Ijaraha

IJARAH – (Lease to Own) In mode of financing, lease is simply a transaction in which transfer of a property from one person to another person for an agreed time period on rental basis. Ijarah is an Islamic leasing contract, representing one of the most common modes of Islamic finance currently practice. Its popularity is due to strong parallel to convential leasing concept. The process of ‘Ijarah’ is very simple and easy to understand. This has been derived from the Arabic term â€Å"Ujr† or â€Å"Ujrat† which means ‘consideration' or ‘return' or ‘wages'.In simple words ‘Ijarah’ defines; contract of hiring, renting and leasing. This mode of financing is use in case of equipment as well as property. This mode of financing is better for both lessee and lessor. According to Islamic Shariah based rule, Ijarah is an agreement between the two parties (Lessor and Lessee. In this mode of financing; an owner (Lessor) transfers i ts usufruct to Lessee for an agreed time period on contract basis. In return, lessee obligation is to pay specific rent or rental for a fixed period. Period of lease and rental determined at the time of agreement.In Pakistan, this mode of transaction gained popularity to purchase car. Several products have been introduced by banks and institution to facilitate customers and provide car on affordable prices and rental prices. Key words 1. The Lessor (Mujjir) – The individual or organization who leases out/rents out the property or service is called the Lessor. 2. The lessee: (Mustajir) – The individual or organization who hires/takes the lease of the property or service against the consideration rent/wages/remuneration is called the lessee (Mustajir). . The Benefit (Maajur) – The benefit that is leased/rented out is called the benefit (Maajur). 4. The rent (Aj'r or Ujrat) – The consideration either in monetary terms or in quantity of goods fixed to be paid against the benefit of the goods or service is called the rent or Ujrat or Aj'r. Some important aspects of Ijarah Financing †¢ Subject of lease should be clearly defines in the agreement with the mutually understanding of the both parties. †¢ At the time of Ijarah transaction, asset or equipment in the ownership of the lessor. Only consumable items are permissible to lease out. Non consumable items are strictly prohibited to lease out. Example: Money, Wheat. E. g †¢ Duration of lease must be mentioned clearly in the agreement. †¢ Lessee acts as an ‘Ameen’. In case of any damage to asset will be borne by the lessee. On the other hand, any other loss or harm outside the control of the lessee, lessor is liable. †¢ Rent should be known at the time of contract. The lessor can not increase the rent unilaterally. Rent will start after the delivery of the asset. Process Flow 1.In first step customer find the bank with the request for financing and ente rs into an agreement with the bank. 2. The Bank buys an item (car or equipment) from the vendor. 3. Bank takes delivery of the car and title of ownership from the vendor. 4. The bank makes payment to vendor. 5. The bank signs the agreement of lease with the customer and transfer usufruct. 6. The customer makes periodic rental payment as per the contract. 7. According to the agreement, at the time of maturity customer can purchase the asset from the bank with the help of separate agreement.Only Difference 1. In sale transaction, title of property usually transferred to buyer. 2. But in case of Ijarah, title remains with the lessor. 3. Only the use of the property is transferred to the lessee. 4. Lessee pays rent to the lessor as per as the agreement. 5. At the time of maturity bank signed another agreement with the lessee and lessor gift the asset to the customer. After this transaction, lessee becomes the owner of the asset. This practice is known as â€Å" Ijarah – Wal â₠¬â€œ Iqtina â€Å" Basic Elements of Ijarah AgreementAccording to Shariah, there are three general terminology used for Ijarah agreement as follows: 1. Wording of the agreement: Offer and acceptance word must be included in the agreement. 2. Contracting Parties: This includes a Lessor, the owner of the property, and a lessee, the party that benefits from the use of the property. 3. Subject matter of the contract: This includes the rent and the benefit. Rent Calculation 1. Islamic banks calculate the cost of purchasing the asset that is to be leased and intend to earn an amount equal to the rate of interest. . Agreement between the parties provides that the rental will be equal to the rate of interest or in addition to something. 3. While the rate of interest is variable, it cannot be set for the whole duration of the lease. 4. It is permissible to divide the cost price of the Asset and ownership of the Lessor to the Asset into several parts and to sell each part of ownership on pay ment of proportionate price/equity of the Lessor under a separate sale contract. Ijaraha IJARAH – (Lease to Own) In mode of financing, lease is simply a transaction in which transfer of a property from one person to another person for an agreed time period on rental basis. Ijarah is an Islamic leasing contract, representing one of the most common modes of Islamic finance currently practice. Its popularity is due to strong parallel to convential leasing concept. The process of ‘Ijarah’ is very simple and easy to understand. This has been derived from the Arabic term â€Å"Ujr† or â€Å"Ujrat† which means ‘consideration' or ‘return' or ‘wages'.In simple words ‘Ijarah’ defines; contract of hiring, renting and leasing. This mode of financing is use in case of equipment as well as property. This mode of financing is better for both lessee and lessor. According to Islamic Shariah based rule, Ijarah is an agreement between the two parties (Lessor and Lessee. In this mode of financing; an owner (Lessor) transfers i ts usufruct to Lessee for an agreed time period on contract basis. In return, lessee obligation is to pay specific rent or rental for a fixed period. Period of lease and rental determined at the time of agreement.In Pakistan, this mode of transaction gained popularity to purchase car. Several products have been introduced by banks and institution to facilitate customers and provide car on affordable prices and rental prices. Key words 1. The Lessor (Mujjir) – The individual or organization who leases out/rents out the property or service is called the Lessor. 2. The lessee: (Mustajir) – The individual or organization who hires/takes the lease of the property or service against the consideration rent/wages/remuneration is called the lessee (Mustajir). . The Benefit (Maajur) – The benefit that is leased/rented out is called the benefit (Maajur). 4. The rent (Aj'r or Ujrat) – The consideration either in monetary terms or in quantity of goods fixed to be paid against the benefit of the goods or service is called the rent or Ujrat or Aj'r. Some important aspects of Ijarah Financing †¢ Subject of lease should be clearly defines in the agreement with the mutually understanding of the both parties. †¢ At the time of Ijarah transaction, asset or equipment in the ownership of the lessor. Only consumable items are permissible to lease out. Non consumable items are strictly prohibited to lease out. Example: Money, Wheat. E. g †¢ Duration of lease must be mentioned clearly in the agreement. †¢ Lessee acts as an ‘Ameen’. In case of any damage to asset will be borne by the lessee. On the other hand, any other loss or harm outside the control of the lessee, lessor is liable. †¢ Rent should be known at the time of contract. The lessor can not increase the rent unilaterally. Rent will start after the delivery of the asset. Process Flow 1.In first step customer find the bank with the request for financing and ente rs into an agreement with the bank. 2. The Bank buys an item (car or equipment) from the vendor. 3. Bank takes delivery of the car and title of ownership from the vendor. 4. The bank makes payment to vendor. 5. The bank signs the agreement of lease with the customer and transfer usufruct. 6. The customer makes periodic rental payment as per the contract. 7. According to the agreement, at the time of maturity customer can purchase the asset from the bank with the help of separate agreement.Only Difference 1. In sale transaction, title of property usually transferred to buyer. 2. But in case of Ijarah, title remains with the lessor. 3. Only the use of the property is transferred to the lessee. 4. Lessee pays rent to the lessor as per as the agreement. 5. At the time of maturity bank signed another agreement with the lessee and lessor gift the asset to the customer. After this transaction, lessee becomes the owner of the asset. This practice is known as â€Å" Ijarah – Wal â₠¬â€œ Iqtina â€Å" Basic Elements of Ijarah AgreementAccording to Shariah, there are three general terminology used for Ijarah agreement as follows: 1. Wording of the agreement: Offer and acceptance word must be included in the agreement. 2. Contracting Parties: This includes a Lessor, the owner of the property, and a lessee, the party that benefits from the use of the property. 3. Subject matter of the contract: This includes the rent and the benefit. Rent Calculation 1. Islamic banks calculate the cost of purchasing the asset that is to be leased and intend to earn an amount equal to the rate of interest. . Agreement between the parties provides that the rental will be equal to the rate of interest or in addition to something. 3. While the rate of interest is variable, it cannot be set for the whole duration of the lease. 4. It is permissible to divide the cost price of the Asset and ownership of the Lessor to the Asset into several parts and to sell each part of ownership on pay ment of proportionate price/equity of the Lessor under a separate sale contract.

Earthquake Assignment

Earth Science 1 October 29, 2012 Homework Assignment 1. Explain how you should react or what you should do when you feel an earthquake if you find yourself in each of the following scenarios. Do not exceed the space provided. a) Indoors: I will stay calm and drop to the ground. I will take cover by getting under a sturdy table or other piece of furniture. I will hold on until the shaking stops. If there isn’t a table or desk near me, I will cover my face and head with my arms and crouch in the corner of the building. b) Outdoors: I will move away from building, streetlights, and utility wire. If I’m in the open I will stay there until the shaking stops. c) In a moving vehicle: I will stop as quickly as safety permits and stay in the vehicle. I will avoid stopping near or under buildings, trees, overpasses, and utility wires. I will proceed cautiously once the earthquake has stopped. I will avoid roads, bridges, or ramps that might have been damaged by the earthquake. d) Trapped under debris: I will not light a match or move about or kick up dust. I will cover my mouth with a handkerchief or clothing. I will tap on a pipe or wall so rescuers can locate me. I will Shout only as a last resort. Shouting can cause me to inhale dangerous amounts of dust. 2. What are the main things that you should do after an earthquake hits in the area where you are staying? In particular, discuss what you should do if you find yourself in each of the following scenarios. Do not exceed the space provided. ) Aftershock: When it is safe to move, I will exit my home. I will help my neighbors who may need assistance. I will give first aid when appropriate. I will not move seriously injured persons unless they are in immediate danger of further injury & call for help. * b) Tsunami: I will go to a designated public shelter if I have been told to evacuate or if I feel it is unsafe to remain in my home. I will text SHELTER + my zip code to 43362 (4FEMA) to find the nearest she lter in my area (example: shelter 12345). c) Electrical system damage: I will not stand in water. If safe to do so, I will turn off the electricity at the main fuse box or circuit breaker. If the situation is unsafe, I will leave my home and call for help. * d) Gas leakages: If I smell gas or hear a hissing or blowing sound, I will open a window and leave immediately. If I can, I will turn off the main gas valve from the outside & call the gas company from a neighbor’s residence.

Texts in Time Essay Orwell’s 1984 and the Matrix

Texts in their Time essay A text is a mirror for the concerns of a time and place. Orwell’s â€Å"1984†and the Wachowski brother’s â€Å"Matrix† can be viewed as a mirror into the concerns of a time and place. â€Å"1984† depicts how a hierarchical world tyranny is set up, how it stays in power, how it treats people and what life is like living under such a system. The â€Å"matrix† is also a representation of how the world as ‘we’ know it can be manipulated into the unknown or changed to suit the ideology of one higher power.The matrix is also seen as a situation that the majority of human kind cannot relate to; it is a scenario that is not only out of their control but a scenario that the average human cannot comprehend it goes beyond a control system that the average human brain cannot relate to. The matrix brings forward concepts that do not play to everyday life. Orwell vision of 1984 was shaped by his experiences though out his time as a volunteer in the Spanish civil war and upon returning to Britain post-war when the country was a place of shortages and rationing.Orwell struggled against fascism, but was intent on destroying its anarchist and Trotskyist allies. The defeat of fascism involved the success of and the emergence of the USSR as a great power. Orwell was deeply concerned about this fact. Orwell remained a believer in the fundamental goodness of the â€Å"common people†, the workers or â€Å"proles†. Due to Orwell’s personal circumstances, his fading life expectancy from tuberculosis may have influenced the bleak creation of the world that is â€Å"1984†. â€Å"1984† is a text which depicts the story of Winston smith who is a common man or a member of the outer party in the hierarchy of the ‘big brother’ system.The â€Å"1984† world is a totalitarian society where the party or big brother tries to control everything, including thought a nd emotion. Big brother is a dictator ship which controls every movement in society through constant surveillance and harsh penalties for noncompliance such as torcher or death. Big Brother is the face of the party; the party is the very dedicated dictator ship which has complete control over Oceania during the war with Eastasia and Eurasia. Big brothers slogans are repetitive and contradictory; WAR IS PEACE, FREEDOM IS SLAVERY and IGNORANCE IS STRENGTH.Newspeak is the official language of Oceania which had been created to meet the ideological needs of Ingsoc. Ingsoc created newspeak to eventually fade out free thought, with newspeak no man or woman could commit thought crime and no person would be able to attempt to break up the party that is big brother. All words are groupings in newspeak. All concepts of liberty and equality, for instance, are all contained in the single word of ‘crimethink’, while all words grouping themselves round the concepts of objectivity and rationalism were contained in the single word of ‘oldthink’.The Wachowski brother’s â€Å"Matrix† is a post-modern text which was filmed in 1999. The matrix is part of the I. T. revolution created to depict the perfect world. The matrix is about a computer hacker ‘Neo’ who is forced into the realisation of the matrix, the matrix was created to imprison you in the massive artificial intelligence system which has tapped into people’s minds and created the illusion of a real world, while using their brains and bodies for energy.Morpheus is convinced neo is the is â€Å"the one† who can destroy the matrix and bring his people to both physical and psychological freedom. The matrix can be described as a window into the reality of the spiritual world where as humans cannot understand yet we make assumptions about a higher power this can be linked with Orwell’s 1984 with the concept of ‘big brother’ with the matrix is described as an illusion of the physical world which can be controlled through the thought of neo as he is â€Å"the one†.In the matrix and Orwell’s 1984 the futures depicted are similar yet vastly different, the matrix depicts the future as a horrible emotionless place which has very little hope for humanity, whereas Orwell’s 1984 the future still has a bleak outline but through manipulation of the language the people have no idea how to realise that their future is bleak and or domed where as if the party was to diminish the people due to the fascist ways of big brother normal society would not be able to function as the big brother system had desterilised common knowledge of life without I higher power.To conclude I believe that Orwell’s 1984 and the Matrix have been a great comparative study.

Determination of Quinine in Tonic Water Essay

i. The selectivity of fluorimetry is greater than that of absorption spectrophotometry as it depends on excitation, absorption and emission spectra. As for fluorimetry, when molecule absorbs radiation and become excited, fluorimetry detects the intensity of light emitted from the molecule returns to ground state from excited state. Fluorescence is good at rigid molecules as it absorbs UV radiation. When two compounds are excited at the same wavelength radiation, they would emit different wavelength radiation as different compound has its unique spectrum. ii. Second, the sensitivity of fluorescence is greater than absorption spectrophotometry. As for absorption spectrophotometry, the concentration is directly proportional to the absorbance. However, in fluorimetry, concentration is directly related to the luminescent radiant power which is measured against a very small background. Moreover, flourimetry is easier to measure the small difference. Disadvantages: i. Quenching is resulted in a variety of processes such as excited state reactions, energy transfer, complex formation and collisional quenching occur. This will decreases the fluorescence intensity of a given substance and affects the experimental result. ii. Standard solutions or the fluorescent cells may be contaminated, leading to absorption some energy of the incident radiation and transmitted radiation. It will interfere the experimental results. iii. The reflection or scattering of the incident or transmitted radiation in the fluorescent cell may influence the accuracy of the intensity of the fluorescent. iv. Fluorescent substance will undergo decomposition in fluorimetry which is related to the solvent which control the pH, temperature and pressure interfering the excitation-relaxation fluorescence process. The line will be broadened and fused together to give a less structured spectrum in the presence of solvent. 2. Define the term â€Å"quantum efficiency† for fluorescence processes. How does temperature affect quantum efficiency? â€Å"Quantum efficiency† for fluorescence processes is the ratio of the number of molecules that luminescence to the total number of excited molecules. For some species which do not have propriety of fluorescent, the quantum efficiency will approach to zero. The quantum efficiency of a highly fluorescent molecule may approach unity under certain conditions. The quantum efficiency of fluorescence in a lot of molecules will decrease with increasing temperature. It is because the kinetic energy of the molecules and hence the frequency of collisions will be increased with increasing temperature. Some molecules will convert the excitation energy to heat instead of emitting light. So the number of molecules emits fluorescence and hence the fluorescence intensity will be decreased. Result: A calibration curve with fluorescent intensity against concentration of quinine hydrochloride in ppm was plotted by using least square method. The least square equation of the calibration curve is y = 3629. 7x – 12. 157. From this equation, the amount of quinine hydrochloride in the sample was calculated to be 78. 645 ppm. Conclusion: The least square equation of the calibration curve was y = y = 3629. 7x – 12. 157 and by calculation, the amount of quinine hydrochloride in Schweppes tonic water was 78. 645 ppm. According to the US Food and Drug Administration (FDA), the limit of quinine content in tonic water is 83 ppm. The quinine concentration in Schweppes has not exceeded the limit.

Cardiovascular control in exercise, the contribution of central command and muscle afferents

Cardiovascular control in exercise, the contribution of central command and muscle afferents Cardiovascular Control in Exercise, the contribution of Central Command and Muscle Afferents The human body has the ability to easily adapt when exercise begins with many of these adaptations occurring in the cardiovascular system. It is well documented that at the onset of exercise heart rate (HR), blood pressure (BP) and muscle sympathetic nerve activity progressively increase to higher levels (Lind et al, 1964). These cardiovascular adaptations are controlled by either central (Central Command) or peripheral (exercise pressor reflex) mechanisms (McCloskey results from a study by Williamson et al (2002) have shown this through hypnosis. Originally an individual’s perceived exertion during exercise was thought to be independent of any force being produced, allowing the magnitude of CC to be seen (Gandevia et al, 1993). Williamson et al (2002) obtained results related to this idea; they found that the level of CC activated was related to an individual’s sense of effo rt independently of any force being produced. Increases in HR were found during hypnosis despite no exercise being performed and increases were therefore independent of feedback from afferents within the active limb.

Body Image and Identity Essay Example | Topics and Well Written Essays - 750 words

Body Image and Identity - Essay Example This makes quality interpersonal communication untenable and thus hinders the overall development of the personality. Another important issue that factors in good interpersonal communication is self awareness, which is, how well the person knows their own self. The statement that she makes about herself, "If only I weren't so fat, I could find clothes to fit me like normal people do", shows how she considers herself abnormal. Her experiences as an overweight child and the messages that she has received from the society have affected her temperament and have made her a shy person further deterring her from building good interpersonal skills. Reece seems to also have a hidden fear of facing and expressing her feelings, this fear makes her to shut out her friends during the 'fat days' when she is striving to attain her perceived ideal looks. Instead of making conversation she says "Leave me alone" and leaves the table leaving her friends behind. This prevents her from accepting professional advice or even encouragement and comfort from her friends. In order to improve her interpersonal communication, Reece should focus on her self-concept. By developing a positive self concept her communication will also improve. According to William Schutz, communication fulfills the three basic needs of inclusion, control and affection. By being aware of her needs, Reece can open up to her friends instead of shutting them out and thus open a channel of communication, which can lead to better self awareness and correct her skewed body image. This will also take care of the hidden issue of facing her feelings and her fear of expression. Reece sends negative messages to herself at every turn which further strengthens her unhealthy self-concept. When she looks in the mirror, her mind throws a message at her saying "you are fat, fat, fat". These messages contain ideas about her perceived unattractiveness and a discriminating society. These messages are probably the echo of her previous experiences and thoughts that were passed on to her through media and influential people in her life. Reece can make a conscious effort to send positive images to herself. This exercise will aid the unlearning of ideas she has already woven into her personality and make it easier to transform her body image and identity, and thus improve her communication. In order to do this she should also consciously isolate distorted feedback that the other person sends during conversations. By doing so Reece can prevent further damage to her body image. This means that she should be aware of the responses from people and be able to determine which o nes will influence her and which ones she should ignore while trying to understand in which way she has stimulated that kind of response. Both verbal and non verbal communication plays a role in how others respond to us. It is important to consider posture, gestures and facial expressions while evaluating responses. Effective solution to interpersonal communication involves two persons. There are two major concerns in interpersonal communication, self awareness, which we already discussed, and knowledge of the other person we are communicating with. When there is a higher degree of uncertainty about the responses to be expected from the other person the communication is not open and there is very little self disclosure. This leads the person to become

Advancements to allow fast HPLC Essay Example | Topics and Well Written Essays - 3750 words

Advancements to allow fast HPLC - Essay Example One of the major domains of chemistry that promises lots of advancements due to extensive research is Analytical Chemistry. Analytical Chemistry is a branch of chemistry that deals with the analysis of the chemical nature of matter. Analysis of chemical composition of matter is the supporting pillar to the development of any new product or structure. The collective term used for the various laboratory procedures available to separate matter into its constituent compositions to analyze their chemical nature is known as Chromatography. High Performance Liquid Chromatography (HPLC) is a type of Column Chromatography, which is used to separate a mixture into its constituent components with the use of chemical interactions. A series of chemical interactions are used in between the substance of subject and the chromatography column.Although the concept of Liquid Chromatography dates back to 1940s, the path breaking research, in the field of HPLC is being carried out on a large scale even t oday. More samples of matter are being analyzed for their chemical behavior than ever before in the recent times. Chemists, researchers and pharmaceutical companies need to perform chromatography on large quantities of samples. The call of the day is to speed up the process of HPLC while at the same time not forsake its accuracy. The solution is to speed up the process of HPLC by a magnitude. This process known as Fast HPLC is a boon to all people and organizations concerned. The most common principle behind Fast HPLC is rapid analysis using short columns. The particles filled in the columns are also short. Various developments are taking place in the HPLC technology to aid Fast HPLC and in all cases it is observed that Fast HPLC operate nearly five times faster while at the same time not sacrificing performance, reliability and simplicity. This report aims to enumerate the various developments that are being carried out in the field of HPLC that aid Fast HPLC. The HPLC process is described with relevant terms. Several research works being carried out are explained with the intended purpose of the research. Particular topics covered in this report include advancements in monolithic columns, small particle columns and high pressure and high temperature modes and relevant developments in other methods. The report aims at understanding the advantages brought about by these advancements in the field of HPLC. Specific concentration of the report is the developments in the field of columns used in HPLC. An analysis is made as to how, advances in the columns speeds up the process of chromatography. The applications of these developments are enumerated and an analysis is provided as to how the modern developments have changed the way the process is conducted. [1][2][3] Etc. The Process The performance of HPLC is affected by a number of factors. The most important among the factors are 'Column Efficiency', 'Performance of Mobile Phase', 'Performance of Stationary Phase', 'Injectors', 'Pumps', 'Detectors', 'Columns and Column Packing' and 'Automation'. Advancements in several of these factors have led to the development of Fast HPLC. Advancements: Fast HPLC Monolithic columns: A method popularly used as a separation media for liquid chromatography has been that of monolithic stationary phases and columns. These have not taken much time to become popular however some of their features have yet to be clearly studied. Researchers comment that chromatographic behavior of these columns should be studied along with their physico-chemical and structural properties to attain progress in their design and production. Recently a technique known as fast high performance LC is becoming popular for laboratory. Here shorter columns that have higher flow rates are used thereby analysis time is