aa article - islamica-me mar 2009 - risk and reward (complete)
TRANSCRIPT
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8/14/2019 AA Article - Islamica-ME Mar 2009 - Risk and reward (Complete)
1/4
qqq,n}chknmh+ke,mgk
Khrmf2
>
n}chknmnlze}pkelp
52
N}chknmH}}ep
Hccgmhpngl
_n}ihl`_eqhr`
O~ Hf}hl Hcn# MJH# J_K# K]N
52+5= _n}i hl` _eqhr`WKhrmf2>4Ch~gup 8 ='1'2> ?458 RK Rhae 52
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8/14/2019 AA Article - Islamica-ME Mar 2009 - Risk and reward (Complete)
2/4
n}chknmnlze}pkelp
58
qqq,n}chknmh+ke,mgk
Khrmf2
>
Hf}hl Hcn n} feh` gj Qehcpf Khlhaekelp hl` ]KE Ohlinla jg Lgg N}chknm Ohli# UHE, Hl hzn` }urrgpe gj M]_ hl``ezecgrkelp nlnpnhpnze}# fe n} nlzgcze` nl kelpgnla# phnlnla hl` rgahk khlhaekelp qnpf zhngu} ruocnm+rnzhpe rhple}fnr},Fe fgc`} hl KOH jgk pfe Nl}pnpupe gj Ou}nle}} H`knln}phpngl#Ihhmfn Ulnze}np~# h} qecc hl K] nl Jnlhlmnhc Emglgknm} jgkpfe ]mfggc gj Gnelphc hl` Hjnmhl ]pu`ne}# Cgl`gl, Hf}hl n} hMJH Mfhpe Fgc`e# hl J_K mepnjne` n}i khlhae hl` h kek+oe gj pfe ]emunpne} hl` Nlze}pkelp Nl}pnpupe &]NN.# UI,
Pfe me`np mn}n} fh} evhmpe` np} pgcc gl pfe acgohc khiep}#nlze}pg mgljn`elme# rgcnpnmhc qncc hl` pfe jnlhlmnhc }empg, Nlpfe hjpekhpf# ]fhnhf+mgkrcnhlp nlze}pkelp} fhze ekeae`h} hl nkrgphlp hcpelhpnze pg ruec~ mglzelpnglhc nlze}pnla,
Pfe xue}pngl ekhnl}4 N} N}chknm nlze}pkelp kepfg`gcga~}ureng pg mglzelpnglhc kehl}7 Hl` kge nkrgphlpc~# n}
}ureng n}i `nze}njnmhpngl rg}}noce u}nla ]fhnhf+mgkrcnhlpnlze}pkelp}7
52+5= _n}i hl` _eqhr`WKhrmf2>4Ch~gup 8 ='1'2> ?458 RK Rhae 58
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8/14/2019 AA Article - Islamica-ME Mar 2009 - Risk and reward (Complete)
3/4
qqq,n}chknmh+ke,mgk
Khrmf2
>
n}chknmnlze}pkelp
5?
Kg`el Rgpjgcng Pfeg~ &KRP.
Ul`e KRP# ul}~}pekhpnm n}i mhl oe `nze}n+
jne` hqh~# h} nlze}pg} }pnze pg ehmf hl ejjn+
mnelp jglpne# qfnmf n} pfe oe}p rg}}noce mgkon+
lhpngl gj n}i hl` eqh`,
Qnpf KRP# hl~ hpnglhc nlze}pg qncc fhze h me+
phnl n}i pgcehlme hl` qncc p~ pg khvnknte pfe
epul jg pfhp cezec gj n}i,
Pfe mglmerp n} exuhcc~ hrrcnmhoce nl N}chknm
hccgmhpngl9 nl gpfe qg`}# KRP n} halg}pnm(
Fgqeze# qfhp n} gjpel gzecggie` n} pfe oefhz+
nguhc nlze}pkelp hlace gj KRP, ]nkrc~ }phpe`#
pfe jhnpf+oh}e` ]fhnhf nlze}pg n} `ejnlnpec~
lgp halg}pnm, Pfegepnmhcc~# nl h mfgnme oepqeel
h fnafe+epul lgl ]fhnhf+mgkrcnhlp }pgmi
ze}u} h cgqe+epul ]fhnhf+mgkrcnhlp }pgmi
&qnpf pfe }hke n}i.# pfe mfgnme qncc lgp oe
hpnglhc, Pfn} qncc mhu}e oefhznguhc hoeh+
pngl} jg pfe ejjnmnelm~ jglpne, Hl nlpee}pnla
mgkrhn}gl mguc` oe oepqeel epfnmhc nlze}pnla
nkrhmp} gl KRP ze}u} N}chknm nlze}pkelp},Pfguaf qe chmi ekrnnmhc ezn`elme# N qguc`
qhae pfhp pfe ecnangu} nkrhmp qguc` cniec~
oe kge,
Ulnze}e gj ]pgmi}
Gle gj pfe ie~ `njjeelme} oepqeel ]fhnhf+
mgkrcnhlp hl` mglzelpnglhc }pgmi }ecempngl n}
pfe lukoe gj }pgmi} hzhnchoce, ]fhnhf+mgkrcn+
hlp }pgmi} mhllgp oe jgk nlpee}p+ g }remuch+
pngl+oh}e` ou}nle}}e} hl` he hc}g e}pnmpe` o~
pfe lhpue gj ou}nle}} hmpnznpe} &lg ahkocnla#
rgi# hk} hl` hkkulnpngl# epm., Pfn} evmcu`e}
znpuhcc~ hcc gj pfe ohlinla hl` nl}uhlme }empg#
h} qecc h} e}pnmpnla mgkrhlne} qnpf h }uo}phl+
pnhc mgkrglelp gj pfen nlmgke aelehpe` jgk
nlpee}p+oh}e` ehlnla},
Pfee he pqg nkrgphlp nkrhmp} pg mgl}n`e4
Mgq`nla ejjemp4 Pfe evn}pelme gj cnknpe`
}pgmi} nl pfe ulnze}e knafp e}ucp nl h chae
hkgulp gj kgle~ mfh}nla cnknpe` }emunpne}#
qnpf pfe e}ucp oenla hl gzezhcue` }mnr, Pfn} n}
}gkeqfhp }nknch pg evme}} kgle~ }urrc~ nl h
jnlhlmnhc }~}pek mhu}nla nljchpngl,
Mgkkgl}el}e nlze}pnla4 Pfe evmcu}ngl} ejjem+
pnzec~ jgmu} nlze}pkelp} gl pfe ehc }empg# jee
jgk jnlhlmnhc elanleenla ankknmi} hl` evme}+
}nze n}i phinla# h} qecc h} jgccgqnla h }gmnhcc~
e}rgl}noce pfeke,
Pfe lep ejjemp }eek} pg oe h mgl}ezhpnze knv gj
exunpne} qnpf elguaf nlze}pkelp jcgq} pg ieer
pfe zhcue} }phoce pg }cnafpc~ nljchpe`,
Cezehae
Pfe mglmerp gj cezehae &aehnla. fh} oeel pfe
ul`ec~nla rnlmnrce gj aelehpnla evme}}
epul} nl heh} jgk khlujhmpunla pg jnlhlmnhc
elanleenla, Pfe mglmerp gj u}nla }gkeog`~
ec}e} kgle~ hp h jhmpngl gj pfe mg}p gj mhrnphc
}gul`} ze~ elpnmnla, Nl hl emglgknm `gqlpul#
fgqeze# pfn} mhl rgze pg oe `n}h}pgu}# h} npfh}(
N}chknm nlze}pkelp aun`ecnle} o~ `ejhucp `g lgp
pu}p cezehae, Hogze h mephnl cezec gj aehnla#
}pgmi} he evmcu`e` g relhcn}e` o~ mcehl}nla
pfe `nzn`el` &znh rh~kelp pg mfhnp~., Pfn}
el}ue} pfhp jul` khlhae} ieer pfen nlze}p+
kelp} h} ehc h} rg}}noce nl }pgmi} pfhp fhze h
fnaf cg}}+ho}grpngl mhrhmnp~ nl hl emglgknm
`gqlpul, Pfe nkrhmp gj pfe }~}peknm n}i n} jh
ce}} jg pfe N}chknm rgpjgcng ze}u} h mglzel+
pnglhc gle,
H onej achlme hp pfe cezec} gj cezehae gze pfe
ch}p melpu~ mcehc~ `ekgl}phpe pfhp nlg`nlhpe+
c~ fnaf cezec} gj `eop fhze hcqh~} e}ucpe` nl
ce}}+pfhl+`e}nhoce nkrhmp} gl emglgkne}, ^ep#
h} hcqh~}# pfe fukhl kekg~ pel`} pg oe xunpe
}fgp,
Evrempe` epul'n}i
Pfe ie~ xue}pngl ekhnl}4 Nlpfe ru}unp gj qehcpf# n} pfeeggk jg kghc} hl` epfnm}7
52+5= _n}i hl` _eqhr`WKhrmf2>4Ch~gup 8 ='1'2> ?458 RK Rhae 5?
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8/14/2019 AA Article - Islamica-ME Mar 2009 - Risk and reward (Complete)
4/4
qqq,n}chknmh+ke,mgk
Khrmf2
>
n}chknmnlze}pkelp
5=
]uiui h} Ogl Exunzhcelp}
Ogl`} &rhpnmuchc~ }gzeenal nl}pukelp}. he h
mgle}pgle gj rgpjgcng nze}njnmhpngl jg mglzel+
pnglhc nlze}pg}, Pfe~ rg`ume h jcgq gj }phoce
nlmgke qnpf echpnzec~ }hje rnlmnrhc hl he re+
menze pg oe ce}} n}i~, ]uiui gze pfe ch}p jnze ~eh}
qee }hn pg fhze jncce pfn} }rhme jg pfe N}chknm
Nlze}pg, Fgqeze# pfe ]uiui khiep n} }pncc xunpe
cnknpe` nl pek} gj n}}ue} hzhnchoce h} qecc h} cnxun`+
np~ &}emgl`h~ khiep}.,
Jul`hkelphcc~# ]uiui `njje nl pek} gj fhznla h
phlanoce ul`ec~nla h}}ep ze}u} qfhp n} e}}elpnhcc~h rgkn}e pg rh~ nl pfe mh}e gj h mglzelpnglhc
ogl , _ehcn}pnmhcc~# rhp gqle}fnr gj hl h}}ep
&}umf h} hl hnrgp. n} lgp }hcehoce hl ejjempnzec~#
emgu}e gl pfe rnlmnrhc hl` mgurgl rh~kelp cne}
qnpf pfe n}}ue,
Mephnl jul`hkelphc jchq} rgnlpe gup o~ ]fhnhf
}mfgch} &e}remnhcc~ qnpf Qhh`+oh}e }pumpue}.
echpe` pg ]uiui kehl pfhp pfe jupue gj pfn}
nl}pukelp fh} oeel pfgql nlpg n}hh~, Pfn}
phl}chpe} pg pfe mglzelpnglhc h}}ep kepfg`gcga~
oenla }ureng jg ogl` }ecempngl ue pg pfe e}pho+
cn}fe` khiep# h jhn `eaee gj cnxun`np~ hl` nl+
`erpf `hph jg hpnla phl}npngl}'me np rejgk+
hlme,
Mh}f exunzhcelp}
N}chknm ohlinla }ujje} jgk h }ezee `guafp gj
cnxun`np~+oh}e` rg`ump}, Pfn} }pek} jgk pfenlfeelp hze}ngl pg nlpee}p# qfnmf n} ejjempnzec~
pfe mgl}pump jg kg}p cnxun`np~ rg`ump}, Nl pfe ch}p
pfee ~eh}# pfee fhze oeel }gke mehpnze }gcu+
pngl}# rnkhnc~ pfguaf pfe eze}e kuhfhoh hl`
qhihch }pumpue} qfnmf ercnmhpe `erg}np}, Pfee
fhze hc}g oeel }fgp+pek cnxun`np~ }gcupngl} nlpg+
`ume`9 fgqeze# pfe u}hae gj hl` hmme}} pg pfe}e
ekhnl} xunpe e}pnmpnze &e}remnhcc~ jg gzelnafp
hl` }fgp+pek cnxun`np~.,
Gl pfe mglzelpnglhc }n`e# Mh}f n} inla# qnpf h
zhnep~ gj grpngl} jeec~ hzhnchoce,
Mglpelpkelp7
H rue nlphlanoce n} pfe echpnze eaee gj }hpn}jhm+
pngl `enze jgk pfe jhmp pfhp ~gu kgle~ n} hp
qg}p nljcnmpnla lg fhk hl` hp oe}p n} nl cnle
qnpf ecnangu} gocnahpngl},
Pfe rgrglelp} gj mhrnphcn}k qncc haue pfhp pfee
n} }hpn}jhmpngl pg oe `enze jgk khinla kgle~,
Ogpf hrrghmfe} }eek pg fhze echpnze kenp,
Fgqeze# pfe N}chknm }n`e }eek} pg qnl gl kghcagul`}, Pfe ie~ xue}pngl ekhnl}4 Nl pfe ru}unp
gj qehcpf# n} pfee ggk jg kghc} hl` epfnm}7 Nl
pfn} `h~ hl hae# ruocnm grnlngl qncc }fhre pfe
e}rgl}e pg pfn} gze pfe levp jeq ~eh},
Pfe Oe}p Knv
Np n} ezn`elp pfhp pfe lh}melp N}chknm h}}ep hccgmh+
pngl} gjje }gke nlpee}pnla grpngl}, Hp pfe }hke
pnke# h rue N}chknm rgpjgcng chmi} pfe nl}pu+
kelp}# khiep `erpf hl cnxun np~ pg nzhc pfe mgl+
zelpnglhc }epur hp pfn} rgnlp nl pnke, Qnpf pfe ezg+
cupngl gj oefhznguhc nljcuelme} &epfnmhc# ecnangu}#
epm,.# }gjp jhmpg} }umf h} mglpelpkelp hl` pfe re+
merpngl gj oenla }gmnhcc~ e}rgl}noce qncc ahnl
agul` hahnl}p pfe ph`npnglhc lgk} gj rejgk+
hlme hahnl}p oelmfkhi},
Qnpfnl pfe exunpne} qgc # N}chknm }pgmi} rgzn`e h
mgl}ezhpnze hl mgkkgl}el}nmhc hrrghmf qfnmfqncc `ejnlnpec~ oe h }hje fhzel `unla eme}}ngl}
hl` me`np gqlpul},
Fgqeze# pfe oe}p knv }eek} pg oe N}chknm exunpne}#
qnpf h }rnlicnla gj }gmnhc e}rgl}noncnp~# h `h}f gj
ogl`} hl` h }hume gj cnxun`np~ nl}pukelp} &mgl+
zelpnglhc., Np} lgp }urn}nla nl pfn} `h~ hl` hae
pfhp pfe }ureng hccgmhpngl knv fhrrel} pg oe gle
gj ecnangu} pgcehlme hl` fhkgl~,Pfe zneq} evre}}e nl pfn} hpnmce he pfe re}glhc zneq} gj pfe hupfg,
Pgphc Me`np Khiep @eop ' U,], A@R &8.
&8. ]gume4 Le` @hzn} _e}ehmf# ?226
52+5= _n}i hl` _eqhr`WKhrmf2>4Ch~gup 8 ='1'2> ?458 RK Rhae 5=