While the world seems like a very large, diverse place, it’s actually quite small. What occurs in one community can impact other communities. Throughout this discussion, you will consider globalization and the impacts of globalization on individuals and their communities. For example, advancements within technology, incorporation of communication, and access to media all occur globally, but have consequences locally. Have you stopped to consider how these aspects alter societies?
Explain globalization and the impacts of it while presenting at least three pros and three cons of these impacts. (Ideas to consider throughout the discussion include shifts in economies, cultural aspects, social interactions, and politics.)
holds the title to the leased asset, while the lessor creates the agreement with the lessee and collects the payment. The payments are then passed on to the lender. After the agreement, of a leveraged lease, if the lessee stops making payments to the lessor, then the lessor stops making payments to the financial institution (lender). This allows the lender to repossess the property. The lessor may also have the right to retain the property upon lessee default, as long as the lessor continues making payments to the lender. . Islamic Banking Islamic banking ,although a new term in India is not a new one globally. The first Islamic bank was founded in Egypt in 1963, and since then, the phenomenon has grown slowly but steadily.7Islamic banking refers to a system of banking based upon the principles of the Sharia (Islamic rulings) which prohibits the payment or acceptance of interest charges (riba) for the lending and accepting of money. Most of the principles of Islamic banking have got global acceptance and are not a completely new one. Islamic finance was practiced predominantly in the Muslim world throughout the Middle ages, fostering trade and business activities. In Spain and the Mediterranean and Baltic States, Islamic merchants became indispensable middlemen for trading activities. It is claimed that many concepts, techniques, and instruments of Islamic finance were later adopted by European financiers and businessmen. The origin of the modern Islamic bank can be traced back to the very birth of Islam when the Prophet himself acted as an agent for his wife’s trading operations. Islamic partnerships (mudarabah) dominated the business world for centuries and the concept of interest found very little application in day-to-day transactions. Principles of Islamic banking 8 Prohibition of Interest or Usury Quran is the source for principles of Islamic finance and the followers of Islam believe them to be the exact words of God as revealed to the Prophet Mohammed. These Islamic principles of finance can be narrowed down to four individual concepts. According to the first concept, both the charging and the receiving of interest are strictly forbidden. This is commonly known as Riba or Usury. Money, on its own, may not generate profits. When Riba infects an entire economy, it jeopardises the well-being of everyone living in that society. >GET ANSWER