Art History Essay

Jose De Ribera, Martydom of Saint Bartholomew, ca. 1639. Oil on canvas * Ribera uses this piece to scorn idealization of any kind. * The drama and brutality expresses the harsh times of the Counter-Reformation. * We notice Caravaggio’s influence on Ribera through the naturalism and drama used in Martydom of Saint Bartholomew and Caravaggio’s many works. Francisco De Zurbaran, Saint Serapion, 1628. Oil on canvas * Serapion was a British martyr who was supposed to fight the Moors in Spain, who ended up being butchered in Algeria. * What makes this piece different is a complete lack of violence. There is no blood or any sign of a wound, as we can see his white robe is spotless. * Unlike most martyr paintings that make the subject seem heroic and brave, Zurbaran captures the true helplessness of the saint, winning the viewer’s emotions. Diego Velazquez, Water Carrier of Seville, ca. 1619. Oil on canvas * This piece captures the social issue of the rich and poor of Spain during the time. * The contrast of dark and light shows elements of Caravaggio, who Velaquez had studied. * Although this scene shows everyday life, the care it conveys suggests a deeper meaning. Diego Velazquez, Surrender of Breda, 1634-1635. Oil on canvas * Velazquez aided Philip IV in regaining power by using Surrender of Breda as propaganda. * This piece was not only a symbol of Spanish nationalism, but a tribute to Ambrogio Spinola, the Spanish general of this war. * Velazquez’s relationship with Spinola made Surrender of Breda especially historically accurate. Diego Velazquez, King Philip IV of Spain (Fraga Philip), 1644. Oil on canvas * Velazquez portrays Philip as a military leader by focusing attention on his marvelous red and silver campaign dress. * The painting is also known as Fraga Philip, because it was painted in the town of Fraga in Aragon. * This portrait was just another example of Velazquez’s propagandistic images used for King Philip IV. Diego Velazquez, Las Meninas, 1656. Oil on canvas * The use of depth and content in this piece helped prove Las Meninas as Velazquez’s masterpiece. * The mirror on the back wall seems to be the reflection of the king and queen, meaning they are being painted on the other side of the room. * Velazquez actually painted himself as the artist in the room. Peter Paul Rubens, Elevation of the Cross, 1610. Oil on panel * Rubens used elements both from the Renaissance and of the Italian Baroque to create the first Pan-European style, as seen in Elevation of the Cross. * The tension is emotional and physical, as seen in Christ’s face and the grief of his followers. * The drama is intensified by the strong use of light and dark. Peter Paul Rubens, drawing of Laocoon, ca. 1600-1608. Black-and-white chalk drawing with bistre wash * The predominantly black chalk drawing shows Rubens’ study of classical representation of the human form. * This piece is obviously a revisit of the marble sculpture that depicted Laocoon and his sons breaking free from serpents. * Rubens had a big focus on mastering the human body, which led him to copy classical works of earlier master artists, such as this piece. Peter Paul Rubens, Arrival of Marie de’ Medici at Marseilles, 1622-1625. Oil on canvas * The painting depicts Marie arriving in France after a long voyage from Italy. * The women waiting for her is an allegory personified to represent France, and the goddesses, Neptune and the Nereids (daughters of the sea god Nereus), represent the sky and the sea rejoicing her safe arrival. * The surfaces are enriched with decoration to further bring the painting together. Peter Paul Rubens, Allegory of the Outbreak of War, 1638. Oil on canvas * The beautiful human forms and energy that take away attention from the chaos of this piece is a recurrent theme in Rubens’ other works. * The Thirty Years’ War was Rubens’ reason to create Allegory. * The woman clothed in black, deprived of her jewels and ornaments is an unhappy Europe. Anthony Van Dyck, Charles I Dismounted, ca. 1635. Oil on canvas * Charles I turns his back on his attendants as he looks over his domain. * His location on higher ground gives us the idea he is higher than all of his observers and followers. * The king impersonates as a noble man for a casual walk in the park, but no one can take their eyes off his regal poise. Hendrick Ter Brugghen, Calling of Saint Matthew, 1621. Oil on canvas * The naturalistic presentation of the subjects echoes the work of Caravaggio. * This piece differs from work of Caravaggio because the use of color, rather than extreme contrast of light and dark. * There is a definite claustrophobic effect as noticed by the figures being crammed into a well-lit room. Gerrit Van Honthorst, Supper Party, 1620. Oil on canvas * In this painting, Honthorst portrays the darker side of humanity. * The man on the right being fed by the woman is sometimes interpreted as a warning by Honthorst to avoid the sin of gluttony. * Honthorst frequently placed a hidden light source in his paintings, such as Supper Party, to work with violent dark and light effects. Frans Hals, Archers of Saint Hadrian, ca. 1633. Oil on canvas * The Archers were one of many militia groups that helped in liberating the Dutch Republic from Spain. * In this portrait, each man is a troop member yet individually different from the next. * The troop members’ attire further helps create a certain rhythm to the piece. Frans Hals, The Women Regents of the Old Men’s Home at Haarlem, 1664. Oil on canvas * This piece captures the details of each sitter and their cultural characteristics. * The women seem to have different emotions all around, from complete disinterest to concern of their environment. * The monochromatic theme of this painting further adds to the painting’s restraint. Rembrandt Van Rijn, Anatomy Lesson of Dr. Tulp, 1632. Oil on canvas * The students’ individual faces tell us each has different feelings and thoughts about the man being dissected. * Van Rijn diagonally placed the body to break away from the strict horizontal orientation found in traditional paintings. * Rembrandt chose to have the students all on the left side to highlight Dr. Tulp and the body.

Feminist View on Society

Feminist views on society; Feminists believe that society is male dominated (patriarchal). Feminists want women and men to have equal rights and powers as there is inequality between the two sexes. They look at society on a macro scale so the ideas are generalised to the whole of society. Feminists also believe that society is based on disagreement and conflict between the sexes as women believe they have been disadvantaged in society.Liberal feminists believe that men and women are becoming more equal in society, and that the inequality between men and women was caused due to sexist laws and the differences in socialisation. They believe that in order abolish feminism people need to be brought up differently and all sexist laws need to be gotten rid of. Marxist feminists believe that women are still unequal in society and that women are there to benefit capitalism by being unpaid housewives. They look on the family in a negative and critical way as they feel this is what caused thei r oppression along with capitalism.As they gave up work to take care of children and had housework responsibilities, thus becoming dependent on their husbands for money and everything else. Marxist feminists believe that in order for there to be equality between the sexes capitalism needs to be abolished and replaced with a communist society. Radical feminists also believe that men and women are still unequal in society and that men benefit more from family life. They believe that they are exploited by men and the patriarchal society. Some radical feminists believe that the solution is separation.Feminism does have some criticism’s for example they tend to overlook the fact that the general position of women in society has changed over time and this can only be explained in terms of economic and political changes in society. They also fail to understand that fundamentally society is unequal in its economic and social structure, and that equal opportunity is a fairly meaningle ss concept as society is divided by class and economic exploitation. Women as well as working class men are at an economic disadvantage.

Develop an applicant attraction strategy Essay Example | Topics and Well Written Essays - 500 words

Develop an applicant attraction strategy - Essay Example Disability programs are designed to recruit persons with disabilities because they do have full rights to apply to any position. Another recruiting program is the Workforce Recruitment Program for College Students with Disabilities (Evans, Glover, & Wilson, 2007). This program provides a linkage between employers and students who have just completed their secondary school or have graduated with degrees, these students are normally disabled are ready to prove that their disability is not inability; they have zeal to put their learned skills into practice. JR Smith can adopt a post military employment program where they will establish training centers exclusive for them. The firm should indicate on their advertisement that they will offer incentives to persons who shall be recruited (Evans, Glover, & Wilson, 2007). Trainings and medical covers should include part of the incentives the target group will automatically benefit from. Flexible working hours should be included in the advert for the target group. The firm should reiterate that biasness against gender, race or disabilities shall not arise in the process of recruiting so that a massive number of people can be attracted. It is essential for the recruiting firm to put in mind that those exiting from military may not have enough experience in areas dealt with in JR Smith consultancy firm (Foster, 2003). Therefore, there is the need to establish a favorable training program for them so that they can asquint themselves. Most of them are old; therefore, it is crucial to take them sl ow, and be run through trainings that interest them. JR Smith firm will benefit greatly from training the newly recruited employees because they will have less energy directed towards supervision, fewer errors in duty delivery will be encountered; therefore, productivity and efficiency will increase. The new recruits will have a proper understanding of the

Acipenser gueldenstaedtii Assignment Example | Topics and Well Written Essays - 1500 words

Acipenser gueldenstaedtii - Assignment Example The use of chemical agents for the treatment of the disease has been limited mainly owing to its less effective nature on the parasite, toxicity to fishes and cost of the treatment process. However, several compounds have been tested for their toxicity both under in vitro conditions and as in-feed components including the mucolytic compound L-cysteine ethyl ester but most of these compounds were either not commercially viable or lacked efficacy. One compound that was found to be both non-toxic and efficacious was bithionol, a phenolic compound which significantly reduced the pathology of the disease when administered as an in-feed compound. The current study examined the efficacy of oral administration of bithionol along with the standard freshwater bath treatment and also to deduce the rate of re-infection The study used mixed-sex, diploid Atlantic salmons with a mean mass of 130.4g and they were acclimatized to sea water conditions over a period of 3 weeks in an aquaculture center. A total of 396 Atlantic salmon (AS) were equally allocated into 9 tanks which were present as three separate ultraviolet light-treated sea water systems. The tanks received constant aeration and the fishes were allowed to acclimatize for 1 week within these systems and were fed with a commercial feed to satiation before commencing the experiment. Each tank was then randomly allocated a treatment and the treatment groups included a control which was a commercial diet with oil, prophylactic bithionol and therapeutic bithionol. The fishes were fed at 1% of their body weight and the daily and weekly feed intake was determined. The feeding was continued for 14 days after which the fishes were exposed to the Neoparamoeba spp., which were isolated from the gills of infected AS by removing the amoeba from the gill s followed by centrifugation and concentration. This

Culture and costums of Korea Assignment Example | Topics and Well Written Essays - 1500 words

Culture and costums of Korea - Assignment Example Culture refers to a set of socially transmitted human behaviors, beliefs, arts, among other thoughts and works of the human mind. The definition implies that culture is reliant on the interaction and integration of humans. Historically, regions had secluded boundaries owing to the numerous geographical barrier such as mountains, seas and rivers, which enclosed specific regions thus cutting off human interactions. At such times, regions had specific cultures defining their languages, arts, dietary and religion among many other aspects of human lives. However, with the onset of industrial revolution, the use of machines resulted in the invention of better ways of transportation and communication thus overcoming the previously existing geographical barriers. Located in North East Asia, Korea is an expansive territory currently divided into two political territories; North Korea and South Korea because of divergent political interests of both the leaders and the citizens (Kleiner, 2001). The use of the internet in the modern society and the advanced modes of communication such as mobile phones have resulted in the creation of a global village in which people can live anywhere and work anywhere. The intensified human interactions in the contemporary society have therefore revolutionized culture. A conflict between the previously definite traditional cultures and the modern culture has diverse effects depending on the type of the society. Whenever cultures conflict, the people abandon their previous cultural practices that they consider backward and adopt certain features of the new culture that they feel appropriate. Culture in the modern global society is relative and liberal with every individual and social institution choosing only the specific cultural practices that best protects their interests. Korea is one such region in which the conflict between the traditional culture and the modern culture is evident and the effects of the modern culture on the tradition al culture thus manifest itself. The division of the region into two might have affected the culture of the people in the region but since culture is reliant on the interaction of humans, the regions still share some of their cultural practices as they had throughout history with their neighbors in the eastern bloc such as China and Japan. Both the south and North Korea are developed economies and industrial hubs. South Korea for example is home to some of the leading electronics manufacturing companies such Samsung and HTC among many other local and international brands. With an internet infiltration of more than seventy percent, Korea is an active part of the global village as her citizens interact with others throughout the world. Korea has numerous international airports and attracts millions of tourists annually. Such features of both the economy and social structure imply that the intensified human interactions in the modern Korea presents numerous cultural conflicts as the mo dern culture through the revamped interactions and economic activities in the modern society. Previously, Korea had definitive cultural practices and arts. Such practices included specific languages, religions, arts such as ceramics and dietary among others. However, with time the region opened up for trade with the West and other parts of the world such as African and South America. Coupled with the concepts of urbanization, globalizations seamlessly turned the expansive Korean region into a metropolitan society habiting people from diverse cultural backgrounds. Korea thus forms an effective choice for the study assignment since the cultural conflict between the traditional and new culture is evident. The society is developed and industrial; the living pattern of the people has changed with time to the perfect urban settings in the modern Korea. Such a society thus exhibits diverse cultural patterns as native Koreans continue holding onto some of their traditional cultural practice s

Child Sexual Abuse Detection and Prevention Essay

Child Sexual Abuse Detection and Prevention - Essay Example Due to the traumatizing nature of sexual abuse, effective treatment approaches and prevention strategies have recently been developed (Roberts & Miltenberger 1999). This research discusses on of the most traumatic dilemma faced by all the societies of the world: Child Sexual Abuse. Special emphasis has been laid on the detection (in terms of symptoms) and prevention (including laws) of child sexual abuse. The problem of child sexual abuse warrants serious consideration by society as a whole. Prevalence of the problem has been suggested to include almost one-quarter of the nation's population (Finkelhor et al., 1990). As a result of sexual abuse, a variety of emotional and behavioral problems may develop and continue into the young victim's adulthood. Due to the traumatizing nature of sexual abuse, effective treatment approaches and prevention strategies have recently been developed (Roberts & Miltenberger 1999). Child sexual abuse can be defined as any sexual activity, overt or covert, between a child and an adult (or older child, where the younger child's participation is obtained through seduction or coercion) (Ratican 1992). It generally has a significant negative and pervasive psychological impact on its victims (Browne & Finkelhor, 1986). Russell (1986) found that female sexual abuse survivors had a significantly greater number of negative life experiences, such as repeated victimization, marital and family instability, and decreases in socioeconomic status, than did those who had not been abused. Briere and his associates found significantly higher levels of psychological symptoms among both male and female survivors than among non-abused adults in clinical and nonclinical samples (Briere, Evans, et al., 1988; Briere & Runtz, 1988). Child sexual abuse is an etiological factor in some of the most severe mental disorders (Ratican 1992), including dissociative disorders, anxiety disorders, eating disorders, sexual disorders, affective disorders, personality disorders, and substance abuse (Gelinas, 1983). It is thought to be a major cause of borderline and multiple personality disorders and may be a contributing factor in many others, such as paranoid and obsessive-compulsive and passive-aggressive disorders (Saltman & Solomon, 1982; Wheeler & Walton, 1987). Chapter 2: Data Analysis Research findings have suggested that between two and four females out of 10 have been sexually abused (Wilcox, Richards & O'Keeffe 2004), while approximately half as many males have been sexually abused (Cawson et al., 2000). (It should be borne in mind, however, that prevalence rates vary depending on how abuse is defined.) The literature also indicates that non-contact offences are reported less often, as well as incest offences (Wilcox, Richards & O'Keeffe 2004). General population estimates would suggest that one in 100 children are sexually abused by a father or father figure (Laurance, 2000). It is of considerable interest that estimates further suggested that two in 100 children are sexually abused by siblings. In respect of issues concerning the traumatic effects of sexual abuse, it seems significant that, despite these statistics, fathers

Defining Public Relations Paper Essay Example | Topics and Well Written Essays - 500 words

Defining Public Relations Paper - Essay Example i. It is a managerial function that focuses on researching, communicating, interacting and establishing close relations with varied stakeholders of an organization in an ethical manner (Corbett). Mainly, this entails establishing an ample environment where all the stakeholders will benefit mutually through relations that they have constituted and achieve specific results. 2. It is a management function whose mandate encompasses evaluating public attitudes, identifying policies and methods either by an individual or corporation intended to safeguard public’s interest. This is to implement an already predetermined action aimed at earning both understanding and acceptance (Narasimha 4). 3. It is both an art and science that focuses on analyzing trends, forecasting their results and advising corporation managers before implementing predetermined programs of action that will safeguard both interests of the public and the corporation (Newsom & Haynes 4). Therefore, this implies the term despite having varied definitions, their implications are the same except the wording from one person’s perspective to another. However, there are some definitions that attach extra essence to public’s interests and the relationships in an organization that would lead to a good reputation evident in definitions 2 and 3. This is contrary to the definition 1 whose emphasis encompasses communication and understanding in an organization besides ensuring healthy relationship with the public. I think one of the reasons that have contributed to the emergency of numerous definitions of â€Å"Public relations† is due to the perception, which the mass media has created in the people’s minds Joosuk & Candace 319). This is especially in the mode of reporting whereby for the past decades, media has utilized the term in relation to negative connotations especially when expounding varied interactions between the society and the corporation

Organisational Behaviour Essay Example | Topics and Well Written Essays - 2500 words

Organisational Behaviour - Essay Example It is, however, vital to learn the organisation’s background to delve any further. IKEA prides itself to be the most successful and largest furniture retailer in the world, and boasts provision of everything and anything for a home, having products suited for people of all ages, and all this at low prices. The company promises excellent value for money spent with all of their products designed with an emphasis on natural colours to bring a light and airy atmosphere within a home. This concept is based purely on IKEA’s Swedish origins, where people pride themselves in living in harmony with nature with simple home designs which offer maximum efficiency in all weathers (http://www.iamaceo.com/marketing/ikea-brand-success-strategy/). IKEA’s vision, â€Å"to create a better everyday life for the many people† is reportedly largely aimed at the global middleclass which is also evident from their business idea, â€Å"to offer a wide range of well designed, funct ional home furnishing products at prices so low that as many people as possible will be able to afford them† (http://www.ikea.com/ms/en_GB/about_ikea/press_room/student_info.html). To achieve this global mission, IKEA is well known for having a rapid internationalisation process from its Swedish origins and its rapid expansion into countries with cultures very different from its original Swedish national culture (Hollensen, 2007). With 265 stores worldwide, where 235 are owned by the IKEA group while the remaining 30 by franchisees outside the group; the extent of IKEA’s expansion is obvious (IKEA, 2007). Although owned by franchisees in some countries, the IKEA concept and trademark are solely owned by Inter IKEA Systems B.V in Netherlands. This means Inter IKEA Systems B.V is the franchiser for all IKEA stores within or outside of the IKEA group, ensuring uniformity of corporate values right from the centre (IKEA, 2007). Having looked into the organisation’s ba ckground, it is now important to study Morgan’s metaphors, which can then be applied to the organisation. Firstly, Morgan suggests that organisation theorists, after decades of comparing organisations as mechanistic entities, have moved to the biological sciences for more apt comparisons, where individuals, groups, organisations, populations or species of organisations, and their social ecology are paralleled with molecules, cells, complex organisms, species and ecology (Morgan, 2006, pg 34). The idea derived from drawing such comparisons is that certain species of organisation are adapted to certain external conditions just as certain species of organisms are to certain environments (Morgan, 2006, pg 33). Such metaphoric views have changed the classical mechanistic focus on efficiency, and structure to the basic element of survival with more emphasis on the organisation-environment relationship (Morgan, 2006; 1998). This can be further complimented with modern environmental analysis methods like SWOT (strengths, weaknesses, opportunities and threats) and PEST (political, economical, sociological and technological) analyses, that have been developed solely for comparing an organisation’s internal abilities to the external factors that may or are affecting its survival and performance in that environment (Johnson et al, 2008; Kotler, 2003). Within the metaphor of an organisation as a living organism, Morgan introduces certain

Love and Its Tribulations Essay Example for Free

Love and Its Tribulations Essay Love is one of the most sought after things in the world. Love cannot be bought, it can only be found by the lucky few and those who are able to uncover it never want to let it go. In Jane Eyre, our heroine meets Mr. Rochester, who is a possible love interest, when she takes up position as a governess at his estate. There are many things that could hinder their quest for love, like the presence of doubt and suspicion. Other factors that could deter a healthy relationship are their different levels of experience, and their dissimilar personalities. The reason why some relationships do not last long is because of jealousy and distrust. In this case Janes rival is Blanche Ingram. It is true that Jane is not envious of Blanches mind, but she resents Blanches ability to gain the complete attention of Mr. Rochester. It is already evident what Janes reaction will be when other, more desirable women, are in Rochesters presence. Neither of them has publicized their feelings for each other yet they cannot bear the sight of the other with somebody else. Rochester emits his jealousy as well, when Jane receives news of Mrs. Reeds illness. He does not agree with her decision to leave Thornfield, because he is afraid that she may not return. He is resentful of Janes relatives for the reason that he knows that his bond with her could not compare to her family ties. He cannot compete with that kind of familial connection. He only has money to give, and money cannot buy the time Jane spent with her relatives, no matter how badly she was treated . A factor that could complicate a new romance developing is Janes lack of experience with men and Rochesters willingness to take advantage of it. The men she has come across thus far have treated her with cruelty and disdain. For example her cousin John Reed bullied and tortured her from morning until night when she was only a little girl. Jane was never presented with much affection or care by her benefactress, Mrs. Reed. So when she meets Mr. Rochester, she finds herself confused as to what her feelings are towards him. She has never experienced romantic love before, so she does not know if what she is feeling is love or just fondness. And if she does sort out her feelings she would not know how to communicate her emotions to Mr. Rochester. As well, Mr. Rochester is a manipulative man; he enjoys having  power over those around him. This is shown where he misleads Jane into believing that he will marry Blanche Ingram, when his true intent was to marry her. As if he didnt have enough power over her already, being her employer, provider of her home, and her only source of income. His demanding nature and her poor judgement could be detrimental to the progress of forming a serious relationship. Jane is a stubborn being, and this character trait could lead to discrepancies in her associations with Mr. Rochester. Jane is very much aware of her position at Thornfield manor as the governess. She is completely dependent on Mr. Rochester and she does not like it. This is demonstrated when Jane must leave Thornfield to visit her Aunt, and needs money to fund her journey. Mr. Rochester willingly overpays Jane, but her obstinate nature refuses to take more than she earned. Perhaps the reason for Janes cautious-like behaviour can be accounted for by her dismal childhood, which hardened her. She became accustomed to working for everything she received. Mr. Rochesters abundant wealth and generosity, does not help the situation either. For instance if Mr. Rochester offered Jane gifts, she would not accept them and could even feel insulted by the gesture. Also Mr. Rochester would be offended by her decline, therefore both parties would walk away feeling disheveled by each others actions. Their contrasting qualities could inhibit their ability to obtain a functional relationship. These problems will continue to play a role in the downfall of their relationship. Mr. Rochester and Jane have many barriers in their way such as trust issues, differences in experience, and their distinctive personalities. These problems will continue damaging their relationships, unless Jane is able to gain independence from Rochester and they are both willing to compromise for the sake of the other.

Society and Culture Depth Study Asylum Seeker Essay Example for Free

Society and Culture Depth Study Asylum Seeker Essay Asylum seekers are a group of people, who from fear of persecution for reasons of race, religion, social group or political opinion, has crossed an international frontier into a country in which they hope to be granted refugee status. The Australian public opinion towards asylum seekers has often been unwelcoming at best and hostile at worst and this is often the way the media has portrayed the influx of people seeking asylum in Australia. Prime Minister Julia Gillards asylum seeker policy aims to tackle people smuggling. The Government is stepping up efforts to process asylum seekers offshore, and has recently negotiated a refugee swap deal with Malaysia. Opposition Leader Tony Abbott has vowed to stop the boats through offshore processing, bringing back temporary protection visas and turning back asylum seeker boats where possible. It is interesting that my perception on hearing and seeing the media reports on the boat asylum seekers that it is an over whelming problem that the media has portrayed it to look like a growing problem with the influx of boats coming into Australian waters. Where as this article by ABC NEWS â€Å"Fewer asylum seekers heading to Australia: UNHCR â€Å" according to the UN report the number of asylum seekers has dropped. After reading this article was the first I have heard the media mention numbers reducing in the arrival of people seeking asylum. The numbers of asylum seekers coming to Australia has dropped by 9 per cent and the outcome of this has been described as â€Å" modest and manageable â€Å" according to the ABC NEWS article. As for many others like myself I can surely say that this isn’t often mentioned in other media coverage’s. In no way in this feature article does it portray asylum seekers to be out doing wrong and to be an overwhelming situation. This article clearing indicates positive co-operation with the Malaysian people swap deal as it states that â€Å"The Malaysia arrangement is the best way to do this, and Tony Abbott should get out of the way and allow the Government of the day to implement it border protection policies.† The way the media can put together a story together on the news can change ones perspective on the producers editing skills. For instance, I have come across a Channel Nine news clip that reports on the centrelink benefits that the asylum seekers are granted with. Using the terms â€Å"the true welfare cost† and â€Å"current wave of asylum seekers† while sinister music playing in the background to create an unwelcoming scene towards the asylum seekers can cause a very influential decision making process made by the viewers at home. While these words are used in a judgemental way that is creating a bad image for asylum seekers as undeserving and unwanted people. While the majority of the viewers would have taken no notice of the type of music being played because a subconscious trick has been played on our thoughts making these facts very more believing. As the reporter goes on images and texts are passing the background video footage of an incoming boat filled with asylums as the large, bold figures of statistics are distracting the viewer which makes it difficult to concentrate on the footage as we are being told that 3 out of 4 asylum seekers are granted these centre link benefits and other numerical figures. http://www.youtube.com/watch?v=WcSOtPv4RCY Nine News asylum seekers report PART 2 STATISICAL ANALYSIS OF DATA RELATING TO ASYLUM SEEKERS Asylum seekers have arrived by boat in Australia since 1976 when the first wave of asylum seekers arrived from Vietnam. Since then Australia has experienced boat arrivals from asylum seekers fleeing persecution from conflict such as countries including Cambodia, China, Iraq, Afghanistan, Iran, Burma and Sri Lanka. A common myth that is pretty much focused on in the media is that most asylum seekers who come to Australia arrive by boat, giving rise to metaphors of a flood, tide or swamping of the county by those seeking asylum on boats. In fact, most asylum seekers arrive by air with a valid visa and later apply for asylum while living in the community (Parliament of Australia Library, 2011). Over the last decade, over 90% of boat arrivals have been found to be genuine refugees. It is illogical and unfair to punish refugees and asylum seekers in the hope of deterring people smugglers. And numerous reports have shown that many asylum seekers are unaware of Australia’s domestic asylum policies, so the use of punishing policies has zero limiting effect. A clear example of the failure of punitive policies to prevent asylum seekers is the policy of Temporary Protection Visas (TPVs). The number of asylum seekers arriving by boat to Australia continued to increase after the introduction of temporary protection visas in 1999 (48% more asylum seekers arrived by boat in 2001 than in 1999). Asylum seekers arriving by boat only started decreasing in 2003 when global asylum numbers started dropping. This evidence strongly suggests that temporary protection visas have no value as a restriction to number of asylum seekers arriving by boat. The same rationale holds true for mandatory detention, introduced in 1992. Refugees, asylum seekers and the Australians who support them have had to endure countless media articles full of inaccuracies and stereotypes. But sometimes media organisations go one step further and publish information which is blatantly false. For example asylum seekers receiving centrelink payments. Asylum seekers are not entitles to the same forms of financial support as citizens or permanent residents. The asylum seeker assistance (ASA) scheme provides assistance to eligible asylum seekers who are in the process of having their basic living expenses, paid at 89 per cent of the centrelink special benefit.

Islamic Banking Deposits and Profitability Relationship

Islamic Banking Deposits and Profitability Relationship The purpose of this research study is to analyze the impact of Islamic Banking Deposits (Investment, Savings and Current accounts) on the profitability measure ROE of the Islamic banking industry in Paksitan. For this purpose, time series data of eleven quarters covering the period 2007 to 2009 is taken for the required variables from State Bank of Pakistans quarterly editions of the Islamic banking bulletin. The results showed that all the deposit variables had a significant positive relation with the profitability of Islamic banks. The aim is to contribute to the literature on deposit-profitability relationship of Islamic banks. Islamic banking is a banking activity based on Islamic principles, which do not allow the paying and receiving of interest (riba) and promotes profit sharing in the conduct of banking business. (Ghazali, 2008). According to the latest quarterly edition of State Bank of Pakistans Islamic Banking Bulletin?, the total Shariah-compliant assets worldwide have grown to about US$ 700 billion â€Å" with annual growth exceeding 10.0 percent during the past decade and are projected to grow to US$ 1.6 trillion by 2012. State Bank of Pakistans strategic plan for Islamic banking industry launched in 2008, aims to increase the size of the Islamic banking industry to 12.0 percent (of total banking assets) by 2012. Islamic financial institutions do not only play a vital role in resource mobilization, resource allocation and employment but are also actively involved in the course of implementing government monetary policy. Apart from offering nearly all traditional banking facilities, Islamic banks also assist domestic and international trades. Seeing the potential of the Islamic market, western conventional-based financial institutions such as Citibank, JP Morgan, Deutsche Bank, ABN Amro and American Express have introduced interest-free products to customers. Similarly, multinational corporations such as General Motors, IBM and Dewoo Corporation have already begun to use interest-free services.(Haron and Azmi, 2003). Studies that assess the influence of various factors that determine Islamic banks profitability are still at initial stage. Few attempts have up till now been made to empirically analyze the Islamic banks performance. In the Islamic banking literature, the work of Haron (1996a) was the first attempt to examine factors that contributed towards Islamic banks profitability. Most of the research used multiple regression analysis technique in measuring the relationship among the determining factors and profitability ratios. Extending the previous work in Islamic banks performance, this paper examines the strength of relationship between deposit variables and profitability of Islamic banks using univariate regression methodology. By studying the association between Islamic banksÃ… ¸ performance and the deposit variables, this paper contributes to the on-going discussion on the deposits and profitability relationship of Islamic banks. The paper is divided into seven sections. The literature review on determinants of Islamic bank performance is highlighted in Section 2. Section 3 examines the methodology used in analyzing the relationship between the deposits variables used in this study and the performance of Islamic banks. Section 4 presents the discussion and implication. The references are listed in section 5. The tables are listed in section 6 and figures in section 7. Literature Review The whole foundation of Islamic Finance is that the two sides of the equation (i.e. the fund-providers and the fund-users) work in agreement as partners, without depositors being assured of any return from those who use their money. In practice, Islamic banks draw approximately three-quarters of the capital from their depositors, and do not guarantee any precise level of return to these fund-providers. (Shubber and Alzafri,2008). Ghafoor (1995) states that all Islamic banks have three kinds of deposit accounts: current, savings and investment. Current or demand deposit accounts are almost the same as in all conventional banks. Deposit is assured. Savings deposit accounts function in different ways. In some banks, the depositors permit the banks to make use of their money but they attain a guarantee of being paid the complete amount back from the bank. Banks adopt a number of methods of inducing their customers to deposit with them, but profit is not promised. In others, savings accounts are treated as investment accounts but with less strict conditions as to withdrawals and minimum balance. Capital is not assured but the banks take care to invest capital from such accounts in fairly risk-free short-term projects. Therefore, lower profit rates are expected and that too only on a section of the average minimum balance on the ground that a high level of reserve funds need to be kept at all times to meet up withd rawal demands. Contrastingly, Investment deposits are accepted for a predetermined or indefinite period of time and the investors consent in advance to share the profit (or loss) in an agreed proportion with the bank. Capital is not assured. (Ghafoor, 1995). Some IFIs (Islamic Financial Institutions) classify deposits in terms of wadiah or amanah. Current accounts of IFIs are regarded as qard hasan or qard (alternatively, as wadiah/amanah). (Farooq, 2008). Qard al-Hasana is defined as deposits whose full repayment on demand is guaranteed by bank. (Ahmad, 1994). The deposits in the current account are regarded as if they are loans from the customers to the bank and therefore, bear no yield to the account holders.? (Al-Jarhi and Iqbal. 2001). Deposit accounts are neither a liability nor equity capital. They are a hybrid? source of capital, and must be acknowledged as such. Depositors are partners with the bank, but enjoy no ownership rights. (Shubber and Alzafri,2008). Sudin Haron (1996) mentions that the law allows the banks to accept two types of deposits, i.e., qard al-hasanah deposits and term investment deposits. The qard al-hasanah deposits includes current as well as savings accounts which vary in their operational rules. (Ahmad, 1994). If it is allowed that the borrower can pay extra money voluntarily, then treating deposits as qard-hasan allows the banks as the borrowers to pay extra money to the depositors (lenders). Unlike savings account services at conventional banks, where depositors are automatically rewarded upon appointment of their funds, returns to savings account holders are reliant on the Shariah (Islamic laws) principles which are practiced by Islamic banks when offering this service. When wadiah (trusteeship) or qard hassan (benevolent loan) are used, the returns are entirely at the discretion of the banks. (Sudin Haron, 1996). Nienhaus, (2004) argues that if the customers of Islamic banks desire a return on their funds, they should pay into investment accounts (also called participation accounts or PLS, profit and loss sharing accounts). Whereas, credit balances on these accounts are not considered deposits in the conventional sense. The returns on Islamic banks investment accounts are not fixed in advance; the customers participate by a certain proportion in the financial outcome of the utilization of their investment funds by the bank. These results could also result in a loss. In case of loss, the clients will have to bear a portion of the loss which would reduce the nominal value of the credit balances of their respective investment accounts. In such a situation, the clients cannot claim a full reimbursement of the money paid in. The full reimbursement, however, is constituent for a deposit in the strict sense. (Nienhaus, 2004). Rosly and Zaini, (2008) say that the public in general put their money in banks for either fulfilling transactional needs or for investment needs. To suffice the transactional objective, Islamic banks offer services such as wadiah yad dhamanah deposit, which facilitates safekeeping of their deposit money with guarantee services. In this product, depositors no longer deposit funds to receive a fixed income. Instead, they place their deposits for protection.`Wadiah yad dhamanah means safekeeping with guarantee. Wadiah yad dhamanah depositors permit the Islamic bank to invest their money in return for deposit safety that they got for free. Since the caretaker service is given without a fee, the Islamic bank holds no legal compulsion to pay depositors a predetermined return and may do so only on voluntary basis. In this way, the bank holds choice on profit distribution policy in the form of gift (hibah). The same is not correct for Islamic fixed deposits, frequently known as mudarabah in vestment deposits. In this partnership composition, no guarantee is given to capital protection and fixed income, as it runs under equity principle. It is a precarious product as the underlying contract is based on profitâ€Å"loss sharing system. Profits are shared only in case of performing investments, while capital may depreciate or even shrink if the investment ends in losses. (Rosly and Zaini, 2008). Haron and Azmi, (2004) discuss that similar to conventional banks, Islamic banks also rely on depositors money as a key source of fund. Bank Muamalat Malaysia Berhad for example, had total deposits amounting to 94 percent of total liabilities and shareholders equity at the end of December 2003. While in the case of Jordan Islamic Bank, Islamic Bank of Bangladesh, Bank Muamalat of Indonesia, and Bank Shariah Mandiri of Indonesia, the corresponding amounts were 94%, 86%, 76%, and 79%, respectively. These figures reveal the vast high total of the depositors money as a supply of finance for Islamic banks. Hence, it becomes indispensable for the management of Islamic banks to identify the factors that are most likely to convince customers decision making in depositing their capital with Islamic banks. (Haron and Azmi, 2004). With the exception of a study done by Metawa and Almossawi (1998) where religion was seen as a reason influencing customers choice to support Islamic banks in Bahrain, other studies have proven counter wise. The evidence from studies done in Sudan and Turkey, for example, revealed that religion was not the main motive for customers choosing Islamic banks (Erol and El-Bdour, 1989). Likewise, studies conducted in Malaysia and Singapore revealed both religion and profit as the explanation for people maintaining their association with Islamic banks (Haron et al., 1994; Gerrad and Cunningham, 1997). Since depositors are attracted by profits, it is vital for Islamic banks management to be aware of the fact that return rates on deposits persuade their customers decision to deposit. (Haron and Azmi, 2004). Relating to commercial banks deposit composition, Hester and Zoellner (1966) and Heggested (1977) found that time and savings deposits had a significant inverse correlation with profitability. Smirlocks (1985) findings demonstrated a significant positive relationship amid demand deposits and profits. In contrast, Fraser and Rose (1971) found that loan rate; time deposit rate and loan-to-deposit ratio had no outcome on profitability. Haron (1996a) found evidence to suggest that current, savings and investment accounts of Islamic banks are positively related to profitability. Fraser et al (1974) considered operating costs, deposit and loan structures as factors within the control of management and found that the factor which had the biggest control on bank performance was bank cost followed by banks deposit and loan composition. Heggested (1977) proved that banks heavily devoted to time and savings deposits earned considerably lower returns than banks which have higher reliance on demand deposits. Smirlock (1985) confirmed that demand deposits were a cheaper source of funds and had a positive impact on bank profits. In the literature, the majority of studies found that savings and time deposits have a negative relationship with profitability, while a positive relationship has been found for current account deposits. Haron (2004) found that nearly all deposit structure variables had no significant relationship with the profitability ratios. Deposits in current account, was the only variable which had a significant relationship with Banks portion of income as a percentage of total assets and Net profit before tax as a percentage of total assets. Each 1% increase in the current account holdings increased the banks income by 0.034% and profit before tax by 0.036%. This end result was in line with the findings reported by Smirlock (1985). Since a current account service is considered a cost-free facility, it is anticipated that the more funds deposited into this account, the more Islamic banks would stand to profit. Interestingly, no significant relationship was found between current account deposits and Total income as a percentage of total assets, which implied that an increase in current accounts does not generate more proceeds to the bank as a whole but only functions as a cost saving measure. That is, no returns are paid to these depositors. In the case of savings and investment accounts, even though their relationships with all profitability ratios were at an insignificant level, the signs of their regression coefficients warranted further clarification. No contradiction with the findings of conventional banking literature with regard to savings accounts was apparent. A negative relationship was found between Savings account deposits and the profitability measures. This result suggests that any increase in savings accounts will reduce profits and it corresponds to the findings in the current banking literature (see for example Hester and Zoellner, 1966; and Heggested, 1977). The results on Investment account deposits in Harons (2004) study are not similar to those findings reported in earlier researches. Hester and Zoellner (1966) and Heggested (1977), for example, found that fixed deposit facilities had an inverse relationship with profitability. Since some of the characteristics of investment deposits at Islamic banks are similar to the fixed deposit facilities of conventional banks, it is expected that more funds deposited into these accounts would result in less profit to the bank. In contrast, Smirlock (1985) believed that an increasing amount in fixed deposits would have a positive relationship with a banks profitability. Harons (2004) study found that Investment account deposits had a positive relationship with all profitability measures and thus, confirmed Smirlocks hypothesis. Haron and Azmi (2004) attempted to investigate the strength of influence between both internal and external variables and profitability of Islamic banks in selected countries using timeseries techniques of cointegration and error-correction mechanism. They found a significant long-run relationship between profitability measures of Islamic banks and determining variables such as liquidity, deposit items, assets structure, inflation and money supply. They also found that Investment account deposits was the only variable which had a significant relationship with all three profitability ratios. For Current account deposits, a positive relationship was found with Banks portion of income as a percentage of total assets. The result indicated that a 1% increase in current account holdings increased the banks portion of income by 0.064%. Given that current account facility is a cost-free service, the more funds deposited into this account, the higher profits will be made available to Islamic banks. Interestingly, current account deposits had no significant relationship with Total income as a percentage of total assets implying that an increase in current accounts does not generate more income to the bank, but only functions as a cost saving measure. On other words, Islamic banks do not pay any rewards to their depositors. These results were in line with the findings of Haron (1996a, 2004). Savings deposits variable was found to have a significant positive relationship with Total income as a percentage of total assets. For every 1% rise in savings account, total income increased by 0.26%. This was in line with normal banking practices whereby Islamic bank could use the funds deposited in this account for productive purposes and thus, generating additional revenue for the bank. Increases in deposits size has a positive impact on Earnings per share (EPS), as a portion of depositors profits is minused as a fee for the benefit of the bank and its shareholders. (Shubber and Alzafri, 2008). Returns on Islamic deposits are though flexible in nature since returns are based on performance rather than contracted upfront as evident in all interest bearing deposits. Although the mudarabah rates (investment deposit rates) are quoted using the rates given in the previous months, they are not fixed beforehand and serve as an indicative rate of return on Mudarabah deposits (ROMD). The Mudarabah (investment deposits) contract works along profitâ€Å"loss sharing principles while fixed deposits of conventional banks are based on the contract of debt. As an equity product, a Mudarabah deposit offers no principal protection and legal claims against any form of returns. To make up for the risk exposure of the product, Mudarabah depositors are expected to be given higher retur ns relative to that of commercial banks fixed depositors who avoided risk. (Rosly and Zaini, 2008). Haron and Shanmugam (1995) in their study try to link the profit rates to Islamic banks deposits. Using Pearsons Correlation and First Order Autoregressive model, they found strong negative relationship between the two variables. Likewise, their finding showed a positive linear relationship between conventional and Islamic bank deposits. Haron and Ahmed (2000) argue that people who placed their deposits at saving and investment account facilities were guided by the profit motive. The utility maximization theory amongst the Muslim customers was further confirmed by the negative relationship between the rate of interest in conventional banks and the sum deposited in interest-free deposit facilities. Muslims should be guided by Islamic doctrines when making their economic decisions. Therefore, role of educating people regarding Islamic banking system should be played globally. It is indeed a challenging task. (Haron and Ahmed, 2000). Shubber and Alzafri, (2008) say that EPS (Earnings per share) improves as the level of deposits increases, as depositors were viewed as sharers in the profit and loss, rather than being entitled to a fixed interest rate. This supports that increasing deposits have a positive impact on EPS (Earnings per share). Increasing deposits, therefore, do not direct any increment in the cost of equity. In fact, equity holders benefited from larger deposits, as owners of the latter pay out management fees, which is deducted from the depositors share of the profits. Also, the market value of Islamic banks is independent of WACC. (Shubber and Alzafri,2008). Haron and Azmi (2004a) demonstrated that with the exception of fixed and investment deposits, any increase in rates of interest, deposits at conventional system will increase and deposits at Islamic system will decrease, and vice-versa. As for the fixed and investment deposits, ambiguous results were found. One possible explanation for this is that rates of profit for deposits at Islamic system are known at the end of the deposit period and not at the beginning as opposed to the conventional system. Any upward changes in interest rate of conventional system will have an adverse impact to the deposit levels in the Islamic system. Therefore, rates of profit of Islamic system must at any time be similar to those of the conventional system. Finally, religious dimension can be considered as an important element to attract more people to deposit their funds in the Islamic system. This could also be the reason why more and more conventional banks are starting to offer Islamic banking facili ties to their customers not only in Malaysia but also to other parts of the world. (Haron and Azmi, 2004a). Hasan and Bashir (2003) argue that the rising contest and continuous innovation to provide financial services, all contribute to a increasing interest in a detailed evaluation of Islamic banks. Depositors are interested in evaluating the performance of their banks since they are not given fixed returns and the nominal values of their deposits are not assured. In trying to make best use of the value of shareholders investment, Islamic banks are exposed to risks. Hence, analyzing the Islamic banks performance is important from economic and public policy perspectives. (Hasan and Bashir, 2003). Methodology This study uses univariate regression analysis to examine the relationship between deposits and profitability of Islamic banking industry in Pakistan. Univariate regression is a method of regression analysis that uses one explanatory variable to predict values of a single dependent variable. SPSS software is applied to obtain the univariate regression. In this study, three independent variables titled Fixed deposits, Savings Deposits and Current account deposits have been used. The dependent variable of profitability is measured by ROE which is the ratio of a banks net after-tax income divided by its total equity capital. The return on equity (ROE) is considered to be one of the profitability performance ratios (Tarawneh, 2006). It indicates how effectively the management of the bank is able to turn shareholders funds (i.e. equity) into net profit. ROE (Return on Equity) has been tested separately for the three independent deposit variables to avoid the issue of multicollinearity sin ce all the deposit variables are highly correlated to each other. This paper attempts to test three hypotheses. According to Becker (1995), hypothesis testing is the process of judging which of two contradictory statements is correct. Hypothesis 1: Investment Deposits increase the profitability of Islamic banks. Hypothesis 2: Saving Deposits increase the profitability of Islamic banks. Hypothesis 3: Current Account Deposits increase the profitability of Islamic banks. The data for this study is time series data taken from the quarterly editions of the Islamic banking bulletin? published by the State Bank of Pakistan. These bulletins publish the consolidated financial statement variables representing the entire Islamic banking industry of Pakistan including all the full fledge Islamic banks (Al Baraka Islamic bank, Bank Islami Pakistan limited, Dawood Islamic bank Limited, Dubai Islamic bank limited, Emirates Global Islamic bank Ltd and Meezan Bank Ltd.) as well as the Islamic branches of conventional banks (Askari Bank Limited, Bank Al Falah Ltd., Bank Al Habib, Faysal Bank, Habib Metropolitan bank, MCB Bank Ltd, National bank of Pakistan, Soneri Bank Ltd, Standard Chartered Bank, The Bank of Khyber, Royal bank of Scotland, United Bank Ltd). The sample period for this study is limited from 2007 to 2009 as most of the Islamic banks started operations from 2007 in Pakistan. Hence, the consolidated data of the eleven consecutive quarters has been use d in this study. The general equations of the three models are: Profitability = b0 + b1(ID)(1) Profitability = b0 + b1(SD)(2) Profitability = b0 + b1(CD)(3) Where, b0 = intercept (constant) Dependent variable: Profitability = ROE (Return on Equity) Independent variables: ID = Investment Deposits SD = Savings Deposits CD = Current Account Deposits Results The results of the regression analysis for model.1, 2 and 3 are shown in Tables 1, 2 and 3 respectively. All the three models were significant at the 5% level of significance. The value of the adjusted coefficient of determination (adjusted R2) for ROE in model.1 is 0.4 which demonstrates that 40% of the variability in total is explained by its linear association with Fixed deposits variable. As for model 2 and 3, the corresponding values of adjusted R2 are 0.399 and 0.377 respectively. A relatively small value of adjusted R2 does not necessarily mean that the model is in appropriate to measure the relationship between independent and dependent variables. (Haron, 2004). The value of adjusted R2 is usually influenced by a number of predictive variables relative to the sample size and it becomes smaller as we have fewer observations per predictor variable (Hair et al., 1995). To provide a rationale for the variance in R2 and adjusted R2 values, the Dublin-Walter test was conducted. The Dublin-Walter statistics values for all the three values were less than two which proves that the variance was due to negative autocorrelation in the sample observations. Also, the adequacy of a model for predicting is validated by the F-test. (Haron, 2004). As presented in Table 1, 2 and 3, all F-ratio values are statistically significant at 5% significance level for all profitability models. Hence, these results confirmed that the models applied were useful for measuring the relationship between deposits variable items and the profitability variable. Discussion The results supported all the three hypotheses that Investment, Savings and Current account deposits increase the profitability of Islamic banks. This result is in line with Haron (1996a, 2004) who founded evidence to suggest that all three sources of funds (current, savings and investment accounts) for Islamic banks are positively related to profitability. Hypothesis 1 of this study suggested that investment deposits increase the profitability of Islamic banks. The results show that the value of the adjusted coefficient of determination (adjusted R2) for ROE in model.1 is 0.4 which demonstrates that 40% of the variability in total is explained by its linear association with investment deposits variable. Hence, results support Hypothesis 1. Similarly, hypothesis 2 stated that savings deposits increase the profitability of Islamic banks. The results show that the value of the adjusted R2 for ROE in model.2 is 0.399 at 5% significance which shows that 39.9% of the variability in total is explained by its linear association with savings deposit variable. Hence, results also support Hypothesis 2. Finally, hypothesis 3 proposed that savings deposits increase the profitability of Islamic banks. The results show that the value of the adjusted R2 for ROE in model.3 is 0.377 which shows that 37.7% of the variability in total is explained by its linear association with savings deposit variable at 5% level of significance. Hence, results support Hypothesis 3 also. All these results were significant at a 5% level of significance. Referring to previous literature, the results are mixed. In the literature, most studies found that savings and investment deposits have an inverse relationship with profitability, while a positive relationship has been found for current account deposits. In this study, the current account deposit variable had significant positive relationship with profitability. This result is in line with the findings reported by Smirlock (1985), Haron (1996a, 2004) and Haron Azmi (2004). Since a current account service is considered a cost-free facility, it is expected that the more funds deposited into this account (current), the more Islamic banks will stand to profit. In the case of savings deposits, a positive relationship was found between these deposits and profitability. This result suggests that any increase in savings accounts will increase profits and this is in line with Haron (1996a) and Haron Azmi (2004) as Islamic banks can use these savings funds deposited in this account for productive purposes and therefore, generating additional revenue for the Islamic banks. The results on investment deposits in this study are not similar to most of the findings reported in commercial banking literature. For example, Hester and Zoellner (1966) and Heggested (1977) found that fixed deposit facilities had an inverse relationship with profitability. In contrast, Smirlock (1985), Haron (1996a, 2004), Haron and Azmi (2004) believed that an increasing amount in fixed deposits would have a positive relationship with a banks profitability. This study found that investment deposits had a positive relationship with all profitability measures and thus, confirmed Smirlocks, Harons and Azmis hypothesis. In light of the above findings, Islamic banking provides a better and ethical alternative that is not only Riba-free according to the rules of Shariah but also profitable to depositors and investors since all the deposit accounts are positively correlated to profitability. Since, Islamic banking provides three different interest-free deposit facilities to its depositors and investors to facilitate them according to their financial needs, people should invest in these deposit accounts in order to patronize the Islamic banking industry and to receive good returns in the form of hiba from these Islamic banks. In addition, Ghazali (2008) suggests that Islamic banking is indeed relevant to the current economic crisis. The global financial meltdown stemming from the US actually poses an opportunity for the Islamic banking system to demonstrate its distinctiveness. The financial meltdown revealed the desperate need for a system like Islamic finance, based on the principle of profit-sharing where both parties are subjected to probable losses and returns. It is a fair and just system. This is contrasting to the conventional system, where Islamic banks do not acquire or trade debt; rather they manage substantial assets which are tied to real economic activities.. This is really an opportunity for the Islamic financial community to reveal to the global market that the Islamic financial system is actually a robust and feasible alternative to the conventional interest-based system. Hence, people should support the Islamic banking industry worldwide since deposits are positively related to the profitability of Islamic banks. Hence, increased deposits would result in higher profitability of Islamic banks which in return would provide higher returns to its depositors. This would finally lead to implement a justified and ethical economic system which encourages a fair distribution of wealth and resources throughout the society. This study can be extended to include more time series and cross-sectional data of Islamic banks of other countries. The study may also be extended to cover other determinants of Islamic banking profitability. Islamic Banking Deposits and Profitability Relationship Islamic Banking Deposits and Profitability Relationship The purpose of this research study is to analyze the impact of Islamic Banking Deposits (Investment, Savings and Current accounts) on the profitability measure ROE of the Islamic banking industry in Paksitan. For this purpose, time series data of eleven quarters covering the period 2007 to 2009 is taken for the required variables from State Bank of Pakistans quarterly editions of the Islamic banking bulletin. The results showed that all the deposit variables had a significant positive relation with the profitability of Islamic banks. The aim is to contribute to the literature on deposit-profitability relationship of Islamic banks. Islamic banking is a banking activity based on Islamic principles, which do not allow the paying and receiving of interest (riba) and promotes profit sharing in the conduct of banking business. (Ghazali, 2008). According to the latest quarterly edition of State Bank of Pakistans Islamic Banking Bulletin?, the total Shariah-compliant assets worldwide have grown to about US$ 700 billion â€Å" with annual growth exceeding 10.0 percent during the past decade and are projected to grow to US$ 1.6 trillion by 2012. State Bank of Pakistans strategic plan for Islamic banking industry launched in 2008, aims to increase the size of the Islamic banking industry to 12.0 percent (of total banking assets) by 2012. Islamic financial institutions do not only play a vital role in resource mobilization, resource allocation and employment but are also actively involved in the course of implementing government monetary policy. Apart from offering nearly all traditional banking facilities, Islamic banks also assist domestic and international trades. Seeing the potential of the Islamic market, western conventional-based financial institutions such as Citibank, JP Morgan, Deutsche Bank, ABN Amro and American Express have introduced interest-free products to customers. Similarly, multinational corporations such as General Motors, IBM and Dewoo Corporation have already begun to use interest-free services.(Haron and Azmi, 2003). Studies that assess the influence of various factors that determine Islamic banks profitability are still at initial stage. Few attempts have up till now been made to empirically analyze the Islamic banks performance. In the Islamic banking literature, the work of Haron (1996a) was the first attempt to examine factors that contributed towards Islamic banks profitability. Most of the research used multiple regression analysis technique in measuring the relationship among the determining factors and profitability ratios. Extending the previous work in Islamic banks performance, this paper examines the strength of relationship between deposit variables and profitability of Islamic banks using univariate regression methodology. By studying the association between Islamic banksÃ… ¸ performance and the deposit variables, this paper contributes to the on-going discussion on the deposits and profitability relationship of Islamic banks. The paper is divided into seven sections. The literature review on determinants of Islamic bank performance is highlighted in Section 2. Section 3 examines the methodology used in analyzing the relationship between the deposits variables used in this study and the performance of Islamic banks. Section 4 presents the discussion and implication. The references are listed in section 5. The tables are listed in section 6 and figures in section 7. Literature Review The whole foundation of Islamic Finance is that the two sides of the equation (i.e. the fund-providers and the fund-users) work in agreement as partners, without depositors being assured of any return from those who use their money. In practice, Islamic banks draw approximately three-quarters of the capital from their depositors, and do not guarantee any precise level of return to these fund-providers. (Shubber and Alzafri,2008). Ghafoor (1995) states that all Islamic banks have three kinds of deposit accounts: current, savings and investment. Current or demand deposit accounts are almost the same as in all conventional banks. Deposit is assured. Savings deposit accounts function in different ways. In some banks, the depositors permit the banks to make use of their money but they attain a guarantee of being paid the complete amount back from the bank. Banks adopt a number of methods of inducing their customers to deposit with them, but profit is not promised. In others, savings accounts are treated as investment accounts but with less strict conditions as to withdrawals and minimum balance. Capital is not assured but the banks take care to invest capital from such accounts in fairly risk-free short-term projects. Therefore, lower profit rates are expected and that too only on a section of the average minimum balance on the ground that a high level of reserve funds need to be kept at all times to meet up withd rawal demands. Contrastingly, Investment deposits are accepted for a predetermined or indefinite period of time and the investors consent in advance to share the profit (or loss) in an agreed proportion with the bank. Capital is not assured. (Ghafoor, 1995). Some IFIs (Islamic Financial Institutions) classify deposits in terms of wadiah or amanah. Current accounts of IFIs are regarded as qard hasan or qard (alternatively, as wadiah/amanah). (Farooq, 2008). Qard al-Hasana is defined as deposits whose full repayment on demand is guaranteed by bank. (Ahmad, 1994). The deposits in the current account are regarded as if they are loans from the customers to the bank and therefore, bear no yield to the account holders.? (Al-Jarhi and Iqbal. 2001). Deposit accounts are neither a liability nor equity capital. They are a hybrid? source of capital, and must be acknowledged as such. Depositors are partners with the bank, but enjoy no ownership rights. (Shubber and Alzafri,2008). Sudin Haron (1996) mentions that the law allows the banks to accept two types of deposits, i.e., qard al-hasanah deposits and term investment deposits. The qard al-hasanah deposits includes current as well as savings accounts which vary in their operational rules. (Ahmad, 1994). If it is allowed that the borrower can pay extra money voluntarily, then treating deposits as qard-hasan allows the banks as the borrowers to pay extra money to the depositors (lenders). Unlike savings account services at conventional banks, where depositors are automatically rewarded upon appointment of their funds, returns to savings account holders are reliant on the Shariah (Islamic laws) principles which are practiced by Islamic banks when offering this service. When wadiah (trusteeship) or qard hassan (benevolent loan) are used, the returns are entirely at the discretion of the banks. (Sudin Haron, 1996). Nienhaus, (2004) argues that if the customers of Islamic banks desire a return on their funds, they should pay into investment accounts (also called participation accounts or PLS, profit and loss sharing accounts). Whereas, credit balances on these accounts are not considered deposits in the conventional sense. The returns on Islamic banks investment accounts are not fixed in advance; the customers participate by a certain proportion in the financial outcome of the utilization of their investment funds by the bank. These results could also result in a loss. In case of loss, the clients will have to bear a portion of the loss which would reduce the nominal value of the credit balances of their respective investment accounts. In such a situation, the clients cannot claim a full reimbursement of the money paid in. The full reimbursement, however, is constituent for a deposit in the strict sense. (Nienhaus, 2004). Rosly and Zaini, (2008) say that the public in general put their money in banks for either fulfilling transactional needs or for investment needs. To suffice the transactional objective, Islamic banks offer services such as wadiah yad dhamanah deposit, which facilitates safekeeping of their deposit money with guarantee services. In this product, depositors no longer deposit funds to receive a fixed income. Instead, they place their deposits for protection.`Wadiah yad dhamanah means safekeeping with guarantee. Wadiah yad dhamanah depositors permit the Islamic bank to invest their money in return for deposit safety that they got for free. Since the caretaker service is given without a fee, the Islamic bank holds no legal compulsion to pay depositors a predetermined return and may do so only on voluntary basis. In this way, the bank holds choice on profit distribution policy in the form of gift (hibah). The same is not correct for Islamic fixed deposits, frequently known as mudarabah in vestment deposits. In this partnership composition, no guarantee is given to capital protection and fixed income, as it runs under equity principle. It is a precarious product as the underlying contract is based on profitâ€Å"loss sharing system. Profits are shared only in case of performing investments, while capital may depreciate or even shrink if the investment ends in losses. (Rosly and Zaini, 2008). Haron and Azmi, (2004) discuss that similar to conventional banks, Islamic banks also rely on depositors money as a key source of fund. Bank Muamalat Malaysia Berhad for example, had total deposits amounting to 94 percent of total liabilities and shareholders equity at the end of December 2003. While in the case of Jordan Islamic Bank, Islamic Bank of Bangladesh, Bank Muamalat of Indonesia, and Bank Shariah Mandiri of Indonesia, the corresponding amounts were 94%, 86%, 76%, and 79%, respectively. These figures reveal the vast high total of the depositors money as a supply of finance for Islamic banks. Hence, it becomes indispensable for the management of Islamic banks to identify the factors that are most likely to convince customers decision making in depositing their capital with Islamic banks. (Haron and Azmi, 2004). With the exception of a study done by Metawa and Almossawi (1998) where religion was seen as a reason influencing customers choice to support Islamic banks in Bahrain, other studies have proven counter wise. The evidence from studies done in Sudan and Turkey, for example, revealed that religion was not the main motive for customers choosing Islamic banks (Erol and El-Bdour, 1989). Likewise, studies conducted in Malaysia and Singapore revealed both religion and profit as the explanation for people maintaining their association with Islamic banks (Haron et al., 1994; Gerrad and Cunningham, 1997). Since depositors are attracted by profits, it is vital for Islamic banks management to be aware of the fact that return rates on deposits persuade their customers decision to deposit. (Haron and Azmi, 2004). Relating to commercial banks deposit composition, Hester and Zoellner (1966) and Heggested (1977) found that time and savings deposits had a significant inverse correlation with profitability. Smirlocks (1985) findings demonstrated a significant positive relationship amid demand deposits and profits. In contrast, Fraser and Rose (1971) found that loan rate; time deposit rate and loan-to-deposit ratio had no outcome on profitability. Haron (1996a) found evidence to suggest that current, savings and investment accounts of Islamic banks are positively related to profitability. Fraser et al (1974) considered operating costs, deposit and loan structures as factors within the control of management and found that the factor which had the biggest control on bank performance was bank cost followed by banks deposit and loan composition. Heggested (1977) proved that banks heavily devoted to time and savings deposits earned considerably lower returns than banks which have higher reliance on demand deposits. Smirlock (1985) confirmed that demand deposits were a cheaper source of funds and had a positive impact on bank profits. In the literature, the majority of studies found that savings and time deposits have a negative relationship with profitability, while a positive relationship has been found for current account deposits. Haron (2004) found that nearly all deposit structure variables had no significant relationship with the profitability ratios. Deposits in current account, was the only variable which had a significant relationship with Banks portion of income as a percentage of total assets and Net profit before tax as a percentage of total assets. Each 1% increase in the current account holdings increased the banks income by 0.034% and profit before tax by 0.036%. This end result was in line with the findings reported by Smirlock (1985). Since a current account service is considered a cost-free facility, it is anticipated that the more funds deposited into this account, the more Islamic banks would stand to profit. Interestingly, no significant relationship was found between current account deposits and Total income as a percentage of total assets, which implied that an increase in current accounts does not generate more proceeds to the bank as a whole but only functions as a cost saving measure. That is, no returns are paid to these depositors. In the case of savings and investment accounts, even though their relationships with all profitability ratios were at an insignificant level, the signs of their regression coefficients warranted further clarification. No contradiction with the findings of conventional banking literature with regard to savings accounts was apparent. A negative relationship was found between Savings account deposits and the profitability measures. This result suggests that any increase in savings accounts will reduce profits and it corresponds to the findings in the current banking literature (see for example Hester and Zoellner, 1966; and Heggested, 1977). The results on Investment account deposits in Harons (2004) study are not similar to those findings reported in earlier researches. Hester and Zoellner (1966) and Heggested (1977), for example, found that fixed deposit facilities had an inverse relationship with profitability. Since some of the characteristics of investment deposits at Islamic banks are similar to the fixed deposit facilities of conventional banks, it is expected that more funds deposited into these accounts would result in less profit to the bank. In contrast, Smirlock (1985) believed that an increasing amount in fixed deposits would have a positive relationship with a banks profitability. Harons (2004) study found that Investment account deposits had a positive relationship with all profitability measures and thus, confirmed Smirlocks hypothesis. Haron and Azmi (2004) attempted to investigate the strength of influence between both internal and external variables and profitability of Islamic banks in selected countries using timeseries techniques of cointegration and error-correction mechanism. They found a significant long-run relationship between profitability measures of Islamic banks and determining variables such as liquidity, deposit items, assets structure, inflation and money supply. They also found that Investment account deposits was the only variable which had a significant relationship with all three profitability ratios. For Current account deposits, a positive relationship was found with Banks portion of income as a percentage of total assets. The result indicated that a 1% increase in current account holdings increased the banks portion of income by 0.064%. Given that current account facility is a cost-free service, the more funds deposited into this account, the higher profits will be made available to Islamic banks. Interestingly, current account deposits had no significant relationship with Total income as a percentage of total assets implying that an increase in current accounts does not generate more income to the bank, but only functions as a cost saving measure. On other words, Islamic banks do not pay any rewards to their depositors. These results were in line with the findings of Haron (1996a, 2004). Savings deposits variable was found to have a significant positive relationship with Total income as a percentage of total assets. For every 1% rise in savings account, total income increased by 0.26%. This was in line with normal banking practices whereby Islamic bank could use the funds deposited in this account for productive purposes and thus, generating additional revenue for the bank. Increases in deposits size has a positive impact on Earnings per share (EPS), as a portion of depositors profits is minused as a fee for the benefit of the bank and its shareholders. (Shubber and Alzafri, 2008). Returns on Islamic deposits are though flexible in nature since returns are based on performance rather than contracted upfront as evident in all interest bearing deposits. Although the mudarabah rates (investment deposit rates) are quoted using the rates given in the previous months, they are not fixed beforehand and serve as an indicative rate of return on Mudarabah deposits (ROMD). The Mudarabah (investment deposits) contract works along profitâ€Å"loss sharing principles while fixed deposits of conventional banks are based on the contract of debt. As an equity product, a Mudarabah deposit offers no principal protection and legal claims against any form of returns. To make up for the risk exposure of the product, Mudarabah depositors are expected to be given higher retur ns relative to that of commercial banks fixed depositors who avoided risk. (Rosly and Zaini, 2008). Haron and Shanmugam (1995) in their study try to link the profit rates to Islamic banks deposits. Using Pearsons Correlation and First Order Autoregressive model, they found strong negative relationship between the two variables. Likewise, their finding showed a positive linear relationship between conventional and Islamic bank deposits. Haron and Ahmed (2000) argue that people who placed their deposits at saving and investment account facilities were guided by the profit motive. The utility maximization theory amongst the Muslim customers was further confirmed by the negative relationship between the rate of interest in conventional banks and the sum deposited in interest-free deposit facilities. Muslims should be guided by Islamic doctrines when making their economic decisions. Therefore, role of educating people regarding Islamic banking system should be played globally. It is indeed a challenging task. (Haron and Ahmed, 2000). Shubber and Alzafri, (2008) say that EPS (Earnings per share) improves as the level of deposits increases, as depositors were viewed as sharers in the profit and loss, rather than being entitled to a fixed interest rate. This supports that increasing deposits have a positive impact on EPS (Earnings per share). Increasing deposits, therefore, do not direct any increment in the cost of equity. In fact, equity holders benefited from larger deposits, as owners of the latter pay out management fees, which is deducted from the depositors share of the profits. Also, the market value of Islamic banks is independent of WACC. (Shubber and Alzafri,2008). Haron and Azmi (2004a) demonstrated that with the exception of fixed and investment deposits, any increase in rates of interest, deposits at conventional system will increase and deposits at Islamic system will decrease, and vice-versa. As for the fixed and investment deposits, ambiguous results were found. One possible explanation for this is that rates of profit for deposits at Islamic system are known at the end of the deposit period and not at the beginning as opposed to the conventional system. Any upward changes in interest rate of conventional system will have an adverse impact to the deposit levels in the Islamic system. Therefore, rates of profit of Islamic system must at any time be similar to those of the conventional system. Finally, religious dimension can be considered as an important element to attract more people to deposit their funds in the Islamic system. This could also be the reason why more and more conventional banks are starting to offer Islamic banking facili ties to their customers not only in Malaysia but also to other parts of the world. (Haron and Azmi, 2004a). Hasan and Bashir (2003) argue that the rising contest and continuous innovation to provide financial services, all contribute to a increasing interest in a detailed evaluation of Islamic banks. Depositors are interested in evaluating the performance of their banks since they are not given fixed returns and the nominal values of their deposits are not assured. In trying to make best use of the value of shareholders investment, Islamic banks are exposed to risks. Hence, analyzing the Islamic banks performance is important from economic and public policy perspectives. (Hasan and Bashir, 2003). Methodology This study uses univariate regression analysis to examine the relationship between deposits and profitability of Islamic banking industry in Pakistan. Univariate regression is a method of regression analysis that uses one explanatory variable to predict values of a single dependent variable. SPSS software is applied to obtain the univariate regression. In this study, three independent variables titled Fixed deposits, Savings Deposits and Current account deposits have been used. The dependent variable of profitability is measured by ROE which is the ratio of a banks net after-tax income divided by its total equity capital. The return on equity (ROE) is considered to be one of the profitability performance ratios (Tarawneh, 2006). It indicates how effectively the management of the bank is able to turn shareholders funds (i.e. equity) into net profit. ROE (Return on Equity) has been tested separately for the three independent deposit variables to avoid the issue of multicollinearity sin ce all the deposit variables are highly correlated to each other. This paper attempts to test three hypotheses. According to Becker (1995), hypothesis testing is the process of judging which of two contradictory statements is correct. Hypothesis 1: Investment Deposits increase the profitability of Islamic banks. Hypothesis 2: Saving Deposits increase the profitability of Islamic banks. Hypothesis 3: Current Account Deposits increase the profitability of Islamic banks. The data for this study is time series data taken from the quarterly editions of the Islamic banking bulletin? published by the State Bank of Pakistan. These bulletins publish the consolidated financial statement variables representing the entire Islamic banking industry of Pakistan including all the full fledge Islamic banks (Al Baraka Islamic bank, Bank Islami Pakistan limited, Dawood Islamic bank Limited, Dubai Islamic bank limited, Emirates Global Islamic bank Ltd and Meezan Bank Ltd.) as well as the Islamic branches of conventional banks (Askari Bank Limited, Bank Al Falah Ltd., Bank Al Habib, Faysal Bank, Habib Metropolitan bank, MCB Bank Ltd, National bank of Pakistan, Soneri Bank Ltd, Standard Chartered Bank, The Bank of Khyber, Royal bank of Scotland, United Bank Ltd). The sample period for this study is limited from 2007 to 2009 as most of the Islamic banks started operations from 2007 in Pakistan. Hence, the consolidated data of the eleven consecutive quarters has been use d in this study. The general equations of the three models are: Profitability = b0 + b1(ID)(1) Profitability = b0 + b1(SD)(2) Profitability = b0 + b1(CD)(3) Where, b0 = intercept (constant) Dependent variable: Profitability = ROE (Return on Equity) Independent variables: ID = Investment Deposits SD = Savings Deposits CD = Current Account Deposits Results The results of the regression analysis for model.1, 2 and 3 are shown in Tables 1, 2 and 3 respectively. All the three models were significant at the 5% level of significance. The value of the adjusted coefficient of determination (adjusted R2) for ROE in model.1 is 0.4 which demonstrates that 40% of the variability in total is explained by its linear association with Fixed deposits variable. As for model 2 and 3, the corresponding values of adjusted R2 are 0.399 and 0.377 respectively. A relatively small value of adjusted R2 does not necessarily mean that the model is in appropriate to measure the relationship between independent and dependent variables. (Haron, 2004). The value of adjusted R2 is usually influenced by a number of predictive variables relative to the sample size and it becomes smaller as we have fewer observations per predictor variable (Hair et al., 1995). To provide a rationale for the variance in R2 and adjusted R2 values, the Dublin-Walter test was conducted. The Dublin-Walter statistics values for all the three values were less than two which proves that the variance was due to negative autocorrelation in the sample observations. Also, the adequacy of a model for predicting is validated by the F-test. (Haron, 2004). As presented in Table 1, 2 and 3, all F-ratio values are statistically significant at 5% significance level for all profitability models. Hence, these results confirmed that the models applied were useful for measuring the relationship between deposits variable items and the profitability variable. Discussion The results supported all the three hypotheses that Investment, Savings and Current account deposits increase the profitability of Islamic banks. This result is in line with Haron (1996a, 2004) who founded evidence to suggest that all three sources of funds (current, savings and investment accounts) for Islamic banks are positively related to profitability. Hypothesis 1 of this study suggested that investment deposits increase the profitability of Islamic banks. The results show that the value of the adjusted coefficient of determination (adjusted R2) for ROE in model.1 is 0.4 which demonstrates that 40% of the variability in total is explained by its linear association with investment deposits variable. Hence, results support Hypothesis 1. Similarly, hypothesis 2 stated that savings deposits increase the profitability of Islamic banks. The results show that the value of the adjusted R2 for ROE in model.2 is 0.399 at 5% significance which shows that 39.9% of the variability in total is explained by its linear association with savings deposit variable. Hence, results also support Hypothesis 2. Finally, hypothesis 3 proposed that savings deposits increase the profitability of Islamic banks. The results show that the value of the adjusted R2 for ROE in model.3 is 0.377 which shows that 37.7% of the variability in total is explained by its linear association with savings deposit variable at 5% level of significance. Hence, results support Hypothesis 3 also. All these results were significant at a 5% level of significance. Referring to previous literature, the results are mixed. In the literature, most studies found that savings and investment deposits have an inverse relationship with profitability, while a positive relationship has been found for current account deposits. In this study, the current account deposit variable had significant positive relationship with profitability. This result is in line with the findings reported by Smirlock (1985), Haron (1996a, 2004) and Haron Azmi (2004). Since a current account service is considered a cost-free facility, it is expected that the more funds deposited into this account (current), the more Islamic banks will stand to profit. In the case of savings deposits, a positive relationship was found between these deposits and profitability. This result suggests that any increase in savings accounts will increase profits and this is in line with Haron (1996a) and Haron Azmi (2004) as Islamic banks can use these savings funds deposited in this account for productive purposes and therefore, generating additional revenue for the Islamic banks. The results on investment deposits in this study are not similar to most of the findings reported in commercial banking literature. For example, Hester and Zoellner (1966) and Heggested (1977) found that fixed deposit facilities had an inverse relationship with profitability. In contrast, Smirlock (1985), Haron (1996a, 2004), Haron and Azmi (2004) believed that an increasing amount in fixed deposits would have a positive relationship with a banks profitability. This study found that investment deposits had a positive relationship with all profitability measures and thus, confirmed Smirlocks, Harons and Azmis hypothesis. In light of the above findings, Islamic banking provides a better and ethical alternative that is not only Riba-free according to the rules of Shariah but also profitable to depositors and investors since all the deposit accounts are positively correlated to profitability. Since, Islamic banking provides three different interest-free deposit facilities to its depositors and investors to facilitate them according to their financial needs, people should invest in these deposit accounts in order to patronize the Islamic banking industry and to receive good returns in the form of hiba from these Islamic banks. In addition, Ghazali (2008) suggests that Islamic banking is indeed relevant to the current economic crisis. The global financial meltdown stemming from the US actually poses an opportunity for the Islamic banking system to demonstrate its distinctiveness. The financial meltdown revealed the desperate need for a system like Islamic finance, based on the principle of profit-sharing where both parties are subjected to probable losses and returns. It is a fair and just system. This is contrasting to the conventional system, where Islamic banks do not acquire or trade debt; rather they manage substantial assets which are tied to real economic activities.. This is really an opportunity for the Islamic financial community to reveal to the global market that the Islamic financial system is actually a robust and feasible alternative to the conventional interest-based system. Hence, people should support the Islamic banking industry worldwide since deposits are positively related to the profitability of Islamic banks. Hence, increased deposits would result in higher profitability of Islamic banks which in return would provide higher returns to its depositors. This would finally lead to implement a justified and ethical economic system which encourages a fair distribution of wealth and resources throughout the society. This study can be extended to include more time series and cross-sectional data of Islamic banks of other countries. The study may also be extended to cover other determinants of Islamic banking profitability.

Endings and Beginnings :: Personal Narrative Essays

Endings and Beginnings Death, while in many respects an "end," actually serves as more of a beginning for all but the most pessimistic of religions or philosophies. Even Socrates, at one time near the end of his life, at least, felt this sort of hopefulness. According to Plato, on his deathbed after having drunk the hemlock, Socrates mumbled these last words to Crito: "I owe a cock to Asclepius; do not forget it." In his time it was customary to offer a cock to Asclepius, the God of Healing, upon recovering from a sickness, so at a time of impending death Socrates was actually thinking of healing in one way or another and beginning anew. When he confronts the idea of his own death earlier, however, in Plato's Apology, he says: "If I were to claim to be wiser than my neighbor in any respect, it would be this: that not possessing any real knowledge of what comes after death, I am also conscious that I do not possess it." On his deathbed, then, Socrates seems to be offering the cock just in case, a common rea son for religion for many dying people. All religions have death rituals or hopeful ideas of where they will end up after their death: Hindus seek to escape repeated reincarnation by practicing yoga, by adhering to Vedic scriptures, and by devotion to a personal guru; Buddhists seek a state of living Nirvana by following the path of righteousness--if they are not perfectly righteous then they repeat another lifetime that is either good or bad depending upon their actions (karma) in their previous life; Christians believe that if they take Jesus Christ as their savior they may gain access to heaven after their life on earth. Joseph Campbell believed that all of the world's religions are tied together by the similarity of their myths. Stories of creation, holy trinities, resurrections, deaths, and heavens repeat over and over again in slightly different forms. He believed, then, that all the world's religions are the same, but they're cloaked in different masks that betray the prejudices of the culture. One thing all religio ns have in common, however, is this: When we die, we all go somewhere else in one form or another. The beginning of a thing is its birth. The end of that thing is its death. Within the broad framework of our lives--the coordinate system that begins at age zero and completes some sort of cycle when our bodies stop breathing--we experience an infinite number of

Winter in the Blood by James Welch Essay -- Native American Novels Win

Winter in the Blood by James Welch Winter in the Blood, a Native American novel written by James Welch, takes place on a cattle ranch in Montana, around 1970. On the surface, this is a story of a Blackfoot Indian sleepwalking through his life, tormented by visions, in search of a connection to his heritage. Welch's language is, at once, blunt and poetic, and the pictures it conjures are dreamlike and disquieting. Furthermore, the narrator of the novel is disheartened by the loss of his brother, Mose, and his father, First Raise ? the two most cherished people in his life. After struggling with guilt, sorrow, and alcoholism, the narrator overcomes these down falls through re-identifying with himself and his culture? specifically through the help of his grandfather, Yellow Calf.   Ã‚  Ã‚  Ã‚  Ã‚  In the opening line of the novel, the narrator provides a vivid description of the his decaying surroundings:   Ã‚  Ã‚  Ã‚  Ã‚  'In the tall weeds of the borrow pit, I took a leak and watched the sorrel mare, her   Ã‚  Ã‚  Ã‚  Ã‚  colt beside her, walk through burnt grass to the shady side of the long-and-mud   Ã‚  Ã‚  Ã‚  Ã‚  cabin . . . . The roof had fallen in and the mud between the logs had fallen out in   Ã‚  Ã‚  Ã‚  Ã‚  chunks, leaving a bare gray skeleton, home only to mice and insects.   Ã‚  Ã‚  Ã‚  Ã‚  Tumbleweeds, stark as bone, rocked in a hot wind against the west wall (1).'; Welch opens the story with this line to show a relationship between the narrator's feelings of worthlessness and the worthlessness of his environment. In addition, the author melodically begins the novel in a somber manner ? so the reader may immediately adjust to the tone encompassing the story.   Ã‚  Ã‚  Ã‚  Ã‚  The narrator continues with describing his resentment towards his home life, 'Coming home was not easy anymore. It was never a cinch, but it had become a torture (2).'; This excerpt provides the reader with an understanding of the sorrow that the protagonist feels at the beginning of the novel and throughout the first half. Further narration includes the protagonists feelings of distance from the land and blame that he places upon himself, 'But the distance I felt came not from country or people; it came from within me (2).'; Thus, as the reader, we understand that the narrator has removed himself from the land and his culture.   Ã‚  Ã‚  Ã‚  Ã‚  On the narrator's journey to find his girlfriend, Welch clearly demonstrates the overabundant use of alco... ...Yellow Calf and to ask him if he was ever acquainted with his 'grandmother'; (another twist: not old woman) (152). And, yes, Yellow Calf did know his grandmother and was able to provide the narrator with the missing pieces, of his grandmother's stories, that he longed for: that Yellow Calf is his grandfather and that he was the only one that treated his grandmother with respect after Standing Bear's death. Once the narrator realized this they,   Ã‚  Ã‚  Ã‚  Ã‚  'shared this secret in the presence of ghosts, in wind that called forth the   Ã‚  Ã‚  Ã‚  Ã‚  muttering of tepees, the blowing snow, the white air of the horses' nostril . . .   Ã‚  Ã‚  Ã‚  Ã‚  but there were others, so many others (159).'; It is then that the narrator completely absorbs the teachings from Yellow Calf, and allows his life to come full circle.   Ã‚  Ã‚  Ã‚  Ã‚  In the end, through the guidance of Yellow Calf, the protagonist discovers himself, learns to respect the natural order of the land, and overcomes the guilt and sorrow that has lived within him for many years. The physical journey may be complete, but the spiritual voyage will continue for a lifetime. Works Cited: Welch, James. Winter in the Blood ,New York : Penguin Books, 1974.