Mexican American Essay Example for Free

Mexican American Essay ?Even though we as a society live in a more liberal world as compared to life in eighteenth century or even nineteenth century, there are still people who separate themselves from people of different race, age, sex, religion because perhaps they do not handle change well. People all across their world at one point in their life time can have directly or indirectly experienced stereotypes, racism, and or discrimination. Most likely their race or ethnicity was the basis of why the experienced happened. The concept of race and ethnicity has to be established first among people to get a better understanding of the people they interact with on a daily basis. Race is a concept that is dividing people into groups or populations based on their genetic or biological appearance. A factor that people most associate this with is skin color. Then there is the concept of ethnicity that is more complicated for people to completely understand. Ethnicity is a population in which people identify themselves with by shared culture and history. This will help a person understand why people identify themselves with Mexican, Latino, Cherokee, American, German, and even African American. Personally I have dealt with and experienced stereotypes, racism, and discrimination based on my race. Stereotypes are beliefs and assumptions that are associated with individuals based on their sex, religion, race, or age that may not accurately reflect reality. Some of the stereotypes that I have come across are all Mexicans speak Spanish, all Mexicans are here illegally, illiterate, and have families of ten or more. Those are just a few stereotypes that some of my white and Asian friends have told me that quite offended me. In fact not all Mexicans speak Spanish and even though I am bilingual don’t mean people should automatically assume that every Mexican they come across will know Spanish because sometimes it is based on whether or not they learned from their parents growing up or in school. Then the part where some have said that all Mexicans are here illegally is far from being completely true. I was born here in good ole Lubbock, Texas. Yes, my mom is from Durango which is a city in Mexico but after coming here to the United States at age fourteen she became a U. S. citizen to be able to work and support her family in Mexico. There are in fact some people here illegally but that should not be reflected onto those who were born in the U. S. Not all Mexicans are illiterate because what person would not have trouble trying to read or write in another language that is not their primary language. That means that they have to take time and learn to read, write, and speak English, just like any other foreigner coming from another country. Also to address the stereotype that Mexicans have families of ten or more is not accurate. It is in the culture to have big families because sometimes it has to do with the common religion amongst Mexicans is catholic and therefore birth control is something that is frowned upon and even a sin in that religion. But usually having big families is a choice between the husband and wife; it’s not just something that is instilled within every Mexican to want big families. Moreover, racism and discrimination sort of go hand in hand with one another. Racism is when a belief that all members of a race are inferior or superior to another race. Discrimination is treatment and judgment towards a group of people based on class, age, sex, and race that they are in favor for or against. Discrimination is one I had to deal with on my first time applying for a job once I turned seventeen. I was living in Alice, Texas for the summer and I applied to a small fast food restaurant. I spoke to the manager who happens to be an older white woman on the phone about positions that were open for hire and she was more than willing to speak to me in person. I walk into the restaurant on the set date to meet and she was surprised when I told her, â€Å"Hi, my name is Addy; I am the person you spoke to on the phone about jobs†. She then quickly said, â€Å"Were fully staffed now, I am sorry† and walked off through the double doors to the kitchen. I was so upset because I knew it had to do with me being Mexican because I took a look around the restaurant and all the waitresses, cashier, and cooks were white. My dad and I had a long talk of his experiences through his life in regards of discrimination. He is going to be seventy-two this November and it is sad to know that through all those years discrimination has not disappeared. Also racism is something I currently deal with at my job at Covenant usually amongst the older generation. My position at the hospital is a phlebotomist and it typically is racist comments or even as straight forward as them saying, â€Å"Can I have Chance, the white guy? † instead of me to draw their blood. I have got to the point where it does not faze me much at work because I know I need to keep my composure and stay professional in a situation like that. Therefore, people of all ages, gender, and race have had an experience where stereotyping, racism, and discrimination were involved. Whether it was directly happening to them or indirectly where they have witnessed it happening to someone else, it still has affected their life in some way. It is how a person handles the situation that makes all the difference. Maybe one day in the near future people will be more accepting of change and differences amongst everyone that diminishes stereotypes, racism, and discrimination.

Lees Philosophy To Kill A Mock :: essays research papers

Nelle Harper Lee’s Philosophy on the Proper Treatment of Human Beings in To Kill A Mockingbird   Ã‚  Ã‚  Ã‚  Ã‚  The 1930’s were a time in which blacks faced many hardships. It was a time in which the Ku Klux Klan had its peak. However, most importantly, it was the time when Nelle Harper Lee, the writer of To Kill A Mockingbird, was being raised. She was raised in a world where “niggers'; were the bottom class in one of the most powerful countries in the world. She was also being raised during the Great Depression, a time when the attacks on blacks were intensified, as they were the scapegoats of the immense downfall of the US economy. However, she was only a small, innocent child who believed in equality for all. Thus, Harper Lee expressed her disapproval over the treatment of blacks in her Award-Winning novel, To Kill A Mockingbird, through the eyes of a fictional character called Jean Louise Finch, better known as “Scout';.   Ã‚  Ã‚  Ã‚  Ã‚  Scout, the main character in the story, grew up in Maycomb County; a fictional town in Alabama inspired by the Monroe County, Harper Lee’s hometown. Scout’s father, Atticus Finch, was a defense attorney during the Great Depression. Just like everyone in Maycomb County, his economic conditions were very poor. Judge Taylor assigns him the task of defending Tom Robinson, a married black man accused of raping the eldest daughter of Bob Ewell, the head of a family that “…had been the disgrace of Maycomb for three generations.'; As the story progresses, Scout slowly becomes introduced into the world of hatred, unfairness, and racism that the 1930’s exposed. Nevertheless, since Scout still had both her innocence and naivete, due to her premature age, she completely expressed total disapproval towards the treatment of blacks during the time of her childhood. The author portrays this disapproval through Dill and Jem, Scout’s friend, and Scout’s brother, respectively, as shown here by Dill, “‘I don’t care one speck. It ain’t right to do ‘em that way. Hasn’t anybody got any business talkin’ like that—it just makes me sick.’'; Various characters’ reactions to the verdict emphasize Lee’s feelings toward racial injustice. During the Tom Robinson trial, Atticus could not have portrayed his evidence in a more professional and convincing manner. Unfortunately, Tom Robinson was found guilty by the jury and was sentenced to death. Atticus’s son, Jem, expresses his rejection to the unfair treatment of blacks by stating, “‘How could they do it, how could they? Lees Philosophy To Kill A Mock :: essays research papers Nelle Harper Lee’s Philosophy on the Proper Treatment of Human Beings in To Kill A Mockingbird   Ã‚  Ã‚  Ã‚  Ã‚  The 1930’s were a time in which blacks faced many hardships. It was a time in which the Ku Klux Klan had its peak. However, most importantly, it was the time when Nelle Harper Lee, the writer of To Kill A Mockingbird, was being raised. She was raised in a world where “niggers'; were the bottom class in one of the most powerful countries in the world. She was also being raised during the Great Depression, a time when the attacks on blacks were intensified, as they were the scapegoats of the immense downfall of the US economy. However, she was only a small, innocent child who believed in equality for all. Thus, Harper Lee expressed her disapproval over the treatment of blacks in her Award-Winning novel, To Kill A Mockingbird, through the eyes of a fictional character called Jean Louise Finch, better known as “Scout';.   Ã‚  Ã‚  Ã‚  Ã‚  Scout, the main character in the story, grew up in Maycomb County; a fictional town in Alabama inspired by the Monroe County, Harper Lee’s hometown. Scout’s father, Atticus Finch, was a defense attorney during the Great Depression. Just like everyone in Maycomb County, his economic conditions were very poor. Judge Taylor assigns him the task of defending Tom Robinson, a married black man accused of raping the eldest daughter of Bob Ewell, the head of a family that “…had been the disgrace of Maycomb for three generations.'; As the story progresses, Scout slowly becomes introduced into the world of hatred, unfairness, and racism that the 1930’s exposed. Nevertheless, since Scout still had both her innocence and naivete, due to her premature age, she completely expressed total disapproval towards the treatment of blacks during the time of her childhood. The author portrays this disapproval through Dill and Jem, Scout’s friend, and Scout’s brother, respectively, as shown here by Dill, “‘I don’t care one speck. It ain’t right to do ‘em that way. Hasn’t anybody got any business talkin’ like that—it just makes me sick.’'; Various characters’ reactions to the verdict emphasize Lee’s feelings toward racial injustice. During the Tom Robinson trial, Atticus could not have portrayed his evidence in a more professional and convincing manner. Unfortunately, Tom Robinson was found guilty by the jury and was sentenced to death. Atticus’s son, Jem, expresses his rejection to the unfair treatment of blacks by stating, “‘How could they do it, how could they?

What Is Community Work

What Is Community Work? Through this essay I will try to create a greater understanding of the term ‘community work’. I will begin with a short summary from two studies which help define the term on a broad basis. I will follow this by an explanation of the various approaches which can be used in community work. I will highlight the importance the community and voluntary sector have in social partnership in Ireland today. I will also discuss how funding, or a lack of it, impacts on essential services. Whether or not volunteers are an essential part of community work.I will also discuss the possible consequence of losing some of these organisations as a result of cuts in funding. Finally by looking at the work of ‘Community Platform’ I will show how, through a shared vision they hope to create a better Ireland through their work in the community. To understand what community work is it is first necessary to understand the various definitions of community. Whi le this may seem apparent initially, upon closer inspection one will discover that there is no clear consensus.What we do know is that as Hillery, a sociologist working in the 1950s pointed out, all 94 definitions of community referred to people (Mayo 1994). Varley (1988) defines these more concisely into three categories. ?Communities defined in purely special or geographical term. ?Communities defined as relationships that occur within a specific locality. ?Communities defined as relationships which may occur within or transcend conventional geographical boundaries. Working within these categories community workers seek to empower individuals and groups of people by providing them with the skills they need to effect change in their own communities.We will look at detailed examples of this later. I will first explain my understanding of the five main strands or approaches identified by David A Thomas (1993) in his study of community work in the early 1980s: Community Action: this r equires people from a community to come together, recognising the problems that their community faces and taking action to reduce these problems. This approach can have a range of benefits. It helps those individuals involved to develop skills and claim ownership of the outcome. An example of this is when residents come together to campaign for speed bumps or lower speed limits in the area.Community Development: this requires people coming together to develop a range of practices to help improve local conditions, especially for people in disadvantaged situations. It helps people to participate in public decision making and thus achieve greater control of their circumstances. An example of this is when residents turn an area that was once used for anti-social behaviour into a playground for children. This creates a safer environment for local people. Social Planning: this is a process that is carried out through identifying strengths and weaknesses in a community.This is done by desi gning and implementing programmes, which help to improve the quality of life in that community. It usually involves the action of a political, legal, or recognized voluntary body. An example of this is when an area is identified as having a very large increase in children. This information is acted on and a new school is built in the area. Community Organisation involves various community or welfare agencies working with or without the involvement of statutory authorities, supporting joint initiatives.An example of this is when organisations connect through managing, sponsoring and improving the work of various bodies. This may be carried out at a local, regional or national level. Community Care primarily focuses on the area of healthcare for the disabled, the elderly and the very young. It is a model that encourages members of the community to be active participants in helping themselves. In some cases community care may use professionals in conjunction with volunteers. In other c ases volunteers may manage projects with little or no involvement from professionals.Now that we have an understanding of the various definitions of community and have explored the different approaches of community work, we will now look at the how this work is structured in Ireland today with the help of social partnership. Social partnership was set up in Ireland in 1987. Its membership was initially limited to the government, businesses, trade unions and farmers. Organisations representing the unemployed and those experiencing poverty and inequality protested that their members did not benefit from the agreements and so began to lobby to be included in the 1996 negotiations.It was decided in 2000, by the Fianna Fail government, that inclusion of community and voluntary organisations was the way forward. Eight organisations were successful in their efforts when they were selected by the Government to become the Community & Voluntary Pillar – the fourth social partnership pi llar. It is now made up of seventeen representative organisations. This pillar represents huge progress for marginalised people. Although it is important to remember that in order to make a sustainable difference the voice these organisations have been give, must be listened to.While in theory social partners can be involved in both policy making and implementation of such policy, it is argued ( Meade 2005) that because community and voluntary organisations lack economic clout, they have been granted only marginal influence over the substance of policy decisions. Popples theory in â€Å"Analysing community Work† (1995) states â€Å"Most practitioners are employed in one way or another by the state therefore acting with particular instructions or authority, so that they could be considered to be a subordinate branch of the dominant ‘organic’ intellectuals.Whilst on the other hand the fact that they can be at odds with the dominant ideology and are encouraging ind ividuals and groups to articulate their own discourse means that they do not fully agree with the dominant system. † While it is important that the government is involved and provides subsidises to the voluntary and community sector at a national and community level, it is also fair to say that participation by volunteers in the local community is equally important as they understand what the community requires at a grass roots level.As the Mayfield Community Development Project in Cork advocates, it is fundamental to ask the local people what they need, to encourage as much participation as possible. Cullen (1989) observes that participative community development projects counterbalance the bigness and the bureaucracy of state run welfare agencies. In other words, if the recipients of these services are involved, these agencies become less intimidating and more user-friendly. This approach empowers people to be involved in identifying and meeting their own needs.Although part icipation from volunteers in the local community is vital, problems can surface when local communities come to rely heavily on the support provided by these volunteers. An example of this occurred when an introduction of community care policies led to reductions in the provision of state sponsored residential care and thus increased the demands on already pressured carers. This issue is particularly relevant today due to the current economic climate. The government is seeking to cut their expenditure in many areas, including the community and voluntary sectors.An Bord Snip Nua’s proposed cuts in funding for community and voluntary organisations will effectively amount to a huge reduction in funding for essential public services. The proposed cut of 64% in the allocation for community and voluntary sector supports, will weaken community and voluntary organisation's capacity to deliver essential services to the most vulnerable people in society. Which raises the following quest ions, ? Is the government relying on volunteers too heavily? ? Is lack of funding going to break down the fabric of the community work network in Ireland? ? What are the potential consequences of the proposed cuts?Only in time, will we discover the true answers to these questions but for now let us look at the evidence that is available to us today. Undoubtedly the Governments reliance on volunteers within the community is very apparent. It is important to remember that very often we would not have these volunteers, without the recruitment strategies that are put in place by professionals. It is also crucial volunteers are monitored and get the support they need to carry out their work effectively. Without the funded professional element in community work, it is possible that the quality of service may be compromised.This may result in volunteers becoming over worked by carrying out the duties of the paid professionals. This can lead to volunteers being under too much pressure to ca rry out their vital work. A consequence of this may be the closure of much needed services, which will impact greatly on society in general. This may lead to a more segregated community with an increased level of problems such as anti-social behaviour and mental health issues to name just two. This is why in my opinion, it is essential to have both professional and voluntary workers in the community for a cohesive approach to the various issues.It is important at this point to examine the vital community work that may be affected by these cuts. I am using the organisation Community Platform as an example. This is an organisation which facilitates both community and voluntary organisations to come together through one voice at a national level. Publishing its pre-budget submission (2010), the Community Platform said that making the poor poorer in order to try to balance the books made absolutely no sense and would have disastrous and costly social consequences.Community platform curr ently has 29 members that work together to address poverty, social exclusion and inequality. Funding is provided to the Community Platform by the Department of Community, Rural ; Gaeltacht Affairs. The vision of the Community Platform is an Ireland that is inclusive, sustainable and equal. Working closely with all of its members it aims to develop and promote this vision through shared analysis. The following groups are just a small example of the essential services that come under the community platform umbrella: ?Age Action Ireland. Rape Crises Network Ireland. ?Simon Communities of Ireland. ?Womens Aid. ?Community Workers’ Co-operative. By looking at some of the essential services that Community Platform facilitate we can see just how important this community work is and the key services that may suffer because of these cuts. As a result of my studies I have ascertained that community work appears to be many things to many people. It can be a rewarding experience to both t he facilitator and the beneficiary. It can bring people together in the hope of improving circumstances for themselves or others.It can help people to achieve their goals for their community by coming together through one voice. It may be a carried out by a paid professional or a volunteer. Both of which have their own merit. Government support and funding are imperative to sustain the level of help that is needed in the community. However it is evident that when both professionals and volunteers work together, greater results can be achieved. Community work is essential in society to help improve living conditions. With an emphasis on improving the conditions of marginalised, vulnerable people. Bibliography

Performance Of Islamic Funds In The Gulf Area Finance Essay - Free Essay Example

Sample details Pages: 10 Words: 2991 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? There is a lengthened chronological association with the growth and development of traditional commercial banking practice and religious conviction. As Brown and Skully (2007) have put it, some of the earliest economic transactions commenced with the storage of gold in religious temples which expanded at a swift pace, thereby, allowing the ancient Greeks to make credit notes which were acknowledged throughout Greece. Islamic banks and financial organizations are operating in accordance with the facilitations and decrees of the Islamic Shariah law, which denies benefits by means of any form of usury. Don’t waste time! Our writers will create an original "Performance Of Islamic Funds In The Gulf Area Finance Essay" essay for you Create order Islamic banks function on the basis of sharing profits and losses with their clientele which is in contrast with the conventional banking systems, whose chief task is to intermediate by lending money at higher rates of interest than paid by the bank on funds which are set down by the borrowers, thereby, obtaining gains from the margin between the two. What is more, Islamic banks operate in facilitating money transactions as well as exchanges, whereas, the conventional banks function on the products that are purchased or sold with the use of interest as well as time. More to it, the Islamic religion forbids trade of money for money, however, allows money to be put to work, and then take part in the profits or losses which are realized (Alford, 2003) which is the base of Islamic funds. Recognized and strict banking has now been existent for nearly a thousand years, with Islamic Banking being associatively a new phenomenon as the first Islamic Bank, Mit Ghamr Local Savings Bank of Egypt , which was established in the year 1963 (Brown and Skully, 2007). However, even then, the actual development of Islamic finance did not commence until the late twentieth century when the Middle East nations went through a giant rise in surplus funds. Since that time, the Muslim investment has extensively spread all throughout Europe and Asia, while Islamic finance is yet to expand. The straight Islamic financing approaches and methods such as with the Islamic bonds  [1]  are gaining huge prominence in the West similarly as the Islamic based funds management has done so far. With time passing by, there has been an increased demand for Islamic funding provisions all across the Muslim world, chiefly, in the dearth of benefits. In order to function, Islamic bank system became dependent upon the work of Islamic law. Hence, since that time, Islamic funds system has prosperously spread all over the world, as it operated according to this pattern, and as a result, the Islamic bankin g became one of the largest established bank systems set to compete with the conventional banks (Iqbal and Molyneux, 2004). Eventually, according to Khan and Ahmed (2001), Islamic Banks possess a number of products which are compatible with the Islamic Law, such as Murabha, Musharaka, and Mudaraba (Khan and Ahmed, 2001). In 1981 the Gulf Cooperation Council (GCC) was formed in Dubai joining all six countries (Saudi Arabia, United Arab Emirates, Qatar, Oman, Kuwait and Bahrain) to reach a cooperative frame work in all fields (GCC.org). Each of the GCC nations is autonomous in terms of currency and administration. It is predictable that the entire population of this region is nearly 34 million, and the principal religion in all the nations of the Gulf Cooperation Council is Islam. The GCC nations are affluent in natural reserves, for example, oil and natural gas. The Gulf States have developed into the largest reliant export hubs for oil which is a key requirement in the global mar ket (Saif, 2009). Aims and Objectives of the Study Regardless of the increasing consideration given to Islamic mutual funds by practitioners, there has not yet been any rigorous research or analysis with regards to the performance of these funds, and how they fare in comparison with the conventional funds. Hence, through this study, we aim at the analysis of the performance of Islamic funds, investigating whether there is existent any considerable reward or penalty for investing them. This study is carried out to find out the performance of international Islamic indices with an objective to assess if the Islamic funds are perilous or safer than the pertinent benchmarks. Alongside, the key objective of this assessment is to thoroughly study the profitability of Islamic and conventional banks, keeping the GCC region under spotlight. Furthermore, the study aims to find if the Islamic funds in GCC countries outperform or underperform international Islamic indices. The final aim of the study is to find if the Islamic funds are riskier o r more safe that the relevant benchmarks. As a result, with due consideration to the increased competition between Islamic banks and the conventional banks at this point of time, chiefly, in the Muslim domain for the reason that it does not take much of the interest, this study is carried out to analyze every commotion associated with the performance of Islamic funds in the Gulf States region. However, we will also discuss about the systems brought into use in other countries. Last but not the least, a thorough assessment of the disparities between financial systems makes it a more striking and fascinating topic of discussion. Research Methodology and Data The research methodology for this study is based on the similar variables which have been taken up by studies carried out in the past on fund performance. In this dissertation, the basic Capital Asset Pricing Model (CAPM)  [2]  will be used to measure the Islamic funds performance in the GCC region by comparing each country Islamic funds with their relative market index. Coefficient of determination and t-statistics will be applied in the process by regressing the monthly excess  [3]  gain (loss) of the fund with the market monthly excess gain (loss). Other performance determination will be used in this dissertation like: (sharp ratio, Jensens Alpha, Famas Ratio and Sortino ratio). The same methodology will be applied for all the GCC Islamic funds but with a non-regional Islamic index like Dow Jones Islamic Market. The data for this research will be provided from secondary data providers. The market indexes and risk free data will be acquired from Datastream and this sec ondary data is provided through the university laps. The remaining data regarding the Islamic fund in the GCC countries will be acquired from which is also provided by the university. Structure of the Dissertation This dissertation centralizes on performance of the Islamic funds in GCC region, and has been segmented into seven chapters. The structure of this dissertation is as follows: Chapter 1 The first chapter comprises of an introduction to the research, and also introduced the research questions. The significance of understanding the performance of Islamic funds in the GCC is discussed and enlightened. Chapter 2 The second chapter provides with an overview of the Islamic Banks, conventional mutual funds and Islamic funds. This is inclusive of a general idea of the history along with the challenges they confront, and what are the fundamental rules and regulations. More to it, this section prefaces some of the most significant Islamic funds types. Chapter 3 The third section of this dissertation offers a basic concept of the economic life in the GCC, prior to the presentation of the banking industry, and the financial markets in the GCC, followed by the comparison of the evaluation. Chapter 4 This chapter offers a summary of the studies and researches that have been carried out on the performance of funds. The evaluation is not restrained to Islamic funds, but will be on both the conventional fund and the Islamic funds. Chapter 5 This section puts forward the data important for this study. Also, the attributes and features which will be brought into use in the analysis of the Islamic funds are thoroughly explained. Chapter 6 Chapter 6 explains the results and conclusions of the research, thereby, displaying the findings. Chapter 7 The last chapter confirms and discusses the outcomes of this research. In addition, it covers the section of references and bibliography that have been used. Part 2- LITERATURE REVIEW Islamic Banking: An Introduction In this time and age, Islamic Banking system is believed to be one of the premium trades in the banking industry. The industry is comprehended to be 46 years old. We can define Islamic Banking as interest-free banking that works on the exchange of profits and losses. Hence, in this chapter we will talk about the origin and history of Islamic Banking. To start with, we will compare the services that are provided by Islamic Banks along with their activities in association to those of the conventional banking systems. Following it would be a study of the history of Islamic banking, while the last segment would comprise of the acceptance and prohibition of chores in Islamic Banking, followed by the examination of loan contracts in Islamic Banks. 2.1 An introduction to the Islamic Funds The Islamic funds market is one of the swiftest growing sectors within the Islamic financial configuration. However, when they are put to comparison with the mutual fund industry as a whole, Islamic mutual funds are yet to grow up as they are in their infancy phase of development, chief of them being around for no more than a decade (Elfakhani and Hassan, 2005). Islamic funds are quite diverse for an industry which is somewhat young. It is seen that while the major part of the funds are equity funds, some 86 per cent of the total 126 funds, balanced or secured funds comprise of 14 per cent, and Islamic bond funds comprise of 2 per cent. The other three funds are currently launched (Elfakhani and Hassan, 2005). More to it, amongst the equity funds, various segments and geographical investment areas are efficiently attributed. Islamic funds have undergone tremendous development during the conclusion of the late 1990s for the reason that they efficiently benefited from the boom wit nessed in technology, where most of them delineated high positive returns which even transcended their highest targets. Their number incremented from 8 funds before 1992 to 95 funds along with approximately $5 billion in assets by the year 2000. However, it dropped to nearly $4 billion by the conclusion of 2001. It is observed that more funds have been launched ever since the year 2002, with even more striking market opportunities, and more lessons being learnt. 2.2 Rules and Principles of Islamic Investing An Islamic fund is analogous to a conventional fund in a number of ways, but, unlike its conventional foil, an Islamic mutual fund ought to obey the rules of the Shariah or the Islamic law investment notions. The principles and regulations of Islamic Banking are obtained from the Quran and words of the Prophet Mohammad. According to the Quran, there are three major practices which have been outlawed, and hence, they should not be contracted with in Islamic Banking. These three practices are Riba, in other words, interest; Maysir or Betting and Gharar or uncertainty. It is well-known amongst the Islamic territories that Riba is prohibited in Islam as it is referred to in the Quran. It is the increase on the loan, irrespective of whether it is a fixed or variable one, or for a short or long term. This is believed to have led to difficulties in the economy along with a lack of efficacy which may be as a result of the lenders suffering huge losses for having collected many of the fu nds. Also, for the reason that this enables a number of benefits to deal, it is believed to have led to the inflation of the debt pyramid in the world. On the other hand, Gharar or Uncertainty is strictly forbidden in Islam and is also referred to in the Quran. It is believed that Gharar will happen in case the seller is unaware of what he is selling, and the buyer of what he is purchasing. For that reason, there must be an exact provision and explanation in detail of what is being retailed or purchased, and the target is always to eradicate any ambiguities associated with it. The third and the last factor is Maysir or Betting, which is also strictly forbidden in Islam, which construes to gambling or speculation and betting. The reason for averting this activity is due to its mysterious behaviour, and the returns are not assuring re-entry. Hence, we can construe that all of these practices are prohibited and are not used in Islamic banking for specific advantages. The Shariah guidel ines and decrees reign over various facets of an Islamic mutual fund, which are inclusive of its asset allocation or port-folio screening, investment and trading commotions, and income dissemination or purification (Elfakhani and Hassan, 2005). 2.3 Conventional and Islamic funds (History): Islamic mutual funds represent one of the swiftest growing sectors within the Islamic financial industry. With Shariah supervision being an inseparable part of the Islamic industry, its place in association with the Islamic funds performance is undoubtedly no less significant. When picking investments for their portfolio, or asset allocation, conventional funds can autonomously choose between debt-bearing investments and profit-bearing investments, thereby, investing across the gamut of all the accessible industries. However, it is essential for an Islamic fund to set up screens in order to opt for those companies which meet its qualitative as well as quantitative criteria as set by the Shania guidelines (Elfakhani and Hassan, 2005). Also, qualitative screens are brought into use so as to sieve out companies which are based on the conduct of their business or securities which comprise of one of the Shariah forbidden components, as discussed earlier, or companies which carry out uns crupulous business practices as per Shariah law. As a result, the income implements which are barred from the Islamic-approved securities are corporate bonds, treasury bonds as well as bills, certificates of deposits, stocks, warrants, and last but not the least, some derivatives like options, etc (Elfakhani and Hassan, 2005). More to it, it is not possible for Islamic mutual funds to trade on the edge, or in other sense, it is not possible for them to use interest-paying debt to finance their investments. Moreover, it is also not acceptable to get involved in sale or repurchase agreements. These transactions are believed to be of the similar kind as the indirect interest changes. The foundation upon which an Islamic fund operates ought to be Shania compliant, or in other words, its invested funds ought to be free of interest-based debt or conjecture. It is not possible for Islamic mutual funds to trade on the edge. This means that they cannot make use of the interest-paying debt for financing investments. However, conventional funds such as hedge funds, arbitrage funds, and leveraged buy-out funds scrounge enormously in order to finance their investment commotions, and they are forbidden to Muslim investors. In contrast to the conventional mutual fund managers, it is not permissible for Islamic fund managers to speculate. An Islamic financial unit is looked forward to presume risk after making an appropriate assessment of risk with making use of the information and knowledge. Only in the lack of information or under circumstances is speculation considered to be of a kind similar to a game of opportunity, and is culpable. 2.4 Literature on Funds Performance: Earlier, mutual fund performance literature could not deal with the performance of the Islamic mutual funds industry. A study of Hajara Atta (2000) suggests that the Islamic index goes one better than a sample of unscreened ethical benchmark by bringing into use Sharpe, Treynor, and the categorical Jensen measure (Atta, 2000). A number of theoretical inferences result from the Shariah law as well as demographics of Islamic funds. Islamic mutual fund managers are prohibited in their prowess to exploit paramount information or winning markets. Nevertheless, as put by Bollen and Busse (2001), the average mutual fund manager has not been found to delineate his superior proficiencies (Bollen and Busse, 2001). As a result, the argument which is exactly opposite may also infer that Shariah law restraints the potential harm that is caused by a manager. As of December 2001, there were 105 Islamic mutual funds, of which 86 were equity finds, while 16 were balanced or secured funds. The ot her three were Islamic bond funds which were offered by the Malaysian organizations (Wilson, 2005). The Islamic funds are geographically classified with predominance given to the global equity funds. Akin to socially responsible investment, Shariah compliant investment does not entirely pursue profits. As argued by Levin (2005), such a distraction by concerns with regards to the responsibility would be disadvantageous for financial performance (Levin, 2005). These are supported by evidence that suggests standard sin stocks such as of alcohol, gambling, or tobacco, excluded by Islamic funds so as to deliver considerably positive abnormal returns. The Shariah compliance of products as well as provisions is possibly financially more advantageous in businesses, where consumers and executives go through a higher utility from obedience to the Shariah law. As a result, islamic mutual funds may experience a considerably better financial performance in principally muslim economies as comp ared to others. According to Christoffersen and Sarkasian (2009), centres which have a high density of economic intermediaries and competitors have a considerably absolute influence on the mutual funds learning profits along with their eventual financial performance. Theyve also explained the performance pertinent to being located in a financial centre with better knowledge of spill-over effects (Christoffer and Sarkasian, 2009). The patterns of Islamic funds are, perhaps, more homogeneous as compared to their conventional counterparts as a reason of the Shariah laws narrow concept of eligible commotions. Islamic funds may have comparatively lower betas than conventional, may be leveraged funds (Hoepner et al, 2010). Islamic funds also invest quite proportionally in smaller stocks, for the reason that large stocker possess a higher stake of receiving insufferable revenues from activities that are forbidden under the law. Hence, Islamic funds are expected to be more prone to growt h stocks as compared to value stocks, for a simple reason that the former is believed to possess a lower leverage in comparison to the latter (Campbell and Vuolteenaho, 2004). Nevertheless, literatures have often failed to find out a significant theoretical reason as to why Islamic funds should be more exposed to momentum and not to the contrarian investment strategies or vice-versa (Hoepner et al, 2010).