Free Essays on Humanism In Antigone And Art

As indicated by the word reference humanism is an arrangement of believed that focuses on people and their qualities, limits, and worth. Identifying with this definition, Ancient Greece and their kin demonstrated they could communicate humanism for the duration of their lives, particularly in craftsmanship. Extraordinary bits of workmanship, such a models, artistic creations, paintings and even the composed craftsmanship keep on embodying humanism, even today, on occasion when Greek craftsmanship is as yet valued and keep on being a riddle. This is the reason individuals of all ages, race, and thought keep on visiting shows and exhibition halls to be captivated by this puzzle of humanism. In the play of Antigone, Antigone is a little youngster who is happy to chance her life so as to give her sibling an appropriate entombment. She is a lady of energy who is â€Å"in love† with adoration and, as it were, demise. In the first stasimon of Antigone she gives an incredible discourse to her sister. She discloses to her sister and crowd of the despondency and agony their dad left for them. She whines Zeus won't help each agony and sadness that they have experienced. Her and her family has just experienced so much torment and now this unwritten law by Creon is declared. She feels as though there is no motivation to be alive. She’s experienced so a lot and now even her own sibling can't have a legitimate internment. Antigone communicates how she feels, not even her stepfather doesn't regard her estimation of life and family. She sees her self-esteem is did not make any difference anymore. Why wouldn’t she endeavor this hazardous activity? She is a human an d feels love for her sibling. Love makes people do insane, unexplainable things. She is prepared and ready to acknowledge demise so as to follow what her heart needs. Humanism at it’s best. History specialists all through time have and proceed to decipher and look at antiquated Greek workmanship. One specific subject examined in the Greek pictures of the Gods. For instance, the figure of the Head of Zeus talked about in the talk. The figure is an exceptionally point by point... Free Essays on Humanism In Antigone And Art Free Essays on Humanism In Antigone And Art As per the word reference humanism is an arrangement of believed that focuses on people and their qualities, limits, and worth. Identifying with this definition, Ancient Greece and their kin demonstrated they could communicate humanism for the duration of their lives, particularly in workmanship. Extraordinary bits of craftsmanship, such a figures, works of art, wall paintings and even the composed workmanship keep on embodying humanism, even today, now and again when Greek workmanship is as yet valued and keep on being a riddle. This is the reason individuals of all ages, race, and thought keep on visiting shows and exhibition halls to be interested by this puzzle of humanism. In the play of Antigone, Antigone is a little youngster who is eager to chance her life so as to give her sibling a legitimate entombment. She is a lady of energy who is â€Å"in love† with affection and, as it were, demise. In the first stasimon of Antigone she gives an extraordinary discourse to her sister. She discloses to her sister and crowd of the sorrow and agony their dad left for them. She whines Zeus won't help each torment and anguish that they have experienced. Her and her family has just experienced so much agony and now this unwritten law by Creon is reported. She feels as though there is no motivation to be alive. She’s experienced so a lot and now even her own sibling can't have a legitimate internment. Antigone communicates how she feels, not even her stepfather doesn't regard her estimation of life and family. She sees her self-esteem is did not make any difference anymore. Why wouldn’t she endeavor this dangerous activity? She is a human and fe els love for her sibling. Love makes people do insane, unexplainable things. She is prepared and ready to acknowledge passing so as to follow what her heart needs. Humanism at it’s best. Antiquarians all through time have and proceed to decipher and inspect old Greek craftsmanship. One specific subject examined in the Greek pictures of the Gods. For instance, the figure of the Head of Zeus talked about in the talk. The figure is a point by point...

compare and contrast the cultures of the uk and your own country

thoroughly analyze the way of life of the uk and your own nation Thoroughly analyze the way of life of the UK and your own nation It is basic that each nation ought to elevate residents to ensure their societies and personalities. This is on the grounds that acknowledgment of a countries human progress is critical. Each nation has an alternate culture in light of national contrasts and history. Culture can be characterized as the qualities, convictions and view of a gathering of individuals. History, custom and religion are the fundamental effects on culture. Despite the fact that there are a few examinations between the way of life of Saudi Arabia and the UK, there are a considerably more noteworthy number of contrasts. This exposition will break down a portion of the primary parts of the way of life, for example, individuals, business, game, food and utilization of the web. Most definitely, in the two nations most of individuals will in general be well disposed and accommodating. In the University of Glamorgan it has been seen that all the school personnel do as well as can be expected to support their understudies, as was found in past staff at a college in Saudi Arabia. One of the great societies of British individuals is that they will in general grin at bystanders. This is likewise one of the significant attributes of Saudi Arabian culture, mostly in light of Islam. Nonetheless, one of the significant contrasts is that in the UK kids don't regard more seasoned ages. This is probably going to be a direct result of their childhood, where guardians didn't show them regard. (Vexen, 2004) notwithstanding childhood, the media assumes a persuasive job by celebrating renowned individuals who carry on improperly. The complexity is that in Saudi Arabia youngsters must be conscious of more seasoned ages. This is a direct result of strict reasons and a decent c hildhood from their folks. It is significant that individuals in the UK address the manner in which they bring up their youngsters. According to business, the comparability between Saudi Arabian and UK organizations is that their destinations are to develop their deals universally. Accordingly, business exchange is progressively pervasive between Saudi Arabia and the UK. In spite of this comparability, misconception culture can detrimentally affect business relations. This was shown where, as per â€Å"an Accenture study, 66% of 200 US business officials said that miscommunication emerging from social contrasts has caused issues while redistributing offshore.† (Silicon.com, 2006) This investigation shows a case of a potential effect of not seeing every others societies in business and exchange. With respect to, individuals in Saudi Arabia will in general play football, as do individuals in the UK. There are numerous delightful arenas in the UK, for example, the new Cardiff arena, and the equivalent was found in Saudi Arabia for instance King Fahad arena in Riyadh. Most of the people watching football in the two nations additionally will in general be keen on playing football. Be that as it may, it isn't took into consideration ladies in Saudi Arabia to play football for strict reasons. In the mean time, in the UK, England is extraordinary compared to other womens groups on the planet. (Ezine Articles, 2007) Although right now there are no ladies playing football in Saudi Arabia, it is likely they will do later on with explicit conditions. As far as food, most of individuals in the two nations will in general eat cheap food. This is on the grounds that life is getting quicker and busier, which means individuals possess less energy for cooking. For instance, individuals go to McDonalds and KFC to have a speedy lunch in both Saudi Arabia and the UK. One of the significant impacts is globalization. The fundamental difference is that Halal meat is significant in Saudi Arabia for strict reasons, while any meat can be eaten in the UK. Halal meat is slaughtered in an altruistic manner, and the UK could receive eating Halal meat to be progressively aware to creatures. (Official Planet, 2007) Concerning utilization of the web there is an extraordinary interest in the two nations. This is on the grounds that the web is fundamental for present day life, covering all needs. Specifically the web makes the world into a worldwide town through simple and quick correspondences. Be that as it may, there is a reasonable differentiation between utilizing the web in the UK and in Saudi Arabia. This is on the grounds that the media in the UK is practically liberated from limitations however in Saudi Arabia the media is leveled out of the legislature. For instance, as indicated by Alfred Hermidas article, research from the Harvard Law School found that 2,000 sites were obstructed by the Saudi government. Alfred Hermida composes that â€Å"Most of the boycotted destinations were explicitly express or about religion. Yet additionally trapped in the net were destinations about ladies, wellbeing, medications and pop culture.† (BBC, 2002). The explanation sites about ladies, for exam ple, iVillage, were blocked was for social and strict reasons. It isn't permitted in Islam to portray the assemblages of ladies when all is said in done. All things considered, the sites contained swearing which is likewise illegal. Sites about medications will have been sifted in light of the fact that the utilization of medications is disallowed by the law of Islam. Locales containing mainstream society are probably going to be confined in light of the fact that they can prompt extra conjugal relations as indicated by Islam. This is accepted to happen in light of the fact that for the most part youngsters will be affected by the individuals in the substance. In the UK it has been seen that web clients are allowed to utilize practically any site they wish. A few sites are risky for youngsters, specifically explicit sites, and it is sensible for guardians and governments to control them, to ensure our kids. Taking everything into account, despite the fact that there are some away from between the way of life of the two nations, there are likewise numerous distinctions. These distinctions are generally a direct result of religion and history. Later on all things considered, the connection between the way of life will change. It is entirely likely that later on ladies in Saudi Arabia will battle for progressively human rights, like those ladies in the UK appreciate. Besides, later on we will without a doubt discover progressively Arabic eateries in the UK. These progressions will be most presumably impacted by the web, hey tech and movement between Saudi Arabia and the UK. One of the most important suggestions is that on the off chance that we regard every others societies we will live in a perfect network. My desire is that each resident in Saudi Arabia and the UK will live in a palatable manner. References BBC (2002) Saudis square 2,000 sites. Accessible from: http://news.bbc.co.uk/1/hello there/innovation/2153312.stm [accessed 18 August 2009] Official Planet (2007) Your manual for Saudi Arabia. Accessible from: http://www.executiveplanet.com/index.php?title=Saudi_Arabia [accessed 20 August 2009] Ezine Aticles (2007) Englands Womens footballers twelfth Best In The World? Accessible from: http://ezinearticles.com/?Englands-Womens-Footballers12th-Best-In-The-World?id=565503 [accessed 18 August 2009] Silicon.com (2006) Cultural contrasts cause offshoring issues. 66% of executives state its the fundamental explanation bargains run into inconvenience Available from: http://services.silicon.com/offshoring/0,3800004877,39160348,00.htm [accessed 23 August 2009] Vexen (2004) An investigation of UK refuse culture. Accessible from: http://www.vexen.co.uk/UK/trashculture.html [accessed 22 August 2009]

The Changing Pronunciation of Leisure

The Changing Pronunciation of Leisure The Changing Pronunciation of Leisure The Changing Pronunciation of Leisure By Maeve Maddox At the point when I was around ten years of age, my auntie gave me a membership to a Disney comic. I recollect one issue in which Donald Duck and his nephews had a fortune map. Caught saying that he was looking for covered fortune, Donald attempted to hoodwink the lowlife whod heard him by asserting that what hed truly said was looking for rushed recreation. That was in the Fifties. When the recreation suit furor struck in the Seventies, relatively few Americans were articulating relaxation to rhyme with measure. Then again, I dont know about any individual who articulates covered to rhyme with rushed. Here are the present American ways to express these words: covered [bä•räd] rushed [hã »rä] treasure [trä•zhé™r] relaxation [läzhé™r] albeit a few people despite everything state [lä•zhé™r] What articulation changes have you seen since your were a youngster? Here are a few citations from papers that outline the utilization of this word: travel organization sells weeklong, little gathering excursions to Costa Rica, Morocco and Nicaragua. The excursions are part recreation, part administration: schedules incorporate somewhere in the range of two and three days of noble cause work, in a joint effort with a nearby (www.nytimes.com) A Tuscan excursion gives explorers a possibility for a urban experience with visits to the craftsmanship exhibition halls of Florence, the design of Pisa and the customs of Siena. Tuscany likewise is a goal for a restful outing that wanders through the open country, stops at wineries for tastings or takes a relaxation break in a spa town. Need to improve your English in a short time a day? Get a membership and begin accepting our composing tips and activities every day! Continue learning! Peruse the Expressions class, check our famous posts, or pick a related post below:100 Words for Facial ExpressionsDisappointed + PrepositionCharles' Pen and Jesus' Name

Frame the Case JohnsonJohnson and Dow Corning

Edge the Case JohnsonJohnson and Dow Corning The two organizations Johnson and Dow Corning were confined specific issues which helped the settle on a choice in their cases. Be that as it may, those casings likewise assumed the adequacy of the choice in cases viable. The decision of the devices for taking care of the issue and the vision of the issue are successful angles which are to be thought of while making a decision.Advertising We will compose a custom report test on Frame the Case: JohnsonJohnson and Dow Corning explicitly for you for just $16.05 $11/page Learn More Looking at the cases viable, it ought to be expressed that the distinction in the result of the governmental issues held by Johnson and Dow Corning was brought about by the casings which were utilized as windows and instruments. The fundamental thought of the Johnson Johnson’s Code of Ethics is to ensure that the clients are fulfilled and the items don't hurt their wellbeing. Also, there are a ton of different things which ensure that the edges have bee n effectively picked. In this manner, applying to the human asset outlines, political casings and emblematic edges, Jonson figured out how to stay fruitful and saved its positive picture. The company’s measures depended on the jobs, approaches, needs and connections of the association towards its clients. Numerous other moral perspectives assumed their job. Simultaneously, the disappointment of the Dow Corning organization might be clarified by the reference just to the political edges. The organization was disturbed for the contentions which may show up and needed to forestall those by methods for shutting the production lines and declining from the assembling. In this way, it might be reasoned that the selection of casings, both the windows and as apparatuses, assumes an extraordinary job in thinking about the picture of the organization and its psychological guide. Staying upon the distinctions in moral positions of the Johnson and Dow Corning, the Code of Ethics just as t he objectives of the organizations ought to be thought of. Johnson is the organization which takes care for its clients and for their wellbeing. Just the extraordinary consideration for the customers and the assurance of their fulfillment may make the effective business for the organization. Johnson manages various items and spreads numerous specialties at the world market. The issues and the shade of one specific item may cause the organization disappointment if effective promoting of different items. Dow Corning is the organization which creates just a single sort of the items and they accepted that the contentions they had were sufficient. The absence of enthusiasm for the organization picture might be clarified by the incredible assuredness of the organization chiefs in the powerlessness of the organization disappointment or the way that the issue can't be demonstrated. The inability to join the organization picture and the motivations behind the assembling has lead to the way t hat others got intrigued by the disappointment. Searching for the issues, the data was found. In this way, it might be inferred that the organization has lost the entire assembling simply because they would not like to lose some income.Advertising Looking for report on business financial aspects? How about we check whether we can support you! Get your first paper with 15% OFF Learn More The misfortune if there should be an occurrence of tolerating the disappointment and withdrawal of the disappointment item could be not exactly the conclusion of the entire assembling. The legislative issues and the edges picked by Johnson were aimed at the advantage of clients with the reference to the individual benefit, while Dow Corning was aimed at the individual benefit with making the interests of the clients the auxiliary concern.

China’s 1998 Summer Flood Disaster on the Tangtze

Jethro LeRoy Gibbs Ms. Shepherd Honors English 10 24 March 2013 Mighty Hell from the Yangtze China’s 1998 summer floods murdered a large number of individuals, influenced billions of individuals over the globe, left millions destitute, obliterated or harmed a huge number of homes, influenced millions sections of land of land, and slaughtered billions of dollars in their monetary status.One tragic factor that assumed an enormous job in the reinforcing of the mid year floods that China confronted and endured was human disregard (â€Å"Bad Planning†). Notwithstanding, one of the numerous huge components that are exceptionally essential in flood control is the world’s biggest force station (â€Å"Three Gorges†) otherwise called the Three Gorges Dam. Without the Three Gorges Dam capacity of controlling the stream floods, each late spring represents an extraordinary danger to the individuals who abide close to the Yangtze and its tributaries.But in spite of the confusions worried with the yearly waterway floods, the Yangtze assumed a huge job in setting up many exchange courses for a long time (Wakeman 492). Notwithstanding, since the early day break of human progress, the Yangtze River demonstrated to contain a portion of the lethal summer floods that China will ever understanding. The Yangtze is normally situated in the Eastern Lowlands, which additionally contains the greater part of China’s best farmland.In 1998, an assortment of surges of the Yangtze River brought about by deforestation, overpopulation, area, and inability to learn past missteps all brought about a high number of passings, a large number of vagrants, hazardous water borne maladies, and the testimonial in the modern and horticultural status; in any case, the guide and backing of China’s government, the United Nations, China’s armed force and military, and the unification inside the individuals of China in the long run welcomed a superior acknowledg ment on how the reiteration of its mid year floods could have been maintained a strategic distance from in the first place.In different words, the tumult and testimonial that was suffered by the numerous that were influenced by China’s redundancy of its assortment of summer floods made the administration, United Nations and supporting nations, armed force and the military, and the individuals a lot more grounded than previously, helping China to address its past errors so as to forestall further difficulty socially and financially. One urgent certainty that one must watched was that the various human blunders that happened before the year 1998 and the inability to address them participated in the mid year flood disaster.Deforestation was the primary conspicuous human mistake, particularly and explicitly in the Eastern Lowlands where the valley of the Yangtze River was topographically found (Wakeman 492). Deforestation brought numerous ecological issues which helped the late s pring surges of the Yangtze to build its size and the danger of harm (Lang). This occurred because of soil disintegration (Lang) and the expulsion of top soil (Gittings) which came about because of the absence of trees (Lang). Another natural issue was the absence of firm top soil because of the absence of trees which can make water run-off, particularly close to a waterway (Gittings).The main concern was that deforestation made the rich top soil vanish or scatter making water run-off which consequently urged floods to build its harm abilities (Lang). The developing populace of China additionally adds to the deforestation of China since individuals required land to live on. The second significant human blunder was overpopulation. Overpopulation in urban communities or territories inclined to fatal catastrophic events is bound to bring about higher number of passings and causalities (Gittings). More individuals mean a more popularity in food, land, and yields (Gittings) which aided c aused deforestation in numerous regions along the Yangtze.The third significant human blunder was the area where they manufactured their immense urban areas and homes. Where there is a waterway, there is the potential hazard or danger of a stream flood. All through the late spring flood calamity, a huge number of individuals were power to either escape or clear their homes as whole towns were cleared out and crops supported substantial harm (Ansfield). Flooding was constantly a negative factor to numerous urban areas, towns, and enterprises which were manufactured moderately near the Yangtze River in the Eastern Lowlands all through the eighteenth, nineteenth, and twentieth hundreds of years (Wakeman 492).Finally, the fourth significant human blunder was inability to improve after many flood catastrophes before the year 1998. The administration needed more assets to start a total intend to dodge summer flooding’s and fiascos that tails it (Gittings). The legislature needed on target, assets, work, and backing as indicated by this statement during the 1998 summer floods, where numerous Chinese flood casualties responded to an inquiry to who to accuse saying, â€Å"There was not something to be finished. China was excessively poor. China has such a large number of people† (Gittings).Thus, numerous casualties upheld for development yet fizzled in light of the fact that political force and complete social unification with the remainder of the nation was out of their group (Gittings). Most importantly human blunders not just set up the staggering Yangtze summer flood fiasco, yet in addition urged it to occur. There were extreme flood outcomes following China’s summer catastrophe. To begin with, the fiasco adversely affected socially, where frenzy and turmoil guaranteed in a considerable lot of the overflowed roads (Watson).But disarray wasn’t the main thing on overwhelmed avenues. Harms occurred in numerous business organizations, which were either harmed or annihilated by the floods putting thousands jobless (â€Å"YouTube†). As per a video recording the catastrophe, the whole boulevards and significant roadways were totally overwhelmed, just leaving sewage and unsanitary flotsam and jetsam behind (â€Å"YouTube†). The subsequent result was unsanitary drinking water. In any event, flooding as a catastrophic event can mess with the open drinking water making it harder to approach safe water (Watson).People who drink risky water can hazard getting sicknesses and diseases, for example, diarrheal (Watson). This lone put progressively negative focus on the casualties who were endeavoring to endure the fiasco. The third outcome was auxiliary harm complexities. Crumpled or harmed structures can make ruin and add more issues to the image as appeared in a video where it demonstrated rising waters encompassing underneath a harmed connect, brimming with caught survivors who were standing by to be safeguarded (à ¢â‚¬Å"YouTube†).Another case of basic harm was the advancement of numerous barriers and levees along the Yangtze River keeping down substantial rising waters to secure close by urban areas and mechanical focuses (Hutzler). Numerous embankments were set in zones inclined to flooding particularly approach the mechanical focuses and oil fields so as to shield them and shield them from influencing their financial status (Kurtenbach). The condition and quality of the numerous embankments truly was a passing and life circumstance for the administration, yet for the populace as well.Lastly, the fourth outcome was the ascent in medical problems. A model was the extraordinary shortage of safe drinking water. Drinking risky water can build the danger of getting diarrheal ailment which precisely occurred in numerous urban areas influenced by the Yangtze floods (Watson). Likewise, numerous emergency clinics and facilities were harmed, pulverized, or totally lowered submerged which caused a lack in medication and clinical gear for the many flood casualties (Hutzler).As the rising waters influenced millions, negative wellbeing variables, for example, colds, stomach ailments, looseness of the bowels, hepatitis, and ailments conveyed by waterborne parasites all compromised the flood casualties and those close by to which wellbeing Minister Zhang Wenkang himself attempted to caution that these elements were on the ascent (Hutzler). The many flood outcomes drastically carried annihilating harms to China and promptly alarmed the individuals and the legislature that changes and arrangements in its general public was expected to forestall further flood catastrophes.Agricultural, monetary, and modern harms were managed all through the mid year debacle. Truth: â€Å"Flooding across immense territories of China that started in June of 1998 had influenced in excess of 140 million individuals, pulverized 2. 9 million houses and destroyed 9,000,000 hectares of yields by July 15â €  (â€Å"China Moves†). In agribusiness, around 21 million hectares of land were submerged which disturbed effective cultivating and the development of harvests (Harding). The grain creation of 1998 was hard to achieve for the flooding’s cut back somewhere in the range of 11 million tons of summer grain reap (Harding).Also, cotton wheat and rice got hit the most noticeably terrible (Harding). Monetarily, misfortunes were evaluated around 85. 6 billion Yuan. Horticulture and the economy were amazingly connected with one another. For instance, the cotton business was exceptionally influenced by the Yangtze summer floods (Harding). Despite the fact that it despite everything had enough cotton to deliver for the utilization of China, flooding despite everything harmed some cotton handle accordingly driving a diminishing in its cotton trades (Harding). As it were, the decrease of cotton fares and imports extraordinarily harmed its monetary shipping.Thus, horticultural h ad a solid common bond with the economy, a bond where one can get influenced and overwhelmingly sway the other. In any case, that wasn’t the main intricacy, for billions of cash was spent by the administration (â€Å"1998†) to give food, water, and sanctuary to the flood casualties just as going through cash to tidy up and revamp the influenced urban areas and terrains (Ansfield). One model that can be inspected was a statement from the civic chairman of Qiqihar, â€Å"We need around three years to compensate for the overwhelming misfortunes brought about by the floods† (Gittings).When a cataclysmic event hits so unexpectedly, the harms can be so serious and reclamation of anything requires some serious energy and persistence. At last, the floods harmed the business of China. An aggregate of 335 oilfields were lowered submerged or influenced

Free Graduate School Admission Essay Samples

Free Graduate School Admission Essay SamplesIf you are applying for graduate school, there is one thing that can make the difference between getting into a prestigious university and getting passed by. The admissions essay is often the one factor that separates one school from another. Using admissions essay samples is a good way to get your message across without spending a lot of money or time writing it yourself.Graduate school admission essay samples can be found in a variety of places. Whether you are doing your research online or off-campus, you can find some great tips and ideas to use. While there are many different types of essays to choose from, these free college admission essays will help you put your best foot forward and help you make your mark.When you are looking for free school essay samples, there are several things that you should keep in mind. First, make sure you are not writing about yourself or your interests. Many schools prefer your message to stand out by sh owing who you are as a person, rather than by mentioning your interests.You may have a thesis or scholarship announcement that you want to go into depth on. These may be the topics you are looking for in a free essay sample. Often times, essays on your interests or your future plans are ignored by schools, as they are generally seen as very personal.Another tip is to be clear about your own message. It is easy to make an argument, but it is important to show your readers where you stand on an issue. Don't hesitate to write about a problem you may have faced while at school or what you are expecting to happen when you graduate.Some types of admissions essay samples will also tell you that all that is required is a few pages of written work. This is the perfect type of sample for the person who wants to write an essay in a week or who needs to finish their master in a short amount of time. Any college student can complete this type of essay, so take advantage of it.The hardest part of the admissions essay is usually when you need to present your case. It is important to understand that the admissions officer will have several different opinions about you and your application. To make your essay more compelling, you should know your audience before you begin.Admissions is about presenting yourself in a positive light and trying to persuade the reader to think the same way. It is also a good idea to present your essay in a logical order. Using free graduate school admission essay samples will make your writing process easier, and you will be able to get it right the first time.

Evaluation Of The Viability Of The Sukuk - Free Essay Example

This proposal aims to evaluate the current status and the viability of the Islamic financial Securities such as Sukuk as an alternative of the conventional financial securities like Eurobond in the context of the current financial crisis. I will outline the overall aims and objective of the research and discuss the various studies on growth of Islamic finance and decline of conventional finance in the background of the financial crisis. This paper will reflect an overall structure of the whole proposal. SIGNIFICANT FOR THE RESEARCH In the financial global market, the Islamic financial services sector is analysed to be gown at double digit rate(Bley Kuehn, 2005), involving over 200 financial institutions with assets estimated to exceed US$ 200 billion(Al-Dhahiri et al, 2003). Researchers (Hamwi Aylward, 1999) already has recognised that over the last decade, Islamic banking and finance has experienced global growth rates of 10-15 percent per annum, and has been moving into an increasing number of conventional financial systems at such a rapid pace that Islamic financial institutions are present today in over 51 countries (Sole, 2007 pp:1). This research is aimed at investigating the practicability of the Islamic Financial system as an alternative to the traditional financial system especially in the context of the recent financial crisis. The fast growth of Islamic banking and finance raises different important questions: Is the development in Islamic banking and finance a result of the comparative adva ntages of the Islamic banking concept or is it largely attributable to the worldwide Islamic recovery since the late 1960s (Chong Liu, 2007). The fact that Islamic laws forbid paying and receiving interest promote all parties in a financial transaction to share the risk and profit or loss of the project (Qorchi, 2005). In an Islamic contract the output and the quality of the project, ensures a more equitable distribution of wealth (Qorchi, 2005). AIMS AND OBJECTIVES The overall aim of this research is to review and evaluate significant growth of Islamic finance and financial securities as an alternative of the traditional financial system and financial securities which led to the current financial crisis. The objectives of the research can be further identified as: (1). the recognition of the basic concepts of conventional and Islamic financial system. (2). How did studies deal with financial crisis and its effect on the traditional and Islamic banking system. (3). what are the effects of current financial crisis on traditional bond market? (4). How does the Islamic Finance response to the crisis? (5). Is Islamic Securities à ¢Ã¢â€š ¬Ã¢â‚¬ ¢Sukukà ¢Ã¢â€š ¬Ã¢â‚¬â€œ feasible? (6). If Islamic Sukuk is feasible then can it replace the traditional Eurobonds? (7). If it is not feasible then can it co-exist with the traditional Eurobonds? Overview Conventional Financial system Everyone has to contact with the financial system and everyone is very well aware of the financial institution like banks, building securities, and insurance companies, each providing in its own way for every day needs, such as payment facilities through banks, convenient savings and access to home loans from building societies, and car, house, or life insurance. The other financial markets, like the Stock exchange where the securities are bought and sold, are an important market though very few are directly concerned with their activities (Van Harne, 1990). All these financial institutions and markets fit together into a network which comprises the financial system or conventional financial system (Brian, 1992). The conventional financial system based on debt and the fixed rate of interest. The borrower in gaining the high fixed returns may get default as these bonds and corporate securities are not backed by the assets or gold. The burden and all risk are transferred on the is suer. Therefore in try to get high returns and greed of getting more financial share the conventional borrower and mortgage prices went up which result in the drying up the financial market and major companies got default. Islamic Financial System The Islamic financial system makes possible lending, borrowing and investment functions on a risk-sharing basis (Ishaq Mansoor, 2008). Islamic finance is fundamentally different from the conventional finance model as it is based on a profit and loss structure (PLS), which requires that a financial institution invest with a client in order to finance their needs, rather than lending money to the client. Because of the inherent risk involved in an investment, the financial institution is entitled to profit from the financial transaction (IBID). (SBP, 2007). Islamic banking and finance industry has been making breakthrough developments to become a truly feasible and competitive alternative to conventional systems at the global level as an industry adding more ethical, competitive, flexible and diversified tools and systems to global financial marketsà ¢Ã¢â€š ¬Ã¢â‚¬â€œ (Ishaq Mansoor, 2008 pp: 708). The need for Islamic banking is prompted by three considerations: (a). An I slamic investor should keep away from alliance with industries forbidden to Muslims: such as; alcohol, gambling, pornography, meat packing (of pork), weapons production, and liquor. (b). An Islamic enterprise is advised to avoid interest (riba), as well as gambling, and, accordingly, constraints exist on transactions involved in debt securities and in futures and options. (c). Many Muslim investors tend to be attracted to enterprises monitoring the Islamic ethical and moral standards (Oà ¢Ã¢â€š ¬Ã‹Å"Sullivan, 1996). The Islamic finance industry has grown by about 15 percent on average over the last three years, with more than US$500 billion now lodged in Islamic banks, mutual funds, insurance schemes (takaful), and Islamic branches of conventional banks (Jobst, Kunzel, Mills, Sy, 2008). Islamic Law prohibits charging interest (Rajesh, K.A Yousaf, T., 2000). Islamic banking is currently practiced in more than 51 countries worldwide. In countries such as, Iran, Pakistan , and Sudan, only Islamic banking is practiced whereas other countries, such as Bangladesh, Egypt, Indonesia, Jordan and Malaysia, Islamic banking co-exists with conventional banking (Chong Liu, 2007). Therefore Islamic banking, is not limited to Islamic countries as In August 2004, the Islamic Bank of Britain became the first bank licensed by a non-Muslim country to engage in Islamic banking (Chong Liu, 2007). SUKUK Islamic securities have become increasingly popular in over the last five years, both as a means of raising government finance through sovereign issues, and as a way of companies obtaining funding through the offer of corporate Sukuk (Wilson, R., 2008) as Sukuk is to be use as a tool for liquidity management (Wilson. R., 2008), the Sukuk market continues to generate strong interest by new issuers in Muslim and non-Muslim countries. Sukuk (plural of Sakk) are commonly referred to as an Islamic bond, but a more precise translation of the Arabic word would be an Islamic investment certificateà ¢Ã¢â€š ¬Ã‹Å"à ¢Ã¢â€š ¬Ã‹Å"(Thomas, 2005). The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) defines the Investment Sukuk as a certificates of equal value representing undivided shares in ownership of tangible assets, usufructs and services or (in the ownership of) the assets of particular projects or special investment activityà ¢Ã¢â€š ¬Ã‹Å"(Norman, T. ,2009). Sukuk is an Islamic financial certificate, similar to a bond in Western finance that complies with Sharia, Islamic religious law. As the traditional Western interest paying bond structure is not permissible, the issuer of a Sukuk sells an investor group the certificate, who then rents it back to the issuer for a predetermined rental fee. The issuer also makes a contractual promise to buy back the bonds at a future date at par value (investropedia, 2009). Sukuk are monetised real assets (converting a government debt into available currency, especially issuing securities, that are liquid (easy to convert into cash), easily transferred and traded in the financial market (Adam, 2006). Likewise the Eurobonds are also liquid assets which are marketable and accepted by all the investors (www.independent.co.uk, 2005). Eurobonds are issued by a government, company shows potential to repay borrowed money at a fixed rate of interest at a specific time. Eurobonds are liquid and trusted bonds as it is backed by a fixed interest rate (ibid). Sukuk can be examined without any difficulty by international and regional rating agencies which facilitate their marketability (Adam, 2006). Likewise the Eurobonds are easily rated by the rating agency as these rating agencies rate these securities on the basis of the liquidity and the liabilities not on the basis of the religion and ethics (Standard Poorà ¢Ã¢â€š ¬Ã‹Å"s, 2009). As the agencies do not rate the securities on the basis of the religion, rather securities are rated on the basis of the quality and the ability of obligator to meet the obligations (ibid). Same like the similarities in the Islamic and conventional financial securities, there are few differences as well, and on the basis of that one system can be preferred on the other system. Starting from the type, the conventional financial Security is a debenture bond whereas the Sukuk are the Secured securities. Debenture bonds are those securiti es that is unsecured corporate bond by any mortgage, dependent on the credit of the issuer (Dictionary Reference.com, 2009). Whereas the Sukuk are backed by the real assets such as they are attached with the assets which can be turned into tradable in the future or can be replaced by the real assets (Richardson Abdl-Khaleq, 2007). Eurobonds are paper bonds whereas the Sukuk securities are really assets based security which have potential to convert the security into tradable asset in future. Secondly, the major difference in Sukuk and conventional bond is the right of ownership. As Sukuk represent the ownership opportunity in existing or well described assets whereas conventional bond represent pure debt on the issuer (Adam, 2006). LITRATURE REVIEW The relative success of the Islamic finance is remarkable (Bley Kuehn, 2005)as islamic finance institution are making progress with the grwoth rate of 15-18% which is double the average growth rate of conventional finacial institutions (Saifi, 2004). We will discuss A review of the litrature on traditional financial system (TFS)and Islamic financial system( IFS) and the security markets. That is devided into sections as will be reviewing the litrature on the decline of the popularity of the TFS and the growth of the IFS over the last two decades. The litrature review basically discuss information of three area on which research will be carried: (a) traditional banking system and its downfall, (b) islamic financial system and its growth, and (c) the empirical investigation of the feasibility of islamic financial securities to alternate the traditional finacial bonds to raise funds for the projects. BACKGROUND FOR STUDY The current collapse of banking and financial institutions raised a question as interest rate has long been recognized not only by classical and neo-classical economists but also by contemporary economists as one of the factors that determine the level of savings in the economy. Although there are cases of inconsistent findings, it is a generally accepted opinion that interest rate has a positive relationship with savings (Ahmad Haron, 1999). Generally, financial institutions perform two functions; one is to collect deposits and the other is to issue loans (Toutounchian, 1996). Depositors are guaranteed a predetermined return on the nominal value of the deposit by the bank even in most of the cases the deposits are insured (ibid). Hence it can be argued that the traditional financial system plays a passive role in the economy, is operating to face any economic fluctuations (ibid). It is argued that in these banks since the nominal value of the deposits is guaranteedshocks that can lead to banking crisis can cause divergence between real assets and real liabilities and it is not clear how this equilibrium would be corrected and how long the process of adjustment would takeà ¢Ã¢â€š ¬Ã¢â‚¬â€œ (Mohsin, 1985). This is the real essence of fund intermediary function of a traditional finance (Toutounchian, 1996). Islamic finance can simply be defined that it is based on the basic principle of the prohibition of the riba as Islamic institutions does not charge interest but rather participates in the yield resulting from the use of the funds( Lewis Algaoud, 2001). Ebrahim Safadi ( 1995) advocates that islamic finance operations are according to the profit and loss sharing principle which are superior financial security to debt for many reasons including risk sharing of the equities (Hamwi Aylward, 1999. Liu Chong(2007) are of the view that the islamic finance is not different from the conventional finance as the unique feature Profit and Loss sharing ( PLS) practically is very similar to the TFS as islamic financial products based on the PLS are not interest free beacuse pegged to conventional deposits(ibid). On the other hand the basic pillar of the conventional financial system is interest rate and fixed income securities have been accepted globally in raising finance for funding large development and capital expenditures (Usmani, 2006). A fixed income security is an investment which provides a return in the form of fixed periodic payments and ultimate returns of principal at maturity (Usmani, 2006). The motivations of firms that issue global bonds is particularly to test whether firms are motivated to offer bonds in multi-markets to raise more capital, take benefit of being well-known in foreign markets and owing to poor domestic economic conditions (Tawatnuntachai Yaman, 2008). The bond market robustness converts into depression when financial crisis which started in 2007 has created the greatest financial dislocatio n since the Great Depression of the 1930s (Melvin Taylor, 2009). The Eurobond which are based on fix interest rate and guaranteed of fixed return failed to impress the investors in an auction (Kaminska, 2009). In addition, the loans rate set in the fixed income market will have large effect on the demand for properties, and thereby prices, one would strongly believe that securitised property prices are determined by the interest rate changes rather than the stock market (Cheong, Wilson, Zurbruegg, 2009). Financial markets are intergrated now a days and no single economy can avoid the effect of the financial crisis (Chapra, 2007). If the financial system is not responsible for the crisies then why there is a general nervous feeling that à ¢Ã¢â€š ¬Ã¢â‚¬ ¢something is wrong with the financial systemà ¢Ã¢â€š ¬Ã¢â‚¬â€œ (Stiglitz, 2003, p: 54 On the other hand, the Islamic finance manages the affair without involving the pre-agreed interest payment and receipts that replace the interest-based intermediation between the borrower and the lender with profit and loss sharing and equity based link (Bhatti Khan, 2009). CURRENT FINANCIAL CRISIS The credit crunch refers to a sudden shortage of funds for lending, leading to a resulting decline in loans available (Blog, 2008). A Credit Crunch can occur for various reasons such as sudden increase in interest rate, direct money controls by the governments and a drying up of funds in the capital market (Blog, 2008). The crisis started in 2008 in US supreme mortgage market and widely spread all over the world which raised a question that why this has system collapsed which leads the splillover effects from US sub- prime crisis to UK by far the most transparent and worrying for the authorities that exposed the tension between the central banks with respect to the provision of liquidity support facilities, the difficulties inherent in the economy for dealing with the banking crisis, defects in banking economy regulation and supervision and the glaring flaws in deposit protection arrangements (Maximilian, 2008). Islamic Finance Response to Crisis Principles of Islamic Finance The first principle has an effect on the depositors à ¢Ã¢â€š ¬Ã‹Å"behaviour and their decision-making process. The choice of action is based not only on the immediate financial returns but also on those returns in the hereafter. Since Islamic banks operate on an interest-free basis and their establishment is designed to improve Muslim communities. In the case of the second principle that involves wealth, Islam has given a clear guideline to be followed by Muslims. The essence of Islamic finance summarised by the Charles FÃÆ' ¨vre, 2006 is as following: Interest rate, taking or receiving on transactions is prohibited. Capital must have a social and ethical purpose further than pure, unfettered return; Investments in those businesses which are dealing with alcohol, gambling, drugs or anything else that the Sharià ¢Ã¢â€š ¬Ã¢â€ž ¢ah considers unlawful and unwanted, are prohibited. Transactions involving masir (speculation or gambling); gharar, or uncertainty abo ut the subject-matter and terms of contracts are forbidden which includes a prohibition on selling something that one does not own. As the interest-earning on investments are restricted, Islamic banks obtain their earnings through profit-sharing investments or fee-based returns (Charles FÃÆ' ¨vre, 2006). Traditionally an Islamic bank offers two kinds of services: firstly; it provides services for those on a fee or a fixed charge, such as safe deposits, fund transfer, trade financing, property sales and purchases or handling investments (IBID). Secondly; those that involves joint ventures in investments and the sharing of profits and losses (Charles FÃÆ' ¨vre, 2006). REASEARCH METHODOLOGY Methodology is a set of tools, techniques, procedures and investigative methods, used to collect, store, analyse and present information. Scientific methodology involves the development of hypotheses and predictions, investigating the manipulation of particular variables while maintaining all other variables constant, using measurable, objective measures and statistical analyses in order to come to conclusions about the topic under investigationà ¢Ã¢â€š ¬Ã¢â‚¬â€œ (inspiritive.com, 2009). Research can be defined as à ¢Ã¢â€š ¬Ã…“something that people undertake in order to find out things in a systematic way, thereby increasing their knowledgeà ¢Ã¢â€š ¬? (Saunders et al, 2003). Research methods are the means by which knowledge is acquired and constructed within a discipline. It needs to be both relevant and rigorous in order to be accepted as legitimate within a particular field of knowledge (Harvey Myers, 1995).whereas Leedy Research methodology can be explained as the process carried out to achieve the overall aim and objectives of the research (Saunders et al, 2003). What does Research Methodology Include? The research methodology involves primary data and secondary data. The primary data collected are more consistent with our research questions and research objectives. With the help of primary data the reasons behind consumer behaviour, management decisions or problems faces in internationalisation efforts can be identified (Ghauri Gronhaug, 2005). According to Hussey and Hussey, (1997, pg.149) à ¢Ã¢â€š ¬Ã¢â‚¬ ¢original data is known as primary data, which is data collected at sourceà ¢Ã¢â€š ¬Ã¢â‚¬â€œ. Primary research provides information and data which doesnà ¢Ã¢â€š ¬Ã‹Å"t already exist. Some of the methods of primary data collection include: Focus groups, Interviews, Observation and Questionnaires (Saunders et al, 2003). According to Saunders et al., (2007, pg.272) à ¢Ã¢â€š ¬Ã…“data that have already been collected for some other purpose, perhaps processed and subsequently stored, are termed secondary dataà ¢Ã¢â€š ¬?. Data can be collected internally or externally from th e available materials for literature. These materials come from books, journals, articles, research papers, conference proceedings, newspapers, theses and internet sources. It includes both quantitative and qualitative data and they can be used in both descriptive and explanatory research. Within business and management research such data are used mostly in case study and survey-type research (Saunders et al, 2003). Research Methods Generally available methodological options for Research are two: qualitative research and quantitative research (Ticehurst Veal, 2000). Qualitative Research The purpose of qualitative research is to describe a certain process or problem, to interpret a particular problem and to develop new theoretical concepts and perspectives, to verify the validity of certain problem, and to evaluate the effectiveness of the chosen particular problem (Leedy, 2005). The qualitative analysis based on meaning expressed through words, symbols, interpretations, actions and behaviour (Thornhill et al, 2003). Quantitative research Generally, quantitative research is used to answer the question about relationships among measured variables with the purpose of explaining, predicting, and controlling phenomenon ( Leedy Ormord, 2005). Whereas, Thornhill et al, (2003) stated that in quantitative analysis, the data is based on meanings from numbers. The collection results in numerical and standardised data and the analysis are conducted through the use of diagrams and statistics (Thornhill et al, 2003). The aim of the project can be viewed as qualitative, explanatory, and comparative. To fulfil these aims, the study intends to use the qualitative comparative research strategy (Bryman Bell, 2003). As Leedy Ormrod (2005) noted that qualitative researchers commonly use triangulation for the validation of the research. Comparative Analysis Given the options, qualitative research will be carried out where the literature to be reviewed will be mainly secondary data. The results obtained from the data can be validated by using the above mentioned strategies and comparative analysis which is suggested by Leedy Ormrod (2005) to fulfil the requirements of research. As the Max Weber (1968) also develop approach for social and economical analysis based on comparative method to identify that the researcher plays primary role in outlining research questions, categorizing elements of analysis, and the topics for comparison rather than assuming an objective separation of the researcher and data, as he is of the view that this kind of approach does not confuse researcherà ¢Ã¢â€š ¬Ã‹Å"s conceptualization of the under research phenomenon and phenomenon itself. Comparative analysis facilitates researcher to investigate the problem from a recognized starting point and the investigate other aspects of the object during analysis (Web er, M., 1968 cited in: Google, 2009) Data Collections and Methods In order to achieve the aims and objectives of the research a series of the reviews will be conducted on available literature on Islamic Finance and Conventional finance, particularly the Islamic securities. Islamic source of finance, Al- Quran, Sunnaà ¢Ã¢â€š ¬Ã‹Å"ah, Shariaà ¢Ã¢â€š ¬Ã‹Å"a Laws, and Hadiths books have been taken into account to get information about the Islamic financial principles, and the regulations which are applicable to the finance. This research is based on secondary data which is collected by using research techniques, procedures and instruments such as 1. Journals 2. Books 3. Libraryà ¢Ã¢â€š ¬Ã‹Å"s web based services such as ABI/Inform, Proquest system, Jstor, Emerald. 4. Newspapers 5. Internet and internet article As qualitative comparative analysis will allow the researcher to outline the research objectives and categorizing the elements of the analysis and the choice of selection of the topic to analyse. The comparative analysis will helpful throughout the research to investigate the selected topic from a recognised point and researcher will be able to investigate the other aspect of the analysis. The methodology will be persuaded towards an approach in order to analyse appraise views on the Islamic financial system and Islamic securities in detail as an alternative to the traditional financial system in the context of current financial crisis by presenting and discussing with supervisor as to how he see the future of Islamic and traditional banking following the direction in which it is undertaken. LIMITATIONS This research may have few limitations The main concern is the collection of basic qualitative data from reliable sources mainly from university web based sources and Google scholar search materials; the challenge will be the identification of the reliable sources as often there will be situation where the results can vary from source to source. Sorting the reliable data from since the resources have vast options and all of them might not be having the same facts and figures which will be may required more time than expected in research process. Another limitation that may occur and cause the research to be narrowed and summed up sooner is for the research to miss out on some useful information which would be useful if taken under consideration. As for the vastness of the topic it is a concern that could be distracting as religious validities can be possible but main focus will be managed throughout the research. This research is a qualitative comparative analysis which is de pending on the secondary data that may lead research to be limited as collection of data is generally more time consuming and the time is limited and it is not possible to studied wide range of literature which can make difficult to make a systematic conclusion. Drawn Conclusion Comparison of the both system (Islamic Financial System and Conventional Financial System, major will be the Islamic financial securities and conventional bonds) will formed the ground for the conclusion depending on the information gathered from research.