Muslim Australians in Islamic Banking Research Paper

Muslim Australians in Islamic Banking - Research Paper Example In the next section, the author describes his survey. He explains the procedure he undertook that started from the selection of 300 Muslim Australians that included only those who (a) came from a Muslim background, and were practicing Muslims, (b) currently owned a bank account in Australia, (c) were interested in Islamic banking products, and (d) gainfully employed. He then distributed to them a questionnaire consisting of yes and no questions. Based on the answers, he modeled the probability of observing a 1 i.e. a 'yes' answer, as a function of F. In the subsequent sections, following regression analysis on the data, he tabulated the results obtained into different formations making it very easily interpretable by anybody reading the paper. To further clarify the tabulated data, he extensively analyses the results pointing out important findings from the research and drawing conclusions from it. The last two sections of the research namely, Implications and Conclusions respectively, summarize the results of the paper and include the different view points and misunderstandings of the Muslim Australians with regards to the concept of profit-and-loss sharing Islamic banking products. This is an excellent ... ning the author's attempt to determine the willingness of the Australian Muslims to purchase profit-and-loss sharing Islamic banking products instead of opting for earnings from interest which, according to Islamic laws, is forbidden. The sample size in the research should have been bigger as the selected sample of 300 Australian Muslims that only makes up about 0.11% of the population, (considering a population of more than 281,000 Australian Muslims at the time of survey) would not rightly justify any sweeping statement given from the obtained results. However, the author's critical analysis through out the paper, backed by mathematical procedures, is inspiring and convincing enough for the reader to believe in what the paper concludes. The introduction section gives a brief overview of why the research was conducted and what the paper is about. The author introduces the concept of interest-free banking providing a brief history of its evolvement. He explains in it, the necessity of having banks providing interest free profit-and-loss sharing products to cater the growing population of Muslims in Australia as it would be beneficial not only for the Australian Muslims but also for the banks that should the growing needs for customized services for people. In the next section, the author introduces some terminologies associated with Islamic banking. The terms have been clearly and precisely explained for the reader. This section enlightens the reader about different forms of Islamic banking. Following in this well structured paper is the Methodology section which explicitly explains to the reader the research method adopted. The author superfluously states the focus of the research. A sample of 300 Muslims was chosen and given a questionnaire to be filled. The

GMO-genetic modified organism Essay Example | Topics and Well Written Essays - 1500 words

GMO-genetic modified organism - Essay Example There are organizations that are either supporting or rejecting the labeling of GMOs. Organizations such as the American Medical Association have strictly stood against the labeling of these organisms, while Truth In Labeling Campaign has quite openly supported the labeling of these organisms (Melnick, 2012). GMOs should be labeled because this will help consumers in making rational decision, will lead to increase in production of food that is not manufactured through genetic engineering, will keep consumers away from health issues caused due to consumption of GMOs and will lead to increase in exports. One of the reasons due to which labeling of GMOs is being favored is that labeling of food products that have been created through genetic engineering will assist consumers in making informed choices. Consumers are able to make informed choices when they have information that is perfect in nature. Information is regarded as perfect only if the ingredients used in manufacturing food products are provided to the customers and consumers through labels. If goods are not labeled properly, the consumers will not have the information required to make rational choices (Scatasta, 2007). Those in favor of GMOs’ labeling believe that labeling will not decrease the revenue of farmers in developing areas and will rather lead to increase in business for them and this is because those importing GMOs are not ready to accept food products that are not labeled. Not only developing nations will benefit from labeled GMOs, even developed nations such as the United States that is a huge exporter o f GMOs will even benefit from labeling as labeling will ensure smooth exports of GMOs. In certain regions it has been made obligatory that all the food items as well as the seeds that may be produced through genetic engineering or constitute of certain percentage of GMOs need to be