Information World: UBL launch 'Ameen Auto Ijarah'
Information World: UBL launch 'Ameen Auto Ijarah': KARACHI - The launch of UBL ‘Ameen Auto Ijarah’ has introduced a flexible auto financing product plan that w...
Takaful- Islamic insurance, Oppurtunity unlimited
Originated from the Arabic word Kafalah, which means "guaranteeing each other" or "joint guarantee". Takaful originated within the ancient Arab tribes as a pooled liability that obliged those who committed offences against members of a different tribe to pay compensation to the victims or their heirs.
Takaful is founded on the cooperative principle and on the principle of separation between the funds and operations of shareholders, thus passing the ownership of the Takaful (Insurance) fund and operations to the policyholders
In modern-day conventional insurance, the insurance vendor (the insurance company) sells policies and invests the proceeds for the profit of its shareholders, who are not necessarily policyholders. There is therefore a clear disjunction between policyholders and shareholders
Principles of Takaful
- Policyholders co-operate among themselves for their common good.
- Every policyholder pays a part of the contribution as a donation to help those that need assistance.
- Losses are divided and liabilities spread according to the community pooling system.
- Uncertainty is eliminated in respect of subscription and compensation.
- It does not seek to derive advantage at the cost of others.
Difference between conventional insurance & Takaful
- Conventional insurance involves the elements of excessive uncertainty (gharar) in the contract of insurance;
- Gambling (maysir) as the consequences of the presence of excessive uncertainty that rely on future outcomes
- Interest (riba) in the investment activities of the conventional insurance companies;
- Conventional insurance companies are motivated by the desire for profit for the shareholders;
Mode of Operation
The policyholders agree to guarantee each other and, instead of paying premiums, they make contributions to a mutual fund or pool & create the Takaful fund. The amount of contribution that each participant makes is based on the type of cover they require, and on their personal circumstances. As in conventional insurance, the policy (Takaful Contract) specifies the nature of the risk and period of cover.
The Takaful fund is managed and administered on behalf of the participants by a Takaful Operator who charges an agreed fee to cover costs. These costs include the costs of sales and marketing, underwriting, and claims management. Any claims made by participants are paid out of the Takaful fund and any remaining surpluses, after making provisions for likely cost of future claims and other reserves, belong to the participants in the fund, and not the Takaful Operator, and may be distributed to the participants in the form of cash dividends or distributions, alternatively in reduction in future contributions
Retakaful or Reinsurance
When insurers insure a risk again with another company, it is called reinsurance which allows the insurance industry to spread its losses, lessening the impact of claims on any one company.
There is currently a shortage of retakaful capacity and the lack of companies in the market presents a challenge as well as an opportunity. The challenge is to have a large enough Takaful market to justify ReTakaful business. There is also a global need for strong and credible retakaful operators to assist the growth and expansion of takaful business
There is currently a shortage of retakaful capacity and the lack of companies in the market presents a challenge as well as an opportunity. The challenge is to have a large enough Takaful market to justify ReTakaful business. There is also a global need for strong and credible retakaful operators to assist the growth and expansion of takaful business
Growth Prospects
As Islamic finance continues to expand, there is likely to be a huge takeoff of other products such as pensions, education, marriage and health Takaful plans. There is also a huge scope for mortgage Takaful.Islamic principles strong emphasis in Takaful on the economic, ethical, moral and social dimensions, to enhance equality and fairness for the good of society as a whole should also have appeal for the ethically minded.
E-banking (Online Banking) and its role in today's society
The world is changing at a staggering rate and technology is considered to be the key driver for these changes around us (Papers4you.com, 2006). An analysis of technology and its uses show that it has permeated in almost every aspect of our life. According to Tero et al (2004) many activities are handled electronically due the acceptance of information technology at home as well as at workplace. Internet can be seen as a truly global phenomenon that has made time and distance irrelevant to many transactions. According to Heikki et al. (2002), the transformation from the traditional banking towards e-banking has been a ‘leap' change.
The evolution of electronic banking started from the use of automatic teller machines (ATM) and has passed through telephone banking, direct bill payment, electronic fund transfer and the revolutionary online banking (Alter, 2002). The future of electronic banking according to some is the acceptance of WAP enabled banking and interactive-TV banking (Petrus & Nelson, 2006). But it has been forecasted that among all the categories, online banking is the future of electronic financial transactions. The rise in the e-commerce and the use of internet in its facilitation along with the enhanced online security of transactions and sensitive information has been the core reasons for the penetration of online banking in everyday life (Papers4you.com, 2006). According to the latest official figures from the Office of National Statistics (ONS, 2006) indicate that subscriptions to the internet has grown more than 50% from 15 million in 2000 to 35 million in 2005 in the UK. It has also been estimated that 60% of the population in the UK use internet in their daily lives.
The fundamental shift towards the involvement of the customer in the financial service provision with the help of technology especially internet has helped in reduce costs of financial institutions as well as helped client to use the service at anytime and from virtually anywhere with access to an internet connection. According to theorists (Walfried et al., 2005) customer evaluation of the electronic services is influenced by attributions of success and failure in inter personal service situations. The use of electronic banking has removed the banking personnel that facilitate the transactions and has placed additional responsibilities on the customers to transact with the service. Although the use of E-banking is provided for the benefit of the customers but these changes require increased work or involvement on the part of customers. These and other factors might be seen as lesser service provided in terms of customer service. But these assumptions would be wrong if the customer knows the value of using the electronic service.
Thus it can be concluded that a fit between task i.e. the banking; technology i.e. the user interface and its reliability; and individuals i.e. the customers and their knowledge about using the service, is the key to successful E-banking services (Zigurs & Buckland, 1998).
Automobile Insurance Questions and Answers
How is automobile insurance not extortion?
If I got into a coup¨¦ accident and it was MY blemish....I would want the person I hit to be taken care of. It's individual fair that they get their coup¨¦ fixed and their medical bills paid...they didn't do anything wrong! If it was NOT my error, I would want the person...
How long does it cart to collect insurance money after an automobile calamity?
A woman was driving in front of m and established to make an illegal u-turn and merely slammed on her brakes, not knowing I was behind her. I hit her and my coup¨¦ is pretty much totaled. Does anyone know how long it would take to collect insurance...
How long does it pocket an insurance company to issue an automobile insurance policy after unloading deposit?
I've been with duplicate company almost five years. My car insurance is renewed every six months, after I make the required renewal deposit. Like clockwork, I receive the contemporary payment coupons, and temporary insurance card. However, I don't attain the permanent insurance card and...
How lots years does an coincidence remain on the store beside an automobile insurance agency?
Usually auto insurance companies will solely look back 3-5 years depending on which state you live in. After 5 years your happenstance shouldn't affect your rates any longer. Source(s): http://savetodaycarinsurance.com/ Forever. If you're asking how long the insurance company will consider...
How much automobile liability insurance is ample - $1 or $2 millions?
My insurance has "strongly recommend" that I should increase my automile liability insurance from $1 million to $2 million, although I have not involved within any accidents. I wonder if that is because of the possible increase of calamity compensation these days. Do you...
How much do you income respectively month for automobile INSURANCE?
Nothing I don't even hold a car. I repay 86 bucks per month through Erie Insurance for my 2000 Dodge Intrepid. I have full coverage. 2 speeding tickets in the second 3 yrs. Blah. $114.00 through Geico for a 07 Ford Taurus. Source(s): Seattle is outrageous...
How much is Budget's "Mexican Automobile Liability Insurance"?
im renting soon and i need to go to mexico, budget offer this type of insurance but im quite scared to ask... i newly need to go by the border.. what will arise if i dont get the insurance and actually drive to mexico?? im worried,, but im really daring lol. thanks Your...
How much money should I ask for from the Insurance company for a settlement from an automobile chance ?
I was in an automobile luck in November 2006 which I was not at show disapproval.I was hit head on by a driver running a stop sign.The subsequent day I went to the Emergency room for shoulder misery.It was believed that I...
How much should I ask for contained by a settlement from the Insurance company from an automobile twist of fate ?
I was in an automobile stroke of luck in November 2006 which I was not at imperfection.I was hit head on by a driver running a stop sign.The subsequent day I went to the Emergency room for shoulder niggle.It was...
How to insist on using untried parts for automobile insurance repair within California?
You don't say what year your car is, but used parts may not be the simply option, there may be aftermarket exotic parts available. The bottom line, is, unless your car is strange, it is pretty hard to justify putting bright parts in to replace damaged...
I am trying to run this individual to court for totaling out my van within an automobile wreck, he have no insurance.?
I want to put a judgment against him for my losses, such as 401k, real estate, wages, income rates, liens etc.. So what do I file this under within court? I need directions, help. First you sue contained by...
I obligation a Virginia legal representative to work on an automobile insurance claim satchel where on earth I be never summons to court?
If anyone can help me or knows who I should contact, please contact me asap. I own to return to court on January 4th and need a lawyer prior to next. Thanks in advance! Thank you for...
If an automobile stroke of luck is my reproach, can I still present a claim against the other person's insurance?
I recently backed into a sizeable truck with my little Dodge Omni. The damage to the truck be merely a cracked tail-light, but my tail-light was completely shattered and back driver's side corner of my motor was dented in really disappointingly....
If an insurance company denies your claim for an automobile misfortune how can you expand a investigational claim?
My boyfriend and I was making a left turn on a green arrow restrained and a car from the opposite direction hit us while attempting to put together a right turn on red. There was no tickets given. We were hit on our...
If I dont wage an automobile insurance donation will it affect getting insurance contained by the adjectives?
Im not sure why I owe this insurance company $75, but I blew it off since they didnt notify me until my policy had concluded. Now Im recieving letters from a lawyer attempting to collect. I apprehend if I dont pay it that it...
If I enjoy full coverage insurance on my automobiles?
If I have an accident while my driver's license is suspensed will my insurance company salary. No. Yes, unless your policy specifically excludes it. But they will drop your coverage at the next renewal. If you hold an accident while driving with a suspended license, you'll probably turn to jail...
If the dammage to my automobile is not my error, why won't my insurance company walk after whom is liable?
While the rear left brake axle be being repaired, the front left door hinge become loose. The repair guy forced the door open and left a considerable dent in my front left quarter pannel. I can in a minute...
If you borrow someone's sports car, whose automobile insurance covers the vehicle, theirs or yours?
Insurance always follows the vehicle not the driver. His insurance would be responsible regardless of state. I THINK IF YOUR DRIVING SOMEONE ELSE'S CAR YOUR STILL THE ONE HELP RESPONSIBLE IF ANYTHING GOES WRONG. The coverage is on the vehicle so it is the...
If you own an automobile within NH, do you involve to own liability insurance?
I was hit by a driver from NH who claimed that New Hampshire does not require liability insurance. All states require insurance...liability at a minimum. there are provisions where on earth if a person is wealthy ample they can do what is knowsn as slef insured...but...
In america, why do we enjoy insurance system ? for example for Healthcare and Automobile.?
For some reason, I dont see any logic in USA's insurance system. For example customer A have automobile insurance, first of all insurance company bargain the hell out of the customer and doesnt cover this doesnt cover that..what not..over it - if the customer meets with...
In the current financial crisis, enjoy credit evasion swaps acted more resembling automobile insurance or hurricane i?
Hurricane insurance. The issue here is independence of events. If you already know what this means skip to the finishing paragraph. Hurricane insurance is very dangerous for the insurer because claims adjectives come at the same time so the insurer is likely to...
In the state of california, what coverage precincts would i necessitate to attain for full coverage (automobile insurance)?
"Full Coverage" means different things to different people, which is why my organization and I avoid using this term. What most people consider full coverage consist of these coverages; Liability Medical Payments Comprehensive (aka Other than Collision) Collision Rental Car Towing...
In your evaluation, who have the cheapest automobile insurance?
Well of all the places I got quotes from Allstate be the cheapest for the best coverage. Picking insurance is important because you have to sort sure you're not underinsured. The state minimum is usually underinusured meaning that if you're in an at mistake accident your insurance will only take-home...
Insurance law for automobiles contained by the state of ohio?
insurance laws if ivoved ia a accident and you be not cited and they totoled the car It is dependent on if there are other vehicles involved...be thay cited...what kind of insurance coverage do you have? Just keep hold of in mind you are always liable for anything your coup¨¦...
Involved surrounded by Automobile Accident other driver have no insurance?
I was involved in a wreck ending friday where a trailer came unhitched from the other people vehicle and hit my vehicle. My vehicle in totaled now and come to find out the other personality has no insurance. What is my best course of action? If you can--file it on...
Is at hand a consumer fan for automobile extended warranty insurance?I focus I be ripped sour.?
I am stranded 367 miles from home.My car engine failed next to 92,000miles on it . The extended warranty insurance was SUPPOSED to cover the car to 108,000 miles but they denied my claim.I'm out $1500 for the policy,and am looking at,at least possible...
Is automobile insurance available for US citizens driving a borrowed saloon contained by Germany?
Does any international auto insurance from the USA cover injury, accidents and damage within Europe if you are using a European friend's car? Is it worth it? Certain accident benefits for injuries you suffer as a result of an luck may be worldwide coverage (check your policy),...
Is automobile insurance valid if....?
Indiana recently had several counties underneath a level 2 snow emergency, which allows travel by emergency and other essential personnel only. If I be in an accident within that county, would my automobile insurance be valid even though I was violating the emergency command by driving? it should be valid, but that doesn't aim...
Is in that an insurance company surrounded by california where on earth I can bring GAP insurance for an automobile loan?
A phone number or a website would be great. a true "gap" insurance should be obtained from the finance company for your vehicle, but some companies submission a similar coverage that may cover over a vehicle's actual cash value contained...
Is in that title insurance for automobile purchases?
When you buy a house, it is a good idea to procure title insurance in case near are any undivulged debts or liens on the property. When these are discovered the insurance is used to pay off the liabilty. In skin an auto has some outstanding debts or liens, it would...
If I got into a coup¨¦ accident and it was MY blemish....I would want the person I hit to be taken care of. It's individual fair that they get their coup¨¦ fixed and their medical bills paid...they didn't do anything wrong! If it was NOT my error, I would want the person...
How long does it cart to collect insurance money after an automobile calamity?
A woman was driving in front of m and established to make an illegal u-turn and merely slammed on her brakes, not knowing I was behind her. I hit her and my coup¨¦ is pretty much totaled. Does anyone know how long it would take to collect insurance...
How long does it pocket an insurance company to issue an automobile insurance policy after unloading deposit?
I've been with duplicate company almost five years. My car insurance is renewed every six months, after I make the required renewal deposit. Like clockwork, I receive the contemporary payment coupons, and temporary insurance card. However, I don't attain the permanent insurance card and...
How lots years does an coincidence remain on the store beside an automobile insurance agency?
Usually auto insurance companies will solely look back 3-5 years depending on which state you live in. After 5 years your happenstance shouldn't affect your rates any longer. Source(s): http://savetodaycarinsurance.com/ Forever. If you're asking how long the insurance company will consider...
How much automobile liability insurance is ample - $1 or $2 millions?
My insurance has "strongly recommend" that I should increase my automile liability insurance from $1 million to $2 million, although I have not involved within any accidents. I wonder if that is because of the possible increase of calamity compensation these days. Do you...
How much do you income respectively month for automobile INSURANCE?
Nothing I don't even hold a car. I repay 86 bucks per month through Erie Insurance for my 2000 Dodge Intrepid. I have full coverage. 2 speeding tickets in the second 3 yrs. Blah. $114.00 through Geico for a 07 Ford Taurus. Source(s): Seattle is outrageous...
How much is Budget's "Mexican Automobile Liability Insurance"?
im renting soon and i need to go to mexico, budget offer this type of insurance but im quite scared to ask... i newly need to go by the border.. what will arise if i dont get the insurance and actually drive to mexico?? im worried,, but im really daring lol. thanks Your...
How much money should I ask for from the Insurance company for a settlement from an automobile chance ?
I was in an automobile luck in November 2006 which I was not at show disapproval.I was hit head on by a driver running a stop sign.The subsequent day I went to the Emergency room for shoulder misery.It was believed that I...
How much should I ask for contained by a settlement from the Insurance company from an automobile twist of fate ?
I was in an automobile stroke of luck in November 2006 which I was not at imperfection.I was hit head on by a driver running a stop sign.The subsequent day I went to the Emergency room for shoulder niggle.It was...
How to insist on using untried parts for automobile insurance repair within California?
You don't say what year your car is, but used parts may not be the simply option, there may be aftermarket exotic parts available. The bottom line, is, unless your car is strange, it is pretty hard to justify putting bright parts in to replace damaged...
I am trying to run this individual to court for totaling out my van within an automobile wreck, he have no insurance.?
I want to put a judgment against him for my losses, such as 401k, real estate, wages, income rates, liens etc.. So what do I file this under within court? I need directions, help. First you sue contained by...
I obligation a Virginia legal representative to work on an automobile insurance claim satchel where on earth I be never summons to court?
If anyone can help me or knows who I should contact, please contact me asap. I own to return to court on January 4th and need a lawyer prior to next. Thanks in advance! Thank you for...
If an automobile stroke of luck is my reproach, can I still present a claim against the other person's insurance?
I recently backed into a sizeable truck with my little Dodge Omni. The damage to the truck be merely a cracked tail-light, but my tail-light was completely shattered and back driver's side corner of my motor was dented in really disappointingly....
If an insurance company denies your claim for an automobile misfortune how can you expand a investigational claim?
My boyfriend and I was making a left turn on a green arrow restrained and a car from the opposite direction hit us while attempting to put together a right turn on red. There was no tickets given. We were hit on our...
If I dont wage an automobile insurance donation will it affect getting insurance contained by the adjectives?
Im not sure why I owe this insurance company $75, but I blew it off since they didnt notify me until my policy had concluded. Now Im recieving letters from a lawyer attempting to collect. I apprehend if I dont pay it that it...
If I enjoy full coverage insurance on my automobiles?
If I have an accident while my driver's license is suspensed will my insurance company salary. No. Yes, unless your policy specifically excludes it. But they will drop your coverage at the next renewal. If you hold an accident while driving with a suspended license, you'll probably turn to jail...
If the dammage to my automobile is not my error, why won't my insurance company walk after whom is liable?
While the rear left brake axle be being repaired, the front left door hinge become loose. The repair guy forced the door open and left a considerable dent in my front left quarter pannel. I can in a minute...
If you borrow someone's sports car, whose automobile insurance covers the vehicle, theirs or yours?
Insurance always follows the vehicle not the driver. His insurance would be responsible regardless of state. I THINK IF YOUR DRIVING SOMEONE ELSE'S CAR YOUR STILL THE ONE HELP RESPONSIBLE IF ANYTHING GOES WRONG. The coverage is on the vehicle so it is the...
If you own an automobile within NH, do you involve to own liability insurance?
I was hit by a driver from NH who claimed that New Hampshire does not require liability insurance. All states require insurance...liability at a minimum. there are provisions where on earth if a person is wealthy ample they can do what is knowsn as slef insured...but...
In america, why do we enjoy insurance system ? for example for Healthcare and Automobile.?
For some reason, I dont see any logic in USA's insurance system. For example customer A have automobile insurance, first of all insurance company bargain the hell out of the customer and doesnt cover this doesnt cover that..what not..over it - if the customer meets with...
In the current financial crisis, enjoy credit evasion swaps acted more resembling automobile insurance or hurricane i?
Hurricane insurance. The issue here is independence of events. If you already know what this means skip to the finishing paragraph. Hurricane insurance is very dangerous for the insurer because claims adjectives come at the same time so the insurer is likely to...
In the state of california, what coverage precincts would i necessitate to attain for full coverage (automobile insurance)?
"Full Coverage" means different things to different people, which is why my organization and I avoid using this term. What most people consider full coverage consist of these coverages; Liability Medical Payments Comprehensive (aka Other than Collision) Collision Rental Car Towing...
In your evaluation, who have the cheapest automobile insurance?
Well of all the places I got quotes from Allstate be the cheapest for the best coverage. Picking insurance is important because you have to sort sure you're not underinsured. The state minimum is usually underinusured meaning that if you're in an at mistake accident your insurance will only take-home...
Insurance law for automobiles contained by the state of ohio?
insurance laws if ivoved ia a accident and you be not cited and they totoled the car It is dependent on if there are other vehicles involved...be thay cited...what kind of insurance coverage do you have? Just keep hold of in mind you are always liable for anything your coup¨¦...
Involved surrounded by Automobile Accident other driver have no insurance?
I was involved in a wreck ending friday where a trailer came unhitched from the other people vehicle and hit my vehicle. My vehicle in totaled now and come to find out the other personality has no insurance. What is my best course of action? If you can--file it on...
Is at hand a consumer fan for automobile extended warranty insurance?I focus I be ripped sour.?
I am stranded 367 miles from home.My car engine failed next to 92,000miles on it . The extended warranty insurance was SUPPOSED to cover the car to 108,000 miles but they denied my claim.I'm out $1500 for the policy,and am looking at,at least possible...
Is automobile insurance available for US citizens driving a borrowed saloon contained by Germany?
Does any international auto insurance from the USA cover injury, accidents and damage within Europe if you are using a European friend's car? Is it worth it? Certain accident benefits for injuries you suffer as a result of an luck may be worldwide coverage (check your policy),...
Is automobile insurance valid if....?
Indiana recently had several counties underneath a level 2 snow emergency, which allows travel by emergency and other essential personnel only. If I be in an accident within that county, would my automobile insurance be valid even though I was violating the emergency command by driving? it should be valid, but that doesn't aim...
Is in that an insurance company surrounded by california where on earth I can bring GAP insurance for an automobile loan?
A phone number or a website would be great. a true "gap" insurance should be obtained from the finance company for your vehicle, but some companies submission a similar coverage that may cover over a vehicle's actual cash value contained...
Is in that title insurance for automobile purchases?
When you buy a house, it is a good idea to procure title insurance in case near are any undivulged debts or liens on the property. When these are discovered the insurance is used to pay off the liabilty. In skin an auto has some outstanding debts or liens, it would...
Takaful and the Principles of Shariah-compliant Financial Services
The term “Takaful” is derived from the Arabic word “Kafaala” meaning guaranteeing. Takaful means “guaranteeing each other" and refers to the concept of permissible Islamic insurance or “Halal” insurance.
Takaful is based on the principles of “Ta’awun” (mutual cooperation) and “Tabaru’a” (Donation) whereby a group of people (Takaful participants or policyholders) agree between themselves to share the risk of a potential loss to any of them by making a donation, of all or part of their contribution, which is used to compensate the loss suffered by any participant of the Takaful scheme.
Unlike conventional insurance in which risk is shifted from the policyholder to the insurance company, Takaful is a structure in which risk is shared between all the policyholders.
The term Islamic finance refers to financial and commercial activities and transactions that conform to “Shariah” (Islamic law). Whilst the terms Islamic finance, interest-free banking, Shariah finance, Shariah banking, Shariah insurance, Islamic banking, and Islamic insurance are relatively new, the underlying principles of Islamic finance date back to the times of the Holy Prophet Muhammad (PBUH). The trading practices of Muslims were based upon these principles until the days of the Ottoman Empire.
Islamic finance principles have been derived from the Holy “Qur’an” (the Holy book of the Muslims), “Hadith” (the sayings of the Holy Prophet Muhammad, PBUH), “Sunnah” (the way the Holy Prophet Muhammad led His life) and centuries of scholarly interpretations of these three sources. These rules define clearly what is “Halal” (permissible) and what is “Haram” (prohibited) in a financial transaction. The salient points of these rules are:
Shariah prohibits the following:
'Riba' - interest/usury
'Maysir' or 'Qimar' - gambling/speculation
'Gharar' - uncertainty
Exploitation
Unfairness
Undertaking Haram activities (alcohol, pork, pornography etc)
Shariah requires:
Risk sharing
Reward sharing
Fairness
Transparency
Sanctity of contracts
Islamic finance places strong emphasis on the economical, ethical, moral, social, and religious dimensions, to enhance equality and fairness for the good of society as a whole, whereas the conventional financial system focuses primarily on the economic and financial aspects of transactions.
There are many Shariah compliant modes of finance which are used to develop Halal financial products. These include “Takaful” (insurance), “Musharaka” (partnership), “Mudaraba” (silent partnership), “Murabaha” (special type of sale), “Ijara” (lease), “Wakala” (agency), “Salam” (forward sale), “Istisna’a” (manufacturing or construction contract) and Qard (a loan - without any benefits)
Takaful is based on the principles of “Ta’awun” (mutual cooperation) and “Tabaru’a” (Donation) whereby a group of people (Takaful participants or policyholders) agree between themselves to share the risk of a potential loss to any of them by making a donation, of all or part of their contribution, which is used to compensate the loss suffered by any participant of the Takaful scheme.
Unlike conventional insurance in which risk is shifted from the policyholder to the insurance company, Takaful is a structure in which risk is shared between all the policyholders.
The term Islamic finance refers to financial and commercial activities and transactions that conform to “Shariah” (Islamic law). Whilst the terms Islamic finance, interest-free banking, Shariah finance, Shariah banking, Shariah insurance, Islamic banking, and Islamic insurance are relatively new, the underlying principles of Islamic finance date back to the times of the Holy Prophet Muhammad (PBUH). The trading practices of Muslims were based upon these principles until the days of the Ottoman Empire.
Islamic finance principles have been derived from the Holy “Qur’an” (the Holy book of the Muslims), “Hadith” (the sayings of the Holy Prophet Muhammad, PBUH), “Sunnah” (the way the Holy Prophet Muhammad led His life) and centuries of scholarly interpretations of these three sources. These rules define clearly what is “Halal” (permissible) and what is “Haram” (prohibited) in a financial transaction. The salient points of these rules are:
Shariah prohibits the following:
Islamic finance places strong emphasis on the economical, ethical, moral, social, and religious dimensions, to enhance equality and fairness for the good of society as a whole, whereas the conventional financial system focuses primarily on the economic and financial aspects of transactions.
There are many Shariah compliant modes of finance which are used to develop Halal financial products. These include “Takaful” (insurance), “Musharaka” (partnership), “Mudaraba” (silent partnership), “Murabaha” (special type of sale), “Ijara” (lease), “Wakala” (agency), “Salam” (forward sale), “Istisna’a” (manufacturing or construction contract) and Qard (a loan - without any benefits)
Understand the dangerous risks inherent in insurance
There are a number of very important concepts that you must understand when purchasing insurance. If these aspects of insurance are ignored, YOU will not simply be wasting your money; you will be exposing yourself to even greater risk.
First and foremost, the greatest danger by far is not taking out any insurance at all.
The rule of thumb is that if you can easily afford to replace an item of property, then insurance is unnecessary. It is however where the cost of replacing a property item such as a motor vehicle is massive, that insurance becomes critical for most consumers.
Insurance is primarily a risk sharing contractual relationship between the insurer and the insured. The insurance relationship assumes that the contractual partners manage the risk by taking all reasonable precautions to protect the insured property against loss.
For example, if you don't keep your motor vehicle in good repair, such as having worn tires, the insurer will be entitled to refute a claim on the basis that you contributed to the loss in the event of a car accident. Another example would be having an accident while driving under the influence of alcohol or drugs.
The next problem is when consumers do not insure their property adequately and end up being under-insured.
The danger here is that at claim time when the value that is insured is less than the value of the loss experienced. Should you be found to be under-insured, the insurer will apply a formula that will reduce the amount paid out in the case of a claim by the percentage that you are under insured.
There are many ways to save money on insurance premiums without cutting corners. The few cents you save today could cost you thousands of Rands in the future.
Another aspect of your insurance policy is the amount of risk you carry in terms of the excess payable in the event of a claim. The greater the excess, the more risk you carry.
Another common problem is not checking that your policy premium has been paid. The fact that the debit did not go through at the end of the month on your bank account, because of some unrelated reason, is not the problem of the insurer, it is YOUR problem. Although a short grace period is normal, most policies will lapse after this grace period and insurers will decline to pay claims filed after this.
Another issue is the time frame you have in which to file claims. Most insurance policies insist that claims are filed very soon after an accident or loss, at least within a month. For example, in some cases such as with insurance on heavy haulage trucks, the claim has to be filed within 24-48 hours. This is so that the insurer can attempt to minimize the loss by instituting own recovery processes and deploying recovery experts.
A neglected aspect is the fact that most insurance claims require that you report a loss in the event of criminal acts to the police. Without a police report, most insurers will not pay out.
And talking of criminal acts, don't dare make the mistake of lodging a fraudulent claim, you will be found out.
Insurers are very experienced in investigating insurance claims and sifting out the legitimate from the fraud. Not only will you end up with a criminal record, your ability to purchase insurance in future will be severely restricted if not impossible.
Don't make the mistake of not understanding the terms of your policy. Although, you should insist on the terms and conditions being explained to you, the insurer has no further obligation in this regard. And you must understand the policy before signing on the dotted line.
Incredibly important here are terms that people often overlook. An example is when the policy requires a burglar alarm in working order and switched on. Neglecting these conditions would make for an extremely unpleasant surprise in the event of an insurance claim. Make sure that you comply with all the conditions of your insurance policy.
A regular review of your insurance is essential. This is very important if you are making changes to your lifestyle such as buying a new home, moving home, changing careers or getting divorced.
Couples staying together will need to make sure their joint assets are properly insured.
Ask in whose name the insurance policy has been issued? Whether people are cohabiting or sharing a house, it is important that the policy is issued in the joint names of the partners, or at least that the interest of the partners is acknowledged on the policy document. This must not be confused with the standard contract wordings whereby most family members are included on the insured's policy, because this assumes a marriage contract or a civil union.
When it comes to the issue of under insurance a partner's additional contents in the household will obviously increase the joint value of the assets significantly. The sums insured on the policy must be adjusted to avoid reducing claims payments due to under insurance.
Consider the question of 'insurable interest'. This may have implications in the event of an insurance claim, even if the level of cover is adequate. Establish and agree on the extent of the insurance company's liability.
Consumers should take cognizance of any possible increase in risk created by the arrival of additional household contents; examples include expensive jewellery, firearms, or artworks.
Many of the above issues and more may be affected by the principles of disclosure. It is the duty of the insured to disclose material information to the insurance underwriter to allow the risk to be assessed correctly.
"While insurers are generally relaxed in issuing policies in joint names, it remains the duty of the client to disclose this change in the risk profile, and to ensure cover is increased adequately.
Many of the above problems could be avoided if full honest disclosure is made from the beginning.
Many negative perceptions about insurance stem from disappointments at claim stage, because consumers were less than candid about their insurance requirements with their broker.
Sure there are instances where brokers and insurers can be held liable for not acting professionally and fairly, and we are lucky to have consumer protection institutions in South Africa such as the FAIS and Short Term Ombudsmen, but non-disclosure of material facts that could influence the purchase of the insurance product are the main reason why insurers do refute claims.
Not insured, or not sure if you are insured correctly? Then get an insurance quote now.
Dust Kills Cleaning the Unit Fan is Essential Computer Care
Between taking care of the household, the kids, the pets, and the district PTA, computer care is probably one of the last things that you think of doing on a regular basis. Without a regular maintenance schedule however, you could find out (the hard way) that a neglected computer is an energy hog - one that works harder than it needs to and one that could be a financial burden to replace.
Let's talk about maintaining hardware. So much emphasis is put on maintaining a computer's operating system that we sometimes forget how important it is to maintain a computer's hardware components. Since there can be quite a few components to take care of, let's talk about the most important one.
The most important component of a computer's hardware system is its fan. The fan is located on the computer's CPU unit and when that thing gets clogged with dirt and dust, it can run down a computer faster than you can say, "Something's wrong with my computer and I don't know what it is!" In short, the fan is responsible for keeping a computer's motor cool and this motor is what keeps the computer's hard drive and peripherals functioning the way you need them to, which translates to "fast."
A dirty fan doesn't rotate fast enough to keep that motor cool and a completely clogged fan just stops rotating altogether. This causes the computer's motor to work harder - and a harder working motor can raise the electric bill! Worst case scenario: the motor can overheat and stop working as well. No motor equals no computer.
Keep your computer's fan clean by preventing the fan from getting dirty or dusty in the first place. Use the computer in a dust-free environment and never smoke around it. Nicotine and tar mean certain death when it comes to computer fans, however should you find a need to clean the fan, do so with extreme care.
It's quite easy to cause more damage from cleaning so if you're not comfortable with cleaning your PC yourself, take it to a shop for servicing. Otherwise, you can unplug and disassemble the computer to do it yourself.
You'll need a can of compressed air and an anti-static rag to remove stubborn clumps of dust. Hold the can perfectly vertical and spray the fan being careful not to spray the dust off the fan onto other sensitive parts of the computer like circuit boards or inside the motor casing. Wipe up remaining dust with your anti-static rag and then reassemble the computer.
One thing that you certainly don't want to use to remove computer dust is a vacuum cleaner. Although using a vacuum cleaner seems to make more sense, the strong suction of a vacuum cleaner can actually spark damaging static electricity or dislodge loose cables. You also don't want to use oil-based cleaners. Although Pledge may dust your wooden tables and cabinets to a perfect shine, the oil inside a cleaner like this will erode sensitive computer parts. Stick to a liquid-free dusting method and your dusting routine will be safe enough to repeat as often as you need.
As previously mentioned, preventing dust from entering the computer is extremely important and will reduce the need to open and dust your system in the first place. The severity of outside elements (smoking, humidity, pets, etc.) will ultimately determine how often you'll need to de-dust your machine. But as an average, you shouldn't need to perform this procedure any more than once or twice a year.
The entire exercise should take no more than twenty minutes tops and once complete, you'll immediately see and hear the difference in your machine. The computer's keyboard and mouse will run more smoothly, hardware won't take as long to connect, and the entire machine won't be as loud as one that's corroded with ugly dust bunnies.
Let's talk about maintaining hardware. So much emphasis is put on maintaining a computer's operating system that we sometimes forget how important it is to maintain a computer's hardware components. Since there can be quite a few components to take care of, let's talk about the most important one.
The most important component of a computer's hardware system is its fan. The fan is located on the computer's CPU unit and when that thing gets clogged with dirt and dust, it can run down a computer faster than you can say, "Something's wrong with my computer and I don't know what it is!" In short, the fan is responsible for keeping a computer's motor cool and this motor is what keeps the computer's hard drive and peripherals functioning the way you need them to, which translates to "fast."
A dirty fan doesn't rotate fast enough to keep that motor cool and a completely clogged fan just stops rotating altogether. This causes the computer's motor to work harder - and a harder working motor can raise the electric bill! Worst case scenario: the motor can overheat and stop working as well. No motor equals no computer.
Keep your computer's fan clean by preventing the fan from getting dirty or dusty in the first place. Use the computer in a dust-free environment and never smoke around it. Nicotine and tar mean certain death when it comes to computer fans, however should you find a need to clean the fan, do so with extreme care.
It's quite easy to cause more damage from cleaning so if you're not comfortable with cleaning your PC yourself, take it to a shop for servicing. Otherwise, you can unplug and disassemble the computer to do it yourself.
You'll need a can of compressed air and an anti-static rag to remove stubborn clumps of dust. Hold the can perfectly vertical and spray the fan being careful not to spray the dust off the fan onto other sensitive parts of the computer like circuit boards or inside the motor casing. Wipe up remaining dust with your anti-static rag and then reassemble the computer.
One thing that you certainly don't want to use to remove computer dust is a vacuum cleaner. Although using a vacuum cleaner seems to make more sense, the strong suction of a vacuum cleaner can actually spark damaging static electricity or dislodge loose cables. You also don't want to use oil-based cleaners. Although Pledge may dust your wooden tables and cabinets to a perfect shine, the oil inside a cleaner like this will erode sensitive computer parts. Stick to a liquid-free dusting method and your dusting routine will be safe enough to repeat as often as you need.
As previously mentioned, preventing dust from entering the computer is extremely important and will reduce the need to open and dust your system in the first place. The severity of outside elements (smoking, humidity, pets, etc.) will ultimately determine how often you'll need to de-dust your machine. But as an average, you shouldn't need to perform this procedure any more than once or twice a year.
The entire exercise should take no more than twenty minutes tops and once complete, you'll immediately see and hear the difference in your machine. The computer's keyboard and mouse will run more smoothly, hardware won't take as long to connect, and the entire machine won't be as loud as one that's corroded with ugly dust bunnies.
Concise Computer Consulting of Clarkston says Computer Virus Repair is the only Answer to Remove Harmful Software: Virus, Spyware & Pop-ups
Viruses:
* Viruses - A virus is a small piece of software that replicates itself. A virus might attach itself to a program such as a spreadsheet program. Each time the spreadsheet program runs, the virus runs, too, and it has the chance to reproduce (by attaching to other programs) or wreak havoc.
* E-mail viruses - An e-mail virus moves around in e-mail messages, and usually replicates itself by automatically mailing itself to dozens of people in the victim's e-mail address book.
* Worms - A worm is a small piece of software that uses computer networks and security holes to replicate itself. A copy of the worm scans the network for another machine that has a specific security hole. It copies itself to the new machine using the security hole, and then starts replicating from there, as well.
* Trojan horses - A Trojan horse is simply a computer program. The program claims to do one thing (it may claim to be a game, or a "free" piece of software) but instead does damage when you run it (it may erase your hard disk). Trojan horses have no way to replicate automatically. They are called Trojan horses because they are sometimes disguised as normal computer programs.
Spyware:
Spyware is defined as any software that covertly gathers user information through the user's Internet connection without his or her knowledge, usually for advertising purposes. Spyware applications are typically bundled as a hidden component of freeware or shareware programs that can be downloaded from the Internet; however, it should be noted that the majority of shareware and freeware applications do not come with spyware. Once installed, the spyware monitors user activity on the Internet and transmits that information in the background to someone else. Spyware can also gather information about e-mail addresses and even passwords and credit card numbers.
Spyware often causes "pop-up" advertisements to appear on the user's screen, without the user's knowledge or consent. These pop-ups can be quite a headache, and spyware itself often slows down computers to a slow crawl.
Because spyware exists as independent executable programs, they have the ability to monitor keystrokes, scan files on the hard drive, snoop other applications, such as chat programs or word processors, install other spyware programs, read cookies, change the default home page on the Web browser, consistently relaying this information back to the spyware author who will either use it for advertising/marketing purposes or sell the information to another party. When the home page of your web browser changes without your knowledge or consent, this is referred to a home-page hijacking.
Sometimes, a computer is so badly infected with viruses and spyware that the harmful software cannot be removed without completely formatting the hard drive (deleting all files) and reinstalling the operating system. Now is when you contact your computer repair store. Ask for the computer virus repair technician. The tech will offer a data backup solution and note which programs you had installed, and then perform a BFR (Backup, Format, Reinstall, Restore) on your system. When the virus and spyware removal is completed, ask for instructions on how to run the programs that were installed to prevent viruses and spyware from compromising your system in the future.
* Viruses - A virus is a small piece of software that replicates itself. A virus might attach itself to a program such as a spreadsheet program. Each time the spreadsheet program runs, the virus runs, too, and it has the chance to reproduce (by attaching to other programs) or wreak havoc.
* E-mail viruses - An e-mail virus moves around in e-mail messages, and usually replicates itself by automatically mailing itself to dozens of people in the victim's e-mail address book.
* Worms - A worm is a small piece of software that uses computer networks and security holes to replicate itself. A copy of the worm scans the network for another machine that has a specific security hole. It copies itself to the new machine using the security hole, and then starts replicating from there, as well.
* Trojan horses - A Trojan horse is simply a computer program. The program claims to do one thing (it may claim to be a game, or a "free" piece of software) but instead does damage when you run it (it may erase your hard disk). Trojan horses have no way to replicate automatically. They are called Trojan horses because they are sometimes disguised as normal computer programs.
Spyware:
Spyware is defined as any software that covertly gathers user information through the user's Internet connection without his or her knowledge, usually for advertising purposes. Spyware applications are typically bundled as a hidden component of freeware or shareware programs that can be downloaded from the Internet; however, it should be noted that the majority of shareware and freeware applications do not come with spyware. Once installed, the spyware monitors user activity on the Internet and transmits that information in the background to someone else. Spyware can also gather information about e-mail addresses and even passwords and credit card numbers.
Spyware often causes "pop-up" advertisements to appear on the user's screen, without the user's knowledge or consent. These pop-ups can be quite a headache, and spyware itself often slows down computers to a slow crawl.
Because spyware exists as independent executable programs, they have the ability to monitor keystrokes, scan files on the hard drive, snoop other applications, such as chat programs or word processors, install other spyware programs, read cookies, change the default home page on the Web browser, consistently relaying this information back to the spyware author who will either use it for advertising/marketing purposes or sell the information to another party. When the home page of your web browser changes without your knowledge or consent, this is referred to a home-page hijacking.
Sometimes, a computer is so badly infected with viruses and spyware that the harmful software cannot be removed without completely formatting the hard drive (deleting all files) and reinstalling the operating system. Now is when you contact your computer repair store. Ask for the computer virus repair technician. The tech will offer a data backup solution and note which programs you had installed, and then perform a BFR (Backup, Format, Reinstall, Restore) on your system. When the virus and spyware removal is completed, ask for instructions on how to run the programs that were installed to prevent viruses and spyware from compromising your system in the future.
Computer Care, Can I Do It Myself?
With all of the resources available to you, you may well ask yourself, "Why do I need a computer expert to maintain my computer?" The short answer is, you don't. Just like you don't need a technician to fix your car, repair your furnace, or do any other maintenance or repairs. If you have the knowledge and the time, you can easily repair and maintain your own computer.
But be warned, there are several potential "gotchas" involved in maintaining your own computer. If you decide to repair your own automobile, a company won't sell you a carburetor what will break your car. Unfortunately, that's not true of computer maintenance. There are many programs out there that either don't do what they purport to do, perform unnecessary functions, or are just plain dangerous to install. It's up to you, the computer maintenance technician, to determine what programs you can safely use in what manner.
In this article, we'll discuss some of the programs out there and what the do-it-yourselfer needs to watch out for.
Registry Cleaners Websites such as Finally Fast.com and Double My Speed.com have been promoting themselves heavily of late. These (and other) sites offer products to download and install that purport to improve your computer's performance. These programs are mostly registry cleaners. The Windows registry is simply a database that the operating system uses to store everything it needs to know to run as per your specifications. In addition, it's available to any other program to write their information in there as well. Since Windows 95, the registry has been the recommended repository for user preferences, settings, and any other variables a program has to remember.
Over time the Windows registry will become cluttered with unneeded information, most frequently caused by uninstallation programs not removing all of the data they should. The concept of a registry cleaner is that it will detect and remove these orphan settings, frequently improving computer performance.
The problem with registry cleaners is that they will often incorrectly detect a setting as unneeded and delete it, causing problems with either installed programs or the Windows operating system itself. Registry cleaners are good, but you should never blindly take their advice as to what to delete. You should always review each entry to verify that it can be deleted safely.
And keep in mind there are freeware applications that do an excellent job of cleaning your Windows registry. Ccleaner is the one recommended by The Computer Psychic. (Go to Google and search for ccleaner.)
Anti-Malware Applications Malware (spyware and virus) cleanup and prevention is one of the most important aspects of computer maintenance. If you catch a virus on your system, you leave yourself open to all sorts of mischief - including having files deleted, getting your address book scammed and spam e-mails being sent in your name, and even having your credit card and banking information stolen! Spyware can be just as bad - it typically "watches" what you do on your computer, down to even logging keystrokes, and thus stealing your passwords. In addition to these problems, spyware and viruses are often poorly written, causing performance problems in your system.
There are dozens of applications on the market that claim to remove malware from your system. And many of them do a good job. But here's the rub - many programs that present themselves as anti-virus or anti-spyware are, themselves, viruses and spyware! The Computer Psychic has seen all too many systems where the owner has - with the best of intentions - installed an anti-malware app into their system, only to see the floodgates opened; they find themselves with more popup ads and performance problems than they've ever seen before.
So how do you make sure you don't install one of these #$%& programs? First of all, if you get a pop-up message telling you that your computer is infected with viruses and click here to download a virus cleaner, don't do it! Without exception, these programs are scams. Downloading one of these apps will introduce your system to more viruses than you thought existed. In fact, when you see this window, you'll be presented with an OK and Cancel button. Don't click either one! If you click Cancel, it will still install a virus. Instead, click on the little X in the upper right-hand corner to close the window.
Secondly, if you use a search engine looking for anti-malware programs, be careful what links you follow. Malware creators will name their applications very similar to - or even exactly the same as - legitimate programs, hoping to confuse you into downloading theirs instead of the good one. For example, if you wanted to download Spybot Search and Destroy (an excellent anti-spyware program) and searched for it in Yahoo, the very first result you'll find purports itself to be Spybot. Clicking their link takes you to a page that says it's Spybot Search and Destroy, but is actually an application that acts as a gateway to allow viruses into your system.
So, again, you need to take the time to learn what is and what isn't safe to install. The Computer Psychic has a very easy recommendation. Microsoft has a vested interest in keeping your computer malware-free. If they do a good job of preventing viruses from getting into your system, then that's one less thing that Apple can beat them up over. Towards that end, in September of 2009, Microsoft released an excellent free anti-malware program named Microsoft Security Essentials. In the past, The Computer Psychic has recommended against all-in-one solutions, arguing that no one application can catch everything. But Microsoft Security Essentials is just that good. It does as good a job as - or better than - any other application, or combination of apps, in blocking any type of spyware or virus.
Startup Monitors While not as popular as the other system maintenance programs, proper use of a startup monitor can dramatically speed up your computer. A startup monitor will tell you just what programs, drivers and processes load when you start your computer.
When you boot up your computer, the operating system will also auto-start many other components - possibly a fax application, printer elements, video or mouse drivers, to name a few. These are good - they are essential for the proper operation of your computer. However, many applications add themselves to the auto-run settings for their own convenience - not yours.
For example, programs such as Adobe Reader and Microsoft Office will tell the operating system to pre-load some of their components as Windows starts up. This allows their software to open more quickly when needed. The downside of this is, even if you aren't actively using their software, your computer is using memory running those components. Better to not pre-load those components; let the software take a second or two longer to load, and speed up your entire system.
Another popular use for the startup is for auto-update programs. These apps will periodically check the internet looking for updates. If one is found, the program will present you with a window telling you an update is available. Not only do these apps consume computer resources, they can be an annoyance.
In order to easily prevent unwanted software from running automatically, The Computer Psychic recommends a Microsoft application called Auto Runs. Using Autoruns you can decide just what apps you want to run when starting your computer. Once again, though, don't blindly turn of all apps. Make sure you know what you're disabling.
Summary
As you can see, using the tools recommended in this article makes it quite possible for anyone to maintain their computer's health. But as with anything technical, make sure you know what you're doing before just tinkering away.
But be warned, there are several potential "gotchas" involved in maintaining your own computer. If you decide to repair your own automobile, a company won't sell you a carburetor what will break your car. Unfortunately, that's not true of computer maintenance. There are many programs out there that either don't do what they purport to do, perform unnecessary functions, or are just plain dangerous to install. It's up to you, the computer maintenance technician, to determine what programs you can safely use in what manner.
In this article, we'll discuss some of the programs out there and what the do-it-yourselfer needs to watch out for.
Registry Cleaners Websites such as Finally Fast.com and Double My Speed.com have been promoting themselves heavily of late. These (and other) sites offer products to download and install that purport to improve your computer's performance. These programs are mostly registry cleaners. The Windows registry is simply a database that the operating system uses to store everything it needs to know to run as per your specifications. In addition, it's available to any other program to write their information in there as well. Since Windows 95, the registry has been the recommended repository for user preferences, settings, and any other variables a program has to remember.
Over time the Windows registry will become cluttered with unneeded information, most frequently caused by uninstallation programs not removing all of the data they should. The concept of a registry cleaner is that it will detect and remove these orphan settings, frequently improving computer performance.
The problem with registry cleaners is that they will often incorrectly detect a setting as unneeded and delete it, causing problems with either installed programs or the Windows operating system itself. Registry cleaners are good, but you should never blindly take their advice as to what to delete. You should always review each entry to verify that it can be deleted safely.
And keep in mind there are freeware applications that do an excellent job of cleaning your Windows registry. Ccleaner is the one recommended by The Computer Psychic. (Go to Google and search for ccleaner.)
Anti-Malware Applications Malware (spyware and virus) cleanup and prevention is one of the most important aspects of computer maintenance. If you catch a virus on your system, you leave yourself open to all sorts of mischief - including having files deleted, getting your address book scammed and spam e-mails being sent in your name, and even having your credit card and banking information stolen! Spyware can be just as bad - it typically "watches" what you do on your computer, down to even logging keystrokes, and thus stealing your passwords. In addition to these problems, spyware and viruses are often poorly written, causing performance problems in your system.
There are dozens of applications on the market that claim to remove malware from your system. And many of them do a good job. But here's the rub - many programs that present themselves as anti-virus or anti-spyware are, themselves, viruses and spyware! The Computer Psychic has seen all too many systems where the owner has - with the best of intentions - installed an anti-malware app into their system, only to see the floodgates opened; they find themselves with more popup ads and performance problems than they've ever seen before.
So how do you make sure you don't install one of these #$%& programs? First of all, if you get a pop-up message telling you that your computer is infected with viruses and click here to download a virus cleaner, don't do it! Without exception, these programs are scams. Downloading one of these apps will introduce your system to more viruses than you thought existed. In fact, when you see this window, you'll be presented with an OK and Cancel button. Don't click either one! If you click Cancel, it will still install a virus. Instead, click on the little X in the upper right-hand corner to close the window.
Secondly, if you use a search engine looking for anti-malware programs, be careful what links you follow. Malware creators will name their applications very similar to - or even exactly the same as - legitimate programs, hoping to confuse you into downloading theirs instead of the good one. For example, if you wanted to download Spybot Search and Destroy (an excellent anti-spyware program) and searched for it in Yahoo, the very first result you'll find purports itself to be Spybot. Clicking their link takes you to a page that says it's Spybot Search and Destroy, but is actually an application that acts as a gateway to allow viruses into your system.
So, again, you need to take the time to learn what is and what isn't safe to install. The Computer Psychic has a very easy recommendation. Microsoft has a vested interest in keeping your computer malware-free. If they do a good job of preventing viruses from getting into your system, then that's one less thing that Apple can beat them up over. Towards that end, in September of 2009, Microsoft released an excellent free anti-malware program named Microsoft Security Essentials. In the past, The Computer Psychic has recommended against all-in-one solutions, arguing that no one application can catch everything. But Microsoft Security Essentials is just that good. It does as good a job as - or better than - any other application, or combination of apps, in blocking any type of spyware or virus.
Startup Monitors While not as popular as the other system maintenance programs, proper use of a startup monitor can dramatically speed up your computer. A startup monitor will tell you just what programs, drivers and processes load when you start your computer.
When you boot up your computer, the operating system will also auto-start many other components - possibly a fax application, printer elements, video or mouse drivers, to name a few. These are good - they are essential for the proper operation of your computer. However, many applications add themselves to the auto-run settings for their own convenience - not yours.
For example, programs such as Adobe Reader and Microsoft Office will tell the operating system to pre-load some of their components as Windows starts up. This allows their software to open more quickly when needed. The downside of this is, even if you aren't actively using their software, your computer is using memory running those components. Better to not pre-load those components; let the software take a second or two longer to load, and speed up your entire system.
Another popular use for the startup is for auto-update programs. These apps will periodically check the internet looking for updates. If one is found, the program will present you with a window telling you an update is available. Not only do these apps consume computer resources, they can be an annoyance.
In order to easily prevent unwanted software from running automatically, The Computer Psychic recommends a Microsoft application called Auto Runs. Using Autoruns you can decide just what apps you want to run when starting your computer. Once again, though, don't blindly turn of all apps. Make sure you know what you're disabling.
Summary
As you can see, using the tools recommended in this article makes it quite possible for anyone to maintain their computer's health. But as with anything technical, make sure you know what you're doing before just tinkering away.
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