Friday, February 29, 2008
Five hours later representatives for Anderson and general manager Phil Savage agreed to a three-year, $24 million contact with $13 million in guaranteed money.
After throwing for a career high 29 touchdowns and 3,787 yards in 16 games for the 10-6 Browns, it was necessary that a deal was consummated as quickly as possible. If Anderson bolted for another team, Cleveland would have received a first and third-round draft pick.
After spending the first seven years of his career in the Bay Area, Porter was eager for a fresh new start with an established club. In signing a six-year,$30 million contract, Porter is expected to emerge as the Jaguars number one option at wide receiver.
Playing in 16 games last season with an anemic offense, Porter managed to reel in 76 receptions for 942 yards and five touchdowns.
Drafted seventh overall in 2005, Troy Williamson has been a significant disappoint for the Vikings, finding the endzone three times in three seasons.
“We’re giving Troy a chance, an opportunity for him to come down here and rejuvenate himself, have fun, don’t worry about the high expectations that were associated with his selection and his place there,” Del Rio said.
If Williamson is focused and determined to succeed, the Jaguars have an ability to propel to the top of the AFC South.
Jenkins, a three time All-Pro and seven-year veteran, was dealt by the Carolina Panthers to the New York Jets in exchange for draft picks. He promptly signed a new five-year, $35 million contract that is worth $20 million in guaranteed money.
While heralded as the foundation of the Jets 3-4 defense, Jonathan Vilma was unable to acclimate to coach Eric Mangini's system. The totality of the situation was too much for the Jets rising star to adjust to and a shift to the crescent city will do the two-time defensive captain very well. In return for Vilma, New Orleans sends a fourth-round draft pick to New York.
At 340 pounds, overbearing defensive tackle Shaun Rodgers is a force to be reckon with when not inspired. To imagine the impact Rodgers can cement on Cincinnati's porous defense when motivated is very intriguing to Bengals fans now that he's been acquired for a third and fifth-round pick. In 16 games last season, Rodgers compiled 39 tackles, seven sacks and four forced fumbles.
Super Bowl champion linebacker Kawika Mitchell capitalized off of the Giants playoff push by signing a five-year deal worth $17.5 million.
The city of brotherly love will be feeling a lot more joyous this fall when shut down cornerback Asante Samuel takes the field at Lincoln Financial. With two Super Bowl victories to his credit, Samuel has compiled 22 interceptions and 238 tackles in five short seasons. Considered the premier free agent in this year's market, Samuel agreed to a six-year, $54 million contract on the first day of free agency.
Imagen del satélite MODIS. Obsérvese, señalado con un círculo rojo, la línea de cumulonimbos que componen la linea de turbonada, que en ese momento se desplazaba de oeste a este.
A las 15:46 minutos recibí una llamada de un colega meteorólogo de Molina de Segura (Murcia), informándome que estaba granizando en dicha ciudad y que tenian un cumulonimbus Arcus encima. Yo reaccioné rápido y miré para el oeste de Orihuela donde pude apreciar la mala visibilidad que había debido a la bruma que se formó en consecuencia a la alta humedad y a que el punto de rocío estaba situado a ras del suelo, entonces este se condensa y se forma la bruma anteriormente nombrada. Poco a poco la tormenta se iba acercando hasta Orihuela y el cielo, pese a la mala visibilidad, iba cogiendo un color grisáceo, hasta que este se puso muy negro y realmente amenazante, una demostración de ello es la foto que he puesto abajo.
Aspecto del cielo antes de empezar a llover.
A los pocos minutos comenzó a llover de forma moderada, y al par de minutos lo hizo de forma muy fuerte, registrando 3 litros por metro cuadrado en 3-4 minutos. Al final el temido granizo no apareció afortunadamente y registré 6,96 litros por metro cuadrado, que no esta nada mal para ser la primera tormenta del año y para ser una tormenta que recorrió muchos kilómetros para llegar a Orihuela. Pese a la lluvia aguanté atento al cielo, mi objetivo era cazar un rayo, y lo conseguí (véase la fotografía de abajo).
Tímido rayo al oeste de Orihuela, en plena tormenta.
Al final las precipitaciones recogidas en varias ciudades cercanas han sido bien diferentes. A continuación os pongo los datos de precipitación recogida ayer provocados por dicha tormenta:
Santomera (Murcia): 19,5 litros por metro cuadrado.
Ciudad situada aproximadamente a unos 9 kilómetros de Orihuela.
Murcia (Murcia): 7,6 litros por metro cuadrado.
Ciudad situada aproximadamente a unos 19 kilómetros de Orihuela.
Crevillente (Alicante): 18,0 litros por metro cuadrado.
Ciudad situada aproximadamente a unos 24 kilómetros de Orihuela.
Os he citado la cantidad de precipitación y la distancia aproximada en kilómetros a Orihuela para que veais que la tormenta fue muy local, dejando cifras muy diferentes en lugares relativamente cercanos.Any source
悲傷落淚也好 歡喜雀躍也罷 你的笑容總會浮上心頭
如此孤單 如此眷戀 對你的思念讓我 淚光閃閃
想見你一面 想見你一面 對你的思念讓我 淚光閃閃
啊 男女之間的愛戀 讓人歡喜卻又羞怯
啊 陰曆十六的月夜裡 拔著田中雜草的兩個人
啊 讓我為你染一件 藏青色的短袖外衣吧
愛呦 愛呦 (2004日本唱片大賞金賞)
本名兼久里美的夏川里美，天生就擁有一副好歌喉，而且勇於在眾人面前展現，從八歲那年首度參加故鄉石垣有線電視主辦的「第一屆小朋友好歌喉大賽」獲得優勝之後，及不斷稱霸日本各大歌唱比賽，在 12歲時，不僅以沖繩現代表的身份拿下NTV（日本電視台）主辦的「閃亮第八屆日本兒童歌謠大賞」冠軍，更在同年以沖繩縣代表身份出席第10屆「長崎歌謠祭」勇奪第一名的成績，創下大會開辦以來最年輕參賽者榮獲優勝的紀錄，並進而成為知名唱片公司培訓歌手。高一時，更憑藉著過人的歌喉，通過即為嚴苛的 NHK（日本放送協會）歌手審定；並被當時歌手審定委員會委員長藤山一郎（歿）讚譽為「四十年才出現一次歌手」，同時更創下以未發片歌手身份即得以在 NHK電視台歌唱節目中演唱的第一人。
早期的夏川里美雖然在各大歌唱比賽中過關斬將，然而在唱片成績上卻始終顯得時運不濟，雖然曾以星里美的藝名推出過幾張演歌單曲，然而始終沒能大紅大紫，甚至曾一度心灰意冷返回故鄉。1998年1月，夏川里美開始在沖繩的電台主持節目，同時遇上了歌唱生命中的第2次機會，1999年以夏川里美的藝名重返歌壇。2001年夏川里美翻唱了由日本老牌歌手森山良子（暢銷歌手森山直太朗母親）作詞以及同樣來自沖繩石垣島的音樂團體BEGIN作曲的「淚光閃閃」，成為他歌唱事業上的最大轉捩點；這首歌曲推出之後，夏川里美彷彿循著當年Kiroro走紅的模式，首先征服了故鄉沖繩，在沖繩的排行榜上始終保持在TOP20的名次內，2001年底，「淚光閃閃」榮獲沖繩「琉球放送」、「RADIO沖繩」、「FM沖繩」三大電台年度排行榜第一名。2002年5月「淚光閃閃」奇蹟似的在發行超過一年之後首度打進ORICON排行榜，除了最高曾創下第8名的佳績之外，並持續近榜至近將近60週之久。除了排行成績之外，「淚光閃閃」這首歌曲更可以說是日本音樂獎項上的「三冠王」，在2002年底頒發的第44屆日本唱片大賞（日本作曲家協會主辦）中夏川里美以這首歌曲奪下金賞榮譽，而作詞的森山良子則以這首歌曲贏得最佳作詞人獎項，而在2003年初舉辦第17屆日本金唱片大賞（日本唱片工業協會主辦）中夏川里美更以收錄這首歌曲的首張專輯「太陽～太陽‧風的思念～」榮獲演歌 / 歌謠曲部門「年度最佳專輯」殊榮。HomeAny source
- general duties of Financial Investigation Agency and the Financial Services Commission;
- information on establishing internal control systems, i.e. duties and responsibilities of Officers and employees, reporting on suspicion, etc.
- requirements on customer due diligence, general verification, verification of legal person, requirement for certified documentation;
- prohibition of shell banks and restrictions on corresponding banking relationships;
- wire transfers, requirements on record keeping and on employee training.
- information exchange between public authorities and with private sector, application of counter-measures, guidance on the types of suspicious activities and transactions, etc.
Non-Financial Business (designation) notice, 2008 is the shortest one from three Anti-Money laundering documents published on the BVI FSC site and it clarifies that any person engaged in the business of buying and selling high-valued goods and accepting/making cash payments in the amount more than $15,000, or equivalent in another currency, “is designated as an entity vulnerable to activities of money laundering and terrorist financing, and shall comply with the requirements of the above-named Code of Practice. This document complies with the newly adopted Anti-Money Laundering/countering the financing of terrorism (AML/CFT) regime, extending coverage of anti-money laundering measures to high-end goods dealers.
The third document is Anti-Money Laundering Regulations, 2008 and it includes identification procedures in relation to new and continuing business relationships, exceptions to identification procedures, maintaining record of transactions and reports, maintaining register of money laundering reports and inquiries, duty to appoint Money Laundering Reporting Officer, due diligence audit, establishment of procedures in relation to suspicious transactions, etc.
Article any source
Thursday, February 28, 2008
導 演：史派克李 (Spike Lee)
編 劇：羅素葛沃茲 (Russell Gewirtz)
製 片：布萊恩葛瑟 (Brian Grazer)
配 樂：泰倫斯布藍察 (Terence Blanchard)
演 員：丹佐華盛頓 (Denzel Washington)、
茱蒂福斯特 (Jodie Foster)
克里夫歐文 (Clive Owen)、
克里斯多夫普拉瑪 (Christopher Plummer)
Willem Dafoe、Chiwetel Ejiofor、
Carlos Andrés Gómez、Kim Director
前半部改編自英國都市傳說Spring Heeled Jack，後半部則以肅殺外加童趣味十足的英國鵝媽媽童謠編制、並將前半部主要人物延續帶入，故事不具新意，但，這真是本好看到不行的漫畫（笑）！結構性非常完整，畫風成熟至極，再搭配上藤田式的酷帥風格，看完後整個陷在男子的浪漫想望中、且無不帶了點遺憾感──正牌主角沃爾特沒能抱得美人歸──，不過，就因這份遺憾感，反而讓漫畫更增添無限韻味。
蘇格蘭場 (New Scotland Yard，又稱Scotland Yard、The Yard)，指英國首都倫敦警務處總部。負責地區包括整個大倫敦地區的治安及維持交通等職務（倫敦城City of London除外）。蘇格蘭場位於倫敦的威斯敏斯特區(Westminster)，離上議院約200碼。
蘇格蘭場的犯罪數據庫被稱為Home Office Large Major Enquiry System，其縮寫是HOLMES，來紀念小說中的大偵探歇洛克·福爾摩斯。 蘇格蘭場過去的電話號碼是1212，今天，倫敦大多數警察局和蘇格蘭場本身的電話號碼依然以1212作為最後四個號碼。HomeAny source
Si nos fijamos en el mapa superior, podemos ver como, en superficie, vamos a tener una situación denominada de “pantano barométrico”. Esto se intuye fácilmente al ver que no existen casi ninguna isobara trazada sobre la Península Ibérica y por tanto los vientos son casi inapreciables. Esto es un factor importante a la hora de iniciarse la convección o lo que es lo mismo, la formación de las nubes de tormenta.
Mapa a 500 hPa previsto a para las 18Z del 28/02/08. Altura Geopotencial (líneas blancas), temperatura a 5500 mts (áreas coloreadas), viento a 500 hPa (flechas marrones).
Pero la situación de “pantano barométrico” mencionada anteriormente, no explica de forma clara el posible episodio tormentoso que se puede dar esta tarde. Por tanto tenemos que subir un poco más en la atmósfera. Concretamente nos vamos a situar a una altitud de 5500 mts sobre la vertical del Sureste peninsular. Justo en ese punto vamos a tener un pequeño embolsamiento de aire frío o DANA (Depresión Aislada a Niveles Altos) que favorecerá que, esas burbujas de aire cálido que se forman en superficie por el calentamiento del Sol, asciendan hasta las capas altas de la atmósfera y se condensen formando las nubes de tormenta. Esta DANA albergará en su seno, temperaturas de hasta - 23ºC a esa altura de 5500 mts.
Mapa del CAPE y L.I
Estos factores hacen que se genere energía suficiente como para impulsar esas burbujas de aire cálido hacia arriba. Esta energía la encontramos por ejemplo en L.I, el cual alcanzará un valor de – 2 o el CAPE, que estará sobre los 400 J/Kg. Estos dos parámetros nos indican que la inestabilidad sobre el Sureste durante esta tarde puede llegar a ser moderada. Por tanto esto se traduce en tormentas que, localmente, pueden llegara ser fuertes en zonas cercanas a los relieves. También hay que destacar la importante cantidad de humedad que tendremos en los niveles medios y altos de la atmósfera, con valores de hasta el 90% en altitudes de hasta 3000 mts.
En los mapas superiores (como complemento a la explicación) se puede ver como esta tarde, se creará una zona de ascensos convectivos en el interior del Sureste y del Levante, que favorecerán el desarrollo de dichas tormentas.
小說名：公平賽局：經濟學家與女兒互談經濟學、價值以及人生意義 (Fair Play)
小說家：史帝文．藍思博 (Steven E. Landsburg)
Wednesday, February 27, 2008
By ALAN ROBINSON, AP Sports Writer
PITTSBURGH (AP)—Myron Cope spoke in a language and with a voice never before heard in a broadcast booth, yet a loving Pittsburgh understood him perfectly during an unprecedented 35 years as a Steelers announcer.
The screechy-voiced Cope, a writer by trade and an announcer by accident whose colorful catch phrases and twirling Terrible Towel became nationally known symbols of the Steelers, died Wednesday at age 79.
Cope died at a nursing home in Mount Lebanon, a Pittsburgh suburb, Joe Gordon, a former Steelers executive and a longtime friend of Cope’s, said. Cope had been treated for respiratory problems and heart failure in recent months.
Cope’s tenure from 1970-2004 as the color analyst on the Steelers’ radio network is the longest in NFL history for a broadcaster with a single team and led to his induction into the National Radio Hall of Fame in 2005.
“His memorable voice and unique broadcasting style became synonymous with Steelers football,” team president Art Rooney II said Wednesday. “They say imitation is the greatest form of flattery, and no Pittsburgh broadcaster was impersonated more than Myron.”
One of Pittsburgh’s most colorful and recognizable personalities, Cope was best known beyond the city’s three rivers for the yellow cloth twirled by fans as a good luck charm at Steelers games since the mid-1970s.
The Terrible Towel is arguably the best-known fan symbol of any major pro sports team, has raised millions of dollars for charity and is displayed at the Pro Football Hall of Fame.
Upon Cope’s retirement in 2005, team chairman Dan Rooney said, “You were really part of it. You were part of the team. The Terrible Towel many times got us over the goal line.”
Even after retiring, Cope—a sports talk show host for 23 years—continued to appear in numerous radio, TV and print ads, emblematic of a local popularity that sometimes surpassed that of the stars he covered.
Team officials marveled how Cope received more attention than the players or coaches when the Steelers checked into hotels, accompanied by crowds of fans so large that security guards were needed in every city.
“It is a very sad day, but Myron lived every day to make people happy, to use his great sense of humor to dissect the various issues of the sporting world. … He’s a legend,” former Steelers Pro Bowl linebacker Andy Russell said.
Cope didn’t become a football announcer until age 40, spending the first half of his professional career as a sports writer. He was hired by the Steelers in 1970, several years after he began doing TV sports commentary on the whim of WTAE-TV program director Don Shafer, mostly to help increase attention and attendance as the Steelers moved into Three Rivers Stadium.
Coincidentally, a pair of rookies—Cope and a quarterback named Terry Bradshaw—made their Steelers debuts during the team’s first regular season game at Three Rivers on Sept. 20, 1970.
Neither Steelers owner Art Rooney nor Cope had any idea how much impact he would have on the franchise. Within two years of his hiring, Pittsburgh would begin a string of home sellouts that continues to this day, a stretch that includes five Super Bowl titles.
Cope became so popular that the Steelers didn’t try to replace his unique perspective and top-of-the-lungs vocal histrionics when he retired, instead downsizing from a three-man announcing team to a two-man booth.
Just as Pirates fans once did with longtime broadcaster Bob Prince, Steelers fans began tuning in to hear what wacky stunt or colorful phrase Cope would come up with next. With a voice beyond imitation—a falsetto so shrill it could pierce even the din of a touchdown celebration—Cope was a man of many words, some not in any dictionary.
To Cope, an exceptional play rated a “Yoi!” A coach’s doublespeak was “garganzola.” The despised rival to the north was always the Cleve Brownies, never the Cleveland Browns.
Cope gave four-time Super Bowl champion coach Chuck Noll the only nickname that ever stuck, the Emperor Chaz. For years, Cope laughed off the downriver and often downtrodden Cincinnati Bengals as the Bungles, though never with a malice or nastiness that would create longstanding anger.
Among those longtime listeners was a Pittsburgh high school star turned NFL player turned Steelers coach—Bill Cowher.
“My dad would listen to his talk show and I would think, `Why would you listen to that?”’ Cowher said. “Then I found myself listening to that. I (did) my show with him, and he makes ME feel young.”
Cope, who was born Myron Kopelman, was preceded in death by his wife, Mildred, in 1994. He is survived by a daughter, Elizabeth, and a son, Daniel, who is autistic and lives at Allegheny Valley School, which received all rights to the Terrible Towel in 1996. Another daughter, Martha Ann, died shortly after birth.
If you're one of the millions of people with an Opera Mobile or Opera Mini browser on your phone, you may be pleased to know that Google will soon be the default search engine on the browser start page. We're certainly excited about it -- it will now be even easier for Opera's new and current mobile users to get the information they need, whenever and wherever they need it.
For more details about our new collaboration with Opera, please check out their press release. To learn more about Opera or to download one of their mobile browsers, head here. As always, you can read more about Google mobile products on our website.Any source
Tuesday, February 26, 2008
Fotografía que nos muestra el cielo cubierto al oeste de Orihuela.
Este amago de tormenta en Orihuela no es normal en estas fechas invernales, pero las altas temperaturas y el considerable nivel de Cape y L.I. formaron estas tormentas. Parece ser que el jueves tendremos otra vez una jornada tormentosa, a ver si tenemos suerte y alguna tormenta se pasa por Orihuela.
Imagen del Radar de Almería a las 17:20 horas de ayer. Obsérvese el núcleo tormentoso con reflectividades de hasta 54 hDz entrando en la provincia de Murcia por Caravaca de la Cruz, que luego se extenderia hacia el Oeste quedando relativamente cerca de Orihuela.Any source
As Director of Investment Business, Penn will bear responsibility for regulation and supervising mutual funds and investment business in the Territory. He will also provide assistance in the development of the regulatory regime for investment business in the jurisdiction, and advise the commission on strategic and operational issues related to the funds and investment industry.
Brodrick Penn has more than 10 years experience of work in the area of mutual funds and investment business. He started to work in this field as the assistant registrar of mutual funds with the government's Financial Services Department, the predecessor to the commission. Between 2001 and June 2002, he was acting as the registrar of mutual funds, before assuming the role of Deputy Director of investment business. On several occasions he has also been the director of investment business – the most recent being May to June 2007. Penn completed a five-month secondment in Dublin with GAM Fund Management – a fund administration firm belonging to the GAM group, a world leader in multi-manager investing, which has domiciled nearly 100 alternative funds in the BVI.
Penn's professional qualifications include bachelors of science degree received in 1997, and LLM in International Tax Planning received in 2005 (with certifications in Offshore Financial Centres, AML/Compliance, and Trust and Estate Planning).
Managing director/CEO of the FSC Robert Mathavious has commented on Penn's appointment saying that his expertise across a wide range of regulatory issues in the financial services arena will be extremely valuable for the FSC as it faces more complex issues working with partners inside and outside of the BVI.
Article any source
Monday, February 25, 2008
They were introduced in 1984 to ease the severe budgetary crisis brought about by the structural surplus of milk in Europe. They worked in terms of limiting production growth and coping with the budgetary crisis, but they brought a lot of unintended (or intended) problems in their wake.
The basic problem is that milk quotas ossify structures. Some member states do permit trading of milk quotas within their boundaries, but despite the existence of an internal market, they cannot be traded across national borders. Hence, it is difficult to transfer production from less efficient producers to the more efficient or from less efficient regions to the more efficient.
Of course, some politicians welcome this as a means of enabling farming to survive in these areas. French politicians proudly proclaim that quotas are the reason that milk is still produced in every corner of France. In many areas of Europe only the quota system can guarantee prices high enough to keep farmers in business.
But all this comes at a price. Europe's share of world dairy markets has been falling. Third country markets for dairy products are being captured by more efficient producers in North and South America.
Dairy farmers like them, of course. Their arrival gave them a windfall capital gain and a retirement pot that can be worth as much as €1m.
There was a bare qualified majority in the Special Committee on Agriculture for the quota increase. Germany with a Bavarian farm minister is against, as are Austria, Finland (where there are quite a lot of dairy farmers) and Malta (where there are very few). France would like to delay, but the change will probably be go through and a small step will have been taken towards a more market oriented system.Any source
Toda la Península Ibérica bajo la influencia de la Borrasca situada al suroeste de Portugal.
La cantidad de precipitación recogida ayer es la siguiente:
Orihuela: 18,73 l
Otras cantidades de precipitación recogidas ayer relativamente cerca de Orihuela:
Torrevieja (Alicante): 20,2 l
Albatera (Alicante): 19,1 l
Novelda (Alicante): 18,0 l
Yecla (Murcia): 15,5 l
Castalla (Alicante): 15,0 l
Murcia (Murcia): 14,5 l
Elda (Alicante): 14,4 l
Cartagena (Murcia): 13,9 l
Onil (Alicante): 12,6 l
San Vicente de Raspeig (Alicante): 12,2 l
Aeropuerto El Altet (Alicante): 11,6 l
Alcoy (Alicante): 11,0 l
Molina de Segura (Murcia): 10,9 l
Alicante (Alicante): 10,8 l
Jumilla (Murcia): 10,8 l
Villena (Alicante): 9,2 l
*Las cantidades de precipitación están recogidas en litros por metro cuadrado.Any source
Sunday, February 24, 2008
The job of the Leader of the Opposition is to question government policy and one can't blame him for jumping on any convenient bandwagon that comes on. Food security gave a coherent theme to a speech that was otherwise trying to push every possible button. Raising the spectre of a return to food rationing is a good way of dramatising some of the current changes in global food supply.
It's a bit harder to tease out from the speech what his remedies are. What he does make clear is that he is against a return to protectionism and trade barriers and to production linked subsdidies.
He seems to think that British farmers could produce more food for the domestic consumer if the burden of regulation was reduced. Standards in Britain are claimed to be more onerous than elsewhere in the EU. So, it is argued, one needs regulation that is based on outcomes, not processes, and on trust. What this seems to mean is more self-regulation and reliance on peer pressures with penalties only for the tiny minority of farmers who abuse trust.
All fine in principle, but how does this square with his emphasis on failings in animal health regulation at the beginning of his speech? Of course, the NFU is now blaming 'hobby farmers' for the second wave of the foot-and-mouth outbreak in Surrey last September. Smallholders have hit back by claiming that they often spend more on proper prevention practices than do commercial farmers, while others have argued that hobby farmers should not be demonised.
In time Dave Cameron may come to learn that the politics of farming brings you few votes and a lot of grief.Any source
Saturday, February 23, 2008
Financial Exclusion of Indian Muslims
Syed Zahid Ahmad, AICMEU's Baitulmal Co-operative Credit Society Ltd, Mumbai. firstname.lastname@example.org
Muslims as Minority Community in India:
Though Indian Muslims along with other communities initiated, struggled and sacrificed their lives for freedom of India, perhaps the incident of partition (and origin of Pakistan) shadowed those sacrifices. The awful situation is that, not only those Muslims, who choose India as their own country, became undesirable; but the Muslims born in India after freedom, who had nothing to do with formation of Pakistan, are still paying the price of that partition and are made to feel their fundamental rights as obligations. Today, the community is almost detached from the mainstream and rated as the most under-privileged community after Scheduled Castes (SCs) and Scheduled Tribes (STs) in India. The feeling that Muslims are deprived of sharing development fruits has caused great sense of alienation among the Muslims. With lot of showmanship, it was decided in 2005, by present central government to investigate the plight of Indian Muslim.
Even Justice Sachar Committee did not justice:
This investigation report, popularly known as Sachar Committee Report was published in November 2006, revealed some factual data about the nature and degree of Muslim backwardness; but some section of the report did not justified with the fact findings. As it would not be possible here to discuss all those injustices, with due regard and thanks to Justice Sachar Committee members; I would like to point out the following five points related to deprivation of Indian Muslims religious rights and their financial exclusion in banking and finance sector, where it seems misappropriated.
1. Indian Muslims not prefer to deal with interest based banking or financial services and is seeking policy initiative to operate interest-free banking and finance in India.
2. The prohibition of interest in Islam is a root cause of lower participation of Muslims in employment and business activities in banking sector.
3. Indian Muslims reluctantly use interest based banking services to avail security for their individual deposits and credit for their business requirements.
4. The demand for interest-free banking by Indian Muslims has been deserted for over 60 years and the policies regarding Interest-free financial Institutions in India (IFFIs) are also causing hurdles in growth.
5. In absence of Interest-free banking in India, there is annual financial exclusion of Indian Muslims over Rs. 22,000 crores.
What is unjust in Sachar Committee Report?
It is admirable that through Justice Sachar Committee Report, the Indian Government attempted to divert thinking of Indian Muslim leaders towards general development plans. Since the concerned persons for preparation of the said report used to live in civil society; they miss to include the psychological approach of Muslim majority (living in slums or poor villages with lower tolerance over issues related to religion and community affairs) in preparation of the report. This made the report reflecting the ideology of civil society, and the real observations and feelings of general Muslims were not transmitted in the said report. It is a fact that the demand for interest-free banking by Muslims in unorganized sector is more acute than by Muslims living in civil societies.
Why Muslim's participation is low in banking Sector?
Muslims do not prefer to interact with interest based banking and finance because Islam strictly prohibits interest. The pre-dominant role of interest in our fiscal and monetary system caused exclusion of Indian Muslims from banking and finance sector. The general Muslims are more reluctant to interest based systems as compared to those living in civil society. This is also clear from the observation that majority of Muslims associated to civil society tends to use interest-based banking and the general Muslims who do live in slums and rural areas are more reluctant to interest based banking, and they prefer financial exclusion compared to being part of interest based banking and finance. They like to transact through IFFIs, as they provide interest-free banking and financial services.
Why Interest is prohibited in Islam?
Interest (Riba) is such a forbidding sin in Islam that the Creator of Universe Has Announced War against those who take Riba. Those who devour Riba would be under fire (Hell) forever after death, because Riba is a cruel practice against humanity; which ruins the sublime human feelings like sacrifice, charity and help etc. from civil society and helps promoting such a ruthless society, where instead of 'humanity'; the capitalist forces (with their wealth) rules the society. In fact Riba is just not meant for a value addition as 'interest' over principal sum of deposit or lending, but it could be defined as a practice to take undue advantage from the needy with providing conditional credit. Riba could be observed in different forms while practicing trade and commercial activities. It's important to note that enabling someone to indulge into Riba is indirectly meant for promoting Riba. So those who deposit savings at banks (capitalist forces) are indirectly empowering banks to execute Riba by lending loans on interest (with help of extended finance through savings). The sin of Riba is quite evident after thousands of farmer's suicides cases.
Unjust reporting by Justice Sachar Committee:
In the largest secular democratic country 'India', even after 60 years, the Muslims are not allowed practicing their religious rights in banking sector because while Islam strictly prohibits interest, Indian banking acts does not allow opening an interest free Bank in India. The community being in minority could not fight against it. If someone ever tried to rise voices, that been diplomatically denied by government officials. The latest example could be illustrated from the incidence how the Justice Sachar Committee Report (which is considered as ever best gift to Indian Muslims) denied doing justice with the Community. This demand of interest free banks for Muslims as raised by a few community leaders before delegates of Justice Sachar Committee was not only denied but perverted with just following three sentences.
"Some felt that it was desirable to create separate financial institutions for Muslim entrepreneurs. Others argued that the existing minority financial institutions have been a failure and a decentralized micro-credit schemes through self help groups (SHGs) is the most viable option. Some existing SHGs for Muslim women entrepreneurs that have been successful were cited as examples that could be emulated."
Here in the first sentence; it seems that the committee with intention to avoid discussing over 'Interest-free banking' instead of clarifying the nature of desired 'separate financial institution' for Muslims just said that "Some felt that it was desirable to create separate financial institutions for Muslim entrepreneurs". The very next sentence further sliced the demand by reporting others argument about minority financial institutions that "the existing minority financial institutions have been a failure" (means Muslims are inefficient to manage interest-free financial institutions). Again with intention to avoid any possible uproar over interest-free banking, instead of discussing about causes of these failures (and also about role of government authorities in such failures), in the same sentence, the committee tried to divert the topic towards Micro-Credit Schemes, quoting that "and a decentralized micro-credit schemes through self help groups (SHGs) is the most viable option". The third sentence further strengthens this attempt of diversion by quoting that "Some existing SHGs for Muslim women entrepreneurs that have been successful were cited as examples that could be emulated".
This way without citing the 'taboo' word 'Islamic Banking', the government officials not only denied the demand of interest free bank in India and left the Muslims deprived of their religious right to transact interest free banking; but also tried to divert Muslim's attention from Interest-free Banks to Micro–Credit Schemes, where the rate of interest is relatively higher than SCBs, creating scope for more financial loss to the community.
Muslims have lowest employment share in RBI:
About lower percentage of Muslims in banking sector, the committee writes that –
"The Census, 2001 data (Fig. 6.12) shows that the percentage of households availing banking facilities is much lower in villages where the share of Muslim population is high."
It indicates that generally Muslims avoid interest based banking and wherever the community is higher in concentration, they tend to operate interest-free financial institutions. The committee further mentioned that -
"The representation of Muslims is very low at 2.2% in bank employment overall, just 1.7% at higher levels and 2.5% at lower level positions. "
"Similarly, available estimates suggest that the number of Muslim employees in the Reserve Bank of India (RBI) is 150 out of nearly 19000 employees."
The committee did not like to discuss about reasons of lowest percentage (0.78%) of Muslims in RBI and SCBs (2.2%). The intention could be simply to avoid any discussion over possible reason - 'prohibition of interest in Islam' and thus real need of interest-free banking, which seems unacceptable to RBI and SCBs rather they might in reality seek exclusion of Muslims for monetary and financial system. Unless our policy makers take some policy initiative to recognize the real demand of interest-free banking for Muslims, percentage of Muslims in banking sector is not going to increase.
Manipulated observations and recommendation by Sachar Committee:
The committee did not justify with some of the following sections of recommendations related to banking and finance.
"The chapters on Bank Credit and Government Programmes have highlighted the fact that flow of credit to Muslims is quite limited. While part of this could possibly be due to lower demand for credit due to low income levels of the Community, low access to credit cannot be ignored. Lack of access to credit is a more serious problem for the Community as a significantly larger proportion of workers are engaged in self-employment, especially home-based work."
Here in above observation, it was truly reported that flow of credit to Muslims is quite limited; but wrongly interpreted that it might be due to low income of people, because already in chapter 6, the committee has found and quoted the following facts contradictory to the above statement of low income as a reason for low credit demand.
"Muslims constitute about 12% of all ASCBs account holders. ... It is noteworthy that the share of Muslims in the 'amount outstanding' is only 4.7%".
Unfair Recommendation by Sachar Committee:
So, it is clear from the above statement of the committee that, Muslims share in PSA accounts (12%) is closure to their percentage share in population (13.43%), moreover the demand for Credit by Muslims is much higher as compared to granted loans under PSA by SCBs. Moving ahead with intention to promote interest based banking among Muslims instead of recognizing demand for interest-free banking, the committee further recommends the following -
"The Committee, therefore, recommends promoting and enhancing access to Muslims in Priority Sector Advances. Any shortfall in achievement of targeted amount in minority specific programmes should be parked with NMDFC, NABARD and SIDBI and specific programmes should be funded with this amount. However, the real need is of policy initiatives that improve the participation and share of the Minorities, particularly Muslims in the business of regular commercial banks"
The committee in a way told Indian Muslims that they should either forget prohibition of interest in Islam and start participating in interest based banking as other communities do participate; otherwise remain out of the credit system. This is very clear from the fact that the committee instead of discussing about prohibition of interest in Islam and financial exclusion of Muslims by SCBs, advocated inclusiveness of Muslims in SCBs business.
Sachar Committee supported practice of financial exclusions of Muslims:
About role of specialized financial institutions like SIDBI and NABARD, the Committee submitted the following recommendations.
"The Committee also recommends that the coverage under Public Programmes should be extended to include more schemes and should also include lending by NABARD and SIDBI. SIDBI should set aside a fund for training for minorities under its Entrepreneurial Development Programme. Such programmes should not only aim to improve skills of artisans in traditional occupations but also reequip them with modern skills required to face the adverse effects of globalization in their area of artisanship. Given the substantial presence of Muslims in these occupational groups special attention should be given to them."
"While the available data is inadequate, there is a widespread perception that the participation of Muslims in the Self Help Groups (SHGs) and other micro-credit programmes is very limited. A policy to enhance the participation of minorities in the micro-credit schemes of NABARD should be laid down. This policy should spell out the intervention required by NABARD through a mix of target and incentive schemes based on the population percentage of Muslims in the village in order to enhance the participation of Muslims in micro-credit. In any case, data on the participation of different SRCs in such schemes should be collected and shared with the RBI or the NDB. The implementation of such schemes may need to be tailored to specific situations."
In the above recommendations, the committee not even liked to discuss about reasons and consequences of financial exclusions of Muslims by SIDBI and NABARD. If we see that there is less than 4% share of Muslims in finances extended by NABARD and even less than 0.48% share in loans granted by SIDBI, the above recommendation of the committee bound us to think that, the committee wants to see continued financial exclusion of Indian Muslims by SIDBI and NABARD.
Annual Financial Exclusion of Indian Muslims
Analysis of data available at Sachar Committee Report shows that there is annual financial exclusion of Indian Muslims worth over Rs. 22,000 crores. The following table shows how Indian Muslims are being financially excluded. Due to errors in data of 25 SCBs, the Sachar Committee used data of only 31 SCBs. The analysis of these data shows annual financial exclusion of Indian Muslims worth Rs. 11,170.40 crores.
Loans / Deposits
Rupees in Crores
% to Muslims
1. Outstanding loan amounts under PSA granted by 31 SCBs
2. Loans disbursed by SIDBI
3. Production refinance by NABARD
4. Investment refinance by NABARD
5. Total outstanding loans by 31 SCBs, SIDBI and NABARD
6. Total individual deposits at 31 SCBs
7. Total deposit loan ratio (7=5/6)
8. Net annual financial exclusion of Indian Muslims
Rs. 11,170.40 Crores
If we assume that the other 25 SCBs whose data been excluded by Sachar Committee would follow the same ratio in deposit and credit amounts, it is supposed that the remaining 25 SCBs will share around 45% of total deposits and loans of 56 SCBs while 31 SCBs will share 55% of total deposits and loan amounts. With this ratio, the annual estimated deposits and outstanding loans at 25 SCBs could be as following:-
Estimated Deposits and Loans at 25 SCBS
Rupees in Crores
% to Muslims
9 Total outstanding loans under PSA accounts by rest of 25 SCBs
10. Total individual deposits at rest of 25 SCBs
If we sum up the figures of 31 and 25 SCBs deposits and loan amounts, there is estimated annual financial exclusion of Indian Muslims over Rs. 15,025 crores due to deficit in deposit loan ratio for Muslims, based on assumption that all 56 SCBs would maintain the same ratio as 31 SCBs did whose data used by Justice Sachar Committee.
Estimates of all SCBs, SIDBI and NABARD
Rupees in Crores
% to Muslims
11. Estimated total individual deposits at all 56 SCBs
12. Estimated total credit issued by 56 SCBs, SIDBI and NABARD
13. Estimated total credit deposit ratio (13=12/11)
14. Net annual financial exclusion of Indian Muslims
Rs. 15,025.43 Crores
If annual interest earned by SCBs over Rs. 7,000 crores (with estimated PLR of 12.5% p.a.) due to deposits by Muslims accumulated to deficit in credit due to deficit in deposit loan ratio, the annual financial exclusion of Indian Muslims amounts to Rs. 22,000 crores.
Analyzing the above table, we may further conclude that Muslims contribute 7.4% of national individual deposits at SCBs and get only 4.7% of outstanding loans; it shows SCBs are more interested in mobilizing deposits from Muslims and neglects them while it comes to granting loans. If this financial exclusion of the community had been checked earlier, the percentage of Muslims living under BPL would have dropped considerably.
Sachar Committee supported Economic Assassination of Indian Muslims:
For Indian Muslims, already suffering from severe economic backwardness, this sort of financial exclusions is proved to be an act of economic assassination by so called secular democratic system. The Justice Sachar Committee Report should have pointed out this financial exclusion of Indian Muslims and suggested measures to check this exclusion. Instead the Committee supported the financial exclusion of Indian Muslims by avoiding to quote anything about this exclusion rather suggested recommendations for inclusiveness of Muslims in the existing banking and financial system. The genuine reason for this might be to avoid any possible uproar among minority community for this exclusion and demand of interest-free banking. The committee is not supposed to let any chance for creating anti incumbency factor for the present government, thus they accordingly prepared the report and tried to avoid any uproar among the Muslim community.
This financial exclusion may spread communalism:
But it is just not possible to hide the fact for a longer time. How long a paper boat could float in the sea? If justice is not given to a community, it will lead to revolution and may disrupt the system as well. It is expected that sooner or later, the Indian Muslims would revolt against this financial exclusion and may also agitate by demanding interest-free system to have due share of credit on their savings. By that time, it would be too late to handle the issue, because if it gets the communal touch, it may communalize our economic and financial structure as well. The community with 67% poverty and over 90% workers associated with unorganized sector, the Indian Muslims need special financial facilities. And in view of the extended credit requirement, if the financial exclusion is not checked, it may really create a sense of communal uproar among Indian Muslims. And by that time, it would be really very difficult to justify the negligence of demand for interest-free banking and measures to control financial exclusion of Indian Muslims.
Immediate Policy Initiatives required:
Some Muslim leaders have already submitted plea to Ministry of finance and office of the Prime Minister of India to consider application for permission of interest-free banking in India. It is high time our government authorities should consider the sensitiveness of this issue and handle it tactfully. With current decline in growth rate it may be the right time to take due policy initiative for allowing interest-free banking business in India to facilitate the entrepreneurs and individuals associated with our unorganized sector. The issue related to feasibility of interest-free banking and its compatibility with RBI, may be discussed in exclusive meetings with advocates of interest-free banking with RBI legal advisors. Any further silence over it may certainly defame our secular democratic governance at international level; if it leads uproar of just following fact that -
"Indian Muslims, being in minority; despite 60 years of secular democracy are deprived of practicing their religious rights in banking and finance sector, and there is annual financial exclusion of Indian Muslims over Rs. 22,000 crores. "
Time is running out for justice!
Indian Muslims seek justice over their financial exclusions and demand for permission to open interest-free banking. If they got permission, it could pacify; otherwise it is not possible for the authorities to compensate losses of Indian Muslims due to this financial exclusion. With passing days, this issue may lead to communal tensions in our country and could also yield anti incumbency factor for UPA government because after all this matter has to be solved by the central government.
Considering proportionate lower share of unorganized sector in GDP growth rate, the UPA government should think about its impact on majority of Indian community. The ministers and policy makers should come out of evaluating growth of organized sector by reading the sensex per day. This sensex reading lead to feel 'Shine India' by NDA government and kept in dark about dissatisfied general Indian associated to unorganized sector. Again our ministers and stakeholders of national economic policies are more interestingly watching stock market and formal sector growth only. There is still to notice any considerable growth sign in unorganized sector. RBIs should also focus to provide financial inclusiveness to 60% potential customers who are still out of credit system.
Majority of people associated with unorganized sector needs comprehensive credit facility with lowest possible interest and not Micro-Finance where rate of interest is even more than PLR of SCBs. With possible dissatisfaction among majority of unorganized sector workers, any uproar by Indian Muslims would be additional burden and may cost the UPA government to loose support of patent voters in next election.
So, before the air of anti UPA blow, the ministers and administrators should come out of projecting over 9% growth rate by screening formal sector indicators like stock exchange and RBI estimates. Its time to listen the people's voice associated to unorganized sector that constitute 90% human capital of Indian economy.
It is expected that if Interest-free Banking is incept operation in India, it may immediately induce Direct Foreign Investments (DFI) around Rs. 1,00,000 crores from Gulf market. Considering present trend of recession in American and international market, it would certainly be preferred to induce DFI from gulf market. For further queries in this regard please feel free to call the undersigned.