Morocco Experience in Islamic Finance between the Failure of the Past and the Promising Future
Opening of Islamic banks have been increasing considerably in recent years in many countries. Morocco is among these countries and will get the agreements to open in early 2016. This following work is done in the preparation phase of the launch and its importance lies in the fact that it comes after a first failure experienced in 2007 and that Morocco is among the last Muslim countries that will integrate this type of finance into their financial system. This article will focus on the first introduction by highlighting the various obstacles that were the reason for its failure, and will underline what the new banking law has done to overcome the problems encountered before. In the end, we will address two major issues, why the system failed in 2007 and why it is more likely to succeed in 2016.
La finance islamique : Un nouveau pas vers une finance éthique ?
Cet article a pour objectif de presenter les principes d’une finance dite islamique afin d’essayer de voir en quoi celle-ci peut participer a rendre plus ethique la finance classique occidentale. Apres en avoir presente les principes, l’auteure montre dans quelle mesure ceux-ci peuvent apporter des elements positifs au capitalisme ; dans le meme temps, cet article met en exergue les limites de cette acception de la finance. En effet, si la finance halal permet certainement d’introduire une dimension ethique importante dans les dynamiques financieres, elle n’en n’est pas pour autant exempte de defauts et de limites notamment, mais pas seulement, en termes d’egalite hommes-femmes ou d’ingerence dans les entreprises. Cet article rappelle aussi les reticences de la France a ouvrir ses portes a ce type de finance.
STUDIES ON TERRESTRIAL CONTAMINANTS OF METEORITES
During t h e l a s t ha l f d e c a d e a n unpara l le led upsu rge h a s t aken p l ace in t h e s tudy of meteor i tes , e s p e c i a l l y t h e ca rbonaceous chondr i tes . S c i e n t i s t s from all ove r t h e world, employing t h e newes t a n d most s e n s i t i v e an a1 y t i c a l t ec hni q u e s , i n v e s t i g a t e t h e ch e m i c a l composition of t h e o rgan ic mate t ia l found in t h e s e meteor i tes . In t h i s way they a r e trying to de te rmine t h e phys ica l c o n s t a n t s of t h e meteor i tes and e s t a b l i s h , on t h e b a s i s of minera logica l and petrolog ica l s t u d i e s , t h e cha rac t e r i s t i c s of t h e environmental condi t ions f r o m which t h e s e s t o n e s or ig ina ted and to desc r ibe and ident i fy cer ta in mic ros t ruc tu res which abound in s o m e of t h e s e ca rbonaceous chondr i tes . A l l of t h e s e research i n t e r e s t s a r e d i rec ted towards o n e pa r t i cu la r problem, t h e def in i te so lu t ion of which may indeed have revolutionary e f f e c t s o n ou r c o n c e p t s of t he universe. T h e ques t ion is whether or not t h e s e meteor i tes conta in t r a c e s of ex t ra t e r r e s t r i a l l i fe , t hus proving tha t some kind of biota eve r e x i s t e d o ther t han on t h e ear th , o r if a l l of t h o s e f ea tu res tha t t end to subs t a n t i a t e t h e prev ious ly mentioned h y p o t h e s i s a r e only t h e r e s u l t of contaminat ion by te r res t r ia l matter. T h e impor tance of t h i s problem w a s emphas ized by Berna l (1961: 130) in t h e following way: “ T h e v i t a l ques t ion cou ld be s e t t l e d o n c e and for a l l if s p e c i f i c molecu le s s u c h a s porphyrins o r nuc leo t ides were found. A counter ind ica t ion a t t he moment is t h e extremely low phosphorous conten t of t h e meteorite.” S ince tha t s t a t emen t w a s made, porphyrins (Hodgson & Baker, 1964) a n d poss i b l y nuc leo t ides (Nagy et al., 1963a) have been ident i f ied f r o m t h e Orgueil meteor i te , but s t i l l t he q u e s t i o n of t h e e x i s t e n c e of extrat e r r e s t r i a l life is far from be ing proven. I t is clear from the a b o v e tha t o n e of t h e b a s i c problems tha t o n e faces in t h e s tudy of meteor i tes is tha t of contamination. In order t o e s t a b l i s h unques t ionably t h e e x i s t e n c e o r p a s t e x i s t e n c e of ex t ra te r res t r ia l l i f e through t h e s t u d i e s of meteor i tes , two primary q u e s t i o n s h a v e to b e dea l t with s imul taneous ly . O n e h a s to d e c i d e