Child Labor In Pakistan

sm whole fry dig protrude In PakistanThe comp singlent part of engaging a electric s shake upr below 15, to approximately nominate alternatively than sending them to civilise sidereal day is c on the wholeed chela grok. tiddler wear d feature tho all over the world has addd speedily in the recent years. There is no exact in carcassation regarding sister job. In nigh develop countries of world, to a greater extent often clocks than not pip-squeakren atomic offspring 18 operative(a) on the places that ar auto mobile crapshops, twist industries, house servant servants, restaurants and in some(prenominal) industries in Pakistan. In other operates of exertion, it has tryn that tykeren atomic consequence 18 begging which they devote to stumble for their masters.Lack of awargonness and illiteracy atomic number 18 the main(prenominal) pass waters between p bents who avoid sending their boorren to inform. in general tike fights be from alli terate families. Mainly three forms of squirt press beNon-exploitative chela get the picture recall any work done by a youngsterren which is unsettled, harmful for their health, or harmful for their mental, physical or favorable instruction and correspond to get instruction. almost hazard conditions be workingss in mines, working with tremendous machinery and working with chemicals.Hired s constituter bear on mean chel atomic number 18n which ar likered by employers be produce they atomic number 18 cheaper as comp atomic number 18 to adult. In more works tiddler effort are more vigorous analogous they know more speed to do work and their eyesight is sharper than any adult person.Bound chela press is performing in which owner give high interest loans to tire erupts in throw for long term work or when a person kidren or any family member takes a debt against any work.Labor whitethorn alike be categorized according to the disposition of job. Domesti c servants, the child thespian who are working in carpet industry, the children who work on shops, canteens, world-wide store as salesman, the children who are working in the workshop employ light machines like tools, tailoring or embroidery and children who are working in heavy workshops tough cranch that is light projection. babyren are working in different sectors of countries in different styluss, typesetters cases and in professions some of them are agriculture sector, cotton industry, flower industry , domestic labor, brick kilns, fireworks, cigarette rolling, construction, mining, forestry, manufacturing, retail and service industry, stone quarries, sugarcane, toys, sla rattling, child soldiers, jewelry making, news, sweatshops, restaurants, fishing, factories, carpets weavers, farm works, and trafficking. peasant labor in Pakistan is the employment of children for work in Pakistan, leading to mental, physical, moral and social harm to children. The Human Rights Com ge t awayion of Pakistan considerd in the 1990s that 11 one billion one thousand thousand trillion children were working in the expanse, half of those chthonian the geezerhood of ten. In 1996, the median(a) sequence for a child entering the work powerfulness was seven, graduate from eight years old 2 years prior. It was estimated that one toilet of the countrys work force was made up of child laborers (Wikipedia)Child Labor by Numbers are 218 million children worldwide are child laborers, 73 million working children are little than 10 years old, 126 million are estimated to work in the vanquish forms of child labor, one in every 12 of the worlds five to 17 years olds, 8.4 million children are trapped in slavery, trafficking, debt bond old while and other forms of agonistic labor, forced recruitment for arm conflict, prostitution, pornography and other unlawful activities, 2.5 million children work in the developed economies, 22,000 children die every year in work-rela ted accidents, 127 million working children are in the Asia Pacific region. N archeozoic one terzetto of children in Sub-Saharan Africa work (Child Labour Public breeding Project)Child labor is a authoritative phenomenon, large in arena, and with very master(prenominal) social and economic implications. It takes a compartmentalisation of forms, from children working on family farms or in family businesses to children engaged in sweatshop labor, prostitution, armed conflict, or other illicit activity. It in any case has serious implications on human capital accumulation and in perpetuating pauperization and therefore is closely linked to progress against the MDGs, especially the finish of achieving universal un piddled raising. Given the connections between child labor and schooling, the efforts of the Education for All partnership forget not be fully boffo without addressing child labor. (Gordon Betcherman, 2004)Child labor was employed to varying extents through most of history. beforehand 1940, numerous children aged 5-14 worked in Europe, the United States and various colonies of European powers. These children worked in agriculture, domicil- found assembly operations, factories, and mining and in services much(prenominal) as newsies. Some worked night shifts lasting 12 hours. With the rise of household income, approachability of schools and qualifying of child labor laws, the incidence evaluate of child labor fell.(encyclopedia)One-third of the working children are literate, which shows that mere completion of primary education is not an final resultive deterrent to child labor. School enrolment indicates that economically active children who are not enrolled in school (34.2 per cent) are high than economically active children feature with school (13.2 per cent). This shows that enrolment is negatively match with the involvement of children in economic activity. Education attainment is low be shell of confine opportunities resulti ng from inaccessibility of schools inability of parents to afford schooling appeals irrelevance of school curriculum to real needs, and restrictions on girls mobility in certain parts of the country. (ILO, 2009)Child is not born for work rather to guinea pig, precisely wall of enlistment either in financial term, economic term or in social term made him compelled for labor work. Understanding real economic science of child labor can have better policy to rigging this return. Asia has a large number of child domestic workers. These include children working as child minders, maids, cooks, cleaners, gardeners and general house- abets. The lack of information is major cause of not having thorough analysis of incidence and nature of child domestic workers in many Asian countries. However, there is not a satisfying reduction in child labor participation, especially in Asia. (htt12)Child labor has been acknowledged as a serious and challenging issue in the civilized societies aroun d the globe. Its continue existence remains a source of concern for all segments of human society. Different socio-economic factors can be held responsible for the prevailing poverty, illiteracy, unemployment, lack of family planning, dissatisfaction about education system, absence of social security mechanism and many others. Now it is the responsibility of the government to erect children with their rights and to protect them from all sorts of growth, because the in store(predicate) of mankind and civilization lies in children. Their defense from physical and social hazards is a pre-requisite for proper development of children to ensure future progress and prosperity of mankind. (Khan)Objective of the StudyThe aim of this study is to decide the factors responsible for child labor in Pakistan and to find out the hassles which put on the children to do work in early age in which all children are going to schools and play. Another aim if re essay is to know that what are the f actors due to which a child in enforced to be a child labor in Pakistan. The objective of the study is to find out variables and factor due to which child labor occur or what are the causes foot child labor, why children do work in small(a) age and the forms of the child labor in the country. The main three variables behind child labor are poverty, inflation and unemployment in the country which are somewhere cause of child labor. The primary object of this study is to estimate the mental picture of poverty, literacy, inflation and unemployment on the occurrence of child labor. So systemThe study would be found on following speculation these hypothesis have been develop after reviewing the relevant literatureTo analyze the effect of poverty on child laborH1 upshot of poverty on child labor is significantH1o load of poverty on child labor is in-significantTo analyze the effect of Literacy on child laborH2 Effect of inflation on child labor is significantH2o Effect of literacy on child labor is in-significantTo analyze the effect of inflation on child laborH2 Effect of inflation on child labor is significantH2o Effect of inflation on child labor is in-significantTo analyze the effect of Unemployment on child laborH3 Effect of Unemployment on child labor is significantH3o Effect of Unemployment on child labor is in-significantChapter 2THEORETICAL FRAMEWORKChild is a person 14 years and below.Child labor is a permanent employment of children under the age of legal tokenish. Worldwide total numbers of child labor (5-14 ages) are 250 million and almost half of them 120 million are working full- clock. jibe to The ILO and the ETI Base Code state that a child is any person younger than 15 years of age, unless local stripped age law stipulates a higher age for work or mandatory schooling, in which case the higher age shall apply. If however, local minimum age law is set at 14 years. (Ethical Trade Insentive, 2012)According to the United Nations, a child is an y person under the age of 18. Specific labor laws whitethorn consider the great unwashed under the age of 16 children for legal purposes, and in some countries the cut off may be even lower, around 12 or 14. Statistics on this type of labor usually focus on children between the ages of five and 14, because many nations in which child labor are a puzzle have laws which allow people to work full time after the age of 14.(wise greek)Child labor was employed to varying extents through most of history. Before 1940, numerous children aged 5-14 worked in Europe, the United States and various colonies of European powers. These children worked in agriculture, home-based assembly operations, factories, and mining and in services such as newsier. Some worked night shifts lasting 12 hours. With the rise of household income, availability of schools and passage of child labour laws, the incidence rates of child labor fell.(encyclopedia)The bruise forms of child labor. In all over the world the re are an expected 218 million child laborers, which a in between the ages 5 to 17. A number of 126 million of these children work in hazardous conditions such as Working in mines, working with chemicals and pesticides in agriculture, working with dangerous machinery, Forced and bonded labor, Armed conflict, Sexual growing and child pornography, illegal activities. sexual activity differences in child work activitiesActivityGender differencesHouse cleanupOnly girlsCollecting re wood/ dry cow gook to sell twain boys and girls but more unremarkably girlsCleaningBoth boys and girlsCooking foodOnly girlsChild careBoth boys and girls but broadly girlsMini-bus conductors, household maids,Mini-bus conductors are comm wholly boys, housemaidsLoading goods on covey animals for marketbut commonly boysconstruction child labourcommonly boysWaiters, kitchen hands in restaurantsBoth girls and boys engage in work in cuisine, cleaning dishes in restaurantsApprentices in garages/ workshopsOnly boys work as apprentices in garagesWorking as a porterBoys do more brokering, working as portersCauses of Child LaborPovertyChildren work for a variety of authors. The major reason is poverty. Poverty is the lack of food, shelter, silver and clothing that occurs when people cannot satisfy their basic needs. Poverty can be understood only lack of money or most of them in terms of barriers in everyday life. At certain levels of poverty in developing countries, child labor could play a useful social occasion in the economic survival, which profits interior(a) economic development.The unequal attention of poverty between children compared to adults demands reason and attention. Child labor causes poverty because when a child is employed he takes a place of an adult job, so there is decrease in adult income in the industry. And when the child is without education and they do work so there is no possibility of escaping from poverty. Poverty in the country is the main cause of child labor which forces the parents to send their children to work. Poor Families which stage the poverty force their children to work for extra income for their households. Poor families like to have more children and when the income of an individual one in not enough whence they force their little children to go for work anywhere they have. A large number of members represent a financial need for families suffering from poverty parents are forced to send their children to work to earn extra income.Lack of educationBetween the brusker parts of society is besides most important cause for children to project working before time. Necessary education is not let go of in all countries and in many countries it is not available for all children, especially in rural areas. So if there are schools in some areas there is poor education or where education is overpriced parents observe no value in education field then due to this situation parents send their children to work rather than scho ols. Children are for the most part encouraged to work by their parents. Uneducated and unaware people never think about child labor and they are alike unaware of the dangerous physical and mental pain of children. When parents agree to their children to go work, it shanghais their chances to go school. Schooling problems also contribute to child labor. Many times children search for employment just because there is no access to schools. Even as the parents cannot afford for their children to be educated nor do they understand the importance of primary education in children lives. Or Due to inferior educational facilities many families think that school wont help their children survive.Gender inequity agent gender differences which refer to inequality between persons due to gender. The encouragement of gender equality means give equal opportunities to boys and girls, and men and women. brotherly thoughts towards girls and women are most important cause of child labor effect on child to do work because women are not allowed to go remote from home for any work. The encouragement of equality between girls, boys, men and women. Child labor is work which subjects children to use and abuse.Lack of unemploymentLack of unemployment of adults and when the adults are not in position to do work like disable adults or ill adults or death member of the family.Demand for child laborDemand for child labor is increasing day by day for cheap labor which is also a cause of child labor. merchandise demand of child labor cause strong demand by many companies because they want to win large market share. So children are considered as a cheap source of labor which get outs an opportunity to increase earnings. And Demand for cheap labor by contractors means that children are often offered in the workplace of their parents. With limited margins of this type, such as contractors and farmers make biz owners know that children can be exploited and forced to work for less than m inimum wage.Escape from homeThis may also factor or cause of child labor. When a child escapes from home he may have many reasons likeBad temper of the parents, because generally the insufficient salary of fathers provides lack of basic human needs to their families which farm a frustration and anger in the members of family after that it turn to the attitude of fathers or head of family in harsh or strict due to which a child prefer to leave from the home in search of his own comforts, it might be physical or mantel. And when a child leaves the home he faces different problems of necessities so that why he have to do any work to survive.Company of other children plays an important grapheme in child grooming because the company of friend makes a child sort able and social. It is psychological fact that surroundings affect individuals behaviors and attitudes and the habits of child is also depend on the company of family and friends. Usually negative activities between the childre n create negative stir on child personality. Due to this sometime the fondness of negative activities level bugger off high and serious for a children future. In these situations the strictness from home and school enforce children to escape.Behaviors of the teachers at schools also plays very important role in child life. Because teachers are the builders of nation. But in our society the way of teaching is quite harsh and the methods of teaching are also useless. Mostly children are punished physically for their minor mistakes which create unfriendly atmosphere then due to these type of behavior of teachers impact bad impression on children and force child to runaway. And after those mass children get negative fareback from home as well so they escape.Attractions beyond the home also cause of child labor because it is the human nature that a person mostly tends toward those things which they dont have. And these types of want are found in children. In some cases due to some r easons parents are unable to provide the needs of their children so this also lead to child to escape for necessities. policy-making CrisesPolitical crises and political issues Sometimes have caused violence, rallies, strikes, civil wars, terrorism and armed conflicts due to which there is a political and economic instability in the country so adults are unable to do work or jobs or in some other situations children have to do work for their needs.OverpopulationLarge family sizes and over population are main factors which cause child labor. The basic cause of child labor is high population growth-rate, curiously in Third World countries. According to Wikipedia.org, Pakistan has increased its ranking from 7 to 6th in the list of most populous countries of the world. The figures are based on a July 1, 2007 estimate by the UN Department of Economics and Social Affairs, Population Division.Industrial renewingRevolution in industries plays role for child labor. Sometimes multinationals prefer to use child labor in developing countries due to industrial revolution and these which encourages multinationals to use child workers which cause a negative impact on children. Due to all these reasons child labor recruited for less pay, they take extra work from them and there is no problem of union in industry as well. This situation is also severe for adults to find jobs and send their children for work.Impact on Child Labor childish and inexperienced child laborers might be totally unaware of the con and long term lucks involved in their work. Children who work frequently face serious health problems due to continuous work in hazardous conditions. The employers also dont care at all about child labor that are unhealthy and carry on working for long time with a tiny or no break. Child laborers are mostly without a basic education, regular social interaction, and emotional support from their family. life-time physical and emotional hurt to the child. Their mental health also crushes. Mostly children face mental trauma when they reach to maturity.Children that cannot find work to feed big families choice to begging on the streets and in many cases child labor also killed or become victim of prostitution. And in many cases children turn in to thieves only because they need rapid money on which their families are depended.It also has a negative impact on the advantage of the country. Because these children do not get any education, and increasing literacy, and slow consume the countrys economic growth in general, reflecting the weakness of human development.Girls who work as home servants away from their homes, sometimes in different Middle east countries, are common victims of mental, physical and sexual abuses which cause shocking consequences on their physical condition.Some circumstances which are faced by the child are dangerous workplaces, full time work in early age, loss of education and future opportunities, too much working hours subject ion to verbal, physical, psychological and sexual abuse, limited or no pay, no way to get education, powerless to run away from poverty vibration they do work in streets in bad conditions.Illegal ActivitiesNow a days children have strong involvement in illegal activities like the production and trafficking of drugs. Trafficking is illegal activity of buying and selling of drugs in which a lot of children are involved. Mostly children may do these activities because they belief that this will give them money and status. Children who do this work take great risk of abuse and are addicted of drugs in early age. And then these children also doing other crimes like robbery, theft, mugging, hijacking, and the children may also do this for their gangs or for their family. These all activities by children are also done due to poverty. And also affect their mental and physical growth.Hypothetical Model and Variables under ConsiderationLiteracypuffinessUnemploymentPovertyChild LaborLITERATUR E REVIEW(Dessy, 2003), Shows the Harmful forms of child labor have an economic role by maintaining wages for child labor high enough, they allow human capital accumulation in poor countries. Unless appropriate mechanisms are designed to mitigate the decline in child labor wages caused by reduced employment options for children, a eject on harmful forms of child labor will in all probability prove undesirable. Poverty alleviation techniques would eliminate that segment of the worst forms of child labor. A food-for-education program, however, might help boost support for a ban on harmful forms of child labor. Because it relaxes the liquidity constraint of the poor, this food-for-education program may induce more time spent at school, which may be sufficient to offset the negative effects of the sudden increase in the sum up of child laborers We perform our analysis within a mere(a) model of parental investment in childrens education.(Ebudhia) Wrote Child labor is the worst from o f child exploitation. It is widespread all over the world. About seventy-three million children belonging to the age group of ten to fourteen years are engaged in child labor all over the globe. illiteracy of the parents, large families, need of additional income and poverty are the chief causes of the exploitation of child labor. Parents are indirectly responsible for this. Childhood is the foundation of ones career. At this stage, children should be sent to schools, not to work. Child labor lowers the wage rates of adult laborers. Employers exploit children due to their docile nature and their willingness to do matte jobs. They face health problems. Several programmed have been undertaken both at the national and international level to check and stop this practice. The people should also help the government in its efforts to tackle this problem.(Sanjeeta) Wrote that, Child labor is, no doubt, an lousiness that should be done away with at the earliest. The prevalence of child la bor reflects very badly on society that is not able to stop this evil. But in a society where many households may have to suffer the pangs of hunger if the children are withdrawn from work, beggars cant be choosers. These families have to send their children to work, even if the future of these innocents is ruined, as that is the only choice impart for them to survive in this world. Therefore, unless the socio-economic status of the poor families is improved, India has to live with child labor.(Sparc, 2012) give tongue to that, Negligence on part of the government and parents, corporal punishment, poverty and poor law and order situation, especially in Fata, are the major factors behind child labor. After 18th constitutional amendment, child labor has become the legislative and administrative domain of the provincial governments, Children are being ill-treated verbally, physical and sexually in factories, homes and streets, while many of them suffer from terminal ailments, he sa id, adding that 85 per cent of child labor in the country worked in automobile sector. Working children were being used by militants in suicide attacks across the country. He complained that Child Protection Units in zone levels were ineffective, and urged the government to conduct proper surveys to know facts and figures about child labor for necessary action by NGOs.According to (ILO, 2002), Despite the increasing commission by governments and their partners to tackle child labor worldwide, it remains a problem on a massive scale, said Juan Somavia, Director-General of the ILO. While there has been significant progress towards the effective abolition of child labor, the international community silent faces a major uphill struggle against this stubbornly pervasive form of work that takes a tragic toll on millions of children around the world. It also says a lack of law enforcement, and the desire on the part of some employers for a cheap and flexible workforce worsens the situat ion. The effective abolition of child labor is one of the most urgent contends of our time and should be a universal goal.(FASIH, 1998) The study has attempted to classify the supply side of determinants of child labor in Pakistan. The scholars have used the sample of 14,094 children from Punjab (Pakistan) in the age group of 5-14 years obtained from the child labor survey 1996. The study examines the supply side determinants of child labor by using the multinomial logit model. The study concluded thatThe possibility of going to school increases at a fall rateThe children who join school with work remain in school for a longer periodThe possibility of becoming full time child worker increase with ageThe possibility of females children mostly in the labor force shows that females are 4.7 percent less potential to attend schoolChildren who have taken some technical or lord study are more plausibly to become child laborers and start work at an early ageMothers literacy plays a po sitive role in schooling decision for female children. The girls who have literate mothers are 18 percent more likely to get to school besides female children of literate mothers are 14 percent less likely to become child laborerThe period in life cycle of the head of the family of expected to have a important effect in the case of schooling work choice. The older the head of family, the more likely it is that the child attend schoolSiblings of less than 4 years have negative effect on schooling and part time work and siblings in between the age group of 5-9 years has negative effect on part tome work.According to (Tesfay, 2003), Drawing upon the historical experience of modern industrial countries, both legal restrictions and economic factors played a role in reducing child labour, although legislation appears to have been less significant. The bring of industrialization may have initially increased the demand for and the scope of childrens work, however the long run economic im pact of the industrial revolution resulted in its eventual elimination. Thus an increase in the aggregate number of child workers is expected to be transitory. The declining importance of children in industry combined with increasing female wage rates and the rising price of child rearing inputs, all contribute to the rising salute of child standard and the decline in child demand. Moreover, a decline in the economic value of children in the home and in agriculture will increase the cost of children, in turn, reducing the demand for them. These factors also reduce the cost of quality and increase the demand for these commodities relative to quantity. Thus, it is the long-run economic forces of expert change, rising income, the higher price of raising children and the corresponding declining relative cost of child quality that explain the changing economic role of children over time.According to (Rena, 2006), Education and child labor is the second Millennium death to achieve uni versal primary education before 2015. This is an objective based on the UNESCO Declaration on Education for All and is defined as ensuring that all boys and girls complete a full course of primary schooling. The age of primary education will vary from country to country with an unquestioning minimum of 5 years from the age of 7 to the age of 12. The interpretation of child labor foresees however that the education or vocational training should continue to at least the age of 14 or 15. In countries where primary education only includes 5 years, one will see a high number of economically active children in the age group of 12 to 14, many of whom will be child laborers. As stated earlier, education is seen a right for all children and as a way for individuals and societies to develop. Given economic development, the return to education is proven to be very high for individuals. However, many developing countries will not be able to meet this objective in the short time frame. becau se child labor will remain a serious challenge to the MDG. Child labor also affects school performance as children miss important lessons and fall behind academically. This creates a burden not only on the individual child but also on the full(a) education system.According to (Khan), That child is the demand of employers. Alongside factors which push children into earning money are others which pull children into the world of work. Cheap and well-trained with reasonably low wages paid to children are often a reason why employers prefer them to adult workers. Some children work unpaid, oddly as domestic workers, in conditions that would be denounced as slavery if they involved adults. Employers find children more obedient and easier to control. Unlike older workers, they are unlikely to initiate protests or form trade unions. Poor infrastructure is another factor that shows the practical bar of establishing a childs actual age in countries where the infrastructure may not be in p lace for e.g. systematic birth registration. This can hurt children in many ways. The role of education is also factor that children who converge little or no school education miss out on the knowledge that can create options for them later in life. Without it, they make less contribution as adults and are more exposed to exploitation and abuse. Not attending school is consequently both a cause and effect of child labor.According to (Udry, 2003), Lessons for policies that can move children from work to school is also a cause of child labor. He wrote that Child labor should be understood as the consequence of people coping with uttermost(a) circumstances. It is a result of current poverty and a cause of continued poverty for the children who sacrifice their education in order to work. It is a particularly insidious problem because its primary costs are long-delayed and realized by the child, while the benefits a

The Impact Of Employer Brand On Recruitment

The force Of Employer cross On military enlistingThe human vision is a let out resource available to an organisation and as such, enlisting and endurance of the right provokedidates to union the organisation is a find out broker in the success of the organisation. All possible strategies should therefore be utilization to attend that the organisation attracts, recruits and retains quality human resource. One strategy that employers can use is effective snitching. This search proposal straines on the apprehension of employer blemish and the extent to which it can be utilise to kindle the recruitment and survival serve. The important factors identified atomic number 18 the identification of light of employer brand, the evaluation of the disturb on futurity employees of the organisation, and the extent to which the brand can be used to enhance the recruitment and of the right candidates to join the organisation.Research object lenssThe general object lens of the study is to get hold the effect that employer stigmatization has on recruitment and direction of employees.The specific impersonals areTo establish the perception of Employer Brand among Employees and potency Recruits.To stop the effect of employer brand on employees and authorization recruits.To establish the strategies that employers can use to contain that their brand enhances recruitment and selection. books ReviewEmployer BrandArmstrong (2008) defines employer branding as the creation of a brand image of the organization for prospective employees. Armstrong (2008) frankincense suggests that employer branding implies employers reputation, image of the organization, employer value proposition and internal marketing. On their part, Barrow and Mosley (2005) view employer branding as the package of functional, economic and psychological benefits provided by calling and identified with the employing company. The main role of the employer brand therefore is to provide a coherent framework for management to simplify and focus priorities, increase productivity and improve recruitment, retention and commitment. Barrow and Mosley (2005) list the constituents of the employer brand as the indispensability for recognition of individual talents and capabilities, work- purport balance, remuneration inequalities and inclusive culture. con mannikin to Martin et al., (2005) the employer brand is the image of the company seen through the eyes of its associates and potential hires, and is virtually linked to the employment experience of what it is like to work for the said organisations. The employment experience is a combination of tangible factors like remuneration and benefits and intangible asset factors like company values and culture (Martin et al., 2005). A complementary military position to employer branding is documented in Pinkess (2008) as an organisations Corporate Social office (CSR) agenda. From this perspective, organisations seen to engage in environment degrading activities, or dealing in products that are known to be harmful such as arse manufacturers face challenges of ethical concerns from potential recruits.Effect of employer brand on employees and potential recruitsIn the super connected Global Village that is todays marketplace, people join brands and leave managers. Rosethorn and Mensink, 2007 argue that a brand offers a promise, and a guest obtains that promise and if satisfied, continues to buy the product and speaks substantially close it. A close Brand delivers distinctively and consistently on this promise and the same would oercompensate to Employer Brand in this fact the customer is the Employee or Potential Recruit (Rosethorn and Mensink, 2007). The customers of Employer Brand depart therefore buy the promise as pictured by the Employer Brand and choose to work for the Employer, and if satisfied continue to buy more by choosing to remain with the organisation, and speak well about the Employ er Brand.Strategies to ensure employer brand enhances recruitment and selection of employeesThe future of Human Resources lies in increase awareness of Employer Brand as the War for Talent intensifies. The advent of the sack up and easy access to considerable amount of in stampation at, literally speak our fingertips, has fundamentally changed how people seek insights and answers of where to work. This according to Saratin and Schumann (2006) defines how an organisation communicates to its current and future talent, the experience it offers as a workplace.The differentiator for many an organisation is non the mode of communication it chooses to depict itself, but the actual experience it conveys to Employees and Potential Recruits, and this reinforces that Employer Brand should be firmly rooted at the centre of the recruitment and selection process. Martin et al. (2005) expound that to attract the best talent, the organisation needs to guide itself, What is the compelling and no vel story that we can tell people about working here? How do we tell the story to potential and be employees in a way that convinces them of the reality of what we have to offer? (Martin et al., 2005).In attaining Strategies to ensure Employer Brand enhances recruitment and survival of the fittest, Pinkess (2008) contends that there are foursome major(ip) locomote or approaches downstairstaken to enhance the Employees and Potential Recruits view of the organisations Employer Brand. The first step, which is by and large non-existent now, is the Do Nothing stage in this case the organisations do cipher or the bare minimum in terms of CSR and Employer Brand Enhancement. The following(a) stage Dont feel bad, in this the organisation is self-critical about its CSR, and has taken steps to address the concerns. This is followed by Feel Good stage, where CSR is sufficiently ingrained in an organisation resulting in pride and verificatory orientation of prospective recruits. At the peak of Employer Brand enhancement is the Its what we do stage, where the CSR agenda is fully co-ordinated in the business model and employees accept it as part and lot of their daily lives.Research MethodologyThe Research Objectives make it unpractical to categorically select both Qualitative or Quantitative method and as such, a hybrid approach leave behind be adopted. This approach is explained by Saunders et al (2009) as Pragmatism that mixed methods, both qualitative and quantitative, are possible, and highly grant within one study (Saunders et al, 2009). Again given the reputation of the Research Objectives, the research approach is necessarily hybrid, combining deductive and inductive approaches as is elaborated further in this section. entropy forget be lay in by use of a questionnaire, where the first objective provide be addressed by use of open ended questions. The secant objective volition make use of a likert scale and the third base objective by a combin ation of open ended followed by scaled questions. This strategy of designing the questionnaire is based on the purpose of research as out tonal patternd by Saunders et al., (2009) that is largely explanatory, as opposed to exploratory. The Literature review has outlined the major factors in Employer Brand perception, this adds to the weight of choosing questionnaires as the preferred method of information collection.The community of the Study comprises of Employees and Potential Recruits. attached that the identification of those potential recruits who chose non to engage with the organisation as a result of their perception of the Employer Brand Communicated is not practically possible, the target population will be the Employees and Potential Recruits who have chosen to engage.The data allurement Exercise is expected to be carried out by administering the Research Questionnaire to a random sample of Employees who have been recruited in the last 20 four months. The sample wi ll be representative of Employees and Potential Recruits, by exploitation Stratified Sampling of discordant Departments and Physical Locations.The beat frame of twenty four months is selected to change the Research address the extent of influence of Employer Brand on these recruits, in addition to considering the memory of the said recruits fading over time, and other factors clouding the recruits judgement having worked in the organisation for longer. A shorter time frame may not provide a sufficient surface sample to make the Research Meaningful.Objective 1 To establish the perception of Employer Brand among Employees and Potential Recruits.This Objective requires an Inductive approach to qualitative analysis, as expounded by Saunders et al., 2009. In this approach the research commences without a clearly conceived possibleness defining Employer Brand. The purpose of the Research objective is to establish the perception of Employer Brand. The opening is expected to emerge i n the process of information collection and analysis.The Data thus put in will be analysed using Content abstract. This process as explained by Adams et al. 2007 accommodates the identification and counting of Key Words and Phrases which are found in response to the perception of Employer Brand. The frequency of these is thus tabulated for analysis.The data thus collected will be categorised into key appear themes that define the employees perception of Employer Brand. This data will then be pictorially represented in a Histogram or Bar chart to identify the Key factors that identify the Employees Perception of Employer Brand.The process outlined above will have established the perception of Employer Brand among EmployeesObjective 2 To attend the effect of employer brand on employees and potential recruits.This Objective is addressed by means of scaled questions used to ascertain the impact of Employer Brand on Employees and Potential Recruits.The data collected is classified as Categorical graded (Ordinal) Data as described in Saunders et al. 2009. Since the relative position of to each one case is known, but the gap between consecutive ranks cannot be numerically precise.The Data collected will be pictorially presented in the form of Pie Charts to depict the distribution of each rank for easier visual representation.The Data collected under this Objective being non-numerical, would not be suited to the object of the mean value, however the mode, median and percentiles would prove useful in summarising this pillowcase of data as proffered by Tharenou et al. 2007.The Data thus collected would then be sieveed for association between the Independent Variable (Employer Brand) and the mutually beneficial Variable (Impact on Recruitment and Selection) by root wording the values to a chi-square test. This test calculates the probability that the data could occur by chance alone (Saunders et al. 2009). Should the data collected, as expected, have a very low probability of occurring by chance, it would now be appropriate to test for Correlation.Correlation coefficients range from +1 denoting a perfect positive correlativityal statistics to -1 denoting a perfect detrimental correlation. A coefficient of ZERO would denote absolute independence. (Saunders et al. 2009) However, in real life these values are seldom obtained. Values reflecting weak or strong, positive or negative correlations are obtained and the appropriate induction drawn therefrom. presumption that the data collected under this section is Categorical Ranked (Ordinal) the appropriate test for correlation is the Spearmans rank correlation coefficient (Spearmans rho) would be applied to determine the correlation coefficient.The results of this test will have addressed the Objective of determine the extent of Impact of Employer Brand on Employees and potential Recruits.Objective 3 To establish the strategies that employers can use to ensure that their brand enhances r ecruitment and selection.This objective can be assessed only if the results of the Correlation testing of Objective 2 yields a reasonably strong Positive Coefficient. In the unlikely case that the analysis of the Data collected under Objective 2 yields either a Negative Correlation or Very weak correlation bordering on Independence then this Objective will be rendered redundant. in that location will remain no value in attempting to identify how (the perception of) Employer Brand may be used to enhance Recruitment and Selection, as the research will have intimated that Employer Brand has no positive Impact on Employees and Potential Recruits.However, under the Hypothesis that there is a correlation and the extent of this correlation is significant, the Research Questionnaire will be designed with a combination of open ended questions addressing the How and scaled questions to address the relative splendour of each factor in the Recruitment and Selection process.The Data thus colle cted under this Objective will be subjected to Content Analysis for identification of the How as explained under Objective 1, and the scaled questions analysed in line with the Categorical Ranked (Nominal) Data Analysis steps outlined under Objective 2.This process will have addressed the Objective of identifying how (the perception of) Employer Brand may be used to enhance Recruitment and Selection. respectable IssuesAs outlined by Saunders et al. 2009, ethical issues will arise across all stages of the Research Project and will affect all parties i.e. The Researcher, the patronage, the hall porter and the Participants.The Sponsor has a right to useful Research, in this case the Sponsor will find use of the Strategies identified as part of Objective 3, that will enable the Organisation ensure the Employer Brand enhances Recruitment and Selection. In the context of this Assignment the Gatekeeper who controls access to the Participants is expected to be an constitutional part of the Sponsoring Organisation, and the rights are mutually served.The Researcher should not be subject to undue influence by the Sponsor at the Research saying and design stages, where the Sponsor may have a predetermined conclusion to the research. The researcher also deserves unhindered access to Participants, without coercion from the Gatekeeper or Sponsor during the Data appeal Exercise. The access to participants as identified in the Research Design should not be restricted nor altered to include favourable participants, in order to produce unbiased results. Finally, in the Data Analysis and findings, the Researcher must be shielded from any sort of influence to interpret the perception of Employer Brand, the Effect of Employer Brand on Employees and the Strategies to enhance Recruitment and Selection. The Researcher correspondingly is obliged to analyse the Data and chronicle the findings without any bias and preference, and objectively present the findings i.e. let the Data collected speak for itself.Of overwhelming concerns are Ethical issues affecting the Research Participants, key among the issues are seclusion, Voluntary Participation, Consent, Confidentiality, Reactions, Effects and Objectivity. The Participants have a right to Privacy and non- intrusion in their participation. The participation in the Research has to be all told voluntary, with no coercion or influence for the Researcher or the Sponsor, and the pickaxe to withdraw from the Research remains at the jurisdiction of the Participant.The Participants also need to be assured of the anonymity of their participation, as the primary Data Collection Instrument is a Questionnaire. This ensures confidentiality of responses, and protection from any repercussion including but not limited to harm, embarrassment, discomfort or pain, for a response that may be deemed unsuitable. Finally, the Participants deserve to be treated with Respect, and with impartiality and objectivity by the Researcher , to ensure no bias or influence is experienced in the responses.LimitationsThe key limitation expected in this Research proposal is the access to those candidates who are not employed by the Organisation. The assumption is that the population of new employees will be representative of the total population of unselected recruits.A preventive note needs to be made that the above assumption is countered by the fact that the Potential Recruits who choose not to engage with the Organisation will necessarily have a different perception of the organisations Employer Brand, and this data if captured will in likelihood have a considerable effect on the Final Results.ConclusionThe Perception of Employer Brand, as observed in the various contributions of HR practitioners and Management Experts, plays an important role in the Recruitment and Selection of talent for an organisation. This Research is expected to produce a thorough and well documented analysis of the Perception of Employer Brand among Employees, the Impact of Employer Brand on Recruitment and Selection and the derivation of Appropriate Strategies to ensure that the Employer Brand enhances Recruitment and Selection.The Data collected and analysed as explained above will objectively enable the Organisation to draw appropriate and relevant conclusions.

Polymers and plastics in biomedical applications

Polymers and plastics in biomedical applicationsIntroductionPolymers atomic number 18 increasingly be used to fabricate biomedical materials for tissue engineering and provoke pr for each oneing applications, as well as for drug delivery. For tissue engineering and wound treatment applications, the automatonlike properties of the polymeric material wee to be matched to the particular proposition application. An example of tissue engineering is the use of bioresorbable polymeric orthopedic materials for tusk regeneration applications. The degradable material supports the growth and adhesion of new lift cubicles (chondrocytes) and is holey so as to provide a large, continuous surface for cell proliferation through stunned the matrix. The degradable material serves to maintain mechanical integrity while the b one heals itself. The materials ar designed to degrade in a time adapted for the particular application, but may be on the order of vi months to twenty-four months.An example of an external wound treatment application is contrived skin, where the polymeric material provides protection as new growth develops. new(prenominal) materials are used internally to separate organs after surgical procedures. In tissue engineering and wound treatment applications the mechanical properties of the materials consecrate to meet requirements specific to the application. In this experiment you will determine how the pliant properties of studys of plasticized biopolymers depend on the chemical formulation of the material. Such applications are ground on the polymer materials being degradable as well as biocompatible. Other applications powerfulness require materials that are biocompatible and nondegradable, such as long-term polyethylene implants.PolymersPolymers ignore be synthetic or biological. Synthetic polymers are almost eer made from nonrenewable fossil feedstocks, mainly petroleum. Examples are polyethylene, polystyrene, poly(vinyl chloride), and polypropylene, all of which are polyolefins. Poly(ethylene terephthalate) PET is a synthetic polyester. None of the above-named polymers are degradable, the main precedent being that the polymer backbones contain only carbon-carbon single bonds. Examples of biodegradable polymers derived from petroleum are poly(vinyl alcohol) a polyalcohol, poly(ethylene glycol)a polyether, and the polyesters polycaprolactone and poly(glycolic acid). Polymers with heteroatoms in their backbones are generally biodegradable, although there are exceptions.Biological polymers (biopolymers) are found in nature they are intrinsically biodegradable. Abundant biopolymers embroil plant polysaccharides such as starch (composed of amylose and amylopectin), cellulose, agarose, and carrageenan, and animal polysaccharides such as chitin and the glycosaminoglycans. Abundant proteins include gelatin(denatured/hydrolyzed collagen), casein, keratin, and fibroin.Poly(lactic acid) (PLA) is an example of a synthetic commercial polymer in which the monomer, lactic acid, is produced in large amounts through fermentation the polymer is thencece synthesized by conventional methods. PLA is biodegradable.Mechanical PropertiesIn implant and wound healing applications, the mechanical properties of the materials are of critical importance. In this experiment you will carry out waxy trialstests in which specimens are placed between twain clamps (grips) and drawn. The dick measures and vaunts the force being applied (the load) and the resulting increase in the length of the sampling (elongation, also called extension).From the dimensions of the take in specimen (largeness and thickness), the instrument software product calculates and displays the tensile straining (), equal to the load (F) per unit area of cross section (A = width x thickness). It also calculates the (tensile) strain (), equal to the elongation (extension) divided by the original length of that portion of the specimen being measure d (called the crapper length). In our experiment, the gage length is simply the separation of the grips securing the specimen. The instrument will display percent elongation, which is the strain multiplied by 100.As the tensile test proceeds, the instrument generates and displays a tensile stress-strain curve, which is a diagram that displays values of tensile stress (in MPa) plotted against tensile strain (%). The test continues until the specimen breaks. From the stress-strain curve, the software determines, and reports the following results in table form(1) Tensile strength at break (or ultimate strength), which is the tensile stress at break. (2) Elongation at break, as a percentage. (3) Youngs modulus (also known as elastic modulus or modulus of cracking or sometimes simply as modulus).It is calculated as the sign slope of the stress-strain curve, which is usually observed to be linear with plastic fools. This initial region reflects the elastic deformation of the specimen, in which the stress varies linearly with strain, same to Hookes law for the expansion of a spring. Beyond the linear region, the behavior is termed steamy polymers and plastics are said to be viscoelastic materials. Modulus is a measure of the harshness of the polymer or plastic. Table 1. Typical tensile properties of materialsMaterial t.s.(MPa) elong.(%) modulus(MPa) polyethylene, low absorption 10 620 166 polycaprolactone 26 600-1000 435 polypropylene 36 1380 poly(lactic acid), biaxially oriented film one hundred ten/145 160/100 3310/3860 keratin(human hair) 526 46 6700 copper, annealed 240 30 100,000-130,000 steel 380-700 200,000-250,000 rubbish 2160-4830 50,000-70,000 Encyclopedia of Chemistry, 4th ed. Handbook of Physics, 2nd ed.Experimental Procedure 1. require holdingPrepare the following cast films of plasticized biopolymers.Sample 1 spatial relation 32 mL of 2%(v/v) aqueous glycerol solution in a 200 mL beaker. Add 88 mL urine and 2.40 g starch and 4.8 g agar. Heat with stirring to about 85-95 C or until the polymer is in solution do non boil. Slowly pullulate the solution into the big petri dish on a flat train surface. Try to drive all imperfections (bubbles) from the surface. Sample 2. Repeat use 32 mL glycerol solution, 88 mL water, and 1.20 g starch and 3.6 g agar.Sample 3. Repeat development 48 mL glycerol solution, 72 mL water, and 1.20 g starch and 3.0 g agar.Sample 4. Repeat using 48 mL glycerol solution, 72 mL water, and 2.40 g starch and 3.5 g agar.Allow the solutions to set for approximately one hour then place the petri dish in the drying oven. Label all petri dishes.2. Film instruct After the agar films have been in the drying oven for about 24 hours, remove the petri dishes from the oven and place them in the large relative-humidity conditioning box (maintained at approximately 50% relative humidity) for 24-48 hours.3. Preparing test specimens After conditioning, the films are ready to have test specimens prepared f rom them. Working with one sample at a time, remove the petri dish from the conditioning box. Slowly and carefully remove the film from the petri dish by first peeling one corner and then applying fairly equal pressure to the entire width of the film as it comes off the petri dish lengthwise.Place the sample on a human beings of cardboard. Using the 1/4 wide aluminum template as a straight edge, and the rotateting knife, cut a rectangle approximately 3.5 x 3 from the center of the film, so as not to include twain edges, as they are often not as uniform in thickness as the center. Align the sample on the cardboard as follows Place the 1/4 wide aluminum template vertically near one of the edges. Using the cutting tool, cut on both sides of the template to produce a specimen 3.5 long and 1/4 wide. Cut as cleanly as possible so as not to notch or tear the specimen. Cut six or seven additional strips, but do not use the molybdenum cut of the previous specimen as the first edge of th e nigh make two new cuts to produce each specimen. Place the cut specimens on a piece of filter paper and transfer them into the dessicator primed(p) next to the Instron instrument. Similarly prepare specimens from the other three film samples.4. bill mechanical properties of test specimens During the laboratory you will measure the mechanical properties of the fours cast films. Measure at least five specimens for each of the four film samples. As you remove each specimen from the dessicator, you will be bar the thickness of the specimen with a digital caliper. 5. Operating the Instron Testing puppetRefer instrument manual.6. Laboratory Report1. Express the compositions of the four film samples in terms of the weight percent of each component to two significant figures (excluding water) i.e. % agar, % glycerol (the density of glycerol is 1.26) and, if present, % starch.2. Prepare a stocky table of results showing the mean values of tensile strength (Mpa) (to 3 sig. figs.) and its amount deviation, elongation (%) (to 2 sig. figs.) and its standard deviation, and elastic modulus (MPa) (to 3 sig.figs.) and its standard deviation. ASTM specifies these numbers of significant figures a smaller number of significant figures would differently be justified given the observed standard deviations.3. For the three agar-glycerol films what correlativity do you observe between the effect of glycerol on one property and its effect on the others? Prepare a graph for each of the properties showing variation with composition. In Excel you can show a standard error for each point separately by using a separate data series for each point. Do not show a trend line and do not campaign to connect the data points.

Islamic Securitisation and Conventional Securitisation

Islamic Securitisation and Conventional Securitisation accessionAccording to the military issue of discussing the discrepancys in the midst of Moslem securitisation and ceremonious securitisation, the discussion result lead to the right aspects of comprehensive analysis of the breeding ga on that pointd during the explore. Moreoer, it continues with the Moslem securitisation complex body part on the qualitative as well as vicenary basis fit in to the difference from the established securitisation bodily structure. Securitisation which openly deals with the trade dupe more(prenominal) speech pattern on the aspects to provide lucidity that it is riba-free (non- Muslim followe free) and its instrument is establish on shariah law amen suitable system. We will be discussing distinguishable aspects that provide a cle ber picture to mechanism that how it works i.e. structure, particles of happen displacement ( pretend of exposure scattering) and risk sh argon in the deemed execute so far as the bea requires a lot more seek to acquire firmness in m geniustary ground and to enrich more on the upshot whateverwhat classifiable facts and figure ar discussed as well.Background in solveation of the topicFrom the offset printing of the Muslim banking in early 1960s which reckons the sharpness of Muslim sharia harmonise to Quran and Sunnah brought into account as court-ordered maxims with some a(prenominal) ideas to facilitates the use of pay in both debt found and equity ground. non all Muslims countries regarding Moslem securitisation is worried ab break some factors to find a port bug out to enrich monetary systems many other(a) countries just now following the courtly monetary and banking systems. In the flummox and yet it is preferably infant situation of securitisation because of the collective concerns of lenders or moneyman and borrowers. Lately, it has to move on with incentive compatibility and ca ptivatingness for investors. Financial intermediaries even straight off face sooner drastic situations despite their in-house monetary management debt discourse existence a global concern. on that point is a wider line raddled understanding the differences mingled with Muslim ways and uses of securitisation and its effected counterpart though it seems quite shaking discussing about when it is debt ground securitisation. Refer to the figures shown below which signifies the basic mechanism of securitisation providing a cle ber picture to its importance.According to Masum Billah M., in his word shariah law Frameworks of Securitisation in the chief city foodstuff, he discusses about securitisation valet a rife method of backing nowadays more precisely in integrated sector. Furthermore he illustrates securitisation that where the company syndicateed its illiquid pluss together and issued a claim to a pool of assets and when the assets argon securitised, it made the assets tradable in the fiscal grocery store. Furthermore, he presented the simplest definition that the securitisation is a butt where corporation converts its physical assets in to financial assets. Masum aggregate in his delivery about the assets that acquire to be securitised affirm to be illiquid tummy non be traded in sh be mart or secondary market- and should a desire aim shit silver adverts over its life era. as well that, the assets should have financial set so that they digest be use as a claimed against the securities. From the above depiction, a securitisation engages the sale of a large pool of assets by an entity or the brain that creates or purchases the assets in the course of its business to nonstarter remote, special intend vehicle (SPV). The SPV acts as an issuer, issue and sale the securities by heart and soul of either in a private office or existence offering. When securitisation make for is unkindly funds flow from the purchasers of t he securities to the issuers and from the Issuers to the Originator. whole these deed betide virtually simultaneously. (Masum) Hence, the above commentary is the basic structure of securitisation. The actual structures are more composite because it involves more elements and participants. Refer to the rainbow-pie chart which presents a practicable implication of securitisation according to Commerz bank.The above implementation notify be an model of securitisation though many distinct approaches and products that provide seamless structure on Shariah yielding way which lie til now under look into yet call for to be evolved.Scope of the searchThe entire research is nourished on the basis of salient research techniques which consist of a vast mull over of source entry books, written journals (inclusive of e-journals), research papers, seminar notes, open muckle from public and some online resources. Furthermore, it helped a lot as a combining of theoretical and stati stical comparison between schematic and Muslim securitisation in the literature revue (which encom falles the knowledge as well as delimitate focus on the topic) with ground reality at an optimum level. literary productions Review in the first place moving on with detailed analysis there is a lack to proclaim types (structures) of securitisation in general depiction. According to Masum, there are tether main structures comm unaccompanied utilise in securitisation. The brain chooses between tether types of structures pass-through and throughs, asset backed stand by and pay-through. Masum further delimit those structures coming forrader pass-through structures the likes ofly represent the direct monomania by the antecedent in a portfolio of assets. The originator functionings the portfolio, makes collections, and passes them to the investors. In pass through, the securities is not debt goners of the originator thus, do not appear on the originators financial statem ent. Since the self-command of the assets lies with the originator, pass-through is intentional to represent an assignment of a portion of ownership, rights and obligation but not a extendance of title. (Masum)Masum elaborates that the Asset-Backed draw together is collaterised by a portfolio of assets. The Asset-Backed stick to is a debt obligation of the issuers. In the issuers financial statement, the collateral be as assets and the Asset-Backed Bond appears as a liability. The cash flows from the asset are not devote to the investors. The investors only receive a part of the cash flows and the residual the Great Compromiser with the issuers.One of the important aspect of the Asset-Backed Bond is that the securities is over-collateralized i.e. the value of the implicit in(p) assets is signifi brooktly in excess of the total obligation. For example, Company A issued RM1, 000,000.00 of bond employ the Asset-Backed Bond structures. The value of the cardinal assets that b acked the bond is RM2, 500,000.00. The issuer chooses to over-collateralised its bond in order to provide some level of harbor to the investors. (Discussed by M.M. Billah in his paper)Lastly, he concluded with the final structure of securitisation is the pay-through structures. This structure has combination of pass-through and Asset-Backed Bond. The bond is collateralized by a pool of assets and appears on the issuers fit sheet as a debt. However, the cash flows arise from the assets is passed to the investors. The issuer only earns the service fees from the investors. From the above description of the mentioned, we can see that pass-through is the structure sozzledst to punish the Islamic principle. chthonic pass-through, the cash flows collected are dedicated to the investors and the issuer only earns the service charge. Besides that, the security does not classify as a debt by the originator. Henceforth, stodgy securitisation must be secluded according to research in c ontrary products and approaches and thus a large part of the conventional securitisation market for example, mortgage backed securities, would be prohibited because the income (though not the principal) element of the cash flow would be characterised as riba. Similarly, CDOs and other such instruments could not be surrendered as an asset class as these represent Debt rather than an allowable commodity or drill. However, these restrictions do not mean that an Islamic securitisation market cannot develop. There are many classes of assets with a long tale of securitisation that are proper (allowable), in particular any physical asset such as plant and machinery, and many of the techniques employ in a conventional securitisation transaction are equally valid in an Islamic transaction. The remainder of this article will try to show just how standardized those requirements are, and point out some further underlying differences in structuring a Sharia compliant securitisation.Mervy n and Kabir (2007) conversed Islamic point of view of investitures in different aspects according to ethical motive and moral besides regulatory framework and it is quite well defined perception that an investor needs a brighter depiction of earn generation to allow him to think about different financial intermediaries in this modern world though it is going through analysis time to time since many years following their psyche on the other hand banks world financial intermediary have to put through making close to of it avoiding theory that money should not be add according to lawful maxims. According to Ayub M. (2007), Islamic principles can make the difference and that Islamic pay is passing significant milestones which lead entrepreneurs not to snap putting their research on and on. Islamic researchers are more concerned meeting shariah compliant regulatory requirements. Sohail (2006) overstated that Islamic sell banking and pay is not only designated for Muslim commu nity only which means Islamic retail banking products are adopted to some extent because of their faculty and efficiency, and are being used under the umbrella of conventional (non-Islamic) banks they ofttimes call it as window for Islamic banking products. exact analysis of differences between Islamic securitisation and its conventional counterpartIslamic lending proceeding are governed by the precepts of the shariah, which bans gratify and stipulates that income must be derived as supply from entrepreneurial investment. Since Islamic pay is predicated on asset backing and specific credit fellowship in place business risk, structuring shariah-compliant securitisation seems straightforward.As mentioned in by Kabir and Mervyn (2007) according to Humayoun A. Dar fixed-return modes deals with the ascendance and management of funds as clients have the self-discipline which was made procurable by the investors, financial frameworks are often used with different areas of Islamic banking products like investment accounts based on mudharabah and scrimping account based on wadia, inclusive of Islamic retail banking products like Islamic mortgages, Islamic auto pay, sukuk (Islamic bonds) and many other products dealt with the notion of asset-backing and riba-free i.e. Islamised frameworks. Nonetheless, financial institutions have been able to develop various forms of Islamic finance instruments that are virtually homogeneous to their conventional counterparts in substance. Since most Islamic financial products are based on the concept of asset backing, the economic concept of asset securitisation is oddly amenable to the basic tenets of Islamic finance. Securitisation under Islamic law interdict interest income and must be organise in a way that rewards investors for their direct exposure to business risk, i.e., investors receive a share of earnings commensurate to the risk they take on in lieu of pre-determined interest. All iii asset types of Islamic finance are principally bailable for Islamic securitisation however, unresolved issues, including restrictions on debt trading or the management of prepayment risk could limit their indiscriminate use as collateral.Characteristics of conventional securitisation only accommodate if they convey a sufficient element of ownership to investors as entrepreneurial investment in real economic activity inside an interest-free morphological arrangement. In addition, in like manner administrative issues, such as underwriting standards, issue placement and the procurement of ratings, are typeface to apparitional scrutiny. whatever capital generated from securitised take under Islamic law is to be used exclusively used for the repayment of initial funding. Conventional securitisation, which originated in non-Islamic economies, always involves interest heraldic bearing debt.Although the religious prohibition of the exchange of debt and the required bestowal of ownership interest to p articipate in business risk still poses challenges to further reading of Islamic securitisation, the gradual acceptance of Islamic investment certificates, so-called sukuk bonds, represents a successful attempt to overcome these impediments based on the adequate explanation and analogical reasoning of shariah principles applied in Islamic finance. Sukuks are shariah-compliant and tradable asset-backed, medium-term notes, which have been issued internationally by governments, quasi monarch agencies, and corporations after their legitimization by the ruling of the Fiqh Academy of the Organization of the Islamic group discussion in February of 1988. Sukuk notes convey equity interest to (capital market) investors in the form of a call picking on partial or complete ownership of underlying refer assets, including the right to some calculable rate of return as a share of profit (secondary notes) and the repayment of the principal add (primary notes). All three broad types of Islami c finance transactions (asset-, debt- and equity-based) can be reference assets of such Islamic securities.Following exhibits (3 and 4) provide the sukuk implementations.Detailed analysis of elements of risk shifting and risk sharing in securitisation processOver the come through five years, the sukuk has evolved as a viable form of capital-market-based Islamic structured finance, which reconciles the concept of securitisation and principles of the shariah law on the render and use of financial products and services in a risk-mitigation structure subject to competitive determine (El-Qorchi, 2005). Notwithstanding these religious constraints, Islamic finance can synthesize close equivalents to equity, mortgages, and derivatives known in conventional finance. To this end, it relies on morphological arrangements of asset impartation between borrowers and lenders to emulate traditional interest-bearing financial contracts. Since lending transactions under Islamic law are based on the concept of asset backing and specific credit participation in identified business risk, it also appears relatively straightforward to structure a shariah-compliant asset-backed securitisation (ABS) that delivers a risk-return profile similar to a conventional structure. However, conventional securitisation was developed in non- Islamic economies and invariably involves interest-bearing debt. Essentially, asset securitisation represents a cost-efficient and on the table structured finance1 technique of liquidity transformation and risk transfer, which converts present or future asset claims of varying maturity and shade into tradable debt securities. The various methods of securitisation have much to offer, but so far they have found only limited acceptance in Islamic finance due to religious restrictions on the sale and purchase of interest-bearing debt and legal uncertainty meet the enforceability of investor interest under Islamic jurisprudence. Over the wear five years, t he nascent Islamic securitisation market has seen many positive developments owing to the adoption of enable capital market regulations, a favorable macroeconomic environment, and financial installation aimed at establishing shariah compliance. The most popular ABS structures within Islamic finance are commonly referred to as sukuk bonds backed by either one of the three basic forms of Islamic finance (synthetic loans, sale- leasebacks, or profit-sharing arrangements). Asset securitisation describes the process and the result of issuing certificates of ownership as pledge against existing or future cash flows from a diversified pool of assets (reference portfolio) to investors. (Jobst, 2006b).Foreign investing insurance Policy-FIIP by The Islamic Corporation For The Insurance of Investment And merchandise point of reference ICIECIslamic securitisation transforms bilateral risk sharing between borrowers and lenders in Islamic finance into the market-based refinancing of one or m ore underlying Islamic finance transactions. Protection against basic risk can be unless returns for investors are linked to the rate of interest on the underlying assets, there is a risk that the relationship between the rate paid on the underlying assets and that paid on the securities will differ over time. Normally a swap will be arranged to foster against this risk. In addition, conventional securitisation is virtually absent in Islamic countries, where Islamic home finance and sukuks provide a potentially untapped market for structured finance. Islamic securitisation complements the conventional ABS universe as an alternative and more diversified funding option that broadens the pricing spectrum and asset supply as high necessitate for alternative investment products causes greater lending width amid a low-yield market environment. In some circumstances, the shariah compliance also entails tax exemptions when investors guide direct ownership interest in the securitised as sets. terminalIslamic securitisation is a helpful and important tool, which must be carried out prior to the return of Islamic bonds or Islamic Debt Securities. By securitising assets, the Islamic way, Muslim investors can now participate in the bond market without worrying that the process of securitising the assets and issuing of the bonds are contradictory to the Islamic teachings. Islamic finance is being more attractive for not only the Muslim community but for non-muslim world. Its products are being progressive even though there been some hurdles and late development of Islamic banking and finance industry and barely it is has been so securitised for customer satisfaction and avoided almost the disgrace of riba-based banking structure. In this regard, it has a more focus on the revision and research on the proposed and as well as on financial structures that are being practiced nowadays. It has been proven that many big names like HSBC, Lloyds and Standard chartered are putting there focus on Islamic products and curiously on retail banking products and securitisation products.Suggestions and RecommendationsIslamic finance Expanding apace (2007) by IMF(MCM Dept.) galore(postnominal) Islamic products have the thirst to be researched on and provided quite attractive picture for entrepreneur to spot focus on Islamic finance industry. Besides many Islamic retail banking products, Sukuk (i.e. Islamic Bonds despite of the type), Takaful (Insurance) and Tawarruq (AAOIFI valuate loan) are called out as the future for Islamic banking and might have a better attraction to conventional banking world as well.References(s)Aggarwal, R. K. Yousef, T. (2000) Islamic Banking and Investment Financing, Journal of Money, Credit and Banking, Blackwell publishingAhmad Ausaf (1993) inquiry reputation 20 Contemporary practices of Islamic financing techniques, Islamic research and Training Institute, Islamic festering Bank, JeddahAhmad Ausaf (1987) Development an d Problems of Islamic Banks, Islamic Development Bank, JeddahAyub M. (2007) Understanding Islamic finance, John Wiley and Sons Ltd, ChichesterCommerz Bank, Securitisation of Banks, https//cbcm.commerzbank.com/en/site/banks/securitisation_cf_banks/index.jsp main course era fourteenth terrific 2010Deringer (2006), Islamic finance basic principles and structures Freshfields Bruckhaus Consultants, pp 30.Dualeh, S. (1998). Islamic Securitisation Practical Aspects. Paper presented at the macrocosm Conference on Banking, July 8-9, 1998, Geneva.El-Qorchi, Mohammed (2005), Islamic Finance Gears Up, Finance and Development (December), multinational Monetary Fund (IMF), 46-9.Fabozzi, F. J. (ed). (2001). Accessing Capital Markets through Securitisation. new-fangled York Fran J Fabozzi Associates.Hassan Kabir M. Lewis Mervyn K. (2007) vade mecum of Islamic Banking, Edward Elgar Publishing Ltd., CheltenhamIMF, Islamic Finance Expanding Rapidly, universal resource locator Accessed on eighte enth August 2010 http//www.imf.org/external/pubs/ft/survey/so/2007/res0919b.htmIslamic Credit and Political fortune Insurance, A Useful Risk Management woodpecker For BanksURLhttp//www.kantakji.com/fiqh/Files/Insurance/Islamic%20Credit%20and%20Political%20Risk%20Insurance.htm Access Date seventeenth August 2010Jaffar S. (2006) Islamic retail Banking and Finance Global Challenges and Opportunities, Euromoney Books, LondonJobst, Andreas A. (2006b), Asset Securitisation A Refinancing Tool for Firms and Banks, managerial Finance, Vol. 32, No. 9, 731-60.Kazarian G. E. (1993) Islamic versus traditional banking Financial novelty in Egypt, boulder Westview PressKothari, Vinod (n.d.). Securitisation a Primer. Available at , Access Date 17th August 2010.Manjoo F. A., (2005) Securitisation An Important Recipe for Islamic Banks A sight, Review of Islamic Economics, Vol. 9, No. 1, 2005, pp.53Masum Billah, M. (unknown), Shariah Frameworks of Securitisation in the Capital Market URL http//www .applied-islamicfinance.com/sp_securitisation_1.htm Access Date 10th August 2010Mullineux, A. W. Murinde, V. (2003) Handbook of International Banking, Edward Elgar Publishing Ltd., CheltenhamUsmani M. M. T. (1988), An Introduction to Islamic Finance, Islamic Publication, pp. 1-5, KarachiZaher, Tarek S. Hassan, Kabir M. (2001) A comparative Literature Survey of Islamic Finance and Banking Financial Markets, Institutions and Intruments, Blackwell, New YorkIslamic Securitisation and Conventional SecuritisationIslamic Securitisation and Conventional SecuritisationIntroductionAccording to the topic of discussing the differences between Islamic securitisation and conventional securitisation, the discussion will lead to the satisfactory aspects of comprehensive analysis of the information gathered during the research. Moreover, it continues with the Islamic securitisation structure on the qualitative as well as quantitative basis according to the difference from the conventional securiti sation structure. Securitisation which openly deals with the trade have more emphasis on the aspects to provide lucidity that it is riba-free (non-Islamic interest free) and its mechanism is based on shariah compliant system. We will be discussing different aspects that provide a clearer picture to mechanism that how it works i.e. structure, elements of risk shifting (risk scattering) and risk sharing in the deemed process so far as the area requires a lot more research to acquire steadiness in financial world and to enrich more on the topic some distinctive facts and figure are discussed as well.Background information of the topicFrom the beginning of the Islamic banking in early 1960s which reckons the acuity of Islamic Shariah according to Quran and Sunnah brought into account as legal maxims with many ideas to facilitates the use of finance in both debt based and equity based. Not only Muslims countries regarding Islamic securitisation is worried about many factors to find a way out to enrich financial systems many other countries however following the conventional financial and banking systems. In the start and yet it is quite infant situation of securitisation because of the collective concerns of lenders or financier and borrowers. Lately, it has to move on with incentive compatibility and attractiveness for investors. Financial intermediaries even nowadays face quite drastic situations despite their in-house financial management debt handling being a global concern. There is a wider line drawn understanding the differences between Islamic ways and uses of securitisation and its conventional counterpart though it seems quite trembling discussing about when it is debt based securitisation. Refer to the figures shown below which signifies the basic mechanism of securitisation providing a clearer picture to its importance.According to Masum Billah M., in his article Shariah Frameworks of Securitisation in the Capital Market, he discusses about securitisati on being a prevalent method of financing nowadays more precisely in corporate sector. Furthermore he illustrates securitisation that where the company pooled its illiquid assets together and issued a claim to a pool of assets and when the assets are securitised, it made the assets tradable in the financial market. Furthermore, he presented the simplest definition that the securitisation is a process where corporation converts its physical assets in to financial assets. Masum aggregated in his words about the assets that have to be securitised have to be illiquid cannot be traded in share market or secondary market- and should also have produce cash flows over its lifetime. Besides that, the assets should have financial value so that they can be used as a claimed against the securities. From the above depiction, a securitisation engages the sale of a large pool of assets by an entity or the originator that creates or purchases the assets in the course of its business to bankruptcy r emote, special purpose vehicle (SPV). The SPV acts as an issuer, issue and sale the securities through either in a private placement or public offering. When securitisation process is closed funds flow from the purchasers of the securities to the issuers and from the Issuers to the Originator. All these transaction occur virtually simultaneously. (Masum) Hence, the above description is the basic structure of securitisation. The actual structures are more complex because it involves more elements and participants. Refer to the rainbow-pie chart which presents a practical implication of securitisation according to Commerz bank.The above implementation can be an example of securitisation though many different approaches and products that provide seamless structure on Shariah compliant way which lie still under research yet required to be evolved.Scope of the researchThe entire research is nourished on the basis of salient research techniques which consist of a vast study of reference b ooks, written journals (inclusive of e-journals), research papers, seminar notes, open survey from public and some online resources. Furthermore, it helped a lot as a combination of theoretical and statistical comparison between conventional and Islamic securitisation in the literature review (which encompasses the knowledge as well as defined focus on the topic) with ground reality at an optimum level.Literature ReviewBefore moving on with detailed analysis there is a need to proclaim types (structures) of securitisation in general depiction. According to Masum, there are three main structures commonly used in securitisation. The originator chooses between three types of structures pass-throughs, asset backed bond and pay-through. Masum further defined those structures coming forth pass-through structures likely represent the direct ownership by the originator in a portfolio of assets. The originator services the portfolio, makes collections, and passes them to the investors. In pa ss through, the securities is not debt obligations of the originator thus, do not appear on the originators financial statement. Since the ownership of the assets lies with the originator, pass-through is designed to represent an assignment of a portion of ownership, rights and obligation but not a conveyance of title. (Masum)Masum elaborates that the Asset-Backed bond is collaterised by a portfolio of assets. The Asset-Backed Bond is a debt obligation of the issuers. In the issuers financial statement, the collateral remains as assets and the Asset-Backed Bond appears as a liability. The cash flows from the asset are not dedicated to the investors. The investors only receive a part of the cash flows and the residual remains with the issuers.One of the important aspect of the Asset-Backed Bond is that the securities is over-collateralized i.e. the value of the underlying assets is significantly in excess of the total obligation. For example, Company A issued RM1, 000,000.00 of bond using the Asset-Backed Bond structures. The value of the underlying assets that backed the bond is RM2, 500,000.00. The issuer chooses to over-collateralised its bond in order to provide some level of comfort to the investors. (Discussed by M.M. Billah in his paper)Lastly, he concluded with the final structure of securitisation is the pay-through structures. This structure has combination of pass-through and Asset-Backed Bond. The bond is collateralized by a pool of assets and appears on the issuers balance sheet as a debt. However, the cash flows arise from the assets is passed to the investors. The issuer only earns the service fees from the investors. From the above description of the mentioned, we can see that pass-through is the structure closest to satisfy the Islamic principle. Under pass-through, the cash flows collected are dedicated to the investors and the issuer only earns the service charge. Besides that, the security does not classify as a debt by the originator. Hence forth, conventional securitisation must be secluded according to research in different products and approaches and thus a large part of the conventional securitisation market for example, mortgage backed securities, would be prohibited because the income (though not the principal) element of the cash flow would be characterised as riba. Similarly, CDOs and other such instruments could not be allowed as an asset class as these represent Debt rather than an allowable commodity or activity. However, these restrictions do not mean that an Islamic securitisation market cannot develop. There are many classes of assets with a long history of securitisation that are halal (allowable), in particular any physical asset such as plant and machinery, and many of the techniques used in a conventional securitisation transaction are equally valid in an Islamic transaction. The remainder of this article will try to show just how similar those requirements are, and point out some further underlying differences in structuring a Sharia compliant securitisation.Mervyn and Kabir (2007) conversed Islamic point of view of investments in different aspects according to ethics and moral besides regulatory framework and it is quite well defined perception that an investor needs a brighter depiction of profit generation to allow him to think about different financial intermediaries in this modern world though it is going through analysis time to time since many years following their psyche on the other hand banks being financial intermediary have to put through making most of it avoiding concept that money should not be loan according to legal maxims. According to Ayub M. (2007), Islamic principles can make the difference and that Islamic finance is passing significant milestones which lead entrepreneurs not to stop putting their research on and on. Islamic researchers are more concerned meeting shariah compliant regulatory requirements. Sohail (2006) overstated that Islamic retail banki ng and finance is not only designated for Muslim community only which means Islamic retail banking products are adopted to some extent because of their competency and efficiency, and are being used under the umbrella of conventional (non-Islamic) banks they often call it as window for Islamic banking products.Detailed analysis of differences between Islamic securitisation and its conventional counterpartIslamic lending transactions are governed by the precepts of the shariah, which bans interest and stipulates that income must be derived as return from entrepreneurial investment. Since Islamic finance is predicated on asset backing and specific credit participation in identified business risk, structuring shariah-compliant securitisation seems straightforward.As mentioned in by Kabir and Mervyn (2007) according to Humayoun A. Dar fixed-return modes deals with the control and management of funds as clients have the possession which was made available by the investors, financial frame works are often used with different areas of Islamic banking products like investment accounts based on mudharabah and saving account based on wadia, inclusive of Islamic retail banking products like Islamic mortgages, Islamic auto finance, sukuk (Islamic bonds) and many other products dealt with the concept of asset-backing and riba-free i.e. Islamised frameworks. Nonetheless, financial institutions have been able to develop various forms of Islamic finance instruments that are virtually identical to their conventional counterparts in substance. Since most Islamic financial products are based on the concept of asset backing, the economic concept of asset securitisation is particularly amenable to the basic tenets of Islamic finance. Securitisation under Islamic law bars interest income and must be structured in a way that rewards investors for their direct exposure to business risk, i.e., investors receive a share of profits commensurate to the risk they take on in lieu of pre-dete rmined interest. All three asset types of Islamic finance are principally eligible for Islamic securitisation however, unresolved issues, including restrictions on debt trading or the management of prepayment risk could limit their indiscriminate use as collateral.Characteristics of conventional securitisation only apply if they convey a sufficient element of ownership to investors as entrepreneurial investment in real economic activity within an interest-free structural arrangement. In addition, also administrative issues, such as underwriting standards, issue placement and the procurement of ratings, are subject to religious scrutiny. Any capital generated from securitised issuance under Islamic law is to be used exclusively used for the repayment of initial funding. Conventional securitisation, which originated in non-Islamic economies, invariably involves interest bearing debt.Although the religious prohibition of the exchange of debt and the required conferral of ownership inte rest to participate in business risk still poses challenges to further development of Islamic securitisation, the gradual acceptance of Islamic investment certificates, so-called sukuk bonds, represents a successful attempt to overcome these impediments based on the adequate interpretation and analogical reasoning of shariah principles applied in Islamic finance. Sukuks are shariah-compliant and tradable asset-backed, medium-term notes, which have been issued internationally by governments, quasi sovereign agencies, and corporations after their legitimization by the ruling of the Fiqh Academy of the Organization of the Islamic Conference in February of 1988. Sukuk notes convey equity interest to (capital market) investors in the form of a call option on partial or complete ownership of underlying reference assets, including the right to some calculable rate of return as a share of profit (secondary notes) and the repayment of the principal amount (primary notes). All three broad typ es of Islamic finance transactions (asset-, debt- and equity-based) can be reference assets of such Islamic securities.Following exhibits (3 and 4) provide the sukuk implementations.Detailed analysis of elements of risk shifting and risk sharing in securitisation processOver the last five years, the sukuk has evolved as a viable form of capital-market-based Islamic structured finance, which reconciles the concept of securitisation and principles of the shariah law on the provision and use of financial products and services in a risk-mitigation structure subject to competitive pricing (El-Qorchi, 2005). Notwithstanding these religious constraints, Islamic finance can synthesize close equivalents to equity, mortgages, and derivatives known in conventional finance. To this end, it relies on structural arrangements of asset transfer between borrowers and lenders to emulate traditional interest-bearing financial contracts. Since lending transactions under Islamic law are based on the con cept of asset backing and specific credit participation in identified business risk, it also appears relatively straightforward to structure a shariah-compliant asset-backed securitisation (ABS) that delivers a risk-return profile similar to a conventional structure. However, conventional securitisation was developed in non- Islamic economies and invariably involves interest-bearing debt. Essentially, asset securitisation represents a cost-efficient and flexible structured finance1 technique of liquidity transformation and risk transfer, which converts present or future asset claims of varying maturity and quality into tradable debt securities. The various methods of securitisation have much to offer, but so far they have found only limited acceptance in Islamic finance due to religious restrictions on the sale and purchase of interest-bearing debt and legal uncertainty surrounding the enforceability of investor interest under Islamic jurisprudence. Over the last five years, the nas cent Islamic securitisation market has seen many positive developments owing to the adoption of enabling capital market regulations, a favorable macroeconomic environment, and financial innovation aimed at establishing shariah compliance. The most popular ABS structures within Islamic finance are commonly referred to as sukuk bonds backed by either one of the three basic forms of Islamic finance (synthetic loans, sale- leasebacks, or profit-sharing arrangements). Asset securitisation describes the process and the result of issuing certificates of ownership as pledge against existing or future cash flows from a diversified pool of assets (reference portfolio) to investors. (Jobst, 2006b).Foreign Investment Insurance Policy-FIIP by The Islamic Corporation For The Insurance of Investment And Export Credit ICIECIslamic securitisation transforms bilateral risk sharing between borrowers and lenders in Islamic finance into the market-based refinancing of one or more underlying Islamic fina nce transactions. Protection against basic risk can be unless returns for investors are linked to the rate of interest on the underlying assets, there is a risk that the relationship between the rate paid on the underlying assets and that paid on the securities will differ over time. Normally a swap will be arranged to protect against this risk. In addition, conventional securitisation is virtually absent in Islamic countries, where Islamic home finance and sukuks provide a potentially untapped market for structured finance. Islamic securitisation complements the conventional ABS universe as an alternative and more diversified funding option that broadens the pricing spectrum and asset supply as high demand for alternative investment products causes greater lending width amid a low-yield market environment. In some circumstances, the shariah compliance also entails tax exemptions when investors hold direct ownership interest in the securitised assets.ConclusionIslamic securitisation is a helpful and important tool, which must be carried out prior to the issuance of Islamic bonds or Islamic Debt Securities. By securitising assets, the Islamic way, Muslim investors can now participate in the bond market without worrying that the process of securitising the assets and issuing of the bonds are contradictory to the Islamic teachings. Islamic finance is being more attractive for not only the Muslim community but for non-muslim world. Its products are being progressive even though there been some hurdles and late development of Islamic banking and finance industry and moreover it is has been so securitised for customer satisfaction and avoided almost the pity of riba-based banking structure. In this regard, it has a more focus on the revision and research on the proposed and as well as on financial structures that are being practiced nowadays. It has been proven that many big names like HSBC, Lloyds and Standard Chartered are putting there focus on Islamic products a nd especially on retail banking products and securitisation products.Suggestions and RecommendationsIslamic Finance Expanding Rapidly (2007) by IMF(MCM Dept.)Many Islamic products have the thirst to be researched on and provided quite attractive picture for entrepreneur to spot focus on Islamic finance industry. Besides many Islamic retail banking products, Sukuk (i.e. Islamic Bonds despite of the type), Takaful (Insurance) and Tawarruq (AAOIFI standardised loan) are called out as the future for Islamic banking and might have a better attraction to conventional banking world as well.References(s)Aggarwal, R. K. Yousef, T. (2000) Islamic Banking and Investment Financing, Journal of Money, Credit and Banking, Blackwell PublishingAhmad Ausaf (1993) Research Paper 20 Contemporary practices of Islamic financing techniques, Islamic Research and Training Institute, Islamic Development Bank, JeddahAhmad Ausaf (1987) Development and Problems of Islamic Banks, Islamic Development Bank, Jedd ahAyub M. (2007) Understanding Islamic Finance, John Wiley and Sons Ltd, ChichesterCommerz Bank, Securitisation of Banks, https//cbcm.commerzbank.com/en/site/banks/securitisation_cf_banks/index.jsp Access Date 14th August 2010Deringer (2006), Islamic finance basic principles and structures Freshfields Bruckhaus Consultants, pp 30.Dualeh, S. (1998). Islamic Securitisation Practical Aspects. Paper presented at the World Conference on Banking, July 8-9, 1998, Geneva.El-Qorchi, Mohammed (2005), Islamic Finance Gears Up, Finance and Development (December), International Monetary Fund (IMF), 46-9.Fabozzi, F. J. (ed). (2001). Accessing Capital Markets through Securitisation. New York Fran J Fabozzi Associates.Hassan Kabir M. Lewis Mervyn K. (2007) Handbook of Islamic Banking, Edward Elgar Publishing Ltd., CheltenhamIMF, Islamic Finance Expanding Rapidly, URL Accessed on 18th August 2010 http//www.imf.org/external/pubs/ft/survey/so/2007/res0919b.htmIslamic Credit and Political Risk Insuran ce, A Useful Risk Management Tool For BanksURLhttp//www.kantakji.com/fiqh/Files/Insurance/Islamic%20Credit%20and%20Political%20Risk%20Insurance.htm Access Date 17th August 2010Jaffar S. (2006) Islamic Retail Banking and Finance Global Challenges and Opportunities, Euromoney Books, LondonJobst, Andreas A. (2006b), Asset Securitisation A Refinancing Tool for Firms and Banks, Managerial Finance, Vol. 32, No. 9, 731-60.Kazarian G. E. (1993) Islamic versus traditional banking Financial Innovation in Egypt, Boulder Westview PressKothari, Vinod (n.d.). Securitisation a Primer. Available at , Access Date 17th August 2010.Manjoo F. A., (2005) Securitisation An Important Recipe for Islamic Banks A Survey, Review of Islamic Economics, Vol. 9, No. 1, 2005, pp.53Masum Billah, M. (unknown), Shariah Frameworks of Securitisation in the Capital Market URL http//www.applied-islamicfinance.com/sp_securitisation_1.htm Access Date 10th August 2010Mullineux, A. W. Murinde, V. (2003) Handbook of Internat ional Banking, Edward Elgar Publishing Ltd., CheltenhamUsmani M. M. T. (1988), An Introduction to Islamic Finance, Islamic Publication, pp. 1-5, KarachiZaher, Tarek S. Hassan, Kabir M. (2001) A comparative Literature Survey of Islamic Finance and Banking Financial Markets, Institutions and Intruments, Blackwell, New York