Benjamin Franklins Success Model Life and Times in the Autobiography essays

Benjamin Franklins Success Model Life and Times in the Autobiography essays Philosopher, scientist, and framer of the US Constitution: these are just few of the occupations Benjamin Franklin had been involved with throughout his life. In his memoir entitled, "Autobiography," Franklin talks about his life successfully assuming positions and occupations that had benefited American society. Interspersed with the narrative accounts of his life, the great proponent of the Enlightenment period also infused insightful thoughts about his philosophy of life and his optimistic view of humanity's goodness and potential to achieve perfection. One of the interesting points of "Autobiography" is his proposed model for success in life, wherein he enumerated thirteen (13) virtues in the life of man, which shall be his guide in his pursuit for perfection and satisfaction in life. This paper provides a detailed discussion and analysis of Franklin's life, applying in the discussion how his own model of success in life reflects his life. Franklin's success model is made up of four (4) virtues which bring into light the characteristics that made him successful and contented in life: resolution, industry, justice, and The first element that makes up Franklin's success model is resolution, describing this virtue as follows: "Resolve to perform what you ought. Perform without fail what you resolve." As a young man, Franklin is already seen as a resolute individual, who have a definite plan of action in achieving his goals in life. At a young age, he had already recognized the value of planning ahead, of formulating goals and dreams and systematically achieves them. In "Autobiography," he was able to go through all the hardships and difficulties in his work as a printer in Philadelphia, that, despite the conflicts that he had with his former employer, he was able to remain optimistic about his future and plan ahead despite his limited financial resources. ...

Studying In the United Kingdom

Studying In the United Kingdom Introduction Globalisation has brought people from diverse cultures together due to technology. This has seen these people working and learning to communicate often with each other. The education sector has not been spared especially in the UK where students from other cultures are relocating to study in the UK. While this move seems exciting, most students find themselves experiencing culture shock (Carter 9).Advertising We will write a custom assessment sample on Studying In the United Kingdom specifically for you for only $16.05 $11/page Learn More Students from other cultures are at a loss on how to relate to the new culture. Take for example two students from South Africa and Italy who have relocated to study in the UK. It is important to note that these students are from different cultures yet need to conform to the UK culture. Cultural differences continue to pose a challenge to most students coming to study in the UK, it is therefore important to und erstand and address the issue. Cultural Differences in the UK The social attitude of the UK students in most instances differs from that of their counterparts. When the students first arrive to study in the UK, they notice some aspects that differ from what they are accustomed to. This culture shock that is often experienced has raised numerous questions on how to understand the different cultures and whether there are set guidelines that need to be followed to adapt to a particular culture. Dr Geert Hofstede attempted to explain this issue by conducting a worldwide research in more than 60 countries (Hofstede 14). He differentiated cultures by applying the four cultural dimensions namely; the power distance, individualism/collectiveness, uncertainty avoidance and the masculinity/feminity dimension. The Dimensions Of Culture Studying in the UK is not only prestigious but also offers quality education to both native and international students. This is the reason why currently, most l earning institutions in the UK are flooded with students from other countries. However, most of these students face challenges while trying to adjust to the new life in the UK. This is brought about by the difference in culture and can result to culture shock. However, it is important for any student willing to study in the UK to study and understand the dimensions in culture and their applicability in the learning institution. The student is required to learn and adjust in some areas in the new learning environment. Power Distance Dimension (PDD) Power distance has been explained by Hofstede as sharing of power amongst the people in a certain community. Power can either be shared or dispersed equally or unequally. According to Hofstede, the power that is shared unequally in the society is a high power distance while the low power distance indicates equal power sharing (Hofstede 65).Advertising Looking for assessment on education? Let's see if we can help you! Get your firs t paper with 15% OFF Learn More Application: UK has been ranked as a low power distance with a belief that power should be distributed equally in the learning institutions. Students from a high power distance country like South Africa might find difficulties adjusting to this new trend. The role of students and teachers in decision making differs in both countries. In South Africa, the teacher is the sole decision maker with little or no contribution at all from the student. The teachers possess particular powers that are unquestionable by the student. On the other hand, UK teachers respect the students’ role in decision making. Team work in UK is very essential hence the need to get everybody involved. On the other hand, students from Italy may easily adjust to the new system as their culture is ranked as a moderate power distance. Individualism/Collectivism Dimension (ICD) – Interrelationship between people within a particular company differ in differ ent cultures (Hofstede 148). A high individualism entails a culture which has a loose connection amongst its people. A low individualism on the other hand ensures that the members of the community are concerned about the well being of each other. This indicates a strong connection between the individuals of that particular community. Application: UK culture conforms to high individualism. Students willing to study in the UK should learn to get most of their things done on their own. This is a culture that most students from Italy will find difficult to adjust to as their country is ranked as having low individualism. Studying in the UK requires students to perform most duties on their own such as cooking, making personal arrangements and managing one’s resources. Students in the UK are expected to meet their own expenses and are therefore allowed to work part time. Students from South Africa who are used to government intervention will find it difficult conforming to this cul ture (Foskett and Foskett 57). Uncertainty Avoidance Dimension (UAD) – Societies are likely to be faced with uncertainty over some issues that are beyond their reach (Hofstede 110). This leads them to come up with rules or beliefs to deal with such issues. The high uncertainty avoidance cultures have rules to govern them so as to avoid uncertain situations. The low uncertainty avoidance culture on the other hand has very few rules but highly tolerate any deviant issues. Application: Students in the UK have been conformed to a culture of low uncertainty avoidance as compared to students in South Africa and Italy. Though there are no strict rules governing the students studying in UK, they are bound by some ethical issues. Time keeping and management is one of the key areas that a student should be aware of. Punctuality is highly regarded and a student should always be on time to attend lectures and other meetings within the learning institution.Advertising We will writ e a custom assessment sample on Studying In the United Kingdom specifically for you for only $16.05 $11/page Learn More Instructions pertaining assignments are strictly followed. Issues such as plagiarism and failure to reference the work as instructed can lead to serious consequences. The teachers also apply different assessment strategies such as essays, reports and main exams to gauge students’ capabilities. Students from other cultures such as South Africa might find these strategies different from what they are used to in their own countries. Masculinity/Feminity Dimension (MFD) – Hofstede explained this dimension as the capability of both females and males to perform equally (Hofstede 148). In high masculinity, the men are expected to perform more than the females. They are said to be the providers and stronger than their female counterparts. An example of such a culture is experienced in South Africa. In low masculinity cultures, both men and w omen play an equal role in the society. Application: The UK culture conforms to low masculinity where both the female and the male students are equal. Women in the UK are independent and play equal roles as their male counterparts. South African students studying in the UK might find this culture challenging and shocking and might take time adjusting. Conclusion The idea of studying in UK can be an intriguing experience to students of other cultures. However, they can be faced with cultural challenges hence the need to learn them beforehand. This will help them adjust to the new culture that they are facing in the new environment. Though it is considered normal to experience the culture shock, it is important for a foreign student to adapt to the UK culture so as to make their life comfortable. Carter, Holly. The Essential Guide for Study Abroad in the United Kingdom. Maryland: Forbes Boulevard, 2004. Print. Foskett, Nicholas and Foskett, Rosalind. Postgraduate Study in the UK: The   International Student’s guide. London: Sage Publications, 2006. Print. Hofstede, Geert. Culture’s Consequences: International Differences in Work-Related  Values. London: Sage Publications, 1984. Print.Advertising Looking for assessment on education? Let's see if we can help you! Get your first paper with 15% OFF Learn More

Biography of Emiliano Zapata Essay Example | Topics and Well Written Essays - 250 words

Biography of Emiliano Zapata - Essay Example Zapata first used peaceful negotiation. He then increasingly resorted to the forcible confiscation of land from the haciendas and its redistribution among the peasants. In 1910, Zapata joined Francisco Madero’s  revolution against the entrenched dictatorship of  Porfirio Dà ­az.   In March of 1911, he formed a small guerilla band and captured Cuautla, Morelos, a strategic location, helping to remove Dà ­az from power.  Zapata then opposed Madero, himself was a hacienda owner, for his indifference to democracy and land reforms.  Ã‚  Zapata retained his guerilla force, retreated to the mountains and continued his fight against the new regime. Along with Otilio Montaà ±o, a local school teacher, Zapata composed the Plan of Avala, which expressed the land aspirations of the local peasants. In 1913,the new dictator, Victoriano Huerta attempted to reconcile with Zapata, but Zapata rebuffed him and went on to consolidate his hold over all of Morelos, and parts of the other neighboring states, by the summer of 1914.  Zapata formed an alliance with Francisco Pancho Villa, in December 1914 and took control of Mexico City. His attempts t o implement his land reforms in Morelos met with limited success.   In 1915, Venustiano Carranza took control of the revolution and invaded Morelos. Zapata faced increasing internal dissent. He finally attempted to form an alliance with Jesà ºs Guajardo, a dissenter in Carranza’s army. Zapata was shot dead by Guajardo’s troops as he rode to his meeting with Carranza at Chinameco on April 10,

Answe qustions in ethics policy adminstration Essay - 1

Answe qustions in ethics policy adminstration - Essay Example I am also required to ensure that they are informed of all the correct procedures and about any misappropriation of official duties My responsibilities to my subordinates includes dissemination of information regarding work paradigm, ethical considerations, rules and regulations and expected outcome. They are expected to follow the defined processes and ensure that work is finished within the deadline. I have huge responsibilities to the public who help to pay our salaries. My responsibilities are to ensure public disclosure of our financial accounts and promote transparency in our work so that public knows how the work is accomplished in different areas of public interests. Most importantly, public is entitled to be aware of its own duties and therefore it is also important to create awareness amongst the people as to how they can become more active proactive participants in developmental works and socially relevant issues. (words:

Global business and multinational firm module coursework Essay

Global business and multinational firm module coursework - Essay Example e better part of the 21st Century, there are corporations developing in other countries that have begun to aggressively assert themselves in the global economy in an attempt to further their own monetary interests. What this means is that while the ideology of globalisation used to only benefit a few countries, it is now benefiting many more and that is allowing for globalisation to be accepted in many more places than it was previously. Globalisation is no longer just a one-way process of benefits going from East to West, but it is now an ideology that can benefit all parts of the world equally if growth continues. If China was to become the world’s largest economy, the changes that would occur would be minimal, since China has a labour-based economy. International trade is something that will always be debated because it is interesting to see who has the advantages and why. The most common manner by which to explain the advantages that certain countries have over others in trade in by using a comparative advantage model. There will always be different scales because of the various differences between countries’ finances, education levels, population, demographics, resources, and other factors. China is a country that has traditionally been used for its labour, due to its extremely high population and its lack of good paying jobs. The variable in this situation is that Chinese companies are beginning to use globalisation to their advantage, with one such company being Acer, which is a computer company. Acer is the world’s fourth largest personal computer manufacturer and it also builds servers, storage devices, LCD monitors, high-definition TVs, peripherals, as well as provides â€Å"e-business solutions for busine ss, government, education, and home users† (About Acer). Acer also has developed a unique business model called the Channel Business Model which uses supply-chain management to ensure that new technologies, competitive pricing, and quality service

Effects of Basel II Accord on Qatar’s Banking Sector

Effects of Basel II Accord on Qatar’s Banking Sector Chapter 1: Introduction International banking is increasingly vital for every country in order to create an image for itself in the international finance market. Alongside, the increase in globalisation and the upsurge in outsourcing by multinational companies in the west have created a lot of opportunities for growth in the Middle East and Far Eastern countries. This apparently requires a strong internationally stable financial organization to conduct transactions across the globe without any errors (i.e.) 100% accuracy.   This includes reliability and stability of the bank under extreme situations (like emergency for example), which is highly important to conduct international transactions. Also the potential to meet financial demands during crisis situations is a vital criterion that is considered while presenting themselves in the international market. In addition to the globalisation, outsourcing and export/import growth, there is also a tremendous growth in cross-border finance among the countries in the Middle East and Far East. Along with all these factors the developing nations in the Middle East face a mandatory requirement of a sable international banking system in order to attract foreign investment. The increase in cross border finance activity among the middle eastern countries is also a critical element to be considered for establishing a stable international bank within the nation in order to represent the country in the international finance market. The countries in the Middle East are actively participating in cross-border finance since the dawn of the 21st century. Being a producer of Oil which is a vital ingredient at all levels of life right from day-to-day driving up to power generation for the nation in order to run industries and serve domestic purposes, makes it critical for the nations in the Middle East to have a strong international banking system to conduct transactions across the globe accurately and effectively. Qatar is a growing nation in the Middle East with primary operations in oil and gas export as well increasing its potential in areas of development in technology focusing on IT and communication. The nation has efficient international operations and con ducts financial transactions between western nations as well as with eastern nations. Since the take over of the government by H.H. Sheikh Hamad Bin Khalifa in 1995, the country is making tremendous progress in deploying its hydrocarbon resources in order to penetrate in the international market and present itself as a financially stable nation in the international market. Further to the increase in the international operations by the countries in the Middle East and the Far East, the Bank for International Settlements developed a framework to co-ordinate the international financial operations as well as create a portfolio for the capital measurement and capital standards which every nation involving in international banking operations is expected to adopt in order to stabilise and put in order the international transactions between countries. The Basel II accord produced by Basel Committee on Banking Supervision aims at achieving International Convergence of Capital Measurement and Capital Standards. The arrangement aims to set a minimum standard to be met by its participating nations in order to achieve capital adequacy by the participating nations in the international market. This report aims at analysing the effects of Basel II accord on Qatar’s banking sector. The objectives of this report are stated below: To analyse the Basel II accord and it’s framework for measuring capital adequacy in the nations participating in the international banking transaction. To investigate the banking sector of Qatar and the effect of Basel II accord on its international operations and capital adequacy. To analyse the effect of Basel II accord on the nation’s two major banks having international operations in Qatar namely, Qatar Industrial Development Bank (QIDB) and Commercial Bank of Qatar (CBQ) and to analyse the impact of Basel II Accord on the Banking Sector of Qatar. Report Outline: The report comprises of the following chapters. Chapter 1: Introduction This chapter introduces the reader to the objectives of the report and presents a broad picture of the report to the reader. Chapter 2: Overview of Basel II Accord This chapter presents with an overview of the Basel II accord. The three pillars of Basel II accord namely Minimum Capital Requirements, Supervisory Review Process and Market Discipline are analysed in detail to provide the reader with a detailed understanding of the consent of Basel Committee on Banking Supervision. Chapter 3: Implications and Critical Analysis of Basel II Accord The literature review on the Basel II Accord in chapter 2 is followed by the critical analysis and its implications on nations (business and political) are presented to the reader before proceeding to present the overview of the Qatar Banking sector.    Chapter 4: Overview of Qatar and its Banking Sector This chapter presents the reader with an overview of Qatar as a nation and its business operations in the International market. Alongside, the chapter analyses the country’s growth in the banking sector and its internationally active banks. Chapter 5: Case Study This chapter conducts a case study analysis on Qatar’s two internationally active banks namely Qatar Industrial Development Bank (QIDB) and Commercial Bank of Qatar (CBQ). The effect of Basel II accord on the banks along with an overview of the bank is presented to the reader. The data used to present the case study is primarily obtained from secondary sources like journals, reports and white papers. This is apparently due the fact that the analysis is conducted on a foreign nation as well as the data available from the secondary sources are also reliable as they are published by legitimate organizations and popular journals.   Chapter 6: Results and Discussions The results of the case study analysis and discussions are carried out in this chapter. This chapter aims to present a clearer picture to the reader on the effects of the Basel II accord on the banks analysed. Chapter 7:   Conclusion and Recommendations The conclusions derived from the case results and discussions on the case study and the overall conclusion on the effect of Basel I accord on the Qatar Banking Sector is presented in this chapter. Alongside, this chapter presents a few constructive recommendations based on the results and discussion on the case study. Chapter 2: Overview of Basel II Accord This chapter begins with an overview of the Bank for International Settlements followed by a detailed analysis of the Basel II accord. The Basel II committee is also analysed alongside in order to provide a deeper insight to the readers. 2.1 Bank for International Settlements Overview and it’s Operations The Bank for International Settlements (Bank for International Settlements) is an international organization looking after international monetary and financial co-operation across the globe. This organization acts as the bank for all the central banks of countries participating in the international finance and banking. The Bank for International Settlements profile states that the bank achieves the aforementioned statement through acting as A forum to promote discussion and facilitate decision-making processes among central banks and within the international financial and supervisory community. A centre for economic and monetary research A prime counter party for central banks in their financial transactions and Agent or trustee in connection with international financial operations. Established in 17th Many 1930, it is the oldest financial organization at the international level. The Bank for International Settlements has three major decision making bodies within the bank to achieve its mission. They are The general meeting of member central banks This meeting is held before the end of four months of the end of the banks annual financial year. The meeting addresses all the issues related to business and the member central banks gather to approve the annual financial statement released by the bank. The Board of Directors The board of directors comprise the central bank governors elected from various participating countries. They monitor the overall operation of the bank and take responsibility for actions to be taken and address issues related to disputes and other major international financial cross border problems. The Management Committee The management committee is the first line representative of the Bank for International Settlements and addresses the day-to-day activities of the bank. This committee primarily manages the monetary and financial co-operation services. The services include Meetings: Apart from the Annual general meeting the Bank for International Settlements organizes meetings on a bimonthly basis. This meeting brings the member central banks together with the aim of monitoring the global economic and financial development and discusses issues on its policies in relation to the monetary and financial stability. Committees and Secretariats Bank for International Settlements has several committees to monitor specific problems and issues in the international finance and cross border loans. Alongside, several other committees and organizations focusing on international financial systems have their secretariats in the Bank for International Settlements and work closely with the bank in order to enhance the overall international banking and cross border finance. Basel committee of the Bank for International Settlements is the committee that laid the specifications for capital measurement and capital standard of the central banks participating in the international banking. Research and Statistics: In order to support its meetings and the activities of the organization’s Basel based committees the Bank for International Settlements carries out regular research on economic, monetary, financial and legal areas of the international banking and cross border finance. Investment services for central banks: Bank for International Settlements also provides security, liquidity and return for its central bank members. The three primary points with respect to this identified by the organization are To provide security, the Bank has built up a sizeable equity capital and ample reserves. It pursues an investment strategy focused on combining diversification benefits with intensive credit and market risk analysis. To ensure liquidity, the Bank stands ready to repurchase its tradable instruments at little cost to its customers and thus respond quickly and flexibly to their needs. The BIS offers an attractive and competitive return on the funds deposited by central banks and international organisations The Bank for International Settlements focuses on serving the financial needs of central banks of the member countries. Alongside, it also acts as a banker managing the funds for numerous international financial institutions. 2.2: Basel committee Overview The Basel committee was established the member central banks of the Bank for International Settlements in order to create a standard for the international banking and capital framework for crass border finance and lending. The committee was initially set up in 1970 and meets regularly four times a year to discuss the progress in international banking and address issues related to business in this context. The member nations of the committee include Belgium, Canada, France, Germany, Italy, Japan, Luxembourg, the Netherlands, Spain, Sweden, Switzerland, United Kingdom and United States. The country’s central bank and financial institutions that are not active in banking commercially but monitor the financial operations of the nation both at national and international levels represent the nations. The committee does no possess any authority over its member nations banking systems and the decisions of the committee are never intended to have a legal force on its member nations. The Central bank governors of the Group ten countries endorse the committee’s major initiatives. Also the committee reports to the group ten countries central bank governors. The committee first proposed he capital measurement system in 1988 commonly referred to as ‘Basel Capital Accord’. The committee aims in supervising the international banking operations of the nations across the globe. The decisions of the committee endorsed by the group ten countries address various financial issues in the international market outside the groups as well. The major aim of the committee is the ‘close the gaps in international supervisory coverage’ and to ensure that no foreign banking systems escapes the supervision in order to establish a harmony among the member nations of the Bank for International Settlements as well as in the international market. The committee has promoted supervisory standards in the past few years. Some of its major milestones include the following 1997: Cover Principles for effective banking supervision 1999: Core Principles methodology The committee also presented the Basel II accord with revision on international capital framework. This aims to standardise the capital framework of every bank participating in the international banking as well as sets slabs for minimum capital holdings to be met by the banks in order to qualify for international operations. The committee has numerous subgroups to perform specific tasks of the committee in order to achieve the overall motto of the committee. They are listed below Accord Implementation Group Accounting Task Force Capital Group Capital Task Force Core Principles Liaison Group (with 16 non-G10 countries) Cross-Border Banking Group Electronic Banking Group Joint Forum (with IAIS and IOSCO) Joint IOSCO BCBS Working Group on Trading Book Research Task Force Risk Management Group Securitisation Group Transparency Group The next section provides a detailed analysis of the Basel II accord and its various implications on international banking is discussed in chapter 3. 2.3 The Basel II Accord The Basel II accord was released in June 2004 further to the release of the Basel Accord in 2003. The Basel II is a revised edition of the initial Basel capital accord. It is a framework designed to derive the capital holdings of internationally active banks to meet the international standards and sets a minimum level of capital holding which is a primary criteria for the banks. The Basel II framework is aimed to be applied on a consolidated basis over internationally active banks in order to preserve the integrity of capital in the banks with subsidiaries. Also the framework eliminates the double gearing through this approach. The Basel II accord’s framework is also applied on a fully consolidated basis on any parent holding company which acts as a parent entity within a banking group in order to capture the risk on a consolidated basis without missing any element that contributes considerably to the risk of the overall banking system. Alongside, the framework is also applicable to all internationally active banks at every tier of the banking group. Apart from the aforementioned statements one of the principal objectives of the Basel II Accord is to protect the interest of the depositors essentially to ensure that capital recognised capital adequacy measures is readily available for the depositors. Apparently, these measures are aimed to establish a common platform for international banking and cross border finance across the globe. The scope of application extends to the following segments of the international banking and finance entities. Banking, securities and other financial subsidiaries Significant minority investments in banking securities Insurance entities Significant investment in commercial entities. Deduction of investment pursuant to this part The aforementioned entities are obtained from the Basel Committee report on International Convergence of Capital Measurement and Capital Standards, published in June 2004. The Basel II accord overview is based on this report. The illustration in the fig 1 gives a clear picture of the overall scope of application of the Basel II accord. The Basel II accord is split into three pillars. The first Pillar: Minimum Capital Requirements This is the very important pillar of the Basel II Accord. This pillar has very clear definitions of the Accord’s application on the credit risks and operational risk along with the Trading Book issues that are vital for international banking establishment. The layout in fig 2 reproduced from the Basel II report provides the inner picture of the First Pillar. The following subsections provide a detailed analysis on the elements shown in fig 2. 2.4: The First Pillar The First pillar lays down the minimum capital requirements that every internationally active bank should incorporate.   It is split into the following subsection. 2.4.1:   Calculation of Minimum capital requirements The minimum capital requirement is calculated as a measure of the capital ration. The capital ratio in turn is calculated using the regulatory capital and risk-weighted assets. The requirement of this criterion is that the capital ration must be a minimum of 8% or more in order to be eligible for the international activities. Also, in case of a two tier system the capital in tier 2 must not be greater than the tier 1 capital (i.e.) the tier 2 capital can be a maximum of 100% of the tier 1 capital. The capital is accounted from the following sources    Regulatory capital: The minimum accounting capital requirements for the financial institution encompasses the regulatory capital. The Basel II accord has withdrawn the provision to include general provisions in tire 2 capital, which was in effect in the 1988 Accord under the Internal Ratings-Based (IRB) approach.   Furthermore the accord has lain down that the banks using the Internal Ratings Based approach to their other assets mu st compare the amount of total eligible provision with the total expected losses amount to the bank. This eventually increases the capital holding of the bank in order to meet the criteria. Risk Weighted Assets: The Basel II Accord calculates the total risk-weighted assets by multiplying the capital requirement for market risk and operational risk by the reciprocal of the minimum capital ratio of 8% and adding the resulting value to the sum of risk weighted assets for credit risk. Even though this is subject to review the approach lays enormous burden on the bank to increase its minimum capital holdings. Apparently the Basel II Accord is aiming to establish that the internationally active banks must have enough capital to meet its short comings without depending on loans and cross border finance to address its immediate requirements and short comings. The idea though being novel is very intense for the banks to maintain the required minimum capital. Transitional Arrangements: The Accord has also stated that the banks following the Internal Ratings-Based approach or the Advanced Measurements Approach (AMA) that there will be a capital floor after the implementation of the Basel II framework. The adjustment factors used in both the internal ratings-based approach and the advanced measurements approach for calculating the capital floor as per the definition of the Basel II framework is shown in fig 3 below. 2.4.2: Credit Risk-The Standardised Approach Under this method the Basel committee provides the internationally active banks a choice for calculating their capital requirements for credit risk. The first approach is the standardised method of measuring the credit risk through support from external credit assessments. This method is approved by the Basel committee while the other method is yet to explicitly approved by the committee. Under the alternate method of calculating the credit risk, the bank supervisor can allow banks to use their internal rating systems for calculating the credit risk. Under both the methodologies one should not oversee the fact that the Basel committee is very keen in assessing the credit risk on the capital holdings of the internationally active banks. Even though this is appreciated, the rules are very stringent making it very difficult for the banks for adopt easily. 2.4.3 Credit Risk- Internal Ratings Based Approach The Basel II committee has given supervisory approval for banks to use the Internal Ratings-Based approach to determine their capital requirement for a given exposure subject to certain minimum conditions and disclosure requirements. The risk components considered include Measures of the probability of default (PD), Loss given default (LGD), The exposure at default (EAD), Effective maturity (M) The Basel II accord states that â€Å"The Internal Ratings Based Approach is based on the measure of unexpected loses (UL) and Expected Loses (EL). Under the Internal Ratings Based Approach, the committee expects the bank to categories their exposures in order to identify the different underlying risk characteristics. The categories include corporate, sovereign, bank, retail and equity. These are identified as the corporate asset classes and the approach further expects the bank to identify the subclasses associated with the asset classes in order to measure the credit risk associated with the exposure. The detailed analysis of every corporate class and its associated subclasses is beyond the scope of this report. In essence the Internal Ratings Based Approach gives the bank more liberty to calculate its credit-risk on the minimum capital requirement for a given exposure. But the producers laid by the Basel II Accord is very tedious to adopt and implement for every corporate class exposure and identifying the subclasses associated. 2.4.4: Credit Risk- Securitisation Framework The Basel Committee in its revised accord, has made it mandatory for the banks to apply the Securitisation Framework for determining regulatory capital requirements on exposure arising from traditional and synthetic Securitisation or similar structures that contain features common to both.   The Basel II accord also states that the capital treatment of the Securitisation exposure must be determined on the basis of the economic substance rather than the legal form of the structure. It is apparent that the securities can be structured in many different ways and the committee has approved the use of either the traditional Securitisation or the synthetic Securitisation framework. Also the Basel II accord expects the supervisor to look at the economic substance of transaction in order to determine whether it should be subject to Securitisation framework or not. This gives the discretionary power to the supervisor to decide on a specific transaction whether to include it in the framework or to eliminate it from the framework towards determining the regulatory capital framework. The traditional Securitisation and the synthetic Securitisation framework are discussed below. Traditional Securitisation: The Basel II Accord defines the traditional framework as â€Å"a structure where the cash flow from an underlying pool of exposures is used to service at least two different stratified risk positions or tranches reflecting different degrees of credit risk†. The advantage with this approach is that the payment to the investors is based on the performance of the specified underlying exposures rather than a derivation from an obligation of the entity originating those exposures. Synthetic Securitisation â€Å"A synthetic Securitisation is a structure with at least two different stratified risk positions or tranches that reflect different degrees of credit risk where credit risk of an underlying pool of exposures is transferred, in whole or in part, through the use of funded (e.g. credit-linked notes) or un-funded (e.g. credit default swaps) credit derivatives or guarantees that serve to hedge the credit risk of the portfolio†. This approach leaves the return to the investors in the hands of the performance of the underlying pool. Apparently, the risk associated is higher since the performance can be affected by numerous causes. From the above-mentioned approaches the Basel II accord’s stand for evaluating the capital and minimum capital requirements are evident. 2.4.5: Operational Risk The operational risk is defined by the Basel Committee as the risk associated with the loss resulting from inadequate or failed internal processes, people, systems or external events. This includes the legal risk with the exclusion of strategic and reputational risk. The Basel II Accord has approved three methods for calculating the operational risk and risk sensitivity with the implications on minimum capital requirements. They are: (i) The Basic indicator approach, (ii) the Standardised Approach and (iii) Advanced Measurement Approach. Basic Indicator Approach: In this case the banks should hold capital for the operational risk equal to the average over the past three years of a fixed percentage. This is expressed as a formula below KBIA = [ÃŽ £ (GI1†¦n x ÃŽ ±)]/n Where KBIA = the capital charge under the Basic Indicator Approach GI = annual gross income, where positive, over the previous three years n = number of the previous three years for which gross income is positive ÃŽ ± = 15%, which is set by the Committee, relating the industry wide level of required capital to the industry wide level of the indicator. This formula is obtained from the Basel II accord for the purpose of reader understanding. Standardised Approach: The standardised approach divides the bank’s activities into eight-business lines namely corporate finance, trading sales, retail banking, commercial banking, payment settlement, agency services, asset management, and retail brokerage. The likelihood of operational risk exposure is calculated from the gross income associated with each business line that serves as an indicator for the scale of business operations by the bank in that specific area of business or business line. This approach is very clumsy since the gross income associated with the business line varies due to numerous reasons both internal and external. Advanced Measurement Approach: The Advanced Measurement Approach equates the regulatory capital requirement with the risk measure generated by the bank’s internal operational risk measurement system using quantitative and qualitative criteria. The banks can use this method only after the approval by the Committee. The Basel II Accord sets the approach for the banks based on their international activity and significant operational risk exposures. Also, when a bank agrees to use a more sophisticated method, it cannot revert back to the easier method without approval from the supervisor. This eventually increases the burden on the banks to choose a sophisticated method. 2.4.6: Trading Book Issues The final segment of the first pillar is the trading book. Basel Committee defines the trading book as a container of both the financial instruments and commodities held either with trading intent or in order to hedge other elements of the trading book. The trading book forms a vital element for the bank since it is the record of the bank’s financial instruments as well as commodities. The Basel II Accord identifies four key principles for the supervisory process. They are listed below. The basic requirements for the eligibility to trading book capital treatment put forth by the Basel II Accord are as follows Clearly documented trading strategy for the position/instrument or portfolios, approved by senior management (which would include expected holding horizon). Clearly defined policies and procedures for the active management of the position Clearly defined policy and procedures to monitor the positions against the bank’s trading strategy including the monitoring of turnover and stale positions in the bank’s trading book 2.3: The Second Pillar- Supervisory Review Process Basel committee was initially set up for the supervising the internationally active banks and produce a common platform for the smooth transactions and cross border finance. The Basel II Accord has established Supervisory Process as one of the three pillars in order to emphasise its stand on supervisory process. The importance of supervisory process is described below. 2.3.1: Importance of Supervisory Process The supervisory review process of the Basel II Accord aims not only to ensure that banks have adequate capital to support all the risks in their business but also intends to encourage the banks to develop and use better risk management techniques in monitoring and managing risks. Alongside, the supervisory process by developing internal capital assessment process and setting capital targets that are commensurate with the bank’s risk profile recognises the importance for bank management in order to improve the atmosphere in the international banking and cross border finance. The Supervisory process evaluates the relationship between the amount of capital held by the bank against the risk, strength and effectiveness of the bank’s risk management eventually guiding the bank and supervising its activities in order to improve the performance of the banks in the international business market and cross border finance. 2.3.2 Four Key Principles of the supervisory review The four key principles identified by the Basel II Accord on the supervisory process is listed below. These principles emphasise on the committee’s focus on supervision and its aim to maintain harmony in the international banking and cross border finance. Principle 1: Banks should have a process for assessing their overall capital adequacy in relation to their risk profile and a strategy for maintaining their capital levels. Principle 2: Supervisors should review and evaluate banks’ internal capital adequacy assessments and strategies, as well as their ability to monitor and ensure their compliance with regulatory capital ratios. Supervisors should take appropriate supervisory action if they are not satisfied with the result of this process. Principle 3: Supervisors should expect banks to operate above the minimum regulatory capital ratios and should have the ability to require banks to hold capital in excess of the minimum. Principle 4: Supervisors should seek to intervene at an early stage to prevent capital from falling below the minimum levels required to support the risk characteristics of a particular bank and should require rapid remedial action if capital is not maintained or restored. 2.3.3: Issues to be addressed There are two specific issues to be addressed by the Supervisory-Review Process. They are Interest Rate Risk in the Banking book: Since it is clear that the Basel Committee’s primary focus is on identifying and preventing risk in the international b Effects of Basel II Accord on Qatar’s Banking Sector Effects of Basel II Accord on Qatar’s Banking Sector Chapter 1: Introduction International banking is increasingly vital for every country in order to create an image for itself in the international finance market. Alongside, the increase in globalisation and the upsurge in outsourcing by multinational companies in the west have created a lot of opportunities for growth in the Middle East and Far Eastern countries. This apparently requires a strong internationally stable financial organization to conduct transactions across the globe without any errors (i.e.) 100% accuracy.   This includes reliability and stability of the bank under extreme situations (like emergency for example), which is highly important to conduct international transactions. Also the potential to meet financial demands during crisis situations is a vital criterion that is considered while presenting themselves in the international market. In addition to the globalisation, outsourcing and export/import growth, there is also a tremendous growth in cross-border finance among the countries in the Middle East and Far East. Along with all these factors the developing nations in the Middle East face a mandatory requirement of a sable international banking system in order to attract foreign investment. The increase in cross border finance activity among the middle eastern countries is also a critical element to be considered for establishing a stable international bank within the nation in order to represent the country in the international finance market. The countries in the Middle East are actively participating in cross-border finance since the dawn of the 21st century. Being a producer of Oil which is a vital ingredient at all levels of life right from day-to-day driving up to power generation for the nation in order to run industries and serve domestic purposes, makes it critical for the nations in the Middle East to have a strong international banking system to conduct transactions across the globe accurately and effectively. Qatar is a growing nation in the Middle East with primary operations in oil and gas export as well increasing its potential in areas of development in technology focusing on IT and communication. The nation has efficient international operations and con ducts financial transactions between western nations as well as with eastern nations. Since the take over of the government by H.H. Sheikh Hamad Bin Khalifa in 1995, the country is making tremendous progress in deploying its hydrocarbon resources in order to penetrate in the international market and present itself as a financially stable nation in the international market. Further to the increase in the international operations by the countries in the Middle East and the Far East, the Bank for International Settlements developed a framework to co-ordinate the international financial operations as well as create a portfolio for the capital measurement and capital standards which every nation involving in international banking operations is expected to adopt in order to stabilise and put in order the international transactions between countries. The Basel II accord produced by Basel Committee on Banking Supervision aims at achieving International Convergence of Capital Measurement and Capital Standards. The arrangement aims to set a minimum standard to be met by its participating nations in order to achieve capital adequacy by the participating nations in the international market. This report aims at analysing the effects of Basel II accord on Qatar’s banking sector. The objectives of this report are stated below: To analyse the Basel II accord and it’s framework for measuring capital adequacy in the nations participating in the international banking transaction. To investigate the banking sector of Qatar and the effect of Basel II accord on its international operations and capital adequacy. To analyse the effect of Basel II accord on the nation’s two major banks having international operations in Qatar namely, Qatar Industrial Development Bank (QIDB) and Commercial Bank of Qatar (CBQ) and to analyse the impact of Basel II Accord on the Banking Sector of Qatar. Report Outline: The report comprises of the following chapters. Chapter 1: Introduction This chapter introduces the reader to the objectives of the report and presents a broad picture of the report to the reader. Chapter 2: Overview of Basel II Accord This chapter presents with an overview of the Basel II accord. The three pillars of Basel II accord namely Minimum Capital Requirements, Supervisory Review Process and Market Discipline are analysed in detail to provide the reader with a detailed understanding of the consent of Basel Committee on Banking Supervision. Chapter 3: Implications and Critical Analysis of Basel II Accord The literature review on the Basel II Accord in chapter 2 is followed by the critical analysis and its implications on nations (business and political) are presented to the reader before proceeding to present the overview of the Qatar Banking sector.    Chapter 4: Overview of Qatar and its Banking Sector This chapter presents the reader with an overview of Qatar as a nation and its business operations in the International market. Alongside, the chapter analyses the country’s growth in the banking sector and its internationally active banks. Chapter 5: Case Study This chapter conducts a case study analysis on Qatar’s two internationally active banks namely Qatar Industrial Development Bank (QIDB) and Commercial Bank of Qatar (CBQ). The effect of Basel II accord on the banks along with an overview of the bank is presented to the reader. The data used to present the case study is primarily obtained from secondary sources like journals, reports and white papers. This is apparently due the fact that the analysis is conducted on a foreign nation as well as the data available from the secondary sources are also reliable as they are published by legitimate organizations and popular journals.   Chapter 6: Results and Discussions The results of the case study analysis and discussions are carried out in this chapter. This chapter aims to present a clearer picture to the reader on the effects of the Basel II accord on the banks analysed. Chapter 7:   Conclusion and Recommendations The conclusions derived from the case results and discussions on the case study and the overall conclusion on the effect of Basel I accord on the Qatar Banking Sector is presented in this chapter. Alongside, this chapter presents a few constructive recommendations based on the results and discussion on the case study. Chapter 2: Overview of Basel II Accord This chapter begins with an overview of the Bank for International Settlements followed by a detailed analysis of the Basel II accord. The Basel II committee is also analysed alongside in order to provide a deeper insight to the readers. 2.1 Bank for International Settlements Overview and it’s Operations The Bank for International Settlements (Bank for International Settlements) is an international organization looking after international monetary and financial co-operation across the globe. This organization acts as the bank for all the central banks of countries participating in the international finance and banking. The Bank for International Settlements profile states that the bank achieves the aforementioned statement through acting as A forum to promote discussion and facilitate decision-making processes among central banks and within the international financial and supervisory community. A centre for economic and monetary research A prime counter party for central banks in their financial transactions and Agent or trustee in connection with international financial operations. Established in 17th Many 1930, it is the oldest financial organization at the international level. The Bank for International Settlements has three major decision making bodies within the bank to achieve its mission. They are The general meeting of member central banks This meeting is held before the end of four months of the end of the banks annual financial year. The meeting addresses all the issues related to business and the member central banks gather to approve the annual financial statement released by the bank. The Board of Directors The board of directors comprise the central bank governors elected from various participating countries. They monitor the overall operation of the bank and take responsibility for actions to be taken and address issues related to disputes and other major international financial cross border problems. The Management Committee The management committee is the first line representative of the Bank for International Settlements and addresses the day-to-day activities of the bank. This committee primarily manages the monetary and financial co-operation services. The services include Meetings: Apart from the Annual general meeting the Bank for International Settlements organizes meetings on a bimonthly basis. This meeting brings the member central banks together with the aim of monitoring the global economic and financial development and discusses issues on its policies in relation to the monetary and financial stability. Committees and Secretariats Bank for International Settlements has several committees to monitor specific problems and issues in the international finance and cross border loans. Alongside, several other committees and organizations focusing on international financial systems have their secretariats in the Bank for International Settlements and work closely with the bank in order to enhance the overall international banking and cross border finance. Basel committee of the Bank for International Settlements is the committee that laid the specifications for capital measurement and capital standard of the central banks participating in the international banking. Research and Statistics: In order to support its meetings and the activities of the organization’s Basel based committees the Bank for International Settlements carries out regular research on economic, monetary, financial and legal areas of the international banking and cross border finance. Investment services for central banks: Bank for International Settlements also provides security, liquidity and return for its central bank members. The three primary points with respect to this identified by the organization are To provide security, the Bank has built up a sizeable equity capital and ample reserves. It pursues an investment strategy focused on combining diversification benefits with intensive credit and market risk analysis. To ensure liquidity, the Bank stands ready to repurchase its tradable instruments at little cost to its customers and thus respond quickly and flexibly to their needs. The BIS offers an attractive and competitive return on the funds deposited by central banks and international organisations The Bank for International Settlements focuses on serving the financial needs of central banks of the member countries. Alongside, it also acts as a banker managing the funds for numerous international financial institutions. 2.2: Basel committee Overview The Basel committee was established the member central banks of the Bank for International Settlements in order to create a standard for the international banking and capital framework for crass border finance and lending. The committee was initially set up in 1970 and meets regularly four times a year to discuss the progress in international banking and address issues related to business in this context. The member nations of the committee include Belgium, Canada, France, Germany, Italy, Japan, Luxembourg, the Netherlands, Spain, Sweden, Switzerland, United Kingdom and United States. The country’s central bank and financial institutions that are not active in banking commercially but monitor the financial operations of the nation both at national and international levels represent the nations. The committee does no possess any authority over its member nations banking systems and the decisions of the committee are never intended to have a legal force on its member nations. The Central bank governors of the Group ten countries endorse the committee’s major initiatives. Also the committee reports to the group ten countries central bank governors. The committee first proposed he capital measurement system in 1988 commonly referred to as ‘Basel Capital Accord’. The committee aims in supervising the international banking operations of the nations across the globe. The decisions of the committee endorsed by the group ten countries address various financial issues in the international market outside the groups as well. The major aim of the committee is the ‘close the gaps in international supervisory coverage’ and to ensure that no foreign banking systems escapes the supervision in order to establish a harmony among the member nations of the Bank for International Settlements as well as in the international market. The committee has promoted supervisory standards in the past few years. Some of its major milestones include the following 1997: Cover Principles for effective banking supervision 1999: Core Principles methodology The committee also presented the Basel II accord with revision on international capital framework. This aims to standardise the capital framework of every bank participating in the international banking as well as sets slabs for minimum capital holdings to be met by the banks in order to qualify for international operations. The committee has numerous subgroups to perform specific tasks of the committee in order to achieve the overall motto of the committee. They are listed below Accord Implementation Group Accounting Task Force Capital Group Capital Task Force Core Principles Liaison Group (with 16 non-G10 countries) Cross-Border Banking Group Electronic Banking Group Joint Forum (with IAIS and IOSCO) Joint IOSCO BCBS Working Group on Trading Book Research Task Force Risk Management Group Securitisation Group Transparency Group The next section provides a detailed analysis of the Basel II accord and its various implications on international banking is discussed in chapter 3. 2.3 The Basel II Accord The Basel II accord was released in June 2004 further to the release of the Basel Accord in 2003. The Basel II is a revised edition of the initial Basel capital accord. It is a framework designed to derive the capital holdings of internationally active banks to meet the international standards and sets a minimum level of capital holding which is a primary criteria for the banks. The Basel II framework is aimed to be applied on a consolidated basis over internationally active banks in order to preserve the integrity of capital in the banks with subsidiaries. Also the framework eliminates the double gearing through this approach. The Basel II accord’s framework is also applied on a fully consolidated basis on any parent holding company which acts as a parent entity within a banking group in order to capture the risk on a consolidated basis without missing any element that contributes considerably to the risk of the overall banking system. Alongside, the framework is also applicable to all internationally active banks at every tier of the banking group. Apart from the aforementioned statements one of the principal objectives of the Basel II Accord is to protect the interest of the depositors essentially to ensure that capital recognised capital adequacy measures is readily available for the depositors. Apparently, these measures are aimed to establish a common platform for international banking and cross border finance across the globe. The scope of application extends to the following segments of the international banking and finance entities. Banking, securities and other financial subsidiaries Significant minority investments in banking securities Insurance entities Significant investment in commercial entities. Deduction of investment pursuant to this part The aforementioned entities are obtained from the Basel Committee report on International Convergence of Capital Measurement and Capital Standards, published in June 2004. The Basel II accord overview is based on this report. The illustration in the fig 1 gives a clear picture of the overall scope of application of the Basel II accord. The Basel II accord is split into three pillars. The first Pillar: Minimum Capital Requirements This is the very important pillar of the Basel II Accord. This pillar has very clear definitions of the Accord’s application on the credit risks and operational risk along with the Trading Book issues that are vital for international banking establishment. The layout in fig 2 reproduced from the Basel II report provides the inner picture of the First Pillar. The following subsections provide a detailed analysis on the elements shown in fig 2. 2.4: The First Pillar The First pillar lays down the minimum capital requirements that every internationally active bank should incorporate.   It is split into the following subsection. 2.4.1:   Calculation of Minimum capital requirements The minimum capital requirement is calculated as a measure of the capital ration. The capital ratio in turn is calculated using the regulatory capital and risk-weighted assets. The requirement of this criterion is that the capital ration must be a minimum of 8% or more in order to be eligible for the international activities. Also, in case of a two tier system the capital in tier 2 must not be greater than the tier 1 capital (i.e.) the tier 2 capital can be a maximum of 100% of the tier 1 capital. The capital is accounted from the following sources    Regulatory capital: The minimum accounting capital requirements for the financial institution encompasses the regulatory capital. The Basel II accord has withdrawn the provision to include general provisions in tire 2 capital, which was in effect in the 1988 Accord under the Internal Ratings-Based (IRB) approach.   Furthermore the accord has lain down that the banks using the Internal Ratings Based approach to their other assets mu st compare the amount of total eligible provision with the total expected losses amount to the bank. This eventually increases the capital holding of the bank in order to meet the criteria. Risk Weighted Assets: The Basel II Accord calculates the total risk-weighted assets by multiplying the capital requirement for market risk and operational risk by the reciprocal of the minimum capital ratio of 8% and adding the resulting value to the sum of risk weighted assets for credit risk. Even though this is subject to review the approach lays enormous burden on the bank to increase its minimum capital holdings. Apparently the Basel II Accord is aiming to establish that the internationally active banks must have enough capital to meet its short comings without depending on loans and cross border finance to address its immediate requirements and short comings. The idea though being novel is very intense for the banks to maintain the required minimum capital. Transitional Arrangements: The Accord has also stated that the banks following the Internal Ratings-Based approach or the Advanced Measurements Approach (AMA) that there will be a capital floor after the implementation of the Basel II framework. The adjustment factors used in both the internal ratings-based approach and the advanced measurements approach for calculating the capital floor as per the definition of the Basel II framework is shown in fig 3 below. 2.4.2: Credit Risk-The Standardised Approach Under this method the Basel committee provides the internationally active banks a choice for calculating their capital requirements for credit risk. The first approach is the standardised method of measuring the credit risk through support from external credit assessments. This method is approved by the Basel committee while the other method is yet to explicitly approved by the committee. Under the alternate method of calculating the credit risk, the bank supervisor can allow banks to use their internal rating systems for calculating the credit risk. Under both the methodologies one should not oversee the fact that the Basel committee is very keen in assessing the credit risk on the capital holdings of the internationally active banks. Even though this is appreciated, the rules are very stringent making it very difficult for the banks for adopt easily. 2.4.3 Credit Risk- Internal Ratings Based Approach The Basel II committee has given supervisory approval for banks to use the Internal Ratings-Based approach to determine their capital requirement for a given exposure subject to certain minimum conditions and disclosure requirements. The risk components considered include Measures of the probability of default (PD), Loss given default (LGD), The exposure at default (EAD), Effective maturity (M) The Basel II accord states that â€Å"The Internal Ratings Based Approach is based on the measure of unexpected loses (UL) and Expected Loses (EL). Under the Internal Ratings Based Approach, the committee expects the bank to categories their exposures in order to identify the different underlying risk characteristics. The categories include corporate, sovereign, bank, retail and equity. These are identified as the corporate asset classes and the approach further expects the bank to identify the subclasses associated with the asset classes in order to measure the credit risk associated with the exposure. The detailed analysis of every corporate class and its associated subclasses is beyond the scope of this report. In essence the Internal Ratings Based Approach gives the bank more liberty to calculate its credit-risk on the minimum capital requirement for a given exposure. But the producers laid by the Basel II Accord is very tedious to adopt and implement for every corporate class exposure and identifying the subclasses associated. 2.4.4: Credit Risk- Securitisation Framework The Basel Committee in its revised accord, has made it mandatory for the banks to apply the Securitisation Framework for determining regulatory capital requirements on exposure arising from traditional and synthetic Securitisation or similar structures that contain features common to both.   The Basel II accord also states that the capital treatment of the Securitisation exposure must be determined on the basis of the economic substance rather than the legal form of the structure. It is apparent that the securities can be structured in many different ways and the committee has approved the use of either the traditional Securitisation or the synthetic Securitisation framework. Also the Basel II accord expects the supervisor to look at the economic substance of transaction in order to determine whether it should be subject to Securitisation framework or not. This gives the discretionary power to the supervisor to decide on a specific transaction whether to include it in the framework or to eliminate it from the framework towards determining the regulatory capital framework. The traditional Securitisation and the synthetic Securitisation framework are discussed below. Traditional Securitisation: The Basel II Accord defines the traditional framework as â€Å"a structure where the cash flow from an underlying pool of exposures is used to service at least two different stratified risk positions or tranches reflecting different degrees of credit risk†. The advantage with this approach is that the payment to the investors is based on the performance of the specified underlying exposures rather than a derivation from an obligation of the entity originating those exposures. Synthetic Securitisation â€Å"A synthetic Securitisation is a structure with at least two different stratified risk positions or tranches that reflect different degrees of credit risk where credit risk of an underlying pool of exposures is transferred, in whole or in part, through the use of funded (e.g. credit-linked notes) or un-funded (e.g. credit default swaps) credit derivatives or guarantees that serve to hedge the credit risk of the portfolio†. This approach leaves the return to the investors in the hands of the performance of the underlying pool. Apparently, the risk associated is higher since the performance can be affected by numerous causes. From the above-mentioned approaches the Basel II accord’s stand for evaluating the capital and minimum capital requirements are evident. 2.4.5: Operational Risk The operational risk is defined by the Basel Committee as the risk associated with the loss resulting from inadequate or failed internal processes, people, systems or external events. This includes the legal risk with the exclusion of strategic and reputational risk. The Basel II Accord has approved three methods for calculating the operational risk and risk sensitivity with the implications on minimum capital requirements. They are: (i) The Basic indicator approach, (ii) the Standardised Approach and (iii) Advanced Measurement Approach. Basic Indicator Approach: In this case the banks should hold capital for the operational risk equal to the average over the past three years of a fixed percentage. This is expressed as a formula below KBIA = [ÃŽ £ (GI1†¦n x ÃŽ ±)]/n Where KBIA = the capital charge under the Basic Indicator Approach GI = annual gross income, where positive, over the previous three years n = number of the previous three years for which gross income is positive ÃŽ ± = 15%, which is set by the Committee, relating the industry wide level of required capital to the industry wide level of the indicator. This formula is obtained from the Basel II accord for the purpose of reader understanding. Standardised Approach: The standardised approach divides the bank’s activities into eight-business lines namely corporate finance, trading sales, retail banking, commercial banking, payment settlement, agency services, asset management, and retail brokerage. The likelihood of operational risk exposure is calculated from the gross income associated with each business line that serves as an indicator for the scale of business operations by the bank in that specific area of business or business line. This approach is very clumsy since the gross income associated with the business line varies due to numerous reasons both internal and external. Advanced Measurement Approach: The Advanced Measurement Approach equates the regulatory capital requirement with the risk measure generated by the bank’s internal operational risk measurement system using quantitative and qualitative criteria. The banks can use this method only after the approval by the Committee. The Basel II Accord sets the approach for the banks based on their international activity and significant operational risk exposures. Also, when a bank agrees to use a more sophisticated method, it cannot revert back to the easier method without approval from the supervisor. This eventually increases the burden on the banks to choose a sophisticated method. 2.4.6: Trading Book Issues The final segment of the first pillar is the trading book. Basel Committee defines the trading book as a container of both the financial instruments and commodities held either with trading intent or in order to hedge other elements of the trading book. The trading book forms a vital element for the bank since it is the record of the bank’s financial instruments as well as commodities. The Basel II Accord identifies four key principles for the supervisory process. They are listed below. The basic requirements for the eligibility to trading book capital treatment put forth by the Basel II Accord are as follows Clearly documented trading strategy for the position/instrument or portfolios, approved by senior management (which would include expected holding horizon). Clearly defined policies and procedures for the active management of the position Clearly defined policy and procedures to monitor the positions against the bank’s trading strategy including the monitoring of turnover and stale positions in the bank’s trading book 2.3: The Second Pillar- Supervisory Review Process Basel committee was initially set up for the supervising the internationally active banks and produce a common platform for the smooth transactions and cross border finance. The Basel II Accord has established Supervisory Process as one of the three pillars in order to emphasise its stand on supervisory process. The importance of supervisory process is described below. 2.3.1: Importance of Supervisory Process The supervisory review process of the Basel II Accord aims not only to ensure that banks have adequate capital to support all the risks in their business but also intends to encourage the banks to develop and use better risk management techniques in monitoring and managing risks. Alongside, the supervisory process by developing internal capital assessment process and setting capital targets that are commensurate with the bank’s risk profile recognises the importance for bank management in order to improve the atmosphere in the international banking and cross border finance. The Supervisory process evaluates the relationship between the amount of capital held by the bank against the risk, strength and effectiveness of the bank’s risk management eventually guiding the bank and supervising its activities in order to improve the performance of the banks in the international business market and cross border finance. 2.3.2 Four Key Principles of the supervisory review The four key principles identified by the Basel II Accord on the supervisory process is listed below. These principles emphasise on the committee’s focus on supervision and its aim to maintain harmony in the international banking and cross border finance. Principle 1: Banks should have a process for assessing their overall capital adequacy in relation to their risk profile and a strategy for maintaining their capital levels. Principle 2: Supervisors should review and evaluate banks’ internal capital adequacy assessments and strategies, as well as their ability to monitor and ensure their compliance with regulatory capital ratios. Supervisors should take appropriate supervisory action if they are not satisfied with the result of this process. Principle 3: Supervisors should expect banks to operate above the minimum regulatory capital ratios and should have the ability to require banks to hold capital in excess of the minimum. Principle 4: Supervisors should seek to intervene at an early stage to prevent capital from falling below the minimum levels required to support the risk characteristics of a particular bank and should require rapid remedial action if capital is not maintained or restored. 2.3.3: Issues to be addressed There are two specific issues to be addressed by the Supervisory-Review Process. They are Interest Rate Risk in the Banking book: Since it is clear that the Basel Committee’s primary focus is on identifying and preventing risk in the international b

Critique of One Flew Over the Cuckoo?s Nest :: essays research papers

One Flew Over the Cuckoo’s Nest is hilarious and very enjoyable. It deals with several men patients in a psychiatric ward in Oregon. The majority of the play is extremely funny, however, it does have its serious moments. Its themes and ideas are clearly shown, which may help the viewer in relating it to his/her own life. The actors and actresses did a great job depicting their characters. One of the main characters was Chief Bromden, played by Cliff Williams. He not only a main character, but also the narrator of the play. The actor played him very well because the features of the actor were the same as the character in the play. He was tall and dark, resembling an Indian which chief Bromben really was. He is very paranoid as he tells the story of his life and sanity. He is also constantly being bullied by the assistants that work in the ward. They think he is deaf and dumb; however, he really is not. Towards the end of the play, he becomes stronger and is able to escape from the ward. Another important character is Randle McMurphy, played by Aren Chaisson III. He is loud, obnoxious, rude, and not afraid to tell the entire truth. He also tends to make sexual and degrading comments to women. Throughout the play he tries to make Nurse Ratched lose her temper. He even has a bet going with the rest of the men in the ward as to when she will lose it. The actor truly portrayed McMurphy well. He was loud and annoying. His appearance also seemed like what McMurphy’s probably was. The actor also made it clear to the audience that McMurphy is not actually crazy. Stacy Searle played Nurse Ratched, a very stern and army-like nurse. She appears very cold when she comes into the play, however, she softens up when the rest of the patients come out. She is very controlling and demanding. The actress that played her did a very good job. She was stern and mean, with a soft side too. She also physically looked the part. She was big- boned and big-chested. She had many characteristics of someone in the army. The set/setting was all around what I expected. It represented the play very well. Whenever Chief Bromben would speak to himself, the fog would come out with a red light. This showed that he was thinking to himself.

Deceit in Hunters in the Snow Essay

Tobias Wolff’s â€Å"Hunters in the Snow† centers on the actions and personalities of Kenny, Frank and Tub as they embark on a hunting trip during the winter. Each character faces problems (in character or otherwise) which they attempt to cover up through deception – the central theme in this short story – in order to accept their respective actions. The consequences of these cover ups profoundly change the power of each character over another. Furthermore, the characters don’t realize how their lies influence others around them. Kenny is a quintessential bully. His need for power over the other two causes him to assert control of any action be it driving or asking for permission to hunt on private grounds. In truth, he doesn’t even wish to ask for permission but is pressured by Frank to do so. Kenny’s seemingly flippant mannerisms also follow from his desire to be the alpha-male. He insults and mercilessly teases Frank and Tub about their insecurities. He pretends to desire to run over Tub after appearing an hour late and immediately silences any objection from Tub. However, he neither realizes how far he is pushing Tub nor the peril he is in. His stupid actions leading up to and after the murder of the old dog finally push Tub, who legitimately fears for his life, to retaliate. This immediately puts Kenny’s life at the hands of his bully victims and leaves a power vacuum to be filled. Tub’s main problem is his denial of the poor eating habits that he has. He adamantly tries to convince others that his problem is due to his glans despite acutely knowing that he gorges himself on unhealthy foods in solitude. The insecurity he feels about being found out causes him to become easily manipulated and bullied by Frank and Kenny. Moreover, the retaliation against Kenny only adds to the insecurity Tub has and he immediately searches for approval and protection against the consequence of shooting Kenny. Frank fills in this vacuum and manipulates Tub into siding with him. Frank himself faces the issue of adultery. His lust for another woman causes him to deceive himself into believing that this new female is the love of his life despite a small part of his conscience stating otherwise. He even goes as far as to perverse the beliefs of that small part by asserting that his reluctance is only due to the good that his wife had done him and the kids they had. Frank’s self-deception inadvertently acts on Tub’s insecurities, prompting Tub to open up about his problems to Frank. By deceiving himself to accept his adultery, Frank pushes Tub to accept the eating problems that Tub has by giving in to Tub’s urges. Frank is unaware that his acceptance of adultery has already influenced Tub to succumb to Tub’s desires (shown by the fact that Tub decides to open up to Frank). Each character has major issues that need to be corrected but prefer to deceive themselves and others than accept the truth and work towards correction. As such, Kenny lies in mortal peril, Frank gains newfound power in the group and over Tub, and Tub remains submissive to Frank’s wishes. Moreover, the newfound confidence in Frank leads him to ignore common sense in going back to retrieve vital directions to the hospital. The futures of these three characters is left hanging, however it is clear that the ending has each one moving down separate and erroneous paths.

Memento Essay Example

Memento Essay Example Memento Paper Memento Paper Essay Topic: Film A Polaroid photograph, clasped between finger and thumb, showing a crude, crime-scene flash picture of a mans body lying on a decaying wooden floor, a bloody mess where his head should be. The image in the photo starts to fade as we superimpose titles. The hand holding the photo suddenly fans it in a rapid flapping motion then holds it still. The image fades more, and again the picture is fanned. As the titles end, the image fades to nothing. The hand holding the photo flaps it again, then places it at the front of a Polaroid camera. The camera sucks the blank picture up, then the flash goes off. As the Polaroid fades to white, so we begin with a blank slate Its the story of Leonard Shelby (Guy Pearce), a man who proves as emotionally empty as the surname suggests. Unable to make new memories since a blow to the head during a raid on his apartment, he remains hell-bent on avenging his wifes death from that same assault. Hampered by his affliction, Leonard trawls the motels and bars of Southern California in an effort to gather evidence against the killer he believes is named John G. Tattooing scraps of evidence and information onto his body, Leonards faulty memory is abused by two others: bartender Natalie (Carrie-Anne Moss) and undercover cop Teddy (Joe Pantoliano), both involved in a lucrative drug deal. From the very beginning, director Christopher Nolan establishes that the structural arrangement of the narrative of this film will run backwards in a non linear fashion. Although the audience may not be fully aware of it now, they have just witnessed the end climax to the plot. This already captures the audiences attention, subconsciously allowing them to understand that Leonard has just erased the act of killing, the key to understanding the confusing, opened ending. Now that the audience has witnessed this rewound scene they are enticed into knowing the full story, something that they will have to wait for until they have pieced all the parts of the jigsaw together, a device that cleverly hooks the audience for the duration of the film. Essentially running backwards, the films end at the beginning only makes sense once the whole story has unfolded; each scene plays out with Lenny reconstructing the development of events for himself from scribbled notes, photos, maps and clues, only for the next scene to jump back and relate the events which led up to it. This framework of constant revisitation, revision and reconstruction puts the viewer in Lennys point of view: as he pieces events together so, gradually, do we, never fully knowing the full story, and more importantly, never completely knowing what Lenny has done and who he can trust. The film is a kind of narrative test of alertness; visual clues the scratches on Lennys cheek, the smashed window of his car, the comments on his Polaroid pictures and his memento tattoos all hint at the order of events but ensure that the solution, like the identity of the killer, lies tantalisingly out of reach right up to the end. Another visual clue is the parallel plot of the elusive Sammy Jenkins story. After the initial backward sequence we are faced with a short clip of Leonard sitting in his room, shot in black and white so that you know it is the counter plot, in which we can view the protagonists everyday life. Throughout the first ten minutes, and the rest of the film, we view snippets of the two plots pieced together so that just as we get to grips with one of the plots we are thrown back into the other. This plot unveils the tale of Sammy Jenkins, which we later find was a conman whom Leonard, in a state of extreme denial, has reconstructed as a pitiful victim, to enable him to forget that it was he, not Sammy, who killed his own wife. Nolan has deliberately run these two plots side by side, jumping from one to the other in this jigsaw narrative so that the audience can learn of the climax to the two plots at the same time, like a multi-stranded narrative. This helps to build the films tension and disenables the audience to work out the truth before Leonard does. Caught, like Leonard, in the films looping reverse narration, we cant help but cling to his flashbacks of Sammy Jenkins as having some kind of authority. It serves as a case history of Leonards condition and illuminates his attempts to snap out of it he hires a hooker to help him restage his memories of his last night with his wife, only to nod off and forget about it as well as adding an emotionally compelling counter-narrative to the chilly formal intelligence on display, enticing the audience further. The order of mementos narrative is intriguing as it challenges the theories of those such as Todorov. The usual components of narrative structure are composed of three parts in the following order; a beginning with an opening, a middle containing a conflict and an ending with a resolution. By contrasting to the traditional patterns of film, Memento plays with the audiences expectations of the equilibrium, disequilibrium and new equilibrium pattern. This contributes to the build in tension and anticipation. Memento also relates to the theory of Vladimir Propp, who was interested in the function of specific characters in narrative. He proposed that there were set character roles including the villain, the hero, the donor, the helper, the false hero, the princess and the dispatcher. However, even though Memento does not contain all of these roles, what with its small cast, but it does manage to question these. This is interesting because the characters roles as perceived by the audience change during the course of the film, what with it being in reverse. In the first ten minutes of memento Leonard is perceived as the hero, Natalie as the helper, princess and donor, and Teddy as the ambiguous John G. and hence villain. However, by the end of the film the audiences perceptions are completely reversed, with Natalie helping to wreck Leonards life and Teddy being an innocent victim. This is effective, adding to the upside down plot, challenging the audiences original perceptions. Memento also uses symbolic codes. Each scene in the first ten minutes has a memento which provides a link forward and back, helping the audience to understand the narrative. For example, in the first scene Leonard takes a Polaroid of Teddys dead body. In the next we have a contrasting memento; a Polaroid of the living Teddy which reads he ides the one, kill him and something scribbled out. In the next scene we see the Polaroid again however; it only says dont believe his lies where the scribble was. This assists in constructing the narrative as the audience can see what point in time they are at, helping the plot to flow more. Thus we can the initial narrative of memento appears extremely complex, which ultimately manages to make complete sense by the final chapter. Memento is a strange mix of several genres which all play a major part in this movie. It is ultimately a detective-thriller, with obvious film noir links to films such as point blank, for Memento is a skewed noir mystery at heart, peopled by manipulative femmes fatales and low-down lowlifes, whose visual settings diners, car-lots, beaten-up motels and set-pieces (including a chase scene in which Lenny forgets who is chasing who) conjure the films downbeat, hardboiled feel. It also bears a lot in common with the noir film Double Indemnity, both with a circular narrative, beginning as they end, the audience constantly aware of the protagonists fate. This typical iconography makes it clear in the audiences mind the genres of this film, which could subconsciously help the audience to unravel Leonards mystery. Even the themes of revenge and betrayal are telling noir characteristics. As a generic -hybrid, this film contains the appealing characteristics of a crime, drama, thriller; hence not only enabling the film to appeal to a wide and varied audience, but also preparing the spectators for an innovative and less conventional film. The film is clearly a detective-crime from the beginning, with the death of Teddy and Leonards conversations on the phone seeking information about John G, also the evidence such as John Gs number plate and description written down on the wall. The film also quickly establishes itself as a thriller, what with the suspense and tension built up within the first few minutes of Memento, which manages to sustain throughout the film. However, although it distinguishes its genres, it still manages to trick the audiences as to each characters role, referring back to Vladimir Propp, what with Leonard appearing the villain and Teddy the victim, and Natalie an innocent who turns out to be the films femme fatale. Thus we can see, Memento is a film in which being confusing, enthralling and frustrating, it revels in teasing and misleading its audience, both through genre typography and narrative structure. Its a mark of Nolans achievement that this final scene which seemingly completes the narrative jigsaw should cast a cloud over Leonards motives. Its a stunning tease, a tantalisingly ambiguous note on which to sign off, one that scatters our sense of certainty as we rerun the events of the past two hours in our heads.

Outline of the Rwandan Genocide Essay Example

Outline of the Rwandan Genocide Essay Example Outline of the Rwandan Genocide Paper Outline of the Rwandan Genocide Paper Outline of the Rwandan Genocide: Draft Introduction Rwanda is a small land-locked nation, about 26,338 square kilometres in size, bordered by Burundi, Democratic Republic of Congo, Uganda and Tanzania. Though mainly flat, the country has a large mountain range on its northwest coast – the Virunga Mountains – that are home to the famous Rwandan Mountain Gorillas. In 1994, this seemingly insignificant country put itself on the world map, but for all the wrong reasons. Over a period of just one hundred days, over 800,000 Rwandans were killed in one of the worst genocides of the 20th Century. Tutsis and their Hutu supporters (the two ethnic groups in Rwanda) were massacred by Hutu militias, who encouraged ordinary citizens to kill their Tutsi neighbours. Between April and July 1994, while Europe and America looked on, this African nation was plunged into a state of severe panic and fear. Ethnic Tension: Tutsis and Hutus Though considered two different ethnic groups, the Tutsis and Hutus speak the same language, inhabit the same regions, have the same customs and traditions, and have intermarried for generations. In fact, there are very little physical differences between the two groups at all. In 1916 when Belgian colonists arrived in Rwanda, they distinguished between the two groups and consequently began to treat them differently. They believed that the minority Tutsis were superior and offered them better jobs and education, leading to ethnic tension. It is believed by some historians that the two were never defined by ethnicity, but by class or caste. Traditionally, the Hutu herded cattle and grew crops, whereas the Tutsi herdsmen became the landowners, a leading position that may have led to the belief held by the Belgians. Ethnic tension grew, culminating with the loss of over 100,000 Tutsis during a Hutu rebellion from 1956 to 1959. During the early sixties, after independence was achieved in 1962, hundreds of thousands of Tutsis fled to neighbouring countries and were refused return by the Hutu governments. The desire to return to their homeland led to the formation of the Rwandan Patriotic Front (RPF) by Tutsi exiles in Uganda. Build Up to Genocide In 1973, Major General Juvenal Habyarimana, a northern Hutu, seized power in Rwanda. He attempted to overcome ethnic divisions, but failed due to the introduction of several anti-Tutsi measures such as their exclusion from secondary schools and universities. Discontent increased among the Rwandan people as many became impatient with the governments corrupt favouritism to northern Hutus. The post-1987 collapse of international coffee prices led to a severe economic decline in Rwanda, as coffee was their main exporter. These factors led to the 1990 Civil War, when the RPF invaded and fought against Habyarimana’s regime. In March 1992, a Transitional Coalition Government was formed, a cease-fire declared, a peace accord signed by Habyarimana and the RPF invasion halted with the assistance of the French military. Rwanda’s problems were not over however, and on April 6th 1994 a plane flying over Kigali (the nation’s capital), carrying Habyarimana and the president of Burundi, Cyprien Ntaryamira (also a Hutu), was shot down. Both men were killed. The Genocide Almost immediately political opponents of Habyarimana were murdered and the Akuza (Presidential Guard) launched a campaign of mass slaughter. Military officials, businessmen and politicians began organizing massacres. The Radio Television Libre des Mille Collines (a private radio station) called publicly for Tutsis to be killed wherever possible. Most killings were carried out by two unofficial all-Hutu militia groups – the Interahamwe (National Revolutionary Movement for Development) and the Impuzamugambi (Coalition for the Defense of Freedom). At its peak, the Interahamwe had 30,000 members united by a commitment to wiping out the Tutsis. As well as Tutsis of all ages and backgrounds, Hutus who supported ethnic reconciliation were also targeted. Public massacres (in churches, for example) were common and carried out almost entirely by hand, using clubs, machetes, sticks, axes and spears. Ordinary Hutu citizens were forced to kill their Tutsi neighbours – often people whom they had lived beside for many years and befriended. In the country, Hutu chiefs prepared â€Å"death lists† of local Tutsis, rounded up victims and made suitable sites available for massacres. Reaction: The Rwandan Patriotic Front In defense to this ruthless killing, the 14,000-man Tutsi-dominated RPF launched an offensive against the killers. Finally, in mid-July, they defeated the 35,000-man army and the militias, drove the remnants of the army and government into Zaire (now the Democratic Republic of Congo), and took control of the capital Kigali, declaring a ceasefire. United Nations aid workers and troops arrived to maintain order and bring back basic services. A multi-ethnic government took power, led by Hutu President Pasteur Bizimunga, Hutu Prime Minister Faustin Twagiramunga, and Tutsi Vice President/Minister of Defense Major General Paul Kagame, commander of the RPF. Most other cabinet posts were given to members of the RPF. After the Genocide: Refugees and International Support Following the end of the genocide in July and August 1994, two million Hutu civilians fled, joining one million already in exile. In Zaire, the destination of most refugees, sick and starving Hutu exiles were dying at an appalling rate of 2000 per day. The government encouraged them to return to the food, water and relative safety waiting for them in Rwanda, but fears spread by former government troops that Hutus would be prosecuted on return prevent many from going home. Genocide Trials did not start until the end of 1996 when many had eventually returned, but are still expected to take years to complete. In 1999, more than 120,000 citizen accused of involvement in the genocide were packed into overcrowded jails. Rwanda is still suffering because of the genocide fourteen years ago. Genocide trials are still under way and the government is gradually trying to improve living standards in their country. Families are still struggling with the loss of so many friends and relatives; one tenth of Rwanda’s population (800. 000 out of 8,000,000) was killed in just those one hundred days. One of the main issues still in debate today is the lack of action of the international community. Over 2500 UNAMIR (United Nations Assistance Mission to Rwanda) agents had been stationed in the country since 1993, but all but 270 were withdrawn shortly after the start of the genocide. The UN refused to call the events â€Å"genocide†, as that would have obliged the UN and USA to send officials to stop the massacres. French, Belgian and Americans citizens were speedily removed from Rwanda, but claims that they were forbidden to intervene caused no assistance to be given to locals. In 1998, US president Bill Clinton issued an apology on behalf of the international community that not enough was done, and not quickly enough, to help the Rwandan people and to stop the genocide, which was what it should have been called from the start. Timeline: Important Events in the Genocide 6 April 1994: President Habyarimana and Burundian President Cyprien Ntaryamira are killed the plane they are in is shot down above Kigali. Hutu extremists opposed to their President signing the Arusha Peace Accords are believed to be behind the attack. April: The Rwandan armed forces and Interahamwe militia begin the systematic killing of Tutsis and moderate Hutus. UN forces stationed in Rwanda find themselves unable to intervene due to a â€Å"monitoring† mandate. 8 April: The Rwandan Patriotic Front (RPF) launches a major offensive to end the killings. 9-10 April: French, Belgian and American civilians are rescued by their governments, but no help is given to native Rwandans. 11 Apr il: The International Red Cross (IRC) estimate: tens of thousands dead. UN soldiers protecting 2,000 Tutsis at a school are ordered to withdraw to Kigali airport. Most Tutsis are killed after their departure. 14 April: Belgium withdraws its troops from the UN peacekeeping force in Rwanda due to the death of 10 troops in the previous week. 15 April: Slaughter of thousands of Tutsis gathered at Nyarubuye Church seeking protection. 21 April: The UN cuts the level of its forces in Rwanda from 2500 to just 270 troops. IRC estimate: over 100,000 dead. 30 April: The UN condemns the killing but omits the word genocide so that emergency genocide assistance doesn’t need to be given. Tens of thousands of refugees flee into neighbouring Burundi, Tanzania and Zaire. Mid-May: IRC estimate: 500,000 dead. 17 May: The UN Security Council says that acts of genocide may have been committed. It agrees to send 5,500 troops with to defend civilians, however deployment is delayed by disagreements between the US and UN over the financing of the operation. Trivial arguments include what colour to paint vehicles. 22 June: With arguments over the deployment still continuing, the UN authorises an emergency force of 2,500 French troops under Operation Turquoise to create a safe area in the government-controlled south-west part of Rwanda. The killing of Tutsis continues in the safe area despite the presence of the French. 4 July: The RPF takes control of Kigali and the southern town of Butare. 13-14 July: Refugees fleeing the RPF flood into Zaire. Approximately 10,000-12,000 refugees per hour cross the border into the town of Goma. There is a severe lack of food, water and shelter in refugee camps. 18 July: The RPF announces that the war is over, declares a cease-fire and names Pastor Bizimungu as president with Faustin Twagiramungu as prime minister and Paul Kagame (commander of the RPF) as Vice President/Minister of Defence. August: It is reported that approximately 2000 Hutu refugees in Zaire are dying every day due to inadequate living conditions. The newly instated Rwandan government is pleading for their return to food, water and relative safety in Rwanda. However, former government troops involved in genocide organisation convince innocent Hutu refugees that the Tutsis will arrest them on return to Rwanda. November: International Criminal Tribunal for Rwanda is established by the UN Security Council to try those convicted of genocide involvement. Timeline adapted from: BBC6/04/04, â€Å"Timeline: 100 days of genocide† , 29/08/08, http://news. bc. co. uk/1/hi/world/africa/3580247. stm BIBLIOGRAPHY BBC, 1/04/04, â€Å"Rwanda: How the genocide happened†, 16/08/08, http://news. bbc. co. uk/2/hi/africa/1288230. stm BBC, 30/03/04, â€Å"When good men do nothing†, 16/08/08, http://news. bbc. co. uk/2/hi/programmes/panorama/3577575. stm WGBH Educational Foundation, 2008, â€Å"100 Days of Slaughter – A Chronology of U. S. /U. N. Actions†, 16/08/08, pbs. org/wgbh/pages/frontline/shows/evil/etc/slaughter. html Ramsey, J. , â€Å"Global Studies: Africa†, Dushkin/McGraw Hill, Connecticut Peace Pledge Union, N/D, â€Å"Rwanda 1994†, 20/08/08, ppu. org. k/genocide/g_rwanda. html Cable News Network, Inc. , 1998, â€Å"Rwanda plumbs unanswered questions of 1994 genocide†, 25/08/08, http://edition. cnn. com/WORLD/africa/9804/07/rwanda/index. html Nouvel Observateur, 2006, â€Å"BBCs Stephen Sackur talks to Rwandas president, Paul Kagame on 7 December 2006†, 25/08/08, olny. nl/RWANDA/Lu_Pour_Vous/Dossier_Special_Habyarimana/Interview_Kagame_BBC_Hard_Talk_07_12_2006_FR. html Covert Action, N/D, â€Å"Genocide in Rwanda†, 25/08/08, http://mediafilter. org/caq/caq52rwanda. html Stanton, G. , 1998, â€Å"The 8 Stages of Genocide†, 27/08/08, genocidewatch. rg/8stages. htm United Human Rights Council, N/D, â€Å"Genocid e in Rwanda†, 28/08/08, unitedhumanrights. org/Genocide/genocide_in_rwanda. htm Gendercide Watch, 2002, â€Å"Case Study: Genocide in Rwanda, 1994†, 28/08/08, gendercide. org/favicon. ico CATO Institute, 27/03/07, â€Å"REAL ID, the race card†, 31/08/08, cato-at-liberty. org/2007/03/27/real-id-the-race-card/ Johnson, J. , 30/04/07, â€Å"Politics, Theory and Photography†, 31/08/08, http://politicstheoryphotography. blogspot. com/2007_04_01_archive. html BBC, 4/04/04, Massacre at Nyarubuye Church†, 31/08/08, http://news. bc. co. uk/2/hi/programmes/panorama/rwanda/default. stm Rotburg, I. , 2005, â€Å"Rwanda†, Mason Crest Publishers, Jordan Keane, F. , 1996, â€Å"Season of Blood†, Penguin Books, England Melvern, L. , 2004, â€Å"Conspiracy to Murder†, Verso, London Washington College of Law, N/D, â€Å"Group One: The Hutus and Tutsis†, 1/09/08, wcl. american. edu/humright/center/rwanda/jigsaw1. pdf? rd=1 Dallaire, R. , 2004, â€Å"Shake Hands With the Devil†, Arrow Books, London Allen, T. , Winter 2002, â€Å"General Romeo Dallaire – United Nations/Canada†, 4/09/08, thirdworldtraveler. com/Heroes/Gen_Romeo_Dallaire. html