Financial Aspect within any Organisation Research Paper

Money related Aspect inside any Organization - Research Paper Example Monetary viewpoint inside any association is viewed as an inner survey and the money related chiefs are the ones answerable for budgetary arranging so that it is implanted inside the whole vital arrangement to give positive outcomes for the association both over the long haul and the short-run. Budgetary chiefs should deal with a firm’s assets so it can meet its objective and destinations. The significant point of a money related supervisor is to look at the monetary information of some random association and to give the suggestion to the top administration in regards to techniques that would improve the budgetary exhibition of an organization. The distinctive job of a money related chief incorporates capital planning choices, capital structure choices, giving strategic exhortation over merger and acquisitions, profit strategy choice and all other venture choices that may include portfolio the board too. All these various jobs and capacities combine to shape the premise of any vital arrangement and these money related issues help in understanding the development that an organization will make concerning its gainfulness and long haul development. Deals Forecast Forecasting is generally utilized by organizations to appraise future outcomes. Despite the fact that these assessments are not 100% exact, they for the most part give a knowledge into numerous issues, for example, a thought regarding the future drawn by utilizing diverse supposition and methods. Deals estimating is one such method whereby any organization predicts the volume and the quantity of deals that might be accomplished by various deals staff through various areas in which the organization works. There are three distinct methodologies that are embraced in deals estimating. These are: Top-down Sales Forecasting; it is a method whereby the marketing projection are arranged by the top level administration and these figures are sent to bring down level administration in type of deals quantities /limits/targets which the lower level administration ought to accomplish Bottom-up Sales Forecasting; is a methodology whereby these marketing projection are placed in by the workers answerable for the deal. The business group gauge an objective which they want to sell and after this objective structures the reason for the whole company’s income plan. Half and half Sales Forecasting; is a methodology whereby both the top-down and the base up approach is utilized. The top administration determines the marketing projection at the corporate level while the business staffs infer it at the operational level. Both these figures are thought about together and any errors between the two are from now on altered. The advantage of utilizing this cross breed approach is that it will in general wipe out any error or a one-sided judgment of deals and both the top and the base level administration cooperate for the achievement of the association. The half and half methodology produces incon stancy and it additionally makes cooperation from the lower level administration which therefore builds inspiration. The impediment of this procedure is that it devours an excess of time of both the top and the base level administration (Kahn, 1998).

Research Design Methods and Applications Academic Accountants

Question: Examine about the Research Design Methods and Applications for Academic Accountants? Answer: Presentation Directing an exploration on a scholarly point or on any person is troublesome as it includes extraordinary endeavors to accumulate fitting information and present the examination in a suitable just as in a moral way. There are some basic moral issues to be considered by the scientists, for example, information security, deception and compelling cooperation of the respondents, by making any understanding or agreement. This specific research features the genuine instance of directing a deceptive research that will be summed up alongside distinguishing the exploitative variables of the exploration and changes in the outcome saw. The second piece of the examination is to set an exploration point and set a theory on the theme. Picking a case of Unethical Research In the wake of experiencing various cases and studies, a case of mental research has been decided to continue with this task. It has been seen that in this specific research the respondents were made to sign an agreement expressing that flow will be gone through them as electric stuns and an electric wire was associated with 30 switch reassures (www.sagepub.com, 2016). Research Summarization The exploration model taken for this task is the mental test directed on individuals by giving stun so as to test their cerebrum - power. The individual picked for the test experienced electrical stun meetings that expanded with each snap of the electric switches. In any case, the specialists said that due to pre-introduced alignments in the machines the odds of damage are similarly less, however may bring about impermanent wounds (Hodge, 2012). The individuals showing up for the exploration needed to peruse a few words and afterward needed to rehash these words while encountering the stun meetings. The stun levels were set apart in the parameters like slight stun to extreme stun and the experimenter continued expanding the stun levels and even denied to remove the individual from the meeting (Bailey, 2012). The experimenter coercively kept these people by expressing, It was compulsory to proceed with the examination to the end level. The examination was named as Obedience Experiment s and lion's share of the respondents needed to consent in a specific way of stun level. In any case, the scientists joined with these tests guaranteed that the reason for this exploration was to infer several results: To see if individuals obeys power to the ideal level. To discover or rather to present moral factors in directing examination and assess the considering relating morals with submission and authority (Rosner Markowitz, 2012). Clarifying the exploitative variables This specific dutifulness test was directed some time in the past during the hour of World War by applying syphilis to test their physical capacity to withstand radiations brought about by nuclear bombs or some other radiations. The after aftereffect of this test was very sickening, as members needed to experience clinical tests to recuperate from the impacts (Bell, 2014). The exploitative issues of this analysis is that the respondents needed to confront life chances if there should be an occurrence of any electrical mishaps as no quick clinical offices were referenced to be available at the test spot. Despite the fact that the respondents referenced the degree of stun that they need to confront, they were not saved in the event that they needed to move out from the test in the middle. Thus, the untrustworthy issues were absence of insurance and regard for the respondents, value and defended in light of the fact that the dangers were not genuinely circulated among the respondents (B ailey, 2014). Clarifying the adjustments in results The whole case features that larger part of the grown-up respondents couldn't bear the stun level notwithstanding of having a reasonable thought regarding it. The broadly useful was to test the acquiescence and quality of memory, which changed to wellbeing dangers (Nardi, 2015). Henceforth, toward the end, the Department of Health and Human Services named this test as disallowed and presented separate testing standards. Choosing the Research Topic The subject picked in regards to hierarchical issue is Do you thing that inclusion of worldwide style brands like Zara and Primark with Rana Plaza (Bangladesh) is a deceptive business practice? Theory Setting H0: The business connection between Rana Plaza and global brands like Zara and Primark is untrustworthy H1: The business connection between Rana Plaza and global brands like Zara and Primark isn't untrustworthy End The whole investigation uncovers that it is the duty of the specialists to guarantee wellbeing and security of the respondents and in the end should exclude them into any examinations that may hazard lives of individuals even with trade of any resources. Indeed, even in the event of leading any scholastic research, the specialist must complete the examination dependably and ought not disregard any outcome or present the reaction got from the respondents. References Bailey, C. D. (2014). Psychopathy, Academic Accountants' Attitudes toward Unethical Research Practices, and Publication Success.The Accounting Review,90(4), 1307-1332. Bailey, N., (2012). Approach dependent on unscrupulous research.Poverty and Social Exclusion. Ringer, J. (2014).Doing Your Research Project: A guide for first-time scientists. McGraw-Hill Education (UK). Morals in Research. (2016). Recovered 21 February 2016, from https://www.sagepub.com/locales/default/documents/upm-doubles/46055_Pages_from_Chambliss_(4e)_Chapter_3.pdf Hodge, F.S., (2012). No important statement of regret for American Indian dishonest research abuses.Ethics Behavior,22(6), pp.431-444. Nardi, P. M. (2015).Doing study explore. Routledge. Rosner, D., Markowitz, G. (2012). With the best aims: lead investigate and the test to open health.American diary of open health,102(11), e19-e33.

Limits to Growth in Elite Sport :: Sports Sport Athletics Essays

Cutoff points to Growth in Elite Sport Conceptual: The motivation behind this paper is to examine a portion of the moral ramifications and issues in first class sport as it draws nearer to the human execution limit. Present day first class sport must be seen on the foundation of the possibility of deliberate advancement. The Olympic aphorism, 'citius, altius, fortius'- quicker, higher, more grounded gives an exact centralization of this thought. Current game is likewise impacted by the liberal thought of a free market where on-screen characters can perform, contend and be remunerated by execution. Be that as it may, one may inquire as to why and how competitors are happy to chance their wellbeing and even their life on the free market of game when they do the outrageous: push limits, break records, set new gauges, grow new occasions. This paper examines what might be the outcome as game advances toward the restrictions of human execution. The moral spotlight on the improvement of the world class game ought not be limited to the individual competitor, yet ought to likewise incorporate the different frameworks that make up first class sport. Different on-screen characters, similar to mentors, pioneers, supports, clinical work force, administration individuals, and so forth., are participating in a similar turn of events. One issue in the advanced setting is that society is separated into various good segments. What is acknowledged in diversion or workmanship may not be acknowledged in sport. It is recommended that we ought to build up a typical ethic for all presentation focused exercises like music, painting, science and research, aerobatic exhibition and tricks, acting, top governmental issues and business. Or on the other hand one could incorporate all circumstances and occasions where individuals are put under extraordinary pressure and need to perform well, such as during endeavors, in optimistic philanthropic work, during risks, and disasters. Simultaneously, one ought not build up a kind of wor ld class ethic. We need another ethic that characterizes the moral resilience level in first class sport and that likewise focuses to a portion of the opportunities for advancement of both character and temperances under extraordinary tension. Presentation The Olympic maxim  «citius, altius, fortiusâ » - quicker, higher, more grounded - gives an exact concentrate of the solid confidence in unceasing advancement. To break obstructions, as far as possible, is significant and focal in world class sport; to be the first under 10 seconds on 100 meter run for men, the first under 4 minutes in a single English mile, the first more than 6 meter in post vaulting or the first more than 9 meter in long bounce, etc.

Analysis of the Global Health System - 1100 Words

Analysis of the Global Health System (Essay Sample) Content: Analysis of a Global Health SystemNameInstitutionAnalysis of a Global Health SystemGood health is the primary concern of human beings. This has particularly become crucial owing to the increasing cases of chronic diseases. Culture and traditions ply a crucial role in determining health the altitude of and individual towards treatment. Traditional medical practices played a crucial role in combating illnesses before the invention of modern medicine. Notably, traditional medicine is still held in prestige by many societies. However, with the invention of modern medicine, the use of these alternative medicines is diminishing. Despite the differences between the two paradigms, there are several areas of convergent between traditional and western medicine. This essay will focus on the similarities and differences between traditional and western medicine in combatting illness. To affect this, we will employ the transcultural theoretical model.Summary and Interpretation of F ield WorkBy studying the traditional and western medicine paradigms, several similarities, as well as differences, come handy. Whereas the traditional medicine relies on natural remedies, western medicine emphasizes on conventional pharmaceutical drugs. In many societies, traditional medicine has continued to garner popularity owing to its cost friendly nature as well as the cultural attachment. Notably, there are several aspects of traditional medicine that have been adopted by western medicine in treating various chronic illnesses. However, some aspects of traditional medicine are still under probation to probe their authenticity. One major area of divergent between the traditional medicine and western medicine is the relationship between ailment and spirituality held by the traditional medicine practitioners. However, both paradigms agree on of the crucial role played by environment and culture in shaping the health of an individual.SimilaritiesDespite the numerous differences be tween the Western medicine and the traditional medicine, there are notable elements shared between the two in combating illnesses. One of the striking similarities between the traditional and modern medicine is the use of similar herbs. Researchers have established the healing value of the traditional herbs that have been processed and incorporated in modern medicine. It is noted that both traditional and western medicines employ inspection and palpation methods though in different contexts. Additionally, the massage treatment that is widely employed by Western medicine has its roots in the traditional medicine. Acupuncture anesthesia, which is widely employed in western medicine, has its roots in the traditional Chinese Acupuncture. Additionally, the Artemisia, annua, a traditional medicine, has been employed in the treatment of malaria in the western medicine (Hickman, Nelson, Perrin, Moss, Hammes, Tolle, 2010). The other notable traditional medicine is the air stabilizer that is utilized by western health practitioners to treat asthma and cough.Both the traditional and western medicines employ diaphoresis and reinforcement in combating illnesses. The regular indigo formula used in combating Acute Promyelocytic Leukemia (APL) is the other traditional medicine that has been adopted by the western medicine practitioners. In addition to treating leukemia, the medicine has been known to impede the development of cancerous cells. The other notable similarity lies on pathogenesis (Jones, 2004). Both western and traditional medicines hold that some diseases exhibit similar developmental paradigms and hence can be treated with similar medical procedures. The other point of convergent between the two paradigms lies in the relationship between man and the universe. It is noted that the biological life and the biological clock theories base their origin from the concept of the relationship between man and the universe in the traditional medicine.DifferencesWhereas the traditional medicines rely on natural and spiritual remedies, western medicine incorporates modern technology in combating diseases. As such, several striking differences come out between the two paradigms. Whereas the western medicine treats only the affected body part, the traditional medicine takes into account the holistic person. On illness, the western medication views it as symptoms in need of treatment by prescription. This may be contrasted with the traditional medicine that considers illness as an indication of body imbalance in need of restoration. Additionally, whereas the western medication attaches all diseases to a biological origin, the traditional medicine attaches some of the illness to spiritualism. Further, it is noted that the western medicine targets the elimination of particular symptoms as opposed to the traditional medicine that is holistic.Importantly, whereas the Western medicine aims at eliminating the disease, the traditional medicine aims at deriving l essons from the disease. Also, crucial differences arise in disease diagnosis. Whereas western medication focuses on the patient and family background, traditional medicine places an additional emphasis on the environment that the patient interacts with (Sagar, 2012). On side effects, western medicine is prone to creating undesirable outcomes on the patient's body as opposed to the traditional medicine that work well with the body. Notably, whereas in western medication patients are prompted to adhere strictly to the physician's recommendations, in traditional medicine, patients are empowered to value personal care of their bodies. The other notable difference is noted on the availability of the two types of medications, whereas the western medication is highly ... Analysis of the Global Health System - 1100 Words Analysis of the Global Health System (Essay Sample) Content: Analysis of a Global Health SystemNameInstitutionAnalysis of a Global Health SystemGood health is the primary concern of human beings. This has particularly become crucial owing to the increasing cases of chronic diseases. Culture and traditions ply a crucial role in determining health the altitude of and individual towards treatment. Traditional medical practices played a crucial role in combating illnesses before the invention of modern medicine. Notably, traditional medicine is still held in prestige by many societies. However, with the invention of modern medicine, the use of these alternative medicines is diminishing. Despite the differences between the two paradigms, there are several areas of convergent between traditional and western medicine. This essay will focus on the similarities and differences between traditional and western medicine in combatting illness. To affect this, we will employ the transcultural theoretical model.Summary and Interpretation of F ield WorkBy studying the traditional and western medicine paradigms, several similarities, as well as differences, come handy. Whereas the traditional medicine relies on natural remedies, western medicine emphasizes on conventional pharmaceutical drugs. In many societies, traditional medicine has continued to garner popularity owing to its cost friendly nature as well as the cultural attachment. Notably, there are several aspects of traditional medicine that have been adopted by western medicine in treating various chronic illnesses. However, some aspects of traditional medicine are still under probation to probe their authenticity. One major area of divergent between the traditional medicine and western medicine is the relationship between ailment and spirituality held by the traditional medicine practitioners. However, both paradigms agree on of the crucial role played by environment and culture in shaping the health of an individual.SimilaritiesDespite the numerous differences be tween the Western medicine and the traditional medicine, there are notable elements shared between the two in combating illnesses. One of the striking similarities between the traditional and modern medicine is the use of similar herbs. Researchers have established the healing value of the traditional herbs that have been processed and incorporated in modern medicine. It is noted that both traditional and western medicines employ inspection and palpation methods though in different contexts. Additionally, the massage treatment that is widely employed by Western medicine has its roots in the traditional medicine. Acupuncture anesthesia, which is widely employed in western medicine, has its roots in the traditional Chinese Acupuncture. Additionally, the Artemisia, annua, a traditional medicine, has been employed in the treatment of malaria in the western medicine (Hickman, Nelson, Perrin, Moss, Hammes, Tolle, 2010). The other notable traditional medicine is the air stabilizer that is utilized by western health practitioners to treat asthma and cough.Both the traditional and western medicines employ diaphoresis and reinforcement in combating illnesses. The regular indigo formula used in combating Acute Promyelocytic Leukemia (APL) is the other traditional medicine that has been adopted by the western medicine practitioners. In addition to treating leukemia, the medicine has been known to impede the development of cancerous cells. The other notable similarity lies on pathogenesis (Jones, 2004). Both western and traditional medicines hold that some diseases exhibit similar developmental paradigms and hence can be treated with similar medical procedures. The other point of convergent between the two paradigms lies in the relationship between man and the universe. It is noted that the biological life and the biological clock theories base their origin from the concept of the relationship between man and the universe in the traditional medicine.DifferencesWhereas the traditional medicines rely on natural and spiritual remedies, western medicine incorporates modern technology in combating diseases. As such, several striking differences come out between the two paradigms. Whereas the western medicine treats only the affected body part, the traditional medicine takes into account the holistic person. On illness, the western medication views it as symptoms in need of treatment by prescription. This may be contrasted with the traditional medicine that considers illness as an indication of body imbalance in need of restoration. Additionally, whereas the western medication attaches all diseases to a biological origin, the traditional medicine attaches some of the illness to spiritualism. Further, it is noted that the western medicine targets the elimination of particular symptoms as opposed to the traditional medicine that is holistic.Importantly, whereas the Western medicine aims at eliminating the disease, the traditional medicine aims at deriving l essons from the disease. Also, crucial differences arise in disease diagnosis. Whereas western medication focuses on the patient and family background, traditional medicine places an additional emphasis on the environment that the patient interacts with (Sagar, 2012). On side effects, western medicine is prone to creating undesirable outcomes on the patient's body as opposed to the traditional medicine that work well with the body. Notably, whereas in western medication patients are prompted to adhere strictly to the physician's recommendations, in traditional medicine, patients are empowered to value personal care of their bodies. The other notable difference is noted on the availability of the two types of medications, whereas the western medication is highly ...

Study On The Nature Of Islamic Insurance - Free Essay Example

Sample details Pages: 21 Words: 6314 Downloads: 2 Date added: 2017/06/26 Category Insurance Essay Type Research paper Did you like this example? Nigeria is country with over 120 million Muslim over 75% of its population are Muslims, considering this it is only fair and just that the belief and values of this vast majority be respected and reflected by providing them avenues of insuring and/or assuring their lives and property without necessarily violating the sharià ¢Ã¢â€š ¬Ã¢â€ž ¢ah, which is detrimental to them in this world and the Here-after. The main reason why researcher wants to carry out this research was to identify the possible problems and prospects of Islamic insurance in Nigeria. But before going deep into the main objectives of the research let me start by giving a brief background of both conventional and Islamic insurance (TAKAFUL). Don’t waste time! Our writers will create an original "Study On The Nature Of Islamic Insurance" essay for you Create order These days the inspiration for Islamisation of insurance is at its peak. Many Individuals as well as investment institutions are taking measures in order to islamise the sector of banking and insurance. Insurance has been defined in various ways by different writers of different professions (lawyers, economist as well as sociologist), depending on the message they are trying to put forward. Essentially, there is no fundamental departure in meaning between definitions given by conventional writers and Islamic writers. In fact they are widely used interchangeably. There is a general agreement amongst most economists that the essence of à ¢Ã¢â€š ¬Ã…“insurance lies in the elimination of uncertain risk of loss for the individual through the duals, who each contribute to a common fund through premium payments, sufficient to make good the loss caused to anyone individualà ¢Ã¢â€š ¬?. M.N Siddiqi (1985) sees insurance as based on a social scientific discovery, according to which after a small investment, individuals can be freed from incurring financial losses as a result of perils and accidents, whose incidence can be measured fairly accurately in relation to a large human groups. Insurance is a device for the reduction of the uncertainty of one party called à ¢Ã¢â€š ¬Ã…“the Insuredà ¢Ã¢â€š ¬?, through the transfer of particular risk to other party called à ¢Ã¢â€š ¬Ã…“the Insurerà ¢Ã¢â€š ¬?, who offer a restoration at least in part of economic losses suffered by the Insured (Pfeiffer 1956). In its larger concept, insurance have also been defined à ¢Ã¢â€š ¬Ã…“as the business that exists in order to ensure the success and survival of other businessesà ¢Ã¢â€š ¬? (Prof. J.O. Irukwu, 1981). Conventionally, insurance can also be defined in three different ways by three different kinds of professionals; the lawyer would define it à ¢Ã¢â€š ¬Ã…“as a contract whereby a person called the insurer of assurer, agrees in consideration of money pai d to him, called premium, by another person called the insured or assured, to indemnify the latter against loss resulting to him on happening of certain events. The policy is the document in which is contained the terms of the contractà ¢Ã¢â€š ¬? (Osborne Law Dictionary). The economist would prefer to define it as à ¢Ã¢â€š ¬Ã‹Å"a device for the transfer of some risks of economic loss from the insured whoà ¢Ã¢â€š ¬Ã¢â€ž ¢s otherwise would have bourne the risk, to an insurer in return for a premiumà ¢Ã¢â€š ¬Ã¢â€ž ¢. Whereas the sociologistà ¢Ã¢â€š ¬Ã¢â€ž ¢s perception of insurance are ità ¢Ã¢â€š ¬Ã¢â€ž ¢s a device whereby the participants provide financial compensations or succor to those among them encountering the many misfortunes or contingencies that befall humanity. Under a modern insurance system, payments to those who suffer losses are made from the accumulated contributions of all those participating in the insurance systemà ¢Ã¢â€š ¬Ã¢â€ž ¢ (J.O. Irukwu, 1985). The s ociologist is more concerned with the social aspect of insurance; how it relates to social interrelationships, whereas the economist is interested in the gains in monetary terms, and the lawyer, the legal aspects. The Islamic economist on the other hand, is concerned about all the above aspects in addition to the moral, ethical, material and spiritual virtues of insurance. However, while the aims and aspirations of insurance may be similar in principles in a secular as in Islamic communities, the à ¢Ã¢â€š ¬Ã‹Å"modus operandià ¢Ã¢â€š ¬Ã¢â€ž ¢ will have to be different in order to accommodate the moral and spiritual requirements of the latter. Insurance has been in existence long before the coming of Islam, there is a general consensus that marine insurance is the earliest form of insurance and it is generally agreed that it had its origin in Rome, later in the 14th à ¢Ã¢â€š ¬Ã¢â‚¬Å" 15th centuries. Later it spread to the other parts of the world via Britain and Western Europ e this view is held by M.A Mannan (1975) and J.O. Irukwu (1985) amongst others. History also shows that an indigenous form of insurance also existed, more than four thousand years ago in China, where the Chinese merchants pooled their rice cargoes by placing a tradition of each manà ¢Ã¢â€š ¬Ã¢â€ž ¢s cargo on several junks (boats) instead of an entire cargo in one junk. This pooling arrangement reduced the chances of one man experiencing a huge financial setback. If a cargo was lost, all merchants would experience a loss, but no merchant would undergo total loss (S.S Yings, 1975). Muslim traders also practice the concept of insurance for over 1400 year ago by the Muhajrin (emigrants) of Mecca and the Ansar (supporters) of Medina following the hijra of the Prophet Muhammad (PBUH). In the past Muslim traders felt the necessity of insurance, in olden days they used to ships their goods across the seas to other part of the world and they mutually arrange for safeguards against the risk of the sinking of ship. They usually contribute certain amount to form a pool which will be used to compensate any trader that suffers losses as a result of perils and accident. Over the last three to four decades now this new version of Islamic insurance (TAKAFUL) has become popular and continued to gain popularity in different part of the world including non-muslim countries. Takaful is an Arabic word meaning à ¢Ã¢â€š ¬Ã…“guaranteeing each otherà ¢Ã¢â€š ¬? was considered to be an alternative form of insurance based on the concept of cooperation, social solidarity as well as mutual indemnification of losses of members. It is a form of co-operative insurance, where by members contribute a certain sum of money to a common pool. The purpose of this system was to uphold the principle of à ¢Ã¢â€š ¬Ã…“bear ye one anotherà ¢Ã¢â€š ¬Ã¢â€ž ¢s burdenà ¢Ã¢â€š ¬? not to create profits. Insurance today is indispensable and inevitable in any modern economy, it has become à ¢ â‚ ¬Ã‹Å"a necessary evilà ¢Ã¢â€š ¬Ã¢â€ž ¢ one has to involve in either voluntarily or involuntarily (government policies compel owners of vehicles or businessmen or creditors or debtors to the banks to insure their property). So Muslims are in a dilemma; in that, Islam strongly prohibits usury of any form (see Qurà ¢Ã¢â€š ¬Ã¢â€ž ¢an II, 275 LXXII 20) while the modern economy is based on interest to such an extent that it is difficult to visualize any economic relations where interest/usury does not come in, directly or indirectly. So our great challenge today, as Muslims is how to eliminate interest/usury and evolve new institutions and practices which would enables economic activities in Nigeria to flourish without resort to à ¢Ã¢â€š ¬Ã‹Å"ribaà ¢Ã¢â€š ¬Ã¢â€ž ¢ and other evils associated with the modern economy. That is why the researcher carries out this research study in order to look at the basic principles of Islamic insurance as well as to analyze the possible proble ms and prospects of Islamic insurance in Nigeria. 1.2 AIMS AND OBJECTIVES OF THE RESEARCH To identify the basic principles of Islamic insurance. To identify the nature and coverage of Islamic insurance. To identify the possible problems and prospects of Islamic insurance in Nigeria. 1.3 NEED FOR ISLAMIC INSURANCE IN NIGERIA Islamic insurance is free from Riba (usury) and other evils associated with conventional insurance and can even be more profitable. To take advantage of this scientific discovery in line with divine guidance is not only desirable, it is also indispensable for the progress of Islamic civilization à ¢Ã¢â€š ¬Ã¢â‚¬Å" human civilization. Considering that Nigeria is largely a Muslim country, with about 120million Muslims (over 75% of Nigerian population are Muslims), it is only fair and just that the belief and values of its vast majority be respected and reflected by providing them avenues of insuring and/or assuring their lives and property without necessarily violating the sharià ¢Ã¢â€š ¬Ã¢â€ž ¢ah, which is detrimental to them in this world and the Here-after. 1.4 RESEARCH QUESTIONS What is the nature of Islamic insurance? What are the items and aspects for which insurance is permissible in Islam? What are the local customs and traditions that are supportive of Islamic insurance system? What amendments are needed for the smooth running of Islamic insurance? What are the problems and prospects of Islamic insurance operating side-by-side with conventional insurance system as separate institutions? 1.5 RESEARCH PROBLEMS Nigeria is a country with a large percentage of Muslims but operates a secular form of government. The economic system of the country is pro-west, with its attendant injustice and exploitation. All these combine to militate against the evolution or establishment of an Islamically acceptable system in Nigeria. The problem associated with this research is there is not much available data for this research especially in the field of Islamic Insurance in Nigeria, due to the shortage of professionals in this field not as in the conventional Insurance. 1.6 METHODOLOGY The study is based on sources from existing available literature, whereby relevant books are consulted. Data are described and analyzed with reference to the research questions and objectives and reported in three chapters: introduction; review of relevant literature and data analysis and conclusions and recommendations. 1.7 LIMITATIONS OF THE RESEARCH This research is constrained by the limitation of relevant literature on Islamic insurance. In addition, limitations of time and financial resources are other constraints faced by the researcher. Chapter two Literature review This chapter will be devoted to review of literature by other writers on the subject of Islamic insurance, writers have done quite a lot of work in this field by the way of defining Islamic insurance and clearing doubts about its controversy in Islamic and establishing its importance in the present day economic settings. There are also contributions on the form and items that are permissible in Islam and also suggestions on the mode of operation of Islamic insurance. We intended to look into these issues later in this chapter. 2.1 INSURANCE IN NIGERIA Modern insurance as it is today came to Nigeria not more than seven decades ago à ¢Ã¢â€š ¬Ã¢â‚¬Å" several centuries younger than trading activities in the country. Long before the coming of modern insurance, some form of social scheme existed in various part of the country, this form of social scheme evolved through the existence of extended family system and social association such as age grades and other union. à ¢Ã¢â€š ¬Ã…“The simplest form of the social insurance was practiced by means of providing cash donations, materials or sometimes organized collective labour to assist members of extended family and members of social or communal associations who suffer a mishapà ¢Ã¢â€š ¬? (T. O. Yusuf, A. Gbadamosi, D. Hamadu 2009). The funds are used to help any member of social or communal who may suffer from misfortune such as accident, illness, death or unemployment. Despite urbanization and the attendant loosening of family and communal ties, some form of social scheme is sti ll widely practiced by community groups as well as sections of middle-class Nigerians (Osoka, 1992). Also a similar kind of this social scheme or social security was said to had existed in Northern part of Nigeria, during the then Sokoto Caliphate, the first caliph mounted an impressive labour policy and also used to give pensions and accident allowances to employee afflicted by patsy or permanent disease during the time of his employment and gets the wages continuously paid to him. If dead, his family will continue to receive the full salary until they are capable of securing their livelihood. In spite of Nigerian growing population still Nigeria was left behind when it comes to insurance. The global insurance market ranking shows that, the current Nigeria position in global insurance market was 64th and 4th in Africa with market capitalization of about N200bn ($1.62bn). In many of the African countries like Nigeria and other developing countries insurance is less than 100 years old, and it was just of recent that the reinsurance practice of reinsurance started to be taken so serious. The first insurance company to have a full branch office in Nigeria was the Royal Exchange Assurance (REA) of London in 1923. Before then, insurance companies which were mainly British, only had agencies. Many of the insurance companies in these days are foreign companies usually based in Europe whoà ¢Ã¢â€š ¬Ã¢â€ž ¢s only write insurance through its individual agents in the country. African reinsurance corporation was established in 1976 and the agreement establishing the African reinsurance corporation which commenced in 1978, Nigeria as a à ¢Ã¢â€š ¬Ã…“member state shall undertake to guaranteeà ¢Ã¢â€š ¬? upon the entry into force of this agreement, that all insurance and reinsurance establishments operating in its territory shall offer to place with the corporation a minimum of five percent of each of their reinsurance treaties, both present and future inclu ding life treaties at terms accorded to most favored reinsurances (Chapter vi, Article 27: Forms of Cession). J. O. Irukwu in his publication (1981) stated that à ¢Ã¢â€š ¬Ã…“all the insurance companies operating in Nigeria are required by law to cede twenty percent of their business by way of legal cessions to the Nigerian Reinsurance Corporation. The present legislation governing the insurance operations in Nigeria is the Insurance Decree which came into force on the first of December, 1976à ¢Ã¢â€š ¬?. He further argued that the insurance industry in Nigeria will grow tremendously in the future. L. P. Boul (1977) reported that à ¢Ã¢â€š ¬Ã…“Nigeria as of then enjoyed a well managed, reputable market internationally. In fact, it was the largest insurance market in Africa, with an annual premium income of N250, 000,000 according to 1976 estimatesà ¢Ã¢â€š ¬? but now it increase to over NGN 716,000,000 according to sigma report 2006. Evidence had now shown that Insuranc e premium rose to 25% in 2008 and perhaps 30% in 2009. It was also expected to rise to NGN 6,000bn ($45bn) by 2020, but in the meantime, Nigerian government is expecting the insurance premium growth of NGN1,100bn ($8.36bn) before the end of 2012. The recent capital base set by the Government of Nigeria for the life insurance was NGN2.5bn and NGN3bn for general insurance companies as their minimum paid-up capital with increase of over 1200% increase, while reinsurance companies were required to increase their minimum paid up capital to NGN10 billion. Although this suppose to be seen as an opportunity that could enable local players to compete internationally but remains a critical decisions for many business owner. (Bashorun, 2003; Ladipo-Ajayi, 2005). This issue of recapitalization drivers many insurance companies in Nigeria to adopted merger and acquisition in order to meet the required target, after the MA 71 strong companies emerged. This process of recapitalization was not a bad idea for the industry but rather will make the industry to be strong and be able to pay the claims. Nigeria has the biggest insurance market in Africa but the weakness within the industry caused large insurance business to be written by some foreign companies including oil and Gas, Marine and aviation. Some of the major problems affecting the industry include; religious believe, ignorance as well as lack of confidence in the insurance industry among the members of public. Many of the multinational companies (i.e. shells corporation and total plc) operating in Nigeria insured their companiesà ¢Ã¢â€š ¬Ã¢â€ž ¢ overseas due to the lack of confidence in Insurance companies in Nigeria. At the moment less than 10% of the population was actually insured and over 70% of vehicles in Nigeria were not properly insured while in some developing countries over 40-50% were insured and 80-90% in most developed countries. Mr. Fola Daniel a Commissioner for Insurance, National Insurance Commission (Naicom) in his keynote address at two-day summit on insurance industry in Nigeria April 2008, stated that People are now becoming more literate and many know the advantages of insurance but the question is, how to sell the concept and then deliver on the promise? As for the religion he said à ¢Ã¢â€š ¬Ã…“religion is no barrier à ¢Ã¢â€š ¬Ã¢â‚¬Å" because of the success of specialized schemes such as Takaful insurance aimed at the Muslim population was proof of thatà ¢Ã¢â€š ¬?. He further urged the insurance companies to change in their culture and practice as well as their attitudes towards the customers, in order to achieve that he pointed out that a major shift in corporate governance is vital, Management must be based on knowledge and integrity and Firms must remember that premium payments are monies held in trust, not operational profits! The issue of culture and religious as well as illiteracy (lack of awareness) on Insurance are some of the major factors affec ting the insurance industry in Nigeria. There are over 120million Muslims in Nigeria which covers about 75% of Nigerian population and the majority of them are of the view that modern insurance is completely against the teachings of Islam. 2.2 NATURE AND SCOPE OF INSURANCE This section will delve into the nature, scope and role of insurance to the economy as a whole. Insurance as define by Pritchett, et al (1996), is a social device in which a group of individuals (called à ¢Ã¢â€š ¬Ã…“Insuredà ¢Ã¢â€š ¬Ã¢â€ž ¢sà ¢Ã¢â€š ¬?) transfer risks to another party (called the à ¢Ã¢â€š ¬Ã…“Insurerà ¢Ã¢â€š ¬?) in order to combine loss experiences, which permits statistical prediction of losses and provides for payment of losses from fund contributed (premiums) by all members who transferred risk. 2.3 ELEMENTS OF INSURANCE For a proper understanding of insurance business, one must come to terms with some key elements in which the business is either based upon or rotates around, such elements are discussed below. They will hopefully give a concise knowledge of insurance in general. The Law of Averages or Large Numbers Insurance is based upon the law of averages which states, in a nutshell that à ¢Ã¢â€š ¬Ã…“although one cannot predict the chances of the actual occurrence of one particular result of an experiment out of a number of results on the basis of just one experiment, the relative chances of that particular result arising can be determined from a large number of experiments. This gives the measure of probability of the incidence of a particular result during one experimentà ¢Ã¢â€š ¬? (M.N Siddiqi, 1985). Siddiqi (1985), further explained that the law is based on averages which is not affected by any increase or decrease in numbers to the experiments. It has been found that the accuracy in which one can predict the probability of the occurrence of certain incidence over a period of time through this method is astounding. M.N Siddiqi (1985) however, showed that there is always room left for error, for nothing can be perfect. This error can however, be reduced to an insignificant fi gure through the help of the à ¢Ã¢â€š ¬Ã…“theory of probability which finally makes the computations and formulations still more valuable, reliable and fruitfulà ¢Ã¢â€š ¬?. When one talks of probability, he or she is talking about statistics. At this point we must state that à ¢Ã¢â€š ¬Ã…“the value of statistics in all classes of insurance cannot be overemphasized. It is the duty of the statistics section to supply the underwriters with necessary evidence to assist them in deciding whether or not to keep or decline a particular risk, depending on the claims experience (experiments). Methods of keeping statistics vary from company to company, but in all cases the aim is to make it possible for the desired information to be accurate and readily accessibleà ¢Ã¢â€š ¬? (J.O Irukwu, 1981). This shows that the statistics section is a vital part of the insurance industry and it works on the law of average or probability. In marine insurance à ¢Ã¢â€š ¬Ã…“particular averagesà ¢Ã¢â€š ¬? are applied to cargoes. à ¢Ã¢â€š ¬Ã…“Particular averagesà ¢Ã¢â€š ¬? means the partial loss caused by peril insured against in contradistinction to general average and total loss as defined by the Nigerian Insurance Act of 1977. General average on the other hand à ¢Ã¢â€š ¬Ã‹Å"implies some voluntary sacrifice of property made, or extra-ordinary expenditure incurred, at a time of peril threatening the old property involved in a common maritime adventure, with a view to preserving it from that peril, and embodies the principle that when such a sacrifice has been made, or expenditure incurred, the old property preserved shall contribute to the loss sustained, or the expenditure incurred as the case may beà ¢Ã¢â€š ¬? (F. Templeman and C.T. Greenace, 1973). In the statistics section of an insurance company there is what is called à ¢Ã¢â€š ¬Ã…“the actuaryà ¢Ã¢â€š ¬?. J.O Irukwu (1971) states that the Concise Oxford Dictionary defines an actuary as à ¢Ã¢â€š ¬Ã…“ an expert in theory and practice of statistics especially of mortality, sickness, retirement and unemploymentà ¢Ã¢â€š ¬?. Irukwu (1975) explained that in the life department, the actuary is concerned with the application of probability and statistics and the theory of compound interest to the practical problems of life assurance. His responsibilities further include; the calculation of premiums, evaluation of life fund and various reserves, surrender values, forecasting of financial results on long range and short range basis and advising the insurance company generally on investments and other technical bases of running the life programme successfully. Risk and Uncertainties From most of the definitions we have understood that insurance is based on risk management. It is important at this juncture to distinguish between various kinds of risks and also to determine which kind of risk insurance is based upon, because some risks are insurable while other are not. W. A Dinsdale (1970). Argued that à ¢Ã¢â€š ¬Ã…“not all risks are insurable: because they do not conform to the principles on which insurance is basedà ¢Ã¢â€š ¬?. Insurable risk is that which is measurable or calculable. This is called à ¢Ã¢â€š ¬Ã‹Å"pure riskà ¢Ã¢â€š ¬Ã¢â€ž ¢. It is this kind of risk that insurance is concerned with. There is another class of risk called business risk and uncertainty which is not insurable. We shall first start with: Business Risks and Uncertainties This kind of risk is the risk that is encountered in everyday decisions or activities of businessmen. The price that a commodity will fetch in the market tomorrow is a risk in itself, because one has no certainty that the price or the commodity will incur a loss or a gain, and the producer has no way of telling exactly, the amount of loss or gain. This calculation (of loss or gain) may turn out right or wrong, and he will earn profit or incur loss accordingly. The amount of gain or loss cannot however, be calculated in definite terms at the time of production of the article. This is an example of pure economic uncertainty, which is the basis of the modern theory of profit (M.N Siddiqi, 1985). This kind of risk is a two-way phenomenon either loss or gain and it is characterized by uncertainty where nothing is known, therefore such risk is not insurable. Pure Risk On the other hand this kind of risk is a one-way phenomenon, where the only outcome is à ¢Ã¢â€š ¬Ã‹Å"lossà ¢Ã¢â€š ¬Ã¢â€ž ¢. In this kind of risk experience and scientific devices can make one certain of the probability of the incidence of loss through accidents or other perils. Take an example of a ship meeting with an accident during voyages as given by M.N Siddiqi (1985) where he states that à ¢Ã¢â€š ¬Ã…“on the basis of data about shipwrecks collected from observation of the movements of hundreds of thousands of ships, spread over a sufficiently long period of time, it is possible to work out an average which may serve as the measure of probability of a ship meeting with an accidentà ¢Ã¢â€š ¬?. Unlike business risk and uncertainty, one can see that pure risk is not calculated on mere guess work or speculation, but on solid scientific principles and facts, like the law of probability. This risk is measurable and thus the concern of the business of insurance. 2.4 INSURANCE IN ISLAM Islam and Insurance as a Social Security System Insurance is considered as a basic human need which provides relief to the victim of catastrophes and other social contingencies, these contingency may be biological; such as sudden death, sickness, disability as a result of injury at work, it can also be economical such as unemployment or natural disaster such as storm, fire and flood. This caused the economic efficiency of the victims to damage to the extent that they had to depend on other to fulfill their basic needs. According to Siddiqi M.N (1981) à ¢Ã¢â€š ¬Ã…“This reality requires that insurance be treated as a basic human need over a very wide range of human activities and situationsà ¢Ã¢â€š ¬?. Most writers on Islamic insurance view it in the light of social security that is within the context of social security in Islam. So an attempt at defining social security will give us an insight into the subject matter (Islamic Insurance). Social security can be define as a tool that à ¢Ã¢â€š ¬Ã…“aims at relieving t he deprived and the destitute of want and misery so that not a single member of the society remains un-provided in his basic needs i.e. food, clothing, shelter, medicine and educationà ¢Ã¢â€š ¬? (Siddiqi M.N 1981). This is an aspect of welfare and it aims at providing the maximum livelihood to all which is called the à ¢Ã¢â€š ¬Ã…“maximum criterionà ¢Ã¢â€š ¬? maximizing the welfare of the minimum. It was reported that Holy Prophet Muhammad (PBUH) advised to à ¢Ã¢â€š ¬Ã…“help one another in furthering virtue and God consciousness and do not help another in furthering evil and enmityà ¢Ã¢â€š ¬?. Another Hadiths also stated that Holy Prophet told a Bedouin Arab, who left his camel unchained to the will of Allah, à ¢Ã¢â€š ¬Ã…“tie the camel and then leave it to the will of Allahà ¢Ã¢â€š ¬?. In view of these and other similar hadiths, it is established that concept of insurance does not contradict with Shariah. (Khandia, Abdur Rahman 2003). The hadiths clearly shows that as long as the form of insurance are based on mutual responsibility and co-operation and does not involve any evil or enmity, then ità ¢Ã¢â€š ¬Ã¢â€ž ¢s in lined with shariah. However Siddiqi M.N further stated that à ¢Ã¢â€š ¬Ã…“public welfare and social security is the foremost economic obligation of an Islamic stateà ¢Ã¢â€š ¬?. Also ità ¢Ã¢â€š ¬Ã¢â€ž ¢s the obligation of an Islamic state to bridge the gap cause by the misdistribution of wealth among the society and also to effect its economic development. This principle of social security require that each needy should be given relief regardless of what causes the destitution. Insurance can be viewed Islamically, in the light of social security like zakat. Zakat is one of the five pillars of Islam meaning à ¢Ã¢â€š ¬Ã…“the right of the have-not in the property or wealth of have or stateà ¢Ã¢â€š ¬? as long as there is no interference with the right of have or the state. This well established concept within the Islamic s ociety obliged the rich to help the destitute and the unfortunate (W Jean Kwon 2007). While à ¢Ã¢â€š ¬Ã…“The purpose of zakat was to provide assistance to those who lack the basic necessities of lifeà ¢Ã¢â€š ¬? (Aly Khorshid 2004). The Insurance takes care of the risks to which life and property are exposed. Furthermore, insurance in its purest form will protect the disruption of a system by accidents and events beyond human control. This view is held by Kashir and M. N. Siddiqi (1981). In view of the above discussion we can clearly see that insurance can be viewed in the context of social security in Islam. Origin of Islamic social security Social security was said to be in practice long before the coming of Islam, whereby families, relative or tribal member throughout the Arab territory form a fund which will saved as mean of helping needy on a voluntary and charitable basis. These practices were validated by Holy Prophet (PBUH) and incorporated into the institutions of the early Islamic State in Arabia around 650 Christian eras A.D. Examples of these early Islamic practices include the following (Hailey College of Banking Finance): Merchants of Mecca used to formed funds to assist victims of natural disasters or hazards of trade journeys. Surety called Daman khatr al-tariq was placed on traders against losses suffered during a journey due to hazards on trade routes. Assistance was provided to captives and the families of murder victims through a grouping known as aqila. Contracts, called aqd muwalat, were entered into for bringing about an end to mutual amity or revenge. Confederation was brought about by means of a hilf, or an agreement for mutual assistance among people. From the Islamic point of view social security is a divine scheme derived from the two sources; Qurà ¢Ã¢â€š ¬Ã¢â€ž ¢an and Sunnah (traditions and teachings of the Holy Prophet Muhammad (PBUH)) which can be dated back to more than 1,400 years ago. As shown by A.L Buhari (1973). The principle embedded in these two sources can be broadly classified into the following (El-Sheikh 1987): Protection of Human life (prohibition of destruction of human life whether it is His/her own or someone elseà ¢Ã¢â€š ¬Ã¢â€ž ¢s). Protection of human intellect (e.g. prohibition of intoxication). Protection of human property (condemning misleading with oneà ¢Ã¢â€š ¬Ã¢â€ž ¢s wealth as well as someone elseà ¢Ã¢â€š ¬Ã¢â€ž ¢s such as gambling). Protection human honor (condemning activities destroying families or promoting violence). Protection human conscience (freedom of religion and worship or against imposing any faith or dogma on human beings). The above fundamental principles, provides that one must find ways and means of avoid catastrophes and disasters wherever possible, and also to minimize the financial losses of himself or his familys should such events occur. And the possible way of doing so was to purchase an insurance cover as in the conventional system (Muhammad Ayub). In order to fully understand these principles and also to relate them into Islamic insurance, firstly we need to examine what and what is Halal (lawful) and Haram (unlawful) according to the teaching of Islam. It is in light of the above and need for real insurance cover, Islamic jurists (scholar) viewed Insurance as permissible, as long as it does not involve any form of Riba (usury), Gharar (uncertainty) and Maisir (gambling). They further concluded by saying that insurance in Islam should conform with principles of mutuality and co-operation. Permissibility of Insurance in Islam Writers have discussed on the permissible of insurance in Islam and the forms, they have made comparisons between conventional and Islamic insurance system. Opinion is sharply divided on the place of insurance in Islam. Before going deeply into reviewing of some literature on Islamic insurance, we intend to start with the arguments of some Islamic jurist regarding permissibility of insurance in Islam. Is Insurance permissible in Islam? And also, how will Insurance be organized according to Islam? This question of whether insurance is permissible in Islam or how to organize it islamically was in existence for a very long time and many writersà ¢Ã¢â€š ¬Ã¢â€ž ¢ tries to answer this important question according to their understanding. Some viewed it as gambling or breach of Divine providence while others consider it as prohibited à ¢Ã¢â€š ¬Ã…“Ghararà ¢Ã¢â€š ¬? transaction. Salahi, Adil stated on Arab New March (1990), that à ¢Ã¢â€š ¬Ã…“It appears that the persons following I slam object to insurance due to lack of understanding what insurance really is and what it does. He further stated that when we know that life insurance is nothing but an honorable way of looking after orphans, widows, the aged and the infirm, we would be sure that no religion does ever stand between those who need it and all that it doesà ¢Ã¢â€š ¬?. There are some Islamic jurist (scholars or Ulamah) who find an element of gambling in all kinds of insurance as a matter of principle. They also find some other objectionable features such as Riba (usury), and Garrah (uncertainty) inalienably associated with insurance. Because of the involvement these elements of Gambling, Riba and Gharrah in insurance, an overwhelming majority of the Islamic Jurists are on the opinion that the conventional insurance contract does not in its present form conform to the Islamic Shariah and regard it as an à ¢Ã¢â€š ¬Ã…“unnecessary innovationà ¢Ã¢â€š ¬?. Amongst these Ulamah (scholars) are: Sheikh Bakeet (355:72), Abdullahi Al-Qalqeeli (365), Mustafa Zaid (597:376), Mufti Muhammad Shafi (351), Jalal Mustapha Al-Sayyad and Shaukat Ali Khan (M.N Siddiqi, 1981). On the contrary, many writers believe otherwise. They do not find Riba and uncertainty inalienably associated with insurance such writers are M.N Siddiqi (1981) and (1985), M.A Mannan (1975). However M.N Siddiqi (1985) maintains that insurance and gambling are basically different from each other, and that Islam is not inherently opposed to the idea of covering calculable risks (insurance). From an Islamic view point the present forms of insurance suffers from certain evils but are not inherent to the principles of insurance as such. This statement is also supported by the resolution of the first conference of Islamic Economics (1976) see chapter one. Siddiqi (1981) added that several writers see nothing wrong in insurance as far as the basic principles are concerned. It is free from gambling, can be freed from inte rest and the à ¢Ã¢â€š ¬Ã‹Å"jahlà ¢Ã¢â€š ¬Ã¢â€ž ¢ (ignorance) and à ¢Ã¢â€š ¬Ã‹Å"ghararà ¢Ã¢â€š ¬Ã¢â€ž ¢ (uncertainty) in it are not of a degree large enough to call for its prohibition. These writers include Zarga, Yousuf Mousa, Ali Al-Kaseef, Mahmoud Al-Baby, Sanousi, Roohani, Tahawi, Taqi AMini Sheikh Mahmoud Ahmad, M.A Mannan, Shaheedi, Anwad and Siddiqi himself. M.A Mannan (1975) ruled that there is no provision in Islam that prohibits one from providing for the maintenance of his dependants. Insurance companies, by covering ones risks and uncertainties ensures provision for his dependants because insurance is a forced saving he further points out that it is Allahà ¢Ã¢â€š ¬Ã¢â€ž ¢s will that no individual should be bereft of the reasonable means of existence and should be immunes from any and every encroachment, this objective is the supreme duty of the Islamic state. The views of the majority of the Islamic jurist, the logic in their arguments for Islamic insurance an d finally the resolution of the first Islamic Economic Conference, Makkah 1976, has since resolved the controversy. The position finally stands that insurance is in principles permissible in Islam. According to the jurist this concept of insurance is acceptable in Islam because (Hailey College of Banking Finance): The policyholders would cooperate among themselves for their common good. Every policyholder would pay his subscription in order to assist those of them who need assistance. It falls under the donation contract which is intended to divide losses and spread liability according to the community pooling system. The element of uncertainty will be eliminated insofar as subscription and compensation are concerned. It does not aim at deriving advantage at the cost of other individuals. Siddiqi (1985), Mannan (1975) and a host of others however, have contributed significantly in showing how insurance can be organized under an Islamic system in such a manner that , purified from all Islamically incompatible elements, it can become a blessing to the society. 2.5 ORGANIZATION AND FUNCTIONS OF INSURANCE This will include the composition and basic functions of the underwriting department of insurance which will help shine some light on how to organize Islamic insurance. At this stage it is important to understand what is reinsurance and not its importance to the insurance industry. Reinsurance Reinsurance, called reassurance in the life department is a step taken by insurance companies to ensure that risks in excess of the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s retentions are spread by way of the automatic treaty reinsurer who automatically takes over any amount in excess of direct insurers retentions, according to J.O Irukwu (1985). He further explained that retentions are influenced and determined by the company concerned. He gave an example of a company with a substantial capital and sizeable fund resources. It would retain more business for itself and therefore, reinsure less than a comparatively new and small company with a small capital and limited resources. Basically, reinsurance is a kind of inter-insurance relationship and mostly international relationship concerning the ceding company and Reinsurance Company. There is an agreement that established an African Reinsurance Corporation which commenced in 1978 (made in 1977). It is established under the Organization o f African Unity (OAU) and serves the purpose of fostering the development of the insurance and reinsurance industry in Africa, to promote growth or national, regional and sub-regional underwriting and retention capacities to support African economic development. This is contained in article 3 chapter III of the Agreement. Amongst the functions of the corporation, is transacting reinsurance business through treaty and facultative cessions in respect of all or some classes of insurance inside as well as outside African (Article of the Agreement). As already stated in section 2.1 of this chapter, Nigerian insurance companies cede a minimum of five percent to the African Reinsurance Corporation according to Chapter VI, article 27 of the Agreement. Compositions and Functions of the Underwriting Department This will give us an idea of how to organize Islamic insurance. Traditionally, the business of insurance, according to J.O Irukwu (1985), is organized under four departments, namely; life, marine department, accident and fire departments. In practice however, some departments such as accident for example are further divided into sections with sectional heads. Accidents in some companies in Africa are divided into separate departments, for example, burglary, road as well as general accident departments. Irukwu (1985) further shows that some small companies in Africa simply organize their insurance as follows: Life Department: which handles all ordinary life and group life business (volume of this business is far less than non-life). Non-Life Department: Handling all branches of non-life business. Claims department: handling claims emanating from all departments, and An agency or marketing department. He further showed that a typical, composite and fairly large insurance company would organize insurance under the following departments: Life department: with all the appropriate sections as indicated below. Non-Life Departments as follows: fire, marine, accidents and motor (vehicle) as well as service and general departments such as the reinsurance department, the agency or marketing departments and an accounts department. The large or more sophistical insurance companies have a marketing development department and a public relations department. For Islamic insurance the importance of a public relations department cannot be overemphasized. Islamic insurance have now become popular in many part of the world including non-Muslims countries like America, UK and Europe, as it is today Islamic insurance global market was said to be estimated at $2.1 billion as at 2001 and it has been growing at more than 15% per annum since 2000. As of 2006 in Middle east alone Islamic i nsurance generate $6.9 billion in premium income, it was also expected to grow to be worth $14 billion by the year 2015 despite the global financial turmoil, according to the latest Swiss Reà ¢Ã¢â€š ¬Ã¢â€ž ¢s report.

The Role Of Traditional Management Accounting Techniques

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Duck Farming free essay sample

How to Raise Ducks †¦ 1 2. Advantages of Raising Ducks There are several reasons why Filipino farmers should raise ducks in their farms or backyards. Consider the following: Good source of protein. Duck raising provides meat and eggs for the family. Duck eggs are nutritious and provide needed protein for the family. Duck meat can be cooked in even more ways than chicken and is an excellent addition to the family diet. More economical. A farm family will have a daily supply of eggs, and you will be able to sell any surplus eggs for additional income. More practical. Duck raising is more practical for a small backyard project than raising chickens. Ducks are productive for a longer period of time than chickens. You will need to replace your layers only once every 18 months in order to keep production high. This means saving on the cost of replacement stock. Generally, you have to replace your laying flock only twice every three years. Don’t require elaborate pens. The birds do not require any elaborate housing with a multitude of windows, dropping-boards, perches, and nest boxes. Generally, you can keep in ducks in simple sheds at night and let them loose during the day. Rarely affected with diseases. Ducks are very rarely afflicted with coccidiosis, and when this disease strikes, its effects are not as bad as on chickens. The ducks are also not as frequently affected by such fowl diseases as fowl pest and bacillary white diarrhea. Require little labor. Ducks lay their eggs at night or early in the morning, so eggs can be collected in the morning before letting the ducks loose to range during the day. How to Raise Ducks †¦ 2 3. Popular Breeds of Ducks There are several breeds of ducks raised in the country. The Philippine duck (Pateros), the Khaki Campbell, and the Indian Runner are excellent egglayers. For meat production, raise either Peking or Muscovy. There is little purebred breeding stock available in the Philippines and most of the ducks a farmer will be able to purchase will be ducks that are crossed or upgraded. The Philippine Duck This is the most common breed of duck being raised in the country, thus its name. Most Filipinos call it â€Å"itik† or Pateros duck. This breed is a good layer but is a non-sitter. Its plumage is either black, brown, or gray or various color combinations. The average weight of this duck is 1. 5 kilograms; the drake, or male, is 1. 75 kilgrams. Egg production rate, is 175 per laying year. The Khaki Campbell Duck Originally from England, this a cross between the Fawn and White Runner, the Roven, and Mallard ducks. It was introduced here in 1956 by the Bureau of Animal Industry. The males have brownish-bronze lower backs, tail coverts, head, and neck; the rest of the plumage is dull brown. The bill is green and the legs and toes, dark-orange. The female has a seal-brown head and neck, the rest of the feathers and dull brown. The adult duck weighs 1. 80 kilograms, the drakes, 2. 10 kilograms. This breed is a good layer: it lays as many as 300 eggs per laying year. The eggs are fairly large, thick-shelled, and weigh about 70 to 75 grams each. How To Raise Ducks †¦ 3 The Indian Runner Duck This is from the East Indies, but its egg-producing capabilities were developed in Europe. It is classified into three recognized varieties: Pencilled, White, and Fawn-and-White. However, these varieties have one thing in common: their feet and shanks are either orange or reddish orange. Generally, the Indian Runner duck is a small, hard-feathered duck with an upright carriage and active habits. Its body is elongated and somewhat cylindrical; the legs are set very far back. The adult duck weighs about 1. 80 kilograms; the drake, 2. 10 kilograms. Egg production rate is 225 per laying year. The Peking Duck A native of China, this duck was improved in North America and Europe. It has a white body and orange bill, legs and feet. The Peking duck has a large, round head; its body is broad, of medium length and without any indication of keel, except a little between the legs. Peking ducks grow twice as fast as chickens. A bird can weigh 2. 50 kilograms in seven to eight weeks. They are also hardy and resistant to most diseases. The main problem with the Peking duck is its low hatchability. At one time this breed was very popular in the Philippines, but it lost much of its popularity because of low hatchability. Its egg production rate is only 200 per laying year. The Moscovy Duck This duck is sometimes mistaken for a goose. It is a grazer, eating grass and laying eggs just like a goose. This is a common duck in Central and South America and the West Indies. A native of Brazil, it is now very popular around the world – even in Australia. In the Philippines, it is now called â€Å"pato. † Like the itik, it requires minimal care and feed and can fend for itself. However, here is a word of caution: The Muscovy duck is armed with very long and sharp talon-like claws that could open up your wrist or hand. If a raiser must handle this bird, he should grasp it firmly by the wings where they join the body, and by the neck. How To Raise Ducks †¦ 4 He needs to keep out of the way of its claws. The adult duck weights about 2. 30 kilograms; the drake, 4. 60 kilograms. Egg production is 125 per laying year. The Muscovy is an excellent mother and can be used to hatch eggs of other egg-type ducks. The young Muscovy are excellent for food, but the older birds have a â€Å"musty† taste. Muscovy ducks should be raised in areas where the food supply is limited and where duck technology is not well developed because the Muscovy is the hardiest of all farm poultry. How To Raise Ducks 5 4. Selecting the Right Breed Two Classes of Ducks There are two classes of ducks which farmers can raise: egg class and meat class. In the Philippines most ducks are raised for eggs which are consumed by the family or made into balut and penoy. Balut – a hard-cooked 18-day incubated duck egg – is regarded as a delicacy by most Filipinos. Salted eggs – known as maalat or itlog na pula – are also very popular. Meat class ducks, also known as green ducks, are raised commercially only on a limited scale, but with the introduction of the Peking duck in the Philippines the meat class ducks are becoming more popular. The first thing you must do in duck raising is to select the right breed to raise. As on expert puts it: â€Å"Choosing an appropriate breed will play an important role in the success and failure of the duck project. † Unfortunately novices often assume that a duck is a duck, and just acquire the first web-footed, quacking bird they find. This mistake frequently results in expensive eggs or meat, problems, and a discouraged duck raiser. Investing a little time at the outset in acquainting yourself with the basic characteristic attributes and weaknesses of the various breeds will go a long way toward eliminating unnecessary disappointments. The following questions will help you identify the needed features of birds for your flock: Purpose. What is your main purpose for raising ducks? Is it for eggs, meat, feathers, or a combination of these factors? How To Raise Ducks †¦ 6 Location. Where are you located? Some breeds are noisier than others, a fact which you should take into consideration when neighbors are nearby. Noisy breeds also attract predators. Management. How are you going to manage the flock? Will you confine it to a small pen or allow it to roam in a large area? Availability. What breeds are available in your locality? Some breeds are rare, making them more expensive and difficult to attain. How To Raise Ducks †¦ 7 5. Buying and Managing Ducks Buy breeding stock from reliable duck raisers in your locality. Start with day-old ducklings. But be sure to buy those birds which have the following characteristics: steady legs alert eyes healthy-looking down feathers no physical defects Do not buy ducklings which seem to be â€Å"sleepy. † If you are buying ducklings for egg production, try to purchase from a farmer who has a good egg production from his flock. Sexing Ducklings Separate the males from the females right after you get them from the seller. Male ducklings, unlike day-old chickens, possess a well-developed copulatory organ or penis. To determine the sex, place the ducklings on the palm of the left hand upside down, with the abdomen facing the sexer. Press the thumb of that hand on the abdominal region near the vent with the forefinger resting at the base of the tail. Now, with the right hand middle and forefinger press the tail backward while the thumb of the right hand is used to stretch the vent, thus everting the cloaca. In the male, a tiny projection of the sex organ (which looks the tip of a ballpoint pen) is exposed to view; in the females this is absent. The distinguishing mark will appear only when the technique is right. (See illustration on next page. ) How To Raise Ducks †¦ 8 SEXING DUCKLINGS How To Raise Ducks †¦ 8A Critical Periods The most critical period in the life of ducklings is the first three weeks. The ducklings are very nervous during this period. A slight disturbance would cause them to stampede and crowd in a corner thus resulting in the death of the weaker ones. It is, therefore, important to approach them with care during this period. Unnecessary disturbance must be avoided. When your ducklings show signs of sickness, give them a solution of three tablespoons of Noxal in one gallon of water for two to three days. Withdraw medication for three days, then give it again for another three days. Terramycin can also be used. Simply follow the instructions on the drug package. To prevent avian pest, immunize your ducklings with avian pest vaccine which is obtainable from the Bureau of Animal Industry (BAI). How To Raise Ducks †¦ 9 6. Brooding Brooding is the process of providing ducklings with outside heat to assist them in maintaining their body temperature. Egg class ducks like the Philippine duck, the Khaki Campbell, and the Indian Runner are non-sitters, thus, it is necessary for the ducklings to be brooded artificially or to use a mother hen or Muscovy duck. Two Systems of Artificial Brooding There are two systems of brooding ducklings artificially: litter floor brooding and wire or slat floor brooding. The former is used in large pen brooding. Litter is the material placed on top of concrete or dirt floors of duck pens. Common litter materials used are rice hulls, wood shavings, chopped rice straw, ground corn cobs, and other similar materials. These are spread on the floor of the brooding pen, and the ducklings are kept on the floor of the pen. Wire or slat floor brooding could be a whole pen, a cage, or a battery brooder. This is different from the litter system because its floor is not covered with litter materials. However, during the first few days, the slat or wire floor is lined with paper or other similar materials to conserve heat and to provide a feeding area right where the ducklings would stay. Construct a simple shed-type house to be used as a brooder. It should be draft-free and keep the ducklings warm and dry at all times. It should also protect them from predators and the elements. Proper ventilation is essential in brooding. However proper ventilation does not mean exposing ducklings to rain and strong winds. In a brooder house with wire mesh or slat walls, provide curtains made of empty sacks or burlap at the sides of the house. Empty feed bags will serve this purpose. You may raise or lower the curtains depending on weather conditions. How To Raise Ducks †¦ 10 Natural Brooding The oldest brooder, still used particularly in most backyards, is the mother hen and/or Muscovy duck. These furnish from their bodies the additional heat needed by the ducklings. This method, which is rarely used in commercial-scale production, is the natural way of brooding ducklings and is most practical for the backyard producer. But in all commercial duck farms, the Muscovy duck has been replaced by artificial brooders. While a Muscovy duck can brood at most only about 15 ducklings, artificial brooders can be used for hundreds of ducklings at a time. Today, there are many types of artificial brooders. They vary in design, fuel used to supply heat, and size. Some brooders can accommodate 50 ducklings while others can brood as many as several thousand at a time. Classification of Brooders Gapuz (1973) classified brooders according to source of heat: Electricity: This is the most common source of heat in brooders. Incandescent bulbs with or without hovers are generally used. A 50-watt bulb raised about 6 inches from the brooder floor can give enough heat for 50 ducklings. You can use an aluminum basin as a hover. The hover directs the heat and reflects the light to the ducklings. The electric heater-type brooder uses a resistant coil built with a hover. Heat is generated in the resistant coil. A thermostat automatically regulates brooder temperature. A recent development in artificial brooders is the use of infrared electric bulbs. The infrared brooder consists of 4 large heat bulbs mounted on a disc about a foot in diameter. This is hung from the ceiling and the rays from the bulbs warm the ducklings. A thermostat automatically puts off two bulbs at a time when the desired temperature is reached. How To Raise Ducks †¦ 11 BROODING DUCKLINGS How To Raise Ducks †¦ 11A Since it has no hover, the infrared heater has the advantage of being light and moveable. Also you can easily observe dead ducklings, trampling, and other behavior of ducklings even from outside the brooding pens. This method is not very popular, however, because of the very high cost of infrared bulbs. Kerosene: If there is no electricity in your place, you can use kerosene lamps as the source of heat. You can easily brood 30 or more ducklings with an ordinary kerosene lamp with a glass casing. The temperature can be raised or lowered by adjusting the wick. There are commercially manufactured kerosene brooders equipped with supply tank, thermostat, and hover. When you use kerosene brooders, be sure that the brooding pen is adequately ventilated. You will notice that in commercially manufactured brooders, there are holes on the hover directly above the flame. These holes allow carbon monoxide fumes to escape. A large amount of these fumes inside the brooder is very harmful to ducklings. Watch out, too, for tanks that leak and for spilled kerosene. The open flame in this type of brooder is a fire hazard especially if you practice litter-floor brooding. Charcoal or Wood and Rice Hulls: In places where electricity or kerosene is expensive or not readily available, you can improvise a heater or stove out of a can, charcoal or wood, and rice hulls. This is how you make this heater: Get a large empty kerosene or paint can and punch small holes around it. Hang the can about 8 inches from the floor. Put burning charcoal or wood inside and gradually add rice hulls until the can is full. How To Raise Ducks †¦ 12 Be sure, however, that ducklings have enough space in which to draw away in case the can becomes too hot. This type of brooder requires a lot of work. Also, there is the risk that burning may drop to the floor and start a fire. Because of this danger, charcoal heaters are not recommended for use in littered pens. When brooding ducklings, the temperature should be 95 degrees Fahrenheit in the first week, 85 degrees Fahrenheit in the second week, 75 degrees Fahrenheit in the third week, and 70 degrees Fahrenheit in the succeeding weeks. The behavior of the ducklings is a good indicator or whether the brooding temperature is right. They huddle close together when the temperature is low; they scatter or spread out when it is too hot. If you’re having trouble deciding how much floor space to allow for each duckling in the brooder, Table 2 will help you. TABLE 2 Recommended Minimum Floor Space per Duckling in the Brooder Age (in weeks) Day-old to one 1-2 2-3 3-4 Floor space per bird (in sq. meters) 0. 03 0. 05 0. 07 0. 09 Source: The Philippines recommends for Duck Raising 1977. How To Raise Ducks †¦ 13 7. Housing and Other Facilities Site Selection Although raising ducks near bodies of fresh water like creeks, rivers, lakes, or irrigation canals is ideal because of the natural food that is available, it’s not a requisite. Duck raising experts say that the bird only expends more energy (and, consequently, requires more nourishment) in swimming. Moreover, bodies of water are susceptible to pollution. The Duck House Build duck houses using easily available and cheap materials such as bamboo, ipil-ipil, kakawate, coconut wood, nipa shingles, cogon or talahib. Construct a one-compartment shed with only the front side open. This side may face the body of water in your area and serve as the entrance for the flock and its caretaker. Fence an open area in front of the shed to serve as the flock’s feeding – playing space. If you do not have a body of water, you may provide clay or plastic water tubs or concrete ponds for the ducks to swim or wade in. In you’d prefer the latter, it should measure about 10 by 8 feet, with water two feet deep, for a flock of about 50 ducks. Elevate the floor of the shed at least 15 centimeters higher than the level of the ground in the feeding area, then cover it with a 10-centimeter layer of rice hull litter. Always keep the litter dry and replace it as often as possible. Old hulls can be composted and used as fertilizer for your farm or garden. Ducks should be housed in groups based on age to facilitate management and to avoid the quarrels common among ducks of different ages. Old ducks tend to bully out young ones from feeding troughs. How To Raise Ducks †¦ 14 DUCK FIXTURES How To Raise Ducks †¦ 14A Fixtures The following fixtures are needed in raising ducks: Nests: Ducks make temporary nests in the litter and nest boxes are not essential; however, to produce cleaner eggs they may be provided with simple communal nests along the wall. Muscovy ducks particularly should be provided with nests. Watering Troughs: It is recommended that watering troughs be placed above wire flooring or screen-drained (putting screen above the ground level) if placed inside the house. This is to prevent the floor from becoming wet. It is recommended that water be made available at all times. Waterers should be near the feed trough as the ducks have the habit of gulping the feed and running to the waterer to wash the feed down their crop. Feeding Troughs: There are various kinds of feeders. Select the kind that will best suit your purpose. The design should be adapted to the housing need. The construction should avoid wastage of feed. You can make feeding troughs of bamboo. How To Raise Ducks †¦ 15 8. Feeds and Feeding The primary function of feed is to help maintain life. The feed that is supplied – whether it be vegetable, animal or mineral in origin – is transformed into something useful to the body. In other words, the feed must be able to supply materials needed for the manufacture of the different tissues and organs of the body of the ducks, as well as those for building up energy needed in the proper functioning of the different organs concerned in the complicated processes of living. In addition, there should be excess materials so that the ducks can reproduce. Because no one feed can supply all of these materials in the proper amount and proportion, a number of feeds are combined so that whatever deficiencies one may have can be supplied by others. The Nutrients The constituents of feeds that are needed by ducks are called nutrients. These are (1) water, (2) carbohydrates, (3) protein, (4) minerals, and (5) vitamins. Water: An abundant supply of water is essential for maximum egg production and growth. Lack of water affects digestion and feed efficiency. When water supply is deficient or irregularly given, egg production goes down immediately. Water softens feed and aids in the digestion, absorption, and transport of feed nutrients. It cools the body and equalizes body temperature. Carbohydrates: These constitute the bulk of poultry feeds. They are the energy source which is essential to supply body heat. All of kinds of feedstuff rich in starch, sugar, and fat are good sources of carbohydrates. The principal sources of energy for feeding ducks are grains or cereals of all kinds. For example, corn and its by-products, rice and its by-products, and sorghum. Fats and oils from both animal and plant sources are concentrated sources of energy. How To Raise Ducks †¦ 16 Protein: Second in bulk among the nutrients for duck feeding, it is essential for building of body tissues. It is very important for both growth and reproduction. Minerals: This group of nutrients is essential to growth and reproduction. Bone formation is impossible without minerals. Eggs will be laid without any shell in the absence of calcium. The minerals needed by poultry are calcium, chloride, iron, sodium, iodine, copper, sulfur, zinc, manganese magnesium, selenium, molybdenum, and fluorine. Of these minerals, only calcium and phosphorus are needed in large amounts, and they must be supplied in concentrate form in the diet. Vitamins: These are food nutrients needed in very small quantities but essential to life. They are grouped into the fat soluble and the water-soluble one. The former is represented by vitamins A, D, E and K. The latter group includes all the vitamin B-complex such as thiamin or vitamin B-1, riboflavin, niacin, (nicotinic acid) pyridoxine (vitamin B6), pantothenic acid, inositol, folic acid, biotin, choline, and vitamin B12. Feeding Practices For backyard duck raising, feed your day-old ducklings with moistened cooked rice to five times in 24 hours for three weeks. Starting on the fifth day, include finely mashed Golden Apple snails in the ration. Increase the quantity of rice as the ducklings grow older. Be sure to provide clean water in the troughs every day. You can also feed your ducklings with a recommended starter ration. Starting on the second month, give the birds tiny snails. Then gradually mix rice bran in the ration until the ducks reach laying age. If the eggs are intended for balut or hatching, place drakes (males) with the layers. Many duck raisers give their ducks concentrate feed ration in mash form. While concentrate feed rations are good for your ducks, they are rather expensive and not recommended for backyard duck raising. Mash is a feed mixture containing ingredients in ground form. How To Raise Ducks †¦ 17 It contains a specified amount of protein and the ingredients are concentrate feedstuffs. They contain all the food nutrients in proper amount and proportion to meet the specific requirement of different classes of ducks. Commercial brands of mashes differ in some ingredients and in the proportion of ingredients. Ration In duck raising, the word ration refers to composition of daily diet of the fowls. There are rations for a number of purposes, such as laying, starting, growing and fattening. The ration should be adapted to the purpose in view; otherwise, there will be unnecessary waste of nutrients. For instance, laying rations should contain more protein. The starting ration may be about the same as laying ration, but the fattening ration differs from either of these in that it is composed largely of carbohydrates and fats. You need to give your ducks a balanced ration †¦ one that furnishes the nutrients in a proportion that will properly and without waste or excess of the nutrients, feed a flock of fowl for a certain length of time. Feeding is very important in raising ducks. It is necessary that a raiser must be familiar with the common feed ingredients that supply each nutrient. Below are the common feed ingredients which can be secured locally. 1. Sources of carbohydrates and fats (energy) a. Rice bran – The composition of rice bran varies according to its kind and quality. The good quality fine rice bran contains about 11 percent protein. It can be a good source of energy. It is usually high in fiber but contains an adequate amount of fat. b. Ground corn – There are two common varieties for feeds: the yellow and the white. Both contain the same amount of energy and protein. The yellow corn, however, contains carotene (pro-vitamin A) which is the precursor or forerunner of vitamin A. This is why some duck raisers prefer or demand yellow corn The ground corn has a crude protein content of 8. 9 per cent. How To Raise Ducks †¦ 18 c. Copra meal – This is the by-product of coconut meat after the oil is extracted. It contains an adequate amount of carbohydrates but is used for its proteins. It has about 21 percent crude protein but is low in the amino acid methionine. 2. Sources of protein a. Fish meal – This is a good source of high-quality protein. On the average, a good fish meal contains 60 to 65 percent protein. It also contains an adequate amount of carbohydrates and fats. The value of fish meal depends upon the amount of protein in it. b. Soybean oil meal – This contains about 44 percent crude protein and is also a good source of energy. This is the only plant protein source that can replace animal protein in the diet of ducks. c. Shrimp meal – This is another good source of protein. It contains about 56 percent crude protein but is low in energy. It may be used as a substitute for fish meal. d. Ipil-ipil leaf meal – This is very common in the country and is considered â€Å"the alfalfa of the Philippines. † It contains about 21 percent protein and is a good source of Vitamin A. e. Snails – An excellent source of protein. It also contains almost all nutrients that ducks need. For further information about snails, read the next chapter. 3. Source of Usually Added Minerals a. Oyster shells and limestone – These two products are good sources of calcium for ducks. b. Bone Meal and rock phosphate – These are the most widely used sources of phosphorus for duck feeding. How To Raise Ducks †¦ 19 c. Salt – Common table salt (sodium chloride) is the most common source of sodium and chloride for poultry. Be sure that the proper amount of salt is given to the fowls. Too much salt is dangerous to them. 4. Vitamin Supplements Vitamin-mineral and antibiotic feed supplements are available in concentrate forms commercially. Compounding of feeds: The most common duck feed ingredients in the country are ground corn, rice bran, copra meal, soybean oil meal, fish meal, ipil-ipil leaf meal, oyster shell powder, bone meal and common table salt. With these feedstuffs you can compound a feed for different classes of birds (ducklings, growing ducks, and layers). In the same way that a carpenter must have a plan before constructing a house, you must have a feed formula before mixing a feed. Formulas are computed so that proper amounts of protein, vitamins, and minerals are included for maximum growth and production. The success of your project greatly depends on the quality of feed you give to your ducks. Tables 3, 4, and 5 are feed formulas recommended by the Bureau of Animal Industry (BAI) for starter ration, grower ration, and layer ration. TABLE 3. Starter ration (To be given when ducks are 1 day to 6 weeks old). Ingredients Ground corn Rice bran, first class Copra meal Soybean oil meal, 44% Fish meal, 50% Ipil-ipil leaf meal Oyster shell powder Bone meal Salt How To Raise Ducks †¦ Volume (kilograms) 40 15 4. 5 20 10 5 1 1 0. 5 20 TABLE 4. Grower ration (To be given when ducks are 6 weeks old and above). Ingredients Ground corn Rice bran, first class Copra meal Soybean oil meal, 44% Fish meal, 50% Dried whey Ipil-ipil leaf meal Oyster shell powder Bone meal Salt Volume (in kilograms) 45 15 4. 5 15 10 2 5 2 1 0. 5 TABLE 5. Layer ration Ingredients Ground corn Rice bran Soybean oil meal Copra meal Fish meal Ipil-ipil leaf meal Oyster shell powder Bone meal Salt Volume (in kilograms) 40 20 10 10 7. 5 5 4 1 0. 5 In addition to these mixed feeds, you can also feed your ducks plenty of chopped green leaves like kangkong, camote, and cassava. Give each duck at least 10 grams of chopped green leaves every day. How To Raise Ducks †¦ 21 Ducks can also be fed with fresh Golden Apple snails. Studies at the MBRLC show that Golden Apple snails in the ducks’ diet help increase egg production. Read Chapter 9 for a ration using snails. For a complete, all purpose feed for your ducks, the MBRLC recommends the following ration: TABLE 7. All purpose feed ration. Ingredients Binlid Tiki-tiki, first class Ipil-ipil leaf meal Soybean oil meal Copra meal Meat and bone meal Shell powder (lime) Salt Afsillin Volume (in kilograms) 30 34 4 15 8 7 2 0. 50 0. 25 You can modify this formula by substituting some of its ingredients with locally available feeds such as chopped kangkong, crushed snails and grated coconut. You can substitute kangkong for ipil-ipil and soybean oil meal, grated coconut for copra meal, snails for meat and bone meal or fish meal and shell powder. You can also reduce feed costs by practicing field pasturing. This involves bringing laying flocks to fields where rice has just been harvested and letting the ducks loose to feed on fallen rice grain, grass seed, snails, and insects. Depending on the length of the rice harvest, the ducks may stay on pasture for as long as one month. A raiser may keep transferring his birds from one harvested area to another. He can drive the ducks into improvised enclosures at night. In the morning he can gather the eggs before driving the flocks back to the fields. How To Raise Ducks †¦ 22 9. The Importance of Snails in Duck Raising Duck raising is often located along bodies of fresh water because snails are readily available. In places where snails are plentiful, the feeding of ducks is very simple. Snails contain almost all the nutrients that ducks need. Snail meat provides protein and its fat gives energy. The shell contains calcium, phosphorus, vitamins, and minerals. Ducks fed with good quality snails have a very high egg production rate. A problem that has plagued duck raisers even in the old days is the scarcity of snails at certain times of the year, particularly during the rainy season. On rainy days, the water becomes cloudy and rises to a level that makes gathering snails virtually impossible. Snails gathered at this time are generally of poor quality; the gatherer also gets a lot of empty or dead snails. When fed to ducks, dead snails could cause effects similar to poisoning. In the past, the raisers were confident that they could recover their losses once they got over the scarce period, which did not last for more than three months. 1) The big demand for balut and red salted eggs has encouraged more people to raise ducks for eggs and meat. The increase in the duck population has contributed to a much larger demand for snails. 2) Many rivers, streams and lakes have been heavily polluted by the residues of pesticides, chemical fertilizers, industrial wastes and waste of people who reside beside these bodies of water. 3) The proliferation of fishpens in lakes and rivers has reduced the snailgathering areas and disturbed the ecology of these bodies of water. 4) Siltation, the occasional inflow of salt water from the seas and the presence of other aquatic animals have contributed to the reduction of the natural snail population. How To Raise Ducks †¦ 23 The introduction of the Golden Apple snail in the country in 1984 was very much welcomed by the duck raisers. A study was made by the Asian Rural Development Foundation to determine if this kind of snail can increase the egg production of ducks. We are feeding our ducks with this formula: crushed Golden Apple snail plus rice bran mixed with broken corn at ratio of one part snail, one part rice bran and one part corn. Some green leaves like kangkong and leguminous cover crops are given at free access. Preliminary results show that these ducks give 60 to 70 percent egg production which are of high quality. For further information about raising Golden Apple snails, turn to Chapter 15. RAISING SNAILS FOR DUCKS How To Raise Ducks †¦ 24 10. Mating Laying Ducks The selection of ducks fo