Major Works Data Sheet Essay

In this column, choose five quotations from the text, one focusing on each of the following literary elements: In this column, analyze the significance of your quotations. Allow the following questions to guide your responses: Why is this important? What does this reveal? Why does the author say it this way? What is the tone/mood of this passage? Theme â€Å"Seek happiness in tranquility and avoid ambition.† -Victor Frankenstein This is part of the theme of the book, sometimes too much knowledge is a bad thing, like the death of Victors family members. He did not think through the consequences of creating such a creature and therefore it led to the death of his family. He now wishes that he had been happy and thankful for the life that he was living instead of attempting to alter it, because then maybe his family would still be alive. Characterization â€Å"William, Justine, and Henry – they all died by my hands.† -Victor Frankenstein This quote is an expression of the sorrow and the guilt that Victor feels for being the reason his family died. Because of the death of his family he has a very Debbie Downer outlook on life and does not end up making the monstrous creature his companion. Setting â€Å"When I looked around I saw and heard of none like me. Was I, the, a monster, a blot upon the earth from which all men fled and whom all men disowned?† – The monster, Chapter 13, page 105 The creature realizes what a monster he is, because everyone he encounters runs from him in terror. He is lonely on this Earth and wants Victor to make  him a companion in female form. Symbolism â€Å"What was I? Of my creation and creator I was absolutely ignorant, but I knew that I possessed no money, no friends, and no kind of property. I was, besides, endued with a figure hideously deformed and loathsome†¦was I, then, a monster, a blot upon the earth, from which all men fled and whom all men disowned. â€Å" -The creature, chapter 13 Sometime after being created by Victor, the creature no longer thought that he was happy and did not understand why he was alive. He tried to fit in with the world around him but everyone was afraid of him and at one point or another he just gave up on trying to fit in with society. In this quote he explains his actions and the reasoning behind them. Imagery â€Å"It was already one in the morning; the rain pattered dismally against the panes, and my candle was nearly burnt out, when, by the glimmer of the half-extinguished light, I saw the dull yellow eye of the creature open†¦Ã¢â‚¬  -Victor Frankenstein, Chapter 5 This is when Victor brings the creature to life, the creature that he has work endlessly, spending all of his time on it. This scene is used in movies to make audiences fear the monster that Victor created.

Human Dignity and the Dignity of Life Essay Example

Human Dignity and the Dignity of Life Essay Example Human Dignity and the Dignity of Life Essay Human Dignity and the Dignity of Life Essay Name: Course: Tutor: Date: Human Dignity and the Dignity of Life The terms human dignity and dignity of life are often used interchangeably. It is significant to understand that these two terms were of the approach different aspects and ideologies of life although there is sometimes a thin line between them. In the history of the human being, these two terms may have meant different things to two different groups. If, for example, these two groups were to be labeled the elite and the oppressed groups, the similarities and the differences will be discussed in relation to human dignity and the dignity of life depending on the historical period. To comprehend and to appreciate the interconnectedness of life, to live and to let live, to value the small things, to die with dignity, amongst others, are the phrases that related to the term the dignity of life. Respect, self worth, equal treatment, necessities of life, integrity, amongst others, come with the term the human dignity (Bonefeld Kosmas 35). Although these seem quite straight forward and clear, they mean different things to the groups mentioned above. Some aspects of these two terms are similar to both the elite and the oppressed groups. The freedom to search for the life necessities such as shelter, water, food, social support, just to mention but a few has been evident since man came into being. Man has been known to hunt and cultivate as a way providing food for himself. In the early times, when people used to own slaves, the slaves used to work, and in exchange have food, clothing and shelter provided to them by their masters. The slaves also used to have families, and that is how they multiplied. During the colonial period, the colonialists allowed the colonies to live in groups, go on with their own activities of fending for themselves and keep the normal social life the elite/the colonialists had (Malpas Norelle 57). Although their social and economic life may not have resembled that of the elite, they still had a life. The oppressed and the elite groups have been sharing the human dignity concept of believing anything one wants. Since time immemorial, the people have been able to believe what they wanted especially when it came to religious beliefs. In the Roman Empire, slaves still believed in the religion of their ancestral land (Kim 76). Although the missionaries and the colonialists played a significant role in the influence of Christianity in the African community, many Africans still continued with their African practices even after the reign of the colonialists. Today, it is evident that the question of what one believes does not depend on ones social status. People are either influenced by where they have come from (background), where they are or their own understanding. This can be explained by how homosexuals view themselves as oppressed since they are not allowed to fully express themselves in public. In such a case, the elite are the heterosexuals while the oppressed are the bisexuals, homosexuals and the transsexuals Unfortunately, the significance of such a concept as to live and to let live started being of significance in the late 20th century. The elite considered themselves as the people to decide how long the oppressed would live and how they would die. A master would kill a slave as he wished with not as much as a question from the authorities. A black man would easily end up dead while in the hands of the police without any further investigations of how that came to be (Ugwuanyi 528). A woman would be beaten and finally get killed by the husband without much concern from the family let alone the authorities. Although such actions call for the law’s intervention today, some concerns are still raised on the competence of the investigations being done and the actions taken. Respect, which is perceived as a form of human dignity, is meant to be respect from others. Unfortunately, when it comes to the elite and the oppressed groups, the elite expect respect from the oppressed, but the oppressed do not expect the same from the elite. In the past, the oppressed, who were mostly the slaves and peasants, did not respect themselves. They felt that their obligation was to serve their masters and the rich in the society (Malpas Norelle 60). The peasants were referred as third or fourth-class citizens depending on the society. There was the royal family, the extremely rich, the middles class and the peasants. During periods of slavery, the 19th and the early twentieth century, the whites and the Blacks represented the early elite and the oppressed groups respectively. During that period, the whites were the only people to be respected, to die with dignity, to be shown compassion, to be treated equally and to acknowledge the ambiguity of the world, amongst other concepts. They acknowledged that they had more human and life dignity as compared to the blacks and so they treated them like so. Although this has slowly been erased from the physical world and the concepts of human dignity and the dignity of life been appreciated by all parties, there are that mental part that still shows discrimination. White dominated countries do not have as many black leaders as the population dictates. Waiters and servers in the African countries will still prefer serving a Caucasian customer faster than a dark-skinned customer will. Many women do not hold leadership positions as their male counterparts. For example, there are only 12 female prime ministers,11 female presidents and 3 queens in the world. This is out of the many countries, and kingdoms we have in the world. It is approximated that 51 to 60 females have either acted as heads of states or been the heads of state after the Second World War. Although human dignity and the dignity of life may not necessarily be entirely responsible for such statistics, the aspects of inequality, empowerment of the marginalized groups and other issues affect the outcome of such statistics. When it comes to the value of small things as far as dignity of life is concerned, this might mean different things to the elite and the oppressed groups. Due to circumstances, the oppressed people value small things more than the elite do. During the slavery time, something as small as a meal in a day, no matter how small, was extremely appreciated (Ugwuanyi 529). Slaves were sold, and so it was hard to come by slaves either of the same family serving one master or in the same region. This made them value and appreciate one another very much as each was on his or her own. In the African American community during the 18th, the 19th and the early 20th century, family members were the most important, than the friends and neighbors, then the rest of the community. It is the reason why it was common to see a family inclusive of the extended family. This extends to date. The oppressed such as the poor and the disabled tend to appreciate the small things more than the elite. A beggar on the street appreciates a smile and a quarter more from a stranger more than a chief executive in a company’s office. The rich, even in the past, were not only concerned about one meal, but they were also concerned about the three meals, cooked and served well with wine and fruits as accompaniments. They were also concerned with banquets, balls and other celebrations. Even today, the elite or the rich are first concerned about how the community and the whole society think about them, before they are concerned about how their families perceive them. Issues exist concerning the human dignity and the dignity of life that can be learnt from our global neighbors and our near ancestors. Our ancestors believed in integrity and the emphasis of it. This is explained by the American Constitution, which was written in the 18th Century, is still followed even today with as few as less than thirty amendments (Bonefeld Kosmas 67). The founding fathers of the nation believed in integrity, and they acted in ways that portrayed integrity. A more specific example is where most families have something that has been passed on from one generation down to the next generation. It may be a piece of land, an expensive jewelry or a souvenir that was entrusted to the family members by the ancestors. In the quest for knowledge, the ancestors in the African countries and other countries globally embraced education thus leading to the spread of the literacy all over the world. The ancestors in the colonized states believed that they were dying a dignified death when they died fighting for their countries. This is how countries came to achieve their independence. Whether it is in Asia, Africa, America, Europe or any other continent, people believed and still do in the right to celebrate through dance and music. There is not one single group in the world which did not engage in dance and music especially during celebrations as a way of expressing their joy. Cultures, communities, administrations, occupations, sharing of knowledge, patriotism, search of prosperity, amongst other concepts were founded by our ancestors. They pursued and passed on from one generation to another, as a way of showing each generation their significance. Neighboring countries in the globe also have a way of showing the values in human dignity and the dignity of life. In Asian countries such as North Korea, China and Japan, a small bow before greeting one another or failing to look once superior directly in the eye is a form of ones respect for another (Kim 75). Countries such as China, Singapore and India are known to value families immensely thus they live in large families. The Maasai of Kenya and other cultures in Africa and Asia still practice their traditional beliefs and wear traditional clothes in appreciation of their culture. The ancestors and the global neighbors have taught us and continue teaching us the dignity of life and human dignity. The traditional songs sang during the socials gatherings, the recognition of authority where one acknowledges their superior, doing things with integrity; these are ways the ancestors and our neighbors show the significance of human dignity and the dignity of life. It is agreed that the morality ethical issues are of more concern today than they were a few years back. Children are more rude and disrespectful to their parents today that they were some time in the early twentieth century. Every individual has a right to experience human dignity or dignity of life whether by offering or by receiving. Our ancestors, global neighbors and time have taught us the significance of these two terms. They are what keep people together and protects the human race from itself. If the human race decides to go against the concepts that come along with these two terms, they will drive themselves into extinction. Bonefeld, Werner Kosmas Psychopedis. Human dignity: social autonomy and the critique of capitalism. Burlington, VT: Ashgate Publishing Ltd, 2005. Print. Kim, Hyung-Kon. The Idea of Human Dignity in Korea: An Ethico-Religious Approach and Application. Lewiston: Edwin Mellen Press, 2007. Print. Malpas, Jeff, and Norelle Lickiss. Perspectives on Human Dignity: A Conversation. Dordrecht, The Netherlands: Springer, 2007. Print. Ugwuanyi, Chikere. â€Å"Book Reviews: Towards a Fuller Human Identity: a Phenomenology of Family Life, Social Harmony, and the Recovery of the Black Self. by Pius Ojara.† The Heythrop Journal. 49.3 (2008): 527-532. Print.

A Common Question Recruiters Ask Prospective Candidates is How They Essay

A Common Question Recruiters Ask Prospective Candidates is How They Would Motivate Their Staff - Essay Example Introduction The success of any business primarily relies upon the performance of its staffs. They are treated as the vital resources of any organisation which tend to yield high productivity through their performances. For staffs or employees, motivation acts as a key towards enhancing their performances. Motivation is a force which encourages employees to render their best effort towards the job. This motivation can only be achieved when the requirements of employees are satisfied. These requirements can differ from person to person as every person has their personal needs which can help to inspire toward high performance and thus yield high productivity. It has often been argued in this context that effective motivation is one of the prime reasons which prompt certain positive behavioural aspects amid employees. Although motivation is regarded as a crucial factor for success of business, there are certain debaters who attempt contradicting this explanation. In broader terms, motiv ation is believed to be the determination to perform better. Motivated people are identified to commonly exhibit energy and enthusiasm in the work procedure. Based on this notion, the paper will describe motivation of people from different perspectives. The objective of the paper is to understand the aspects which can help to stimulate employees towards higher performance. Application of different theories along with challenges and success factors for motivation of employees has been illustrated in the discussion henceforth. 2.0. Literature Review 2.1. Traditional Motivational Theories There are three most commonly applied motivational theories which were developed in traditional period namely, ‘Maslow’s Need Hierarchy Theory’, ‘Hertzberg’s two factor theory’, and ‘Theory X and Theory Y’. Maslow had proposed that employees have different set of requirements through his Need Hierarchy Theory. He had identified five kinds of needs t o be effective for any and every individual from a generalised point of view which included ‘psychological needs’, ‘safety needs’, ‘social needs’, ‘esteem needs’, and ‘self-actualisation needs’. However, the earnestness of these different needs is likely to vary from person to person. In this regards, Maslow had described that when one need is fulfilled, the other need arises. Hence, the urge for satisfying different needs drive employees toward more effort. Thus, accomplishment of different needs can help to motivate employees toward higher performance in an organisation (Bryson, 2006). Fredric Herzberg had developed two aspects namely ‘motivators’ and ‘hygiene’ factors which certainly creates an impact on motivation of staffs. Hertzberg believed that there are certain aspects which result in satisfaction of staffs and certain other aspects which inhibit dissatisfaction amid them. According t o him, the hygiene aspects are essential for existence of motivation in the workplace. Although hygiene aspects do not result in positive satisfaction for long run, it is vital for preventing displeasure among employees. In other words, hygiene aspects are extrinsic factors in the job. Alternatively, motivational aspects can generate satisfaction for employees to a considerable extent. These aspects are fundamental in nature and motivate employees for providing superior performance on a consistent basis. Motivator aspects are often termed as satisfiers and represent the

U2 Case Project Coursework Example | Topics and Well Written Essays - 250 words

U2 Case Project - Coursework Example d http://www.icann.org/epp#clientUpdateProhibited, serverDeleteProhibited http://www.icann.org/epp#serverDeleteProhibited, serverTransferProhibited http://www.icann.org/epp#serverTransferProhibited, serverUpdateProhibited http://www.icann.org/epp#serverUpdateProhibited. clientDeleteProhibited -- http://www.icann.org/epp#clientDeleteProhibited, clientRenewProhibited -- http://www.icann.org/epp#clientRenewProhibited, clientTransferProhibited -- http://www.icann.org/epp#clientTransferProhibited, clientUpdateProhibited -- http://www.icann.org/epp#clientUpdateProhibited, serverDeleteProhibited -- http://www.icann.org/epp#serverDeleteProhibited, serverRenewProhibited -- http://www.icann.org/epp#serverRenewProhibited, serverTransferProhibited -- http://www.icann.org/epp#serverTransferProhibited, serverUpdateProhibited -- http://www.icann.org/epp#serverUpdateProhibited In this section we shall resolve the server issues being experienced by a company that has upgraded its network from Windows Server 2000 server to Windows Server 2008. A server acts as an electronic filing cabinet. This happens to be one of its fundamental roles. Client’s connection to a server is purposefully to gain access to a shared file or stored data. Bender (2009) to us the newly improved technologies from Windows Server 2008 that will help in solving the server issue. These are improved distributed file services and improved file sharing wizard. A centralized point is provided by the distributed file sharing service (DFS), it is at this point that information is loaded to enable easy access. This point will enable the business to access network data from the database. The other technology is file sharing wizard. The sharing wizard on the system must first be enabled in other to share files with other network users. In order to establish connection you first start by c licking network and sharing center. You then turn on public folder sharing; this applies on systems with established

Can Selling Arrangements Be Harmonised Essay Example | Topics and Well Written Essays - 1500 words

Can Selling Arrangements Be Harmonised - Essay Example First off, the author claims to rediscover the issue of the internal market from the rational point of view in the scope of other relationships and vital constituents the nation gets in the economical and social sense. In this respect Davis admits that positive harmonization has a broader remit, because the Treaty makes clear that the internal market is to be a market which respects non-trade values.1 Given that, the movement of goods in the course of judicially confirmed agreements and arrangements should strive to be harmonized at a particular point of interaction within the internal market. However, such integration requires a deeper analysis of positive and negative implication related to selling arrangements and the point of harmonization. ... Due to the fact that the article 95 serves a powerful instrument toward establishment of more democratic ways of the internal market functioning, there is still less points on the equality proviso. On the other hand, the article 28 is put forward to reclaim the feasibility of the Courts to make sure the trade agreements are made in keeping with the best tradition of the European letter of law. To say more, the article takes notice of the national law regulations serving for proportionality as it is.4 Looking at harmonization through a lens of debates referred to the consumers’ rights, Keck doctrine emphasizes the extent of distortions. Therefore, the competition in trade relationships is merely based on the quality and transparency of the policy-making approaches by the trade companies, it is vital to mention that the distortions of competition is a normal phenomenon in the economic activity among different states. Davis highlights in his article that the difference in views o n the internal market development and the way it should be presented in a developed country serves a driven power for the emergence of distortions: In fact the relative cost differences resulting from more or less strict consumer contracts may well be extremely marginal. Consumer measures are not primarily concerned with quanta of damages, which might have, for some industries, significant economic impact5 Influence of selling arrangements cannot but be visible on a state’s performance in the world arena. The fact is that the de minimis rule is one of the core elements to provoke distortions as the opinions will differ regarding the commercial versus social implications for the society. Whereas article 95 is more relevant

What Is Economics Essay Example for Free

What Is Economics Essay Quoting Michael Yates, â€Å"The subject matter of economics is the production and distribution of output†¦Ã¢â‚¬  (Yates, 2003). So what does this say to me? Simplifying, this says to me that Economics is a way of explaining the world. With studies dating as far back as Aristotle’s interest in the various forms of state, how can one ever fully understand the complexities of economic thought and how could one definition ever sum up the entirety of what economists endeavour to understand? Meikle, Scott, 1995) The study of economics attempts to understand and to explain how and why the wealth of the world is produced, distributed, and consumed. It examines everything from global and local markets, class structures and wealth distribution, the role of government and politicians, supply and demand of products and services, the division of labour, and countless other factors that affect how and why the productions systems of the world economy function the way they do. Arguably, one of the most influential factors in defining the subject matter of economics is the division of labour. By influential I am not stating that I am of the opinion that the current distribution of labour it is positive factor to our current economic climate, just that it is an influential one. Although the famous theorist Adam Smith argued that economic growth, as a result of the productivity improvements gained, was rooted in the division of labour (Smith, 1776). He, among others, also came to acknowledge the many downsides of a deepening division of labour (Walker, 1886 Smith, 1776 Marx, 1847). Labour is distributed not only between countries and companies but also within each individual company. The wage disparity between middle and lower class and the wealth distribution between labourers and capitalists (business owners) that results from a deepening division of labour plays a much more significant role in determining what is produced, by whom it is produced, who is able to purchase these produced goods and services, and ultimately the subject matter of economics then one would initially assume. The division of labour does not only refer to the dividing of complex tasks into simple tasks so that many, easily replaceable labourers, complete one task over and over to produce a product, (associated mainly with the industrial revolution); the division of labour refers to the division of labour between organizations. In modern times, labourers from individual organizations produce goods for another organization rather than directly for a consumer. That organization then uses those goods, combined with their own, to produce a final product. This deepening of the division of labour resulted in the progressive substitution of self-sufficient production with industrial production and market exchange. (Schmidt, 2009) These worldwide networks and interdependencies between organizations, combined with the division of labour within the individual organization, further the disconnect between workers and the ownership of their work. They lose pride of workmanship, close personal relationships, direct access to the means of production, and they become â€Å"a mere appendage to the cold, implacable, pace-setting machine† (Hunt Sherman, 1986). Their work, or labour, is owned by the capitalist that owns the organization in which they work and they are left virtually powerless to control the economy in which they live. The labour of a CEO differs substantially from that of a production worker in an automotive factory, and so does the wealth accumulated by that labourer and the CEO and eventually, their heirs. The ‘labourer’ who accumulates the most wealth has the most influence over the means of production. This labourer, once they own the means of production and are able to determine what is produced and the method of production comes to be termed a ‘capitalist’. A capitalist makes no secret that goods will not be produced and dollars will not be invested in production capital, regardless of people’s needs, because production decisions in a capitalist economy are based primarily on profit (Hunt Sherman, 1986). This capitalist, and the wealth they accumulate, also has significant influence over the political economy that sets the stage for capitalism to continue to thrive and to encourage capitalist accumulation and further the deepening of the division of labour. It is in this way that capitalism and the division of labour drives our production economy and influences the global markets and the modern subject matter of economics.

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