Discuss the presence of islamic banking in Palestine Essay - 1

Discuss the presence of islamic banking in Palestine - Essay Example g products as per the needs of the targeted population, investors in Palestine sought to address the need of having a banking system that would be in line with Islamic laws and practices. The main that the Islamic law prohibits is that of money accruing interest, which is factor that dates back to the time of Prophet Muhammad (El Tiby 2010, p. 7). The interest for Palestine to start Islamic banks began in 1990 when businessmen started to push for the idea. This process began by the Muslim businessmen establishing a Finance Company that was to operate on Islamic principles, because the Israeli authorities had refused to oblige to this request. The company was named the Beit Elmal Al Philisti that was licensed for operation on 22 February 1994. Presently, banks in Palestine are classified as either conventional or Islamic banks with 83 % being the percentage of the conventional banks while the rest are the Islamic banks in The region (Sabri 2009, p. 58). The Islamic banks operating in Palestine include the Palestine Islamic Bank, Islamic Arab Bank, Cairo Amman Bank and Al-Aqsa Islamic Bank that were established between 1995 and 1998 (Palestine Investment Fund 2014). The main challenge that banks face is the fact that they have to compete in the same market as banks that were established more than 60 years ago such as the Arab Bank. However, this has not deterred these banks from making profits because they also provide investment opportunities that are attractive to the markets they target. Additionally, investment opportunities are scarce making competition between banks to be stiff and making it hard for new banks to penetrate this market (Gompert et al 2001, p. 121). Islamic banks, however, got into business based on them developing products such as Mudaraba, Musharaka, and Murabaha that provided new investment opportunities (Askari, Iqbal & Mirakhor 2011, n.p). The banks also had to devise new pricing so that they could attract profits based on the commission

Consensual Relationship Agreements Research Paper - 1

Consensual Relationship Agreements - Research Paper Example Establishing a baseline of individual freedom means that adults must be allowed to enter into consensual relationships with other adults (Eichner). States must not delegitimize relationships among consenting adults and relationships should be recognized. Sexual harassment litigation fears means more and more companies are scrambling to create appropriate policies to consider, define, and somehow regulate the demonstration of these relationships in the workplace (Powers, p. 20). Consensual Relationship Contracts Anywhere from 33% to as high as 70% of company employees have at one time or another admitted to being involved in an office relationship. Work provides opportunities for socialization among men and women that would not be possible anywhere else. Togetherness occurs naturally in a comfortable and mutual environment and the mutual grounding of close friendship will frequently develop into romance. Employees often rush easily into these relationships despite factors, such as the possibility the relationship may not work out, the organizational environment may prove to be too rigid or the affair would invoke the criticism of fellow employees. Workplace romance trends have been increasing for several reasons, namely, increased demands on free time, more women in the workplace and in management positions, and an increase in positions requiring travel and team projects. Guidelines should be implemented which accept the inevitable realities of on the job romance while also providing the organization with protection from the problems of relationship fall-outs. One half of all work place relationships are estimated to end in marriage, studies show that environments where peers are likeminded in respect to education, life experience, and work ability are more likely to be compatible and have lasting relationships. Relationships that break down and are not resolved amicably can leave employers facing a variety of possible claims. Issues, such as a failed transfer o f one employee after a relationship, could lead to litigation claims. Homosexual relationships could lead to sexual orientation discrimination claims if the individuals are not treated equally. Some employers choose to ban relationships among employees in order to avoid these issues through non-fraternization policies (Reeves, p. 20). Bans, such as this, run the risk of breeching human rights policy and are not likely to be effective considering the amount of relationships that now begin in the work place. Some employers are using contacts or consensual relationship agreements which require disclosure of a relationship, thus, giving the employer the opportunity to relocate one employee or the other to avoid conflict. These contracts have an uncertain legal status and enforceability has been tested numerous times in legal tribunals and lawsuits. Consensual relationship contracts are used in order to avoid sexual harassment and retaliation lawsuits, especially when relationships invol ve employees who are on different levels of authority. The majority of companies do not have policies in place regarding consensual