The Heart and the Circulatory essays

The Heart and the Circulatory expositions The Heart and the Circulatory System Envision that you are living in the year 1535, and that you don't feel well. You have had a few issues with weakness, feeling somewhat more drained than common when you strolled to the market and back. You advise this to your doctor, and he sends you to another doctor down the road, letting you know there might be some issue with your course. At the point when you get to the new doctor, he reprimands you to bring your shirt and rests on the seat. After a brief glance in your mouth, he says your crucial blood is most likely O.K. In any case, he's worried that perhaps your nutritive blood isn't being made quick enough. At that point he begins to look about on your mid-region. He makes reference to that your liver is somewhat augmented and recommends that possibly you have not been eating enough green verdant vegetables or protein. Hold up a moment! You have come in with issues with your course, and this person is discussing your liver and the sort of nourishments you have been eating! What is happening here? Where did this individual figure out how to rehearse medication at any rate? Disarray over the idea of the heart, the blood, and the job of the blood in the body had existed for a considerable length of time. Pliny the Elder, a Roman essayist who lived from AD 23-79, and writer of a 37-volume treatise entitled Natural History, expressed The courses have no sensation, for they even are without blood, nor do they all contain the breath of life; and when they are cut just the piece of the body concerned is paralyzed...the veins spread underneath the entire skin, at long last consummation in exceptionally meager strings, and they thin down into such an amazingly minute size, that the blood can't go through them nor can whatever else yet the dampness dropping from the blood in incalculable little drops which is called sweat. After a century Galen, a Greek doctor who lived in the second century AD., spent his lifetime in perception of the human body and its working. Galen accepted and showed his stud... <!

Soccer and Camp Nou Essay Example

Soccer and Camp Nou Essay Soccer is all around the most famous game on the planet, such huge numbers of footballers step into the pitch to make minutes that will go down perpetually ever. Camp Nou is home to my preferred soccer group which is FC Barcelona and it is where I have seen numerous exceptional minutes. The Camp Nou is exceptional to me since I saw perhaps the best second in the game at that area, which I will always remember. Despite the fact that I have never by and by stepped on the Camp Nou, it is one of the most delightful and moving scenes one would ever observe. When you put your focus on it you will get entranced and nothing can occupy you from the game that is being played. The Camp Nou has such a significant number of subtleties that one individual can't feature every one of them without anyone else. To me, a soccer pitch is where I put my focus on and it and each stress or stress that I had before is gone. School, companions, and stress all vanish from my psyche after the game beginnings a nd everything I can concentrate on are the 22 footballers giving everything for their club. The measure of individuals you find in the stands is amazing as they all meet up to root for or boo their group. Spectating a round of soccer you simply observe fans encompassing the entire arena and how each club has a tune that the fans sing first and foremost and end of a game. It truly is noteworthy to see the players stroll through the passage with every one of them having a mascot, and perceiving how these little children admire these players. A soccer arena is in excess of a spot where a game is played however it is all the more so a situation where fans commend the significance of a group or to observe wretchedly their group lose. In soccer, pundits perceive what number of objectives you have scored at your club and rank you based off that, however in soccer there are such huge numbers of components that a player can add to his group. So as to score you need to kick the ball through the objective and genuinely it is the principal thing that gets my attention when Im We will compose a custom exposition test on Soccer and Camp Nou explicitly for you for just $16.38 $13.9/page Request now We will compose a custom article test on Soccer and Camp Nou explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom article test on Soccer and Camp Nou explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer

How to Sell Trees for Timber

Step by step instructions to Sell Trees for Timber Would you be able to sell your tree for wood and make a benefit? Timber from trees, for example, red or white oak, dark pecan, paulownia, and dark cherry is very costly, and the tree in your yard may contain a great amount of wood. While it is conceivable to sell one (or a few) trees for wood, research and exertion are required to get a decent cost from a legitimate purchaser. Prior to making the move, thoroughly consider the advantages and disadvantages. Would You Really Like to Remove Your Tree? Prior to looking for a purchaser for your tree, be certain you know why youre expelling a significant hardwood tree from your yard. Are its underlying foundations harming your establishment? Is the foliage overpowering your home? Or on the other hand would you say you are only anxious to have more grass? On the off chance that theres no strong motivation to evacuate the tree, its worth might be more prominent in your yard than at a sawmill. An enormous hardwood tree gives conceal, which cools your home and brings down cooling costs. It additionally improves air quality, controls water spillover, and raises your property estimation. What's more, your tree may give homes to warblers and other local creatures. Step by step instructions to Sell a Single Tree It is commonly a lot simpler to sell trees as a major aspect of a woodlot gather, where numerous trees are sold and collected simultaneously. To chop down your tree, a timber purchaser must acquire workers, a log truck, skidder, loader, and other gear. He should then cut the logs and take them to the factory to sell. After costs, its far-fetched that hellfire bring in any cash from cutting a solitary tree except if its phenomenally important. In the event that youre resolved to sell your tree, your best choice may be to search for an administrator who possesses a little, versatile sawmill. Little administrators have less overhead, and they bring in their cash discovering single living or dead high-esteem trees, at that point sawing the timber to determinations that are appealing to carpenters and turners.â Tips for Selling Multiple Trees In spite of the fact that its simpler to sell timber from different trees in light of the fact that the net revenue is such a great amount of more noteworthy for the forester, there are entanglements regardless of whether youre selling a considerable amount of wood. One messed up deal can cost you a significant part of the estimation of decades-old timber and can adversely impact future harvests. Here are recommendations for selling various trees: 1. Locate a Professional Forestry Partner Selling timber requires master counsel. Studies show that timber venders utilizing an expert forester get up to 50 percent more for each deal. A forester who sells trees professionally and rehearses inside your deal region will be your best accomplice; he will know timber item evaluations and values and be comfortable with nearby timber purchasers and the general market. Private foresters normally offer their administrations for a charge. Timber proprietors frequently discover this cost more than counterbalance by the higher selling cost got for their timber. Find aâ foresterâ and hear him out as you would to a specialist or legal counselor. You and the forester will at last need to figure out which trees ought to be cut and how they ought to be reaped. Your accomplice will likewise assist you with estimating your treesâ volumesâ and esteem. To locate an expert forester, as per the U.S. Woods Service: contact your administration or County Agricultural Extension or Forestry Extension specialist. Administration ranger service work force are frequently situated inside the state Department of Natural Resources, Division of Forestry, or Forestry Commission. Expansion Forestry work force are regularly situated at your nearby Land-Grant college in the Forestry Department. On the other hand, you can visit the site of the Cooperative State Research, Education, and Extension Service, which contains connections to each state free administrations, frequently including ranger service help by proficient foresters. 2. Comprehend the Value of Your Timber As a timber producer, you should know something about the quality and estimation of the timber you are selling. Recall that each tree has extraordinary attractive qualities and related volume. Your forester accomplice willâ inventoryâ the timber for these attributes and give a gauge of volumes (alongside evaluated esteem) accessible for reap. This report would then be able to be utilized to assess a reasonable value you can expect for your deal. From the stock, you can hope to know: The sort of timber backwoods items youre developing: Different costs are paid for various timber products.The timber species you have available to be purchased: Some species order more significant expenses than others because of appeal, low flexibly, or uncommon qualities.The nature of your timber: Quality influences timber esteems as it does some other product.The volume of timber you can sell: Logging requires overwhelming hardware and representatives, so bigger volumes of timber mean higher benefit margins.The good ways from the nearest showcase: Transportation of woodland items is costly. Neighborhood plants ought to have the option to follow through on greater expenses for your items than progressively removed mills.The size of your trees: Generally, bigger trees bring the best costs. Huge saw logs and shafts are worth more than little ones. 3. Recognize Prospective Timber Buyers and Send Timber Prospectuses You should now distinguish imminent purchasers. Your forester accomplice in all probability will have a rundown that he works from. You may likewise need to set up a rundown of purchasers in the region of offer just as in encompassing districts. Call your state foresters office or state ranger service relationship for a rundown of buyers.â Mail an outline and offer greeting to every purchaser inside your acquirement district. A fixed offer framework ought to be utilized and by and large outcomes in the most noteworthy selling price. A offer outline ought to be straightforward yet educational and include: Date, time, and area of the offer openingTerms of paymentTimber item, species, and volume summaryLocation mapBid formInformation about the store/execution bondStatement of merchants rights to dismiss bidsNotice of a show-me voyage through deal territory The potential purchaser will most likely demand inspecting the timber available to be purchased before making an offer. A visit or show-me meeting on the timber site permits every single intrigued purchaser to check the volume and nature of the timber and to assess their logging costs. They ought to likewise be permitted to review and keep a duplicate of the agreement or understanding you connect to the deal. 4. Comprehend Your Timber Contract After all offers are gotten, you and your forester accomplice ought to inform the most elevated adequate bidder and organize to execute a writtenâ timber contract. Any store or execution bond settled upon ought to be gathered. Duplicates of the agreement ought to be set up for purchaser and merchant. Despite the size of the timber deal, a composed agreement forestalls misjudging and ensures the purchaser and vender. The agreement ought to contain, at any rate: A portrayal of the timber saleThe selling priceTerms of paymentWhich timber will and wont be cutTime permitted to cut and expel timberA necessity for adherence to all ranger service Best Management Practices Exceptional arrangements may incorporate cutting expansions; the area of log arrivals, streets, and slide trails; conditions under which logging wont be allowed; assurance of remaining timber and other property; a system for settling questions; duty regarding rapidly spreading fire concealment; removal of litter; subcontracting of parts of the work; disintegration and water quality control measures; and contractual worker risk rejections. A simple route for aâ do-it-yourselferâ to rapidly stumble into difficulty is selling timber utilizing singular amount an incentive with just a handshake and without a tree stock. Dont sell singular amount without a timber stock, an agreement, and an initial installment. Another approach to fall into large difficulty is selling your timber on a compensation as-cut premise while allowing the purchaser to buyer and measure logs without you or an agent reviewing his work. Pay-as-slice permits the purchaser to pay you by the log load, so you or your forester accomplice should confirm the measure of timber in each heap. To ensure terms of the timber deal contract are being met, it is possible that you or your specialist ought to review the activity a few times during the collect and upon culmination. 5. Time Your Sale Wisely Timing is significant in getting the best cost for wood. The best time to sell, clearly, is whenâ demand for timber is up and costs are at a pinnacle. This is more difficult than one might expect, yet you ought to know about current stumpage costs and economic situations in your general vicinity. Your forester accomplice can assist you with timing your deal effectively. Except for a particular calamity (from nuisances, climate, or fire), you shouldnt be hurried into a deal. Trees, in contrast to other homestead items, can be put away on the stump during poor markets. One consistent that history consistently affirms is that timber esteems inevitably go up. 6. Secure Your Land After the Harvest Is Complete Steps ought to be taken following harvest to shield the land from disintegration and to guarantee the profitability of this future woodland. Streets, slide trails, and logging decks ought to be made sure about and reshaped if essential. Uncovered territories ought to be seeded with grass to forestall disintegration and give food to untamed life.

Securitisation In Islamic And Conventional Financial Systems Finance Essay - Free Essay Example

In this chapter the basic features of securitisation used in Islamic and Conventional financial system is presented in respect to the structures of bonds and derivatives. Over the years securitisation has developed into a significant financing tool, offering credit to both the public and the private sectors. In particular, we have seen that under the Subprime mortgage crisis the US credit markets relied heavily on the shadow banking system provided by securitisation to satisfy their financing needs. There are various kinds of products in the financial market used for the purpose of securitisation. The key motivation for the employing the tools of securitisation include cheaper funding, regulatory capital relief, arbitrage and balance sheet considerations.  [1]  We have discussed in previous chapters that due to the non performance of the loans financial institutions were strapped into liquidity problems. This issue diverted the financial institutions to relay on the bond market to support their financing needs instead of looking for bank loan financing and equity financing for required funds. A bond is kind of a loan or a debt security. In conventional bond structure the issuer of the bond is like debtor and the holder of the bond is like a creditor. The bond issuer owes the holder a debt and pays the holder of the bond fixed interest, until the date of maturity when the principal amount is due. We have discussed in the previous chapters that interest and debt based transact ion in there nature lead to inequity and instable economic situations. And their malfunctioning can be termed as a major element attracting the crisis over the years.  [2]  Bonds are termed as a source of external funding for the issuer to finance his long term financial projects. Bond holders have a creditor stake in the company for a definite term.  [3] Sukuk (plural of Sakk), commonly referred to as Islamic bonds, are proportional undivided ownership rights in tangible assets, or a pool of assets, or in the assets of a specific project or investment activity. Sukuk are used in Islamic financial sector as alternate of conventional notes. Sukuk have developed as one of the most significant mechanisms for raising finance in the international capital markets used by Islamic financial institutions as an alternative to syndicated financing  [4]  as a proportionate interest in the well defined pool of specific assets to yield income and capital interest. The funds raised through the issuance of Sukuk are applied to investment in specified and particular assets rather than for general or undetermined purposes. Identifiable assets provide the basis for Islamic bonds. Since the Sukuk are based on the real underlying assets, income from the Sukuk relates to the purpose for which the funding was used. The Sukuk certificate represents a proportionate ownership right over the assets in which the funds are being invested. The ownership rights are transferred, for a fixed period ending with the maturity date of the Sukuk, from the original owner (the originator) to the Sukuk holders. The process of issuing Sukuk involves the following steps: Origination of assets from Shariah compliant assets. Transfer of the assets to a Special Purpose Vehicle (SPV) which issues after packaging them into securities (Sukuk); and Issuing of these securities to investors. The main difference between the both Islamic and conventional bonds is that issuance proce ss of Islamic bonds should be approved by Shariah principles while the issuance process of the conventional bonds only requires the acceptance or approval of securities commission. Conventional bonds are the debt of the issuer while on the other hand Sukuk is the like an undivided ownership share in specific assets. So the owner of the bond has an ownership claim on the specific assets. But in case of conventional bonds it is the creditors claims on the borrowing entity and in some cases liens on assets as well. Conventional bondholders do not have any responsibilities for the circumstances of the issuers, while the Sukuk holder has a responsibility for defined duties relating to the underlying assets. Sukuk structures have real assets at their core and their structure is based on assets, equity and it could be debt based as well while the conventional bonds are based by large on loans. And ultimate users of Sukuk bonds are both Islamic and conventional investors but Islamic investo rs can not use the conventional bonds as their trading is against the principles of Shariah laws.  [5] Conventional bonds as we know are the sale of debt, which is prohibited under Islamic financial system. Derivatives A Zero Sum Game of Small Investments with Large Consequences For many around us Casino type trading is and was considered more than a threat to the financial system. This breed of synthetic products was identified as Financial Weapons of Mass Destruction  [6]  and for this indistinguishable rationale Alexander Lamfalussy cautioned against the use of derivatives that enhance instability and increase systematic risks against the backdrop of global markets.  [7]  In the global economy, flexibility and innovational methodologies of derivatives makes them very dominating among other assets in respect of growth and popularity.  [8] Derivatives are useful alternatives for holding the underlying commodity or financial asset. They are being used on a large magnitude in financial markets by individuals (for leveraging or gearing), by institutional investors (for asset allocation strategy), by corporate treasurer (for hedging exposure and for enhancing yields) and by banks /ot her financial intermediaries (for their strategic risk management features and for hedging etc).  [9]  As compare to the amount of money needed to buy an actual commodity or financial asset they require a relatively small amount of capital to trade.  [10] Derivatives became an enigma due to the development of a complexity over their basic working, purpose and mechanics. They were created to manage risk and enable hedging, but the troubling part is that they are largely used for speculation, against their projected purpose.  [11]  The current financial crisis is largely blamed on the speculative usage of derivatives. According to OCC only 2.7% of total derivatives are used by end users, (i.e. corporations assumed to hedge their risks); while the remaining 97.3% is used by dealers (OCC 2005)  [12]  concluding hedgers as minorities while the speculators an obvious majority working in the financial market. The three main users of derivative products are as follows: H edgers They use futures to lock in an acceptable margin between their purchase cost and their selling price. Hedgers make purchases and sales in the futures market for the purpose of establishing a known price level for something they later intend to buy/ sell in the cash market to protect themselves against the risk of an unfavourable price change in the interim.  [13] Speculators they trade in derivative market with a higher than average risk in return for a higher than average profit potential especially with respect to  anticipating future price movements, in the hope of making quick, large gains.  [14] Arbitragers in the hope of profiting from the price differential, they purchase securities from one market for their immediate resale in the new market. It is basically speculation about the differences in prices of commodities and assets in different markets. Islamic Financial System introduced different contractual structures (described above) in which de rivatives can be formulated. But the main principle around which they all are developed is the same as prescribed by Shariah laws i.e. there is a freedom of contract under Islamic Financial System transactions but it should be free of Interest, Uncertainty and Gambling Underlying asset must exist that Must be owned by the party willing to sell and Must be envisaged to be delivered.  [15] Islamic derivatives advocate fairness and risk sharing between parties under ethical investment and substance contract. The terms on which transaction will take place should be known, any operation apart from it for example Where time of delivery is not known, or where there is ambiguity in presence of some transactional product or There is excess of inequality, or Delay in delivery of dissimilar products etc these operations are not permitted under IFS. Derivatives issued and formulated under IFS are for sole purpose of hedging as there is no speculation allowe d under IFS. These derivatives are risk management structures to manage currency risk in a global trend and yield curve risk movement to determine the cost of the production. Islamic derivatives are new and are subject to new changes and developmental issues. The economic effect of both conventional and Islamic derivatives is the same except that Islamic derivatives can only be used for hedging and covering risk and not for speculation and hence deemed to be more restrictive for the impacts that caused current global crisis. A derivative is a unique value holder; a financial instrument independent from the underlying asset from which it derives its value. It is an independently tradable entity with referable value to its underlying asset. Types of conventional derivatives include; Forwards, Futures, Options and Swaps. Naked Short Sale In order to create hybrid instruments these forms are usually combined together with traditional securities, loans and bonds. The Forward contracts are customised, simplest in form and risk-exposed contracts for future trade which are undertaken between two parties with diametrically opposing needs to complete a transaction at a future date at a price that is determined today. Their prices are determined by negotiation so a party in a better bargaining position may be able to exploit the situation in their favour. This transaction bears a counterparty risk, i.e. the risk to one party for the default of other. The Futures contract is a standardised exchange-traded, daily-settlement contract with respect to contract size, maturity, product quality and place of delivery where physical delivery hardly ever takes place. These contracts carry fair prices which arrive at by the interaction of many buyers and sellers against exploitations. Unlike forwards they manage to avoid a number of problems like multiple coincidences and Counterparty risk, as the exchange or the clearing house itself is the guarantor f or each trade by being the buyer to each seller and the seller to each buyer .  [16]  Exchange minimises its risk of default by Margining and Marking to Market methods. Under Margin Call each party deposits initial deposits/margins, then the party whose position is losing, pay up as the loss occurs. Marking to market refers to the gain or loss in each contract position. The above mentioned gain or loss is determined by change in the price of the futures or option contracts at the end of each trading day by adding or subtracting from each account balance.  [17] An Option entitles the holder the right (not an obligation) to buy or sell the underlying asset at a predetermined exercise price anytime before maturity against a premium. There are three types of options: A Call Option, A Put Option and a Double Option A Call Option provides the holder a right to buy and a Put Option provides the holder a right to sell the underlying asset at a predetermined price, wh ile a Double Option is a right of the holder, either to buy from or sell to the grantor a specified underlying asset at a predetermined price during a fixed period.  [18] In futures and forwards there will be an obligation to exercise the contract, unless the holder reverses his position before maturity. Inactivity will cause him to pay compensation or deliver the commodity, however, for options no such obligation exists at maturity, inactivity will just cause the option contract to expire and the premium paid will be lost.  [19] Swap is a multiple of forwards with periodic settlement of contractual agreements, based on a predetermined notional amount of the underlying asset in which two parties agree to exchange payments over a period of time.  [20]  For instance interest-rate swaps and currency swaps, they control effective management of both balance sheets and risk profiles.  [21]  In Swap Contracts two parties exchange benefits (cash flows) resulting from a giv en asset or liability. This is very much like a specialized, time limited barter arrangement. For example, two firms, one with a loan on a fixed interest rate over ten years and the other with a similar loan on a floating interest rate over the same period, may agree to take over each others interest obligations, so that the first firm pays the floating rate and the second pays the fixed rate. If one is careful with regards to Interest (Riba) on physical trades, these contracts can be Islamically justified and could be used regularly in the commodities swap markets. Alternatives to conventional derivatives Islamic finance system have developed Islamic derivatives that comply with the rules of Shariah. Their structure uses a combination of different contracts. These instruments may include the following contractual structures; Salam Istasnah, Urbun, Waad Jialah Bai bil-Wafa Bai bil-Istighlal Bai Sarf Murabiha contract Islamic Swap etc A brief su mmary of the most commonly used Islamic financial derivatives are: Salam is a clearly beneficial transaction to the seller where two parties agree to carry out a sale or purchase of an underlying asset at a predetermined future date and fully cash paid price. So before the performance of transaction on the part of a seller is reached, price is determined at a lower than the prevailing spot price for today. The customized nature of Salam makes it closer to Forward contracts. Thus Salam carries the same problems of forwards like double coincidence and negotiated price but counter party risk is avoided under the transaction as buyer can take guarantee or mortgage as security against default.  [22] Note: It is similar to a conventional forward contract with a distinction of full payment in cash to help needy farmers and small businesses with working capital financing, whereas, prohibiting the partial payment as it would signify the use of credit. The subject matter of Salam has to possess defined and clearly specified qualities. If the commodity is destroyed, seller can buy the same from anywhere he wants for the buyer (avoiding the element of Gharar). Salam contract is used for financing the agricultural sector and by banks to purchase a good and then resale through a parallel Salam.  [23] Under Istasnah contract, a buyer contracts with a manufacturer a needed product under specifications upon agreed and fixed price. Unilateral cancellation of the transaction is possible by either party before production begins. Unlike the Salam Contract neither time of delivery or payment in advance is made. Under Urbun, the buyer who intends to buy a certain commodity in the future pays a predetermined amount to the seller as a down- payment. If the buyer purchases the commodity, the down- payment is counted towards the total price for the commodity. If buyer decides not to buy the commodity, the down- payment is forfeited to seller.  [24]  By virtue of h olding equal and opposite option positions on the same strike price, both parties are obliged to honour the terms irrespective of changes in asset value. The sequence of periodic and maturity-matched put-call combines with a zero-cost structure and preserves equitable risk sharing consistent with IFS entrepreneurial investment. Unlike in conventional options, there are no unilateral gains from favourable price movements in the range between the current and the contractually agreed repayment amount. Any deviation of the underlying asset value from the final repayment amount constitutes shared business risk in existing or future assets.  [25] Note: urban looks as if it is parallel to an option contract yet there are serious differences between them. As under profit and risk sharing principal both parties are required to bear the risk of the transaction as the seller may not sell and the buyer may forfeit his down-payment consequently putting the burden of risks on one party is st rictly prohibited. The purpose of Urbun is to secure future purchase of the commodity, unlike option the total price of the commodity is known to the parties at the time contract is entered into and the client does not need to bet on future price of the commodity. The down payment in the transaction is treated as a guarantee showing a serious intention to buy the commodity and latter as compensation to the seller in case the buyer withdraws from the purchase. This payment is counted towards the total price of the commodity upon purchase. While in an option contract the seller sells his right (in the context of Ikhtiyarat) against his property to buyer for a premium, as he is buying an Opportunity from seller to entitlement him to have first right to purchase underlying asset for an agreed price on an agreed term in the future. Waad is a unilateral and legally binding promise and in the context of a classic Murabiha sale resembles a conventional sale and deferred payment model. Wa ad is morally binding and may be enforceable at court, if: (a) If it is a unilateral promise, binding only one of the parties to the Murabiha; and (b) The promise has caused the promisee to incur some liabilities.  [26]  The Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI) has endorsed the extension of the Waad to currency exchange transactions within an Islamic framework .  [27]  The Waad can be used to structure an FX (i.e. currency) option. In this regard, Shariah distinguishes between the creation of an option and the trading of an option. The creation of an option for genuine trade hedging purposes is broadly viewed as permissible, as it reduces uncertainty (Gharar) and is therefore regarded as contributing towards the public good (Maslaha). However, the trading of an option without any accompanying purchase or sale of underlying tangibles and undertaken solely with the objective of making a speculative gain is regarded as impermissi ble as this is looked upon as increasing Gharar. The currency option is conceptually accepted by many scholars and the promisor may be eligible to receive a fee for facilitating the transaction. The cash-flows under an FX option using a Waad emulate the cash-flows under a comparable conventional FX option.  [28] Jialah contract is essentially an Istasnah but applicable for services as divergent to a manufactured product. Under Bail bil-Wafa seller sells an asset to a buyer who pledges to sell back the asset to the original owner at a predetermined future date making it a fusion of sale and pledge (the pledge being to sell back to the owner and not to a third party). Note: This transaction is very near to repurchase agreement as the buyer has rights to benefits from ownership of the asset. A repo is equivalent to a cash transaction combined with a forward contract. Except that the resale price and original purchase prices must be the same. Under the transaction of Bai b il-Istighlal the buyer promises to resell at a predetermined future price and to lease the asset to the seller in the interim period. It is a convenient mean to provide short or medium term financing. The bank first purchases the asset and then leases it the customer before finally reselling it to the customer. The Istijrar Contract embedded options that could elicit if an underlying assets price exceeds certain bounds. It involves two parties; A buyer which could be a company seeking short term working capital to finance the purchase of a commodity approaches a bank. The bank purchases the commodity at the current price and resells it to the company for payment to be made at a mutually agreed upon date in the future.  [29] Islamic banks are increasingly looking for ways in which to hedge their exposures i.e. mismatches between underlying portfolio payments and payments due from an originator, lender or project company in securitisations, loan structures and project fi nancings.  [30]  This agreement is a customised and privately negotiated hedging tool that confirms to the principles of Islamic finance. It is designed for use with Shariah-compliant hedging transactions that use murabaha contracts. This document is prepared to give the industry access to a framework of document which is neutral in terms of treatment to both the trasacting parties and strictly comfirms to Shariah principles and will provide the critical frame work for the growth and evolution of Shariah compliant hedging instrument. Under this agreement two types of transaction can take place; In which the parties agree that they will enter into at a future date or the transactions which one party undertakes pursuant to a waad, to enter into at a future date at the election of the other party. The agreement to enter into such transactions is referred to as a DFT terms agreement. Which will be confirmed by a DFT terms confirmation. Until they are entered into, DFT do not constitute transactions for the purpose of the agreement and are therefore treated differently from concluded transactions (most notably in relation to close-out). However, once entered into, DFT constitute transactions for the purposes of the Agreement.  [31] Islamic Profit Rate Swap (IPRS) and the Islamic Cross Currency Swap (ICCS) are most commonly used swaps. IPRS is used to swap or exchange floating payment obligations with fixed payment obligations while ICCS is used to hedge against fluctuations in currency rate (by swapping or exchanging a series of profit payments in one currency for another). The common underlying Islamic contracts used by the banks in Islamic swaps are commodity Murabiha and Waad. Other common uses of Islamic derivatives are for foreign currency exchange purposes. For the purposes of hedging the exchange rate prices, Islamic banks enter into transactions to exchange different currencies at a future date but at a rate decided today. The Islami c contracts that are used to support these transactions are the Waad, commodity Murabiha and also Bay-Muajjal.  [32] Shariah-compliant swap transactions are traded bilaterally and combine opposite, maturity matched Murabaha contracts with instantaneous (or periodic) transfer of similar assets and delayed payment of the sales price (inclusive of a premium payment for the use of the asset until the maturity date). The basic structure of a ICCS matches two commodity Murabaha sale contracts that generate offsetting cash flows in opposite currencies with maturities desired by the contracting parties. The following example illustrates the functioning of a ICCS .Consider the case of a Malaysia-based Islamic bank that raises revenue in Malaysian Ringgit but faces payments in US dollars over a certain period of time. To eliminate this foreseeable currency mismatch, the bank could substitute its future outflows in US dollars for outflows in Malaysian Ringgit by entering into a CCS with a US dollar-paying counterparty. Under this contract, the Malaysia-based Islamic bank purchases an amount of commodity A on a Murabaha basis (i.e. against future instalments) denominated in Malaysian Ringgit and sells it forward against payment in US dollars. Simultaneously, a GCC-based Islamic bank buys an amount of commodity B, also under a Murabaha agreement, but denominated in US dollars and sells it forward against payment in Malaysian Ringgit. By combining the two Murabaha contracts, each denominated in a different currency, each party will be able to receive cash flows in the desired currency. Finally, both banks sell their respective commodities in order to recoup their initial expense, where the fair value of each commodity (A and B) should wash out at the prevailing exchange rate.  [33] A profit rate swap is best analogised to a conventional interest rate swap. Under the profit rate swap, the parties enter into Murabaha contracts to sell Shariah-compliant assets to each other for immediate delivery but on deferred payment terms. A term Murabaha is used to generate fixed payments (comprising both a cost price and a fixed profit element) and a series of corresponding reverse Murabaha contracts are used to generate the floating leg payments. The cost price element under these Murabaha contracts is fixed but the profit element is floating. This structure, in effect, is not dissimilar to the parallel loans structure. It should be noted that a profit rate swap may also be structured as a series of Waad whereby each party undertakes to the other to swap relevant fixed and floating rate payments at some particular point of time in the future. Under a conventional interest rate swap the parties agree to exchange periodic fixed and floating payments by reference to a pre-agreed notional amount. As with many conventional derivative products, a conventional interest rate swap, is prohibited Islamic Financial System because of the overarching requiremen ts for a transaction for a number conditions for example, Riba the receipt and payment of interest (the effective exchange of interest payments being fundamental to an interest rate swap); Gharar Identifiable object characteristics (quantity and quality) of a bona fide trade and/or certainty about delivery resultsin order to avoid Gharar. uncertainty in the principal terms of a contract (for example price, quantity or material characteristics of any asset sold and hence under a conventional interest rate swap the agreement to make future payments linked to a floating rate); and Maysir gambling or speculation in contracts (and accordingly, conventional contracts of insurance and particular futures and options contracts viewed as akin to gambling are prohibited). Price certainty and balance between borrowers (protection buyers) and lenders (protection sellers) Asset ownership and prohibition of both short selling and leverage (under funding) Islamic Financial Syst em arranges the transaction in such a way that the parties gain the benefit of the positive risk sharing and management solutions that derivatives can offer but without breaching the fundamental prohibitions as discussed above (by using reciprocal Murabaha transactions).  [34]

Essay on Symbolism of the Scaffold in The Scarlet Letter

In the novel The Scarlet Letter by Nathaniel Hawthorne, we notice that action only happens in a few places, among which are the forest, the market place, the governor’s residence, and Dimmesdale’s house. Although all these locations are significant to the story, the most important symbol among them is certainly the scaffold in the market place, where the story begins and ends. The scaffold’s meaning changes throughout the story and has different values for different characters. It represents humiliation, then insight, and finally redemption for Hester and Dimmesdale, but for Chillingworth, it symbolizes birth of sin, growth of sin, and ultimately consummation by sin. At the beginning of the story, the scaffold â€Å"constituted a portion of†¦show more content†¦Through these same circumstances, the devil planted the seed of revenge in the cuckold’s heart. Chillingworth soon became obsessed with the identity of Hester’s lover and vowed to f ind the man in order to torture his soul. In contrast to the first scaffold scene, the second one happened during the night, completely unseen by the other villagers. Again, we see Dimmesdale and Hester (and Pearl), but this time, the lovers appeared to be both on the platform of shame. In this passage, Dimmesdale finally decided to act upon his guilt since he â€Å"had been driven hither (to the scaffold) by the impulse that Remorse which dogged him everywhere† (132-133). This scene symbolizes a moment of great insight for the minister because he started to understand a way to repent himself. As Dimmesdale touched his little girl’s hand, he experienced â€Å"[an]other life than his own, pouring like a torrent into his heart and hurrying through all his veins, as if the mother and the child were communicating their vital warmth to his half-torpid system† (137). The miserable sinner, who lived in utter darkness and despair for such a long time, at last began to grasp his responsibility towards Hester and Pearl and his role in the redemption of all three characters. However, Dimmesdale’s insight was not complete because he was still bounded with fear. When Pearl asked him to expose his sin to the public and admit her as his legitimate child, his courageShow MoreRelatedSymbolism In The Scarlet Letter1247 Words   |  5 PagesSymbolism in The Scarlet Letter Symbolism is simply defined as the use of symbols to represent ideas or qualities. Symbolism is a common occurrence in literary works and many books use symbolism to express mystical ideas, emotions, and states of mind. As in most literary works, symbolism also appears in The Scarlet Letter. There is lots of symbolism used in The Scarlet Letter to convey multiple things and to express many ideas. Symbolism can be found everywhere in The Scarlet Letter and many ofRead More Symbols and Symbolism in Nathaniel Hawthornes The Scarlet Letter1178 Words   |  5 PagesSymbolism   in The Scarlet Letter Nathaniel Hawthorne isnt noted for perfecting any famous literary style, for writing multiple best sellers, or even for contributing largely to classic American literature.   His only real claim to fame is The Scarlet Letter: a novel that was originally only meant to be yet another Hawthorne short story.   Because of this, it actually possesses many short story characteristics.   It is simpler and more complete than his other novels. (James 285)   It also hasRead MoreSymbolism By Nathaniel Hawthorne s The Scarlet Letter1140 Words   |  5 PagesSymbolism; the use of symbols to represent something abstract by something concrete. It can be powerful in a novel when used correctly. 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Hawthorne uses everyday objects and places to symbolize many main themes, concepts, and ideas in the lives of Hester and Pearl asRead MorePsychoanalytic Analysis : The Scarlet Letter 1354 Words   |  6 PagesPsychoanalytical Analysis Throughout The Scarlet Letter there are many Freudian symbolisms that can be found scattered throughout this American classic. In nearly every chapter there is at least one reference to a phallic or yonic symbols to demonstrate the longing for a male figure in both Pearl and Hester’s life, and the symbolism to depict the shift from id to ego. One of the earlier metaphors to symbolize Hester’s suppression is the scaffold that she stands upon in the first chapter of theRead MoreSymbolism From The Scarlet Letter867 Words   |  4 PagesEmalee McCracken Mrs. Voshell Honors English 10 21 December 2016 Symbolism in The Scarlet Letter There are many forms of symbolism found in The Scarlet Letter. Hawthorne, the author uses his many forms of symbolism to project a lesson or moral created throughout the story. Even each of the main characters has a different moral representation. Guilt, repentance, purity, and strength each are shown through the eyes of a different character. Pear, Hester Prynne, Chillingworth, and Reverend DimmesdaleRead More Characterization, Symbolism, and Irony in The Scarlet Letter1465 Words   |  6 PagesThe Scarlet Letter, written by Nathaniel Hawthorne, is a novel about a young woman who commits adultery and is forced to wear the letter A, which symbolizes adultery, on her chest. In this novel, Hawthorne includes many symbols to display hidden meanings, including character symbols to wake up the reader. Irony is an important element as well, used to reveal the hypocrisy of humankind. The Scarlet Letter is a unique blend of characters, irony and symbolism. Hester Prynne is first described in theRead MoreSymbolism, Use Of Color, And Themes Of Nathaniel Hawthorne s The Scarlet Letter1657 Words   |  7 PagesSymbolism, Use of Color, and Themes in The Scarlet Letter The Scarlet Letter is regarded as the first symbolic novel in American Literature for Nathaniel Hawthorne s skillful use of symbolism and allegory. The novel is also said to be the greatest accomplishment of American short story and is viewed as the first American psychological novel, which makes Hawthorne win an incomparable position in American Literature. Hawthorne’s â€Å"unique gift† for using this kind of skills taps into the roots of manRead MoreScarlet Letter Symbolism Essay982 Words   |  4 PagesThe Significance of Symbolism in The Scarlet Letter The Scarlet Letter, written by Nathaniel Hawthorne is a gothic satire of the puritan beliefs and value. Nathaniel Hawthorn of a puritan based background wrote various harsh satires such as Young Goodman Brown, and The Scarlet Letter, all based on his ancestral history. Furthermore, in his satires, they all shared a common point in structure and his use of symbolism to develop meaning for his works. With the use of symbolism, Hawthorne is efficientlyRead MoreSummary Of Hester Prynne Essay1299 Words   |  6 PagesThe novel starts with a woman who is also the novel’s protagonist, Hester Prynne, being led from prison to a scaffold with her daughter, Pearl. On the scaffold was also Reverend Arthur Dimmesdale, who was trying to get Hester to confess the man involved in the crime. As a crowd begins to form and Hester s real husband who was lost at sea shows up in the crowd. Hester’s husband asks a nearby man what was happening. The man tells him that Hester is being pun ished for having an affair with another

Essay about Backing Up Data on Your Computer - 542 Words

Backing up your data is essential in securing your files from being lost or destroyed. It can also be a great way to install your pictures and videos onto another computer. Luckily, now a days, purchasing a storage device is easier than ever. They are available online, as well as through many major retailers. The price is usually reasonable and is determined by the amount of data that you need to store. The Benefits of a Data Backup Device - Losing your memories and files can be heart wrenching to encounter. Most of the time, those memories are loss forever. Some people have the most important events saved to their computer. In some cases, many individuals have their wedding photos, videos of their child’s first steps or first words,†¦show more content†¦The Types of Storage Devices Available - There are many different types of data storage devices available. Many of these storage devices can be purchased online or at your local department store. The most common data backup devices are; flash drive, external hard drive and online backup software. All three of these items can provide you with the necessary protection that you need to back up your data. Flash Disk A flash disk is a small USB device that resembles the size of a pack of gum. When the device is plugged into your computer, you can transfer files, pictures and video to the memory. Once the files are transferred unto the flash drive, they can be recovered on any computer, just by inserting the drive into the other computer’s USB port. Because the drive is so small, it can be attached to a key chain or necklace for safekeeping. This type of data storage device is commonly use by students. External Hard Drive An external hard drive is a drive that resembles the size of a CD player. The drive is intended to stay outside of the laptop or computer modem. It becomes attached to the computer by the use of an USB cord. Once the hard drive is connected, you can transfer your files unto it. The device can be stored practically anywhere for safekeeping. Online Data Backup Programs Aside from purchasing a device to store your data, many online programs provide online data backup services. In order to have your data backed up, youShow MoreRelatedA Brief Note On The Twisted Pair Cables1158 Words   |  5 Pagesphone networks, as well as data and network communications which are clearer and have less interference with the outside. Whereas Unshielded Twisted Pair Cables have no wire mesh and are therefore not protecting the transmission in the wiring. UTPs are mainly used for Local Area Networks (LAN) as well as telephone connections, however these are more vulnerable than STPs (Shielded Twisted Pair). 3. 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Origins of American Culture free essay sample

American culture Includes both liberal and conservative elements, scientific and religiousness competitiveness, and he ability to take risks and freely express yourself. It has a variety of expressions due to its demographic diversity. The historically diverse background of American culture makes our nation so unique. The origins of America date back to 1492 when Christopher Columbus made the discovery of America Most often, the culture In America Is directly affiliated with ones social class and political orientation.The origin of American culture is the birth of American literature. American culture truly starts to form at the time when American literature is produced. All throughout American history, literature has played an important role in the shaping of the nations culture and ideology. The culture of America is influenced by the literature we create. The ideology and messages that we receive from literature Inspires us to take action In cultural events. American literature was born when Englishmen began to write about their experiences In the trans-Atlantic colonies. In the beginning, It took the form of descriptions of the new land and its inhabitants and accounts of the hardships met with by the settlers. Also many narratives we made of their relations with the Indians. By their account oaf new setting, America started to create a fresh branch of literature. Some of the earliest writings were from colonist Benjamin Franklin and Thomas Paine. Franklins Poor Richards Almanac and The Autobiography of Benjamin Franklin are respected works with their wit and Influence toward the formation of an American identity.Pains pamphlet common sense and The American Crisis writings are seen as playing a key role in influencing the political tone of the period. At the times of these writings, the people focus was more on the power of the mind and rational thought. The enormous scientific, economic, and social changes of the 18th century, called the Enlightenment, made way for democratic principles. The Increase in population helped account for the greater diversity of opinion In religious and political life as seen In the literature of this time. In the post-war period, Thomas Jefferson was one of the most talented early American writers. His influence on the United States Constitution with the Declaration of Independence is unquestionable, being one of the most important documents ever written. This piece of document is undoubtedly the rebirth of a new, free culture In America that Is able to excel. It announced that the thirteen American loonies, then at war with Great Britain, regarded themselves as Independent states, birth to what is known today as the United States of America. The document is symbolic of American democracy and one of the free charters of freedom.This piece of literature is directly related to the origins of the culture in America as it completely reshapes and redefines contemporary life. The Declaration of Independence gave birth to many other freedoms in the United States of America that may never have even been intended. One of the more immediate effects felt by the Declaration of Independence was the emancipation of black slaves. African Americans were now allowed to participate in the same interests and professions as anyone else. This document also paves the way by creating the Bill of Rights, and also creating equality among men and women.Thomas Jefferson is famous for his quote: We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the Pursuit of Happiness This has been called one the best known sentences in the English language containing some of the most consequential words in American story. Imagine a society today where we are not allowed the simple luxuries of freedom, and the cultural limitations that would be set on us if not for this piece of literature.The Declaration of Independence is a direct example of how literature is the origin of our culture and society. The American literary revolution was strictly for expressing the feelings and ideals of a brave people that were tired of confinement within the ideals of society. The authors that would be born out of the revolution would portray the hearts of the citizens; the popularity of literature grew because the usage of it was for every man and the impact it had on society was greater than ever before. The political and social ideals of the day sprang not from a political leader, but from the writings that represented the internal value system of the people. Through the masterful works of many American authors, the way people believed, thought, and felt was changed. From the politics of The Scarlet Letter by Nathaniel Hawthorne to the sentimental power of Uncle Toms Cabin, the message of freedom to think and feel the way one desired screamed off every page. One man that had a dramatic affect on society was Edgar Alan Poe.The poetry of Poe inspired people to think more intellectually about their lives and their external circumstances. He was the first well-known American writer to try to earn a living through writing alone, resulting in a financially difficult life and career. Another well-known American author that really shaped peoples thinking on society and culture is Henry David Thoreau. Thoreau Walden Pond is a reflection upon simple living in natural surroundings, and his essay Civil Disobedience, is an argument for individual resistance to civil government in moral opposition to an unjust state.Walden scribes a voyage of spiritual discovery where Thoreau lives in a cabin he built near Walden Pond and the experiences he gets by removing himself from society and immersing himself in nature. He hoped to gain a more objective understanding of society through personal introspection. This documented experience shows the true meaning of culture and society as Thoreau wanted to strip life to its core, away from the lies and gossip of society. The average person had to constantly labor to afford all their things, meanwhile neglecting natures beauty and the gentle work of the soul, which solitude brings.The United States and other Western countries at the time meaning. Walden, and the writings of Emerson that influenced it, is extremely attractive to those seeking somethin g more to society. Many of the thoughts and ideas in it have entered public consciousness, and it has still been an inspiration to this day. Thoreau takes you out of the status quo of society and culture and makes you question the essentials in life. On a personal note, I am from Boston, being one of the birthplaces of colonial literature and society.I have visited Plymouth Rock and all the historical landmarks around Boston giving me insight to where the birth of America occurred. I learned about the events such as the Boston Tea Party, which was a political protest by the Sons of Liberty against the Tax policy of the British government. A group of colonists boarded the ship and threw all the tea into the ocean as they started an aggressive movement against the Tea Act. The British Parliament essentially composed a piece of literature that said the colonists in Boston were to be taxed on tea. This piece of literature affected society in a way that made it rebellious. The Boston Tea Party proved to be one of the many causes that led to the American Revolution. At the very least, the Boston Tea Party and the reaction that followed served to rally support for revolutionaries in the thirteen colonies who were eventually successful in their fight for independence. All in all, this entire event would not have occurred if there werent a piece a literature being written down or enforced.One of the most influential poets on society in the 19th century was Walt Whitman. He was known for including controversial scenes of sexuality in his poems such as Leaves of Grass. Whitman was uncompromising in his own values in his poetry. He tackled difficult intellectual subjects with remarkable honesty creating a sickness about him. He was doing this in a time where such things were considered wrong and immoral. His poetry presented an equal view of the races, and inspired many people in society.His poetry has been set to music by a large number of composers showing that his literature affects society. People all around the world view his poems as they take their own personal meanings and apply it to their culture. Whitman suggested directly that though society can influence us to hold certain values, all of us could choose to actively participate in culture and work to create new norms and new systems. This inspired change, that inspired people all across the world to view certain society in a different perspective. Literature is a reflection of the society in which it was born and different styles of literature reflect the changes that took place in that particular society at various points in time. Political and economic changes affect the psychology of the people and literature is influenced by these changes. During the Middle Ages, most of the literature usually dealt with religious themes. As time progressed, the literature of the Renaissance reflected more on society, politics, and local topics. Poetry then became extremely popular in the Romantic period showing the change of literature influencing society.The origins of America all starts with the effects that literature puts into our culture. Consequently, culture affects literature because all writers, some more intentionally than others, write from the perspective of their culture. When people read literature they read it from the point of view of their culture as well so there is always different cultural points of view in literature. American culture throughout time was expanding and adapting. In the other hand, the dehumidifying agents of warfare on a large or hope and cultural inspiration.All in all, literature is the foundation of American culture that inspires us to generate change and to take action. As a society, if we are stripped away from the origins of literature that created America, we are being stripped of the knowledge that literature creates culture. There have been many cultural acts or events that have been directly influenced by a piece of literature. One in particular that we looked at in depth was the Declaration of Independence. Single handedly, this one document started a new American culture, one that was free from the tyranny of the British Empire.