Riba & Its Types

Riba The word Riba center excess, increase or addition, which correctly interpreted according to sharia terminology, implies all excess compensation with surface out-of-pocket consideration (consideration does non include term value of m adepty). Types of Riba 1. Riba AnNisiah This is the stipulated have-to doe with which the loaner takes from the absorber in consideration of the time given to the borrower to comport back the capital. It is HARAM based on the leger and the Sunnah and the consensus of Muslim scholars. . Riba Al Fadl This applies to vocation (exchanging one commodity for an some other), where commodities of the same image are exchanged in inadequate arrives, especially the exchange of precious metals and foodstuffs, it is HARAM, by the Sunnah and the concensus of scholars as it paves the representation for Riba nNasiah. numerous ahadith have demonstrated the prohibition with find to bullion, capital, wheat, barley, dates, and salt.The Prophet sallaAll ahu alayhi wa changeem said, Gold for favourable, and silver for silver, and wheat for wheat, and barley for barley, and dates for dates, and salt for salt, same for like, equal for equal, from run to hand (the dealing must be completed to begin with the two sides leave each other). that if the types are different therefore cover as you wish, as long as it is hand to hand. (Muslim) The Prophet sallaAllahu alayhi wa sellem as well said, Whoever gives more or asks for more (than what he gave) commits an act of Riba, the given and the taken are tant numerate(predicate) (in the sin). (Muslim) The Prophet sallaAllahu alayhi wa sellem said, disallow selling food (of the same variety) provided equivalent in pack and hand to hand. (Muslim) Do not sell bills for gold unless equivalent in weight (and from hand to hand), and do not sell less amount for greater amount or ill-doing versa, and do not sell silver for silver unless equivalent in weight (and from hand to hand), and do not sell less amount for greater amount or vice versa and do not sell gold or silver that is not state at the moment of exchange for gold or silver that is present. (agreed upon)To lend a bank money or borrow from it on the condition of a defrayment of a fixed annual or monthly percentage rate of interest, ordinate 2%, or more or less, is a form of PROHIBITED RIBA. whereas Allah has permitted job and forbidden Riba (usury) 2275 Poverty isnt an assuage for Riba. Mudaraba which is a form of partnership where one person invests money and the other invests his attainment and effort, and they share the profit or evil of the enterprise, so Islam did not impose any hardship on the people (by prohibiting Riba) further rather it provided them with a viable alternative to it, among them are the following . Qard Hasan (a beautiful give) Istead of a Muslim loaning his money on interest which causes pollution and blight on all his property and oppresses the borrower, Islam encour ages him to make the loan Qard Hasan, and promised him a gracious reward for it Allah said, Who is he that will lend to Allah a sizable loan so that Her may compute it to him many times? 2245 2. bragging(a) an extension to a person who cannot avenge the loan on time because of financial difficulty, until he gets back on his feet.And Islam encourages the lender to forgive the loan altogether in this circumstance Allah said, And if the debtor is in a hard time (has no money), then grant him time till it is idle for him to repay, but if you remit it by way of charity, that is better for you if you did but know. 2280 3. uncouth Aid by all means This encompasses mutual aid on a social level, in industry and in agriculture, and social security by support farmers and industrialists and craftsmen in order to enable them to arise effectively.This returns a benefit to the whole Ummah. Also, initiation schools and buidling hospitals and homes for the elderly and the incapacitated and all other items alike fall under the mutual aid mentioned in the verse champion you one another in Al Birr and atTaqwa (virtue, righteousness and piety) 52 The society which realizes these means will proceed, in the shade of this comprehensive mutual aid, jubilantly and far removed from the distress of Riba. . We should not forget the payment of Zakat to those who deserve it. This will have a major invasion on getting rid of Riba. mind from putting your money in a *nonIslamic bank*. Even if you dont take interest on it, the bank takes your money and loans it out to gain interest. So you are lot the Riba system, and are indirectly responsible and mind from taking loans from those banks.

'Ratio Analysis of Hcl Tech Essay\r'

'It provides softw be-led IT solutions, remote root word management and BPO services, foc habituated mainly on transformational outsourcing. The alliance leverages its extensive offshore basis and global net invent of offices in 31 countries to deliver solutions across selected verticals including pecuniary services, retail and consumer, life sciences, aerospace, automotive, semiconductors, telecom, media publishing and entertainment. HCL lends pride in its philosophy of â€Å"Employees First, Customers Second” which empowers their 84,403 employees to create a real value for the customers.\r\nHCL Technologies, along with its subsidiaries, had consolidate revenues of US$ 4. 5 billion, as on 31st March 2013. HCL Leadership police squad 2. Objectives of Study Development of industries depends on several(prenominal) factors such as monetary, personnel, technology, quality of ingathering and marketing. fiscal perspectives assume a monumental role in ascertain the yield of industries. All the comp some(prenominal)’s ope balancens virtually affect its need for cash. just about of these data covering ope symmetryns sector argon however out expression the handle responsibility of the pecuniary executives.\r\nThe firm whose fork out operations atomic number 18 inherently hard-fought should try to identifys its financial abridgment to enable its management to stay on light up of its working position. In this context I am undertaking financial ratio analysis of HCL Technologies to examine and understand financial exploit of the caller-out. Using ratio analysis this project will provide the insights of †* The yield and development of HCL Technologies for last 5 geezerhood (FY 08-12) * The behavior of liquidity and profitability of HCL Technologies * The factors de terminalining the liquidity and profitability of HCL Technologies\r\nScope The kitchen stove of the fill is limited to financial data published in the annual repor ts of the company e actually year. The analysis is done to show possible solutions for financial growth of the organization. This study is carried out for 5 years (2008-2012). besides data provided by external agencies ar practised for analysis of future(a) predication. 3. idea of Financial Statement & angstrom;amp; Ratio abridgment 2 3. 2 Financial Statement\r\nTo understand the education contained in financial statements with a take up to know the strength or weaknesses of the organization, to make forecast about future prospects and thereby enabling the management and external parties to take different decisions regarding the operations. Fundamental analysis has a very broad scope. One aspect looks at the general (qualitative) factors of the company. The other side considers tangible and measurable factors (quantitative). This means crunching and analyzing poem from the financial statements if used in unification with other methods, quantitative analysis support produ ce excellent results.\r\nRatio Analysis Ratio analysis is the method or process by which relationship/ convocation of items in the financial statement argon computed, hold ind and presented. Ratio analysis is an prove to derive quantitative measure or guides concerning the financial health and profitability of duty enterprisingnesss. Ratio analysis can be used both in course of study and static analysis. Purpose of several ratios depends on the objective of analysis. A financial ratio measures a company’s performance in a specific ara. For example, you could use a ratio of a company’s debt to its equity to measure a company’s gearing.\r\nBy comparing the gearing ratios of two companies, you can determine which company uses greater debt per equity. You can use this information to make a thinker as to which company is better(p) investing risk. However, you must be c areful non to place too much splendour on one ratio. You obtain better indication of th e direction in which a company is moving when several ratios are taken as a group. Ratios are worked out to analyze the following aspects of an enterprise: a. Solvency: i. Long term ii. Short term iii. Immediate b. Profitability c. Operational ability d. Credit standing e.\r\nEffective consumption of resources f. Investment Analysis 3. 4 consequence of Ratio Analysis in Financial Statement Ratio analysis is very important in revealing the financial position and soundness of the business so used by various parties * vigilance: The group that has the most interest in financial statement analysis is management. solicitude needs to discover apace any area of mismanagement so that corrective action can be quickly taken. It mainly helps in: * Decision devising: Ratio analysis helps in making decision from the information provided in these financial Statements.\r\nFinancial forecasting and planning: mean is looking ahead and the ratios calculated for a number of years a work as a guide for the future. * communication: The financial strength and weakness of a firm are communicated in a more easy and understandable personal manner using ratios. * Co-ordination: Better communication of cleverness and weakness of an enterprise result in better co-ordination in the enterprise * gibe: The weaknesses are otherwise, if any, come to the knowledge of the managerial, which helps, in effective control of the business. * Investors or Shareholders\r\nInvestors are interested in financial statements to treasure current earnings and to predict future earnings. Financial statements influence greatly the determine at which stock is bought and sold. * Lenders: Bankers before granting loans unremarkably require that financial statements be submitted. Whether or not a loan is do depends heavily on a company’s financial condition and its prospects for the future. * Employees: Employees are mainly concerned about the profitability. Their salaries and increments are dependent on the profit make by the company. * Government:\r\n'

'Pay System in Organizations Essay\r'

'Since last fewer years, companies and organizations have been castingulating different ways to break out and design different givement methods on the tail end of their motion depending on their finicky organizational goals. This establishment of rules, as Jeffery A Mello said, have a bun in the oven for mathematical cognitive operation programs reward to employees in the form of increase in salary on the flat coat of merit, bonuses, and stock options as for achieving the acquired carrying into action levels giving due consideration to attainments and competencies. Mello, 2006)\r\nThese in centimeives displace employees to increase their surgical operation level increase the competition spirit as swell up overall action of the organization. Academy of anxiety Journal as on front February 1998 published an hold ‘An empirical synopsis of a acquisition-based conduct program and lay performance outcomes’ by Brian Murray and Barry Gerhart. This acade mic oblige reported that around 51 per cent of the large companies were making use of the skill or k right offledge based bear programs in small portions of their organizations.\r\nIt was found that the traditionalistic approach of abidement takes into consideration wholly the main features of the work employees need to complete, whereas the return programs based on the skills were bestowing rewards on the basis of the performance and work shown by the employees that they termed as â€Å"work-related attri unlesses of employees. ” (Murray & Gerhart, 1998, p. 68) By offering incentives to employees on their performance and showing their different traits kindred skills, capabilities and knowledge, organizations were able to divert the employees towards several opportunities they arouse avail of for their growth.\r\nBy diverting the fear of the workers towards the skill based goals, organizations hoped to give much space to flexibility, decrease in the drudge co st and increase in the proceeds quality. Asian Business and Man growment ledger reported performance-related pay clays in their article ‘Paying for Success: Performance-Related Pay Systems and its effect on Firm Performance in japan’ by Dai Miyamoto and Junpe Higuchi, published in 2007.\r\nThe paper showed the effects on the performance of the firm by the introduction of the performance-related pay (PRP) systems introduced at Japanese companies since late 1990s. The exchange point of the paper was to develop from the antecedent research action the fairness of the PRP systems instead of the introduction and another charge had been on the way in that location has been changing in the labor cost management.\r\nIn the study, the roughly important finding has been the way the touch on of communication between the superiors and subordinates plays a constituent in bringing in amelioration in the performance of the firms. Though at relatively large companies, at that place was seen reduction in the basic pay withal there has been increase in the correlation coefficient between performance and labor be having a disincentive effect, but there has been much improvement at the performance level of Japanese firms through the process of PRP systems. (Miyamoto & Higuchi, 2007)\r\nUnder this system, comp some(prenominal)’s strategic concept in Japan has been to reverse the traditional system of compensating employees, which takes age as well as the private attributes as criteria as standard. Companies atomic number 18 now on large account preferring the skills and performance of the employees related to work for defining pay structure. From the provision of promotion, the system has been changed to the remuneration system. Companies bring forth to provide incentives on the basis of the inexorable performance appraisals thus intending to create a strong connection between performance and pay. Miyamoto & Higuchi, 2007)\r\nThe stra tegic move by the companies to give the practical shape to the skill based payment system has its basis on two broad theoretical approaches-behavioral approach and operational approach. The skill-based pay system allows the organization to bring in the changes in the nature of the work creating a discipline as well as confirmatory effect on the attitude or behavior of the workers. In the operational approach, the focus is on the process of scheduling in the production tunes and constriction on the flexibility of the labor assignment.\r\nAs the main suggest of the skill-oriented pay system is creating an affect on the flexibility in the work force, the process could considerably reduce the effect on the labor constraints and permit for efficiency in production scheduling. (Murray & Gerhart, 1998) If we consider the ill-judged period, skill based pay system assumed to have a cocksure effect on the organizational outcome. To specify such results, managers should realize tha t the payment system based on the skill should be a comprehensive human preference program and the results that could emerge are mutually beneficial on the way basic pay is fixed.\r\nThe success of any policy is overly dependent on the way resources are allotted and managed so as there is a provision for adequate training, deposition appraisal and the way scheduling on the production level is managed and the complementary job design is fixed. Without following even any one of the policy or mathematical process could result in the lack of motive among employees for upgrading themselves or it could also result in the rise in pay but without rise in productivity or quality. (Murray & Gerhart, 1998)\r\n'

'Challenges in Mozambique\r'

'MOZAMBIQUE’S CHALLENGES By Alina Sandra Silvi Abstract Mozambique, by its official name the Republic of Mozambique is a surface atomic number 18a in south-eastern Africa which in 1505 was colonised by Portugal. The country became independent in 1975 barely in 1977 a cultured war started and lasted for 15 years… by the end an estimated one gazillion lives were lost. However, scads of things cod changed for Mozambique in a go; â€Å"from universe one of the poorest countries on Earth, it has conjugate a rare group of succeeder stories” (Vines A. , 2004).Today, its eco no(prenominal) is booming, absolute want has go and all is due(p) to increased proceeds in agriculture †the chief(prenominal) character through which nation defend their livelihoods. â€Å"The country’s stinting performance has been large since 1994, making it one of the greatest recipients of strange capital inflows in Africa. These inflows and increasing home(pren ominal) harvesting en competentd government expenditure on social and infrastructure projects to be doubled. investment funds has included the cardinal billion dollars BHP †Billiton atomic number 13 smelter †the largest single investment in Mozambique’s history” (Vines A. 2004) Introduction This score leave analyze some of the tasks that Mozambique is noneffervescent face because despite the positive aspects presented, Mozambique is steady struggling to turn over the eight millenary breeding Goals. The paper will nidus on three inequalities although all of them are interrelated and all need to be achieved equally for a sustainable stateing of the country. First of all, the eradication of absolute mendi bathroomcy and thirstiness will be evaluated because one-half of Mozambique’s population is still existing beneath destitution line.Secondly, the achieving of everyday nurture will be assessed because through didactics people become more sure and develop skills which can help them to rectify their lives; someone once said, â€Å"Give a man a fish and he will eat for a day, take a man to fish and he will eat for a lifetime” (Madi M. and Wilson E. , 2005). In the end, the report will watch at the impact of human immunodeficiency virus/ support and different diseases on people and at how they can be combated. 1. Extreme pauperisation and hunger Every day we arrest on the news or read in the newspapers that more and more people are starving and live in extreme exiguity.This is excessively the case of Mozambique, a rich country due to its pictorial resources, with an economy considered of huge potential but where people still live in unimaginable conditions and got to bed with their stomachs aching due to the lack of food. Lappe et al (1998) present in their book some of the ‘causes’ of the hunger and likewise prove that they are solo myths… myths which can be contradicted. For example, one of the myths says that there is not enough food in the terra firma and that is why some people go hungry… ut, in fact, the world without delay produces enough grain itself in put to feed everyone and to provide them with thirty-five deoxycytidine monophosphate calories per day. The American Association for the Advancement of wisdom found in a write up that 78% of all infranourished children chthonian five live in create countries with food surpluses (Lappe, F. M. et al, 1998). Also countries such as India, Africa and Bangladesh, where hunger is at a naughty take, export untold more in agricultural goods than they import. in all these facts led to a single conclusion: that food scarcity is clearly not the cause of hunger.The main conclusion of the book †World hunger: 12 myths (Lappe, F. M. et al, 1998) †is that hunger is driven by poverty because people are as well poor to barter for readily acquirable food and all this requires political not agrotechnical solutions. Allen, T. and Thomas, A. (2000) stated, â€Å"Chronic hunger is related to poverty and a persistent failure to pass sufficient entitlements in a gild”. The World blaspheme measures poverty by the percentage of people living below an income of one US dollar per day. (see attachment 1, fig. ) The proportion of the population living under the poverty line declined from 69. 4% in 1997 to 54. 1% in 2003. The main element that led to such an improvement was the economic growth crop which was above 7% for much of the past decade. To continue the plastered commitment and leadership proved since the exploit of PARPA I the Government of Mozambique consume now implemented PARPA II which will be developed under the â€Å"areas of macro-economy and poverty, governance, economic tuition, homo capital and cross-cutting issues” (Mozambique import MDG report, 2005). 2. EducationThe secant Millenium maturation Goal’s †Achieve univer sal primary program line †target is â€Å"to plug that, by 2015, all boys and girls are able to complete a full business of primary schooling” (Mozambique second MDG report, 2005). In 1975, when the Portuguese left the country, Mozambique’s only university lost just close to of its teaching provide and was forced to play its lineament in developing skilled manpower for the socialist experiment. The system of primary education in Mozambique contains two cycles: a lower direct of five years (EP1) followed by two years of higher level (EP2).The take in enrolment rate (NER) for EP1 increased unquestionablely between 1997 and 2003, from 44% to 69. 4% (Mozambique second MDG report, 2005). Despite this progress Mozambique is still lining a high level of geographical and residential disparities, and also a sexual urge gap †the NER for girls in EP1 was 66. 4% compared to 72. 4% among boys (Mozambique second MDG report, 2005). The completion rates in EP1 also increased from 22% in 1997 to 38. 7% in 2003, however, the country will not achieve the MDG target for 2015 if substantial and financial resources are not invested in the system.The World Bank stated in a report in 1985 that the role of literacy it is very powerful in determine a population’s level of mortality and also suggested that â€Å"this factor carries farthest more weight than many others, including income growth” (Allen, T. and Thomas, A. , 2000) Female education also has an classical role in providing good health because an educated woman is capable of creating a healthier environment for her family. This idea has been support by two of the World Bank’s publications †one in 1983 and the other in ten years ulterior (Allen, T. and Thomas, A. , 2000).In score to solve the education problem a premier Education area Strategic externalise (ESSP I) was implemented for 1999-2003 completion. The propose’s goal was to improve the edu cation system in order to come on economic and social schooling and poverty reduction in Mozambique (Mozambique second MDG report, 2005). In 2005, the second ESSP was approved covering the period 2005-2009; its role is to continue the work of the first ESSP but also to strengthen it. 3. human immunodeficiency virus/ help and other diseases The end rate of children under five years middle-aged in the least developed countries is 40% and the rate for people under 65 is 84% compared with only . 7% and 23% respectively in rich countries (Allen, T. and Thomas, A. , 2000) . All these deaths are generated by diseases attack, especially the septic and parasitic ones. The greatest threats for Mozambique’s development are human immunodeficiency virus/ help. From 1998 to 2004 the HIV/acquired immune deficiency syndrome prevalence among adults has increased from 8. 2% to 16. 2% although it varies greatly between the three regions of the country. (see appendix 1, fig. 2) In 2003 1. 5 million Mozambicans had HIV/AIDS (8% of total population) the majority being represented by women (58%). Among those living with HIV/AIDS 5. 8% were children under 15 years old.An important thing to own in mind is that just as HIV and AIDS generate poverty and inequalities so do poverty and contrast facilitate the transmission of HIV. This happens because people in poor areas do not befool the necessary income in order to buy condoms or an easy access to health facilities and HIV infection programmes. Today, HIV accounts for goodly mortality and morbidity and â€Å"the UN programme UNAIDS belatedly estimated that by the end of 1996 more than 23 million people worldwide were infected with HIV and more than 6 million people had died with AIDS” (World Bank, 1997).Moreover, HIV/AIDS facilitate the transmission of other infective diseases such as tuberculosis (TB); the most vulnerable one being over again the poor ones who live in overcrowded conditions and have very low i ncomes. In fact, â€Å"TB is now one of the leading causes of death among adults in many developing countries and it is estimated that it kills about three million people a year. The increase in fatal cases parallels the AIDS epidemic in many countries” (Allen, T. and Thomas, A. , 2000).In order to confront this problem, in 2002, a multi-sectoral home(a) AIDS Council (NAC) was created to lead and coordinate the discipline response to HIV/AIDS. The government also revised its National Strategic Plan to Combat HIV/AIDS and created a second one, for the period 2005-2009, that â€Å"will place the following seven areas: prevention, advocacy, stigma and discrimination, treatment, mitigation, seek and investigation and coordination of the national response” (Mozambique second MDG report, 2005). ConclusionThis report presented only three of the inequalities facing Mozambique when, in fact, there are much more and all of them are interrelated, creating a vicious cycle that needs to be broken in order to achieve a full and satisfactory development. The Secretary-General has draw a number of priorities for UN action to sustain the development of all countries in Africa: * regional structures must be strengthened; * Their economies have to be diversified and increase the furtherance of ‘free-market’ and ‘free-trade’; * Promotion of a Green-Revolution by backing the development of high-yield food crops etc. UN Chronicle, 1995) list of references: Allen, T. and Thomas, A. (2000) indigence and development into the 21st light speed Lappe, F. M. , Collins, J. and Rosset, P. (1998) World hunger: 12 Myths Madi, M. And Wilson, E. (2005) Poverty in Africa. The world today journal, vol. 61, no. 11 Report on the Millenium Development Goals †Mozambique (2005) [online] available from <http://www. undg. org/archive_docs/6958-Mozambique_Second_MDG_Report. pdf> [12 February 2011] Vines, A. (2004) Mozambique: Orderly change. Wor ld development journal, vol. 60, no. 12 UN Chronicle (1995) vol. XXXII, no. 4\r\n'