home in order to supervise the rearing of the children. According to sources; â€Å"It was only in the 1920s that, for the first time, a majority of American families consisted of a breadwinner-husband, a home-maker wife, and children attending school† (â€Å"Does the American Family Have a History? Family Images and Realities†). This change marked a major turning point for the American families and how the parents would continue to influence the upbringing of their children. Historical research by Tas (27 - 28) has shown that even during ancient times, the family was considered to be the cornerstone of a childs discipline and upbringing and therefore, should be blamed for any delinquency that might occur. Noted as the â€Å"major causal agent in the genesis of delinquency† even the ancient Mesopotamians left tablet scriptures indicating that they believed the world would come to an end because even back then, children were already showing signs of disobeying their parents . In order to properly determine the influence of changes in the family unit in relation to juvenile delinquency, we must look at the influential variables that help determine the character development of the child. These influential variables include family functioning, impact of family disruption, and two-parent versus single parent households (Doggett, Anika â€Å"Juvenile Delinquency and Family Structure†). The family is the unit where a child is first exposed to the world and its activities. A child who is exposed to

Business Assignment Example | Topics and Well Written Essays - 2250 words

Business - Assignment Example This report stresses that recent country-by-country study analysis of globalization reveals many surprises and interesting bits. The study shows that there are high possibilities of continued integration of economies world over as well as more than five percent increase in gross domestic products. In addition, there is enormous room for world connectedness to expand which will be of various benefits in the international business. This paper makes a conclusion that mutual respect, healthy interdependency, cross cultural communication and effective leadership are some of the most appropriate ways through which a successful Global project management can become a reality. Without the implementation of the above factors such that that leadership lacks authority, power and control over employees, then the project’s destination is failure. Using cross-cultural teams effectively in projects provides a massive source of experience as well as innovative thinking that enhance innovation and competitiveness of their organizations. Managements should also make proper efforts to eliminate communication barriers that may hinder openness and transparency in the organization. Discriminatory cultures and principles should also not find a leeway into any organization. It is therefore important that managers should also give room for innovation, creativity and motivation by offering flexible leadership.

Barack Obama and his Political Propaganda Essay Example for Free

Barack Obama and his Political Propaganda Essay The process of running for the United States presidency is no easy task. Like in almost any relationship, attraction is the key to provide the foundation for anticipation and expectations. In the beginning, one will always place his best foot forward, and contemplating on addressing issues which would appeal dramatically to other people. Running for the presidency is no less than different with pursuing a girl to have a relationship with you. It all starts with making her pay attention to what you have to say and to what you can offer despite many competitors.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Barack Obama came across the attraction stage with flying colors because he seemed to have captured the attention of most population in the American community, across varying groups and minorities (Martin, 2008, p.1). For one, he appeared to come prepared for what is known as a great battle to get Democratic nomination against Senator Hillary Clinton who is one tough competitor. Obama lacks the experience, and can be said as less popular than Clinton who has established her prominence during the presidency of her husband. However, the appeal in Obama’s candidacy defers the idea that he was only elected as Senator in 2005, and a very young player in the realm of politics.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This paper aims to explore the political propaganda used by Obama to ensure his future in the White House. For the purpose of the paper, we shall examine the different types of media used by Obama to gain votes and preferences, the manner by which he delivers his agendas, his target audience and supporters, and how this greatly affects his stance in the race to get the democratic nomination. It is certain that the race between Obama and Clinton’s nomination is very tight, but we shall take the time to assess how Obama’s political propaganda has delivered expected results in his leads on major polls and surveys worldwide as Democrats most preferred candidate. â€Å"Change we can believe in† It is a fact that most Americans are demanding change from future politicians in running the country. Many circumstances and events has led Americans hopeful for change and has been the pivotal driving force behind many political agendas. Obama is no exception. By using the ideology of â€Å"change† as a campaign slogan, he ignites the hope among idealistic men and women around the country to believe in what he regards as change (Obama 2008: Change we Believe In, 2008). Obama has a great advantage in speaking with eloquence and sensitivity, with emotions that has words fulfilled with hope and change, gives many people the self-identity they want to see change in the future administration, or in this case, in a democratic candidate for the presidency. This is a note worthy to be taken beforehand, so as to provide a basis on how we can assess Obama’s political propaganda.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Even before the decisive voting held on February 5, 2008, there has been a pronounced shift in favor for Obama of Illinois from opinion polls, surveys, campaign contributions and political and media endorsements (Martin, 2008, p.1). Obama, being a new player in the realm of politics used significant intervention from different political representatives to endorse his candidacy. For example, when Senator Edward Kennedy expressed his fervent support for Obama, it has generated significant contribution in uplifting Obama’s candidacy. As many critics saw it, Kennedy’s endorsement has become a signal of the Democratic Party’s consensus on his candidacy. Following this influential event led to many mass media endorsements of the event including newspapers published in California, Los Angeles Times and La Opinion, which the most widely-read Spanish-language daily.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   After Kennedy’s endorsement, opinion polls showed Obama in strict ties with Senator Clinton for the democratic nomination (Associated Press, 2008). The strategy used governs many political advisers view to gain majority of delegates from key states to secure victory, and Obama did it with just one major political and highly-publicized endorsement.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The appeal of Obama’s political propaganda can be deemed into two significant standpoints. First, the on-going deep desire for social and political change is strongly used by the Obama campaign to hub an illusion, and to foster great support from the idealist (martin, 2008, p. 1). This s highlighted by the mass media by emphasizing that this change will come from someone from the African American community, a fundamentally groundbreaking event in American history if and when Obama wins as the first black President. However, Obama is not a clear product of any acts against racial oppression and civil rights struggles. He is a politician groomed to be of appeal to massive voters in the coming elections.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Obama’s political propaganda seeks to disengage and disassociate itself from the struggle of the elite and ruling class in running the country. More so, the critiques on Obama has seemingly less impacts because of a well-organized activities from the media who supports his candidacy and owes their respective professions to corporate bosses and financial institutions which have their own candidate as preferences. Even Obama’s appeal has penetrated the right-wing group with endorsements from Rupert Murdoch for example.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Also significant of the character of Obama’s political propaganda is the shift in campaign contributions from major business firms. More money means more capability in a candidate’s political machinery. Obama has been endorsed by different military institutions, then national security adviser to President Jimmy Carter, Zbigniew Brzezinski, and Warren Buffett, the second richest man in the United States. Other known mass media executives and corporate executives have also pledged significant amounts for Obama to continue his aspiration on the America presidency. Through continuous efforts from the Obama campaign wagon to instill their dedication towards real change, the Los Angeles Times broke their tradition of not endorsing any candidate with the promotion of Obama’s candidacy in their editorial (Martin, 2008, p.1 ).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     As an observation, although generally the political propaganda of Obama is sufficient for him to gather and maintain support, it is also clear with biases to achieve voters support. For one, it sometimes resorts to Ad Hominem or the attack to his primary opposition and her arguments. In many cases, through debates and news reports, Obama responds to what Clinton offers on a negative tone. Although at times he emphasized their differences, he also had made several points of their similarities obvious to other people. By using change as a promotional concept and advocacy of his candidacy, he often appeals to authority which uses an ideal which is popular amongst people and grant their support for the ideology he used. He also often uses the appeal to prejudice on many public conventions and speaking engagements to evoke the sense of emotional value and goodness to benefit his character. Conclusion The Obama campaign has utilized effective marketing campaign strategies which efficiently used their connections and endorsements form media outlets and institutions. For the most part, Obama is following a political propaganda which is embedded to deny political differences and social classes but with emphasis on the economic differences between individuals in the society.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Obama political propaganda strongly used news reports, radio, television and posters. It specifically and strategically used these media to indoctrinate various groups of audiences he wished to communicate with and to. Usually through this media, Obama used a directional method on how people can learn about more of his strategies, goals and principles. Through these methods, he intends to initiate individuals as information seekers, to recipients, to reinforcement and opinion leader in favor of his own. Works Cited: Associated Press (2008). â€Å"Obama comes up short on union support.† Hemscott Group Limited. Retrieved on March 24, 2008, from http://www.hemscott.com/news/latest-news/item.do?newsId=56416543358904 Martin, Patrick (2008). â€Å"US political establishment lines up behind Barack Obama.† International Committee on the Fourth International (ICFI). Retrieved on March 24, 2008, from http://www.wsws.org/articles/2008/feb2008/obam-f04.shtml Obama for America (2008). â€Å"Obama 2008: Change we Believe In†. The Official Site of Obama’s Campaign. Retrieved on March 24, 2008, from http://www.barackobama.com/

The General Information For Anti Globalization

The General Information For Anti Globalization Anti-Globalization was defended as a belief shared by various political groups that people must oppose globalization (=the process of making something such as a business operate in different countries around the world) because of bad effects it has on people, especially in developing countries, and because of the damage it does to the environment the Longman Dictionary of Contemporary English Advanced Learners. Almost the anti-globalization activities are spontaneous, the people whose benefit was affected stood up then performed the anti-globalization activities such as demonstration, ask for relieveà ¢Ã¢â€š ¬Ã‚ ¦ In fact, the activities which are opposite to globalization can be divided into 2 groups: Anti-Globalization and Alter-Globalization. The anti-globalization group directly opposes to the globalization activities; they think that the movement of people over the frontier must be controlled strictly; explorer other countrys natural resources and human resources are not permitted. This group argued that biodiversity and natural resources can be damaged permanently; and mainly call for democratic representation, advancement of human rights and more egalitarian states. The targets of this group are the World Bank (WB), International Monetary Fund (IMF), the Organization for Economic Co-operation and Development (OECD) and the World Trade Organization (WTO) and free trade treaties like the North American Free Trade Agreement (NAFTA), Free Trade Area of the Americas (FTAA), the Multilateral Agreement on Investment (MAI) and the General Agreement on Trade in Services (GATS). Alter-globalization is the name of a social movement that supports global cooperation and interaction, but which opposes the negative effects of economic globalization, feeling that it often works to the detriment of, or does not adequately promote, human values such as environmental and climate protection, economic justice, labor protection, protection of indigenous cultures and human rights. Wikipedia The different between anti-globalization and alter-globalization is anti-globalization against any kinds of globalization but the alter-globalization just mentioned about human rights, the environment, national sovereignty, and cultural diversity and so on. There are 2 popular forums for anti globalization: World Social Forum and World Economic Forum. Chapter 2: Why anti-globalization still exist? To analyst the reverses of globalization, we focus on three objects that the globalization affected to: local companies, local population, and the local economic. Firstly, the local firms: When the nation open to globalization too soon, and too sudden, the local firms had not prepare enough to face with the competitive of over sea corporations will go to bankruptcy easily. It is easy to find the example for Chuong Duong company Secondly, the local population: If the globalization incurred, local firms go bankrupt will cause the unemployment, the new organizations which had not established enough yet can not hired these new unemployees, this cause the high unemployment rate. This is the main reason for indigent at Africa. Disease can move from country to country very fast because the people can travel to other countries by air, by bus, trains or other transportation in the short time. This cause the diseases spread very fast and became the reason of thousand cases of dead at 2006 for bird flu from Indonesia and spread to other countries, 774 cases for SARS in 2003 at China and other East Asia countries, millions people dead because AIDSà ¢Ã¢â€š ¬Ã‚ ¦ Brain drain: talent will go out of the poor countries to the richers. This situation can be seen much at Africa, India and many poor countries all over the world. These countries finance to these students to go over sea study but they have never come back after graduated. Income distribution: Thirdly: local economic: The economic can not stable: when the nation join to the worlds market, it will be easy affect by the world situation, let came back to the crisis at 1997, the economic of the world had been affected. The developed countries force the developing countries to reduce trade barrier but they keep for themselves by hamper the developing countries to export agriculture products which are very important for they to receive foreign currency earning. If the nation opens the market too soon, sooner than establishing of the local organizations, the creating new jobs will less than the loss. The export of this nation will not develop, the import infringe instead, deficit become serious day after day. This nation will poorer and poorer. Finally: the local society: The develop countries will export the pollution to the developing and undeveloped countries by invest the pollution goods industries, second hand goodsà ¢Ã¢â€š ¬Ã‚ ¦ to these countries. Chapter 3: Advantages and disadvantages of anti- globalization: Advantages: Anti-globalization can warn to the world the significant problems of the world such as warming of the earth, pollution, forest destroy, greenhouse affect, and so on. So that the governments and organizations can perform the actions to reduce these affects. Pollution: as many countries Racial discrimination: Sex discrimination: The war at Iraq and others To disclosure the truth that have never disclosure themselves of IMF, WB, WTOà ¢Ã¢â€š ¬Ã‚ ¦ Anti-globalization also calls for help the world: when the actives raise the problems, the people all over the world can catch them then they may perform some activities to solve these problems. Disadvantages: The demonstrations affected to social securities, many people die due to the extremist actions of the demonstration activities. The governments also have to perform many actions to control these extremist activities. The power of the voice of the anti-globalization still weak, the persuade ability of this organization also weak, can not appeal large group of people to do things, almost the activist just stand alone or just at a small group. The anti-globalization are always action without organization, they just a group of people who were hurt by the activities of one organization then stand up and perform anti actions. Lack of evidence: Lack of effective: Chapter 4: The anti-globalization activities at Vietnam: In general, the anti-globalization activities of Vietnam are not many. This is because Vietnam performs globalization too late. After 30 Apr 1975, Vietnam was achieved to be an independence country. Almost people agreed that during ten years after the independence date was the black period of Vietnam economic. Almost activities become stagnation; famine incur in many areas event at Mekong delta which was the biggest farm in the country; education, health care and other social welfare were totally ignored. The globalization of Vietnam begins at 1986 with the open market policy name socialist-oriented market economy. Thank to this policy, the economic of Vietnam reversed, farmers got his own land (event in temporary) for manufacturing and alive. Up to Dec 2001, US-Vietnam Bilateral Agreement was signed; this is the very important step for recover the economic and became the first step to join into World Trade Organization (WTO). These are just some activities at Vietnam for this event: to strike for higher rate of pay in the industrial zone Binh Duong province and Bien Hoa city at 2008 for some Taiwan firms; Conclusion: According to Yin Yang theory of Chinese, every thing has 2 faces: positive and negative, the existing of anti-globalization also belongs to this theory, anti-globalization will exist parallel with globalization, this also the rules of the existing: opposition to develop, and develop must contain opposition. Einstein also issued the theory for relative: every thing

The Growth Of The Takaful Industry Economics Essay

The Growth Of The Takaful Industry Economics Essay Takaful is derived from an Arabic word â€Å"Kafala† which means mutual guarantee, whereby a group of participants agree to mutually guarantee among themselves against a defined loss. This simple concept of takaful is the foundation of the takaful business, which is the present Shariah-compliant insurance Takaful is â€Å"a scheme based on brotherhood, solidarity and mutual assistance which provides for mutual financial aid and assistance to the participants in case of need whereby the participants mutually agree to contribute for that purpose† The contemporary jurists acknowledge that the foundation of Takaful was laid down in the system of â€Å"Aaqilah†, which was an arrangement of mutual help or indemnification customary in some tribes at the time of the Prophet (peace be upon him). Takaful provides solidarity in respect of any tragedy in human life and loss to the business or property. The elements present in the conventional insurance viz; Gharar (uncertainty), Riba (interest) and Maisir (gambling) are against the tenets of Islam. Muslim Scholars do not object to insurance per se but only to certain weaknesses in the insurance contract (which weaknesses render the insurance contracts fasid). It is for this reason, 1972 Fatwa by National Council for Islamic Religious Affairs of Malaysia that life insurance is not lawful as it contains gharar, Maisir and riba. Hence, takaful tries to remove all these facets present in the conventional insurance and works within the guidelines of Shariah. The concept of tabarru makes the transaction permissible and valid according to Islamic law. It changes the basis of contract from an exchange contract (muawadat) which is bilateral in nature, to a charitable contract, which is unilateral. 2.0 Takaful Industry overview Globally, the takaful industry has been growing rapidly, appealing to both Muslims and non-Muslims. Currently, there are more than 110 takaful operators worldwide. As per the Ernst Youngs World Takaful Report 2009, global Takaful contributions have risen to $3.4bn in 2007 as compared to $2.5bn in 2006 (36% Growth). The new projections for 2012 for Takaful Market are US$ 7.7 bn and US$ 11.0 bn by 2015. Saudi Arabia was the biggest market in the Gulf Cooperation Council (GCC), with contributions totaling USD 1.7 bn in 2007, and Malaysia the largest takaful market in Southeast Asia with contributions of USD 800 mn. Malaysia has achieved significant milestones in the development of its takaful industry. With the enactment of the Takaful Act 1984, the first takaful company was established in 1985. Since then, the industry has been gaining momentum and increasingly recognized as a significant contributor to Malaysias overall Islamic financial system. There are currently eight takaful operators and two re-takaful operators, with five foreign participations from the UK, Bahrain, Germany and Japan. These takaful operators conduct both domestic and foreign currency business. 2.1 Current Trends and Future prospects With the expanding demographics of Islamic countries and that of the Islamic population globally, the prospect of takaful looks promising. The Accounting Auditing Organization for Islamic Financial Institutions (AAOIFI) has been playing a key role in framing and reviewing the regulatory standards governing takaful companies. With improved standards of living and increasing awareness of Takaful, the market is expected to see steady growth in per capita spend on Takaful premiums and also in terms of market share in comparison with conventional insurance. 2.2 Strategic Issues and Challenges With projected growth as described above, the industry will experience much change. As with all new product offerings, success will depend on several factors, both internal and external. Highlighted below are a number of strategic issues and challenges that providers will contend with as the industry expands. Distribution Challenges New entrants should create synergies that can be used to leverage existing distribution channels, banc-Takaful and strategic alliances across geographies. This will also enable the operators to increase premium volumes to improve profitability; a key factor in surviving the ‘start-up years. Developing Innovative Products Developing attractive and competitive products that meet diverse customer needs will be a major challenge for Takaful operators. Though Takaful operators cater to a very specific and presently unsatisfied market, they still need to create product offerings that are as sophisticated and innovative as their conventional competitors. Improving Marketing and Branding Tactics The present brand value of Takaful is relatively limited particularly in non-Islamic countries. Analysts have suggested that Takaful has enormous potential for Islamic and non-Islamic populations, offering an ‘ethical insurance alternative. Experts also propose that Takaful can potentially be a useful mechanism for poverty alleviation. Raising the Standards in Customer Service As the industry grows and becomes more competitive, building customer service skills and developing best practices will become increasingly important. At present, general customer service standards are average among Takaful providers, relative to their conventional counterparts. IT Solutions for Takaful Issues such as innovative product development, time to market, servicing of policies and claims within acceptable time lines, accuracy of calculations, cost containment, and improvement in service standards can all be facilitated by the implementation of robust and flexible IT solutions. Takaful compliant IT solutions serve an important purpose from a regulatory compliance standpoint and can help operators avoid susceptibility to unfavourable regulatory decisions and the possibility of increased regulatory compliance costs. 3.0 Takaful Models A takaful model depicts the relationship between the company and the participants. Based on the nature of relationship between the company and the participants, there are various models like Wakalah (agency) Model, Mudarabah Model and the combination of agency and Mudarabah models. In Mudarabah model that is practiced mainly in the Asia Pacific region, the policyholders get profit on their part of funds only if Takaful Company earns profit. The sharing basis is determined in advance and is a function of the developmental stage and earnings of the Company. In Wakalahmodel, the surplus of policyholders funds investments net of the management fee or expenses goes to the policyholders. The shareholders charge Wakalah fee from contributions that covers most of the expenses. In order to give incentive for good governance, management fee is related to the level of performance. 4.0 Takaful Categories 4.1 General takaful The general takaful provides protection on a short-term basis, normally covering a period of one year. It commonly provides protection for property loss or damage, liability arising from damage. In general Takaful, the company raises a fund, which called as ‘tabarru fund or account, where the participants pay to the fund. The company will invest the remainder of the fund after deducting the operational cost of the scheme. Any profit or return from the investment will be returned back to the fund. If there is any participant who faced loss or damage to his property or belonging, then the particular participant will be compensated from this fund. 4.2 Family takaful The family takaful is a combination of protection and long-term savings, usually covering a period of more than one year. It provides benefits if the insured is inflicted by a tragedy as well as potential profits. Risks covered include premature death, illness and permanent disability, and regular income during retirement. 5.0Shariah issues in Takaful: As is the case with any industry in its nascent stages, the takaful industry too is facing its own set of teething problems. Whenever we go to conferences (or) read the literature and article related to takaful, the general and the most common allegation (or) complaint is that, â€Å"Inconsistency in the interpretations of certain Shariah rules or standards is said to be an issue of the Takaful Industry†.Some of the commonly discussed Shariah issues relating to takaful are: which is the right model to follow?, who are the real owners of the takaful fund?, the methodology and the process to be adopted to share the surplus between the participants, the issue of hibah (gift) in a takaful policy, the issue of insurable interest and whether underwriting in concordant with the principles of maqaasid as-Shariah etc. So, let us analyse these issues in the light of Shariah to understand the arguments for and against each of these issues to get a clear idea on the issue. Finally, we will also try to analyze if the issue of inconsistency is as serious as it is being projected and what are the areas which need to be standardized, if at all it is required. 6.0 Issue #1: The dilemma of choosing the right takaful model In many of the takaful conferences and literature available, the question that is manifested is regarding the different takaful models existing in the world market. Some people express a desire towards a standardisation of takaful products as this will avoid confusion, facilitate regulation etc. Before we analyze the pros and cons of this thought, let us understand the modus operandi of the mudarabah model. Some people, usually criticize the mudarabah model since the operator too shares the underwriting surplus which should ideally belong to the participant. 6.1The modus operandi of the mudarabah model Generally, many Takaful companies (especially those using the Mudaraba principle) claim that their operations are based on the concept of mutual or co-operative insurance as approved by the Muslim jurists. This claim is on the basis that: They receive the premium or contribution from the insured on the basis of the Mudaraba principle, whereby the company becomes the entrepreneur (Mudarib) and the insured party the capital provider (Rab al-Mal). The insured party agrees to donate a certain percentage (or in some cases as in General Takaful the whole of the amount paid) of the premium/contribution to a special fund used to pay compensation or benefits to contributors. Any surplus left in the fund after settlement of all claims is shared by the company and the insured as profit in a ratio as agreed in the contract. An insured party who has received compensation, the amount of which is greater than what he could have received as a share of the surplus had he made no claim, is not entitled to share such a surplus. The company uses normal actuarial principles to calculate risk and premium. 6.2The industry practice Until recently, the Mudaraba model adopted by Malaysian takaful operators refers to profit as the underwriting surplus, which is the excess of premiums over claims, plus investment returns. This arrangement marks a departure from the original Mudaraba model, which will entitle the takaful operator a ratio in the investment returns, without sharing in the underwriting surplus. The modified Mudaraba model justified the sharing of the underwriting surplus on the grounds that such an arrangement would allow takaful operators to withstand competition and avoid overpricing, which may eventually sway takaful participants from takaful, and be attracted to conventional insurance, with all its non-Shariah compliant elements. This is further justified by the fact that there is nothing haram in sharing the underwriting surplus, in the view of the absence of any textual or general Shariah principle disapproving such a practice. 6.3Modes of surplus distribution Generally the surplus which is generated after paying all the claims and other expenses is distributed in the following ways. Pro-rata mode: Whether the surplus is underwriting surplus plus profit or underwriting surplus only, it is distributed in proportion to the premium paid by the participants, without differentiating between claimable and non-claimable accounts. Selective mode: This mode tends to indemnify non-claimable accounts only. Takaful operators tend to deprive claimable accounts, so that they become more prudent in the future. 0ff-setting mode: This mode tends to offset the rate of underwriting surplus from the amount claimed. This is applicable only on accounts whose underwriting surplus less than the claims. If the underwriting surplus is equal or more than the claims, then the participant does not share in the surplus. 6.4Do Takaful models need to converge? While the positive desire towards a standardisation of takaful products to avoid confusion, facilitate regulation etc, are welcome, the other side of the coin is that takaful is an Islamic phenomenon and should be viewed through the prism of fiqh and socio-cultural context. We should realise that takaful per se is not a product, and thus should not be equated with insurance. It is described as a system, rather than a product, which aims at the joint-guarantee between the contributors in a risk-covering scheme. We should not lose focus of the source of the inspiration of takaful. It is primarily to spread a risk to alleviate financial burden when it inflicts a person in a spirit of humanism. Unlike in the past, presently money is contributed in advance. This element of philanthropy should also be reflected in takaful to differentiate it with insurance, which is a pure tug of war between maximising premium to be paid and minimising the compensation to be paid. If one adulterates the spirit of takaful and treats it as a pure standardised commercial venture then the Shariah spirit may be lost. The different models in fact create a space to reactivate the juristic acumen. For any legal system to survive, especially in an era of globalisation and universalism, one should allow the system to evolve. This evolution is in turn influenced by many external factors such as politics, schools of law, tax implication etc, which differ from country to country. For instance, many multinational banks offer different home financing products in different jurisdictions. May be in one country Ijarah (lease) will best suit everybody while in another country the Murabaha (differed payment). This shows the versatility of Islamic law. The same spirit should prevail for takaful. One cannot replicate these products on the basis of Islamic law and then try to standardize the Islamic products developed on the premise of conventional products. This should not be the case, a change in mind set is required because Islamic financial products should have its own features ultimately. Standardization is good in a way as it brings in more certainty. However, one should ponder on Imam Maliks attitude towards standardization of Islamic law when Ibn Muqaffa asked the caliph of that time to standardize Islamic law. But he refused on the basis that the jurisprudence developed by other imams also had their proofs from Shariah. Hence one cannot accept only Maliki school of law. In other words Islamic law must preserve its legal elasticity. By standardizing Islamic finance one will lose the legal beauty inherent in Shariah. Therefore by accommodating various models different branch of fiqh is revived. 7.0 Issue #2:The issue of surplus distribution The most critical issue in takaful is the issue of surplus distribution. Being a taawuni instrument to provide a mutual guarantee for possible risks, surplus arises as an issue of what to do with it if such risks are dealt with through risk transfer or indemnification. A recorded surplus at the end of the financial year of a particular takaful operator is an issue that invokes both Shariah and legal scrutiny. As far as surplus distribution is concerned, two juristic views have surfaced and dominated the takaful industry in the Middle East and Malaysia. The first one categorically prohibits the sharing of the underwriting surplus between the takaful operator and the participants, but the other view validates the sharing, based on ratios that differ according to the line of products offered. The opponents of sharing the underwriting surplus back their contention by decisions taken by highly acclaimed institutions, such as AAOIFI, whose standard on takaful reads: â€Å"The Takaful operator does not share in the (underwriting surplus)†. The AAIOFI Standard on takaful states: â€Å"The underwriting surplus and its returns, less expenses, and payment of claims, remain the property (milk) of the policyholders, which is the distributable surplus. This is not applied in commercial insurance, where the premiums become the property of the (insurance) company, by virtue of contract and acquisition, which would make it revenue and a profit for commercial insurance† This statement by AAOIFI raises the issue of ownership claimed on the premium paid. On one hand, the participant has donated the premium as tabarru, hence, losing title over it, as prescribed by the rules of hibah in the Shariah, but on the other hand, he still holds claim over it in the form of getting the whole underwriting surplus or a part thereof. Hence, let us analyse the ownership issue element in hibah and the extent of its Shariah compliancy. There are a number of jurists who emphasized that pure hibah leads the wahib to relinquish his ownership over the object of hibah. Ibn Qudamah asserts that â€Å"al-hibah tamalik†- a hibah which requires the wahib to enable the beneficiary to claim title of the object of hibah. Al Imam al- Shirazi points out that â€Å"Al-hibah tamlik bighayri ‘iwadd â€Å"- a hibah which enables the beneficiary to own the object of hibah without an exchange. In such a case, the juristic implications of hibah, as Ibn Nujaym al- Hanafi asserts, will be the transfer of hibah to the beneficiary, entitling him to hold title over the object of hibah (thubut al-Milk lil mawhubi lahu). Generally speaking, the Shafi‟is view hibah as transferring the ownership of an asset without exchange during ones lifetime, on a voluntary basis. The other mazahib (schools of jurisprudence) refer to the same meaning, with a special emphasis on the element of â€Å"no exchange†, i.e.: bi ghayri ‘Iwadd. This transfer of ownership would be effective, either by way of acquisition (qabd) on the part of the beneficiary, which is the view of the Shafi‟is and Hanafis, or by way of ijab and qabul (offer and acceptance),, which is the view of the Malikis. This juristic approach is an evidence that tabarru requires the relinquishing of ownership over the object of hibah. Since the latter entitles tamlik to the beneficiary, we can rightly say that the mutabarri (donor) does not hold any legal right or claim over the asset donated. Having said so, the takaful operators are at liberty to stipulate conditions on how the underwriting surplus should be distributed, invoking the doctrine of shurut (conditions) in contracts, as articulated in Islamic jurisprudence. The only shroud of right that the donor may still enjoy to hold title of his hibah is when he donates it in exchange for a counter value, a principle known as â€Å"hibah al-thawab† Contemporary scholars like al-Qurdaghi are of the view that the principle of hibah al-thawab (a gift for on exchange) is a good premise to justify the confinement of surplus to the participants only. It is true that some of the Prophetic hadiths referring to hibah al-thawab have secured some right of ownership to the donors after donation. Abu Hurairah narrated that the Prophet (s.a.w.) said: â€Å"The donor holds an exclusive right of ownership over his hibah, provided he is not rewarded for it†. This hadith is the only piece evidence attesting to a conditional ownership of the hibah by the wahib, allowing him to retract his hibah if he is not rewarded or satisfied with the reward. However, as clearly understood from the hadith, this evidence only gives conditional retraction of the same gift, not a surplus of it. In the case of Islamic insurance (takaful), this hadith is not applicable to surplus distribution, rather it is about retraction of hibah. Another hadeeth which is given as an argument for confining the surplus distribution to the participants only is the hadith of Nahd/Nihd. It has been mentioned in Saheeh Al-Bukhari, (Book of Sharikah) that â€Å"Muslims did not see any harm in Nahd†. The latter, as Ibn Hajar explains, is â€Å"The allocation of a fund in proportion to the number of participants (in the fund)†. Although this arrangement was more useful and practical in journeys to provide mutual coverage of expenses, it has been viewed as a mechanism to transfer risks, whether in a journey or otherwise. After citing the same hadith, the appendix of AAOIFI Standard on Takaful provides an explanation to Ibn Hajar‟s definition of Nahd. The Standard states that Ibn Hajars definition of Nahd refers to the underwriting surplus, which should be redistributed to the participants, so that it could be used in another journey. Revising Ibn Hajars view in his Fath al-Bari, it can be hardly understood that Ibn Hajars definition and explanation of Nahd does not refer in any way to surplus redistribution to the same participants. The hadith, is thus, completely silent about surplus, opening the doors for ijtihad to be exercised, in view of the maqasid al-Shariahand general Islamic financial principles. Another issue raised by those who oppose the sharing of surplus to the takaful operator is that Sharing in the underwriting surplus is a kind of taking peoples property unjustly. This contention is held by prominent scholars like Hussein Hamid Hassan and Al-Qurgaghi. The contention seems to go beyond the accepted parameters of justice. Although there could be plausible grounds for such a view, in light of the practices of some takaful operators that seize the lions share of the underwriting surplus, there should not be any shred of doubt that, in light of our earlier juristic analysis, sharing the underwriting surplus is Shariah-compliant as long as it falls within the parameters of accepted conditions (shurut), as well as the principle of the rida (satisfaction), featuring such contracts. With the existence of sound regulatory framework that caps the percentage of the distributable surplus, takaful operators will not be in a position to take peoples property unjustly. 8.0 Issue #3: Distribution of death benefit in family takaful Another Shariah issue (or) concern raised is in family takaful on to whom should be the death benefit is paid after the death of the participant. One group of scholars and Takaful operators say that it should be given entirely given to the beneficiary as in the case of conventional insurance and the other group feels that the beneficiary should act as a executor of the deceased and the benefit should be distributed to the legal heirs of the deceased. So, let us analyse the arguments put forth by the two sides in the light of Shariah. 8.1The concept of mal in the light of Takaful benefit The Arabic word mÄ l, or property, originates from the root word mawala that literally means to finance. ZuhaylÄ « defines mal literally as being anything a man owns that is in his actual possession and this includes corporeal and usufruct. The classification of mÄ l by Dr. Muhammad Daud Bakar, which is suitable to the modern context, appears to adopt the majoritys definition. According to him, mÄ l or property can be classified into three types: Tangible assets like landed property, present items and stock including Islamic bonds that are asset-based such as ijÄ rah, musyÄ rakah and mudarabah bonds. Intangible assets such as copyright and royalty, trade name, trademark etc Financial rights (haqq mÄ liyy) such as rights to receive (receivable) that include Islamic bonds, deferred dowry maintenance, right to damages, the right to takaful compensation, etc. In the modern application, takaful benefit is also treated as mal (property). According to Sec.2 Takaful Act 1984, takaful benefit includes any benefit, pecuniary or not which is secured by a takaful certificate, and â€Å"pay† and other expressions. In family takaful, there are two accounts, namely the Participant Account and the Special Participant Account. The premium is paid into both accounts based on a ratio agreed by the takaful operator and the participant. The Participant Account is considered to be the deposit account of the participant whereas the Special Account is for the sole purpose of making donations. When a participant dies, there is no question regarding the heritability of the money in the Participant Account as it is part of the deceaseds estate. However, the money payable by the takaful operator taken from the Special Participant Account for the death benefit is still questionable. It is a standard practice in Malaysia that the payment of the money by the takaful operator to the nominee appointed by the deceased participant is subsequently distributed among the participants legal heirs in accordance with the farÄ `id law. The distribution of the proceeds among the legal heirs of the deceased participant has seemingly become standard practice in Malaysia. Section 65(1) of the Malaysian Takaful Act, 1984 stipulates that the payment of takaful benefits is made to the proper claimant. Section 65(4) explains that the ‘proper claimant is a person who claims to be entitled to the sum in question as executor of the deceased or who claims to be entitled to that sum under the relevant law. 8.2The concept of ownership in Takaful benefit Islamic law provides four legitimate means for acquiring absolute ownership[13]: (i) The contract of exchange such as trading and leasing contracts, and unilateral contracts such as wasiyyah, hibah and waqf, (ii) the replacement, or khalafiyyah, i.e. inheritance, the payment of diyyah and compensation, (iii) the control over permissible things such as fish in the sea and birds in the sky and (iv) The growth and the production of things owned such as eggs, milk, etc. Takaful benefit falls under the second part of the first category, i.e. unilateral contract (tabarruat). It could be contended that without the participation of the policyholder, the takaful operator would never pay the money. In other words, it is the contract entered into by the policyholder for family takaful, which generates the benefits. This contention is based on the fact that ones effort becomes a justification for ownership. As a result, the money is divisible among the heirs of the policyholder according to the law of farÄ `id. 8.3The takaful benefit to sole beneficiary vs. to the legal heirs Takaful contracts realize the obligation upon the company to pay. They do not create wealth in the insureds ownership, but rather they create an obligation to ease the burden suffered due to the losses of fellow participants. The participants contribution is his or her donation for the good of others, not for himself. The proceeds payable belong to the fund of the participants, not the takaful operator. Therefore, even though it is the deceaseds effort, the money is more appropriately to be regarded as an obligation upon the takaful tabarru fund to pay on behalf of other participant as financial assistance to the insureds family in case of death. This is the importance of considering a legal and financial entity for the fund. This monetary obligation is directly based on the agreement or promises of mutual assistance stated in the contract. In other words, the tabarru fund managed by the takaful operator on behalf of the participants agrees to pay the proceeds, and the matter of to whom they are paid should be freely and totally left to the agreement or the stipulation made by the policyholder to the company. This is similar with the condition made by the performer of wakf as he stipulated condition is binding. The primary objective of takaful is to provide financial assistance to the participants family. If the payment is payable strictly only to the heirs of the participants or insured, it implies that it is the property of the deceased. If this is so, the money is subject to the fulfilment of certain rights that must be carried out before distribution to the heirs, such as the payment of burial expenses, the deceaseds debts. This would mean that the compensation is not being used to ease the burden of the family but rather it seems that other fellow participants are under an obligation to settle the debts of the dead participants. In this regard, the creditors would have prior rights over the participants dependants. The dependants would only receive the benefits after the creditors claims have been satisfied. As such, inserting a clause legally and strictly imposing a duty on the appointed nominee to distribute the money among the legal heirs of the dead participant seems to contradict the objective of both the takaful. Inserting such a clause as currently practiced in Malaysia is not based on valid arguments. Furthermore, by considering it an estate for inheritance purposes, the takaful and insurance activity becomes a source of income. This is contradictory to the purpose of takaful i.e. mutual cooperation to ease a burden. Interestingly there are a number of contemporary fatwas allowing the distribution of takaful benefit to a particular beneficiary which is the common practice in the conventional insurance. The SAC of Bank Negara in its 34 meeting held on 21st April 2003 resolved: Takaful Benefit can be used for hibah since it is the right of the participants. Therefore the participants should be allowed to exercise their rights according to their choice as long as it does not contradict with Shariah. The status of hibah in takaful plan does not change into will (wasiah) since this type of hibah is a conditional hibah, in which the hibah is an offer to the recipient of hibah for only a specified period. In the context of takaful, the takaful benefit is both associated with the death of the participant as well as maturity of the certificate. If the participant remains alive on maturity, the takaful benefit is owned by the participant but of he dies within such period, then hibah shall be executed. A participant has the right to revoke the hibah before the maturity date because conditional hibah is only deemed to be completed after delivery is made (qabd). The Participant has the right to revoke the hibah to one party and transfer it to other parties or terminate the takaful participation if the recipient of hibah dies before maturity The takaful denomination form has to be standardized and must stipulate clearly the status of the nominee either as a beneficiary or an executor (wasi) or a trustee

Theodore Dreiser Essay examples -- essays research papers fc

Theodore Dreiser Theodore Dreiser was born August 27, 1871 in Terre Haute, Indiana. The younger brother of Paul Dresser, a well-known songwriter, Theodore was a famous novelist known for his outstanding American writing of naturalism. He was also a leading figure in a national literary movement that replaced the observance of Victorian notions of propriety with the unflinching presentation of real-life subject matter. Even though a majority of his works were about his life experiences, he also wrote about new social problems that had risen in American at the time as well as things sexual in nature. Dreiser was born the ninth of ten surviving children in a family that was stricken with life-long poverty. His father was a German immigrant that was mostly an unemployed mill worker with a strict attitude because of his narrow Roman Catholic belief. His mother had a Czech Mennonite background and she was a fair lady that was always compassionate to her son. Because of the family’s severe degree of poverty, they moved frequently between small Indiana towns and Chicago in search of a better cost of living. Dreiser did not have much of an education in his lifetime. He attended parochial and public schools including a year at Indiana University in 1889-1890 throughout his academic years. He began his career as a newspaper reporter in Chicago in 1892 before working his way to the East Coast. While living on the East Coast in 1894, Dreiser found a job working for a Pittsburgh newspaper. In the same year, he move to New York City and started working for several newspapers and magazines. Dreiser would soon meet a woman named Sara White and they would get married in 1898. The marriage did not last that long due to his roving affections and resulting infidelities causing their divorce in 1912. Dreiser began writing his first novel, Sister Carrie, in 1899 at the suggestion of a newspaper colleague. Doubleday, Page and Company published the novel the following year, than ks in part to the great enthusiasm of the firm’s novelist, Frank Norris. The story line of the novel was about a young kept woman whose "immortality" goes unpunished. The publisher was not fond of the story line and decided to limit the book’s advertising. Because of the limited advertising, the book sold only 465 copies and Dreiser made less than $100 dollars on the deal. In 1890, the dis... ...erty level. He always spoke and wrote of his mother being affectionate and caring at all times. Theodore Dreiser was born in Terre Haute and lived in Indiana until the age of eighteen. He was born into a family that was stricken with poverty and he had little hope of making it big in the real world. Dreiser did not have much of an education nor any experience in writing. Through hard work and dedication, he ended getting a job in Chicago for a newspaper and then moving to New York a few years later. In New York, Dreiser also got many jobs for magazines and newspapers. While living in the city, he wrote a majority of his famous works. Dreiser’s most famous works were Sister Carrie and An American Tragedy. In 1938, he moved to Los Angeles with his mistress, Helen Richardson. Dreiser continued on writing literary works until his death in 1945. Theodore Dreiser was a well-known novelist and a great man as well as a historic member of the Terre Haute area. Bibliography Bibliography Gerber, Phillip. Theodore Dreiser, Chicago, Woodford Publishing., 1986, pp. 34-75 Warren, Robert Penn. Homage to Theodore Dreiser: His World and His Novels, New York, Coleman Publishing., 1975, pp. 82-140

Weltys Characterization in A Curtain of Green Essay -- A Curtain of Gr

Welty's Characterization in A Curtain of Green      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Myth, symbol, and allusion are not an uncommon characteristic in Eudora Welty's works. By using characters such as Odysseus and leaving hints of symbolism in works such as The Optimist's Daughter Welty places many questions in the minds of her readers. After a reader has pondered these questions a categorization of the story takes place in the readers mind. Although different readers have different interpretations of literature one collection of Welty's short stories can be classified into two categories. Katherine Anne Porter's introduction to Eudora Welty's A Curtain of Green explains the two categories:    as painters of the grotesque make only detailed reports of actual living types observed more keenly than the average eye is capable of observing, so Miss Welty's little human monsters are not really caricatures at all, but individuals exactly and clearly presented: which is perhaps a case against realism, if we cared to go into it. She does better on another level-for the important reason that the themes are richer-in such beautiful storiesLet me admit a deeply personal preference for this particular kind of story, where external act and the internal voiceless life of the human imagination almost meet and mingle on the mysterious threshold between dream and waking, on reality refusing to admit or confirm the existence of the other, yet both conspiring toward the same end. (xxi)    According to Porter the two categories found in A Curtain of Green are that of grotesque or monstrous and that of beauty or standing on the gateway between consciousness and unconsciousness. Acknowledging that there are two categories for Welty's stories Porter also address'... ...989): 59-70.    Boyce, Charles. Shakespeare A to Z . New York: Dell, 1990.    Brown, Alan. "Welty's A Curtain of Green." The Explicator 51.4 (1993) 242-44. Encarta Learning Zone. 1997-2000. Dionysus. 24 April 2000 <http://encarta.msn.com/find/Concise.asp?ti=057f8000>    Hauser, Marianne. "A Curtain of Green" The New York Times. 17 April 2000. http://channel.nytimes.com/books/98/11/22/specials/welty-curtain.html    Mythology The Myth of the Phoenix. 17 April 2000. http://www.geocities.com/Tokyo/Towers/1132/phoenixlhtm    Porter, Katherine Anne. Introduction. A Curtain of Green. By Eudora Welty. New York: Harvest, 1979.    Sykes, Dennis J. "Welty's 'The Worn Path.'" The Explicator 56.3 (1998): 151-53.    Welty, Eudora. The Collected Stories of Eudora Welty New York: Harvest, 1994.