Iycee Charles de Gaulle Summary One is also called default risk. creditor?A

One is also called default risk. creditor?A

One of the criticisms of credit
rating agencies is that they place too much emphasis on the past records of
individuals and organisations, who might have become ‘reformed characters’
since, or whose misfortunes in the past might have been completely out of their
control. Such people might find it difficult to get credit or unsecured loans,
even though they currently present default risks that are small. Conversely,
people with good records can obtain credit dishonestly, for example, if they
know that they are soon to be made redundant, and be granted a loan at a low
interest rate when in fact they are high risk. Although one’s credit rating is
subject to constant change, it can happen very slowly.

credit risk?The risk that a borrower
will not repay the lender, be it for criminal purposes or because of matters
out of the borrower’s hands. It can also mean the risk that a contractor will
not have its invoices paid. The credit risk is one of the factors that are
taken into account when calculating an appropriate rate of interest to apply to
a borrower, or whether to grant credit for work as opposed to insisting upon
payment in advance. Credit risk of an individual, organisation or nation can be
calculated by a credit
rating agency. Credit risk is also called default risk.

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creditor?A person or
organisation who is owed money.
In the case of bankruptcy,
creditors have a claim to a portion of the liquidated estate.

creditworthiness?A measure of
risk of default attached to an individual or organisation. High or good
creditworthiness will be associated with regular income, few debts, a good
history or repayment and absence of criminal records. Creditworthiness is
calculated by credit
rating agencies.

Criminal Law?Islamic criminal law
recognises three categories of wrongs punishable by the state: hudud (sing. hadd) crimes,
contravention of limits set by God, which lead to a prescribed and mandatory
punishment; ta’zir (chastisement) crimes, involving discretionary
punishment inflicted by the ruler; and qisas (retribution) crimes,
concerned with injuries against the person such as homicide, infliction of
wounds and battery. In cases of qisas, the victim or the victim’s next of kin
may waive retribution in exchange for financial compensation (diyah). However,
in some cases the state retains the jurisdiction to punish the offender,
despite the victim’s or kin’s acceptance of diyyah. With the exception of Saudi
Arabia and a few other countries that continue to use traditional Islamic law
in penal matters, most Muslim countries have adopted French-based criminal
codes.

Crusades?The
collective name given to repeated attempts during the 11th, 12th and 13th
centuries by mainly European Christian
armies to return the Holy Land to Christian control after conquest by the Muslims. Such missions
were enormous, expensive and time-consuming events which required the
collaboration between otherwise rival powers 
for what they saw as the common good. Two notable leaders to emerge from
the Crusades were Richard the Lionheart and Saladin on the Christian and Muslim
sides, respectively. Anti-Crusade sentiment was an important factor in the rise
of the international Sunni movement.
Muslim military heroes such as Saladin recovered some territory, but Crusader
rule did not fully end until 1291. Though the Crusades placed the Christian
Holy Lands exclusively under Christian control for a time and enriched several
Frankish lords, they did little for Christianity in the region. The relative
tolerance previously extended to Christians faded as Muslims suspected native
Christians of collaboration with the crusaders. The Crusades also damaged
inter-Christian relations. The fourth Crusade, which sacked Constantinople,
introduced a period of Latin domination and solidified the separation of
Eastern and Western Christianity. The word ‘crusade’ still has political
resonance today and is sometimes seen as synonymous with a perception that
Europeans or The West in general
are still trying to conquer the Middle East, be it
militarily, economically or culturally, and this perception, whether it is
based on truth or not, is often used to make a political point, and is best
avoided in political discourse.