The Impact Of Financial Crisis Globally And Bahrain Finance Essay - Free Essay Example

Sample details Pages: 13 Words: 3766 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? In this research, I will discuss about the economic crisis in the world in general and Bahrain in particular, in terms of how it affects the social the individual and the community. I will also discuss about what causes the cost of living to be high and unemployment in society and, what the solutions available are. In addition I will be sharing some examples of questionnaires to deepen and further clarify the reasons. Don’t waste time! Our writers will create an original "The Impact Of Financial Crisis Globally And Bahrain Finance Essay" essay for you Create order Moreover, I will concentrate on how the crisis affected every member in a typical Bahraini family in terms of costs of living and unemployment I will talk about four major topics, namely: Management of individuals in the economic crisis Procurement management under the economic crisis. Manage customer and sales amid the economic crisis Departments threatened demobilization under the economic crisis Timeline: The following are the major stages through which the financial crisis that erupted in early 2007 in the United States and began to hit Europe. February 2007: lending to non-payment mortgage (granted to the Debtors do not have adequate capacity to pay) condenses in the United States and the first cause of bankruptcies in the banking institutions specialized. August 2007: stock is deteriorating at risk for the widening crisis; central banks intervene to support market liquidity. Introduction: The financial crisis is the worst effects of mortgage crisis that surfaced in 2007 due to the failure of millions of borrowers to buy houses and real estate in the United States to pay their debts to the banks. This has led to a strong jolt to the U.S. economy, reaching consequences to the economies of Europe and Asia on their way, throwing a large number of major banks and international financial institutions. Hundreds of billions of dollars have been injected into the global capital markets to end the mortgage crisis, but have failed to do so. What was simmering below the surface even evolved into a global financial crisis. Now, many officials fear that the overthrow regimes of global economic will arrive at implications to many parts of the world. The financial crisis has harmed worldwide economies and will continue to do so for some period of time. For instance, the International Labor Organization expects the Arab world to lose five million jobs in between 2009 and 2010, declining remittances from migrant workers to a large extent and placing a burden on the countries that send workers abroad. Moreover, Even oil-rich Gulf States are the will be affected, although with varying degrees of intensity. The drop in oil prices will push governments to examine their budgets. Locally, the economic crisis in Bahrain has affected significantly the financial and monetary sectors of the Kingdom, and the consequences of the financial crisis will continue to cast a shadow on the market (Bahrain, Gulf and Arab alike). Unfortunately, this has increase the likelihood that banks and corporations in the Kingdom will start dismissal procedures for employees (which has already). This act is threatening the 8,248 Bahrainis working in the financial Sector, according to figures from last year. A temporary solution to this crisis has started in banks, known as the demobilization procedures has been applied in all countries of the world, as well as Bahrain, to reduce t he size of the staff. Thereby, reducing the operating costs of banking institutions by reducing employees, or even Real Estate, stressing that if it is applied effectively, will have direct positive effects on banks. Yet, it will threaten the jobs of many employees and will have a direct negative effect on the unemployment rate. The fact that some banks has laid off employees as a precautionary measure to maintain their profitability is normally carried out by various institutions of the financial world. This would be considered as an opportunity if the matter was anticipated for the implication of the crisis on the sector as a whole and the institution in particular. Yet at the same time in human rights, to lay off employees is complicated because it involves not only the lives of employees but also their families. Therefore, it would have direct consequences on the society as a whole. Nevertheless, banks are required to review all policies including firing and even recruitme nt as they are facing many troubles nowadays. These troubles include the disappearance of liquidity, decline in demand and the possibility to stop projects. Therefore, although laying-off is a serious problem to the society, the non- profitability of banks would also have consequences (mentioned above) that can harm the society. As a result, I believe that the issue of laying-off employees can be debatable. Article Reviews The economic crisis The next disaster Mr. Ibrahim Sharif Alwasat newspaper New York and London are the source of the greatest calamity in the real estate sector. It has become more like a massacre shares, where the Saudi stock index lost 55% of its value this year, while Dubais index fell 66%, noting that stock prices in both markets no more than a quarter of their value. At the beginning of 2006, Bahrain markets were less affected so far because they also were the least to rise. Bahrainis do not feel the sorrows of what is going on stock markets in the region because the vast majority does not have or traded shares in part because of the weakness of income while stock fever control of large sectors of the GCC nationals who handle hundreds of millions of shares every day. Comment: I believe that a solution applicable in Bahrain would be to reduce the magnitude of the shock through monetary and fiscal policies. At the meantime, these policies are in process of denial practiced by officials at the Ministry of Finance and the Central Bank and the government. They claim that everything is fine and that everything is working on a radical solution. Moreover, these officials state that Bahrain is a small country and can resolve the crisis without the intervention. In addition, I believe that in order to solve the problem, the government of Bahrain should focus in educating the citizens of Bahrain about the financial crisis and its consequences, so that the citizens including employees of the banking sector and their families would be aware how to handle this situation and stay away as much as possible from the harms of the crisis. Gulf states where is the Oil? Anesah Al sadoon Alayam newspaper The real economy in the Gulf States is affected by the oil p rice, because this affects the expenses of the State. However, any large and rapid decline in the value of assets will lead to stop the flow of investment in the economy and the bankruptcy or exit of a large number of investors and companies in the real estate and construction sector, especially small businesses the financial situation. The mathematical formula of the governments income is very simple in country-based revenues by 80% on income from oil and gas. Every 10 dollars drop in oil prices cost the Treasury about 240 million dinars annually. The average price of crude oil to the OPEC is 44 dollars per barrel in late trading November 20, while a Bahraini government budget for the next two years on the basis of an oil price of 60 dollars per barrel, an estimated annual deficit of more than 200 million dinars. Comment: I believe that losses of the Bahraini Government do not stop at oil. The Government of Bahrain has 77% of the aluminum factory Alba, and aluminum prices dropped more than 1000 dollars per ton in a few months. As a result, has reduced the income of Alba aluminum. The same applies to the government profits from other sectors such as gas, petrochemical plant and investments.  In addition, current prices in the oil market suggest that the states inability to rise to more than 600 million dinars annually.   Ãƒâ€š Methodology The methodology is the identification of the ways I will achieve my objectives. This section will contain some critical evaluation of particular method of data collection, analysis, target group of people who are affected and research by asking them what ideas are there. This section will also include solutions to solve the issue. Furthermore, I will make sure that the questions are appropriate to my target. Samples Group of government employees Group of graduated students (preferably ones searching for new jobs). The Staff in Ministry of finance and Civil service Bureau (Who have the authority to collect and measure the size of the unemployment and publish it through their website). VI. Data Collection Methods: Primary Data: Questionnaire design and collection methodology Computer applications Analysis of the following publishes statistics of employment VII. Challenges of the Financial Crisis in Organizations In organizations, managers of different departments will face many challenges due to the economic crisis. From these challenges, the management staff should be responsible to directing the management within an organization. Moreover, the flow work of the employees should not be affected by the performance of the organization and vise versa. This is because of the problems faced by the employee, and the resulting economic crisis would put employees in the psychological disadvantage that this will lead to the impact on productivity and thus multiply the effects of the economic crisis on the institution. Moreover the problems facing employees within this case include: 1 The feeling of instability and fear of job loss or reduction of salary. In this situation, the manager should talk with staff about expectations of future of the institution and how the association has planned to address this crisis. Manager should also inform employees that reasons behind the incidence of dispe nsing and reducing the salaries and explain that competence has become a necessary condition in the coming period. 2 Reduce current salaries. Here, manager must convince the staff that this situation is temporary until the institution overcomes the affects of this crisis. Moreover, they should convince the employees that by this act, the organization is not thinking of laying-them off. i. The effects of the Financial Crisis on Purchasing Departments: AS the financial crisis has affected organizations as a whole, the department that would be affected the most in an organization is the purchasing department. This department is responsible for purchases of the organization and is therefore, the only one affecting its budget. Consequently, purchase departments managers should relate the patterns of buying to current events, because the economic crisis increased the alternatives that any organization can purchase. ii. Customer Management and Sales along with the Economic Crisis: This management of any organization is the most affected by the crisis. On the contrary, the management with little effort is the only division that can reduce the impact of the economic crisis on the firm. For instance, client managers in customer management and must be a client management should be fully aware of the circumstances of its clients. They should also be aware of the purchases of the organization and whether these purchases are necessary or not. Not only that, but managers should also consider if the product is not useful to them at the moment, regardless of price. The impact of the activity of this administration to the institution as a whole must cooperate and that all departments of the institution in order to achieve the following objectives: 1-Reduce the price of the product by taking advantage of lower costs and price of inputs. 2- In addition, the senior management of the organization should know that the goal during this crisis is not to make profit but not to make further losses. On the other hand, the Marketing Department in any organization can eliminate the losses of the impacts of t he financial crisis by generating more sales. This can be achieved by the following: 1- Sell economic products, even if by another name, and is it will directed to another class of customers. This way, it will be targeted a larger number of customers. 2- Add attraction to the product by marketing them the right way, and they should preferably be by ways more than entertainment, where the economic crisis of the desire of individuals in the entertainment to forget their implications. 3 Integration of products. The organization should think of presenting more integrated products that can be marketed to different targeted groups. 5 Think of the products that are increasingly in demand because of the economic crisis. These products will eventually activate the organizations product sales. iii. Departments Threatened to be Discharged under the Economic Crisis: Challenges facing the non-influential departments have a direct impact on the corporations activities. While job cuts are becoming a global phenomenon and are increasing at this time, effective managers of these departments should consider following follow some steps to save their departments from the risk of dismissal. Managers, for instance, should consider for ways to enhance the impact of management on the activities of the organization and that this means they have to look for ways to reduce management spending. They should also consider the lowest costs possible while implementing management activities. Other than controlling the Purchase and Marketing departments, there are also other ways to help the organization to overcome the Financial Crisis; including the following: 1 If a single department that influences the activities of the organization is under pressure; the management should support and make other employees participate in this particular department to r educe the pressure. As a result, the work here would be more effective and efficient. 2 Try to enter into joint ventures with other departments affecting the activities of the organization. The management should also listen to employees and managers of other departments who have ideas that can be implemented about lack of employment within their departments. IX. Proposal Results Many people wonder, including businessmen and governments, what is their relationship with the global crisis of financial capitalism? Moreover, two questions come in mind: What is the way out? And, how to survive? In this regard, the following requirements are recommended: 1: The Arab governments, particularly central banks should strive to take strategic decisions on the control of transactions in financial markets, monetary and financial institutions. This means trying to stop and limit the aggravation of the crisis; for example, the effective operation of government control to transactions in money markets. 2: The support of troubled financial institutions with liquidity according to the plans, policies and practical programs under the control of Arab central banks is only a short-term solution and it does not mean they will put an end to this situation. 3: The government should pass laws to prevent certain transactions which were the cause of the crisis, including t he following: Financial derivatives operations of the phantom (Facilitator) and the like. Scheduling of debt and securitization, according to the system rate of interest. The application of Islamic finance. Laundering of money prevailing in money markets. 4: The use of a basket of different currencies, to distribute risks. This will cause the current crisis to recognize scholars and experts of finance and economy in the Arab countries, and that they will be able to control dollar transactions. 5: The Arab funds should stop investing in money markets, the U.S. and European money. They should consider investing only when necessary due to prestigious laws. 6: The establishment of banks and central banks in the Arab union to address this crisis under the auspices of the League of Arab States; as the enormity of the crisis on the level and abilities of each Arab country alone. 7: Directing the movement of money according to Islamic priorities based on necessit ies. Additionally, to stop financing projects located in the area of the luxuries and entertainments in order to maintain the necessities and the needs of poor and middle class people. 8. The application of zakat money and use part of the proceeds to support the inmates because of the crisis. 9: The application of rules, concepts and modes of investment of Islamic finance, where is the savior of this crisis. Result Analysis (Using SPSS) This research aims to answer the following four questions: 1. Is there a relationship between Gender and level of education and is it a direct issue about the cause of the crisis? 2. How did the level of education during the crisis effected Bahrain and GCC countrys? 3. Is there a link between peoples attitudes about the cause of the crisis and solutions to discrete? 4. What is the relation between the GCC countries to discuss about the solutions about the problem of the crisis and is it related to Gender and level of education? The researcher based questionnaire trends of 15 questions divided into the following themes with the question number follows: 1. Causes of the crisis (5+8+9+11) 2. Impact of the crisis on Bahrain and the GCC (2+13+14) 3. Proposed solutions to the crisis (4+15+7+6) 4. Does the GCC countrys seek a solution to the problem (10+12) T-Test ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ 1a- T-test comparing between causes according to gender As results show there is an agreement between male and female And sig .317 ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Group Statistics ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Gender N Mean Std. Deviation Std. Error Mean cause dimension1 female 26 8.0000 2.29783 .45064 male 24 8.0833 1.97631 .40341 Independent Samples Test ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Levenes Test for Equality of Variances t-test for Equality of Means F Sig. t df Sig. (2-tailed) Mean Difference Std. Error Difference 95% Confidence Interval of the Difference Lower Upper cause Equal variances assumed 1.021 .317 -.137- 48 .892 -.08333- .60853 -1.30687- 1.14021 Equal variances not assumed ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ -.138- 47.775 .891 -.08333- .60483 -1.29957- 1.13291 Oneway 1b.Anova analysis for relation between E.d (Educational level) and cause Its shows the mean of high schools students about the crisis different from B.S and Master and a connection in agreement E.D and master in the causes of crisis solution at the level of statistical significance. Sig .278 Descriptives Cause ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ N Mean Std. Deviation Std. Error 95% Confidence Interval for Mean Minimum Maximum Lower Bound Upper Bound High School student 6 9.3333 1.03280 .42164 8.2495 10.4172 8.00 11.00 B.S 34 7.9118 2.27460 .39009 7.1181 8.7054 4.00 13.00 Master 10 7.7000 1.94651 .61554 6.3076 9.0924 5.00 11.00 Total 50 8.0400 2.12814 .30096 7.4352 8.6448 4.00 13.00 ANOVA Cause ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Sum of Squares df Mean Square F Sig. Between Groups 11.751 2 5.876 1.314 .278 Within Groups 210.169 47 4.472 ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Total 221.920 49 ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ T-Test  2- T-TEST Comparing effects of gender on the cause of the crisis Females and males both experienced a similar effect resulting from the crisis. Sig .507 Group Statistics ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Gender N Mean Std. Deviation Std. Error Mean Effects dimension1 female 26 5.3846 1.26734 .24855 male 23 5.1304 1.39167 .29018 Independent Samples Test ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Levenes Test for Equality of Variances t-test for Equality of Means F Sig. t df Sig. (2-tailed) Mean Difference Std. Error Difference 95% Confidence Interval of the Difference Lower Upper Effects Equal variances assumed .070 .792 .669 47 .507 .25418 .37985 -.50998- 1.01835 Equal variances not assumed ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ .665 44.869 .509 .25418 .38208 -.51542- 1.02378 2- Anova analysis for relation between cause and E.D I observed that high school students differed significantly in the mean from B.S and master students, whose means were very much alike. Sig .278 Descriptives Cause ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ N Mean Std. Deviation Std. Error 95% Confidence Interval for Mean Minimum Maximum Lower Bound Upper Bound High School student 6 9.3333 1.03280 .42164 8.2495 10.4172 8.00 11.00 B.S 34 7.9118 2.27460 .39009 7.1181 8.7054 4.00 13.00 Master 10 7.7000 1.94651 .61554 6.3076 9.0924 5.00 11.00 Total 50 8.0400 2.12814 .30096 7.4352 8.6448 4.00 13.00 Oneway ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Anova analysis for effects of E.D on couse of crisis ANOVA Cause ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Sum of Squares df Mean Square F Sig. Between Groups 11.751 2 5.876 1.314 .278 Within Groups 210.169 47 4.472 ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Total 221.920 49 ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Oneway 2- Anova anaylysi for effecet E.D on effectson GCC effectsonGCC ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ N Mean Std. Deviation Std. Error 95% Confidence Interval for Mean Minimum Maximum Lower Bound Upper Bound High School student 6 8.0000 .63246 .25820 7.3363 8.6637 7.00 9.00 B.S 34 7.2647 1.48342 .25440 6.7471 7.7823 5.00 11.00 Master 10 6.9000 1.37032 .43333 5.9197 7.8803 5.00 9.00 Total 50 7.2800 1.40029 .19803 6.8820 7.6780 5.00 11.00 ANOVA effectsonGCC ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Sum of Squares df Mean Square F Sig. Between Groups 4.562 2 2.281 1.172 .319 Within Groups 91.518 47 1.947 ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Total 96.080 49 ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Correlations 3- Correlation between cause and solution Almost the same results came for the solution and cause, but overall, the solutions had more results. Descriptive Statistics ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Mean Std. Deviation N cause 8.0400 2.12814 50 solutions 9.0800 1.67624 50 Correlations ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ cause Solutions cause Pearson Correlation 1 .382** Sig. (2-tailed) ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ .006 N 50 50 solutions Pearson Correlation .382** 1 Sig. (2-tailed) .006 ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ N 50 50 **. Correlation is significant at the 0.01 level (2-tailed). T-Test ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ 4a-T-test for comparing solutions GCC Search according to gender This survey displays similar figures in solutions of GCC search, though more males agreed to it than females. Sig .950 ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Group Statistics ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Gender N Mean Std. Deviation Std. Error Mean solutionsGCCsearch dimension1 femal 26 8.7692 1.77331 .34777 male 24 9.4167 1.52990 .31229 Independent Samples Test ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Levenes Test for Equality of Variances t-test for Equality of Means F Sig. t df Sig. (2-tailed) Mean Difference Std. Error Difference 95% Confidence Interval of the Difference Lower Upper solutionsGCCsearch Equal variances assumed .004 .950 -1.377- 48 .175 -.64744- .47021 -1.59287- .29799 Equal variances not assumed ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ -1.385- 47.794 .172 -.64744- .46741 -1.58733- .29246 Oneway ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ 4b-Anova analysis for realtion between E.D(Educational level) and solutionGCCsearch Descriptives solutionsGCCsearch ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ N Mean Std. Deviation Std. Error 95% Confidence Interval for Mean Minimum Maximum Lower Bound Upper Bound High School student 6 8.8333 .40825 .16667 8.4049 9.2618 8.00 9.00 B.S 34 9.2941 1.85095 .31744 8.6483 9.9399 5.00 13.00 Master 10 8.5000 1.43372 .45338 7.4744 9.5256 7.00 11.00 Total 50 9.0800 1.67624 .23706 8.6036 9.5564 5.00 13.00 ANOVA solutionsGCCsearch ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Sum of Squares df Mean Square F Sig. Between Groups 5.288 2 2.644 .939 .398 Within Groups 132.392 47 2.817 ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Total 137.680 49 ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ ÃÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ XI. Discussion I believe that the rules and disciplines of Islamic finance and investment is the savior of the foregoing impacts of the crisis of financial markets. Monetary and Arab capital, in general, and Arab citizens, in particular, believe that the Savior is a commitment to the rules and regulations of Islamic finance and investment. Islamic finance is deduced from the provisions and principles of Islamic law. This can be summarized in the following: * Application of the rules and provisions of Islamic finance and investment. * The application forms of investment and finance based on sales and participation. * The application of the Islamic jurisprudence priorities in the channeling of funds. * The application of the principle of priority to deal with the Arabs and Muslims. * Apply the system ALMS and other Islamic financial system. * Prohibition of all illegal transactions. * Transactions based on the system of interest. * Transactions based on ignorance, fraud, suc h as gambling and speculation. * Transactions of financial derivatives based on the facilitator. XII. Conclusion The financial crisis is one of the greatest economic problems of the century the hit relatively all countries. Countries world-wide have been affected by this crisis by a way or another. This crisis has not affected only the banking sector and organizations but also the society as a whole, therefore, affecting the lives of the citizens of the country, changing their financial state, and affecting their patterns of buying. Therefore, after doing this research I have concluded that by certain steps the government and organizations can follow to reduce the effects of the financial crisis and to know how to handle such a problem in the future, including the following: 1: The need for early attention to correct macroeconomic imbalances, as soon as they arise. 2: States should have been taking caution in advance and through the promotion of their economic policies. 3: Demonstrating the difficulty of the crisis to renew the confidence of the public. This necessarily requires a fo rmal commitment to strictly carry out economic reforms, even if that requires some painful results. 5: The recent developments of capital markets do not reveal about the dangers of global markets Therefore, they should know how to deal with it responsibly through economic policies based on solid foundations of structural reforms that could lead to renewed confidence, and thus help to allocate resources efficiently.