The effect of financial crisis on Islamic banking Compared with Essay - 1

The effect of financial crisis on Islamic banking Compared with non-Islamic banking in Gulf council countries (GCC) - Essay Example The paper will also discuss the key features of GCC economy, and that one of Qatar in particular. The economic features of this region will be tied to the factors that led to a better performance of IBs in GCC, during 2008 financial crisis. The largest Islamic banks (IBs) belong to the countries of the Gulf Cooperation Council (GCC). The 2008-2010 global financial crises brought a fresh perspective on the relationship between financial stability and Islamic banking, especial in relation to the flexibility of such an industry during financial crises. Some specialists have argued that the Islamic banks were less affected by the financial crises because of their risk-sharing and asset-based nature as well as the fact that they do not deal with the kind of assets associated with most of the losses that non-Islamic banks suffer during financial crises. Still another section of experts argue that the Islamic Banks, just like the non-Islamic banks, have depended on leverage and have taken on considerable amounts of risks that expose them to the second phase impact of the global financial crises (ÄÅ'ihà ¡k & Hesse, 2008). By and large, Islamic Banks suffered less risk compared to non-Islamic banks during the 2008 financial crisis, especially considering that the non-Islamic banks suffered the largest losses in Europe and the US. A close study on 2008 financial crises shows that Islamic Banks did better, in terms of profitability, than the non-Islamic banks. This situation, however, retracted in 2009 as the impact of the crises became more real. Islamic Banks from GCC continuously showed a growth in assets and credit that surpassed the non-Islamic banks in all countries, apart from UAE (ÄÅ'ihà ¡k & Hesse, 2008). The nature of Islamic banks business model played a key role in containing the unfavorable effect on their profitability during 2008 financial crisis. Additionally, some Islamic banks

Cold War Final Essay Example | Topics and Well Written Essays - 1000 words - 1

Cold War Final - Essay Example Between 1947 and 1991, the Soviet Union faced up to the United States and its allies in a political tension that threatened the peace of other uninvolved nations. With the two groups having nuclear capabilities, the world nearly suffered due to differences. While none of the two actually engaged in military attacks against each other, threats were issued as diplomatic rows raged on (Totten, 2013). Unfortunately, even though the row involved only two groups, whatever else happened in the world was largely dictated by the events unfolding between the two. War- whether real or cold- is a detriment to education, and if could be avoided, that is the best option. Totten (2013) claims that the status of US education and the world at large was greatly affected by the standoff. Before the war escalated, the effects were not felt that much but that situation changed as the intensity of the war took to new heights. Sadly, the flashpoints witnessed during this war were passed on to the children hence affecting their lives negatively. Consequently, the relations between the students from the countries at war expressed similar attitudes to each thus polarizing the education status. Great fear seized the Western countries and their respective citizens with many fearing the worst in terms of economic status (Richards, 2012). Many feared that Russia’s financial gains would worsen the matter; the US feared domination of the rest of the world by Russia. As a result, every side tried as much as possible to assemble its allies in case the war turned violent. Furthermore, crisis happening elsewhere in the world saw each of the side support one and oppose the other with stakes. Today, though the intensity of the war is nowhere near that time, Bayulgen and Arbatli (2013) claim that there is still a cold war between the US and Russia. Recently, the US has