1,041 research outputs found

    Roles and functions of special purpose vehicles (SPV): a comparison between Islamic and conventional finance / Mohammad Soleimani and S. Mustafa Shadab

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    The SPV (special purpose vehicle) is one of the key components of the securitization in both Islamic and conventional finance; however the details of how the transactions are implemented differ subject to the mode of securitization in Islamic and conventional finance. In conventional finance, the bank establishes a SPV and transfers its asset from its balance sheet to the SPV. The assets are used as the collateral for issuing securitized, debt-like instruments. Nevertheless, in Islamic finance mode of securitization, the SPV just services the cash flows for security holders and do participate in debt-issuance. This difference is originated from the risk-sharing principle in asset-based Islamic finance which contrasts with risk-transfer nature of an interest-based conventional finance and results in important differences in ownership right and valuation of SPVs in the two financial systems

    Assessment of multiple choice question exams quality using graphical methods

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    Exams should be valid, reliable, and discriminative. Multiple informative methods are used for exam analysis. Displaying analysis results numerically, however, may not be easily comprehended. Using graphical analysis tools could be better for the perception of analysis results. Two such methods were employed: standardized x-bar control charts with standard error of measurement as control limits and receiver operator characteristic curves. Exams of two medical classes were analyzed. For each exam, the mean, standard deviation, reliability, and standard error of measurement were calculated. The means were standardized and plotted against the reference lines of the control chart. The means were chosen as cut-off points to calculate sensitivity and specificity. The receiver operator characteristic curve was plotted and area under the curve determined. Standardized control charts allowed clear, simultaneous comparison of multiple exams. Calculating the control limits from the standard error of measurement created acceptable limits of variability in which the standard deviation and reliability were incorporated. The receiver operator characteristic curve graphically showed the discriminative power of the exam. Observations made with the graphical and classical methods were consistent. Using graphical methods to analyse exams could make their interpretation more accessible and the identification of exams that required further investigation easier

    Towards adopting Zero Interest Loan (ZIL) and Profit and Loss Sharing (PLS) principle in Islamic microfinance: the case of Amanah Ikhtiar Malaysia

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    Microfinance institutions evolved to alleviate poverty by providing micro-credit to the poor. There have been few poverty alleviation success stories from institutions such as Amanah Ikhtiar Malaysia (AIM). For the majority however, there is no solid evidence to support the positive impacts of microfinance institutions on the poor (Kono and Takahashi, 2010; as cited by Aliyu, 2012). One factor that hinders the positive impact of microfinance institutions on the poor is the inherent nature of the microcredit scheme which charges fixed and high interest rate due to high administrative cost (IRTI, 2007, as cited by Aliyu, 2012). Islamic microfinance evolved to provide alternative to the interest based conventional microfinance. However, the financing modes being used by the Islamic micro-finance institutions (IMFIs) are mostly debt based, which have resemblance to the interest based conventional modes. IMFs shun away from using the PLS scheme, which they consider risky. Theoretically, it is argued that PLS mobilizes factors of production, encourages risk sharing and ensures distributive equity in income and wealth. There is hardly any literature that has shown that PLS is workable in a pristine environment of zero interest. Furthermore, there is hardly any studies that have discussed on the feasibility of financing the poor using a combination of PLS and zero interest financing (ZIF). This study will experiment on the feasibility of providing small financing using a combination of PLS and ZIF to empower the working poor. The research incorporates literature survey, field study and business model applications in its methodology to achieve the desired objectives. The results of this pioneering project are expected to promote the local socio-economic welfare of the poor and provide opportunities in applied areas for future research. © 2013 The IIUM Institute of Islamic Banking and Finance. Keywords: Poverty; Islamic microfinance; Amanah Ikhtiar Malaysia; Equity-based financing; Interest-free financing

    The characteristics of appendicoliths associated with acute appendicitis

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    Introduction: Differences between appendicoliths associated with appendicitis and those found incidentally have not been studied. The objective of this study was to determine the characteristics of appendicoliths that are associated with acute appendicitis. Methods: A cross-sectional study of patients with appendicoliths identified on computed tomographic (CT) scan from January 2008 till December 2014 was conducted. Patients were divided into two group: appendicitis and appendicoliths (AA) and incidentally discovered appendicoliths (IA). Results: Overall, 321 patients were included in the study. Of these, 103 (32%) patients were in the AA group while 218 (68%) patients were in the IA group. Both groups were similar in age and gender distribution. Significantly greater proportion of patients in the AA group had more than one appendicolith [AA vs. IA: 63 (62%) vs. 82 (38%), p \u3c 0.001], appendicolith location at the base [AA vs. IA: 34 (33%) vs. 33 (15%), p \u3c 0.001] and appendicolith diameter of 5 mm or more [AA vs. IA: 71 (69%) vs. 28 (13%), p \u3c 0.001]. On multivariate analysis, more than one appendicolith [Odds ratio (OR): 1.9, 95% CI: 1.1-3.4; p = 0.02] and diameter of 5 mm or more (OR: 13, 95% CI: 7.1-23.6; p \u3c 0.001) were independently associated with acute appendicitis. Conclusion: Multiple appendicoliths and appendicoliths larger than 5 mm are associated with acute appendicitis

    Seasonal distribution of zooplankton composition and abundance in a sub-tropical mangrove and salt marsh estuary

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    Zooplankton composition and abundance at two stations located in exposed (station I) and protected (station II) areas of Bakkhali sub-tropical estuary, Cox's Bazar, Bangladesh were investigated monthly from January 2006 to December 2006. Thirty-three zooplankton taxa were identified. The major groups of zooplankton encountered were Copepoda, Chaetognatha, Mysidaceae, Luciferidae, Amphipoda, Acetes, Hydromedusae, Cladoceran, Decapod and fish larvae. The percent composition of Copepoda was the highest (79.5-84.8%) among zooplankton groups followed by Chaetognatha (5.5-6.0%) and Mysidaceae (3.3-6.8%). The abundance of zooplankton was relatively higher (87674individuals/m3) in protected (mangrove) as compared to exposed (salt marsh; 68719 individuals/m3) site during the study period. Canonical Correspondence Analysis indicated that the abundance of copepods was influenced by rainfall, water temperature and transparency in this estuarine environment, and considered coastal and estuarine dominant

    Length–weight relationships of 20 fish species from Pahang River, Maran district, Pahang, Malaysia

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    This study reports the length–weight relationships (LWR) of 20 fish species from the Pahang River, Maran district, Pahang, Malaysia. The river supplies fishes mainly for local consumption and is a principal body of water for freshwater aquaculture in Malaysia. A total of 12 LWR of fishes were unknown to FishBase, and five new maximum lengths of fishes were identified from the study

    A de novo marker chromosome derived from 9p in a patient with 9p partial duplication syndrome and autism features: genotype-phenotype correlation

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    <p>Abstract</p> <p>Background</p> <p>Previous studies focusing on candidate genes and chromosomal regions identified several copy number variations (CNVs) associated with increased risk of autism or autism spectrum disorders (ASD).</p> <p>Case Presentation</p> <p>We describe a 17-year-old girl with autism, severe mental retardation, epilepsy, and partial 9p duplication syndrome features in whom GTG-banded chromosome analysis revealed a female karyotype with a marker chromosome in 69% of analyzed metaphases. Array CGH analysis showed that the marker chromosome originated from 9p24.3 to 9p13.1 with a gain of 38.9 Mb. This mosaic 9p duplication was detected only in the proband and not in the parents, her four unaffected siblings, or 258 ethnic controls. Apart from the marker chromosome, no other copy number variations (CNVs) were detected in the patient or her family. Detailed analysis of the duplicated region revealed: i) an area extending from 9p22.3 to 9p22.2 that was previously identified as a critical region for the 9p duplication syndrome; ii) a region extending from 9p22.1 to 9p13.1 that was previously reported to be duplicated in a normal individual; and iii) a potential ASD locus extending from 9p24.3 to 9p23. The ASD candidate locus contained 34 genes that may contribute to the autistic features in this patient.</p> <p>Conclusion</p> <p>We identified a potential ASD locus (9p24.3 to 9p23) that may encompass gene(s) contributing to autism or ASD.</p

    Inter-linkage among some physico-chemical and biological factors in the tropical mangrove estuary

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    The interaction between abiotic and biotic parameters in an ecosystem usually shows health and functioning of the system. Thus, some physico-chemical parameters, phytoplankton abundance, chlorophyll a and primary production of the mangrove estuary in Sarawak, Malaysia were extensively investigated from January 2013 to December 2013 in order to establish the inter-linkage among them. The Pearson correlation coefficient revealed a significant relation between atmospheric and water temperatures (r = 0.692). Similarly, surface water temperature showed a significant positive correlation with salinity (r = 0.744), TDS (r = 0.708) and conductivity (r = 0.776). The light extinction coefficient (LEC, K) changed negatively in relation to TDS (r =-0.623), conductivity (r =-0.644) and surface water temperature (r =-0.766). Ammonium showed a negative correlation with rainfall (r =-0.620) but a positive correlation with salinity (r = 0.600). The biological variable such as phytoplankton abundance was found to be positively correlated with chlorophyll a (r = 0.692), ammonium (r = 0.645) and silica (r = 0.644) and negatively with rainfall (r =-0.644). The canonical correspondence analysis revealed a strong positive correlation between environmental parameters and phytoplankton species. The analysis of variance disclosed significant seasonal differences in salinity, water temperature, TDS, conductivity, LEC, ammonium and chlorophyll a

    Procedural Factors Associated With Percutaneous Coronary Intervention-Related Ischemic Stroke

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    ObjectivesThis study sought to determine whether procedural factors during percutaneous coronary intervention (PCI) are associated with the occurrence of ischemic stroke or transient ischemic attack (PCI-stroke).BackgroundStroke is a devastating complication of PCI. Demographic predictors are nonmodifiable. Whether PCI-stroke is associated with procedural factors, which may be modifiable, is unknown.MethodsWe performed a single-center retrospective study of 21,497 PCI hospitalizations between 1994 and 2008. We compared procedural factors from patients who suffered an ischemic stroke or transient ischemic attack related to PCI (n = 79) and a control group (n = 158), and matched them 2:1 based on a predicted probability of stroke developed from a logistic regression model.ResultsPCI-stroke procedures involved the use of more catheters (median: 3 [quarter (Q) 1, Q3: 3, 4] vs. 3 [Q1, Q3: 2, 3], p < 0.001), greater contrast volumes (250 ml vs. 218 ml, p = 0.006), and larger guide caliber (median: 7-F [Q1, Q3: 6, 8] vs. 6-F [Q1, Q3: 6, 8], p < 0.001). The number of lesions attempted (1.7 ± 0.8 vs. 1.5 ± 0.8, p = 0.14) and stents placed (1.4 ± 1.2 vs. 1.2 ± 1.1, p = 0.35) were similar between groups, but PCI-stroke patients were more likely to have undergone rotational atherectomy (10% vs. 3%, p = 0.029). Overall procedural success was lower in the PCI-stroke group compared with controls (71% vs. 85%, p = 0.017). Evaluation of the entire PCI population revealed no difference in the rate of PCI-stroke between radial and femoral approaches (0.4% vs. 0.4%, p = 0.78).ConclusionsIschemic stroke related to PCI is associated with potentially modifiable technical parameters. Careful procedural planning is warranted, particularly in patients at increased risk
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