Communication In Economics Essay Example | Topics and Well Written Essays - 1000 words

Communication In Economics - Essay Example It is a complete guidance in social, political, economical and other aspects for the Muslims. The Koran gives a clear direction in dealing with common issues from warfare, governance of states, marriages, doing business etc. Islam focuses on doing any act in accordance with equality and justice. The Islam has prohibited some of the issues, which are considered to be today's key of success. One such concept is the prohibition of Interest. But Islam gives the complete rational reasoning for it's the things, which are included and excluded by Islam. In today world, one of the main reasons for the businesses running successful in western world is because of mortgage and interest, however, Islam strictly rejects the concept of Interest in Islam. There are number of verses of Koran in which Interest has being strictly condemned. Interest in Arabic language is called 'Riba'. Interest is some amount of money received or has to pay for in order of lending and borrowing of assets. Islam has termed Riba as prohibited because a person is paying additional charges to which he not accounted to, and similarly earning extra money which he has earned without making an effort. Such type of earning is called earning easy money. For instance, a person has invests $100,000 as his savings in a bank at an annual interest rate of 5%. After one year, his savings will be $ 105,000. This additional $5000 amount is the easy earning that he has got, Islam calls these as Haram (prohibited) according to Islamic laws called Sharia'a. Islamic Banking: Now in Islamic states, in order to curb interest, many Islamic banks introduced Islamic finance, which does working according to Sharia'a. This type of banking started in 1970's. The Islamic banks works risk sharing system, in which the banks and the customers share profits under agreements. The people have the option of whether making an Islamic account or not. These banks have introduced La-Riba system (interest free) finance. When a person is making a saving account in a bank, he has two options. Either makes an account on zero interest or charge interest on it. In case of zero interest, he will receive the same amount that he deposited i.e. if he has invested $100000, he will receive $100000 on his withdrawal. Where as in the second case, where he can ask for the interest, he has two alternate. Either he can ask the bank to deducted Zakat (Islamic charity system) or can take additional interest amount with him, and donate into welfare or charity himself. In this way, he is not us ing additional money for his personal use. Similarly, there are banks that offer loan on zero interest i.e. if a person wants loan, he can pay it off without giving additional charges. For instance, if a person wants loan for construction of his house, he asks for a loan of $500000, then he only has to pay this amount in installments. However, it is suggested that it is better to invest your capital in project rather than banks. Because when you invest in a project, there you would be dealing with risks not with the Interest. New Products Offered by Islamic Finance: Since the arrival of these Islamic banks, there are some special Islamic products, which are being bought into the market. These products designed in accordance with Sharia'a laws. These products include Ijara, Murabahah, Musharakah, Mudarabah, sukuk etc. The basics of these products are discussed below Ijara is a type of Islamic leasing.

Sustainability plan Coursework Example | Topics and Well Written Essays - 2250 words

Sustainability plan - Coursework Example Sustainability principles were applied in all areas of activities of the Games that helped to achieve the broader objectives of sustainable legacy plans. The five themes vis-a-vis climate change; waste management; biodiversity; inclusion; and healthy living were major platforms that exploited sustainability principles to bring about major change in the behaviour of the people as well as initiated a new paradigm of sustainability within sports. London 2012 Olympic and Paralympic Games successfully achieved its sustainability objectives as defined within its plans. Introduction Sustainable development practices have become one of the most crucial issues of contemporary times. Scientific advancement, globalization and lifestyle changes have brought mixed blessings in people’s lives. While they have contributed to better living conditions, they have also been linked to degradation of environment that threatens the survival of human species on earth. The adverse effect on the ecolo gy necessitates development of effective mechanism that would address the issue of sustainable practices within our lifestyles. The environment conservation and preservation need to be intrinsically linked to human activities so that finite resources of the nature could be sustained for future generation. ... The paper is an analytical business report on the success of the London 2012 Olympic Games in terms of sustainability. Overview of London Olympics London 2012 Olympic Games were held from 27 July to 12 August 2012 which was followed by Paralympic Games from 29 August to 9 September where 300 events were held. 205 nations took part in Olympic Games and 147 nations in Paralympic Games. 10, 568 athletes participated in the games with women making 44% of the competitors. The games witnessed more than 25,000 artists across the countries, 70, 000 volunteers, nearly 1.5 million people visited free events at festival, 1,450,000 visited gallery and museum and over 600,000 people attended events, performances etc. at the games (IOC-2, 2012). Managing and catering to the needs of gigantic number of people was a major challenge for London Olympic committee, especially when sustainability was critical issue across all activities of the Games. The responsibility for organizing the games was primar ily on LOCOG or London Organising Committee of the Olympic Games and Paralympic Games and ODA or Olympic Delivery Authority. The two organisations were supported by various stakeholders like Minister of Olympics, Mayor of London and British Olympic Association. The main partners were: London Development Authority (LDA), Olympic Park Legacy Company (OPLC), Transport of London, British Paralympic Association; six host boroughs vis-a-vis Barking and Dagenham, Greenwich, Hackney, Newham, Tower Hamlets and Waltham Forests; and sponsors and commercial partners (London 2012 sustainable plan, 2009). LOCOG was meticulous in its strategic planning and earned gold in Environmental and Sustainability category of the 6th International Sports