Effect Of Arab Spring On Arab Countries

Effect Of Arab Spring On Arab Countries The 18th and 19th century witnessed the colonisation of majority of Arab countries. The discovery of oil in Persia in 1908 subsequently in Saudi Arabia in 1938 has been one of the significant development in the Arab world. France, the United Kingdom, Spain and Italy. Though most of these states gained independence in the 1950s and 1960s, but the region has traditionally been characterized by dictators, hereditary monarchies, long serving military regimes and autocrats. These forms of rule deprived these countries from the winds of change . 11. The Arab countries are mostly deprived of Human Rights,lack of freedom of public opinion and expression, fear of regimes, corruption, favouritism and nepotism. Transparency has receded giving way to all sorts of malpractices and misuse of power. All this led to economic degradation and a fall in national income in most of the Arab countries during the past 60 years. 2 The main reasons for Arab Spring in mostly affected countries are as under:- (a) Tunisia. The revolution was sparked by a youth setting himself ablaze due to poverty and the resultant confrontation with security forces. (b) Egypt. The movement was a call for better economic conditions and opposition to inheritance of power. (c) Libya It was against suppression and the rule of one man without any political institutions. (d) Yemen. it was against the dictatorship of one man and his tribe. (e) Syria. It was against family and sectarian dictatorship. 3. Though this revolution was triggered by different factors specific to their own unique socio-economic and political structures but they have one unifying factor that they have been all youth-led movements. 2. However the roots of the Arab Spring lay in the following factors:- (a) An entrenched dictatorship/autocracy/monarchy vs the peoples desire for freedom and democracy. (b) Widespread corruption on the part of the ruling elite. Frequent violation of human rights and brutal repression by the national security force. The rich poor divide getting wider. High cost of living that was constantly on the rise and low income. Lack of adequate job opportunities and the high rate of unemployment among the educated youth. Rejection of the idea of the inheritance of presidency. Social network media namely, facebook and twitter ,which served to rally the youth. 3. There has been a monarchical exception in the Arab Spring which makes one believe that monarchies could be more resilient during popular unrest. With the exception of Bahrain to an extent , other monarchies were not seriously affected. Arab Spring has brought to fore the role of monarchy in regime stability also. 2. The Arab Spring has altered the politics in the Arab world by bringing new political forces. The Islamists have emerged as political parties in Egypt and Tunisia. It can concluded that Islamists have been the real gainers of the undergoing socio-political transformation. Tunisia 2. In Tunisia, the formulation of a new constitution is by now under way after the termination of election for the Constituent Assembly in October 2011. Tunisia also witnessed the arrival of the Islamists in the power struggle after decades of alienation by Ben Ali. Tunisia was the first country to observe regime change when the Islamic An-Nahda party won the majority of votes. Hamadi Jebali, Secretary General of An-Nahda, is the new Prime Minister and the Islamic party is presently working in close alliance with Progressive Democratic Party. Though at present their roadmap is devoid of any Islamic rhetoric, it is concentrating more on the model of civic governance. The biggest challenge to Tunisian democracy is likely to be from the Salfists who represent the Islamic fundamentalists. Egypt 2. The Freedom and Justice Party, a political arm of Muslim Brotherhood ,has made a clean sweep in the Parliamentary elections,but the liberals failed to make an impact in the first ever fair election. The departure of the army from the helm of the affairs also brings to an end to the era of ruler-army nexus in Egypt. It is not only Muslim Brotherhood which gained ground, but there other Islamic groups like the Salafists have also risen to a considerable position and are dominating national politics. So far, the Islamists have adopted the strategy of adjustment . The surfacing of several liberal parties like Third Current, Free Egyptian Party, Egyptian Social Democratic Party and the Tagammu Party is a positive sign and signals evolution of a multi-party system which had been absent for decades. Presently Mohamed Morsi has been elected as the new president in June 2012 but he has grabbed unbridled power for himself , which has led to violent outburst from the masses in the country. Libya 2. The departure of Colonel Gaddafi after the involvement of the NATO set the stage for democratic practice in the country. In July, 2012, the election was held for the General National Congress, the first democratic election in Libya in half a century. In contrast to Egypt and Tunisia, in the Libyan election, liberal forces won the elections. The poor show of the Islamists may be accredited to the time-honored Sufi character of Libyan Islam and peoples non- proclivity towards Islamic brand of politics. In addition, during Gaddafis regime, most of Islamist never surfaced and were aslo not organised like Muslim Brotherhood of Egypt or An-Nahda of Tunisia. 3. The democratic process in Libya has been unsuccessful in bringing about the political solidity such as the one in Egypt or Tunisia. The country has turned out to be more delicate and vulnerable. It is also the tribal character of society in Libya that is causing disintegration and disorder of the social fabrics. Libyan society is now both horizontally and vertically disjointed and neo-tribalism has replaced the old national uniqueness and loyalty. Morocco 3. Political concessions approved by King Mohammed VI led to referendum on constitutional reforms. In dissimilarity with protesters in other countries, the Moroccans who initiated the Feb 20 movement for transformation have not voiced for the kings overthrow. Instead, their focal point has been on significant constitutional reforms, which restricts the powers of the king and consolidates the theory of separation of powers. The demonstrations right through the country have been generally peaceful and free of violent expression. 2. Similarly, in the recent elections too, the Islamist won the majority of seats and the King designated Abdelilah Benkirane, an Islamist figure, as Prime Minister. The delicate balance is to be seen between the monarchy and the new Islamists forces, and how they are adjusted in national politics. The King has by now initiated a major political reform capable of empowerment of the people. Syria 4. The Syrian National Council an opposition government formed in exile has not been recognized by the Western Arab nations due to the councils internal divisions. Syria was expelled from the Arab League after it agreed to a peace plan only to step up attacks on protesters. In late 2011 and early 2012, Syria agreed to allow league observers into the country but their presence did nothing to slow the violence. In February 2012, the United Nations General Assembly voted overwhelmingly to approve a resolution condemning President Assads unbridled crackdown on the uprising, but China and Russia, Syrias traditional patrons, blocked all efforts for stronger Security Council action. Iran, Syrias closest ally in the region, also doubled down on its support for Mr. Assad. The conflict is becoming more radicalized, homegrown Muslim jihadists, as well as small groups of fighters from Al Qaeda, have been taking a more prominent role and demanding a say in running the resistance. Recent months h ave witnessed the emergence of larger, more organized and better armed Syrian militant organizations pushing an agenda based on jihad. As the conflict has continued without resolution, the Assad regime has lost many key players, as growing numbers of high-ranking government and military officials have defected. In early August 2012, President Assad fired his prime minister, RiyadFarid Hijab who defected to neighboring Jordan. Days after Mr Hijabs defection, Mr Assad appointed a new prime minister, Wael Nader al-Halqi. 2. Except for Syria, nearly each country affected by the Arab Spring is steadily moving towards some sort of stability. The bloodiest upshot of the Arab Spring has been the incessant war in Syria. Syria is subject to Sunni-Alawite conflict but the Arab Spring has aggravated the crisis. The continuing civil war between Free Syrian Army, the main umbrella group for fighters the Syrian Army has resulted in the death of more than 30,000 people. By September 2012, 2,34,000 Syrian refugees had registered in neighboring countries about half of whom left during August.The end of continuing unrest is nowhere in sight  [1]  . The violent clashes between the regime and the rebels reflect the deep hatred between the Sunni majority and the ruling Alwite minority. Syrian civil war has all the potential to become the scene of an international conflict. So far, no endeavor, including the U.N.-Arab League Mission led by Kofi Annan, could contain this strife. Even the new U.N.-Arab League envoy to Syria, Lakhdar Brahimi confessed that he was not certain that he would be able to end the conflict. Yemen 5. President Saleh signed the GCC sponsored peace process on 23 Nov 11, in which he agreed to step down and set the stage for transfer of power to his vice president.A presidential election was held on 21 Feb 12 in which AbdRabbuh Mansur Al-Hadi (the only candidate) won 99.8% of vote. The new president has been mandated to lead a two year political transition process including a fully inclusive National Dialogue, constitutional electoral reforms ending with full Presidential Parliamentary elections in 2014  [2]  .In addition monetary assistance has been received from World Bank to improve the economic condition. The developments as of now put an end to more than 12 months of violence civil unrest across Yemen. 2. After the Gulf Cooperation Council (GCC) mediated an agreement between the opposition groups and President Abdullah Saleh to leave the Presidentship, Yemen underwent the Presidential election in February 2012 and acting President Abd Rabbuh Mansur al-Hadi won 99.8% of vote and was was elected as the President. But the elections have failed to amalgamate a society that is divided by cultural and tribal loyalties. The Houthis, an insurgent Shiite group, boycotted the elections which reflects the political division in Yemen and leaves enough room for trouble in future. In addition new governance could not rein in the new resurgent groups operating in the name of north-south and sectarian entity. Bahrain 5. Bahrains political arrangement has been unable to keep tempo with demands for representation for the majority Shia population and has almost responded to unrest with an iron fist  [3]  . King Hamad did attempt to provide some amount of economic concession by giving out financial relief to each Bahraini family also initiated judicial, security economic measures. However as per Amnesty report, these reforms appear to have scratched the surface as human rights crisis still continue  [4]  .During the unrest, the old sectarian fault lines between Shiites and Sunnis surfaced. To soothe anti-government protestors, the King dismissed several cabinet ministers and pardoned political prisoners, including the Shia opposition leader Hassan Mushaimaa, who had been in exile in Lebanon. 2. The condition in Bahrain can be seen in similarity to that in Syria where minority Sunnis rule over majority Shiites. It was GCC under the direction of Saudi Arabia which suppressed the revolt in Bahrain. Besides, Bahrain has also turned out to be a battle ground of power between Iran and Saudi Arabia.. 2. The situation at hand appears to be calm but one cannot rule out the likelihood of repetition in the near future because of the unpredictable nature of the region. Furthermore, Iran may endeavor to capitalise on the amplified sectarian tension. Jordan 5. Subsequent to the initial protest the government upturned the rise in fuel prices, but protestors still persisted with their demands for reforms. The King in an attempt to soothe the masses have dismissed three prime ministers from the time when the of Arab Spring started, finally paving way for Fayez al- Tarawneh to head the cabinet to deliver reform agenda  [5]  . Frequent and small scale protests and turmoil still continues in Jordan to keep the system off balance. Saudi Arabia 5. Saudi Arabia is also transiting through low level sectarian conflict. The Shiite minority in the eastern part is making recurrent protests seeking rights and freedom. The king dolled out economic concessions in the form of US $ 130 billion. Subsequently Municipal elections were held in Sep 2011. Reforms were also initiated for womens participation in municipal election in 2015 and for their nomination to Consultative Assembly. Oman 6. Political reforms were announced in reaction to the spate of protests. The most noteworthy reforms include the granting of Consultative Council (Majilis) of Oman ample legislative and audit powers  [6]  . Sultan Qaboos reorganized the Council of Ministers and replaced three top administration officials. A new body was also shaped to manage the countrys economy while Sultan Qaboos promised extra 50,000 jobs  [7]  . The generally affirmative Omani views of Sultan Qaboos, attached with the economic and supplementary political reform measures caused the unrest to subside. Kuwait 5. As a consequence of the protests that demanded political transparency and a clamp down on corruption within the government, the Prime Minister Sheikh Nasser Al Mohammed Al-Ahmed Al-Sabah, resigned on 29 Nov 2011. The government used financial generosity like budgets laden with subsidies and salary increases as well as used oppressive measures in terms of imprisonment which kept the public display of dissent relatively restricted. As Kuwait is a relatively wealthy society where it appears that most citizens do not want to risk their economic wellbeing to bring the downfall of Al Sabah rule  [8]  . 2. From the events as it unfolds in Arab world ,it can be generalized that the historic phenomenon of Arab Spring reflects the following which has wide implications for non- Arab countries also :- (a) The deep structural malisie of Arab society in general. (b) The democratic aspiration of the marginalised section of Arab society, particularly the youth, for a dignified livelihood, a kind of social, economic and political reform that ensures respect for individual identity, dignity and social equity. (c) The inspiration for this movement is deeply Arab-Islamic, rather than tradition of western democracy and therefore eventhough the movement aspires for democratic space but it does not necessarity imagine this democractic space in terms of western democratic values and principles. (d) It is the rainbow of multiple ideological currents vis islamism, nationalism, tribalism, sectarism and localism with each competing with each other for representation in future power-arrangement but also uniting for loosely defined national purpose against external challanges. (e) The movement is likely to have long term implication for the stability and security of the region. (f) The relatively peaceful, leaderless, unorganised but having mass element only reienforces the notion that people remains the motor of wider social and political changes and in the process totally delegitimise the violence-prone politics and discourses of radical/militant Islamic organisations in the name of islamic transformation of Muslim societies.

Critical Thinking Questions Essay

Labeling is a societal way of correcting wrongs within the community by giving names related to the kind of wrong committed. Unfortunately, this does not always correct the deviant’s behavior. The labeled character internalizes the label and gets accustomed to it so as behave as labeled. Once one is called a thief they become one because the society is already aware of their character and they have no fear. They abide to the ascribed label, (Labeling and Crime, 2001). 2). What is the difference between primary and secondary deviance? Primary deviance, according to Edwin Lemert, is the initial act in which a person is identified to have committed a social wrong. When the society tries to correct it by punishing the offender they may or not stop committing this act depending on their perception of the form of correction. Secondary deviance is a kind of deviance that results from the reaction of the offender to the initial societal corrective measures. The offender tends to acquaint themselves with stubbornness against first hand correction to mistakes. As result of being labeled they develop a mind set that they are deviants. The community may try to punish them harder only to realize that they harden and commit the crime more frequently and fully become criminals rather than just deviants, (Crime and Criminology, 2010). 3). What are some examples of master status not in the text? A master status is acquired when one is successfully labeled and develops that particular kind of label making it his/her personality. For example, one may acquire a master status as a prostitute, rapist, gay or homosexual. This may have resulted from an act out of curiosity, desperation or poverty. When it is known to the public they may be labeled. The community does not want to associate with them and they may not get jobs due to the label and they decided to make it their personality for survival. 4). What are traits associated with them? Master status may result to a complete change in the character and personality of an individual. The new state makes them express low self esteem, shyness to the public, wild reactions that make them commit the crime more even after harsh punishment. They may tend to be closely associated with other criminals and may indulge in other related crimes other than the one they were labeled after. This mixed reaction results from victimization of the labeled person by capitalizing on his weakness rather than promoting their strengths. 5). How do those assumed traits affect our perceptions of people with that status? The perception of the community on a person who has acquired master status is transformed towards the description of this person in accordance to their label. They are called thieves other than teacher or father which would still be his other roles in the society. The community perceives them as evil and criminals despite any attempt to act well. 6). What are decision-making types used by rational choice theory? Decision making in rational theory may be in two types. Criminal event decision type and criminal involvement decision type. Criminal involvement type of decision making involve the criminal weighing options on whether participating in a criminal activity would yield more benefits or negatives. A cost benefit analysis is first taken before one commits crime. Crime event type of decision making involve the issues related to a particular crime that respond to the questions where, when, and how. The person must have decided to commit a crime and but they are either held back by either of the above mentioned situations which would promote the success of the crime, (Vito, Maahs, & Holmes, 2007). 7). How do these decisions apply to crime? The rational decision making applies in crime in a number of ways. If a criminal decides that it would be beneficial, advantageous, and lucrative to commit the crime then they would commit it at particular location and specific time as deemed appropriate. When the analysis is completed the criminal does not fear any punishment emanating for the crime they intend to commit. This is applicable in theft and burglary cases. References Crime and Criminology: retrieved in 2010. http://www. sociologyindex. com/crime. htm 2010 Labeling and Crime: edited in March 2001: http://www. le. ac. uk/education/resources/SocSci/labelling. html 09 Vito, GT F. , Maahs, J. R. & Holmes, R. M. (2007). Criminology: theory, research, and policy. Canada: Jones and Bartlett’s publisher.

Mary Shelley’s Frankenstein Essay

   Tragedy followed them: of their four children, only one lived very long. Then in 1822, aged just thirty, Mary’s husband drowned when on a cruise with her husband, his ship having capsized due to a summer storm. Mary’s life was effectively over: even though she lived for another thirty years, her flame never again burned as brightly as it had done in the company of her husband. She pursued to live as a professional writer until her death in 1851. Mary was constantly tormented in life by death and depression, which may have led her to write ‘Frankenstein’. Frankenstein is a book about man’s thirst for knowledge, about the way he is not satisfied unless he knows all the wonders of the world. In many cases, this can lead to the destruction of a man’s soul, as it did to Victor Frankenstein. His quest to learn the secrets of heaven and earth ended in disaster. The monster was the embodiment of evil, bringing death and destruction wherever it laid foot. It brought death to Frankenstein’s family, in a pure quest for revenge. Symbolic of most evil, the monster was manmade. In many ways Mary Shelley’s life can be compared to that of Victor Frankenstein’s. Mary must have felt that wherever she went, evil followed, as those closest to her were snatched away. She portrayed this in Frankenstein as Victor’s family was destroyed by the monster, symbolic of the evil she felt followed her. Mary’s marriage is also represented in Frankenstein. Mary’s marriage to Percy Shelley was the happiest time of her life before he was killed. In the same way, Victor’s marriage to Elizabeth was the only joy he had felt in a long time, when just as suddenly she was murdered by the monster, again symbolising the evil that Mary felt killed her husband. Mary also describes very vividly the pain that Victor felt, leading us to believe that she must have felt the same pain and agony. She reveals this in many situations such as the quotes, ‘the overflowing misery I now felt, and the excess of agitation that I endured rendered me incapable of any exertion’ and, ‘a fiend had snatched from me every chance of future happiness; no creature had ever been so miserable as I was’. The ending of the story was that the death of Victor Frankenstein led the monster to believe that his work was done, and so the monster burned himself to death. The creation had ironically led to the death of the creator. Mary believed that in the event of a man’s demise, the evil inside him dies as well. Frankenstein contains a sad ending, with the destruction of a whole family due to a man’s insatiable quest for knowledge. Mary’s life also consisted of a sad ending, in which she was never as happy as she was when with her husband. She died a lonely death, without her loved ones surrounding her, the same fate shared by Victor Frankenstein. The monster in Frankenstein can be compared to the beast in Lord of the Flies. There are both similarities and differences. In both novels, the idea of a monster/beast represents the pure manifestation of evil. Mutually they lead to the destruction and death of those around them. They are equally spawned from the mind and hands of humans. They both originally spring from the minds of humans. To explain, in Lord of the Flies is the imagination of the boys representing evil, and in Frankenstein it is Victor’s wild imagination and thirst for intellect that leads to the creation of the monster. However, this can also be viewed as a particular dissimilarity. In Frankenstein, the monster is bodily real and physically inflicts harm on Victor’s family. However in Lord of the Flies the beast is just as deadly and evil, but is inside the children’s minds. William Golding was born in Cornwall in 1911. His family was progressive and it was the first source of influence for Golding’s talent. He studied physics and English literature at Marlboro and Oxford University of England. From the first years of his life, he faced the atrocities of war. Fuelled with stories his parents related to him about the first war, he took part in the second great war by joining the British Navy at 1940. After the war, William became a teacher at a boys school in Salisbury. Here, he started to act as a writer. He observed many children in their natural environment, and must have witnessed the negative side of a child’s nature countless number of times. This led him to write Lord Of The Flies which was his first published book. William Golding lived through the two biggest wars in history. During his time in the Navy, he had a constant reminder of the evil and brutality in the hearts of men. He saw countless lives lost around him, some belonging to his friends. It had been revealed to him that the pure evil inside a man can start world wars. This, along with his teaching experiences, was his incentive to write Lord Of The Flies. After surviving the war, he saw during his teaching that children were not bereft of evil either. Combining these two topics he wrote Lord Of The Flies, the conflict between humanity’s innate barbarism and the civilizing influence of reason. In the book, he portrays Jack as the embodiment of evil. It is Jack’s thirst for power that causes the breakdown of civilisation. In this way, Jack can be compared to Hitler. Jack did not want to stop murdering until the whole of Ralph’s group were killed. In the same way, Hitler did not want to stop until the world was rid of Jews. Jack’s tribe wore face paint whereas Hitler and the Nazis wore the sign of the Swastika on their arms. Jack is aided in his quest of destruction by Roger, who can be compared to the Nazis. Roger also represents pure evil and wrongness, moreso even than Jack. He derived sadistic pleasure from torturing pigs and the other boys on the island. Similarly, the Nazis tortured the Jews from which they obtained a sick sense of fulfilment. Roger is one of Jack’s most loyal helpers, and gladly carries out his orders, in the same manner the Nazis obeyed Hitler. The ending of the novel can be interpreted in two different ways. The first would be to interpret that William Golding does actually have a positive outlook on life and believes that the end of life will be a happy one. This can be portrayed as the naval officer who has come to end the evil and escape the boys from the clutches of death, and thus the arrival of authority seems like a happy and ironic ending. However if one digs deeper it is just a continuation from one war to another. Once all the boys get on the Navy cruiser, they’ll most likely just be subjected to more battle and fighting, this time on a worldwide level, due to the war taking place in the outside world. To conclude, the common theme in both novels was the evil in man. Both authors had their own experiences that led them to believe that evil resides amongst all of us. They both took their experiences and portrayed them in novels filled with symbolism. Mary Shelley believed that evil is constantly around us, and that no-one can escape. She believed that man has an evil inside of him so powerful that it can lead to the destruction of his own soul. William Golding’s understanding was that every man is born with evil inside him. He didn’t believe in man’s innocence after the second world war. He found that even children are not innocent, saying, ‘No one is innocent until the society and the way of his life make him to pretend that he’s innocent. But sometimes, when a man is facing a difficult situation then he will probably show his other nature, the dark and guilty nature. ‘ Shyam Kanabar Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Mary Shelley section.

Performance Of Islamic Banking Before The Financial Crisis Finance Essay - Free Essay Example

Sample details Pages: 4 Words: 1063 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? This research is intended to show how the Islamic banking survive from the recent financial crisis by the testing the Islamic banking system before and during the crisis, the worldwide economic crisis and credit crunch has previously yet again point out the weakness of the financial system around the world, there was so many reasons for this crisis point. The need of an alternative system is the main goals for all the world and here Islamic finance has qualified substantial expansion over the decades full amount global assets directed in harmony by the values of Islamic economics are approximate at over US$ 800 billion, through increasing of between 10% and 15% in the previous years. The major roles in this growth are for the Islamic banks and asset funds working in many different financial markets around the world. Islamic banks certainly stand for the mainly unique feature of Islamic finance because Islamic banks are supervised according to entirely assorted moralities such as the prohibitions of interest rate (Riba), Alcohol, Pork products and gambling. The Islamic vision on such features that lead to the crisis is obtainable and explains how Islamic Financial system is able to help out to convey stability to the global finance. The financial crisis affect the economic around the world, the economists discuss the theory of the Islamic finance and the Islamic banking system to be the solution for the current situation. They are many papers discussed the performance of the Islamic banking in general matter so hopefully this research will help to examine the performance before and during the crisis Iqbal, (2001), The Islamic banking system has observer regular continual growth for two main reasons, the first reason is the Islamic system (banking and other financial intermediaries) well know in quite a lot places in the planet include non-Muslim parts of the world. The second reason is challenge were started to change the entire econ omic scheme to base Shariah law values in quite a lot of Muslim countries. The amount of Islamic banks and financial intermediaries is at the present more than one hundred. Also some literature focused on the increasing size of total assets of Islamic banks global are approximate at about $250 billion and are likely to increase by almost 15% per year. (ÃÆ'„Å’ihaacute;k and Hesse, 2008). The financial systems in Western countries more than the last 30 years have move their centre of attention from production to services. The service part now stands for more than 80% of the US economic system to a certain extent. The credit crunch might not occur in the Islamic intermediaries since this Islamic banking system work stand on partnership among the consumers and the banks. Also there is a community obligation surrounded by the Islamic banking system. (Kuran, 2003). The previous and recent theories discussed the performance of Islamic banking system according to their stability, some authors stated that the improved position of Islamic banking system and finance increased rapidly because of entering new instruments in this business. (Sundararajan and Errico, 2002. Ainley et al, 2007. Sole, 2007. Jobst, 2007). The financial turmoil in 2006 to the present activate by a liquidity deficit in the banking system in the world. It is well thought-out by a lot of financial expertises to be the most horrible crisis since 1930s the great depression. The global is in the middle of this crisis which is warning the collapse of the economic, in 2007 the credit crunch in the United States threaten the world raising so many issues regarding to banking system. (Boeri and Luigi, 2008) The current global financial crisis has produced an optimistic understanding that the Islamic banking system (Shariah based system) is a better banking and financial keys in contrast to the conventional banking system. Such comprehension gets keen on explanation the diffe rent capacity that are use to decide the useful ability common advantage and economic solidity obtainable by every of these banking systems. The facts shows that in larger cases the Islamic system (profit or loss sharing) represent the mainly creative publicly positive and lasting in a unstable economic market which the whole world facing now. (Cecchetti, 2008) Wilson, 2009, state that Islamic banks take pleasure in a fitted stabilizer to facilitate them manage with financial crisis as an alternative of giving interest to savers through deal (Mudaraba) its giving them shares in the banks returns. Therefore, if success turns down in an economic crisis or downturn, depositors are given lesser profits although if incomes increase they have the benefit of high profits. This income contribution decrease risk for the Islamic banks and therefore they are a reduced amount of to be expected to turn into bankrupt. On the other hand Islamic banks through the return they make equivalent rese rve to benefit from it through the financial crisis whenever it happen as pay outs so depositors will advantage as of several safeties of their income throughout financial crisis. The recent economic crisis has been complicated and terrible for equity depositors known the drop in stock market values worldwide. depositors in equities monitors by Islamic banks have too experienced or affected by the financial crisis in some ways although a smaller amount than their conventional banks which include fared in particular roughly for the period of the worldwide financial crisis. Islamic financial system considered to be the best ever increasing sections in the industry of financial services and the main reasons are the growing returns for the oils in some Islamic countries, this market is likely to keep growing according to their strategy of risk sharing between the parties of the transactions, Islamic banking system consider to be the most secure rather than conventional system in the western system and it might represent the solution for the recent financial crisis. The prohibitions of some instruments by Islamic banking system such as derivatives and short selling which it believed to be one of the main reasons for the recent crisis so there been arguments that if the world were applying the Islamic methods the crisis might be not happened because the Islamic system is supplementary determined in possessions asset and focus to the market variations of those properties. (Rarick, 2009) Through the real estate market fall and the existing crisis Islamic financing help equality in dealings and as ­serted associations, it carries contribution of risk and return, afterwards, it need transactions to bear fundamentals of materiality principal to a physical economic points, make sure resonance liquidity managing. (Seetharaman, 2008). Don’t waste time! Our writers will create an original "Performance Of Islamic Banking Before The Financial Crisis Finance Essay" essay for you Create order