Calcium carbonate

Calcium carbonate Essay Outline1 4.1INTRODUCTION2 4.2AIMS AND OBJECTIVES3 Chapter 24 5.THEORY A ; METHOLOGY5 5.1PRINCIPLE OF THE EXPERIMENT6 5.2APPARATUS AND EQUIPMENTS7 Mortar and pestle Conical flasksWhite tile8 Filter funnelFiltter paper25.00 cm3 pipette9 5.3CHEMICAL USED10 2 M HCl Phenolphthalein11 2 M NaOH12 5.4PROCEDURE13 Chapter 314 6.EXPERIMENTAL Consequence15 6.1THE COLOR CHANGE OF THE SOLUTION16 6.2THE TITRATION RESULT OF BROWN EGG17 6.3THE TITRATION RESULT OF WHITE EGG18 119 220 321 Volume of eggshells solution/cm322 25.0023 25.0024 25.0025 Volume of NaOH used/cm326 20.4027 20.3528 20.0029 Chapter 430 7.CLCULATIONS31 7.1CALCULATIONS32 7.1.1 FOR BROWN EGG33 7.1.2 FOR WHITE EGG34 Chapter 535 8.DISCUSSION AND CONCLUTION36 8.1CONCLUSION37 8.2DISCUSSION38 Beginning of mistakes39 9. Reference 4.1INTRODUCTION Calcium carbonate, CaCO3, is found in nature giving hardness and strength to things such as seashells, stones, and eggshells. Equally difficult as this substance is, it will respond readily with hydrochloric acid to give C dioxide gas ( and two other merchandises ) . In this experiment pupils will plan an experiment by responding eggshells with 2 M HCl to compare the Ca carbonate composing of white ( poulet ) eggshells to brown eggshells. A good quality eggshell will incorporate, on norm, 2.2 gms of Ca in the signifier of Ca carbonate. Approximately 94 % of a dry eggshell is calcium carbonate and has a typical mass of 5.5 grams,1 although these values can differ depending on beginnings. Sums every bit low as 78 % have been published. The staying mass is composed mostly of P and Mg, and hint sums of Na, K, Zn, manganese, Fe, and Cu. In the instance of brown versus white eggs, a unequivocal difference in Ca carbonate sums may be difficult to bring out. However, see this. The colour of the eggs is nil more than a consequence of a different strain. The quality, nutritionary value, and gustatory sensation are indistinguishable between white and brown eggs, though two noteworthy differences are size and monetary value. Brown eggs are normally larger and somewhat more expensive. The ground for the monetary value addition is because brown eggs come from larger biddies, which need to be fed more nutrient daily. With a larger c onsumption of Ca each twenty-four hours, one might anticipate the produced egg to hold a higher Ca carbonate content. However, since the eggs are larger, it must be kept in head that the Ca is spread over a larger surface country during egg formation. A brown eggshell s increased inclination to interrupt, when compared to white, is frequently attributed to this â€Å"thinning out† of Ca during deposition. To avoid the breakage of eggs before making market, the eggshells needs to be every bit strong as possible. The strength of eggshells is chiefly determined by the per centum of Ca carbonate in it. In order to supervise the quality of eggshells, the undermentioned experiment has to be done to find the per centum of Ca carbonate in eggshells.In this experiment, back titration is used. First, extra acid is reacted with the Ca carbonate in eggshells. 2HCl ( aq ) +CaCO3 ( s ) >CaCl2 ( aq ) +H2O ( cubic decimeter ) +CO2 ( g ) Subsequently, if we can happen out the figure of mole of unreacted acid, figure of mole of Ca carbonate can so be found out. The figure of mole of unreacted acid can be found by titration with the undermentioned reaction. HCl ( aq ) +NaOH ( aq ) >H2O ( cubic decimeter ) +NaCl ( aq ) Percentage by mass of Ca carbonate in eggshell can so be calculated by the undermentioned expression: 4.2AIMS AND OBJECTIVES The intent of this experiment is to find the per centum by mass of Ca carbonate in eggshells. READ: I would remind you that extremism in the defense o Essaydesign an experiment that quantifies the sum of Ca carbonate nowadays in a natural substance. associate the sum of a reactant or merchandise of a chemical reaction to another reactant or merchandise. work collaboratively with their equals to work out a given job in the research lab in a manner that theoretical accounts the scientific method. use a common acid reaction between hydrochloric acid and the carbonate ion. Chapter 2 5.THEORY A ; METHOLOGY 5.1PRINCIPLE OF THE EXPERIMENT During this experiment, the per centum of CaCO3 in an eggshell is determined by responding the eggshell with hydrochloric acid. The equation for this reaction is: 2HCl ( aq ) + CaCO3 ( s ) >Ca2+ ( aq ) + CO2 ( g ) + H2O ( cubic decimeter ) + 2Cl- ( aq ) This reaction can non be used straight titrate with the CaCO3. Alternatively, an surplus of hydrochloric acid is added to fade out the eggshell, and the staying acid is titrated with NaOH solution to find the sum of acid that did non respond with the eggshell. The equation used to find the sum of remnant acid is: HCl ( aq ) + NaOH ( aq ) > H2O ( cubic decimeter ) + Na+ ( aq ) + Cl- ( aq ) 5.2APPARATUS AND EQUIPMENTS eaker Pipette FillerElectronicbalance Volumetric flaskBuretteWash bottle Mortar and pestle Conical flasksWhite tile Filter funnelFiltter paper25.00 cm3 pipette 5.3CHEMICAL USED 2 M HCl Phenolphthalein 2 M NaOH 5.4PROCEDURE White and Red coloring material eggshells have taken and the protein membrane was removed on the interior of the eggshells. The eggshell was washed with distilled H2O Dried in an oven for few proceedingss. The eggshell was so grounded into all right pulverization by howitzer and stamp. 2g of eggshell pulverization is weighted accurately by utilizing an electronic balance and it was transferred to a conelike flask. 25.00 cm3 of HCl was pipetted to fade out the eggshell pulverization. Distilled H2O was added to the flask until it reached about 100cm3. The flask was swirled gently. Put the solution into cubed for two yearss. Faltered the solution utilizing filter documents. Pippet out 25.00 cm3 from each solutions to titration flasks. The solution was so titrated with standardised NaOH. Repeat another two samples from each solution. Roll up the right burette readings at the terminal point. Chapter 3 6.EXPERIMENTAL Consequence 6.1THE COLOR CHANGE OF THE SOLUTION White egg Brown egg Colourless pink Colourless pink 6.2THE TITRATION RESULT OF BROWN EGG 1 2 3 Volume of eggshells solution/cm3 25.00 25.00 25.00 Volume of NaOH used/cm3 20.10 19.90 20.10 Average volume of NaOH used: ( 20.10+19.90+20.10 ) = 20.03cm33 6.3THE TITRATION RESULT OF WHITE EGG 1 2 3 Volume of eggshells solution/cm3 25.00 25.00 25.00 Volume of NaOH used/cm3 20.40 20.35 20.00 *Average volume of NaOH used: ( 20.40+20.35+20.00 ) =20.25cm33 Chapter 4 7.CLCULATIONS 7.1CALCULATIONS 2HCl ( aq ) + CaCO3 ( s ) >Ca2+ ( aq ) + CO2 ( g ) + H2O ( cubic decimeter ) + 2Cl- ( aq ) HCl ( aq ) + NaOH ( aq ) > H2O ( cubic decimeter ) + Na+ ( aq ) + Cl- ( aq ) 7.1.1 FOR BROWN EGG Number of moles of NaOH used to respond with HCl =20.03cm3 /1000 ) X2M = 40.06X 10-3 mol Since figure of moles of NaOH = figure of moles of HCl in 25cm3 =40.06 X 10-3 mol HCl mols in 100cm3 = 40.06 Ten 10-3 Ten 4 mol The initial no of moles of HCl: volume X molar concentration = 100/1000 X2M = 200X10-3 mol Number of moles of HCl used to respond with CaCO3 = ( 200X10-3 160.24X 10-3 ) mol = 39.76X10-3 mol Harmonizing to the equation, one mole of HCI required to respond with 2 moles of CaCO3, Number of moles of CaCO3 reacted =39.76X10- 3 /2 = 19.88X10-3 mol The weight of CaCO3 = 19.88X10-3g X100g The % of CaCO3 in eggshell ( brown ) = ( 1.988/2 ) X100 % =99.4 % 7.1.2 FOR WHITE EGG Number of moles of NaOH used to respond with HCl: ( 20.25cm3/1000 ) X2 = 40.50X10-3mol Since figure of moles of NaOH=number of moles of HCl in 25cm3 = 4.50X10-3mol HCl Volume in 100cm3 = 40.50 X10-3 X4 mol The initial moles of HCl: volume X molar concentration = 100/1000 X2M = 200X10-3 mol Number of moles of HCl used to respond with CaCO3: ( 200X10-3 162X10-3 ) mol = 38X10-3 mol Number of moles of CaCO3 reacted =38X10-3/2 = 19X10-3 mol The weight of CaCO3 = 19X10-3g X100 The % of CaCO3 in eggshell ( white ) = ( 1.9/2 ) X100 % =95.0 % Chapter 5 8.DISCUSSION AND CONCLUTION 8.1CONCLUSION Percentage of CaCO3 in ruddy eggshells= 99.4 % Percentage of CaCO3 in white eggshells= 95.0 % Therefore ruddy eggshells has the higher per centum of CaCO3. 8.2DISCUSSION Beginning of mistakes The eggshell pulverization did non fade out wholly Variation in ocular judgement at the terminal point Instrumental mistakes of the electronic balance The eggshell was non to the full dried Some droplets of solution may still adhere on the beaker and the glass rod which lead to the decrease in figure of moles of extra HCl In this Experiment we can besides make the EDTA titration. 9. Reference hypertext transfer protocol: //www.google.lk/search? hl=en A ; source=hp A ; q=caco3+percentage+in+eggshell A ; btnG=Google+Search A ; meta= A ; aq=f A ; oq= hypertext transfer protocol: //wwwchem.csustan.edu/chem1102/Egg.htm hypertext transfer protocol: //www.oppapers.com/essays/Determine-Percentage-Mass-Calcium-Carbonate-Eggshells/165593 hypertext transfer protocol: //ag.ansc.purdue.edu/poultry/multistate/koelkebeck1.htm

Parpgraising paragragh about phosphene and alkynyl legand Essay

Parpgraising paragragh about phosphene and alkynyl legand - Essay Example Large variety of phosphines are thus possible, while different widely available verities include 1,1’ (BINAP) and 2,2’-bis (diphenylphosphino). In such chiral systems, steric constraints come up, that can be resolved into diastereomers. While discussing reactivity of complexes belonging to phosphine ligands, two properties of these ligands are considered important. These properties relate to their steric bulk and their accepting ability, also called electron donating ability. (d-Metal OGANOMETALLIC CHEMISTRY) Like alkyl groups, alkynyl, alkenyl and aryl groups can bond to a metal form through a single carbon atom. For this property, these groups are described as â€Å"monohapto’. However, there is a possibility of each of these three groups accepting â€Å"pai† electron density into anti-bonding orbitals, although the same has not been observed, largely, so far. This can be ratified by an example, which shows little change in the stretching frequency of the triple bond in alkynyl complexes, as they attach to a metal; although â€Å"n-1 –alkynyl group† might be considered analogous to a CO group. As per d-metal organometallic chemistry noting, the displacement of halide with a lithium reagent at a metal center can make way for introduction of alkynyl groups into organometallic complexes. While looking at the donor-pair scheme of electron counting, alkynyl ligands are considered to be two-electron donors with a single negative charge. (alkenyl, alkynyl and aryl

Case Study - Writing a Management Consulting Letter to client Amanda

- Writing a Management Consulting Letter to client Amanda - Case Study Example Expansion should thus depend on social and economic factors such as consumer tastes and preferences. Through planning, Amanda and his workers can describe what they want to achieve and how they want to achieve it by providing a detailed description of how the objectives will be realized. Organizing human, physical and financial resources Amanda should develop and evaluate procedures that support the mission of the business and address specific needs. Failing to determine the best way to organize resources including personnel and resources may be a recipe for organizational failure. She should apply accepted management principles and practices that relate to personnel, financial and operational issues that directly affect the business. Having a well-written policy helps the business to address the procedures that support the needs of the business and its programs (Siobham, Morley & Forley, 2013). Human, physical, and financial resources are needed by this young firm in order to achiev e its vision and they should be strategically aligned in such a manner as to meet the organization's goals. She should realize that human, capital, and financial resources are transformational tools to an institution and enable it to achieve its functions. People who manage the business are an important component of its success and they should distinguish themselves with diligence, innovation, and dedication to the mission of the business (Robbins & DeCenzo, 2010; Shuck & Wollard, 2009). Each person should have his duty clearly defined and targets set within required timeframes to avoid laxity within the business. He should also share and develop the mission statement each time they are in a managerial meeting (Taylor, 2010). Perhaps the most difficult aspect of the organization is to handle the financial resources since there are several key components that need to be considered (Raja & Palanchamy, 2011). Leadership skills Leadership and management must go hand in hand since they a re linked together in business even though they are not the same (Perkins, 2008). Any effort by a business whether big or small to separate the two functions of a business is a recipe for failure and more problems for the business. As a manager, Amanda should plan, organize, and coordinate all the activities of the business and the same time acts as a leader by inspiring and motivating the employees of his small firm. Employees of today look at their manager as a leader and he should not assign trust but define for them a purpose in their jobs (Jackson, Meyer & Wang, 2012). She should organize workers to maximize efficiency and to nurture, develop talent and inspire results and this will ensure that the company remains effective and profitable with time (Wollard & Shuck, 2011). A leader should be in a position to provide feedback to the concerned people to avoid any mistake that is likely to occur in the course of management (Carter and Greer, 2013). Amanda should make his employees provide him with feedback concerning the nature of their duties and he should also provide them with feedback on how he manages the business. Management should clearly define goals of his team to ensure that they know what they are working to achieve and by what means and to enable them prioritize their workload. Recruitment process should be conducted in a slow but sure

Oil and The Internal Combustion Engine Essay -- Engines History Histor

Oil and The Internal Combustion Engine Our cars are powered by an obscure fuel source. The answer to this lies many decades or, more accurately, perhaps centuries ago. The inventors and pioneers such as Rudolf Diesel, Felix Wankel and Nikolaus Otto, would have never considered the fuel that they did if they knew the kind of political ramifications that it would have had on the world today. I propose, that due to this fuel source, the internal combustion engine as we know it has been a perpetual source of top-down exploitation ever since Henry Ford mass produced the first model T. At the time of the engine’s development, Gasoline (which is a derivative of oil) was cheap, plentiful and most importantly, a potentially powerful fuel. It provided smooth combustion and the ability to work hard without all of the messy details usually associated with the maintenance of farm animals. That is why the first engines were rated in ‘Horse power’ since it was a direct measure of how much work an engine could perform in relation to its animal counterpart. Jump to the present, we use internal combustion engines in our everyday lives, most notably in our cars but also when we demand electricity which was generated using engines. We depend on the work crews that cut down trees for the wood we use to build our houses. How do they do that? Answer: chainsaws, which use one kind of engine. When someone’s home is on fire, how do the firefighters extinguish the fire? Simple, they use engines that pump water into their hoses so they can put out the blaze. The list of uses that the internal combustion engine has would take up more space than this paper can allow. So, it comes as no surprise that the internal combustion engine has such a tight grip o... ...mbustion too!) The problem that Americans face is, exploitation through the use of this technology by powerful corporations and government legislation. It would seem that all of the dinosaurs keeled over and died in all of the world’s political hot spots. But actually, this â€Å"black gold† is simply sought after due to the great demand attached to it. I think that if oil were to disappear tomorrow, we would still have exploitation from powerful ethanol companies. Perhaps there is no escaping the greed for profit no matter what the fuel supply. But certainly with a ‘renewable’ fuel supply, we can fight back a little bit harder in future generations. Works Cited: 1. Money, Nov 2000, Vol.29, Issue 12, Pg. 73, Ron Insana, Daniel Yergin 2. Forbes, Nov 2000, Vol.166, Issue 13, Pg. 56, Robin Gibb 3. Fortune, Oct 2000, Vol. 142, Issue 10, Pg. 58, David Stipp

Advantages of Using Ict in Learning Process at Higher

Assignment 1 Academic Writing Skills BBB3301 NAMA : ABDUL IYAD SHUKREE MATRIC NO : UK250 COURSE : COMPUTER SCIENCE OF SOFTWARE ENGINEERING LECTURE NAME : CIK WAN NURHAFEZA WAN SALAM TOPIC : ADVANTAGES OF USING ICT IN LEARNING PROCESS AT HIGHER EDUCATION INSTITUTIONS TOPIC 1 : Higher education institution is a place where the student that past the high school with the good result gathered together. Local university or private college became a dream place for student to continue their study.Higher education institute is totally different to them compare to school life. At this stages , they will face a new place , variety of course subject and different way of teaching. If we focus on different way of teaching , Information Communication Technology (ICT) became a main role for a learning process. ICT has been chosen because of several reasons that are enables to gain information and knowledge faster and further , supports information and knowledge sharing on a large scale and save our time and cost in a learning process.ICT will continued act as a catalyst in advancing education growth and backbone to education in higher institution. As stated in â€Å"Effective Blended Learning for Development†, article by Charles Meguire and Jiping Zhang ,even the barriers of distance and time , the ICT will overcome this resistance to gain a new information and knowledge and significantly improve their accessibility. For a result , information and knowledge can be sharing faster. Besides that , ICT becomes a gold key to achieve a main goal for a higher education institution as place that provide first class learning rocess. Without worry the barriers of distance , ICT can make a students able to attend and understanding a topic in a class even do not take part in a class. According to article by Elyssa Krosski , â€Å"Advantages of online class† , by a online class or video conference, student can access and attend the online anywhere. Other than that, there are no limits for student on online class so ICT gathered a student even across a worldwide. Students today prefer to use a email or social network to exchange information and sending a message.This situation should be used as a advantage for higher education institution to attract their student interest in learning process by using an ICT. As a conclusion , ICT need to be used by a higher education institution because of the ICT enables to gain information and knowledge faster and further , support information and knowledge sharing on a huge scale and save our cost and time in a learning process. In future , ICT will be standard method to use in learning process in each education institute and not only able in university and college.At the same time , ICT need to be improve from time to time to make sure the using of ICT in learning process keep reasonable. The government need to cooperate together with academic expert to make ICT become a reality and can give a advantage to all people . Works Cited : Meguire,C. , and Zhang,J. , â€Å"Effective Blended Learning for Development† http://www. jointokyo. org/files/cms/news/pdf/s2_benefits_v7. pdf Kroski. E. , â€Å"Advantage of Online Class† 10th January 2012, http://oedb. org/library/distance-vs-local/10-advantages-to-taking-online-classes

Personal Narrative How I Became a Writer Essays - 1557 Words

I have found becoming a writer every bit as much a process as writing itself. One does not become a writer overnight but over time, and I offer the following stories as examples of some of the steps I have taken in what is proving to be a life-long process. My initiation into writing was typical of the 1960s, when I began receiving a public education at Elementary School. Writing consisted primarily of penmanship, books reports and research papers, all with highly structured formats as designated by the teacher or by the textbooks the teacher used. Our schools days were equally as structured with class time divided by subject, the major ones being English, math, science and history and the minor ones being gym class, art and music. The†¦show more content†¦At first, the idea of pairing history with English struck me the same as when I heard that the sixth grade teacher I abhorred was going to marry the third grade teacher I adored. They just didn’t go together in my mind. Then I learned that, although our stories had to be based on historical facts, we were free to take creative license with them. My imagination was sparked. Since in history class we had just finished reading about a president whose term of office was ma rked by the uncivilized behavior of his supporters (I don’t remember his name either), I decided to use this as the setting for my story. I wrote a Gone with the Wind-type tale in which the ladies attended the Inaugural Ball in beribboned hoop skirts, the men got exceedingly drunk and unruly, and the story climaxed with the smashing of the White House’s crystal punch bowl. What fun! As a result, I began experimenting with various forms of creative writing, ultimately latching onto poems as a form of self-expression that suited me. By the time I moved on to high school I was spewing poetry like water from a high pressure hose. Somewhere along the line one of my teachers suggested I enter a state-wide student poetry contest and my poem won an honorable mention. In addition to having my name printed in The Detroit News, a thrill for me, I was invited to attend a conference of all of the winners from around the state. My enthusiasm was soonShow MoreRelatedMy First Year Experience Program1134 Words   |  5 Pagesprogram focuses on helping the first year students at the university learn how to perform in the classroom and write collegiate style work. There’s no doubt that students benefit from taking these classes during their first semester of college. For me, there wasn’t high expectations at my previous school of good writing techniques and correct uses of writing tools. During the course of this semester I became a stronger writer and well prepared for the rest of my college career here at Pacific LutheranRead MoreI Am The Product Of Clark County Educational System Essay1503 Words   |  7 Pagesforte. Nevertheless, this is not to say that I could not write. Throughout the semester with the assigned reading assignments and the given practical writing exercises I have come to grasp a vague understanding, I had never been taught how to write essays correctly. I am the product of Clark County Educational system. I have always struggled through my last classes and hoped to get out of my struggles this semester. One the greatest challenges that I faced was the distinction that existed among differentRead MoreThe Most Wonderful Books : Writers On Discovering The Pleasures Of Reading1153 Words   |  5 Pagesappeared in â€Å"The Most Wonderful Books: Writers on Discovering the pleasures of Reading.† Sherman Alexie is a well-known Native American writer that publishes short stories, novels, and poetry. Out of the three narratives, I found myself connect with this story more than the others. Alexie tells us about his childhood as an Indian boy that grew up on the Rese rvation. His father was a big reader so as a kid he’s always had an interest in books and eventually it became a passion. As he advanced in readingRead MoreImportance Of Personal Writing915 Words   |  4 Pageswith writing effectively. I had absolutely no interest in learning to write, which was mostly because of how difficult it was to me. Often, I found it boring. As I got older, I found interest in music and poetry, sparking my interest to learn to write like musicians and poets. Up until that point, I had always been writing papers for school, often to write research papers or to write forced narratives. I never wrote anything for myself until about junior year in high school. I did always enjoy readingRead MoreThe Great Challenge For Marginalized Writers Essay1681 Words   |  7 Pagesseen how marginalized writers, such as women and people of color, challenge dominant cultural constructions of gender, race, and/or class in colonial America and the U.S. Perhaps these w riters challenge our ideas about dominant gender roles or racist assumptions about people that were common at the time.   Choose three writers we have studied who occupy this definition of marginalized status and discuss  the narrative strategies these writers use to challenge the status quo.   For example, how do theyRead MoreSlaves Narratives: Frederick Douglass, Olaudah Equiano Essay1477 Words   |  6 PagesSojourner Truth, Frederick Douglass, and Olaudah Equiano all have extremely interesting slave narratives. During their lives, they faced plenty of racist discrimination and troubling moments. They were all forced into slavery at an awfully young age and they all had to fight for their freedom. In 1797, Truth was born into slavery in New York with the name of Isabella Van Wagener. She was a slave for most of her life and eventually got emancipated. Truth was an immense women’s suffrage activist. SheRead MoreAnalysis Of The Poem Ekphrasis 1293 Words   |  6 P agesfilm. In ekphrasis, it is the writer s intention to create an extension of the work of art in their own writing, in the case of this essay, I ll exam specifically the work of poets whose appreciation for the visual arts has largely influenced their written word and I ll discuss closely how overtime this need to extend the artwork has led to the evolution of ekphrasis as a highly celebrated and constantly expanding form of art in its own right. How has this personal connection between two creatorsRead MoreThe Life of A Slave Girl by Harriet A. Jacobs Essay1272 Words   |  6 PagesA slave narrative is to tell a slaves story and what they have been through. Six thousand former slaves from North America told about their lives during the 18th and 19th centuries. About 150 narratives were published as separate books or articles most slaves were born in the last years of the slave regime or during the Civil War. Some Slaves told about their experiences on plantations, in cities, a nd on small farms. Slave narratives are one of the only ways that people today know about the wayRead MoreIn My Creative Nonfiction Genre Proposal, I Stated That,1571 Words   |  7 Pagesmy creative nonfiction genre proposal, I stated that, â€Å"my [creative writing project s] focus will be literary essays that address humanity’s universal desire for a sense of identity and belonging; these essays will be written from a personal perspective, containing anecdotes, internal conflicts, and external opinions† (1). A little over ten weeks later, I believe I have achieved this goal in my final draft because of the stylistic approaches and revisions I made with the help of the Creative WritingRead MoreThe Beginning Of Creative Nonfiction1517 Words   |  7 Pagescreative nonfiction is vast and diverse, spanning from the earliest known civilization to the present. This literary genre includes memoirs, essays, travel writing, and journalism. The literary essay is the mode o f creative nonfiction I have chosen for my course project, and I will address the general history of creative nonfiction, focusing on the development of the essay. The origins of this genre date back centuries before Montaigne coined the term â€Å"essay.† The beginning of creative nonfiction began

Impact Of Challenges Of Islamic Finance Example For Free - Free Essay Example

Sample details Pages: 8 Words: 2254 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Many countries in the West are optimistic in the establishment of Islamic Banking and Financial institutions in their country. The laws, although a contributing obstacle, can be overcome through further product development of sharia compliant product. Germany, U.S. Don’t waste time! Our writers will create an original "Impact Of Challenges Of Islamic Finance Example For Free" essay for you Create order and France are cases depicting the challenges that will be met with the establishment of Islamic Banking. The German Case: According to Engels, there is a significant population of Muslims in Germany and a substantial amount of investment interactions with the Muslim world. With that in mind, Germany may be interested in establishing Islamic Banks within the country. The BaFin# have had talks over the last 15 years with Islamic banking representatives from the Muslim community in Germany as well as from foreign Islamic banks looking to establish in the country. However, there has been no real action in its development and establishment. This could be attributed to the following reasons. First, the BaFin is skeptical of the Islamic banking models commercial viability as it will be catering to 2 million Muslims (p.179). Second, Islamic banking methods conflict with German Banking Act. Third, in accordance with German Banking Act, the principal of an investment must be insured. As , the basis of Islamic banks is profit and loss sharing as per the pre-determined ratio in structures such as murabaha, this may cause some form of conflict with the banking laws of the nation. Finally, Islamic banks differ in the method of reporting and monitoring of its operations from the European standard. The risk and financial standing must be identified clearly in its reports to be clearly evaluated. Despite these concerns, there areas in which Islamic financial services can flourish (Engels, 2010). According to the German banking law, in accordance with the German Banking Act KWG, there are nine types of services in which a business can entitle itself a credit institution#. The following are the nine banking activities: Deposit business Credit business Securities business Safe-custody business Investment fund business Revolving credit business Guarantee business Giro business (Engels,2010, p.181) According to Engel, Islamic financial institut ions, taking into account the restrictions placed on it by the German Banking Laws, could participate in the offering of at least 5 out of the nine the services stated above that will term it as a credit institution. Five of which are, deposits, credit, securities, safe-custody and Giro business (Engels, 2010 ,p.181) . Deposit business: In Islamic financial services, there are multiple forms of deposits as listed below: Current Deposits Wadiah and Qard Savings Deposits-Wadiah and Mudaraba Investment Deposits-Mudaraba According to the KWG 1, a deposit business means the receipt of monies from others as deposits irrespective of the payment of interest. In addition, it has viewed these deposits made to the bank as a loan in which the full amount must be paid back to the lender, in this case the customer of the bank (Engels, 2010). Based on these restrictions, Islamic financial institutions can provide current deposit services and savings deposit services in the form of wadiah , qard hassan and mudaraba deposits. As the principle amount is guaranteed whenever the customer wishes to withdraw the principle. However, Sharia compliant investment deposits will not be acceptable under the German law as there is in no guarantee on the return on the full principle. The losses incurred are shared by the bank and the customer at a predetermined ratio. Credit Business: According to the German Banking Law defines the credit business as the granting of money loans and acceptance of credits.# Under these guidelines, Islamic banking institutions can provide loans as the law does not specify the mandatory inclusion of interest rate. In accordance with the BaFin, an exchange of a cheque for cash is considered a credit business. This service is provided by the bank at a set administrative fee. Islamic institution could provide this as a part of their services. Furthermore, Islamic institutions can participate in the provision of promissory notes as they can also charge a fixed administrative fee in return for the service. The challenge lies in the ability to provide this service as the liquidity of Islamic banks are limited. In addition, if we look at it from a broader view point, the EC Directive has included the following services under the same definition mortgage loa ns, factoring with or without recourse and trade financing, of which , are not permissible. However, murabaha and musharaka structures may be taken into consideration to categorize it under the EC Directives definition of lending (Engels, 2010, pp.183-184). Other Acceptable activities: Islamic banking and financing institutions can participate in the sale and purchase of securities for their clients as long as it is riba free. They can also participate in the managing of securities for their clients. Finally, they can participate in Giro business, the administration of deposit funds for customers , with the provision of services such as , transferring amounts and the provision of clearances for a set administrative fee((Engels,2010,p.181). Overall, the restrictions stated by the German Banking Act are not obstacles that cannot be overcome. However, the issue arises when wanting to adapt Islamic banking in the EU. It may be compliant in Germany however; in order to be compli ant in Germany it must also be compliant in the EU. The move towards uniformity may act as an additional obstacle in the face of establishment. The US constitution and Islamic banking and finance controversy: The basis of the Western banking models foundation lies in practices that defy the Muslims basis of acceptable financial banking activities. Gimigliano argues, the First Amendment of the US constitution#may partake in the assimilation of the Islamic banking and finance model into the US economy as an official domestic bank. There has been a move towards the establishment of Islamic domestic banks in the US. According to Thomas Baxter, General Council and Executive Vice President of the Federal Reserve Bank of New York, for the following reasons: (a) the growing Muslim population on US Territory, able to influence the West in market economies;(b) an increasing awareness of socially responsible finance, after the Enron scandal;(c) the free exercise of religion clause law makers will need to ascertain whether some practices can be changed to accommodate Muslims who try to practice their religion freely. (Gimigliano, p.149, 2010) Based on the above, The First Amendment is divided into two parts, the free exercise and the establishment clause (p.149). The first clause protects the individual freedom to practice their religion of choice, which enforces the need in the establishment of Muslim friendly banking institutions. However, the second clause, deals with the governments actions, and its incorporation, with this respect makes it controversial, together with this point in the constitution, separation of church and state,and the neutrality theory may act as a legal and ideological obstacle in the face of its integration and acceptance(Gimigliano, p.159, 2010). According the Gimigilano, the strict separation of government and religion restricts any form of government participation even if it is in the form of assistance, including the fir e, police and public health services.It would be in violation of the separation clause. In this affect, may prevent the safeguard of freedom of practice (Gimigliano, p.150, 2010). In addition, based on the clause of neutrality, government cannot be involved in the monitoring of the activities because it will tie government with an institution tied to religious foundations. In this case, brings up the question who is the reasonable observer? It has been suggested that an educated individual can be appointed as an observer of Islamic banking activities. However, he only reasonable observer that can regulate the activities of an Islamic bank is Sharia scholars (Gimigliano, p.151, 2010). . The US constitution is the driving force towards the accommodation of faith. However, it is the preference of the US law to maintain secularism in the countrys economic activities. In the face of authorization and the limits of US jurisdiction, the establishment of an Islamic bank still has many obstacles before it can attain authorization (Gimigliano, 2010). The French and the provision of Islamic banking: Similarly, according to Arnaud, the French too are encouraging the opening of Islamic Banking in France as it will cater to the Muslim population, as well as, to the well off GCC nationals seeking ethically responsible banking institutions. At this point, acceptance has been very flexible. To gain authorization and licensing to operate in France it must comply with the basic standard that is applied to all banking institutions by the CECEI#. In fact, it has been quite accepting of foreign banking institutions opening in France. Banks originating from Muslin countries have been present in France for over three decades. For example, six Lebanese banks, four Iranian banks, two Pakistani, two Qatari banks, an Egyptian bank, a bank originating from Abu Dhabi, a Kuwaiti bank and a Jordanian bank have established themselves in France. However, despite Frances openness towards the establishment of an Islamic Bank in France, there has been no approach by the already present Middle Eastern banks to provide Sharia compliant services, nor has the CECEI been approached to formally authorize the establishment of an Islamic Bank. This brings up another underlying concern. As there has been no outspoken demand for an Islamic bank, CECEI are unsure of the actual demand for an Islamic bank. Notably, if an Islamic Bank establishes itself in France, it must prove itself a viable banking and financing institution. First, as per the CECEI rules, it must have qualified bank mangers running the operations. As it would be a new concept in France, the ability to find ex perienced figures locally will be difficult. It would have to bring expertise from abroad. In addition, these individuals too will have to be knowledgeable in French law to insure the Banks activities are compliant to the local law let alone the sharia law (Arnaud, 2010). In terms of product development, it must comply with Frances customer security close without inhibiting the ease in the operation of the bank. Its main concern is money laundering and terrorism. The Islamic banking institutions must have systems in place, approved by the CECEI, which will inhibit fraud and the misuse of funds. As the banking systems in France are based on the Western conventional model, mechanisms for the regulation of funds may need to be developed to suite the models of sharia compliant banks (Arnaud, 2010). In addition, there must be internal systems to monitor the day to day operations of the bank. The products provided to the customers must be compliant with French law. As this product r equires special oversight by sharia scholars, to insure they are compliant with the Islamic guidelines, it is noteworthy to mention that the shariah committee must be limited to that of vetting and certifying products and should not extend beyond this to interfere with the banks governance and internal operating modes.This could be related to the similarity between the US and French constitution. France, like the US is secular in nature. The accommodation of an institution thats foundations are based on Islamic principles is contrary to its constitutional foundations. Religious representation of a faith may be frowned upon by strict secularists (Arnaud, 2010, p.170). Moreover,the Islamic banks must be able to convert Islamic financial products into a mode understandable in the conventional accounting system. This is to insure that the risk factor and the required liquidity of the bank to sustain these products is clearly apparent by overseers (Arnaud, 2010). Furthermore, the S haria scholars must play the role of auditors in the day to day running of the institutions. The challenge arises with regards to the capacity and knowledge of these scholars to effectively insure the quality of the service provided (Arnaud, 2010). In regards to issues related to retail Islamic products, there are a few issues that arise due to the French laws lacking in areas that relate to qard, mudaraba and ijara. First, the French law does not have an accounting infrastructure to support loans given as advances to the bank from a customer. In this case, the customers rights are not fully protected by law. Therefore, the French law must be updated to insure that the customer is insured a deposit guarantee fund for deposits in the form of wadiah , qard hasan and mudraba in savings deposits. Second, in relation to the first point, deposits for the purpose of investment, mudarba, can no longer be defined as deposit funds as they cannot fall under the qualified to be labeled under the deposit guarantee fund.Finally, the ijara contracts for home financing must be compliant with the French consumer protection codes (Arnaud, 2010, p.172). Islamic banking institution will not receive any exceptions ender the French law in keeping with its non-discriminatory clause. The products must be sustainable and adequately structured to the specification of the law. Furthermore, these guidelines is not a hindrance to its development but, an insurance to future customers that their rights are fully protected. In that regard, Sharia compliant banking institutions have a chance to grow in France as the foundations of its operations are based on ethical practices that insure the equity and controlled risk. The intricately weaved infrastructure of Islamic Finance (IF) has shown a definitive growth in recent years and, IF has been highlighted in global trade as a means of integrating Western and Eastern banking practices for a more optimal trade regimen. Namely, laws in We stern regions including Europe and North America have shown an ability to accommodate IF guidelines, despite a perceived public ethos of resistance to Islamic ideals.