A Comparison and Contrast of the Paleo and Vegan Diets Research Paper

A Comparison and Contrast of the Paleo and Vegan Diets - Research Paper Example The Paleo diet gets its basis on the foods that people presume early human took, and they mainly consist of fish, vegetables, meat, and fruits. It aims at creating the diet similar to the caveman. The people observing this kind of diet do not take processed foods, grain, and dairy product. According to the Paleo diet, there are minimal changes to the human DNA for the past 40000 years (Cordain, 2011). However, during these periods, human relied on hunting and gathering as a source of their food. Hence, while considering the genetic makeup of human being, the dietary needs are still the same. According to this diet, nature always governed the type of food a person consumes before the era of civilization. Using the foods that our ancestors consumed will be ideal for nourishing the body rather than using the modern processed foods since there are no changes in our body system with civilization. The diet gives priority to hunted animals or that fed natural pasture. The hunters and gatherers favored eating animal foods over those obtained from plants. Nonetheless, there is a need to consider the quality of the meat and freshness. It encourages moderate enjoyment of nuts, seeds, and fruits. Moreover, the individuals using this diet system avoid processed foods that easily cause harm to the body. The diet also eliminates grains, legume, dairy and processed foods. According to the foods in Paleo diets, it consists of foods that have low to moderate carbohydrate, enough animal protein, and high-fat content.

Victorian society Essay Example for Free

Victorian society Essay Dickens concentrates on using emotive language throughout this chapter. He does this to encourage the reader to empathise and sympathise with Oliver. For example, wretched. little companions in misery. the only friends he had ever known. And also reckless with misery these quotations emphasise just how wretched and awful Olivers childhood must have been. Throughout this chapter, Dickens challenges the charitable organisations run by the church and government. The people who ran these institutions believed that poverty is the consequence of laziness and that the dreadful conditions in which they were forced to live would inspire them to better themselves. Through this novel, Dickens tries to get across that that is not true and that poor people are real people, with real feeling and real aspirations to better themselves. Dickens concentrates on criticising Mrs. Mann, Mr. Bumble and the Board members to emphasise exactly how cruel, neglectful and hypocritical they are. He is showing Oliver to be half-starved and exploited, yet still pure at heart, to get across the point that poor people arent born with the will to be criminals, but the environments, and adverse situations, are what cause criminal behaviour. He is continually criticising these characters because he has very strong views about the neglect and exploitation of children in the society of the Victorian period. The second extract which I am going to explore, with reference to the question, is Chapter Four, entitled Chapter IV. Oliver, being offered another place, makes his first entry into public life. This chapter tells us of how Oliver is dispatched to Mr. Sowerberry, the undertaker, and how he is greeted there. The arrangements made to dispose of Oliver were that, if a tradesman, approved by the Board, was to request Oliver as an apprentice, then he should receive the boy and a sum of five pounds. At the onset of the chapter, when the Board are discussing whether or not to send Oliver to sea or not, they make a very interesting conclusion -The probability being, that the skipper would flog him to death, in a playful mood or would knock his brains out with an iron bar; both pastimes being as is pretty generally known, very favourite and common recreations among gentlemen of that class. This shows us their ignorance and misunderstanding of human nature. Also, it reveals how unfeeling and malicious those gentlemen are, because they decide that sending Oliver to sea would be a very advantageous way of providing for Oliver effectually. However, when Mr.Bumble brings Mr. Sowerberry in front of the Board, Olivers fate was changed. He was to be dispatched to Mr. Sowerberrys upon liking. This means that if the boys master can get enough work out of him without giving him too much food, then he shall have the boy for a term of years to do what he likes with. That evening Oliver was taken before the Board and informed of his fate. He was also told that if he complained or was sent back to the parish, then he was to be sent to sea, there to be drowned, or knocked on the head. This is a cruel way to threaten a young boy and just goes to show how malicious and heartless these characters are. Dickens is continuing to develop a feeling of detestation towards the Board and he criticises its members relentlessly throughout this section of the chapter. He clearly displays his dislike of this aspect of Victorian society, which allows such acts of cruelty to go unchecked Dickenss character descriptions are renowned for their effectiveness and accuracy. In this chapter, he describes Mrs. Sowerberry as a short, thin squeezed up woman with a vixenish countenance. This gives the impression of slyness and unpleasantness, which is further enforced by her pettish behaviour and also by her telling Oliver You dont mind sleeping among the coffins, I suppose you cant sleep anywhere else. It is well known that children have very active imaginations; so sleeping among coffins wouldnt inspire many pleasant thoughts into a childs mind. Yet Mrs. Sowerberry show no understanding of this and just leaves Oliver alone in a room full of coffins. This highlights the fact that the Victorians had no concept or knowledge of child development and psychology. For instance, there was no awareness of adolescence. They thought that people changed directly from children to adults. There was no understanding of the teenage years, so people were either treated as children or as adults, never teenagers. A small, quite discreet bit of Dickensian irony in this chapter is the matter of the parochial seal. It is Mr. Bumble who sheds light upon this matter. He say . the parochial seal the Good Samaritan healing the sick and bruised man. The irony meant here is very clear. Oliver symbolises the sick and bruised man yet the parish did nothing for him but make his situation worse. They didnt do anything to heal him after his traumatic childhood at the hands of Mrs. Mann. If anything they treated him even more appallingly. Dickenss use of emotive language in this chapter is for much the same purpose as in the last chapter. He aims to create an even greater feeling of sympathy towards Oliver. Quotations such as with tears of real agony and Oliver piteous and helpless look increase the readers sympathetic feeling towards him. In this extract I think Dickens was concentrating on making the reader see how badly Oliver is neglected and mistreated by adults. He also uses this chapter to further criticise the behaviour of the Board members and also the behaviour of Mrs. Sowerberry. Dickens is again demonstrating how he detests the ways in which the adults inflict cruelty and neglect upon their young charges, and are allowed to get away with it because of the state of society at that time. Charles Dickens was only twenty-four years old when he wrote Oliver Twist. Yet in it, he effectively and comprehensively criticises Victorian society for its hypocrisy and the way in which it allowed poverty-stricken children, like Oliver, to be the victims of adult cruelty, neglect and exploitation. To do this, he uses his skilful character descriptions throughout the novel. For example, in Chapter Two, the Board members are described as the fat gentlemen and Oliver and his companions are described as suffering the slow tortures of slow starvation. This is implicitly emphasises to show the greed of the gentlemen, to the point where they have twice as much food as they need and their workers have less than half of what they need. He also uses ironic authorial comments throughout the novel, which are an effective way of emphasising his own views on Victorian society. Examples of this can be found throughout the book and Dickens has made his views perfectly clear to his readers. Another way in which he criticises Victorian society is in his direct, open criticisms of the unpleasant ways in which the adult characters treat Oliver. In Chapter Two, Oliver is asked if he said his prayers every night -like a Christian. And Dickens says, at length, that it would have been marvellously good if he had done so but he hadnt, because nobody had taught him. Other more discreet techniques of communicating his criticisms can be found throughout the novel. Firstly, the titles of the chapters display ironic tendencies. For example, Chapter two is entitled Treats of Oliver Twists growth, education and board. Yet from reading the chapter, anyone can tell that his childhood was far from a treat, unless being locked in a cupboard on your ninth birthday for being hungry could be considered a treat. Thus it can be assumed that Dickens was being ironic when naming the chapter.

Risk Management of Commercial Bank in Malaysia

Risk Management of Commercial Bank in Malaysia Introduction 1.0 Introduction According to Bank Negara Malaysia, Malaysia banking system is divided into 3 main groups which are; 1) monetary institution comprising the Central Bank (Bank Negara), commercial and Islamic financial institutions; 2) non- monetary institutions namely merchant banks, credit and insurance companies, and development banks; and 3) foreign banks representative offices and offshore banks. Prior to the 1997 financial crisis, Malaysia had thirty seven commercial banks, forty finance companies and twelve merchant banks. However, after the financial crisis 1997, most of the banks has consolidation through mergers and acquisitions to strengthening of these financial institutions has result in thirty – five licensed commercial banks, thirty – one finance banks and twelve merchant banks. As to date, there are only twenty – two licensed commercial banks and fourteen merchant banks in Malaysia. (Shanthi Kandiah, 2009) (Table 1) However, among the twenty two licensed commercial banks only nine of the commercial banks are local bank and the rest of thirteen commercial banks are foreign banks. From the nine local commercial banks out of eight banks listed in Bursa Malaysia are: Malayan Banking Berhad, Hong Long Bank Berhad, Public Bank Berhad, Affin Bank Berhad (under Affin Holding Group), Alliance Bank Berhad (under Alliance Financial Group Berhad), Ambank Berhad ( under AMMB Holding Berhad), Eon Bank Berhad (under Eon Capital Berhad) and lastly CIMB Bank Berhad. (under Bumiputra- Commerce Holdings Berhad) while Rhb Bank Berhad, is currently not listed in the Bursa Malaysia. (Table 2) Table 2: List of Local Commercial Banks in Malaysia After the financial crisis 1997, significant numbers of bank had bankrupt or were merged with other financial institutions, which proven that, the failure of bank is due to their failure in managing their liquidity risk properly. In other words, during the financial crisis a lot of banks were incapable to provided sufficient amount of money to meet the current need of their investors. As thus, banks had said as to failure to managing their risk properly because do not have enough money liquidity in banks to meet the demand of their investors. From another perspective, big bank may not always be better because increase in organisation may present more problems than it. Bank have found that to survive it is more necessary to have a leading market share in a variety of businesses rather than just having a lot of assets or a huge capital. Thus, proper management of risk related to assets and capital market among bank is crucial. If the bank was able to assess the risk at an early stage, then the bank may be able to plan for appropriate action to be taken to reduce risk before it occurred. 1.1 Risk Management in Banking Sector Driven by the increasing complexity of doing business, risk management has become an important and integral part of the company’s internal control and governance in order to achieve its plans and objectives. In other words, risk management refers to the methods and processes used by organizations to manage risks (or seize opportunities) related to the achievement of their objectives. ( Azlan Amran, Abdul Manaf Rosli Bin and Bin Che Haat Mohd Hassan, 2009) Risk management in general involves identifying; assessing, responding, prioritizing then risk followed by minimization of risk and control the probability of risk. Risk management is entering into many aspects of banking business such as increased attention and concern must be given to ensure the risk under control. Ideally, risk management in the banking sector is to reduce the risk to the minimum. For example, credit approval, the officer can reduce this risk through measure the ability to pay back by customer before approved the credit. In facing the challenge of global financial environment, banking sector is required to implement integrated risk management systems. (Rajna, 1999) They are required to identify their current risk exposure such as market risk. It is a necessary risk-reducing tool to promote long-term profitability and stability of the banks and enhance the competitive advantage of banks. If a bank has right risk management systems that can effectively capture the risk exposures, there is an opportunity for them to lower their capital charges. As a result, proper risk management practice is essential for banks to maintain competitiveness over the long run. Lastly, to manage the risk in banking sector, first the banks need to identify the risk. The risk related to banking consists of credit risk, market risk; interest rate risk, foreign risk, liquidity risk and operation risk. Risk identification is the first stage of risk management. This mean that, banks need to correctly identify the risk such as market risk of the risk expose because it helps to develop basis for next steps analysis and control of risk management. (Lubka Tchankova, 2002) 1.2 Risk Management Disclosure in Banking Sector The purpose of risk management disclosure is to allow financial analysts, shareholders, creditors, clients and any interested parties to rely on minimal standards of quality and consistency in the risk management policies of financial firms. Greater promote transparency of risk management could benefit investors. Increased transparency is considered in the numerous explanations offered in the finance literature for the willingness of firms to voluntarily disclosure complete and timely information. This is said to be benefit investors as they need comprehensive risk information if they are to completely understand the bank’s risk profile. Risk is an unavoidable element of any business venture, especially for banking sector. In addition to financial risk, a company is also susceptible to business risk or changes in the overall economic climate that can adversely affect the price of its securities. Hence, it is in the stakeholders’ best interest that risk be disclosed in a timely manner. (Azlan Amran, Abdul Manaf Rosli Bin and Bin Che Haat Mohd Hassan, 2009) Disclosure of risk management is to promote a more robust financial system. Moreover, can help to promote and maintain a sound financial system by strengthening the incentives for sound risk management within financial institutions and by improving the information which financial institutions use to make credit allocation decisions to the corporate sector. (Rajna Gibson, 1999) Normally, those banks with better disclosure will tend to attract more investor to invest, or clients more willing to place their money in the bank. Besides that, the disclosure of risk management helps to reduces information asymmetry. Investors and shareholder would be able to justify the risk position of the bank through the disclosure of respective financial information. This also can help them to justify whether the manager is acting on the interests of the company. Besides that, disclosure of risk facilitates supervision and reduces monitoring costs. Public disclosures of risk in banks annual report enable the management to foresee the potential problems; therefore can plan to reduce risk in advance, thus it save the monitoring cost indirectly. (Philip, 2005) It is argued that banks that disclose greater amounts of useful risk information would benefit from a reduction in their cost of finance as the providers of funds will be in better position to judge the bank’s risk level and this will remove the need for them to incorporate a risk premium within the cost of capital. (Linsey and Shrives, 2005) 1.3 Types of Risk in Banking Sector Risk of the banking sector can be varied and widely difference across the banking institution. Generally the risk for banks business can classified into five popular categories: credit risk, interest rate risk, foreign exchange risk, liquidity risk, and operating risk. 1. Credit risk Credit risks the most important risk categories in banking. Risk that due to the borrower unable to repay back to the banks. In order word, credit risk is the bank borrower fail to meet its obligations in accordance with agreed terms and conditions. The aim of credit risk management is to maximize a bank’s risk- adjusted rate of return by maintaining credit risk exposure within acceptable boundary. (Catherine Soke Fun Ho, 2009) Bank Negara Malaysia (2009), credit risk continues to remain the largest source of risk for banking institutions in Malaysia. This is due to the fact that a banking institution’s loan portfolio is typically the largest asset and the major source of revenue. 2. Interest rate risk Interest rate risk is one of the market risks. It is the effect of changes in market interest rate levels on the profitability of the bank. Increases in interest rates may lead to higher profits, lower profits, or no change in bank profiles. While the risk due to changes in interest rates has always been a possibility, this source of risk was not considered to be serious as long as interest rates were stable. Changes in interest rates can damage the bank’s profitability by increasing its cost of funds, lowering its returns on earning assets, and reducing the value of the owners’ investment. 3. Foreign exchange risk (Forex) Risk associate with the loss in the exchange of the currency. Foreign exchange risk is the loss being incurred because of being party to a foreign currency transaction or holding a foreign currency changes. For extreme cases, it may involve blocking of convertibility. 4. Liquidity risk Liquidity, or the ability to fund increases in assets and meet obligations as they come due, is crucial to the ongoing viability of any banking organization. Therefore, managing liquidity is among the most important activities conducted by banks. Sound liquidity management can reduce the probability of serious problems. Indeed, the importance of liquidity transcends the individual bank, since a liquidity shortfall at a single institution can have system-wide repercussions. (Basel, Feb 2000) 5. Operating risk This is refers to the risk of losses or unexpected expenses associated with fraud, check kiting, and litigation. According to Bank Negara 2009, large corporate experience of the failures due to fraud and lapses in internal controls has focused greater attention on improving operational risk management in banking institutions. 1.4 Problem Statements Driven by increase competitive in business environment today, risk management is required to be disclosed in financial statements of the companies in complying with FRS 132. However, there is an issue where a lot of companies are not willing to disclose additional voluntary information in the financial statements. As they worry valuable information is available to their rivals and creates competitive disadvantages. Radiah Otman (2009), firm may not like to disclose extensive information that might have future repercussions for their bare existence due to sensitivity of such information. This is one of the problem which investors or others interested parties do not have extensive information to evaluate banks financial performance. Apart from it, he also said that interest rate disclosure was favored as compared to credit risk among the market risks categories. 1.5 Research Question The purpose of this study is to determine the extent to which commercial banks are providing risk management disclosure (qualitative information) suggested under FRS 132. Thus, the specific research questions are: Research question 1: Which type of risk more likely to be disclosed by commercial banks in Malaysia? Research question 2: Do commercial banks provided additional voluntary disclosure? Research question 3: Do the commercial banks in Malaysia disclose financial risk management objectives and policies? 1.5 Objective of the Study The general objective of this study is to examine whether the commercial bank in Malaysia complying with the general risk management guideline that provide by the FRS 132. However, the objective is broken down as below; a) To examine which type of risks are more likely to disclosed by the commercial banks in Malaysia. b) To make the comparison among commercial banks to the extent of the information disclosed in the financial statement. Whether information disclosed is voluntary information or mandatory information. c) To examine whether the commercial banks in Malaysia disclosure financial risk management objectives and policies. d) To examine whether the commercial banks in Malaysia comply with Financial Reporting Standards in Malaysian. 1.6 Conclusion After the financial crisis 1997 and also Enron scandals, it is increased need for the demand of more risk management disclosure. Risk management plays an important role in the global financial sector. Banking sector is inherently involved in risks and these risks need to be managed. Inherent risks are the risk that due by economic environment. Bank is highly exposed to this risk, as so the effective risk management is crucial. It is important for banks to release risk information to the marketplace that enables stakeholders to assess its risk profile. Disclosure of risk in financial statement able to help investors have a better understanding on how firm value is affect by risk exposure, this also can help to reduce information asymmetry between banks, investors and other stakeholders. One of the major problems here is that some companies are not willing to disclose more extensive information in their annual reports as they worry that the information is quantifiable to their competitors. Besides that, when the cost of disclosure is higher than the benefit, they will choose not to disclose the risk information. Thus, this study is to undertake which type of risk is most likely to be disclosed by commercial banks in Malaysia and examine whether the information disclosed is moderately or voluntary disclosed additional information. This study also evaluates the level of compliance among banks in Malaysia, and whether the banks disclosed financial risk management objectives and policies. 2.0 Introduction Prior to British colonial in Malaysia, accounting in Malaysia more emphasis on the recognize expenditure and revenue rather than recognize income. As after the British colonial and the accounting development and structure change over time there is increasing important for the issue such as recognition, measurement, and accountability. However, the accountants prepare the accounting reports is more emphasis on the shareholder needs. This mean they tend to alter the reports to the amount of income at which their shareholder desired in order to attract more investors. Therefore, sometime the annual reports do not actually reflect the fact of the financial position of the company. As for this reason, accounting standards play important roles to ensure that the annual report of the company is complying with the standard that are required. Companies registered in Malaysia must comply with the Company Act 1965. The Act prescribes the preparation of general purpose financial reports by certain categories of companies, and this preparation is subject to regulations from several sources. The provision of information is essential for decision maker such as investors, creditors and interested parties. However, there is a need for regulations and monitoring to ensure that the information provided to such users is reliable and unbiased. As for financial institution in Malaysia the key players in the financial reporting environment consist of Companies Commission of Malaysia; Central Bank; Securities Commission, and Malaysia Accounting Standards board (MASB). 2.1.0 Companies Commission of Malaysia All companies that incorporated under Company Act 1965 are regulated by Companies Commission of Malaysia. The Act requires certain companies, such as public listed companies or private limited companies, to prepare financial statements in accordance with approved accounting standards. Among other functions, CCM monitors compliance with accounting standards and the Company Act 1965. This involves investigating companies that do not comply with accounting standards. The function CCM includes: * enhancement and promotion of the supply of business and corporate information; * acting as agent of the Government and providing services in collecting and enforcing payment of prescribed fees; * regulating matters relating to corporations, companies and business. * encouraging and promoting proper conduct amongst directors, secretaries and other officers of a corporation The Companies Commission has played an active role in the accounting profession and the Malaysian Accounting Standards Board (MASB). Coordinated efforts are undertaken by the profession together with the Companies Commission and the MASB to identify issues that impact the financial and reporting environment. 2.1.1 Central Bank Bank Negara Malaysia is the central bank of Malaysia. The main objectives are to issue currency and maintain reserves in order to safeguard the value of the currency; Act as a banker and financial adviser to the Government; promote monetary stability and a sound financial structure; and influence the credit situation to the advantage of the country. Apart from that, Bank Negara Malaysia also responsible for regulates and supervise the financial system in Malaysia. 2. 1.2 Banking and Financial Institutions Act 1989 (BAFIA) Banking and Financial Institutions Act 1989 (BAFIA) is one of the legislations to regulate and supervise the financial system. The objective of the Banking Financial Institutions Act, 1989 (BAFIA) is to provide new laws for the licensing and regulation of the institutions carrying on banking, finance company, merchant banking, discount house and money-broking business, for the regulation of institutions carrying on certain other financial businesses, and for the matters incidental thereto or connected therewith. BAFIA was introduced to provide for an integrated supervision of the Malaysian financial system and also to provide the Central Bank with the power to speedily investigate and prosecute, if necessary any illegal activities in an attempt o reduce white-collar crime. 2.1.3 Securities Commission (SC) Securities commission was set up under the Securities Commission Act 1993. The function of the Securities Commission is to promote a strong and healthy securities market and to maintain the confidence of investors in line with the provisions of the Securities Commission Act and the Securities Industries Act 1983. SC also regulates the corporate sector, particularly the listed companies. Company that listed in bursa Malaysia required filing detailed annual reports with the Commission. The period of the financial report date and the issue date must not exceed six months. The annual reports must be audited. The public companies are required to maintain a high standard of financial disclosure in order to provide the public with the information that is necessary to make informed investment decisions. The SC played a significant role in the establishment of the Financial Reporting Act 1997 and continues to be involved in the Malaysia Accounting Standards Board (MASB). The function of the SC included: * supervising exchanges, clearing houses and central depositories; * regulating all matters relating to securities and future contracts, unit trust schemes, take- over and mergers of companies; * encouraging self – regulation; * approving authority for corporate bond issues; * licensing and supervising all licensed persons; * ensuring proper conduct of market institutions and licensed persons. The SC has since 1996 embarked on three phase shift towards a Disclosure Based Regulation (DBR). With effect from 2001, it has embarked on a full DBR focus with requirements of high standards of disclosure, due diligence and corporate governance. Disclosure is crucial to investors who wish to invest or who have invested in securities sp that their investment decision process can be facilitated. Due diligence is a process undertaken by companies in disclosing information, to ensure that all information disclosure in full, timely and accurate. Corporate governance is the process and structure used to direct and manage the business and the affairs of the company towards enhancing business prosperity and corporate accountability with the ultimate objective of realizing long- term shareholder value, whilst taking into account the interests of other stakeholders. 2.1.4 Malaysia Accounting Standards Board (MASB) The Financial Reporting Act 1997 establishes the Financial Reporting Foundation (FRF) and the Malaysian Accounting Standards Board (MASB). The main functions of the FRF are to provide the financing arrangements for the operations of the MASB, and review the MASB performance. MASB is an independent authority to develop and issue accounting and financial reporting standards in Malaysia. The main functions of the MASB are to: * issue new accounting standards as approved accounting standards; * review, revise or adopt as approved accounting standards existing accounting standards; * issue statements of principles for financial reporting; * sponsor or undertake development of possible accounting standards; * conduct such public consultation as may be necessary in order to determine the contents of accounting concepts, principles and standards; * develop conceptual framework for the purpose of evaluating proposed accounting standards; * make such changes to the form and content of proposed accounting standards as it considers necessary. The MASB together with the Financial Reporting Foundation (FRF) make up the framework for financial reporting in Malaysia. 2.2.0 FRS132 Disclosure Requirements In Malaysia, Bank Negara Malaysia’s and Financial Reporting Standards’ requirements act as quality control measures for bank to comply in respect of their disclosure contents of their risk in the annual report. FRS 132 (IAS 32) Financial Instruments – Disclosure and Presentation shall apply for annual periods beginning on or after 1January 2006. FRS 132 should be read in the context of its objective and the Basis for Conclusions, the Framework for the Preparation and Presentation of Financial Statements. In this study, FRS will take as the guideline to examine the level of compliance among banks in Malaysia to the extent of risk information disclosed. According to paragraph 56 of FRS132 Financial Instruments – Disclosure and Presentation, there is a specific requirement that an entity shall describe its financial risk management objectives and policies, including its policy for hedging each main type of forecast transaction for which hedge accounting is used. Similarly paragraph 58 of FRS132 Financial Instrument specifies that an entity shall disclose a description of hedge; nature of risk being hedged, and a description of the financial instruments designated as hedging instruments and their fair values at the balance sheet date. For each type of market risk such as interest rate risk, an entity shall disclose information about its exposure to interest rate risk, including effective interest rates and maturity dates (or contractual re-pricing). On the other hand, for credit risk an entity shall disclose the amount that best represents its maximum credit risk exposure as at balance sheet date, without taking into account of the fair value of any collateral, in the event of other parties failing to perform their obligations under financial instruments, and significant concentration of credit risk. 2.2.1 Foreign Exchange Risk Disclosure Format When hedging instruments held or issued by an entity, either individually or as a class, creates a potentially significant exposure to the foreign exchange, commodity and interest rate risks. Their terms and conditions that warrant disclosure are: the principal, stated face value, for derivative such as IRS, forwards and future contracts; date of maturity, early settlement option held by either party to the instrument, including the period in which, or date at which, the options can be exercised and the conversion or exchange ratio. 2.2.2 Interest Rate Risk Disclosure Format The carrying amount of financial instruments exposed to interest rate risk may be presented in tabular form, grouped by those that are contracted to mature or be re-priced in the following periods after the balance sheet date. It can be one year or less; in more than one year but not more than two years; in more than two years but not more than three years; in more than three years but not more than four years; in more than fours but not more than five years; and more than five years. Interest rate information may be disclosed for individual instruments, or weighted average rates or a range of rates may be presented for each class of financial instrument. 2.2.3 Credit risk Disclosure Format The disclosure of the financial assets exposed to credit risk shall include the carrying amount of the assets in the balance sheet, net of any provisions for loss. For example, in the case of an IRS carried at fair value, the maximum exposure to loss at the balance sheet date is normally the carrying amount because it represents the cost, at current market rates, of replacing the swap in the event of default. Besides that, a financial asset subject to legally enforceable right of set-off against a financial liability shall be disclosed. It is intriguing to learn that even though MASB advise companies to disclose liquidity risk but no format has been suggested to date. 2. 3.0 Definition of commercial banks In the early days, commercial banks were commonly known as exchange banks because their business was concentrated mainly in the financing of external trade. This involved primary transactions in foreign exchange, such as remitting and receiving funds to and from abroad, and trading in commercial bills, including the short- term financing of foreign trade. Commercial banks are defined as â€Å"any person who carries on bank business†, under the Banking Act, 1973. Banking business means the business of receiving money on current or deposit account, paying and collecting checks drawn by or paid by customers, and making advances to customers, and include such other business as the Central Bank, with the approval of the Finance Minister, may prescribe. However, definition under the Banking and Finance Institution Act, 1989 (BAFIA) is almost the same as the definition under Banking Act, 1973 in which a bank can be defined as â€Å"individual or organizations† whom operates the business of banking such as receiving deposits for current account, saving account, making payment and receiving customers’ checks and other financing. Today, all the operations in the banking industry are governed by BAFIA, 1989. It is developed to replace the Finance Company Act, 1969 as well as the Banking Act, 1973. The introduction of the BAFIA is intended to provide an integrated supervision of the Malaysian financial system and to modernize and streamline the laws relating to banking and banking institutions. 2.2.1 History of Commercial Banks Commercial banks worldwide are mostly owned by private sectors. They are formed as a business organization with the objective to make profits. In their early establishment in Malaysia, commercial banks have played an important role in the transaction and development in the industry of commerce. The business was mainly focused in financing the overseas business transactions such as foreign exchange (in term of sending and receiving money to and from other countries) and also financing in the short- term markets. The main focus on external transaction was due to the development of economy sector especially in the import and export. Moreover, the business operations at that time were run by the branches with the supervision of their head office in overseas. The first bank branch in Malaysia was Charted Mechantile Bank, in 1959. The bank’s head office was initially in India, and then shifted to London and lastly China. Later, when the economy has developed drastically, there were more foreign bank branches. Today, the traditional practice of the banking industry in Malaysia has progressed. An important feature in the development of banking is the growing of locally incorporated foreign and domestic banks. BAFIA came into force on October 1, 1989 the domestic bank were required to formally exchange their licenses for new ones issued under BAFIA. The foreign banks, however, were given a time period of five years (up to October, 1994) to exchange their licenses in view of the provision requiring them to incorporate locally. The growth of locally incorporated banks marked a significant change in commercial banking in the country which prior to the 1970’s was dominated by foreign banks. As at the end of 1959, there were then only 8 domestic as compared to 18 foreign banks. After 1982, foreign banks had been restricted from opening new branches in Malaysia in line with the policy to encourage the growth and development of domestic banks, particularly the expansion of the branch network into the rural areas. As at December 1996, there are a total of 37 commercial banks with a total branch network of 15 Risk Management of Commercial Bank in Malaysia Risk Management of Commercial Bank in Malaysia Introduction 1.0 Introduction According to Bank Negara Malaysia, Malaysia banking system is divided into 3 main groups which are; 1) monetary institution comprising the Central Bank (Bank Negara), commercial and Islamic financial institutions; 2) non- monetary institutions namely merchant banks, credit and insurance companies, and development banks; and 3) foreign banks representative offices and offshore banks. Prior to the 1997 financial crisis, Malaysia had thirty seven commercial banks, forty finance companies and twelve merchant banks. However, after the financial crisis 1997, most of the banks has consolidation through mergers and acquisitions to strengthening of these financial institutions has result in thirty – five licensed commercial banks, thirty – one finance banks and twelve merchant banks. As to date, there are only twenty – two licensed commercial banks and fourteen merchant banks in Malaysia. (Shanthi Kandiah, 2009) (Table 1) However, among the twenty two licensed commercial banks only nine of the commercial banks are local bank and the rest of thirteen commercial banks are foreign banks. From the nine local commercial banks out of eight banks listed in Bursa Malaysia are: Malayan Banking Berhad, Hong Long Bank Berhad, Public Bank Berhad, Affin Bank Berhad (under Affin Holding Group), Alliance Bank Berhad (under Alliance Financial Group Berhad), Ambank Berhad ( under AMMB Holding Berhad), Eon Bank Berhad (under Eon Capital Berhad) and lastly CIMB Bank Berhad. (under Bumiputra- Commerce Holdings Berhad) while Rhb Bank Berhad, is currently not listed in the Bursa Malaysia. (Table 2) Table 2: List of Local Commercial Banks in Malaysia After the financial crisis 1997, significant numbers of bank had bankrupt or were merged with other financial institutions, which proven that, the failure of bank is due to their failure in managing their liquidity risk properly. In other words, during the financial crisis a lot of banks were incapable to provided sufficient amount of money to meet the current need of their investors. As thus, banks had said as to failure to managing their risk properly because do not have enough money liquidity in banks to meet the demand of their investors. From another perspective, big bank may not always be better because increase in organisation may present more problems than it. Bank have found that to survive it is more necessary to have a leading market share in a variety of businesses rather than just having a lot of assets or a huge capital. Thus, proper management of risk related to assets and capital market among bank is crucial. If the bank was able to assess the risk at an early stage, then the bank may be able to plan for appropriate action to be taken to reduce risk before it occurred. 1.1 Risk Management in Banking Sector Driven by the increasing complexity of doing business, risk management has become an important and integral part of the company’s internal control and governance in order to achieve its plans and objectives. In other words, risk management refers to the methods and processes used by organizations to manage risks (or seize opportunities) related to the achievement of their objectives. ( Azlan Amran, Abdul Manaf Rosli Bin and Bin Che Haat Mohd Hassan, 2009) Risk management in general involves identifying; assessing, responding, prioritizing then risk followed by minimization of risk and control the probability of risk. Risk management is entering into many aspects of banking business such as increased attention and concern must be given to ensure the risk under control. Ideally, risk management in the banking sector is to reduce the risk to the minimum. For example, credit approval, the officer can reduce this risk through measure the ability to pay back by customer before approved the credit. In facing the challenge of global financial environment, banking sector is required to implement integrated risk management systems. (Rajna, 1999) They are required to identify their current risk exposure such as market risk. It is a necessary risk-reducing tool to promote long-term profitability and stability of the banks and enhance the competitive advantage of banks. If a bank has right risk management systems that can effectively capture the risk exposures, there is an opportunity for them to lower their capital charges. As a result, proper risk management practice is essential for banks to maintain competitiveness over the long run. Lastly, to manage the risk in banking sector, first the banks need to identify the risk. The risk related to banking consists of credit risk, market risk; interest rate risk, foreign risk, liquidity risk and operation risk. Risk identification is the first stage of risk management. This mean that, banks need to correctly identify the risk such as market risk of the risk expose because it helps to develop basis for next steps analysis and control of risk management. (Lubka Tchankova, 2002) 1.2 Risk Management Disclosure in Banking Sector The purpose of risk management disclosure is to allow financial analysts, shareholders, creditors, clients and any interested parties to rely on minimal standards of quality and consistency in the risk management policies of financial firms. Greater promote transparency of risk management could benefit investors. Increased transparency is considered in the numerous explanations offered in the finance literature for the willingness of firms to voluntarily disclosure complete and timely information. This is said to be benefit investors as they need comprehensive risk information if they are to completely understand the bank’s risk profile. Risk is an unavoidable element of any business venture, especially for banking sector. In addition to financial risk, a company is also susceptible to business risk or changes in the overall economic climate that can adversely affect the price of its securities. Hence, it is in the stakeholders’ best interest that risk be disclosed in a timely manner. (Azlan Amran, Abdul Manaf Rosli Bin and Bin Che Haat Mohd Hassan, 2009) Disclosure of risk management is to promote a more robust financial system. Moreover, can help to promote and maintain a sound financial system by strengthening the incentives for sound risk management within financial institutions and by improving the information which financial institutions use to make credit allocation decisions to the corporate sector. (Rajna Gibson, 1999) Normally, those banks with better disclosure will tend to attract more investor to invest, or clients more willing to place their money in the bank. Besides that, the disclosure of risk management helps to reduces information asymmetry. Investors and shareholder would be able to justify the risk position of the bank through the disclosure of respective financial information. This also can help them to justify whether the manager is acting on the interests of the company. Besides that, disclosure of risk facilitates supervision and reduces monitoring costs. Public disclosures of risk in banks annual report enable the management to foresee the potential problems; therefore can plan to reduce risk in advance, thus it save the monitoring cost indirectly. (Philip, 2005) It is argued that banks that disclose greater amounts of useful risk information would benefit from a reduction in their cost of finance as the providers of funds will be in better position to judge the bank’s risk level and this will remove the need for them to incorporate a risk premium within the cost of capital. (Linsey and Shrives, 2005) 1.3 Types of Risk in Banking Sector Risk of the banking sector can be varied and widely difference across the banking institution. Generally the risk for banks business can classified into five popular categories: credit risk, interest rate risk, foreign exchange risk, liquidity risk, and operating risk. 1. Credit risk Credit risks the most important risk categories in banking. Risk that due to the borrower unable to repay back to the banks. In order word, credit risk is the bank borrower fail to meet its obligations in accordance with agreed terms and conditions. The aim of credit risk management is to maximize a bank’s risk- adjusted rate of return by maintaining credit risk exposure within acceptable boundary. (Catherine Soke Fun Ho, 2009) Bank Negara Malaysia (2009), credit risk continues to remain the largest source of risk for banking institutions in Malaysia. This is due to the fact that a banking institution’s loan portfolio is typically the largest asset and the major source of revenue. 2. Interest rate risk Interest rate risk is one of the market risks. It is the effect of changes in market interest rate levels on the profitability of the bank. Increases in interest rates may lead to higher profits, lower profits, or no change in bank profiles. While the risk due to changes in interest rates has always been a possibility, this source of risk was not considered to be serious as long as interest rates were stable. Changes in interest rates can damage the bank’s profitability by increasing its cost of funds, lowering its returns on earning assets, and reducing the value of the owners’ investment. 3. Foreign exchange risk (Forex) Risk associate with the loss in the exchange of the currency. Foreign exchange risk is the loss being incurred because of being party to a foreign currency transaction or holding a foreign currency changes. For extreme cases, it may involve blocking of convertibility. 4. Liquidity risk Liquidity, or the ability to fund increases in assets and meet obligations as they come due, is crucial to the ongoing viability of any banking organization. Therefore, managing liquidity is among the most important activities conducted by banks. Sound liquidity management can reduce the probability of serious problems. Indeed, the importance of liquidity transcends the individual bank, since a liquidity shortfall at a single institution can have system-wide repercussions. (Basel, Feb 2000) 5. Operating risk This is refers to the risk of losses or unexpected expenses associated with fraud, check kiting, and litigation. According to Bank Negara 2009, large corporate experience of the failures due to fraud and lapses in internal controls has focused greater attention on improving operational risk management in banking institutions. 1.4 Problem Statements Driven by increase competitive in business environment today, risk management is required to be disclosed in financial statements of the companies in complying with FRS 132. However, there is an issue where a lot of companies are not willing to disclose additional voluntary information in the financial statements. As they worry valuable information is available to their rivals and creates competitive disadvantages. Radiah Otman (2009), firm may not like to disclose extensive information that might have future repercussions for their bare existence due to sensitivity of such information. This is one of the problem which investors or others interested parties do not have extensive information to evaluate banks financial performance. Apart from it, he also said that interest rate disclosure was favored as compared to credit risk among the market risks categories. 1.5 Research Question The purpose of this study is to determine the extent to which commercial banks are providing risk management disclosure (qualitative information) suggested under FRS 132. Thus, the specific research questions are: Research question 1: Which type of risk more likely to be disclosed by commercial banks in Malaysia? Research question 2: Do commercial banks provided additional voluntary disclosure? Research question 3: Do the commercial banks in Malaysia disclose financial risk management objectives and policies? 1.5 Objective of the Study The general objective of this study is to examine whether the commercial bank in Malaysia complying with the general risk management guideline that provide by the FRS 132. However, the objective is broken down as below; a) To examine which type of risks are more likely to disclosed by the commercial banks in Malaysia. b) To make the comparison among commercial banks to the extent of the information disclosed in the financial statement. Whether information disclosed is voluntary information or mandatory information. c) To examine whether the commercial banks in Malaysia disclosure financial risk management objectives and policies. d) To examine whether the commercial banks in Malaysia comply with Financial Reporting Standards in Malaysian. 1.6 Conclusion After the financial crisis 1997 and also Enron scandals, it is increased need for the demand of more risk management disclosure. Risk management plays an important role in the global financial sector. Banking sector is inherently involved in risks and these risks need to be managed. Inherent risks are the risk that due by economic environment. Bank is highly exposed to this risk, as so the effective risk management is crucial. It is important for banks to release risk information to the marketplace that enables stakeholders to assess its risk profile. Disclosure of risk in financial statement able to help investors have a better understanding on how firm value is affect by risk exposure, this also can help to reduce information asymmetry between banks, investors and other stakeholders. One of the major problems here is that some companies are not willing to disclose more extensive information in their annual reports as they worry that the information is quantifiable to their competitors. Besides that, when the cost of disclosure is higher than the benefit, they will choose not to disclose the risk information. Thus, this study is to undertake which type of risk is most likely to be disclosed by commercial banks in Malaysia and examine whether the information disclosed is moderately or voluntary disclosed additional information. This study also evaluates the level of compliance among banks in Malaysia, and whether the banks disclosed financial risk management objectives and policies. 2.0 Introduction Prior to British colonial in Malaysia, accounting in Malaysia more emphasis on the recognize expenditure and revenue rather than recognize income. As after the British colonial and the accounting development and structure change over time there is increasing important for the issue such as recognition, measurement, and accountability. However, the accountants prepare the accounting reports is more emphasis on the shareholder needs. This mean they tend to alter the reports to the amount of income at which their shareholder desired in order to attract more investors. Therefore, sometime the annual reports do not actually reflect the fact of the financial position of the company. As for this reason, accounting standards play important roles to ensure that the annual report of the company is complying with the standard that are required. Companies registered in Malaysia must comply with the Company Act 1965. The Act prescribes the preparation of general purpose financial reports by certain categories of companies, and this preparation is subject to regulations from several sources. The provision of information is essential for decision maker such as investors, creditors and interested parties. However, there is a need for regulations and monitoring to ensure that the information provided to such users is reliable and unbiased. As for financial institution in Malaysia the key players in the financial reporting environment consist of Companies Commission of Malaysia; Central Bank; Securities Commission, and Malaysia Accounting Standards board (MASB). 2.1.0 Companies Commission of Malaysia All companies that incorporated under Company Act 1965 are regulated by Companies Commission of Malaysia. The Act requires certain companies, such as public listed companies or private limited companies, to prepare financial statements in accordance with approved accounting standards. Among other functions, CCM monitors compliance with accounting standards and the Company Act 1965. This involves investigating companies that do not comply with accounting standards. The function CCM includes: * enhancement and promotion of the supply of business and corporate information; * acting as agent of the Government and providing services in collecting and enforcing payment of prescribed fees; * regulating matters relating to corporations, companies and business. * encouraging and promoting proper conduct amongst directors, secretaries and other officers of a corporation The Companies Commission has played an active role in the accounting profession and the Malaysian Accounting Standards Board (MASB). Coordinated efforts are undertaken by the profession together with the Companies Commission and the MASB to identify issues that impact the financial and reporting environment. 2.1.1 Central Bank Bank Negara Malaysia is the central bank of Malaysia. The main objectives are to issue currency and maintain reserves in order to safeguard the value of the currency; Act as a banker and financial adviser to the Government; promote monetary stability and a sound financial structure; and influence the credit situation to the advantage of the country. Apart from that, Bank Negara Malaysia also responsible for regulates and supervise the financial system in Malaysia. 2. 1.2 Banking and Financial Institutions Act 1989 (BAFIA) Banking and Financial Institutions Act 1989 (BAFIA) is one of the legislations to regulate and supervise the financial system. The objective of the Banking Financial Institutions Act, 1989 (BAFIA) is to provide new laws for the licensing and regulation of the institutions carrying on banking, finance company, merchant banking, discount house and money-broking business, for the regulation of institutions carrying on certain other financial businesses, and for the matters incidental thereto or connected therewith. BAFIA was introduced to provide for an integrated supervision of the Malaysian financial system and also to provide the Central Bank with the power to speedily investigate and prosecute, if necessary any illegal activities in an attempt o reduce white-collar crime. 2.1.3 Securities Commission (SC) Securities commission was set up under the Securities Commission Act 1993. The function of the Securities Commission is to promote a strong and healthy securities market and to maintain the confidence of investors in line with the provisions of the Securities Commission Act and the Securities Industries Act 1983. SC also regulates the corporate sector, particularly the listed companies. Company that listed in bursa Malaysia required filing detailed annual reports with the Commission. The period of the financial report date and the issue date must not exceed six months. The annual reports must be audited. The public companies are required to maintain a high standard of financial disclosure in order to provide the public with the information that is necessary to make informed investment decisions. The SC played a significant role in the establishment of the Financial Reporting Act 1997 and continues to be involved in the Malaysia Accounting Standards Board (MASB). The function of the SC included: * supervising exchanges, clearing houses and central depositories; * regulating all matters relating to securities and future contracts, unit trust schemes, take- over and mergers of companies; * encouraging self – regulation; * approving authority for corporate bond issues; * licensing and supervising all licensed persons; * ensuring proper conduct of market institutions and licensed persons. The SC has since 1996 embarked on three phase shift towards a Disclosure Based Regulation (DBR). With effect from 2001, it has embarked on a full DBR focus with requirements of high standards of disclosure, due diligence and corporate governance. Disclosure is crucial to investors who wish to invest or who have invested in securities sp that their investment decision process can be facilitated. Due diligence is a process undertaken by companies in disclosing information, to ensure that all information disclosure in full, timely and accurate. Corporate governance is the process and structure used to direct and manage the business and the affairs of the company towards enhancing business prosperity and corporate accountability with the ultimate objective of realizing long- term shareholder value, whilst taking into account the interests of other stakeholders. 2.1.4 Malaysia Accounting Standards Board (MASB) The Financial Reporting Act 1997 establishes the Financial Reporting Foundation (FRF) and the Malaysian Accounting Standards Board (MASB). The main functions of the FRF are to provide the financing arrangements for the operations of the MASB, and review the MASB performance. MASB is an independent authority to develop and issue accounting and financial reporting standards in Malaysia. The main functions of the MASB are to: * issue new accounting standards as approved accounting standards; * review, revise or adopt as approved accounting standards existing accounting standards; * issue statements of principles for financial reporting; * sponsor or undertake development of possible accounting standards; * conduct such public consultation as may be necessary in order to determine the contents of accounting concepts, principles and standards; * develop conceptual framework for the purpose of evaluating proposed accounting standards; * make such changes to the form and content of proposed accounting standards as it considers necessary. The MASB together with the Financial Reporting Foundation (FRF) make up the framework for financial reporting in Malaysia. 2.2.0 FRS132 Disclosure Requirements In Malaysia, Bank Negara Malaysia’s and Financial Reporting Standards’ requirements act as quality control measures for bank to comply in respect of their disclosure contents of their risk in the annual report. FRS 132 (IAS 32) Financial Instruments – Disclosure and Presentation shall apply for annual periods beginning on or after 1January 2006. FRS 132 should be read in the context of its objective and the Basis for Conclusions, the Framework for the Preparation and Presentation of Financial Statements. In this study, FRS will take as the guideline to examine the level of compliance among banks in Malaysia to the extent of risk information disclosed. According to paragraph 56 of FRS132 Financial Instruments – Disclosure and Presentation, there is a specific requirement that an entity shall describe its financial risk management objectives and policies, including its policy for hedging each main type of forecast transaction for which hedge accounting is used. Similarly paragraph 58 of FRS132 Financial Instrument specifies that an entity shall disclose a description of hedge; nature of risk being hedged, and a description of the financial instruments designated as hedging instruments and their fair values at the balance sheet date. For each type of market risk such as interest rate risk, an entity shall disclose information about its exposure to interest rate risk, including effective interest rates and maturity dates (or contractual re-pricing). On the other hand, for credit risk an entity shall disclose the amount that best represents its maximum credit risk exposure as at balance sheet date, without taking into account of the fair value of any collateral, in the event of other parties failing to perform their obligations under financial instruments, and significant concentration of credit risk. 2.2.1 Foreign Exchange Risk Disclosure Format When hedging instruments held or issued by an entity, either individually or as a class, creates a potentially significant exposure to the foreign exchange, commodity and interest rate risks. Their terms and conditions that warrant disclosure are: the principal, stated face value, for derivative such as IRS, forwards and future contracts; date of maturity, early settlement option held by either party to the instrument, including the period in which, or date at which, the options can be exercised and the conversion or exchange ratio. 2.2.2 Interest Rate Risk Disclosure Format The carrying amount of financial instruments exposed to interest rate risk may be presented in tabular form, grouped by those that are contracted to mature or be re-priced in the following periods after the balance sheet date. It can be one year or less; in more than one year but not more than two years; in more than two years but not more than three years; in more than three years but not more than four years; in more than fours but not more than five years; and more than five years. Interest rate information may be disclosed for individual instruments, or weighted average rates or a range of rates may be presented for each class of financial instrument. 2.2.3 Credit risk Disclosure Format The disclosure of the financial assets exposed to credit risk shall include the carrying amount of the assets in the balance sheet, net of any provisions for loss. For example, in the case of an IRS carried at fair value, the maximum exposure to loss at the balance sheet date is normally the carrying amount because it represents the cost, at current market rates, of replacing the swap in the event of default. Besides that, a financial asset subject to legally enforceable right of set-off against a financial liability shall be disclosed. It is intriguing to learn that even though MASB advise companies to disclose liquidity risk but no format has been suggested to date. 2. 3.0 Definition of commercial banks In the early days, commercial banks were commonly known as exchange banks because their business was concentrated mainly in the financing of external trade. This involved primary transactions in foreign exchange, such as remitting and receiving funds to and from abroad, and trading in commercial bills, including the short- term financing of foreign trade. Commercial banks are defined as â€Å"any person who carries on bank business†, under the Banking Act, 1973. Banking business means the business of receiving money on current or deposit account, paying and collecting checks drawn by or paid by customers, and making advances to customers, and include such other business as the Central Bank, with the approval of the Finance Minister, may prescribe. However, definition under the Banking and Finance Institution Act, 1989 (BAFIA) is almost the same as the definition under Banking Act, 1973 in which a bank can be defined as â€Å"individual or organizations† whom operates the business of banking such as receiving deposits for current account, saving account, making payment and receiving customers’ checks and other financing. Today, all the operations in the banking industry are governed by BAFIA, 1989. It is developed to replace the Finance Company Act, 1969 as well as the Banking Act, 1973. The introduction of the BAFIA is intended to provide an integrated supervision of the Malaysian financial system and to modernize and streamline the laws relating to banking and banking institutions. 2.2.1 History of Commercial Banks Commercial banks worldwide are mostly owned by private sectors. They are formed as a business organization with the objective to make profits. In their early establishment in Malaysia, commercial banks have played an important role in the transaction and development in the industry of commerce. The business was mainly focused in financing the overseas business transactions such as foreign exchange (in term of sending and receiving money to and from other countries) and also financing in the short- term markets. The main focus on external transaction was due to the development of economy sector especially in the import and export. Moreover, the business operations at that time were run by the branches with the supervision of their head office in overseas. The first bank branch in Malaysia was Charted Mechantile Bank, in 1959. The bank’s head office was initially in India, and then shifted to London and lastly China. Later, when the economy has developed drastically, there were more foreign bank branches. Today, the traditional practice of the banking industry in Malaysia has progressed. An important feature in the development of banking is the growing of locally incorporated foreign and domestic banks. BAFIA came into force on October 1, 1989 the domestic bank were required to formally exchange their licenses for new ones issued under BAFIA. The foreign banks, however, were given a time period of five years (up to October, 1994) to exchange their licenses in view of the provision requiring them to incorporate locally. The growth of locally incorporated banks marked a significant change in commercial banking in the country which prior to the 1970’s was dominated by foreign banks. As at the end of 1959, there were then only 8 domestic as compared to 18 foreign banks. After 1982, foreign banks had been restricted from opening new branches in Malaysia in line with the policy to encourage the growth and development of domestic banks, particularly the expansion of the branch network into the rural areas. As at December 1996, there are a total of 37 commercial banks with a total branch network of 15

Dostoevsky and Psychology :: Biography Biographies Essays

Dostoevsky and Psychology "A sick man's dreams are often extraordinarily distinct and vivid and extremely life-like. A scene may be composed of the most unnatural and incongruous elements, but the setting and presentation are so plausible, the details so subtle, so unexpected, so artistically in harmony with the whole picture, that the dreamer could not invent them for himself in his waking state. . . "1 Fyodor Dostoevsky's remarkable insight into the psychology of man is seen here in the development of Raskolnikov's dream on the beating of a horse by drunken peasants. The dream is significant on several planes, most notably in the parallel of events in the dream with Raskolnikov's plan to murder the old pawnbroker. It also serves as perhaps the most direct example of the inseparable tie between events of the author's life with the psychological evolution of his protagonists, as well as lesser characters, through the criminal minds of Raskolnikov, Rogozhin, Stavrogin, and Smerdyakov, and into the familial relationships of The Brother's Karamazov.2 Traditional interpretation of literature from a psychoanalytic standpoint has relied extensively upon the work of Sigmund Freud. In the case of Dostoevsky, however, this method is both anachronistic and inadequate. Dostoevsky's great works, considered individually or holistically, though fictional, established him as one of the forefathers of psychoanalysis, and a predecessor to Freud.3 Indeed Freud himself acknowledged that "the poets" discovered the unconscious before he did,4 stating further in a letter to Stefan Zweig, "Dostoevsky 'cannot be understood without psychoanalysis- i.e., he isn't in need of it because he illustrates it himself in every character and every sentence.'"5 There is, however, a complementary relationship between Dostoevsky and Freud brought about through the striking clinical accuracy of psychological traits exhibited both individually in Dostoevsky's characters, as well as in reflecting the author's own mental processes. Thus, it is necessary first to exami ne Freud as a point of departure before looking at modern alternatives of psychoanalytical method. Freud on the Oedipus complex Epileptic seizures plagued Dostoevsky throughout the last thirty-four years of his life, occurring about once a month on average, and consisting of "A brief, intensely exalted, premonitory sensation, loss of consciousness, convulsions, and a lingering depression with vague feelings of criminal guilt for three to eight days."6 Freud delves into the psychological roots of this illness in his essay "Dostoevsky and Parricide", calling into question Dostoevsky's "alleged epilepsy". "It is highly probable", he states, "that this so-called epilepsy was only a symptom of his neurosis and must accordingly be classified as hystero-epilepsy- that is, as severe hysteria.

Web And Media Technologies Platform Health And Social Care Essay

The WMTP is one of the spouses in the Zisukhanyo Schools Project that is funded by an Irish charity, the Protea Education Development Project. This undertaking provides computing machine labs and support services to three schools: Eastville, Liesbeeck and Mitchell Heights Primary Schools in Mitchell ‘s Plain, South Africa over a period of three old ages. The function of WMTP in this undertaking is to present three wellness publicity intercessions[ 3 ]to educate and raise consciousness on HIV among the participating schools.BackgroundHIV and AIDS have reached epidemic proportions in most parts of sub-Saharan Africa and have therefore become globally important in the broader wellness environment. By 1997, 20.8 million HIV and AIDS instances were recorded in this part ; this constitutes two-thirds of the planetary sum of people populating with AIDS for that twelvemonth ( Paul-Ebhohimhen, Poobalan & A ; Van Teijlingen, 2008 ) . It is, nevertheless, the impact of the pandemic on striplings ‘ wellness that causes much more concern. Bankole ( 2008 ) estimates that 4.3 % of immature adult females and 1.5 % of immature work forces aged between 15 to 24 old ages were populating with HIV at the terminal of 2005. Current estimations are that half of all new instances of HIV infection occur in people under the age of 25 and that 80 % of AIDS instances worldwide are between 15 and 24. In the same survey it was reported that really immature striplings ( ages 12-14 ) are already going sexually active. In the above-named survey it was found that although these immature people had cognition of HIV and contraceptive method, they earnestly lacked the in-depth apprehension on these subjects that could perchance forestall them from undertaking HIV and other sexually familial infections, or going pregnant. Therefore, it is important to convey the right information to these immature people before they become sexually act ive. The overpowering grounds suggested that aiming striplings as a bad group for preventive intercessions at the right phase should go a critical portion of any scheme reacting to HIV and AIDS. With this in head the WMTP developed its attack to steer the HIV intercessions for the Zisukhanyo Schools Project.Our attackThe PPKTM was developed and refined by the WMTP over several old ages ( Van Zyl & A ; Mattheyse, 2007 ) and its rules provide ongoing counsel for the execution of the HIV Prevention and Education Events. High-level rules include to: set up a relationship of trust with the mark communities transportation accurate information on HIV and AIDS in a manner that it is understood and impacts on the life styles of communities empower members of the communities, through instruction, with HIV cognition and accomplishments that they in bend can circulate to the wider community affect engagement of non-government administrations ( NGOs ) and community-based administrations ( CBOs ) to promote ownership of the cognition sharing events by the communities. perform ongoing monitoring and rating of intercessions. This attack farther intends to steer the scholars towards purposes of behaviour alteration as demonstrated with the overall subject to develop youth leading. Harmonizing to Mahat G et Al ( 2007 ) purposes of behaviour alteration can further efficaciously be achieved through authorising attacks such as equal instruction. The attack relies on the wellness belief theoretical account ( Rosenstock, 1966 ) which suggests that if a individual has a desire to avoid unwellness or to acquire good ( value ) and the belief that a specific wellness action would forestall unwellness ( anticipation ) , so a positive behavioral action will be taken. Groups of parents and pedagogues have undergone two equal pedagogues ‘ classs and another is planned for 2010.Intervention implemented in the Zisukhanyo Schools Project 2008-2010The 2008-2010 Zisukhanyo Schools Project insofar as it relates to HIV, comprised of three intercessions: HIV Prevention and Education Events to raise consciousness on HIV and AIDS on appropriate yearss in the South African calendar such as Youth Day and Women ‘s Day every bit good as the planetary World AIDS Day. The mark groups are the broad school community: all the scholars and pedagogues every bit good as sing parents and invitees. Three events take topographic point at each school for each undertaking twelvemonth.Summary of 2009 studyThe WMTP ‘s attack to these intercessions was based on old ages of experience in carry oning appropriate eHealth research in the application of a Peer to Peer Knowledge Transfer Model ( PPKTM ) for community wellness publicity intercessions. HIV events were organised at each of the three take parting schools: Liesbeeck, Eastville, and Mitchell Heights Primary Schools, on three outstanding yearss in the South African calendar, viz. , Youth Day, Women ‘s Day and World AIDS Day during 2009. The intercession aimed to enable the mark groups to go knowing on HIV bar, which harmonizing to the Health Belief Model theory, would take to purposes of behaviour alteration. The overall subject for the events was â€Å" Develop our young person, the leaders of tomorrow † . Four aims were identified with pre-determined indexs to mensurate the extent to which the purpose of this intercession was met. All these aims were either met or exceeded. Consequences showed a entire addition of 11 % in scholars ‘ HIV cognition and a 17 % addition in their cognition on HIV leading. The 2nd aim indicated that the pedagogues intended to recycle the stuffs which were supplied to them for the events, in their instruction of Life Orientation in school. There was an addition in the attending of parents at the events, particularly where they had heard of the event on the wireless beforehand during the particular proclamations that were broadcast in the preamble taking up to the event. The concluding aim, to construct a platform for HIV cognition sharing and networking among the mark groups, was besides met as measured by four of the indexs. Recommendations for the concluding twelvemonth include that results from all three HIV intercessions should be integrated where possible to derive optimal benefits. Emphasis should be placed on the sharing of HIV bar schemes with scholars, every bit good as encouraging of parents ‘ engagement. The wireless run plays an built-in function to prosecute the wider community and should be maintained. The overall subject, of making young person leaders, should besides be expanded upon. This is driven by research grounds that communities are much more likely to go sceptered to alter their behavior when information and behavior alterations are advocated by members from within their little community and the fact that learners rely to a great extent on their friends as a beginning of cognition on the subjects of safe sex and HIV. A Peer Educators ‘ Course taking to develop pedagogues and parents as HIV equal pedagogues who would take part in the HIV Prevention and Education Events and community enterprises. One class attended by pedagogues from all the schools is presented per twelvemonth for the continuance of the undertaking rhythm.Summary of 2009 studyThe Peer Educators ‘ Course is a cognition merchandise that was developed to construct capacity on HIV among pedagogues. The class is presented yearly to pedagogues and parents of the Zisukhanyo Schools Project. These consequences refer to the September 2009 class presented to parents and pedagogues of the Zisukhanyo Schools Project in Mitchell ‘s Plain and the Intshayelelo Primary School in Khayelitsha, South Africa. Quantitative information analyses showed that 37 % of the pedagogues who attended the class taught Life Orientation, the acquisition country where HIV is addressed in the South African course of study. The norm of the pedagogues ‘ experience in learning the topic was nine old ages. Many of these pedagogues do non hold the assurance, accomplishments or cognition to educate primary school scholars on HIV and AIDS or discourse sensitive subjects such as sex instruction. Yet, they do gain the importance of sharing cognition of these subjects with their scholars. The class proved to be a great aid to the participants with statistically important betterments in all countries after the class. There was a 54 % addition in HIV cognition and a 40 % addition in accomplishments development to discourse sensitive issues with scholars. Further analyses were conducted through categorising and aggregating qualitative informations which showed that pedagogues ‘ outlooks before the class ( 46 % ) were largely related to factors which came from outside the schoolrooms, such as the assorted cultural backgrounds of scholars and the general ignorance of society sing AIDS. Before the preparation, 51 % of participants arrived with an outlook of increasing their HIV cognition and 26 % of beef uping their educational accomplishments in these countries. All the participants commented after the class that their outlooks of the class had either been met, or exceeded. A notable observation was the greater figure of parents ‘ attending. Their increased inv olvement implies more HIV equal pedagogues to go active in the greater community. The consequences serve to show that the preparation class is an effectual tool to construct capacity of these important accomplishments and cognition among participants to enable them to move as HIV equal pedagogues in circulating HIV cognition and educating these communities which have been badly affected by the HIV epidemic. By utilizing pedagogues and parents at schools as members from within this community, the cognition has a much higher opportunity of conveying about the needed behavior alterations ( Hilfinger et al 2009 ) .HIV/AIDS eLearning UndertakingDuring the first undertaking twelvemonth ( September 2008 to May 2009 ) , Eastville Primary School in Mitchells Plain was selected to take part with an Irish school, Wesley College in Dublin to undergo in-depth eLearning on different facets of HIV. After the eLearning stage, conducted in a unafraid country of the AfroAIDSinfo Web portal, scholars from both schools sub-divided into little groups with two South African and two Iri sh scholars in each group. These scholars collaborated via an email treatment forum to develop HIV booklets as end product of their cognition consumption. The Collaborative eLearning Undertaking is considered by the MRC as an advanced intercession on cognition transportation and sharing. The purpose of this intercession is to reassign cognition on HIV and AIDS to South African ( SA ) and Irish scholars through the technique of eLearning. The undertaking was initiated in response to the high prevalence of HIV in South Africa and four aims were identified for the undertaking. These aims included: proviso of dependable HIV cognition ; utilizing Information and Communication Technologies for cognition sharing ; enabling communicating between two schools ; and development of a cognition merchandise ( brochure/pamphlet ) by scholars as an result of the eLearning and cognition sharing undertaking. It was the first chance for scholars from both states to be exposed to eLearning. Information and Communication Technologies ( ICTs ) to which scholars were exposed included electronic mail, the Web, hunt engines and a listserv ( email treatment forum ) . An online questionnaire which measured HIV cognition degrees of scholars involved was implemented before and after the intercession. A comparative analysis of the informations on scholars HIV cognition degrees showed an addition of 20.9 % for SA and 17.4 % for Irish scholars. Further analysis revealed an addition of 26.1 % for SA and 23.2 % for Irish scholars in the usage of ICTs. The minimum difference between the two groups reflected that the Irish scholars had better IT skills than their opposite numbers based on their old exposure to ICTs. There were two inquiries in the post-questionnaires that scholars completed after the programme intercession which focused on bridging socio-economic and cultural divides. Both the Irish and South African scholars scored more than 50 % on bridging the cultural barriers. These consequences were supported by qualitative analysis where both SA and Irish scholars made self-generated remarks on get the better ofing cultural barriers. During the collaborative stage the scholars developed HIV booklets in group work as a merchandise of their HIV cognition consumption during the Collaborative eLearning Project. All the groups submitted booklets and received base on balls Markss. The scholars reported the collaborative group work and interaction as the high spot of the programme intercession where 67 % of the SA and 85 % of the Irish scholars mentioned how much they enjoyed and benefited from the intercession. An Irish scholar said â€Å" I greatly enjoyed the undertaking. It opened my eyes to the universe ‘s jobs with AIDS/HIV. I besides learned a batch about the south African civilization and people through speech production with my spouses through electronic mail. † A South African scholar commented â€Å" I enjoyed it really much, it was merriment I liked being portion of this undertaking. I learned more about computing machines and to populate a healthy life style. When I grow up and run into person I will be faithful to him and condomise. † The two groups were guided through the HIV/AIDS eLearning Undertaking by pedagogues who submitted regular milepost studies. For the pedagogues it was the first clip that they were exposed to eLearning and it was a learning procedure with many challenges for them every bit good. The Irish pedagogue mentioned in his concluding study â€Å" I would extremely urge the coaction stage as it allows a existent dimension to the undertaking and sets it apart from other topics a pupil might take at school. † A concluding word from the South African pedagogue was â€Å" my scholars afterwards excelled in Life Orientation appraisals where they were tested on gender and HIV/AIDS and I attribute it to the HIV/AIDS eLearning Undertaking. †Suggested HIV intercessions for the drawn-out undertakingBased on the successful execution of the 2008-2010 Zisukhanyo Schools Project, the undermentioned recommendations are made for the extension of the undertaking: Settings attack: The drawn-out undertaking insofar as it relates to the HIV and AIDS intercessions, will be managed harmonizing to a wellness publicity scenes attack. A settings attack for schools is selected as a school is considered a little community with its ain civilization and is a wellness advancing environment in its ain right ( Naidoo & A ; Wills, 2009 ) . A holistic bottom-up authorization and educational attack will be followed. The intercession aims to systematically consequence alterations in wellness and societal wellbeing for the whole community based on participative planning. A Highly positive societal and wellness instruction activities will authorise scholars to take control over their lives.A Empowerment of scholars as persons and as a group intends to ruffle alteration throughout the school setting.A Outcomes include: Improved self esteem among scholars, moving as agents to act upon the community ; Development of HIV cognition, accomplishments and assurance among scholars ; A supportive and caring community ; School community influenced to take healthy life styles. Interventions are: HIV Prevention and Education Events: These are suggested to be continued on three selected yearss during the class of a twelvemonth at each school as they are the chief channels to raise consciousness on HIV and AIDS. Based on the aims of wellness publicity, extra efforts will be made to authorise the school community to develop HIV cognition, accomplishments and assurance to better their wellness ( Naidoo & A ; Wills, 2009 ) . In a societal context, self-pride will be developed through assorted group activities to enable scholars to do independent determinations for positive wellness action ( Wallerstein, 2002 ) . As a personal resource, empowerment develops power and assurance in persons for proactive stairss towards personal wellbeing ( Ottawa Charter, 1986 ) . The other intercessions listed below are introduced to back up this intercession. Peer Educators ‘ Course: Different customised equal pedagogues ‘ classs are suggested for pedagogues, parents and scholars. Our current class for pedagogues has been modified for community members and will be more suited for presentation to parents. A customised class will be developed and presented to youth leaders as a continuance of an overarching subject to develop young person leaders in an HIV context. The primary focal point will be pedagogues and scholars with some for parents during the complete undertaking rhythm. These classs intend to lend to the cognition, accomplishments and assurance of participants to move within the school community as agents to reassign HIV cognition, create supportive environments for larning and engagement – taking to swear, authorization and community spirit.HIV/AIDS eLearning Undertaking:A research survey will predate the first Extended Zisukhanyo Schools Project eLearning to compare schoolroom larning to eLearning, organizing portion of the initial Zisukhanyo Schools Project 2008-2010 between SA/Irish eLearning scheduled to get down in May 2010. Funders: Protea Schools Development Project ( eLearning constituent ) ; MRC, WCED and SA Dept of Treasury ( schoolroom constituent ) . Two suggestions for eLearning are proposed: That the South African schools participate in the eLearning intercession as a group ( 8 schools each in their second undertaking twelvemonth ) . These intercessions should non take topographic point until all the schools have computing machine labs and received computing machine literacy preparation. Alternatively one of the first eight schools participates in their second undertaking twelvemonth with an Irish school ; and one of the following eight schools participates in their second undertaking twelvemonth with an Irish school. The specific intercession will be implemented harmonizing to the discretion of the funder. The budget below is presented in one-year format.Proposed budgetYear 1 – 20108 schoolsMRCFunderProject direction, disposal, scientists R 300A 000,00 R 300A 000,001 ) HIV Peer Educators ‘ Course( 1 for pedagogues and 1 for scholars @ 40 participants each ) Peer Education class, statistical analysis, study authorship, refreshments R 296A 254,84 Development of scholars Peer Education stuff R 78A 000,00 Travel of pedagogues and scholars to peer instruction class R 43A 200,002 ) HIV Prevention and Education events( 3 events for 8 schools ) HIV activities aligned to the SA course of study, presentation, address, parents ‘ stuff R 30A 000,00 Guidance to radio Stationss & A ; function theoretical account in colloquialising research content R 16A 084,54 1 hr programme for broadcasts before events – Radio Stations R 40A 000,00 R 83A 490,00 Outside broadcast on yearss of events – Radio Station Engagement of the function theoretical account R 183A 678,00 Development & A ; printing of difficult transcript resources for events R 20A 000,00 R 24A 000,00 Traveling R 20A 000,00 R 20A 000,00 Repackaging of all broadcasts into podcasts and composing articles for online publication R 5A 000,00 R 10A 235,00 Telephone connectivity R 33A 396,00 Refreshments – parents and pedagogues R 36A 000,00 Statistical analysis and concluding year-end study R 83A 490,00EntireR 509A 084,54R 1A 113A 743,84MRC fiscal disposal levy @ 15 %R 167A 061,58Grand sumR 509A 084,54R 1A 280A 805,42Percentage part by each spouse 31.37 % 68.63 %Year 2 – 201116 schoolsMRCFunderProject direction, disposal, scientists R 350A 000,00 R 350A 000,001 ) HIV Peer Educators ‘ Course( 1 for pedagogues, 1 for parents and 2 for scholars @ 40 participants each ) Peer Education class, statistical analysis, study authorship, refreshments R 681A 386,13 Travel of pedagogues and scholars to peer instruction class R 99A 360,002 ) HIV Prevention and Education events( 3 events for 16 schools ) HIV activities aligned to the SA course of study, presentation, address, parents ‘ stuff R 69A 000,00 Guidance to radio Stationss & A ; function theoretical account in colloquialising research content R 36A 994,44 2 hr programme for broadcasts before events – Radio Stations R 92A 000,00 R 192A 027,00 Outside broadcast on yearss of events – Radio Station Engagement of the function theoretical account R 422A 459,40 Development & A ; printing of difficult transcript resources for events R 46A 000,00 R 55A 200,00 Traveling R 46A 000,00 R 46A 000,00 Repackaging of all broadcasts into podcasts and composing articles for online publication R 11A 500,00 R 23A 540,50 Telephone connectivity R 76A 810,80 Refreshments – parents and pedagogues R 82A 800,00 Statistical analysis and concluding year-end study R 192A 027,003 ) Collaborative HIV eLearning UndertakingProject direction, disposal, portal development R 300A 000,00 Revision and updating of HIV content in educational faculties, appraisal & A ; activities R 89A 700,00 Graphic art and development of synergistic apps, treatment platform R 44A 806,30 Web development + portal license part R 125A 000,00 R 57A 500,00 Customised Jerseies R 33A 284,68 R 16A 642,34 Statistical analysis of questionnaires R 48A 006,76 R 24A 003,38 Evaluation of scholar remarks, pedagogues studies and concluding study R 76A 810,80 R 38A 405,40 Orientation session for SA scholars R 32A 004,50 R 16A 002,25EntireR 1A 266A 601,18R 2A 508A 670,50MRC fiscal disposal levy @ 15 %R 376A 300,58Grand sumR 1A 266A 601,18R 2A 884A 971,08Percentage part by each spouse 33.55 % 66.45 %Year 3 – 201216 schoolsMRCFunderProject direction, disposal, scientists R 402A 500,00 R 402A 500,00 1 ) HIV Peer Educators ‘ Course ( 2 for pedagogues, 1 for parents and 1 for scholars @ 40 participants each ) Peer Education class, statistical analysis, study authorship, refreshments R 783A 594,05 Travel of pedagogues and scholars to peer instruction class R 114A 264,002 ) HIV Prevention and Education events ( 3 events for 16 schools )HIV activities aligned to the SA course of study, presentation, address, parents ‘ stuff R 79A 350,00 Guidance to radio Stationss & A ; function theoretical account in colloquialising research content R 42A 543,61 2 hr programme for broadcasts before events – Radio Stations R 105A 800,00 R 220A 831,05 Outside broadcast on yearss of events – Radio Station Engagement of the function theoretical account R 485A 828,31 Development & A ; printing of difficult transcript resources for events R 52A 900,00 R 63A 480,00 Traveling R 52A 900,00 R 52A 900,00 Repackaging of all broadcasts into podcasts and composing articles for online publication R 13A 225,00 R 27A 071,58 Telephone connectivity R 88A 332,42 Refreshments – parents and pedagogues R 95A 220,00 Statistical analysis and concluding year-end study R 220A 831,053 ) Collaborative HIV eLearning UndertakingProject direction, disposal, portal development R 345A 000,00 Revision and updating of HIV content in educational faculties, appraisal & A ; activities R 103A 155,00 Graphic art and development of synergistic apps, treatment platform R 51A 527,25 Web development + portal license part R 143A 750,00 R 66A 125,00 Customised Jerseies R 38A 277,38 R 19A 138,69 Statistical analysis of questionnaires R 55A 207,77 R 27A 603,89 Evaluation of scholar remarks, pedagogues studies and concluding study R 88A 332,42 R 44A 166,21 Orientation session for SA scholars R 36A 805,18 R 18A 402,59EntireR 1A 456A 591,36R 2A 884A 971,08MRC fiscal disposal levy @ 15 %R 432A 745,66Grand sumR 1A 456A 591,36R 3A 317A 716,74Percentage part by each spouse 33.55 % 66.45 %Year 4 – 20138 schoolsMRCFunderProject direction, disposal, scientists R 462A 875,00 R 462A 875,001 ) HIV Peer Educators ‘ Course( 1 for pedagogues and 1 for scholars @ 40 participants each ) Peer Education class, statistical analysis, study authorship, refreshments R 450A 566,58 Travel of pedagogues and scholars to peer instruction class R 65A 701,802 ) HIV Prevention and Education events( 3 events for 8 schools ) HIV activities aligned to the SA course of study, presentation, address, parents ‘ stuff R 45A 626,25 Guidance to radio Stationss & A ; function theoretical account in colloquialising research content R 24A 462,57 1 hr programme for broadcasts before events – Radio Stations R 60A 835,00 R 126A 977,85 Outside broadcast on yearss of events – Radio Station Engagement of the function theoretical account R 279A 351,28 Development & A ; printing of difficult transcript resources for events R 30A 417,50 R 36A 501,00 Traveling R 30A 417,50 R 30A 417,50 Repackaging of all broadcasts into podcasts and composing articles for online publication R 7A 604,38 R 15A 566,16 Telephone connectivity R 50A 791,14 Refreshments – parents and pedagogues R 54A 751,50 Statistical analysis and concluding year-end study R 126A 977,85EntireR 662A 238,20R 1A 700A 477,66MRC fiscal disposal levy @ 15 %R 255A 071,65Grand sumR 662A 238,20R 1A 955A 549,31Percentage part by each spouse 28.03 % 71.97 %

Classical Empires Dbq

DOCUMENT-BASED QUESTION: Daoism-Buddhism Directions The following question is based on the accompanying documents. (The documents have been edited for the purpose of this exercise). The question is designed to test your ability to work with and understand historical documents. Write an essay that: †¢ Has relevant thesis and supports that thesis with evidence from the documents. †¢ Uses all or all but one of the documents. †¢ Analyzes the documents by grouping them in as many appropriate ways as possible and does not simply summarize the documents individually. Takes into account both the sources of the documents and the authors’ points of view. Essay Prompt Analyze the similarities and differences between the two religions, and what makes these religions unique. Based on the following documents, discuss classical empires. What types of additional documentation would help determine the benefits and difficulties of running classical empires? Historical Background Buddhism and Taoism are both mainly centered in eastern China, and many people are confused between the two. Not very many people understand whatBuddhists stand for, but many people only know they live to find meaning, and to reach nirvana. Taoists look to end the sufferings in life. Document 1 Document 2 Document 3 Document 4 Document 5 Document 6 Document 7 Document 7 Document 8 Citations http://www. sacred-texts. com/bud/btg/btg03. htm http://en. wikipedia. org/wiki/Taijitu http://www. wadsworth. com/religion_d/special_features/popups/maps/matthews_world/content/map_91. html http://www. diffen. com/difference/Buddhism_vs_Taoism http://www. accesstoinsight. org/lib/authors/bogoda/wheel397. html http://www. chebucto. ns. ca/Philosophy/Taichi/taoism. tml http://www. chebucto. ns. ca/Philosophy/Taichi/taoism. html http://www. buzzle. com/articles/taoism-beliefs. html & http://buddhismbeliefs. org/ ———————– Robert Bogoda, A Simpl e Guide to Life, 1994 To make the best use of our human potential, we need not only a practical aim in life, but a life plan for achieving that aim. The preceding two sections of this essay show the groundwork for developing a proper sense of values, the values essential for gaining happiness, success, and security within the mundane life and for progressing towards the ultimate goal of the Buddhist path, Nibbana.While we walk along the path to liberation, as laypeople we have to live in the world, and our immediate objective will be to make our life in the world both a means to worldly success and a stepping-stone to final liberation. [pic] Lama Surya Das, Buddhism Plain and Simple This picture depicts the god of Buddhism, Buddha. In this picture he can be seen as a calm, wise, and intelligent man. He seems like he just might be meditating. This is the way of Buddha, being wise, kind, and finding meaning in life. This is the way many Buddhists believe they should be.Tai Chi Chuan, Taoism and the Philosophy The religious current of Taoism evolved its own pantheon of deities that were worshipped in temples by the various sects. These Taoist deities, like the Buddhist or Hindu pantheon, represented different qualities and attributes and various ceremonies, depending on circumstances were conducted to appeal to them. Unlike most religions, Taoism has more than one religious figure. In fact, they have about 27 deities, which all stand for different individual things, such as pure ones, immortals, the 3 officials, and many more.Tai Chi Chuan, Taoism and the Philosophy A Taijitu, the main symbol of the Taoist spirituality. Please note however, that the true Taijitu symbol shows the white (or red) spiral on the top, so that the dividing line creates a backwards S shape. Yin and yang are not opposing forces (dualities), but complementary forces, unseen (hidden, feminine) and seen (manifest, masculine), that interact to form a greater whole, as part of a dynamic system . Everything has both yin and yang aspects as light could not be understood if darkness didn't exist, and shadow cannot exist without light. pic] Paul Carus, Buddha, the Gospel, 1909 All compound things shall be dissolved again, worlds will break to pieces and our individualities will be scattered; but the words of Buddha will remain for ever. The extinction of self is salvation; the annihilation of self is the condition of enlightenment; the blotting out of self is Nirvana. Major beliefs of Taoism Major beliefs of Buddhism Taoism has the same worldview as Confucianism or ancient Chinese folk religion. Its philosophy operates within the same paradigms. It celebrates man's association and interdependency with nature.Moving on to a wider plane, the relationship between religion and the universe takes the form of veneration, which lies beyond the confines of time and space, ancestor worship and belief in the sovereign. The principles on which the system thrives even today include Ch'i, Feng Shui, interdependency between life and death, the Eight Immortals and the Ultimate Reality. Life exists in itself – there is no inherent meaning attached to life. However – as all human beings (and animals) wish for happiness and not to suffer – the purpose of life may be said to end that suffering.Buddhism teaches that in an interconnected world, all actions have consequences (karma). The consequences of acts undertaken in this and earlier lifetimes will be felt in a next one, in a process known as reincarnation. It is a Buddhist aim to educate oneself and meditate in order to escape from this cycle of rebirth, to enter Nirvana. | |Buddhism |Taoism | |Geographical predominance: |Tibet, Sri Lanka, North America. |Asia, North America. |Goal of religion: |To gain enlightenment and nirvana. |To gain balance in life. | |Place of origin: |Nepal, India. |China | |Principle: |Desire leads to suffering. |Taoists believe that life is good. Taoism | | | |lays emphas is on the body. | |Status of Adam: |N/A. |N/A. | |Place of worship: |Pagodas, Temples. Temple, shrine | | | | | | | | | | | | | | | | |Warren Matthews, World Religions, [pic] In this map, Daoism, or Taoism, along with Buddhism, are mainly in the eastern portion of China. Most likely, location doesn’t have anything to due with your religion, but what is either forced on you, or which you would like to choose.