پاکستانی insurnace

پاکستان ایک غریب ملک بھاری آبادی ہے ، داخلی سیاسی تنازعات ، غیر ملکی سرمایہ کاری کی کمی ، اور ہمسایہ ملک بھارت کے ساتھ ایک مہنگا محاذ آرائی سے دمہ. ہے کہ پاکستان کی اقتصادی نقطہ نظر اس کے کمزور غیر ملکی کرنسی کی حیثیت ، جو مشکل کرنسی میں اضافے کی کے لئے بین الاقوامی قرض دہندگان پر انحصار کرتا ہے ہے کی طرف سے marred جاری ہے. حکومت کے ایک اندازے کے مطابق 21 ارب ڈالر غیر ملکی قرض میں 2000 ء میں 2003 تک کی وجہ سے چہرے. غیر ملکی قرضوں اور گرانٹ کی حکومت کی آمدنی کا تقریبا 25 فیصد فراہم کرتے ہیں ، لیکن قرض کی خدمت کی ذمہ داریوں کو حکومت کی جانب سے اخراجات کا تقریبا 50 فیصد کل. مستقبل میں قرض قسطوں اگر پاکستان کے پاس آمدنی کا اکٹھا اور مالی خسارہ پر اہم معیار رکھنے کا حکم خطرے میں پڑ جائے گا. پرویز مشرف کے پاس آئی ایم ایف پیٹرولیم کی قیمتوں میں اضافہ کرنا ، ٹیکس کے دائرے کو وسیع کرنے کے لئے ، عوامی علاقے کے اثاثوں نجیکرن ، اور تجارت کے توازن کو بہتر بنانے کی سفارشات کے ساتھ بڑی حد تک عمل ہے. تاہم ، پاکستان کی اقتصادی امکانات غیر یقینی رہیں ، نئی انتظامیہ کے ارادوں کے باوجود بھی تھوڑا بدل گیا ہے. زرمبادلہ کے ذخائر میں تقریبا 1 ارب ڈالر کی ہوور ، جی ڈی پی کی فصل کی کارکردگی پر ترقی ٹکا ہے ، درآمدی بل اعلی تیل کی قیمتوں کی طرف سے درج کیا گیا ہے ، اور دونوں غیر ملکی اور ملکی سرمایہ کار پاکستان میں منصوبوں کے ارتکاب کا ہوشیار رہیں.
پاکستان کے علاقہ مغرب میں مشرق میں ، شمال اور شمال مغرب میں پہاڑوں ، plateaus میں بنیادی طور پر فلیٹ ، انڈس سادہ ، اور عرب جنوب میں بحیرہ ہے.بھارتی ٹیکٹونک ایشیائی پلیٹ کے خلاف زور دے رہے ہیں ، ہمالی سمیت ایک ؤبڑ پہاڑی سلسلہ پیدا پلیٹ میں پاکستان کی جسمانی پہاڑی حالات کی وجہ سے ہے. اس وقت پاکستان دنیا میں دسویں سب سے زیادہ آبادی والا ملک ہے ، اور شرح یہ جا رہا ہے ، اس کو سال 2010 تک آٹھویں ہو جائے گا. پاکستان میں امریکہ کے مقابلے میں آدھے سے زیادہ آبادی کے ہے ، اور پاکستان کا سائز ٹیکساس کے سائز سے زیادہ ہے.علاقائی ، پاکستان اور بھارت ، جس کی آبادی ایک ارب سے تجاوز کر اور سائز وار تقریبا 3 اوقات پاکستان کے کہ کے مقابلے میں کہیں نہیں ہے. پاکستان کی آبادی کی کثافت جو بھی اس کے پڑوسی ملک ہے ، جس کے 26،000 ppk ہے ، پاکستان 1،900 ، جو 400 پر امریکہ کے زیادہ سے زیادہ چار مرتبہ ہے کہ مقابلے میں نزدیک کہیں بھی نہیں ہے. GNP کے لئے پاکستان کے ساتھ امریکی uncomparable ہے ، لیکن پاکستان اور بھارت کے GNP 40 ڈالر کے اندر اندر ایک دوسرے کے ہے. اسی طرح ، بھارت اور پاکستان کی لمبی عمر دونوں کے قریب 60 ، جبکہ اوسط امریکی لمبی عمر 75 کے ارد گرد ہے.
گلوبلائزیشن علاقائی contrasts کے بتدریج کمی کو عالمی پیمانے پر توجہ مرکوز کرنے کے لئے ہے ، بین الاقوامی ثقافتی ، اقتصادی ، اور سیاسی تبدیلیوں میں ایک اضافہ کے نتیجے میں. گلوبلائزیشن نے دنیا بھر کے لوگوں کے اربوں کے لئے بہتر زندگی کے حالات کے لئے کارفرما ہے ، لیکن یہ خطرات اور اخراجات کا سامنا کرنے کی ضرورت ہے لاتی ہے. یہ ترقی کو فروغ دیتی ہے اور لوگوں کو مال ، خدمات ، دارالحکومت ، اور قومی سرحدوں سے بھر میں صدیوں کے لئے معلومات ٹریڈنگ. گزشتہ پچاس سال میں عالمی خوشحالی کی اشیاء اور خدمات میں بین الاقوامی تجارت کے تیزی سے توسیع ، جو سال کے بعد سال کی پیداوار کے مقابلے میں زیادہ تیزی سے اضافہ ہوا ہے پر بڑے بڑے حصے میں مبنی ہے. پاکستان منفی اور مثبت ثبوت ہے کہ عالمگیریت لوگوں میں غربت کی وجہ سے پیش کرتا ہے. 1990s کے دوران غربت کی لکیر کے تحت کی آبادی کا فیصد بتدریج اضافہ ہوا ہے جب پاکستان نے عالمی معیشت کو اپنی سرحدوں کے کھولی. اضافہ بنیادی طور پر وجہ سے بڑے پیمانے پر قرض ہے کہ ملک میں عوامی سرمایہ کاری پر نیچے پریس 1990s میں کمی کرنے کے لئے شروع کیا. مزید encouragingly ، آزادی کے بعد سے پاکستان کے 55 سالہ ریکارڈ سے ظاہر ہوتا ہے کہ غریب لوگوں کے رہنے والے کے معیار میں تین گنا اضافہ کے ہاتھ میں برآمد اور درآمد کی بڑھتی ہوئی اہمیت کے ساتھ ہاتھ چلے گئے. پاکستانی عوام کے لئے سب سے اہم مسائل کو ملازمتوں اور ان کے بڑے خاندانوں کے لئے دیکھ بھال کر رہے ہیں. اگرچہ مردوں کے لئے مواقع ہیں ، خواتین کے لئے کچھ بھی کر رہے ہیں ، لیکن کئی کے طور پر نہیں. گلوبلائزیشن کیونکہ وہ اعلی ٹیکنالوجی کے دور ابھی تک نہیں پہنچ گئے ہیں ، اور نئی کمپنیاں اور پاکستانی عوام پر منفی اثر پڑے گا

انشورنس Eassy پاکستان

مسلم دنیا کے جنوبی مغربی افریقہ سے دور پیسیفک میں فلپائن کے لئے وسیع زمین کےایک وسیع اور بہت زیادہ بڑے پیمانے پر ہے. جہاں تک روس میں دریائے وولگا کےطور پر اس کی شمالی حدود تک پہنچنے ہے جبکہ جنوبی سرحدوں کو جنوب مشرقیافریقہ میں موزنبیق میں بحر ہند میں چلائے. چین میں، مسلمانوں نے برما کی سرحد سے ملحق صوبوں میں کافی تعداد میں اور پیکنگ کے ارد گرد اضلاع میں ہیں. دنیا میں مسلمانوں کی کل آبادی ایک ارب کا اندازہ لگایا گیا ہے. اس اخبار نے ایک ایسے خطے میں ملاقات کی پاکستان میں اس وسیع دنیا کے ایک چھوٹے طبقہ کے ساتھ ڈیل کرتا ہے،.مختلف حالتوں میں اور مختلف پس منظر میں پاکستان نے ان علاقوں میں کئی بار شائع کیاہے اور اب سہا، ایشیائی برصغیر کے دیگر آزاد ریاستوں کے مقابلے میں تہذیب کے لئےبہت بڑا شراکت بنا. ، شاید یہ ہے دنیا کے کسی دوسرے حصے کے مقابلے میں مزیدحملوں کا مشاہدہ، کسی دوسرے خطے سے زیادہ نسلی اپبھیدوں جذب اور زیادہ سےزیادہ اس زمین کو کسی اور جگہ سے زیادہ کے دل میں خیالات جنم لے لیا ہے.

Insurance in emerging markets: overview and prospects for Islamic insurance

Swiss Re’s new sigma study explores the latest developments in the insurance sector of the emerging market economies, with a special focus on the growing market for takaful, a form of Islamic insurance. 

The first half of the study covers the latest developments in the insurance industry in the emerging markets. The second half is devoted to a discussion of takaful, a form of financial protection based on mutual assistance and joint risk bearing that is widely accepted by Islamic scholars.

Non-life insurance in the emerging markets
In real terms, emerging market premiums in the non-life sector grew by 11.6% in 2007. Premium volume in 2007 amounted to USD 199bn. South and East Asia (+13%), Eastern Europe (+12%) and the Middle East (+12%) grew the fastest. According to Daniel Staib, one of the study’s co-authors, “The non-life sector benefited from the strong economic environment and the introduction of new compulsory lines in the Middle East.” Staib adds, “The motor and property businesses continued to dominate the emerging markets insurance landscape in 2007, with motor insurance outperforming the non-life market as a whole.”

Life insurance in the emerging markets
Growth in the life market slowed from 18% to 14% in 2007. Premium volume in 2007 amounted to USD 223bn. Co-author Prudence Ho notes, “The strong performance of the stock markets in the first three quarters of 2007 led to increased sales of investment-linked life products. The launch of new products and the increasing market share of bancassurance, the provision of insurance services by banks, also contributed significantly to the sector’s results.”

Most of the regions decelerated only marginally from their record high levels of the previous year. In South and East Asia, Indonesia (+57%) grew the fastest in 2007. In India, the second-largest market, growth of new business fell from 145.7% in 2006 to just 9.6% in 2007.

Insurance trends and the outlook for the emerging markets
One of the recent developments in the insurance sector of emerging markets is the decision by some regulators to push for the introduction of more stringent capital requirements. Another development is the expansion of microinsurance, which extends coverage to low-income individuals. Finally, bancassurance has continued to grow in importance as a distribution channel.

The financial crisis in industrialised countries has clouded the near-term economic outlook. Demand for products exported from emerging economies will shrink. Commodity prices have already fallen significantly and are expected to continue their slide, leading to lower inflation. Daniel Staib notes, “Insurance in the emerging markets is expected to grow at a slower pace in 2008 and 2009, but its longer term growth prospects remain positive.” He adds, “Factoring in these considerations, average annual growth is likely to drop from the 2002 to 2007 levels of 11.4% in life and 10.6% in non-life to 7-10% in life and 3-8% in non-life between 2008 and 2013.”

Islamic insurance – the growth of takaful as a solution
Various Islamic insurance models that comply with the shariah, the body of Islamic religious law, have been adopted in Muslim countries. Takaful, the focus of the sigma study, is the most accepted model.

Takaful is a system based on the principle of mutual assistance (ta’awun) and voluntary contribution (tabarru), where risk is shared collectively and voluntarily by a group of participants. Through payment of a voluntary donation and the clear definition of the type of loss, impermissible elements such as uncertainty (gharar) and excessive risk taking (maisir) are removed from the contract.

Takaful involves:

• the creation of a shariah supervisory board that oversees insurance operations and compliance with the shariah;
• the separation of shareholder funds from policyholder funds;
• the commitment to distribute technical profits to policyholders;
• the avoidance of investment in non-shariah-compliant assets.

Islamic insurance – future prospects
Between 2004 and 2007, the average annual growth rate for takaful was estimated at 25% (adjusted for inflation) versus 10.2% of that in the conventional market. Although takaful premiums of approximately USD 1.7bn were written in 2007, the global takaful market could reach USD 7bn by 2015. The 1.5bn Muslims around the world represent a growing client segment for the insurance sector.

For this sigma, five markets were analysed in detail: Bahrain, Indonesia, Malaysia, Saudi Arabia and the United Arab Emirates. The two takaful markets with the largest growth potential are Saudi Arabia and Malaysia.

According to Prudence Ho, “Takaful is set to grow because populations of Muslim countries are rapidly growing and because shariah scholars agree that Muslims should refrain from buying conventional insurance if a takaful operator is selling the same product and offering similar benefits and services.” She adds, “Many companies – global, regional and local – have set up new takaful operations over the past five years and retakaful capacity is also expanding continuously.”

Regarding the challenges facing takaful, Daniel Staib explains, “For takaful to prosper, staff with insurance and shariah expertise, shariah scholars, and solutions for coping with large risks are needed.” He adds, “Further standardisation of the operating models and regulations are required. Improving the general public’s awareness of takaful products is also key. ”

Both authors agree that if companies – with the support of regulators – rise to this challenge, the international takaful industry is well positioned to realise its full potential and attract customers from over the world, regardless of their religious affiliation.

This publication can be downloaded in English, German, French, Italian and Spanish. Japanese and Chinese (simplified) will follow shortly.

FOREX: Fundamental Analysis

A fundamental analysis is one of the most difficult but at the same time the key analysis on the forex market. To carry out the fundamental analysis is much more complicated as one and the same factors can either exert irregular importance under different circumstances or can turn into absolutely insignificant after their being of much value. The success of the fundamental analysis lies in the clear determination of the interrelation and the influence of two different currencies on each other. Consequently it is essential to know and to understand certain political events, the relations of different countries, their development, the history of currencies’ development. Besides, it is important to be able to predict the cumulative result of different economic programs and to establish a link between the events which may seem to be absolutely unrelated.

Within the framework of the fundamental analysis specialists familiarize with various reports on the world monetary and financial development. They learn about political and economic life of not only separate countries but also the world community as a whole.

The main purpose of the fundamental analysis is to define which events can influence the development of forex and what kind of changes in the currency rates these events can lead to. The information about the work of exchange houses and large companies, discount rates by central banks, economic policies of governments, potential changes in political regimes as well as all sorts of expectations and rumors may turn out to be crucial when conducting the fundamental analysis.

The main difference between the fundamental and the technical analysis consists in the statement the fundamental analysis is based on. It implies that forex prices are the reflection of the supply and demand which, in their turn, depend on the fundamental economic factors. Those who admit the technical analysis claim that there is no need to seek the reasons for the exchange rates changes. It is enough to analyze the prices themselves. The technical analysis engages in making short term prognoses (from 1 minute to 1 week) on the forex market while the fundamental analysis deals with medium term or long term predictions. In order to be able to launch long term prognoses it is necessary to research the internal reasons for the exchange rates changes which will enable the specialists to estimate the dynamics of currencies supply and demand.

The fundamental analysis has its disadvantages. It is rather complicated and time-consuming to track the changes of all the fundamental indicators with their own causative-consecutive relations in each country which fall under observation. The other disadvantage is that the fundamental analysis is useless to practice for short term trades because it may turn out that a trader does not have enough money for current losses on open positions in several figures which are applicable while exploiting medium term trading.

Trading Strategies on the Forex Market

Every trader who embarks upon trading on the forex market is concerned about the stable income that can be received on the market. In order to generate profits on forex one should work out a trading system or a trading strategy which would include a set of rules to follow while trading on the forex market. There are a lot of trading strategies devised by forex players which guarantee profits in a particular market situation. Successful traders dispose their own forex strategies which they do not share with others as these strategies serve as the instrument of their earning for a long period of time.

As far as beginners are concerned, they should not dream of millions at the very start even employing the most sure-fire method of trading. There is a huge risk of losses as the market is constantly changing and the newcomers cannot get adjusted to the new market conditions at once. In fact, forex strategies are developed under the influence of the state of disappointment or, vice versa, rejoicing.

There are several universal trading strategies on forex which enable a trader to keep his head above water for a certain period of time without facing losses. Generally speaking, it is essential to practice a forex strategy on the market because any occasional methods of trading do not lead to a positive outcome. That has been multiply proved. Moreover, they cannot ensure a stable profit.

Experienced traders claim that a personal forex trading strategy is maximally effective and convenient for a particular trader. In fact, an active and risky person would not use the same strategy as his more careful and meticulous market colleague. Only relying on the trading experience one can adopt an own convenient way of trading otherwise the rules which do not coincide with your opinion or position will not work efficiently.

Preparing a trading strategy is a complicated process which consists of several interconnected steps. Besides, a trader should also take into account his character and preferences while designing a trading strategy. Undoubtedly a trader should be well informed and acquainted with the process of trading and the common risks typical of the forex market.

Composing a trading strategy may include the following steps:

• - Formulating a trading strategy
• - Writing down the rules of the strategy in a particular form
• - Testing the strategy
• - Optimizing the strategy on historical data
• - Trading on forex exploiting the strategy
• - Keeping track of the trade effectiveness when using the strategy
• - Improving and advancing the strategy

Forex Fixing

Forex fixing is a phenomenon which takes place daily on the open auction providing an access for all the players regardless of their significance and the amount of money offered by them to trade. There is no anonymity as all the prices of buyers and sellers are available on screens.

The essence of fixing manifests itself in determining rates by normally finding a rate that balances buyers to sellers. So, the equilibrium is determined by the law of offer and demand between participants. Such a process occurs either once or twice daily at defined times. The monetary exchange rate fixing is carried out by the national banks of each country participant which use the fixing time and exchange rate to evaluate behavior of their currency. The first and most important fixing takes place at 8:55 pm Tokyo time. Another fixing occurs at 4 pm London time. As far as the European Central Bank is concerned, it sets currency fixing in Frankfurt at 2:15 pm Frankfurt time. The ECB observes the spot rates in the interbank market in which it also participates. After the observation the traders of the ECB put their heads together to decide how to set the fixing.

Fixing provides reference levels which have great importance for Europe. Monetary fixings done in Frankfurt are applied to as a starting point for the daily revaluations of positions at the end of each day. Besides, they have validity and are used as the basis for the monetary agreement between banks and customers. These agreements are executed by banks in the following ways:

1)According to the fixing. This way gives the best price and is used in the interbank transactions

2)When there is a spread in 20 pips. This is an improved corporate spread designed especially for major customers.

3)When there is a spread in 40 pips. This method is taken into account while dealing with minor customers.

Customers, as a matter of fact, try to agree upon the best suitable spread with their banks.

Countries peg their currencies on Forex on various reasons. Pegging controls inflationary tendencies, creates demand because of stability, encourages foreign investors. Among pegging strategies we can distinguish

1)Hard pegs – the currency is bound by agreement.

2)Intermediate – from soft pegging to tightly managed “floats”

3)Floating – freely managed or freely floating against other currencies driven by supply and demand.

Pegging of an individual country’s exchange rate or fixing is usually done to control the country’s inflation. But it can also exert an adversive effect of slowing growth or even curbing the country’s productivity. Moreover, Forex fixing by individual countries can lead to serious financial crisis in their economics which proves its unsustainability in the long term. Devaluing or revaluing a currency shows a disability of a government to support the high value it has pegged its currency.

When applying to Forex trading one should have a clear cut idea how the rate changes influence the market. Every trader should be aware of turbulence times before the fixing of rates which lasts for about 15 to 30 minutes. During these minutes there can appear sharp turning of the market direction for a particular currency pair. That is why it is not preferable to trade at this very time because it is next to impossible to predict where the market will trend after these rate changes have occurred.