The Islamic world today passing through a critical period of its history. We are confronted with many problems and find ourselves in limbo , between aspirations and despair. Muslim countries are very weak economically , small country like Britain’s economic GDP growth is equal to all around 60 muslim countries. The size of economy of one state of America which is California is bigger than whole islamic countries. Some comparative figures will indicate how weak we are. Latin America and Asia have shifted away from reliance on exporting natural resources towards manufacturing and services. The Middle East, however, still depends on oil. Saudi Arabia has only two main exports: crude oil and related gas based petro-chemichals. Togather,they comprise 80% of the total annual revenue of the country. In the most recent list of top 100 universities in the world, not a single university is from an islamic country. The middle East has a growing share of the world’s population and shrinking share of its economy. Knowledge-based activity is an important measure of development. The population of Middle East is young and growing, having doubled to 300 million from 170 million in 1990. Meanwhile, its place in the world
economy has shrunk. Muslim countries have the lowest scores in the world with regard to the number of web sites and internet users, the most basic indicators in the global knowledge economy. Muslim rulers spending money on their lavish lifestyle. A recent survey also revealed that the Middle eastern countries have one of the worst scores in reading habits.
gious studies and forsaking the science has resulted in weakening the Ummah.Economic prosperity and development go handin-hand with a certain amount of individual freedom. Its about creating an environment where people can participate in deciding their economic and social futures. Its about creating opportunities for everyone to pursue their hopes and dreams. Unfortunately, in much of the Muslim world, the people generally do not have a voice in the development process which touches their lives. Muslim nowadays have been sidelined in terms of development, there is no single country can be considered ‘’ developed ‘’ .even though a lot of Muslim countries are rich. Money alone is not enough. Muslim countries have to be administratively efficient and technologically advanced. Priority should be given to education for knowledge is essential to resuscitate Muslim civilization. While religious studies can not be neglected, Must also study other subject like mathematics and science. Muslim often talk about past glory , it can give you good feeling but it can not change the reality of present world.
Apart from religious books, A large section of people do not read any knowledge-based books or articles. A large part of continued weakness of the Ummah lies in our low literacy and low educational achievements rates. This obviously contributes to the failure of the Ummah to master science and technology and make it difficult to be economically muhammad nasir competitive. The old emphasis firstname.lastname@example.org of merely concentrating on reli- 07538377423
PROPERTY CORNER THE WINDS OF CHANGE IN THE PROPERTY MARKET
by: Mohammed Mahroof BSc (Hons) MRICS Consultant: Mark Jenkinson & Son
The entire world economy seems to be in a state of re-adjustment leaving investors in a dilemma as to their investment choices. The world price of gold is almost at a record high with investors and savers seeing this as a safe investment which could be sold quickly if the situation demanded. Property is equally considered by many as a safe investment, the difference being that it can take a lot longer to sell. It is like going back in history when gold and property were the main forms of investment and wealth recognition. There is an increasing number of people who are taking the opportunity, if finances allow, to invest in property. The key word here is finance because unless you have cash funding from financial institutions can be difficult to obtain. What are property investors looking for? The answer seems to be investment properties with a strong covenant (tenant) and a long lease at a good rental. These
properties are very much sought after in the market place. Very few such investments are coming onto the market. The main reason seems to be that once you have liquidated your investment, what do you do with your money? If re-investment is your reason for sale, then returns from shares, banks etc is not so high. Therefore, many people will choose not to sell and retain their investment safe in the knowledge they have got a good return. Clearly this in turn creates a shortage of good quality properties coming onto the market, and the good old dynamics of supply and demand come in, which in turn leads to strong values. Strong values have also been seen in London, where demand for quality properties is exceeding supply. It has been reported that in some high profile areas prices have risen. I have talked about this previously but another area which we may be seeing a historical change is in the
residential sector. It has been argued by many commentators that we may see a change in tenure, with people moving away from wanting to own their property to renting, which is quite common in many parts of Europe. I believe this trend will continue and become the norm over the next decade or so as people become more flexible in terms of employment. This in turn means that demand for good quality property to rent is beginning to see a resurgence, and you see many investors with funding entering auction rooms up and down the country looking for suitable properties. The winds of change are certainly blowing in the property world, and I certainly feel we will see historic changes in how property is viewed in the next decade. I would like to wish our readers Eid Mubarak and, as ever, if you want to contact me please call me on 0114 2760151/0787 901 5095 or through ILM.
High BP Prevents Migraines? People with high blood pressure appear to be less likely to have a migraine than those with low blood pressure. Researchers tested the blood pressure of 51,353 men and women over the age of 20 in Norway. The study
found people with higher systolic blood pressure were up to 40 per cent less likely to have migraine, compared to people with healthier blood pressure rates. Higher pressure was linked to a 50 pre cent reduction in the amount of head-
ache and migraine for both men and women. The finding was not as strong, however, for people who were taking blood pressure medications, which are sometimes used to treat migraine.
Q & A: Property and Commercial Mohammed Nazir Solicitor Head of Property/Immigration, Wosskow Brown Q. I want to take a lease of a property and use it as a hot food takeaway but the property doesn’t have planning permission. What should I do? A. If the property hasn’t got planning permission then you should come to an agreement with the landlord (the property owner) that once planning permission is granted, he will be bound to give you the lease. As there is apprehension that if the planning permission is granted, the landlord is not duty bound to give you the lease, it is essential that the agreement is in place before you submit the planning permission application. Q. I am becoming a partner in a business but my name is not included on the lease, will this affect me? A. If your name is not on the lease it can be added via Assignment of Lease or your name can be added in the Partnership Agreement as a special provision that the existing partner holds the lease in trust for two partners. Q. Could you please explain what Chancel Repair Liability Search is? A. It is a search which determines whether the property is in
Chancel Repair liability area. If a property is near a church, or is on land formerly owned by some of the older universities, there may be an obligation to contribute towards repairs to the chancel of the local parish church. This was laid down in the Chancel Repairs Act 1932. Such liability is enforceable in the County Court, and can apply to properties falling within a Church of England parish which has a vicar or had a vicarage and has a church dating from the medieval period or earlier. Q. I am buying a property and my solicitor has advised that I have to take Defective Title Insurance. What is this? A. Defective Title Indemnity Insurance policies are widely used in the property industry to cover defects in the Title. These Indemnity Insurance policies are available according to the value of the property and the level of risk. Lenders use Conveyancing Indemnity Policies for residential and commercial mortgages so solicitors have done their due diligence. According to the risk they put the insurance in place to cover Unknown Restrictive Covenants, lost Title deeds, Defective Titles, Good Leaseholds, Possessory Ti-
tles etc. Q. I wish to retire as a Partner, how will this affect the lease, which I am included in ? A- The simplest way to retire as a partner is to speak to the partners directly and inform them of your intention. The partners can then agree on the way forward for example purchase of the interest of the leaving partner. It is important to be aware that if you leave the partnership, your liability continues in relation to the debts owned by the firm up to the date of your departure. A written agreement can be formally prepared, which states that you are released from you liability, but this may be at the cost of reducing the value of your interest. In connection with the lease, you are required to seek the permission of your landlord and ask whether you can assign the lease to your partners. It is often the case that a landlord would refuse to remove you as a tenant, as it is beneficial for him to have more tenants to recover rent. If this is so, the best practice is to also address in the written agreement with your partners, that they are willing to indemnify you for all the rent due after your departure.
ILM News .