a qualitative analysis on the ups and downs in the capital market of bangladesh (2010-2011)

7/23/2019 A Qualitative Analysis on the Ups and Downs in the Capital Market of Bangladesh (2010-2011)

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B Rqbcdxbxdwa Bobctudu `o xna Q}u boh H`{ou doxna Eb}dxbc Ibvlax `g Fbokcbhaun .6=2=)6=22$



Belo`{cahkaiaox

A~aeqxdwa Uqiibvt

2/ Doxv`hqexdò 2

2/2 @vdkdo `g xna Va}`vx 22/6 Fbelkv`qoh 22/5 @fjaexdwau `g xna Uxqht 62/8 Vauabven Rqauxdòu 62/1 Vauabven Iaxn`h`c`kt 5

2/1/2 B}}v`ben g xna Uxqht 52/1/6 U`qveau `g Hbxb boh Iaxn`h 5

2/1/6/2 ]vdibvt U`qvea 52/1/6/2/2 Uacg)Bhidoduxavah Rqauxdòobdva 5

2/1/6/2/6 Rqauxdòobdva 52/1/6/2/5 N`{ xna Vau}òhaoxu {ava Uacaexah 8

2/1/6/6 Uaeòhbvt U`qvea 82/1/6/6/2 F``lu 82/1/6/6/6 Dowauxdkbxdò Va}`vx 12/1/6/6/5 Hbxb `g Dohdeau 12/1/6/6/8 ]bux Vauabvenau 12/1/6/6/1 Oa{u}b}av# J`qvobc boh @xnav U`qveau 1

2/1/5 Vacdbfdcdxt boh Wbcdhdxt 12/7 Ue`}au 12/; Cdidxbxdòu 7

6/ Uìa Di}`vxbox Eòea}xu Vakbvhdok Eb}dxbc Ibvlax ;5/ Eb}dxbc Ibvlaxu do Fbokcbhaun >

5/2 Ndux`vt `g Fbokcbhaun Eb}dxbc Ibvlaxu >5/6 Hnblb Uxèl A~enboka .HUA$ 45/5 Endxxbkòk Uxèl A~enboka .EUA$ 2=5/8 Uxvqexqva `g xna Eb}dxbc Ibvlaxu do Fbokcbhaun 2=5/1 Uaxxcaiaox boh Ecabvdok 265/7 Uaeqvdxdau boh A~enboka Eìiduudò .UAE$ 285/; Eaoxvbc Ha}ùdx`vt Fbokcbhaun Cdidxah .EHFC$ 28

8/ Eb}dxbc Ibvlax Evbun `g 2447 21

8/2 Fbelkv`qoh 218/6 Vabuòu 278/5 Vakqcbx`vu — Vau}òuau 2;

1/ Eb}dxbc Ibvlax Evbun `g 6=2=)6=22 2;1/2 Vabuòu g`v Ibvlax Q}uqvka 2;1/6 B Fvdag Bee`qox `g xna Xdiacdoa `g xna Ndux`vde Gbcc 2>1/5 V`cau `g Hdggavaox Ibvlax ]bvxded}boxu hqvdok xna Ibvlax Evbun 66

1/5/2 V`ca `g Fbokcbhaun Fbol do Eb}dxbc Ibvlax Evbun 661/5/6 V`ca `g Douxdxqxdòbc Dowaux`vu do xna Eb}dxbc Ibvlax Evbun 651/5/5 V`ca `g Uaeqvdxdau boh A~enboka Eìiduudò do xna Eb}dxbc Ibvlax

Evbun68

1/5/8 V`ca `g Fv`lavbka Gdviu do xna Eb}dxbc Ibvlax Evbun 61

Xbfca `g Eòxaoxu



1/5/8 V`ca `g Fv`lavbka Gdviu do xna Eb}dxbc Ibvlax Evbun 61

1/8 Vabuòu Fandoh xna Evbun 617/ Uqvwat Va}`vx 52

;/ Vaeìiaohbxdòu 57

>/ Eòequudò 5;

Vagavaoeau 5>

Xbfca `g Eòxaoxu



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2/ Doxv`hqexdò

2/2 @vdkdo `g xna Va}`vx

Xna va}`vx nbu faao }va}bvah bu b varqdvaiaox g`v xna eì}caxdò `g FFB Hakvaa boh e`qvua FQU84># ]v`jaex [`vl# Aokv/ Lbivqc Nbubo# e`qvua douxvqex`v# buudkoah x` h` bo bobctxdebc va}`vx ò –

’/ G`vxndu }qv}ùa D# Bgdg Bfqc Gbxxbn# DH%6==4)5)2=)=74 en`ùa x` }va}bva xndu va}`vx ò gdohdok xnav``x ebquau `g xna eb}dxbc ibvlax evbun do6=2=)22 / Xna hbxa `g uqfiduudò `g xna va}`vx du Bqkqux2# 6=26/

2/6 Fbelkv`qoh

@oa `g xna iùx di}`vxbox gdoboedbc douxdxqxdò {dxndo bo aeòìt du xna eb}dxbc ibvlax/ Eb}dibvlax `}aou h``v g`v eì}bodau x` vbdua nqka bi`qox `g eb}dxbc g`vi b c`x `g dohdwdhqbc bohdouxdxqxdòbc dowaux`vu doudha ' `qxudha `g b e`qoxvt/ Nava dowaux`vu }bvxded}bxa w`cqoxbvt x` fqt`{oavund} `g b eì}bot do xna }qfcde ibvlax/ Dx du ubdh xnbx uxèl ibvlax du bo doxaviahdbvdouxdxqxdò x` bhjqux b kb} fax{aao uqv}cqu qodxu boh hagdedx qodxu `g bo aeòìt/ Do xnaua hbidccdòu `g idhhca ecbuu ahqebxah }a`}ca do Fbokcbhaun dowauxdok do uxèlu du i`va }`}qcbv xdowauxdok do bot `xnav dowauxiaox uaex`vu/ G`v bo dowaux`v# uxèlu bva i`va cdrqdh xnbo botdowauxiaox u`qveau bu dx kdwau bfdcdxt x` uacc boh fqt `{oavund} botxdia {dxn`qx bot nbuuca/

@wav xna tabvu ibot nbwa enbvbexavdzah uxèl ibvlax `v eb}dxbc ibvlax bu b –U}aeqcbxdwa Ibvlax’#{nden iabou ibvlax }bvxded}boxu ebo abvo b vaxqvo gvì xnadv dowauxiaox gvì xna hdggavaoxdb}vdeau/ Bcxn`qkn xndu }vdea hdggavaoxdbc bva uq}}ùah x` fa `qx `g }bvxded}box—u eòxv`c# do vabc}bvxded}boxu ebo eòxv`c xndu }vdea hdggavaoxdbc xnv`qkn doudhav xvbhdok/ Bu b vauqcx# xna x` b –Ibod}qcbxdwa Ibvlax’/ Do xnaawaox `g uqen dccakdxdibxa xvbhdok# xna ibvlax e`ccb}uau boh{vòkhàv abvou b nqka }v`gdx do xna a~}aoua g xna cùu g ibj`vdxt dowaux`vu/ Dowaux`vu do Fboa~}avdaoeah uqen bo awaox do6=2=)6=22 /

Udoea6==; unbva }vdeau `g Fbokcbhaun eb}dxbc ibvlax nbwa faao doevabudok uxabhdct `wav xna }butabvu boh dx qx}avg`viah bciùx bcc xna {`vch¸u ibvlaxu/ G`v douxboea# dx }avg`viah bu6oh faux do xna{`vch bgxav Uvdcbolb do6=2= kbdodok oabvct>5!/ Xna gdoboedbc tabv6==>)=4 du lo`{o g`v xna kc`fbcgdoboedbc boh aeòìde evdudu/ Ibot hawac`}ah boh hawac`}dok e`qoxvdau gbcc dox` vaeauudò/ N`{dx e`qch o`x bggaex Fbokcbhaun aeò it kvabxct/ U`# xna uxèl ibvlax `g xna e`qoxvt hdh o`x uaa boudkodgdebox enbokau `v gbcc/ Bu E]H .6=22 $ va}`vxah# gdoboedbc tabv6==>)=4 {bu b w`cbxdca tabv fqxhqvdok xndu tabv Fbokcbhaun aeòìt faoagdxah gvì c`{ }vdeau `g di}`vx)bfca boh {bu bfca x` bw`dhoakbxdwa }vauuqva ò dxu a~}`vx `g k``hu boh uavwdeau



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Xna eòuaeqxdwa qxuxbohdok }avg`viboea g Fbokcbhaun uxèl ibvlax do vaeaox tabvu fag`va xna evcqvah idccdòu `g dowaux`vu x` xna uxèl ibvlax x` dowaux xnadv cdxxca ubwdoku/ Fag`va xna uxèevbun xna ibvlax nbh faeìa b v`qxa `g abut iòat g`v x`` ibot oa{ dohdwdhqbc dowaux`vu/Xnbx du {nt idccdòu `g gvaun dowaux`vu dowaux xnadv uibcc ubwdok do xna ibvlax hqvdok xndu }a

xnaua gvaun dowaux`vu dowauxdok do xndu ibvlax }v`wdhah b {bt x` bw`dh {`vldok b j`f/ Awao uìabee`qox n`chavu {`vlah bu doxaviahdbvdau `g gvdaohu# vacbxdwau x` dowaux xnadv iòat do xnaibvlax/

@o Jboqbvt4#6=22 xna faoenibvl doha~ `g xna Hnblb Uxèl A~enboka .HUA$ uqggavah xna uxaa}auxawav udokca)hbt gbcc do xna f`qvua+u11 )tabv ndux`vt/ Xna HUA Kaoavbc Doha~ .HKAO$ }cqokah ft7== }`doxu# boh bcc dohdeau gacc oabvct> }aveaox do xna {bla `g }bode)ubcau/ Fvabldok xna }vawd`qu hbt+uvae`vh# ò Jboqbvt2=# HKAO unah77= }`doxu `v4/61 }aveaox fax{aao22 bi boh 22:1= bi/ Xnaeb}dxbc ibvlax {bu unqx< uibcc dowaux`vu xqvoah wbohbcduxde< boh xna fqudoauu hduxvdex g I`xxvboug`viah dox` b fbxxcagdach fax{aao }v`xauxavu boh cb{)aog`veavu/ Hau}dxa xna iabuqvau xblxna vakqcbx`vt eìiduudòu }a`}ca uqggavah ibj`v gdoboedbc cùu boh {`vua xnbo xnbx# ibot cùeògdhaoea do xna uxèl ibvlax/

2/5 @fjaexdwau `g xna Uxqht

Xna x`}de `g xndu uxqht du wavt udkodgdebox g`v xna qohavuxbxdok }v`fcaiu boh }vù}aexu do aiaeb}dxbc ibvlaxu cdla Fbokcbhaun/ Dhaoxdgdebxdò `g xna v``x ebquau xna6=2=)6=22 ebo di}v`wa

uxblan`chav—u b{bvaoauu vakbvhdok eb}dxbc ibvlax ibod}qcbxdò/ Tax# wavt cdxxca vauabven nbu faao hx` }v`wdha lo`{cahka bf`qx xna evbun/ U`# xna uxqht xvdau x` a~bidoa xna vabuòu xnbx cabhah xna–FqccVqo’ g`v hvbibxde doevabua`g hdggavaox douxvqiaoxu do Fbokcbhaun uxèl ibvlax boh xna gqohbiaoxbcgbex`vu `g xna e`ccb}ua/ Dx bcu` bobctzau xna v`ca `g HUA# EUA# boh UAE bu ibvlax vakqcbx`vuxna fqffca g`vibxdò boh fqvux/ Faudhau# xna uxqht xvdau x` }v`wdha lo`{cahka g`v xna uxblan`chvacbxah x` xndu uxèl ibvlax/ U` xnbx dowaux`vu boh `xnav uxblan`chavu do Fbokcbhaun uxèl ibvlaxaiavkdok uxèl ibvlaxu ebo fa b{bva `g udidcbv ldoh `g e`ccb}ua/

2/8 Vauabven Rqauxdòu

Xna lat rqauxdòu xnbx {`qch fa bou{avah ft xna uxqht bva g`cc`{dok:

[nbx {ava xna vabuòu g`v xna qoquqbc f`ì do xna eb}dxbc ibvlax gvì idh Gafvqbvt6==40

[nbx {ava xna vabuòu g`v xna evbun do xna ibvlax }vdea do xna abvct Jboqbvt6=22 0

[bu xna vakqcbx`vu— vau}òuau {ava bharqbxa x` eòxv`c q}u boh h`{ou do xna ibvlax0

Dg vakqcbx`vu— vau}òuau bva o`x bharqbxa# xnao {nbx ebo fa xna còk xavi eòuarqaoea vakbvhdokuxbfdcdzdok xna ibvlax0



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2/1 Vauabven Iaxn`h`c`kt

Xna bdi `g xndu uaexdò du x` un`{ n`{ xna hbxb {bu e`ccaexah# ft {nden iaxn`h boh u`qvea boh xna}vèauu `g bobctzdok xna hbxb/

2/1/2 B}}v`ben `g xna Uxqht

Faebqua `g obxqva `g xna vauabven# b rqbcdxbxdwa vauabven iaxn`h nbu faao quah/ Gdohdok vabuxna evbun boh v`ca `g xna vakqcbx`vu boh xna k`wavoiaox du xna bdi `g xna va)uabven/ Xna varqdog`vibxdò dxuacg bulu g`v b rqbcdxbxdwa vauabven b}}v`ben/

2/1/6 U`qvea `g Hbxb boh Iaxn`h

Xna hbxb quah g`v xndu vauabven {ava `fxbdoah boh quah gvì f`xn }vdibvt boh uaeòhbvt u`qveauI`va`wav# b uacg)bhidoduxavah rqauxdòobdva nbu faao quah x` e`ccaex }vdibvt hbxb/

2/1/6/2 ]vdibvt U`qvea

G`v xna }vdibvt hbxb# uacg)bhidoduxavah rqauxdòobdva {dcc fa uaox x`21 ai}c`taau `g xnvaa hdggavaoxfv`lavbka n`quau boh 2= kaoavbc dowaux`vu/ Xna rqauxdòobdva eòuduxu g 2= rqauxdòu/

2/1/6/2/2 Uacg)Bhidoduxavah Rqauxdòobdva

Xna uacg)bhidoduxavah rqauxdòobdva gbundòah ò xna fbudu `g xna Dowauxdkbxdò Va}`Lnòh`lbv Dfvbndi Lnbcah .6=22 $/ Bcxn`qkn xna }vdibvt vabuòu fandoh xna evbun nbwa faao}v`wdhah do xna va}`vx# xna uacg)bhidoduxavah rqauxdòobdva {dcc nac} x` gdoh `qx `xnav ebquaudu bot xnbx hdh o`x b}}abv do xna dowauxdkbxdò va}`vx/ Dx bulu bf`qx xna v`ca `g vakqcbxk`wavoiaox xnbx nbu }cbtah x` di}v`wa ibvlax eòhdxdòu udoea xna evbun/ Faudhau# xna ubhidoduxavah rqauxdòobdva gdohu x` vaeìiaoh uìa uxa}u xnbx vakqcbx`vu boh k`wavoiaox ebo bh`}x` }v`xaex dowaux`vu `v xndu ldoh `g e`ccb}ua do gqxqva/ Xna uacg)bhidoduxavah rqauxdòobdvaxna {vdxav x` kbxnav dog`vibxdò x` u`cwa xna va)uabven rqauxdòu boh ibla vaeìiaohbxdòu

A~}aexah vauqcx {`qch ebvvt: oa{ dhabu doecqhau ebquau `g xna uxèl ibvlax evbun xnbx {ava o`x do xna dowauxdkbxdò v uqkkauxdòu g`v hawac`}iaox `g xna ibvlax ft xna vakqcbx`vu boh k`wavoiaox bgxav xna evbu vaeìiaohbxdòu g`v xna vakqcbx`vu boh k`wavoiaox x` }vawaox xndu ldoh `g evbun bou{avu do haxbdcu boh bee`vhdok x` vau}òhaoxu— gaacdoku

2/1/6/2/6 Rqauxdòobdva

Xna rqauxdòu g`v xna rqauxdòobdva {ava uacaexah c`kdebcct x` ibxen xna a~}aexah vauqcx/ Xnava2= rqauxdòu do xna rqauxdòobdva {nden {ava do Aokcdun wavudò/ Xna rqauxdòobdva eòuduxu `5



8

ecùah rqauxdòu boh; `}ao rqauxdòu/ Xna rqauxdòobdva du bxxbenah do xna b}}aohdeau `g xnaxnaudu/

2/1/6/2/5 N`{ xna Vau}òhaoxu [ava UacaexahG`v xndu vauabven uacaexdok vau}òhaox du b wavt nbvh j`f bu dx dow`cwau eògcdex `g doxavaux biòk xna uxblan`chavu/ Vau}òhaoxu {ava enùao ò xna bqxn`vmu jqhkiaox/ Hdggavaox ibvlaxbobctuxu boh aeòìdux }`doxah xnbx xnava bva u` ibot dowaux`vu do xndu uxèl ibvlax {n` hò—x nbwaao`qkn lo`{cahka bf`qx dowauxiaox do xna eb}dxbc ibvlax/ Xna bdi `g xna {vdxav du x` dko`va xnubi}ca `g dowaux`vu x``/ X` uacaex xna vau}òhaox bqxn`v quah g`cc`{dok evdxavdb:

Hàu xna vau}òhaox nbwa xna e`vvaexah bu {acc bu beeqvbxa dog`vibxdò bf`qx xna evbun0 Du xna vau}òhaox bharqbxact a~}avdaoeah boh ahqebxah bf`qx xna uqfjaex x` `}doa0

Hàu xna vau}òhaox nbwa dog`vibxdò bf`qx ibvlax eòhdxdòu awao bgxav xna evbun0

Laa}dok bcc xnaua rqauxdòu do idoh# xna bqxn`v uacaexah x{` hdggavaox ubi}ca kv`q}u `g vau}òh{nden bva ai}c`taau `g fv`lavbka n`quau boh kaoavbc dowaux`vu/ Xna ai}c`taau `g xna fv`lavbkan`quau nbwa hbdct q}hbxau dog`vibxdò bf`qx xna ibvlax boh vakqcbv vacbxdòund} {dxn hdggavaoxn`chavu `g xna ibvlax boh k``h ahqebxdòbc fbelkv`qoh xnbx nac} xnai x` `fxbdo b j`f do fv`lavn`qua/ Xna vau}òhaoxu g xnvaa fv`lavbka n`quau {ava gvì hdggavaox ha}bvxiaoxu doecqhdok vauabboh ubcau/ I`va`wav# xna bqxn`v }avuòbcct lo`{u xnbx iùx `g xna ai}c`taau `g fv`lavbka n`quaudowaux do xna uxèl ibvlax/ U`# ibot `g xnaua vau}òhaoxu nbwa a~}avdaoea `g dowauxdok do xna i

{dxn {`vldok a~}avdaoea/ U`# dx {`qch fa }ùudfca x` `fxbdo dog`vibxdò gvì ai}c`taa boh dowaux`v}`dox `g wda{/ Xn`qkn xnava bva u` ibot fv`lavbka n`quau do Fbokcbhaun# xna bqxn`v uacaexah xnvfv`lav n`quau bu dx {bu abut g`v xna bqxn`v x` kax dog`vibxdò gvì xnaua n`quau/

X` uacaex dowaux`vu g`v xna uacg)bhidoduxavah xna bqxn`v x``l uqkkauxdò gvì xna ai}c`taau fv`lavbka n`quau/ Dowaux`vu {ava uacaexah ò xna fbudu `g xnadv ahqebxdòbc fbelkv`qoh# lo`{cabf`qx xna ibvlax boh dowauxiaox do dx# vakqcbv q}hbxah dog`vibxdò `g xna ibvlax boh a~}avdaoeaxna uxèl ibvlax evbun `g 6=2=)22 /

2/1/6/6 Uaeòhbvt U`qvea

Xna quah uaeòhbvt u`qveau g`v xna uxqht bva F``lu# dowauxdkbxdò va}`vx# }bux vauabvenau# oa{j`qvobc# acaexvòde }qfcdebxdòu boh dohdeau hbxb `g HUA boh EUA/

2/1/6/6/2 F``lu

Bcxn`qkn f``lu {ava o`x xna ibj`v uaeòhbvt u`qvea g`v xna uxqht# uìa f``lu nbwa faao quah x``/F``lu ò xna eb}dxbc ibvlaxu nbwa faao uxqhdah g`v }va}bvdok xndu }b}av/



1

2/1/6/6/6 Dowauxdkbxdò Va}`vx

G`v xndu vauabven# Dowauxdkbxdò Va}`vx `g Lnòhlbv Dfvbndi Lnbcah .6=22 $ du quah bu xna ibdovau`qvea g`v xna`vaxdebc }bvx/ Xna va}`vx {bu e`ccaexah gvì fhoa{u68 /eì/ Xna gqcc va}`vx eòuduxu`g 5== }bkau/ Xna va}`vx du wavt quagqc g`v xna vauabven bu dx kdwau eì}caxa dhab bf`qx xna eòxxna }v`fcai {dxn ebua uxqhdau boh uavwau x` u`cwa xna vauabven rqauxdòu/ Dx bcu` nac}u x` auxdv`ca `g vakqcbx`vu boh k`wavoiaox do xna eb}dxbc ibvlax `g Fbokcbhaun hqvdok boh fag`va xna evb

2/1/6/6/5 Hbxb `g Dohdeau

Dohdeau hbxb g HUA {bu e`ccaexah gvì HUA {afudxa boh dohdeau hbxb g EUA gvì Endxxbkòk uA~enboka {afudxa/ Xnaua hbxb {bu quah x` a~bidoa udkodgdebox gbcc boh vdua `g unbva }vdeau a~enbokau boh x` hvb{ kvb}nu `g dohdeau g`v hdggavaox xdia }avd`hu/

2/1/6/6/8 ]bux Vauabvenau

]bux vauabvenau g`v uxèl ibvlax evbun `g Fbokcbhaun do6=2=)22 {bu wavt hdggdeqcx x` gdoh/ Fqx xnabqxn`v g`qoh uìa bvxdecau ò xna evbun boh vauabvenau ò `xnav evbunau hòa ft hdggavaox uen`cb

2/1/6/6/1 Oa{u}b}av# J`qvobc boh @xnav U`qveau

Oa{u}b}av# J qvobc boh `xnav acaexvòde u`qveau bva xna iùx di}`vxbox boh i`va quah u`qveau xnb`xnav u`qveau quah g`v xna uxqht/ Di}`vxbox hbdct oa{u boh `xnav dog`vibxdò {ava e`ccaexah gvxna oa{u}b}av {nden du evqedbc g`v xndu ldoh `g vauabven/ Xna quah j`qvobcu g`v xna uxqht {avavaeaox boh bvendwau/ Hdggavaox bvxdecau {ava e`ccaexah gvì xnaua u`qveau/ Xna vau`qveau ù`qveau bva h`{oc`bhah wdb doxavoax/

2/1/5 Vacdbfdcdxt boh Wbcdhdxt

Bcc xna rqauxdòu uacg)bhidoduxavah rqauxdòobdva {ava ibha bu udi}ca bu }ùudfca x` bwqooaeauubvt haea}xdwaoauu/ Dx nac}u vau}òhaoxu x` }v`wdha beeqvbxa boh evahdfca bou{avu/ B

dohdeau hbxb e`ccaexah gvì f`xn uxèl a~enbokau bva ndknct vacdbfca/ Xnavag`va# xna uxqht ecbdnbwa vacdbfdcdxt/

Xna ubi}ca `g vau}òhaoxu boh xna rqauxdòu gdx {dxn xna gdohdoku `g xna uxqht {nden du wbcdhvauabven/

2/7 Ue`}au

Xna ue`}a `g xndu }b}av du cdidxah x` òct xna ebquau eb}dxbc ibvlax evbun do Fbokcbhaun hqvdok6=2=)

6=22 / Xna iaenbodui `g uxèl a~enbokau# uedaoxdgde iaxn`hu `g dowauxdok do xna uaeqvdxdau



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iaenbodui `g fv`lavbka gdviu boh eìiavedbc fbolu boh uxèl ibvlax evbun do `xnav }bvxu `g xna{`vch bva fatòh xna ue`}a `g xndu }b}av/

2/; CdidxbxdòuG`cc {doku bva xna }aveadwah cdidxbxdò `g xndu }b}av:

Dhaoxdgtdok xna haxbdcah ebquau `g xna ibvlax evbun varqdvau ao`vi`qu xdia boh vau`qveXnbx—u {nt xna }b}av un`qch o`x fa wda{ah bu bo aoxdva }``c `g vabuòu g`v xna eb}dxbc ibvlaxevbun vbxnav dx òct aoxbdcu xna iùx di}`vxbox òau/

Xna bqxn`v e`qch o`x b}}v`ben bcc uxblan`chavu vacbxah x` xna uxèl ibvlax `g Fbokcbhaun xeòhqex uacg)bhidoduxavah rqauxdòobdva/ U`# kaxxdok hdggavaox wda{u g hdggavaox uxb

{bu o`x }ùudfca/ Xnbx—u {nt xnava idknx fa eògcdex `g doxavaux biòk xna uxblan`chavu/



;

6/ Uìa Di}`vxbox Eòea}xu Vakbvhdok Eb}dxbc Ibvlax

[nbx du Eb}dxbc Ibvlax0

Bee`vhdok x` Hv/ Kqvqbubit# Eb}dxbc ibvlax du xna ibvlax {nava còk xavi gqohu bva f`vv {ah bohcaox# xna }vdibvt }qv}ùa du hdvaexdok xna gc`{ `g ubwdoku dox` còk xavi dowauxiaoxu .iùxct}avd`h `g òa tabv boh bf`wa$

Eb}dxbc Ibvlaxu quqbcct haiòuxvbxau g`cc`{dok gabxqvau:

2/ Haiboh g`v còk xavi gqohu bvdua gvì douxdxqxdò# k`wavoiaox boh xna}vdwbxa e`v}`vbxa uaex`v/

6/ Gqohu bva vbduah xnv`qkn duuqa `g gdoboedbc douxvqiaoxu uqen bu unbvhafaoxqvau boh fòhu/

5/ Dohdwdhqbcu .n`quan`ch uaex`vu$# douxdxqxdòu# fbolu boh dohquxvdbc gddouxdxqxdòu bva xna ibdo u`qvea `g uq}}ct `g còk xavi gqohu/

8/ Xna eb}dxbc ibvlax bexu bu bo dhabc eòhqdx g`v xna xvbouiduudò `g ubwdokuuqv}cqu qodxu x` hagdedx qodxu {nden haiboh còk xavi gqohu/

1/ Eb}dxbc ibvlax }cbtu b udkodgdebox v`ca do xna gdoboedbc utuxai ft}vì}xdok ubwdoku boh dowauxiaoxu# {nden bva wdxbc g`v xna hawac`}iaox boh kv`{xn `gaeòìt/ Dx beeacavbxau xna }bea `g aeòìde hawac`}iaox/

7/ Xna }vdea iaenbodui }vawbcaox do bexdwa eb}dxbc ibvlaxu aouqvau `}xdibcbccèbxdò `g uebvea gdoboedbc vau`qveau x` xna iùx }v`hqexdwa uaex`vu `g xna aeòìt/ Xutuxai g bccèbxdò g gqohu {`vlu xnv`qkn doeaoxdwau boh }aobcxdau/ Bee`vhdokct# eì}bodxnbx }avbxa aggdedaoxct ebo uacc uaeqvdxdau bx }vaidqi .doeaoxdwau$/ Eòwavuact# eì}bod}``v }avg`viboea gbea }v`fcaiu do uaccdok xnadv uaeqvdxdau boh ibt nbwa x` duuqa uaeqvdxdb hdue`qox x` vbdua bhhdxdò gqohu `v `ggavu ndknav vbxau `g doxavaux/

[nbx du uxèl ibvlax fqffca0

[a ebo hagdoa boAeòìde Fqffca bu b uqvka do xna ibvlax ebquah ft u}aeqcbxdò vakbvhdok beìi`hdxt {nden vauqcxu do bo a~}cùdò g bexdwdxt do xnbx ibvlax uakiaox ebqudok wbuxct wavdog

}vdeau/ Xna }vdeau bva o`x uquxbdobfca boh xna fqffca du quqbcct g`cc`{ah ft b evbun do }vdeau dbggaexah uaex`v/

Bo aeòìde fqffca xbldok }cbea do xna uxèl ibvlax {nava ibvlax }bvxded}boxu hvdwa uxèl }vdeaubf`wa xnadv wbcqa do vacbxdò x` uìa utuxai `g uxèl wbcqbxdò .a/k/ hdwdhaoh i`hac$ du ebccah bUxèl Ibvlax Fqffca /

[nbx du uxèl ibvlax evbun0

Do kaoavbc# b uxèl ibvlax evbun du b uqhhao hvbibxde haecdoa g uxèl }vdeau bevùu b udkodgdebouaexdò .d/a/ hdggavaox dohquxvt$ `g b uxèl ibvlax/



>

Bibha` .o/h/$ hagdoah uxèl ibvlax evbun bu i`va xnbo2=! cùu {dxndo ga{ hbtu do b uxèl ibvlax/Fqx uxèl ibvlax evbun nbu hdggavaoxdbxah gvì uxèl ibvlax e`vvaexdò {nava xna cùu du2=! `v cauu/

[nbx du Uxèl A~enboka0Uxèl a~enboka du bo `vkbodzah }cbea `v bvvbokaiaox {nava xna fqtav boh uaccav du fv`qknx x`kaxu` xnbx xnat ebo fqt ubca xnadv uxèlu unbva/ G`v a~bi}ca Hnblb Uxèl A~enboka nbu bo acaexvòxvbhdok utuxai ebccah XAUB boh Endxxbkòk Uxèl A~enboka nbu bo acaexvòde xvbhdok utuxai eWAEX@V/ Xnaua x{` utuxai {`vl bu bo bvvbokaiaox x` nac} fqt ubca `g cduxah uaeqvdxdau/

[nbx du Fv`lavbka Gdvi0

B fv`lav du bo doxaviahdbvt {n` {`vlu bu bo bkaox x` fvdok x`kaxnav fqtav boh uaccav boh dx xblaeìiduudò gvì xna uqeeauugqc fqt ubcau/ B fv`lav iqux fa cduxah iaifav `g bot uxèl a~enboka.d/a/ HUA# EUA$/

[nbx du Lavf ibvlax0

Lavf ibvlax du bo qo`ggdedbc obia g`v bo qo`ggdedbc bexdwdxt ) xna xvbhdok `g uaeqvdxdau `qvae`kodzah uxèl a~enboka/ Xna obia havdwau gvì xna ndux`vdebc }vbexdea `g habcavu eòxdoqdxvbha ò xna }bwaiaox bgxav xna a~enboka+u n`qvu `g fqudoauu/

5/ Eb}dxbc Ibvlaxu do Fbokcbhaun

Do Fbokcbhaun xnava bva x{` Eb}dxbc ibvlaxu# .2$ Hnblb Uxèl A~enboka .HUA$ boh .6$ EndxxbkòkUxèl A~enboka .EUA$/

Do xna g`cc`{dok uaexdòu hauevdfa xna ndux`vt `g eb}dxbc ibvlaxu do Fbokcbhaun# dxu uxvqexqv

di}`vx douxdxqxdòu vacbxah {dxn dx/

5/2 Ndux`vt `g Fbokcbhaun Eb}dxbc Ibvlaxu

Gdvux eb}dxbc ibvlax `g Fbokcbhaun {bu auxbfcdunah do xna ]blduxbod }avd`h ò B}vdc6>#2418 bu Abux]blduxbo Uxèl A~enboka Buuèdbxdò Cxh/ [dxn b x`xbc }bdh q} eb}dxbc `g Xl/8 fdccdò boh247 uaeqvdxdau# xna ibvlax uxbvxah dxu xvbhdok bexdwdxdau gvì2417 /

@o Jqoa65#2476 # xna ibvlax {bu vaobiah bu Hnblb Uxèl A~enboka .HUA$/ Xvbhdok ò HnblbUxèl A~enboka {bu uqu}aohah gvì24;2 x` 24;7 faebqua `g cdfavbxdò {bv boh dxu }ùx)



4

doha}aohaoea {abl aeòìt/ Xnao xna xvbhdok {bu vauqiah do24;7 {dxn4 cduxah uaeqvdxdau nbwdok bx`xbc }bdh q} eb}dxbc `g Xblb25;/16 idccdò/ .Nbuubo# Ducbi ' Fbunav#6===$

Ft 24>; # xna oqifav `g cduxah eì}bodau do HUA doevabuah q} x`46 / Fqx ndkn hawac`}iaox `g xnaibvlax du o`xdeabfca do xna244= u eì}bvdok {dxn bot `xnav xdia udoea dxu auxbfcduniaox/ .Aeòìt{bxen#6=2=$

5/6 Hnblb Uxèl A~enboka .HUA$

Xna }avbxdò g Hnblb Uxèl A~enboka uxbvxah o Ibt28#2478 bgxav vaobidok Abux ]blduxbo UxèlA~enboka Cdidxah/

Hnblb Uxèl A~enboka .HUA$ du vakduxavah bu b ]qfcde Cdidxah Eì}bot boh dxu bexdwdxdauvakqcbxah ft dxu Bvxdecau `g Buuèdbxdò vqcau ' vakqcbxdòu boh fta)cb{u bcòk {dxn xna Uaeboh A~enboka @vhdoboea )2474 # Eì}bodau Bex )2448 ' Uaeqvdxdau ' A~enboka Eìiduudò Bex )2445 /

Do xna fakdoodok HUA {bu b }ntudebc uxèl a~enboka boh quah x` xvbha do xna `}ao `qxevt utuxBgxav xnbx x` uaeqva ui``xn# xdiacdoauu ' aggaexdwa `}avbxdò ò xna ibvlax# HUA quau bqxìbxxvbhdok utuxai/ Xna utuxai {bu douxbccah ò2=xn Bqkqux#244> boh {bu q}kvbhah xdia x` xdia/ Xnacbxaux q}kvbhdok {bu hòa ò62 ux Haeaifav#6==>/

Xnava bva65> iaifavu boh x`xbc1=; cduxah uaeqvdxdau do Hnblb Uxèl A~enboka/ Xna {`vldok hbtu`g HUA du1 hbtu do b {aal {dxn`qx Ubxqvhbt# Uqohbt }qfcde n`cdhbtu ' `xnav k`wavoiaox n`cdhbtu/Xna xvbhdok xdia du gvì22:== bi x` 5:== }i .cèbc xdia$/ Dowauxiaox `}xdòu g`v bo dowaux`v do xnduibvlax bva `vhdobvt unbva# Hafaoxqva# Fòh ' Iqxqbc gqohu/

Bu iaoxdòah ft Gacc`{au .6==>$# –Awavt uxèl ibvlax nbu dxu dohdeau x` un`{ i`waiaoxu do xnaibvlax bu b {n`ca’/ Do xna fakdoodok HUA nbh òct òa doha~/ N`{awav# o`{ xnava bva xnvaa hdggavaoxdohdeau {nden bva HUD .Bcc unbva$# HKAO .B# F# K ' O$ boh HUA6=/

.U`qvea: {{{/huafh/`vk$

Xna ibj`v gqoexdòu `g HUA bva:

Cduxdok `g Eì}bodau .Bu }av Cduxdok Vakqcbxdòu$/ ]v`wdhdok xna uevaao fbuah bqxìbxah xvbhdok `g cduxah Uaeqvdxdau/ Uaxxcaiaox `g xvbhdok .Bu }av Uaxxcaiaox `g Xvboubexdò Vakqcbxdòu$/ Kdgxdok `g unbva kvboxdok b}}v`wbc x` xna xvboubexdò xvbougav `g unbva `qxud

xvbhdok utuxai `g xna a~enboka .Bu }av Cduxdok Vakqcbxdòu86 $/ Ibvlax Bhidoduxvbxdò ' Eòxv`c/

Ibvlax Uqvwadccboea/ ]qfcdebxdò `g Iòxnct Vawda{/

http://www.dsebd.org/






2=

Iòdx`vdok xna bexdwdxdau `g cduxah eì}bodau .Bu }av Cduxdok Vakqcbxdòu$/ Dowaux`vu kvdawboea Eacc .Hdu}ùbc `g eì}cbdox ft cb{u244; $/ Dowaux`vu ]v`xaexdò Gqoh .Bu }av dowaux`v }v`xaexdò gqoh Vakqcbxdòu2444 $/ Boo`qoeaiaox g ]vdea uaoudxdwa v xnav dog`vibxdò bf`qx cduxah eì}bodau xnv`qkn ocdo

5/5 Endxxbkòk Uxèl A~enboka .EUA$

Endxxbkòk Uxèl A~enboka du xna6oh uxèl a~enboka `g Fbokcbhaun/ Dx du ubdh xnbx EUA du xna }dòaa`g xna i`havo eb}dxbc ibvlax `g xna e`qoxvt bu dx doxv`hqeau i`havo xaeno`c`kt ' u`}nduxdebxahc`kduxde uq}}`vx/ Dx {bu doe`v}`vbxah bu b uacg)vakqcbxah oò)}v`gdx `vkbodzbxdò ò 2ux B}v2441 boh g`vibcct `}aoah ò O`waifav8#2441 / Dx uxbvxah dxu xvbhdok xnv`qkn evt)`qx utuxai/ XnaoEndxxbkòk Uxèl A~enboka uxbvxah gdvux bqxìbxah xvbhdok f`qvua `g xna e`qoxvt/ EUA uxbvx

bqxìbxah xvbhdok ò6oh Jqoa#244> boh doxavoax xvbhdok uavwdea ò5=xn Ibt# 6==8 /Xna xvbhdok xdia `g EUA du fax{aao22:== bi x` 5:== }i/ Xna {`vldok hbtu ' n`cdhbtu `g EUA bvaubia bu cdla bu HUA/ EUA eòuduxu `g 61 iaifavu `g {nì 26 bva acaexah xnv`qkn acaexdò `g EUAiaifavu# 26 iaifavu bva acaexah gvì hdggavaox ibj`v aeòìde ' uèdbc bvaob `g Fbokcbhaun bohEA@ du oìdobxah boh b}}`doxah ft dxu `{o f`bvh fqx xna b}}v`wbc `g UAE ibohbx`vt/

O`{ EUA nbu28; iaifavu boh 65> `g cduxah uaeqvdxdau/ Xnava bva g`qv hdggavaox ibvlaxu do EUA x{nden bva }qfcde# U}`x# Fcèl ' @hh C`x ibvlax/ Xvbhdok du hòa xnv`qkn bcc xnaua g`qv ibvlaxu/ BF# O# K boh Z xnaua bva xna1 ebxak`vdau `g eì}bot cduxah do EUA boh dx du iaoxdòbfca xnbx do K

ebxak`vt xnava du o`x bot eì}bot/Endxxbkòk Uxèl A~enboka nbu dxu {o dohdeau x` ebceqcbxa i`waiaoxu g dxu x`xbc ibvlax wbcqa/ibdoxbdoah òct òa doha~ xnbx {bu Bcc Unbva ]vdea Doha~ qoxdc2=xn @ex`fav#2441 / O`{ EUA nbu5 dohdeau do xna uxèl a~enboka/ Dohdeau bva Bcc Unbva ]vdea Doha~ .EBU]D$# EUA Uacaexd.EUA5=$ boh EUA Uacaexdwa Ebxak`vdau— Doha~ .EUE^$/

.U`qvea: {{{/eua/eì/fh$

5/8 Uxvqexqva `g xna Eb}dxbc Ibvlaxu do Fbokcbhaun

Eb}dxbc ibvlaxu do Fbokcbhaun bva xna `xnav }bvx `g xna e`qoxvt—u gdoboedbc ibvlaxu {nden du bkbdo ebfa hdwdhah dox` x{` fv`bh uakiaoxu: .b$ Oò)uaeqvdxt uakiaox boh .f$ uaeqvdxt uakiaox/ F`xn `g xnai x`kaxnav haxavidoa xna bxiù}nava `g xna eb}dxbc ibvlax/

]vdibvt ibvlax du xna ibvlax g`v uaeqvdxdau {nden eìa gdvux xdia do xnaibvlax xnv`qkn Dodxdbc ]qfcde @ggavdoku .D]@u/ Eì}bodau ebo duuqa oa{ uaeqvdxdau kaxxdok }aviduudò gvì xna ibvlax vakqcbx`vu/



22

B ibvlax {nava dowaux`vu }qvenbua uaeqvdxdau `v buuaxu gvì `xnav dowaux`vbxnav xnbo gvì duuqdok eì}bodau xnaiuacwau/ Uaeqvdxdau ebo fa u`ch `v f`qknx gvì xnibvlax/ Do b uxèl a~enboka iùx `g xna xvbhdok gdkqvau eìau gvì xna uaeòhbvt ibvlax/Xndu ibvlax du bcu` hdwdhah bee`vhdok x` dxu hdggavaox xvbhdok enbvbexavduxdeu

[dxndo xna uaeòhbvt ibvlaxu xnava bva bkbdo g`qv hdwdudòu:

Douxvqiaoxu bva xvbhah ò xndu ibvlax do o`vibc w`cqia {nden du ebccah c`xunbva/

Gdoboedbc Ibvlaxu

Iòat Ibvlaxu Eb}dxbc Ibvlaxu

EìiavedbcFbolu

OFGDuOò)Uaeqvdxt

UakiaoxUaeqvdxt

Uakiaox

FUF FUVU DEF ]vdibvtIbvlax

UaeòhbvtIbvlax

HUA EUAFUF ― Fbokcbhaun Undc}b Fbol

FUVU ― Fbokcbhaun Undc}b Vdo Unboknbuxnb

DEF ― Dowauxiaox E`v}`vbxdò `g Fbokcbhaun

OFGD ― Oò)Fboldok Gdoboedbc Douxdxqdò

Gdkqva 2: Uxvqexqva `g xna gdoboedbc ibvlaxu do Fbokcbhaun



26

Xvbhdok du hòa do o`vibc w`cqia qohav e`v}`vbxa bexdòu boh iqux fa uaxxcahdo68 n`qvu/

Do xndu ibvlax fqcl w`cqia g douxvqiaoxu bva xvbhau xnv`qkn }del ' gdcc fbudu/

@hh c`x vagavu x` b rqboxdxt `g unbvau xnbx du cauu xnbo ibvlax c`x/ @hh c``g bcc douxvqiaoxu bva xvbhah xnv`qkn }del ' gdccu do xndu ibvlax/ Fbudebcct `hh c`xu kaoavgvì fòqu boh vdknxu duuqau/

5/1 Uaxxcaiaox ' Ecabvdok

Uaxxca `g }vdea boh xvbougav `g uaeqvdxdau du hòa xnv`qkn bqxìbxah u`gx{bva }cbxg`vi a/k/ .Xna Acaexvòde Uaeqvdxdau Bvendxaexqva$ do HUA/ Xna Ecabvdok boh Uaxxcaiaox i`hqca }v`wibobkaiaox `g xvbha gvì xna }`dox `g aoxvt dox` xna Uaxxcaiaox ]``c xvbha hbxbfbua qoxdc dx nbfaao hacdwavah# uaxxcah boh vai`wah gvì xna Uaxxcaiaox ]``c/ Dx eòuduxu `g xnvaa ibj`v fqudo}vèauuau/

2/ Xvbha do ]qfcde# Fcèl ' @hh)c`x ibvlax nbu x{`hdggavaox uaxxcaiaox }avd`hu g`v B# F# K# O ' Z ebxak`vdau unbvau boh Uaxxcaiaox du a~

UaeòhbvtIbvlax

]qfcdeIbvlax

U}`xIbvlax

Fcèl Ibvlax

@hh C`xIbvlax

Gdkqva 6: Xt}au `g Uaeòhbvt Ibvlax



25

xnv`qkn uxèl a~enboka ecabvdok n`qua/ Nava xna uaxxcaiaox }avd`h du ubia g`v B# F# K ' ON`{awav# g`v Z ebxak`vt unbva uaxxcaiaox }avd`h du hdggavaox/

b$ Uaxxcaiaox du hòa xnv`qkn HUA `v EUA ecabvdok n`qua ò

X, 2.}bt do hbt$ boh X,5 .}bt `qx hbt$/

f$ Uaxxcah ò xna fbudu `g X,2 .}bt do hbt$ boh X,4 .}bt `qx hbt$/

6/ Uaxxcaiaox }avd`h du ubia g`v bcc ebxak`vtunbvau xvbhah do xndu ibvlax xnv`qkn ecabvdok n`qua xnbx du X,= .}bt do hbt$# X,2 .}bt `qxhbt$/

5/ G`vadko fqtavu boh uaccavu uaxxca xnadv xvboubexdò fax{aaoxnaiuacwau dow`cwdok equx`hdbo fbol/ Dx du }vèauuah {dxndo X,1 .}bt do hbt$ boh X,7 .]bt`qx hbt$/

Ena qa .Do gbw v g HUA

X,2

Uaeqvdxdau

X,5X,5

UaeqvdxdauEna qa .Do gbw`v g HUA

Hbt X: F`xn Fv`lavu ' HUA Udko

Uaccdok Fv`lav Fqtdok Fv`lav

HUA EcabvdokN`qua

Uaxxcaiaox g`v B# F# K ' O Ebxak`vt

Ena qa .Do gbw v g HUA

X,2

Uaeqvdxdau

X,4X,4




HUA EcabvdokN`qua

Uaxxcaiaox g`v Z Ebxak`vt

Ena qa Do gbw v g HUA

X,=

Uaeqvdxdau

X,2X,2

UaeqvdxdauEna qa Do gbw v g HUA



HUA EcabvdokN`qua

Uaxxcaiaox g`v U}`x Ibvlax

Ena qa .Do gbw`v g HUA

X,1

Uaeqvdxdau

X,7X,7




HUA EcabvdokN`qua

Uaxxcaiaox g`v G`vadko Xvbhavu

Gdkqva 5: Uaxxcaiaox Iaenbodui



28

5/7 Uaeqvdxdau boh A~enboka Eìiduudò .UAE$

Xna Uaeqvdxt boh A~enboka Eìiduudò .UAE$ {bu g`viah ò>xn Jqoa#2445 qohav xna Uaeqvdxdauboh A~enboka Eìiduudò Bex#2445 {dxnb wda{ x` }v`xaex dowaux`v—u doxavaux# di}v`waiaox `g uaeqvdxdau ibvlaxu# b}}v`}vdbxa duuqboea `g uaeqvdxdau boh }v`}av kqdhdok `g uaeqvdxdau cb{u/

di}`vxbox `vkbodzbxdòu boh doxaviahdbvdau qohav uq}avwdudò `g UAE bva HUA# EUA# EHFCfv`lavu# iavenbox fbolu boh buuax ibobkaiaox eì}bodau/ Lnbcah .6=22 $

Xna eìiduudò du eòuduxu `g b enbdvibo boh g`qv iaifavu/ Xna Enbdvibo ' iaifavu `g uaeqvdxta~enboka eìiduudò bva b}}`doxah ft xna k`wavoiaox `g Fbokcbhaun/ UAE du hdvaexct eòoaexah{dxn xna idoduxvt g Gdoboea boh nbu vdknxu x` uq}avwdua bcc g uaeqvdxdau cb{u ' vakqcbxdòu/ Bx` Uaeqvdxdau boh A~enboka @vhdoboea#2474 UAE nbu faao ai}`{avah x` eòxv`c awao uacg)vakqcbx`vtdouxdxqxdòu g`v douxboea Uxèl A~enbokau/

Xna ibdo gqoexdòu `g UAE bva g`cc`{dok:

Vakduxavdok boh vakqcbxdok xna fqudoauu `}avbxdò `g HUA# EUA# uxèl fv`lavu# iavefbolu# qohav{vdxavu# unbva xvbougav bkaoxu# }`vxg`cd` ibobkavu boh `xnav doxaviahdbvda

Hawac`}dok dowaux`vmu ahqebxdò# }v`wdhdok xvbdodok g`v doxaviahdbvdau# a~aeqxdvauabven boh }qfcdundok xnùa/

Eòxv`ccdok awavt bqxn`vdzah uacg)vakqcbx`vt `vkbodzbxdòu x`` Dou}aexdok boh eòxv`ccdok gvbqhqcaox boh qogbdv xvbhdok do uaeqvdxt ibvlaxu Bqhdxdok boh dowauxdkbxdok `g bot doxaviahdbvdau `v uxèl a~enbokau E`ccaexdwa dowauxiaox uenaia vakduxavdok ' eòxv`ccdok/

5/; Eaoxvbc Ha}ùdx`vt Fbokcbhaun Cdidxah .EHFC$

EHFC {bu doe`v}`vbxah bu b }qfcde cdidxah eì}bot o6=xn Bqkqux#6===/ Fag`va xna auxbfcduniaox`g EHFC }vèauu `g xvbougavvdok boh hacdwavdok `{oavund} {bu x`` caokxnt boh vdult/ Xauxbfcduniaox `g EHFC bhhah wbcqa x` xna uxèl ibvlax `g Fbokcbhaun boh bxxvbexah i`va dowauxau}aedbcct g`vadkoavu/ Bgxav di}caiaoxdok bqxìbxah xvbhdok utuxai do HUA ' EUA boh doxv`hqeeaoxvbc ha}ùdx`vt utuxai# xna uxèl ibvlax `g Fbokcbhaun faebia i`va aggaexdwa boh evahdfcax` xna dowaux`vu/ .Fa}bvd ' I`ccdl# o/h/$

Xna `{oavu `g EHFC bva HUA# EUA# fbolu# Dowauxiaox E`v}`vbxdò `g Fbokcbhaun boh uìa `xngdoboedbc douxdxqxdò/ Xna }bvxded}boxu `g EHFC bva ebccah Ha}ùdx`vt ]bvxded}box .H]$/enbvkau gaau gvì dxu }bvxded}boxu g`v hdggavaox uavwdeau }v`wdhah ft EHFC/

Xna gqoexdòu `g EHFC bva kdwao fac`{:

@}avbxa boh ibdoxbdo xna Eaoxvbc Ha}ùdx`vt Utuxai .EHU$ `g Acaexvòde F``l/ Vae`vhdok boh ibdoxbdodok uaeqvdxdau bee`qoxu boh vakduxavdok xvbougav `g uaeqvdxdau

Enbokdok xna `{oavund} {dxn`qx bot }ntudebc i`waiaox `v aoh`vuaiaox `g eavxdgdebxau Uq}avwdudò `g Ha}ùdx`vt }bvxded}box bexdwdxdau



21

]v`wdhdok hdggavaox dowaux`v uavwdeau doecqhdok }v`wdhdok b }cbxg`vi g`v xna uaeòhbvibvlax xvbhdok `g Xvabuqvt Fdccu boh K`wavoiaox Fòhu duuqah ft xna Fbokcbhaun Fbol/

8/ Eb}dxbc Ibvlax Evbun `g 2447

8/2 Fbelkv`qoh

Xna gdvux eb}dxbc ibvlax gdbue` do Fbokcbhaun èeqvvah do O`waifav7#2447 / 21 tabvu bgxav xnbx# xnae`qoxvt bkbdo a~}avdaoeah bo`xnav uxèl ibvlax hafbeca do6=2=)6=22 / N`{awav# xna ueaobvd` g xnauax{` ibvlax evbunau du eì}caxact hdggavaox/ Fbel do2447 # xna oqifav `g F@ bee`qoxu {bu òct5==#===/ Hqvdok xnbx }avd`h }b}av unbvau bva quah x` fa u`ch do gvòx `g HUA boh dx {bu o`x abutdowaux`vu x` dhaoxdgt gbla boh `vdkdobc unbvau/ Xna ibvlax {bu ao`qkn hawac`}ah x` kbdo eògdh`g dowaux`vu/ Xnava {bu o` bqxìbxah xvbhdok utuxai# uqvwadccboea {bu o`x ao`qkn uxvòk bohedveqdx fvablavu bu {acc bu doxavobxdòbc }v`xaexdòu/ .Nùubdo#6=22 $

Gvì 2442 x` xna aoh `g 2441 HKAO }vdea doha~ kbdoah ft254/5 ! boh vabenah x>58 }`dox/ Fqxdo2447 xna ibvlax a~}avdaoeah hvbibxde enboka boh }qunah xna }vdea doha~ q} ft55; !/ HKAODoha~ vae`vhah ndkn kv`{xn gvì Jqct boh ux``h bx578>/; }`doxu `v ft6>=/1! ò 1xn O`waifav2447 /

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27

Endxxbkòk Uxèl A~enboka a~}avdaoeah xna ubia enboka boh kva{ ft61>!/ Endxxbkòk uxèla~enboka doha~ doevabuah gvì8=4 x` 221; }`doxu do2447 {dxndo òa tabv xdia/ .Fa}bvd ' I`ccdl#o/h/$

Ibvlax {bu kv {dok gbux awavt hbt do xnbx f`ì }avd`h/ G`v# a~bi}ca xna oa{u }ùxah ft f`xn HUAboh EUA xnbx xna ibvlax eb}dxbcdzbxdò vabenah (6fdccdò {nden du arqbc x`6=! `g x`xbc KH]/ Bxxna }`dox {nao xna ibvlax k`x `wavnabxah# xna k`wavoiaox x``l uxa} ft uaccdok uxbxa `{oahdouxdxqxdòu boh ft kdwdok DEF XL/6 fdccdò x` fqt unbvau boh uq}}`vx xna ibvlax/ N`{awav# xna uxa}ub}}abvah gqxdca/ .Nùubdo#6=22 $

@o O`waifav7# xna doha~ cùx `wav655 }`doxu boh HKAO doha~ hv`}}ah x` dxu c`{aux }`dox bx41; do B}vdc244; / HUA Kaoavbc ]vdea doha~ cùx bciùx;= ! gvì dxu ndknaux }`dox `g O`waifav2447 / Xnao doha~ eòxdoqah x` haevabua g`v oa~x; tabvu qoxdc B}vdc6==8 / Hqvdok xndu còk xdia }avd`hHKAO Doha~ uachì evùuah2=== }`dox `g xna doha~/ .Ibouqv#6=2=$

8/6 Vabuòu

Xnava bva xnava ibdo vabuòu g`v xna awaoxu `g 2447 / Xnùa bva o`xah facc`{:

Xna uxèl }vdea ibod}qcbxdò do @ex`fav2447 {bu xna {`vl `g b utohdebxa eòuduxdok `g uìa g`vadko }`vxg`cd` ibobkavu# ga{ fv`lavu boh u}òu`vu `g ga{ cduxah eì}bodau/ Xnv`qknxnadv aohabw`vu# xnat {ava uqeeauugqc x` doevabua bcc unbva }vdea doha~ g HUA gvì2=== }`doxux` 57== jqux do ud~ iòxnu/ Ga{ g`vadko ' cèbc dowaux`vu xnbx nbh doudha dog`vibxdìbha nqka }v`gdx boh b c`x `g kaoavbc dowaux`vu }bdh nabwdct/ .Bcbi boh `xnav# o/h/$

Bo`xnav ibj`v vabuò {bu xna gbdcqva `g ibvlax vakqcbx`vu/ Hqvdok Jqoa x` O`waifav2447 #Uxèl a~enbokau hdh o`xndok x` xbelca xna hvbibxde }vdea doevabua g cduxah eì}bodau/ Fqfg`viah hqa x` bfo`vibc haiboh `g uaeqvdxdau ft oa{ dowaux`vu {nava xna oqifavu `g cduxahuaeqvdxdau {ava wavt ga{/ Xna vabuò `g nqka dogcq~ `g dowaux`vu {bu }`cdxdebc uxbfdcde`qoxvt boh fvdokdok eògdhaoea do dowaux`vmu idoh/ .Bgv`z/6==7$

Bo`xnav }v`fcai {bu xna hacdwavt wavuqu }btiaox .HW]$ utuxai `g xvbhdok quah x` bcc`{fqtav)uaccav x` uaxxca xnadv xvboubexdòu fax{aao xnai {dxn`qx uxèl a~enboka }bvxded}bIbot fv`lavu habcavu quah dx bu b x``c x` un`{ gbla xvbhdok x` doevabua haiboh g unbva gv ixna kaoavbc dowaux`v—u udha/ Bee`vhdok x` Fbokcbhaun Fbol bobctudu xnbx xnava {bu boqobqxn`vdzah Lavf ibvlax eòuduxdok `g `wav61#=== dowaux`vu `qxudha xna uxèl a~enboka{nava uaeqvdxdau {ava xvbhah bx b wavt ndkn }vdea/ I`va`wav# UAE e`qch o`x nbohca xna eg`v dxu hagaexdwa dogvbuxvqexqva/ [abl vakqcbxdòu boh uqvwadccboeau e`qch o`x iòdx`v ibod}qcbx`vu boh ibvlax doxaviahdbvdau/ Awao dog`vibxdò doaggdedaoet# bvxdgdedbc gduxbxaiaoxu eavxdgdah ft enbvxavah bee`qoxboxu# gbcua dog`vibxdò boh vqi`v {ava `xndi}`vxbox gbex`vu xnbx `wavnabxah xna ibvlax boh fqvux xna fqffca/ .Bgv`z#6==7$



2;

8/5 Vakqcbx`vu— Vau}òuau

UAE g`viah b }v`fa eìidxxaa g`v dowauxdkbxdok boh gdohdok ibod}qcbx`vu fandoh xna uxèl ibvlaxgdbue` ò67 xn Haeaifav#2447 / @o6; xnIbven#244; # xna eìidxxaa }qfcdunah b va}`vx bggdvidok boqifav `g cduxah eì}bodau# dowaux`vu boh fv`lavu {n` {ava do xna ibvlax ibod}qcbxdò/ GdobcctE`qvx duuqah bvvaux {bvvboxu bkbdoux56 }a`}ca do; fv`lavbka gdviu#> cduxah eì}bodau/ UAE bcu`gdcah21 unbva)uebi ebuau do e`qvx/ .Bgv`z#6==7$

N`{awav# dx x``l x`` còk g`v xna k`wavoiaox boh ibvlax vakqcbx`vu x` vaux`va xna ibvlax eòhdxdòuBu bo bgxavibxn `g xna eb}dxbc ibvlax evbun `g 2447 # dowaux`v cùx xnadv gbdxn ò xna ibvlax/ @o6=xn O`waifav#244; # k`wavoiaox cbqoenah Eb}dxbc Ibvlax Hawac`}iaox ]v`kvbi .EIH]$ x` ebci xnaeb}dxbc ibvlax# boh bxxvbex i`va cèbc boh g`vadko dowaux`vu/ Bgxav xnbx bh`}xdok bqxìbxah xutuxai boh auxbfcduniaox g EHFC doevabua xna evahdfdcdxt g eb}dxbc ibvlax x` xna dowaux`vu/ .F' I`ccdl# o/h/$

Xna „Fqcc Vqo— `g 2447 cabhah x` uìa }ùdxdwa vag`viu g`v xna ibvlax/ Dx evabxah uxvòkav uqvwadccboboh di}v`wah vqcau vacbxdok x` }qfcde duuqa# vdknxu duuqa# berqdudxdò# iavkavu boh uqvwauaeòhbvt ibvlax faebia i`va bexdwa xnbo fag`va/ Xna UAE du bh`}xdok uxvdex vqcau boh kqdhacdxvbhdok edveqdx fvablavu boh doxavobxdòbc uxbohbvh uqvwadccboea x` }v`xaex dowaux`v vdknxgbdv }cbt/ .Vbundh#6==>$

1/ Eb}dxbc Ibvlax Evbun `g 6=2= ― 6=22

1/2 Vabuòu g`v Ibvlax Q}uqvka

Uawavbc gbex`vu eòxvdfqxah x` xna evabxdò `g xna fqffca bgxav xna acaexdò `g 6==; / Xnat bva cduxahfac`{/

Do#6==; # Uxbxa `g aiavkaoet {bu haecbvah ft b idcdxbvt fbelah vakdia do Fbokcbhaun `{dokx` xna }`cdxdebc q}nabwbc/ Hqvdok idcdxbvt)fbelah vakdia dowauxiaox do vabc uaex`vu bu {GHD haevabuah fqx xna dogc`{ `g g`vadko vaidxxboea doevabuah/ Dowaux`vu xvdah xbcxavobxdwa dowauxiaox uaex`v x` dowaux xnadv ubwdoku boh g`qoh uxèl ibvlax bu bo bxbcxavobxdwa/ .Lnbcah#6=22 $

Bee`vhdok x` E]H .6=22 $# xna x`xbc oqifav `g F@ Bee`qox n`chavu ò6=xn Haeaifav#6=2= vabenah x5/62 idccdò xn`qkn xna oqifav {bu2/61 idccdò do Haeaifav6==4 / Iùx`g xnaua oa{ dowaux`vu hò—x nbwa ao`qkn lo`{cahka bf`qx xna uxèl ibvlax fqx dowaux xnadviùx `v bcc ubwdoku do xna ibvlax/65> fv`lavbka n`quau `}aoah14= fvboenau bx56 hduxvdexu/Bu E]H .6=22 $ g`qoh# doxavoax)fbuah xvbhdok `}avbxdò# `}aodok fvboenau `g fv`lavbkan`quau bevùu xna e`qoxvt# abut beeauu x` xna ibvlax dog`vibxdò# bvvbokdok b e`qoxvt{dh+Unbva Iacb .gbdv$+ bva xna gbex`vu g`v doevabudok dowaux`vu/ Fqx uq}}cdau `g oa{ uxnv`qkn D]@u {ava o`x ao`qkn x` enbua nqka eb}dxbc `g x`` ibot dowaux`vu do xna ibvlax/



2>

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Xndu ibha b nqka dogcq~ g cdrqdhdxt do xna unbva ibvlax/ Dx {bu uaao xnbx xna hbdct xvboudo xna unbva ibvlax {bu ò bo bwavbka gvì XL/6=#=== x` 5=#=== idccdò do6=2= boh xnagdkqva {bu h`qfca eì}bvdok x`6==4 / .Vbdub#6=22 $

Hqvdok xnbx }avd`h# Fbokcbhaun fbol bh`}xah a~}boudòbvt iòaxbvt }`cdet x` bcc`{ xnafqhkaxbvt xbvkax `g ;)> ! `g KH] kv`{xn boh x` uq}}`vx dowauxiaox do xna ndkn dogcbxdò}avd`h/ Fbokcbhaun Fbol }akkah Xblb bkbdoux h`ccbv x` uq}}`vx a~}`vxu/ Bu Xblb nbh faaqohavwbcqah dx ibha a~eauu kv`{xn do iòat uq}}ct/ B fdk }`vxdò `g xndu a~eauu cdrqdhdxtnbh kòa x` xna uxèl ibvlax fqx xnava {ava wavt ga{ unbvau do xna ibvlax/ Xna }`cdet xnbx

{bu bh`}xah ft FF x` kv`{ aeòìt ft doevabuah a~}`vxu ' dowauxiaox awaoxqbcct idukqdhahboh aohah q} g`vidok xna i`xnav `g bcc fqffcau/ Xnao k`wavoiaox bkbdo gqaccah xna fqffcabgxav }av)idxxdok {ndxaodok g fcbel iòat xnv`qkn xb~ fvablu boh uenaiau/ .Vbnibo#6=22 $

Xna dobfdcdxt `g UAE x` iòdx`v xna ibvlax eòhdxdòu }v`}avct bcu` gqacah xna ao`vi`qufqffca/ Hqa x` xna }``v iòdx`vdok ' ibvlax uqvwadccboea unbva }vdeau `g Z Ebxak`vtEì}bodau boh uibcc eì}bodau doevabuah hvbibxdebcct/ I`va`wav# uìa dodxdbxdwau xblao ftUAE {ava o`x aggaexdwa boh enbokah hdvaexdwau gvarqaoxct uqen bu< dx enbokah hdvaeibvkdo c`bo vbxd`24 xdiau/ .Vbdub#6=22 $

1/6 B Fvdag Bee`qox `g xna Xdiacdoa `g xna Ndux`vde Gbcc

Xdiacdoa `g ndux`vdebc gbcc `g xna evbun nbu faao hdwdhah dox` x{` uaexdòu {nden bva Haeaifav6=2= boh Jboqbvt6=22 /

Haeaifav 6=2=

Xna cbux kc`vd`qu hbt g`v xna dowaux`vu `g eb}dxbc ibvlax do6=2= {bu1xnHaeaifav/ @o xnbx hbt HUAKaoavbc Doha~ .HKAO$ kbdoah dxu bcc)xdia ndknaux># 42>/12 }`dox ' fv`la bcc `ch vae`vhu `g HUAxqvo`wav ft Xblb56/1= fdccdò/

Do6=2= # f`xn UAE boh Fbokcbhaun Fbol x``l b oqifav `g dodxdbxdwau x` laa} xna ibvlax qohaveòxv`c/ Fqx do Haeaifav f`xn FF ' UAE enbokah ibot g xnadv }vawd`qu hdvaexdwau boh b}}cdah oai`va/ @o 7xn Haeaifav#6=2= UAE doxv`hqeah b hdvaexdwa ubtdok xnbx fqt `vhavu {dcc fa }avg`viahbgxav aoebuniaox `g Dowaux`vmu enarqa/ @o xna g`cc`{dok hbt bo`xnav hdvaexdwa ebccah –oaxxdokgbedcdxdau’ {bu b}}cdah/ Xndu dohdebxau xnbx o` dowaux`v {dcc fa bfca x` }qvenbua uaeqvdxdau bkbdou

ubca }vèaahdoku `g bot `xnav uaeqvdxdau hqvdok xna uaxxcaiaox ' ecabvboea }avd`h/ Fqx f`xn hdva



24

`g 7 xn ' ; xnHaeaifav {ava eboeaccah o>xnHaeaifav/ Xna vabuò g eboeac)cdok xnaua hdvaexdwau {bub udkodgdebox gbcc `g unbva }vdeau ò>xnHaeaifav/ .Fnqdtbo#6=22 $

UAE enbokah hdvaexdwa `g ibvkdo c`bo vbxd` ft doevabudok dx gvì2:=/1 x` 2:2 ò 25 xn Haeaifav bohcbxav dx {bu bkbdo ndlah x`2:2/1 ' 2:6 faebqua `g gvaa gbcc `g unbva }vdeau/ .Fnqdtbo#6=22 $

Fbokcbhaun Fbol k`x b eì}cbdox xnbx Fbolu bva dowauxdok iòat do xna uxèl ibvlax gvì xnadvvauavwa/ @o xna2uxhbt `g Haeaifav FF uaox1= xabiu do hdggavaox fbolu `g Hnblb ' Endxxbkòk x`dowauxdkbxa boh g`qoh uìa fbolu do uqen dvvakqcbvdxdau/ Bkbdo o Haeaifav6=2=# FF duuqah hdvaexdwaux` {dxnhvb{ xna dccakbcct dowauxah dohquxvdbc c`bou boh x` doevabua Uxbxqx`vt cdrqdhdxt VbxdEbun Vauavwa Vbxd` .EVV$/ @o21 xn Haeaifav# FF doevabuah EVV boh UCV ft=/1 }aveaox bohdoevabuah x`24 ' 7 }aveaox/ Bo`xnav di}`vxbox hdvaexdwa dodxdbxah ft FF {bu {dxnhvb{bc `g dccakdowauxah dohquxvdbc c`bou ft Haeaifav52 #6=2= / Bu b c`x g xna vauavwah iòat {bu dowauxah do eb}dxbcibvlax# fbolu uxbvxah uaccdok unbvau boh {dxnhvb{dok xnbx iòat gvì xna ibvlax/ Ft xna xdiadowaux`vu faebia }bodelah/ X` nbohca xna hdubuxv`qu ' buuqva xna }bodelah dowaux`vu FF a~xaohahabhcdoa g`v uqfidxxdok boh bhjquxdok c`bou/ G`v xna iavenbox fbolu xna habhcdoa {bu Jboqbvt21#6=22 boh g`v xna eìiavedbc fbol Gafvqbvt21 #6=22 / .Vbdub#6=22 $

Bu Haeaifav du xna ecùdok }avd`h g`vi bot `vkbodzbxdòu# Douxdxqxdòbc dowaux`vu doecqhdok gdouxdxqxdòu uxbvxah uaccdok unbvau gvì xna fakdoodok g Haeaifav x` un`{ ndkn vaxqvo o dowabx xnadv fbcboea unaax/ Bu xna douxdxqxdòu ' fbol uxbvxah uaccdok xnadv unbvau gvì xna fakdoHaeaifav xna xqvo`wav `g HUA {bu xna ndknaux awav do dxu ndux`vt ò1xn Haeaifav/ .Vbdub#6=22 $

24 xnHaeaifav {bu b ndux`vdebc hbt `g xna gdoboedbc tabv6=2=)22 do Fbokcbhaun uxèl ibvlax/ @o xnduhbt HUA {dxoauuah dxu fdkkaux òa hbt gbcc do11 tabvu ndux`vt qoxdc xna hbxa {dxn cùdok112/;7 }`doxu`v 7/;2 }aveaox/ Xna cùdok doha~ {bu awao ndknav xnbo6>8/;> }`doxu `v5/56 }aveaox `g 26 xn

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Jboqbvt 6=22

Gvì 5vh Jboqbvt#6=22 # Uxèl }vdeau uxbvxah x` gbcc bu dowaux`vu nbh xna dog`vibxdò `g òk`docdrqdhdxt evdudu do xna gdoboedbc ' oò)gdoboedbc douxdxqxdòu xnbx cdidxdok xna ibvkdo c b4xn Jboqbvt HUA Kaoavbc .HKAO$ Doha~ haecdoah ft7== }`doxu boh bcc dohdeau haecdoah oabvct;/;1

}aveaox/ @o2=xn Jboqbvt Hnblb Uxèl A~enboka Kaoavbc .HKAO$ Doha~ cùx ft77= }`doxu `v4 }aveaox ' Endxxbkòk Uxèl A~enboka Uacaexdwa .EUA$ Doha~ haecdoah ft 428 }`doxu `v7/> }aveaox{dxndo1= idoqxau `g xvbhdok/ EUA Bcc Unbva ]vdea Doha~ .EBU]D$ ux``h bx24626/58 cùdok ft2#547/62 }`dox # {nden du7/;; }aveaox/ EUA Uacaexdwa Ebxak`vdau Doha~ .EUE^$ cùx428 }`doxu v7/>; }aveaox boh EUA)5= Doha~ bcu` cùx284=/>5 `v >/6> }aveaox/ Dx nbh fv`lao bcc }vawd`qu vae`vhu `g haevabudok doha~/ Bgxav xnbx Uaeqvdxt ' A~enboka Eìiduudòu ebccah g`v bo aiavkaoet iaaxdok {dxnFF boh ux`} xvbhdok bx f`xn Hnblb ' Endxxbkòk Uxèl A~enbokau Dowaux`vu ebia `qx do xna uxv{dxn }vèauudòu boh haiòuxvbxah bkbdoux gvaa gbcc `g Unbva doha~ do f`xn f`qvuau bu {auqu}aoudò `g xvbhdok/

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62

Xna K`wavoiaox# Eaoxvbc Fbol ' UAE x``l diiahdbxa bexdòu g`cc`{dok xna x{` hbtu eòuaeqxdwandux`vdebc gbcc g uxèl }vdeau x` u``xna xna ibvlax/ Bu b vauqcx# vae`wavt {bu dodxdbxah {dxn doufqtavu d/a/ iavenbox fbolu# uxbxa)`{oah fbolu ' oò)gdoboedbc douxdxqxdòu/ Douxdxqxdòbc fqtavubulah o`x x` uacc unbvau vbxnav x` fqt/ Fbokcbhaun Fbol }qunah iòat dox` xna ibvlax bu cdrqdhdxuq}}`vx boh va}`/ HKAO ibha xna cbvkaux kbdo do xna ndux`vt `g Fbokcbhaun ò22 xn Jboqbvt ftvae`wavdok21/7 !/ .En`{hnqvt# 6=22 $

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66

N`{awav# ò2>xn Jboqbvt# xna doha~ uxbvxah x` haecdoa boh xna ibvlax ndx xna c`{aux xqvo`wav do oiòxnu {nden du XL/>/84 fdccdò/ Xnqu# dowaux`vu ebia `qx do xna uxvaax òea bkbdo boh uxbvx}v`xauxdok bkbdoux gvaa gbcc `g unbva }vdeau/ UAE bulah HUA ' EUA x` nbcx xvbhdok g`v xna6oh xdia{dxndo> hbtu/ HUA Kaoavbc Doha~ .HKAO$ haecdoah ft685 }`doxu v5/64 }aveaox boh EUA UacaexdwaEbxak`vt Doha~64> }`doxu bgxav b xvbhdok `g bv`qoh6/8 n`qvu/

Xn`qkn uxa}u {ava xblao boh b}}cdah ft xna k`wavoiaox# FF boh vakqcbx`vu x` di}v`wa xna ibvlaxeòhdxdòu boh fvdok xna dowaux`vu— eògdhaoea ibvlax doha~ haecdoah nabwdct o6=xnJboqbvt bu HKAOucd}}ah ft144/;; }`doxu `v>/7> }aveaox/ Gvì67 xn `g Jboqbvt xnava {bu bo doevabua xvaoh `g doha~/Fqx gdobcct Doha~ ux``h bx xna c`{aux }`dox {nden du11;4 gvì ; xn x` 28 xnGafvqbvt/ .Lnbcdh#6=22 $

1/5 V`cau `g Hdggavaox Ibvlax ]bvxded}boxu hqvdok xna Ibvlax Evbun

Dowauxdkbx`vu# bobctuxu boh aeòìdeu nbwa rqauxdò xna v`cau `g hdggavaox ibvlax }bvxded}bog`vidok boh hdggqudok uxèl }vdea fqffca/ Do xna g`cc`{dok uaexdòu# xna v`ca `g hdggavaox ib}bvxded}boxu hqvdok xna ibvlax evbun bva hduequuah/

1/5/2 V`ca `g Fbokcbhaun Fbol do Eb}dxbc Ibvlax Evbun

Bu b iòaxbvt bqxn`vdxt g xna e`qoxvt# Fbokcbhaun Fbol }cbtu udkodgdebox eòxvdfqxdò do enboogqohu do xna wbvd`qu uaex`vu `g xna aeòìt/ Xnavag`va xna v`ca `g eaoxvbc fbol do uxèl ibvlax d

`fwd`qu/Do xna vaeaox uxèl ibvlax evbun# FF {bu bx xna eaoxav }`dox g bcc hafbxa/ Xna vabuòu `g vaeaox evbunibt cdau do xna rqauxdò `g {naxnav xna iòaxbvt }`cdet vau}òua {bu b}}v`}vdbxa hqvdok xna }avd`g uxèl ibvlax vdua bu {acc bu hqvdok xna xdia `g uqfuarqaox evbun/

Bx xdia `g ibvlax q}u{dok# eìiavedbc fbolu dowauxah nabwdct do xna eb}dxbc ibvlax x` eb}dxbcdzaxna `}}`vxqodxt/ Xndu nbu faao k`dok ò g`v b {ndca `wav cbux ga{ tabvu iùxct g`vi6==; {nao xnaidcdxbvt fbelah edwdcdbo ebvaxblav k`wavoiaox x``l }`{av do Fbokcbhaun/ I`va`wav# hqvdok xna ubxdia iavenbox fbolavu faebia xna lat }cbtav do xna uxèl ibvlax/ Qoh`qfxahct# bot }`cdedau xèòxv`c eìiavedbc fbol—u a~}ùqva x` xna uxèl ibvlax {dcc vauqcx udkodgdebox di}bex ò xna uxèlibvlax/

Havakqcbxdòu hqvdok xna cbux xnvaa x` g`qv tabvu gvì6==; bu dohdebxah ft b i`va xnbo66 }aveaoxvdua do iòat uq}}ct hqvdok xna }avd`h# uqvact nbwa nac}ah uxèl ibvlax x` vaibdo gc`bxdok hqvdxnaua hbtu/ Uqv}vdudokct# }avnb}u# Fbokcbhaun Fbol .FF$ {bu o`x iqen b{bva bf`qx fbolu+ a~}ùqvx` xna uxèl ibvlax# }v`fbfct faebqua fbolu }v`gdx gvì uxèl ibvlax dowauxiaox bu un`{o do xnadvfbcboea unaax uaaiah x` fa oakcdkdfca x` Fbokcbhaun Fbol/ Fqx {dxn xna hbdct g`cc { q} `g b vdk`v``}avbxdok }vèahqva ft xna eaoxvbc fbolu bf`qx xna bexdwdxdau `g eìiavedbc fbolu ibla xndua~}cbobxdò wavt obdwa/ Do gbex xnava {bu b {dhact nach }qfcde }avea}xdò xnbx fbolu {ava ibnbohuìa }v`gdxu gvì uxèl ibvlax dowauxiaox/ E`vvaex dog`vibxdò `g fboldok dohquxvt—u a~}ùqvax` xna uxèl ibvlax vaibdoah qolo`{o g`v qoa~}cbdoah vabuòu# {nden nbu faao b x`xbc k`wavoboeagbdcqva ò xna }bvx `g xna eaoxvbc fbol bu b uq}avwdu`vt bqxn`vdxt/



65

Fbokcbhaun Fbol fakbo x` eòxv`c eìiavedbc fbolu— a~}ùqva do xna uaeòh)nbcg `g 6=2=< {nao xnaBU]D `g HUA nbh vabenah x` bo bcbvidok cawac evùudok bcc xdia ndknaux cdidxu `g >=== }`doxu/N`{awav# iùx `g xna }`cdedau xblao ft FF uaaiah idub}}v`}vdbxa boh iduxdiah/ G`v douxboea#Fbokcbhaun Fbol bcc ò b uqhhao duuqah b }vècbibxdò xnbx ebccu g`v bcc fbolu x` ibdoxbdo xdowauxiaox do xna uxèl ibvlax arqdwbcaox x`2= }aveaox `g xnadv x`xbc ha}ùdx boh x` eòg`vi x` uqenhdvaexdwau ft Haeaifav#6=2= {dxn cauu xnbo b iòxnu vaibdodok# {nao do vabcdxt# xna vbxd` {bu iqenndknav xnbo2=!/ Uìa fbolu awao nbh bciùx7=! `g xnadv ha}ùdxu dowauxah do uxèl ibvlaxu/

Bhhdxdòbcct# Fbokcbhaun Fbol uqhhaoct doevabuah EVV gvì1/1 ! x` 7! boh UCV gvì 2>/1! x`24 ! boh ebcc g`v bo doevabua `g }bdh q} eb}dxbc evabxah bo a~xvb }vauuqva g`v eìiavedbc fboluvbdua xnadv cdrqdhdxt/ Dx }vì}xah b ubcau }vauuqva/ I`va`wav xndu iduxdiah iòaxbvt }`cboo`qoeaiaox bcu` ebux h`qfx ò xna }vawd`quct va}`vxah bi`qox `g a~eauu cdrqdhdxt do xna fboldouaex`v do FF/ Xnqu {dxnhvb{bc `g fbolu+ cbvka dowauxiaoxu gvì xna uxèl ibvlax b}}abvah x` fa xibdo vabuò g`v xna vaeaox evbun do xna uxèl ibvlax do Fbokcbhaun/

Fbokcbhaun Fbol idknx nbwa uìa bhhdxdòbc vabuòu fandoh xnùa haedudòu# uqen bu x` n`dogcbxdò# x` enbooac i`va evahdx x` xna vabc uaex`v# boh x` }v`xaex xna doxavaux `g xna fbol ha}ft cdidxdok xnai gvì vdult dowauxiaoxu/ Fqx uqvact xnava {bu xna }v`fcai `g xdidok/

1/5/6 V`ca g Douxdxqxdòbc Dowaux`vu do xna Eb}dxbc Ibvlax Evbun

B udkodgdebox }`vxdò `g dowaux`vu do xaviu `g dowauxiaox w`cqia bva douxdxqxdòbc dowaFbokcbhaun—u eb}dxbc ibvlaxu/ Xnaua douxdxqxdòbc dowaux`vu bva eòuduxdok `g eìiavedbc fboludouqvboea eì}bodau# iqxqbc gqoh eì}bodau# iavenbox fbolu# gdoboea boh dowauxiaox e`v}`vbxd`

axe/ N`{awav# eìiavedbc fbolu bva xna fdkkaux biòk xna douxdxqxdòbc dowaux`vu do HUA ' EUAib~diqi ebuau Haeaifav du xna bee`qoxu ecùdok iòxn g`v bcc `g xnaua wbvd`qu xt}a gdoboedbdouxdxqxdòu/ Bu iaoxdòah abvcdav# hqa x` uavd`qu uq}avwdu`vt cbeldok g`vi FF iùx `g xnaua gdodouxdxqxdòu au}aedbcct uenahqcah eìiavedbc fbolu nbwa `wavdowauxah do uxèl ibvlax fatòh xncakbc f`qohbvdau `g uxèl ibvlax a~}ùqva cdidx/ Cbxxav ò bu xna ecùdok hbtu g`v gdoboedbc beec`ìah oabvav iùx `g xnaua douxdxqxdòbc dowaux`vu xvdah x` ecùa `qx xnadv }ùdxdò x` vabceb}dxbc kbdo boh x` gqcgdcc xna vakqcbx`vt kqdhacdoau vakbvhdok xna ib~diqi cdidx `g uxèl iba~}ùqva {nden du2=! `g xna ha}ùdxu/ Xnqu eìiavedbc fbolu nbwa xblao xna v`ca `g uaccavu vbxnavxnbo fqtavu x` hvt q} cdrqdhdxt gvì xna ibvlax cabhdok x` ibvlax evbun/

Iavenbox fbolu bva bo`xnav cbvka }`vxdò `g douxdxqxdòbc dowaux`vu do xna eb}dxbc ibvlax/ Udieìiavedbc fbolu# iavenbox fbolu bcu` }bvxded}bxah do xna uxèl ibvlax x` vabcdza eb}dxbc kbdo xnadv dowauxiaox boh xnat bcu` u`ch xnadv unbvau bx xna aoh `g tabv# {nden nbh gqvxnav auebcbevdudu/ G`v a~bi}ca# do HUA iùx `g xna xdia ecdaoxu x``l c`bo gvì iavenbox fbolu bkbdoux xnadvarqdxt do `vhav x` bwavbka xnadv eùx `g dowauxiaox/ Udoea ibvlax {bu eòxdoq`quct gbccdok g`v ciòxnu boh xnùa dowaux`vu {n` bcvabht x``l c`bo gvì iavenbox fbol {ava do }v`fcai {dxn xnadvhafx x` arqdxt }ùdxdò bu un`{o do xnadv vau}aexdwa F@ bee`qoxu/ Bu }vdea eòxdoqah x` gbcc iavfbolu {ava g`veah x` g`veah ubca x` ubwa xnadv `{o dowauxiaox boh doxavaux doeìa do xnadv ecdaoxu—bee`qoxu/ Xnqu b enboka do ibvkdo varqdvaiaox eòxdoq`quct g`veah iavenbox fbolu x` xbla hdggavao}ùdxdòu {nden g`veah xna ibvlax x` faeìa awao i`va w`cbxdca/ B}bvx gvì xna eìiavedbc fboluboh b fdk oqifav `g bexdwa iavenbox fbolu# douqvboea eì}bodau boh iqxqbc gqohu nbwa bcu` }cbtahxnadv }bvx }vdibvdct do g`viqcbxdok boh xnao hdggqudok xna fqffca vabcdzdok xnadv unbva `g xna



68

1/5/5 V`ca g Uaeqvdxdau boh A~enboka Eìiduudò do xna Eb}dxbc Ibvlax Evbun

Do xna eb}dxbc ibvlax evbun# Uaeqvdxdau boh A~enboka Eìiduudò .UAE$ bu b uq}avwdu`vt bqx

nbu gbdcah xna ibvlax ft gvarqaoxct enbokdok vqcau boh vakqcbxdòu# di}ùdok oa{ }`cdedau vacbxibvkdo xvbhdok# doxavaux ò ibvkdo/

Tabvu `g vauabvenau nbwa un`{o xnbx# ibvkdo varqdvaiaox du òa `g xna iùx di}`vxbox x``cu gìbod}qcbxdok# ibdoxbdodok xna `qxeìa do xna uxèl ibvlax/ [ndca# hqvdok xna aoxdva cdga `g OT`vl Uxèl A~enboka .OTUA$# xna ibvkdo varqdvaiaoxu nbu faao enbokah òct66 xdiau/ DoFbokcbhaun# hqvdok xna }avd`h `g uxèl ibvlax evbun .Hae—2= ― Jbo—22 $# UAE enbokah xna ibvkdovarqdvaiaoxu24 xdiau/ B}bvx gvì xna gvarqaoet `g enboka# Uen{avx .24>4 $ un`{ah fbuah òai}dvdebc uxqhdau xnbx ibvkdo varqdvaiaoxu enbokau xaoh x` }vaeaha w`cbxdcdxt/ [dxn xndu ai}dvagavaoea gvì hawac`}ah ibvlaxu bevùu xna {`vch# b ecùav uxqht `g xna UAE—u v`ca do vaeaox uxèl

ibvlax evdudu do Fbokcbhaun uqkkauxu xnbx UAE bu b vakqcbx`vt f`ht nbu un`{o b x`xbc doeì}axado uxbfdcdzdok xna ibvlax ft qohavxbldok hdggavaox gbqcxt iabuqvau doecqhdok qudok dxu ivarqdvaiaox x``cu/

UAE fakbo xnadv a~}avdiaox ò ibvkdo c`bo vbxd` gvì xna eìiaoedok `g 6=2= evdudu/ @o2ux Gafvqbvt#6=2=# UAE enbokah xna ibvkdo c`bo vbxd` gvì2:2 x` 2:2/1 {nden evabxah i`va cawavbkahxvbhdok `}}`vxqodxdau/ Eòuarqaoxct# dowaux`vu fakbo x` xbla ibvkdo c`bo vaelcauuct/

@o5vh Gafvqbvt# UAE vaux`vah ibvkdo vbxd` x`2:2 / Bkbdo ò21 xn Ibven#6=26 # UAE doevabuah xnaibvkdo c`bo vbxd` x`2:2/1 boh xnao bkbdo vahqeah dx x`2:2 do Jqct boh2:=/1 do @ex`fav/ N`{awav#UAE gbdcah x` }v`wdha a~}cbobxdò g`v uqen vaeqvvaox vawdudòu/

Xna bf`wa kvb}n un`{u xna vacbxdòund} fax{aao ibvkdo vbxd` boh doha~ w`cbxdcdxt/ Xna }ùdrqbhvbox un`{ xna doevabua do ibvkdo vbxd` {ndca xna oakbxdwa rqbhvbox un`{u xna haevabua do i

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Enbokau do HKAO {dxn Ibvkdo Vbxd` Enbokau

Gdkqva 4: Enbokau do HKAO {dxn Enbokau do Ibvdo Vbxd`



61

vbxd`/ Gvì xna bf`wa kvb}n# {a ebo uaa xnbx awavt xdia UAE enbokah ibvkdo c`bo vbxdò xnava faao b eòudhavbfca haecdoa do xna doha~/ Dx du ecabv xnbx UAE {bu x`xbcct doeì}axaox do a~avebqxn`vdxt x` kqdha xna ibvlax do b }v`}av hdvaexdò qudok ibvkdo c`bo vbxd` x``c/

1/5/8 V`ca `g Fv`lavbka Gdviu do xna Eb}dxbc Ibvlax Evbun

Xnava bva eavxbdo vqcau boh eì}cdboea kqdhacdoau g`v fv`lavbka gdviu uax ft UAE x` aouqva ibvuxbfdcdxt boh x` nac} xna xvbhdok }vèahqva g`v dowaux`vu/ Hqvdok xna }avd`h `g ibvlax evdudufv`lavbka n`quau wd`cbxah xnùa vqcau boh kqdhacdoau/

Qohav xna uaeqvdxdau boh a~enboka cb{u# fv`lavbka gdviu boh iavenbox fbolu eboo`x kvbox c`bouxnadv ecdaoxu g`v }qvenbudok unbvau `g eì}bodau qohav „Z— ebxak`vt {nden kv`q}u c`{ }v`gdca unbvau/Fqx UAE g`qoh xnbx xna unbva }vdeau `g „Z— ebxak`vt eì}bodau vùa bfo`vibcct do vaeaox xdiau budowaux`vu f`qknx unbvau `g xna c`{ }v`gdca eì}bodau {dxn xna c`bou }v`wdhah ft xna uxèlfv`lavXna }vdea `g „Z— ebxak`vt unbvau nbh faeìa `wav}vdeah bu xna fv`lavbka n`quau eòxdoqah }v`wdhdokibvkdo c`bou x` xnadv ecdaoxu x` fqt unbvau `g xna duuqau qohav xna ebxak`vt/ Q}ò xna doxavwaoxxna UAE# xna ibvlax vabexah {dxn doevabuah uacc }vauuqva cabhdok x` gqvxnav bkkvbwbxdoudxqbxdòu/

I`va`wav# a~}avxu rqauxdòah xna xdidok `g xna UAE—u haedudò x` xbla bexdò bkbdoux65 fv`lavbkagdviu g`v wd`cbxdok xna kqdhacdoa eòeavodok kvboxdok c`bou g`v }qvenbudok „Z— ebxak`vt unbvau/

1/8 Vabuòu fandoh xna evbun

Bgxav xna ndux`vde eb}dxbc ibvlax ibod}qcbxdò# K`wavoiaox `g Fbokcbhaun g`viah b g`qv)iaifava}v`fa eìidxxaa cah ft Iv/ Lnòh`lbv Dfvbndi Lnbcah x` gdoh `qx xna dohdwdhqbcu boh douxdxqxdòuvau}òudfca g`v xna ibvlax uebi/ Xna eìidxxaa uqfidxxah b va}`vx eòuduxdok `g xna vabuòu g`v xnevbun boh vaeìiaohbxdòu {dxn e`q}ca `g ebua uxqhdau ò; xn B}vdc#6=22 / Xna va}`vx nbu dhaoxdgdahb kv`q} `g ibod}qcbx`vu doecqhdok lat `ggdedbcu# bqhdx`vu# duuqavu# duuqa)ibobkavu# fv`lavu# ddowaux`vu boh uìa `xnav uxblan`chavu/ I`va`wav# uìa doha}aohaox vauabvenavu# bobctuxu baeòìduxu nbwa bcu` }qfcdunah uìa bvxdecau boh kdwao doxavwda{ do b wda{ x` hduequu xna vabxna evbun/

Do xna g`cc`{dok uaexdòu# xna gbex`vu eòxvdfqxah x` xna ibvlax evbun bva hduequuah/

Doeì}axaoet `g boh A~}c`dxbxdò ft xna Ibvlax Vakqcbx`vu

Do xna }vawd`qu uaexdò# xna doeì}axaoet g xna ibvlax vakqcbx`vu nbwa faao fv`bhct hduequuah/ b uqiibvt `g xna gdohdoku ft Dfvbndi Lnbcah nbu faao }vauaoxah/ Do xna }v`fa va}`vx# xna v`ca `

UAE x` eòxv`c ' iòdx`v eb}dxbc ibvlax# {`vldok do gbw`v `g ibod}qcbx`vu# b}}v`wdok qoaxnde}v`}ùbc boh duuqdok {vòk hdvaexdwau {nden cabh x` qoa~}aexah ibvlax eòhdxdòu nbwa f



67

dohdebxah/ Uìa e`vvq}x ai}c`taau g UAE {n` {ava hdvaexct v dohdvaexct }bvxded}bxah do xna ibvibod}qcbxdò nbwa faao dhaoxdgdah ft xna }v`fa eìidxxaa/ Ibod}qcbxdò do xna cduxdok }vèauu oeì}bodau boh }cbeaiaox g iqxqbc gqohu ' D]@ bx b }vdea c`{av xnbo xna ibvlax wbcqa {ava xna ga{a~bi}ca `g xnadv haahu/ Xna g`cc`{dok xbfca uqiibvdzau xna {vòk bexdòu xblao ft vakqcbx`vu bohuqfuarqaox ibvlax vabexdò/

Hbxa Vakqcbxdòu Bqxn`vdxt Doha~ !Enboka

2=)Jbo)22Fbokcbhaun Fbol .FF$ a~xaohah xna habhcdoa òfbolu do vae`wavdok dohquxvdbc evahdx 2 xnbx {buhdwavxah dox` xna uxèl ibvlax

FF 7844/85 2/1>

2=)Jbo)22Xvbougavvah 28 eì}bodau unbva xvbha x` }qfcdeibvlax 6 douxabh `g u}`x ibvlax 5 UAE H` H`

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g`v oò)ibvkdobfca uxèlu1

UAE H` H`

2=)Jbo)22[dxnhva{ vauxvdexdòu ò iavenbox fbolu+a~}ùqva 7 x` xna uxèl ibvlax/ UAE H` H`

2=)Jbo)22Bcc cduxah; eì}bodau {`qch enboka gbea wbcqa > x`FHX/ 2= gvì FHX/ 2== `v FHX/ 2#=== UAE H` H`

2>)Jbo)22Vaexdgdebxdò `g Ibvkdo C`bo 4 ) doevabudok ibvkdoc`bo vbxd` x` 2:2# x` 2:2:1 boh 2:6 UAE ;28=/68 )=/=5

2>)Jbo)22Vawduah xna iaifavu+ ibvkdo vqca# doevabudok xnagvaa cdidx `g uxèlfv`lavu+ boh habcavu+ a~}ùqva x`xna ibvlax

UAE H` H`

24)Jbo)22Doxv`hqexdò `g edveqdx fvablav 2= ò unbva doha~ x`}v`xaex bkbdoux b fdk vdua `v gbcc UAE 7425/54 )>/84

6;)Jbo)22 Eboeaccbxdò `g F``l Fqdchdok iaxn`h UAE ;5>1/42 2/81

6>)Gaf)22

Uboexdòah gqoh bi`qoxdok x` FHX/ 7== ev`va g`v xna Dowauxiaox E`v}`vbxdò `g Fbokcbhaun x` fqtunbvau# bcu` uboexdòah gqoh Uòbcd Fbol Cdidxah#Bkvbod Fbol Cdidxah# Vq}bcd Fbol Cdidxah bohJbobxb Fbol Cdidxah do x{` }nbuau x` fqt unbvaugvì xna uxèl ibvlax

FF# UAE#@xnav

Vakqcbx`vu16=5/=> ))

2>)B}v)22B}}v`wbc `g FHX/ 1#=== ev`va „Fbokcbhaun Gqoh# bo`}ao)aohah iqxqbc gqoh UAE 17=2/7= ;/77

=4)Jqoa)22

Qohduecùah iòat ebo o` còkav fa dowauxah dox`xna unbva ibvlax do b }vèauu g`v –{ndxaodok’

GdoboeaIdoduxav 761=/== )2/=>

21)Ua})22@vhavah bcc eì}bodau boh gqohu cduxah do xna uxèl ibvlax x` enboka xnadv gbea wbcqa x` FHX/ 2= UAE 147=/;8 )=/2=

24)Ua})22Vahqexdò `g –Udokca ]bvxt A~}ùqva cdidx’ `gFboldok Douxdxqxdòu FF 1477/12 ))

6=)O`w)22Qohaecbvah iòat {`qch o`x fa rqauxdòah dg dx dudowauxah do xna eb}dxbc ibvlax OFV 1>==/86 )6/;>

62)O`w)22Vakqcbx`v ibha dx eì}qcu`vt g`v u}òu`vu#hdvaex`vu boh }vì`xavu `g b cduxah gdvi x` j`doxct

n`ch bx cabux 5= }aveaox uxbla do xna gdvi/

UAE 1566/7> =/2>



6;

Hbxa Vakqcbxdòu Bqxn`vdxt Doha~ !Enboka

62)O`w)22Uax xna oa{ vqca x` ux`} ubcau `g unbvau ft xnau}òu`vu boh hdvaex`vu {dxndo xnadv eì}bodau/ UAE 1147/47 1/21

62)O`w)22

U}òu`vu boh hdvaex`vu `g b eì}bot {dcc òct fa

bfca x` uacc xnadv unbvau do +fcèl ibvlax+ douxabh `g}qfcde ibvlax/

UAE 15;6/77 )8/=2

68)O`w)22 B edveqcbv ò g`qv duuqau do xna oa{ct qowadcahdoeaoxdwau }belbka nbh faao duuqah/ FF 15;5/5= =/=2

67)O`w)2225> eì}bodau boh iqxqbc gqohu eboo`x faxvbhah ò Hae 2 ò bee`qox `g vae`vh hbxa g`v enbokdok xna gbea wbcqa `g unbvau/

UAE 1=71/2> )1/;5

Haiqxqbcdzbxdò `g A~enbokau

Xna a~aeqxdwa f`bvh `g f`xn HUA boh EUA du g`viah {dxn iaifavu f`xn acaexah boh oìdobxah/Xna acaexah iaifavu iùxct eìau gvì b }``c g fdk dowaux`vu/ Hqa x` xna cauu doxavaux boh vacbxdò`g oìdobxah iaifavu# xnaua acaexah iaifavu vqo xna bhidoduxvbxdò/ Eòuarqaoxct# xna }cbtavu `g xna eb}dxbc ibvlax bex bu eòxv`ccav/ Dx nbu faao g`qoh xnbx# hqvdok xna }avd`h g ibvlax ibod}qcbeòxv`ccavu bva dobexdwa faebqua `g eògcdexdok doxavaux/ Do xna dowauxdkbxdò va}`vx dx nbu`qx xnbx# hdggavaox uxblan`chavu `g eb}dxbc ibvlax uq}}`vx haiqxqbcdzbxdò `g a~enbokau {nden}vèauu `g eòwavxdok a~enbokau gvì oò)}v`gdx# iaifav `{oah `vkbodzbxdò x` g`v)}v`gdx# dowau`{oah e`v}`vbxdò/

Dccakbc Dowauxiaox `g Fbolu do xna Eb}dxbc Ibvlax

Hqvdok xna f`ìdok }avd`h `g 6==4)6=2=# ibot fbolu dowauxah nabwdct do xna eb}dxbc ibvlax evùudokxna cdidx `g qudok ha}ùdx iòat/ Bu b vauqcx# xndu aocbvkah uq}}ct `g eb}dxbc doevabuah xna}vdeau/ N`{awav# {nao Fbokcbhaun fbol di}ùah vauxvdexdò x` dowaux ib~diqi `g 2=! ha}ùdx

2Fboldok douxdxqxdò dowauxah }`vxdò `g dohquxvdbc c`bo do uxèl ibvlax# bu b vauqcx FF `vhavah fbolu x` vae`wav xnùa dowauxiaox/

6B uxèl ibvlax v arqdxt ibvlax

5Xna u}`x ibvlax du b }qfcde gdoboedbc ibvlax# do {nden gdoboedbc douxvqiaoxu `v eìi`hdxdau bva xvbhah g`v diiahdbxa hacdwavt/

Dx eòxvbuxu {dxn b gqxqvau ibvlax do {nden hacdwavt du hqa bx b cbxav hbxa/

8Oaxxdok `v gdoboedbc bhjquxiaox iabou o` dowaux`v {dcc fa bcc`{ah x` fqt unbvau bkbdoux xna ubca }vèaahdoku `g `xnav uaeqvdxdau {dxndo xna a~duxdok uaxxcaiaox }avd`h/

1Uaeqvdxdau xnbx eboo`x fa }qvenbuah ò ibvkdo bx b }bvxdeqcbv fv`lavbka/

7UAE {dxnhvb{o Iavenbox Fbo lu— vauxvdexdò o uxèl ibvlax dowauxiaox/

; B eì}bot du ubdh x` fa –cduxah’# –rq`xah’ `v –nbwa b cduxdok’ dg dxu unbvau ebo fa xvbhah ò b uxèl a~enboka/

>Bcc eì}bodau duuqa unbvau {dxn b gd~ah haoìdobxdò ebccah xna gbea wbcqa .`v }bv wbcqa$ `g xna unbva/ Xndu gbea wbcqa dudohdebxah ò xna unbva eavxdgdebxa/

4Ibvkdo c`bou bva c`bou xblao x` gdoboea xna }qvenbua `g uaeqvdxdau# quqbcct xna }qvenbua `g uxèl .bcu` lo`{o buarqdxt$/

2=Edveqdx Fvablav du xna ib~diqi }aviduudfca hawdbxdò `g xna }vdea .u}aedgdah bu }aveaoxbka$ `g xna doeìdok `vhav

gvì xna Edveqdx Fvablav Fbua ]vdea g`v xnbx douxvqiaox/ @vhavu wd`cbxdok edveqdx fvablav {dcc vauqcx vajaexdò `g xna `vhav/



6>

iòat do uxèl ibvlax# fbol fakbo x` uacc xnadv dowauxiaoxu {nden ebquah h`{o{bvh }vauuqva do uxèl}vdea/ Bu vauqcx ibvlax uqggavah ao`vi`quct boh fbolu bcu` e`qcho—x vakbdo cùx eb}dxbc/

Gvbqhqcaox ]va)D]@ ' D]@ ]vèauu

Dowauxdkbx`vu g`qoh xnbx# qohav{vdxavu do eòoaexdò {dxn uìa hdunòaux `}avbxdwau `g vaibod}qcbxah unbva }vdeau do xna ]va)D]@ boh D]@ }vèauu/ Do xna ]va)D]@ uxbka# xnat dccakbccb lavf ibvlax xnv`qkn {nden xnat }cbea unbvau x` dowaux`vu ft}buudok xna cakbc }vèahqvau/ I`va`wUAE b}}v`wah xna b}}cdebxdò g`v D]@ {dxn`qx vaeìiaohbxdò `g xna cduxdok eìidxxaa `g HUA EUA/ Hqa x` UAE—u doudkodgdebox uqvwadccboea# qohav{vdxavu ebceqcbxah gd~ah bfo`vibc dohdebxdwboh buuax wbcqa/ Bu b vauqcx `g bcc xnaua# do xna ]va)D]@ boh D]@ uxbka# Lavf ibvlax `wavwbc}vdeau {nden awaoxqbcct evabxah cdrqdhdxt evdudu do xna ibvlax/

Qodg`vi Gbea Wbcqa `g Unbvau

Do6==4 ' 6=2=#76 cduxah eì}bodau u}dcx xnadv unbvau x` ibla b qodg`vi gbea wbcqa `g unbva bx X

2=/ Do xna`vt# u}cdxxdok unbvau hàuo—x doxaoh x` enboka vawaoqa `v buuax boh xnqu un`qch o`x bggaeunbva }vdeau/ N`{awav# bu u}cdxxdok unbvau ibla dx }ùudfca g`v uibcc dowaux`vu x` fqt xnùa unbv{ava }vawd`quct a~}aoudwa# uibcc dowaux`vu un`{ah b c`x `g aoxnqudbui x` fqt u}cdx unbvaueòuarqaoxct }qunah xna }vdea q}/ Xndu fakbo x` xvboug`vi ibvlax eb}dxbcdzbxdò< g`v douxbeì}bodau {nden nbh u}cdx xnadv unbvau {dxoauuah711 ! doevabuah ibvlax eb}dxbcdzbxdò/ @o xnaeòxvbvt# eì}bodau {nden hdh o`x u}cdx xnadv unbvau o`xdeah òct87 ! vdua do ibvlax eb}dxbcdzbxdò/Gvì Jqct 6==4 x` Haeaifav 6=2= xna v`ca `g x`xbc IE {ava>2/1 ! `g eì}bodau {nden bh`}xahunbva qodg`vi boh òct2>/1 ! xnùa xnbx hdh o`x bh`}x/ .Lnbcah#6=22 $

Xvbha do ]va)D]@ ]cbeaiaox

]vdwbxa }cbeaiaox `v ]va)D]@ }cbeaiaox du xna }vèauu ft {nden Duuqav Eì}bot uaccu unbvau xùacaexah oqifav `g dowaux`vu {dxn`qx nbwdok x` vakduxav {dxn UAE/ Do uqen ldoh `g }cbeaeì}bodau hàuo—x varqdva x` hduecùahaxbdcah gdoboedbc dog`vibxdò/ Bcxn`qkn do Aqv`}a bohBiavdeb# xnava bva eavxbdo kqdhacdoau g`v }vdwbxa }cbeaiaox# do Fbokcbhaun UAE hdho—x nbwa vakqcbxdòu/ Eòuarqaoxct# qohav{vdxavu quah dx bu hawdea `g ibod}qcbxdò/ Do xna iùx `g xnaxna }cbeaiaox {bu ggavah bx cauu xnbo D]@ }vdea/ Bee`vhdok x` Lnbcah .6=22 $# adknx eì}bodau duuqaheòwavxdfca }vagavaoea unbva do6==4 ' 2= do {nden bwavbka74 ! {aox g`v }cbeaiaox/ U`# }bvxded}bxdò`g xna }qfcde {bu ndohavah boh xnbx evabxah }cbeaiaox xvbha `v Lavf ibvlax/ Uìa eì}bodauhduxvdfqxah1=)4= }aveaox `g xnadv }bdh q} eb}dxbc do }vdwbxa }cbeaiaox/ Bu b vauqcx# xna oqifavgvaa gc`bxdok unbvau haevabuah bu eì}bodau {aox g`v i`va }vdwbxa }cbeaiaox `g unbvau/ Bee`vhdhdggavaoea fax{aao haiboh ' uq}}ct }qun unbva }vdeau q}/ Bu }vdwbxa }cbeaiaox hàuo—x varqdva botvakduxvbxdò {dxn UAE# ibot oò)cduxah eì}bodau hvbdo `gg nqka dowauxiaox gvì eb}dxbc ibvla

Iduqua `g @iodfqu Bee`qoxu

Bo ìodfqu bee`qox du b uxèl n`chdok bee`qox xnbx dow`cwau i`va xnbo2=#=== dowaux`vu/ Bcxn`qknbexqbc unbvan`chavu# dohdwdhqbc dowaux`vu hò+x nbwa xna bee`qoxu do xnadv obiau/ @iodfqu{ava bo`xnav ibj`v hawdea `g ibod}qcbxdò/ Do Fbokcbhaun# DEF nbu4 ìodfqu bee`qoxu boh abeniavenbox fbolu nbwa òct òa ìodfqu bee`qox/ Bee`vhdok x` Lnbcah .6=22 $# bx cabuxXl 6/1 fdccdò



64

nbu faao xvbhah gvì ndhhao v iodfqu bee`qoxu quah bu b ibj`v x``c g uxèl ibvlax ibod}qcbxdò/Xna utohdebxa }cbtavu g xna Dowauxiaox E`v}`vbxdò g Fbokcbhaun .DEF$ xvbhah Xl6/5 fdccdò gvìodoa ìodfqu bee`qoxu `g xna DEF bcòa/ Xna }v`fa va}`vx }qfcdunah xna obia `g 5= fdk }cbtavudoecqhdok DEF g`v b c`x `g uqu}ded`qu xvboubexdòu boh ubtu iùx ibod}qcbx`vu xvbhah gvì ìodfqu bee`qoxu/ Iùx fdk }cbtavu enùa ìodfqu bee`qoxu x` kbifca do xna ibvlax# bu dx+u o`x}ùudfca x` gdoh `qx duuqa){dua `v ecdaox){dua xvboubexdòu `g bexqbc oqifav `g unbvau gvì ìodbee`qoxu/

Gbqcxt Buuax Vawbcqbxdò

Xna vawbcqbxdò g b eì}bot+u buuaxu x` xbla bee`qox g dogcbxdò v enbokau do wbcqa udoea xn{ava berqdvah/ Xna enboka do wbcqa du evahdxah x` xna vawbcqbxdò vauavwa bee`qox/ [dxe`ccbf`vbxdò `g hdunòaux bqhdx`vu# eì}bodau kaoavbxah bvxdgdedbc bqhdx va}`vxu do {nden buun`{o `wavwbcqah/ Bu b vauqcx# {nao ebceqcbxdok Oax Buuax Wbcqa .OBW$ fbuah ò xndu `wavbuuax# dx }v`wdhah {vòk udkobc bf`qx xna eì}bot—u xvqa gdoboedbc eb}bfdcdxdau/ I`va`wav# xnù

eì}bodau duuqah fòqu unbvau un`{dok qovabcdzah kbdo `g vawbcqah buuax }vdea {nden du b bee`qoxdok }vbexdea/Bcxn`qkn# eì}bodau bva varqdvah x` ibdoxbdo }v`wdudò bkbdoux –hagavvah xb~’hqvdok buuax vawbcqbxdò x` }bt xb~ do gqxqva# eì}bodau hdh o`x g`cc`{ dx/ Dowauxdkbxdò va}`vuìa eì}bodau {nden k`x OBW i`va xnbo2==! x` 5#8;6 ! bgxav buuax vawbcqbxdò/

Dvvakqcbvdxdau do F``l Fqdchdok Iaxn`h

F``l fqdchdok iaxn`h du xna kc`fbcct vae`kodzah xaenodrqa `g haxavidodok xna `ggav }vdea `g D]@Do xndu }vèauu# xna gbdv }vdea du `fxbdoah gvì xna haiboh `g b uaeqvdxt gvì douxdxqxdò dow

boh xnadv dohdebxdwa }vdea xnv`qkn v`bh un`{u/ Xna i`xdwbxdò g`v doxv`hqedok xndu iaxn`Fbokcbhaun uxèl ibvlax {bu x` bxxvbex i`va gdviu g`v aocduxdok do xna uxèl a~enbokau xnv`qkn unbva }vdedok/ N`{awav# dx {bu g`qoh bu bo douxvqiaox `g ibod}qcbxdok ibvlax }vdeau# Dow`fxbdoah x`` ndkn }vdea g`v xna uaeqvdxt xnv`qkn xna }vdea hdue`wavt uxbka boh `ggc`bhah xnùa ubgxav xna cèl do }avd`h/ Bu b vauqcx xnat }qccah `qx b c`x `g }v`gdx {dxndo b un`vx }avd`h bohxnbx xna unbva }vdea hdh o`x doevabua/ Do xndu }vèauu e`vvq}xah Duuqav boh duuqa ibobkav iboxna }vdea/

Cbel `g lo`{cahka `g uibcc dowaux`v

Iùx `g xna dowaux`v `g `qv eb}dxbc ibvlax bva uibcc dowaux`v/ Boh {a nbwa uaao ibot `g xnai nbwcbel `g }v`}av lo`{cahka bf`qx xna ibvlax/ Xnat jqux fqt b unbva x` kax }v`gdx bgxav5 hbtu {nao xnaunbvau k`x ibxqvah/ Fqx n`{ boh {nt xnat bva uq}}ùah x` kax b }v`gdx xnat hdox lo`{ {acc/ U` {naoibvlax kàu haecdoa xna dowaux`vu bva uq}}ùah x` {bdx boh o`x x` uacc do cùu/ Fqx xna k`x }bodboh u`ch `gg xnadv unbva do cùu awao/ U` xndu bxxdxqha }v`còkah xna ibvlax x` k` do fabvdun udx



5=

Haeaifav Ecùdok `g Gdoboedbc Douxdxqxdòu

Xna ibvlax evbun nb}}aoah bx xna aoh `g O`waifav boh Haeaifav/ Dx {bu xna xdia ecùdok g`v ibot`g xna gdoboedbc douxdxqxdò/ U` douxdxqxdòu# {n` nbh dowauxiaoxu do xna ibvlax# uxbvxah x` }v`gdx dox` xnadv fbk/ U` c`xu `g }v`gdx xbldok x``l }cbea do xnbx xdia/ Dx dogcqaoeah xna ibvlax

do xna fabvdun x``/

Uavdbc boh Bvxdgdedbc Xvbhdok

Uìa ibod}qcbx`vu evabxah bvxdgdedbc bexdwa xvbhdok aowdvòiaox biòk xnaiuacwau xnv`qknxvboubexdò boh doevabuah unbva }vdeau/ I`va`wav uavdbc xvbhdok boh }vdea ibod}qcbxdò ft ibotuacc `vhavu xnv`qkn hdggavaox bee`qoxu boh fv`lav n`quau {nden `wavnabxah xna ibvlax/

Duuqa `g Vdknx boh ]vagavaoea Unbvau

Vdknx unbva dohdebxau duuqdok oa{ unbvau x` xna a~duxdok unbvan`chavu bx b hdue`qox }vdea/ X`g vdknx unbva doevabua oqifav `g unbva {nden un`qch haevabua unbva }vdea fqx dx hdh o`x nb}Ituxavd`quct# dx x``l UAE gdwa iòxnu x` eìa x` b haedudò vakbvhdok vdknx duuqa }v`}ùbc/

]vagavaoea unbva bva xna unbva {nden eòxbdo gd~ah }aveaoxbka `g hdwdhaoh bx eùx `g w`xdoDuuqav eì}bodau }v`wdha bo `}xdò x` eòwavx dox` kaoavbc unbvau x` ibla dx i`va bxxvbexdwa boebccah Eòwavxdfca ]vagavaoea Unbva/ N`{awav# do Fbokcbhaun# eì}bodau duuqa }vagavaoea unòct 2)5 i`xnu {nden du wavt qoquqbc/ UAE bcu` hdho—x nbwa }v`}av kqdhacdoau g`v ]vagavaoea Unbvaduuqboea/

Uqu}ded`qu Xvboubexdò `g X`} ]cbtavu

Hqvdok xna xdia `g qoquqbc q}u boh h`{ou do xna doha~# uìa dohdwdhqbc boh douxdxqxdòbc dowhdh ibot uqu}ded`qu xvbhdok vawabcah ft }v`fa va}`vx/ Xnaua dowaux`vu bva ibdo vabuòu g`v xna ebibvlax evbun< xnat {dxn e`ccbf`vbxdò {dxn k`wavoiaox ndkn)q}u boh vakqcbx`vu ibod}qcbxah ux}vdeau/

Fcèl ]cbeaiaox

Xnava {bu b c`x `g uqu}ded`qu fcèl xvbhdok `g iqxqbc gqohu/ Uìa dowaux`vu k`x ao`vi`qu bi`qox`g }cbeaiaox xdia x` xdia/

Hdvaex Cduxdok

[dxn xna b}}v`wbc `g UAE ga{ eì}bodau nbwa faao hdvaexct cduxah do xna uxèl a~enboka/ Xnaeì}bodau eìa x` xna ibvlax {dxn dogcbxah unbva }vdeau/ Dowauxdkbxdò va}`vx iaoxdòah xndohdebxdwa }vdeau `g xnaua eì}bodau {ava haxavidoah awao1> xdiau i`va xnbo A]U boh4 xdiau `g OBW/ Xn`qkn unbva }vdeau `g xnaua xt}au `g hdvaexct cduxah eì}bodau nbwa faao bvxdgdehaxavidoah# fqx UAE `v a~enbokau hdh o`x dowauxdkbxa xna vabuò `g bfo`vibc }vdea/



52

7/ Uqvwat Va}`vx

Xndu uaexdò `g xna uxqht }vauaoxu vauqcxu `g xna uacg)bhidoduxavah rqauxdòobdvau/ @qx21 ai}c`taau 26 boh `qx `g 2= dowaux`vu7 vaxqvoah xna rqauxdòobdvau/ Do ebua g xndu uxqht# dx du facdawx` fa b iavdx x` }vauaox xna vauqcx g awavt rqauxdò ua}bvbxact/ Xna vauqcx du bobctzah boh uqiibvbee`vhdok x` xna `fjaexdwau `g xna uxqht/ Nava# xna bqxn`v va}vauaoxu vabuòu `g xna uxèl ibevbun# xna v`ca `g vakqcbx`vu boh k`wavoiaox/

Vacbxdò `g Vau}òhaoxu {dxn Fbokcbhaun Eb}dxbc Ibvlax

Xnava {bu b ecùah rqauxdò x` xna vau}òhaoxu vakbvhdok xnadv vacbxdòund} {dxn eb}dxbc ibvla5 hdggavaox }ùudfca bou{avu {nden bva # boh Do xna gdvux kv`q} `g ubi}ca# `qx26 ai}c`taau `g fv`lav n`quau1 {ava g`qoh bu Ai}c`taa boh; {ava F`xn .ai}c`taa boh dowaux`v$/

@o xna `xnav nboh# do xna uaeòh kv`q} `g ubi}ca bcc 7 vau}òhaoxu {ava kaoavbc Dowaux`v {n` dodo xna ibvlax/ U`# xna vauqcx `g xna rqauxdò oqifav2 gdxu {dxn xna a~}aexah ubi}ca `g xna bqxn`vg`v xna Uacg)bhidoduxavah rqauxdòobdva/

Bkvaadok {dxn Ibj`v Ebquau `g Dowauxdkbxdò Va}`vx `g Lnòhlbv DfvbndiLnbcah .6=22$

Oòa g xna vau}òhaox gvì f`xn ai}c`taa boh dowaux`v kv`q} {n` bkvaah {dxn bcc xna ebquau kdwaodo xna rqauxdòobdva/ Awavt vau}òhaox uacaexah ga{ ebquau bu ibj`v vabuòu fandoh xna evbun/

g`cc {dok xbfca }v`wdhau dog`vibxdò bf`qx oqifav `g vau}òhaoxu bkvaah {dxn hdggavaox ebquau:

Vabuòu O`/ `g Vau}òhaoxu

F``l Fqdchdok iaxn`h 7

Hdvaex cduxdok >

]cbeaiaox unbva 6

Bqhdx va}`vx 5

E`vvq}xah ai}c`taau `g vakqcbx`vu 22

U}cdx Unbva 2

Uavdbc xvbhdok 6

Fcèl xvbhdok =

Doudhav xvbhdok >



56

Vabuòu O`/ `g Vau}òhaoxu

@wav a~}ùqva `g fbolu ' gdoboedbc douxdxqxdòu 21

@iodfqu bee`qox ;

]``v iòdx`vdok `v vakqcbx`vu 26

Ibvkdo c`bo 22

Lavf ibvlax 6

Duuqa `g Vdknx ' }vagavaoeau unbvau 6

Bu xna vauqcx un`{u# du xna iùx di}`vxbox vabuòfandoh xna evbun {nava21 vau}òhaoxu uacaexah xna ebqua/ Xnao {bug`qoh 6oh di}`vxbox vabuò g`v xna evbun enùao ft26 vau}òhaoxu/

{ava enùao ft22 vau}òhaoxu boh {buuacaexah ft> vau}òhaoxu/ @xnav ebquau {ava uacaexah ft hdggavaox oqifav `g vau}òhaoxu/ Xn`qknbotòa hdh o`x enùa bu b vabuò g`v xna evbun fqx dx {bu iaoxdòah ft xna vau}òhaoxudo `xnav rqauxdòu/

Bot @xnav Vabuòu xnbx {ava Cdbfca g`v xna Eb}dxbc Ibvlax Evbun

Xna bdi `g buldok xndu rqauxdò {bu x` gdoh `qx dg xnava du bot `xnav vabuò xnbx ebquah xna uibvlax evbun fqx hdh o`x b}}abv do xna dowauxdkbxdò va}`vx g Dfvbndi Lnbcah/ Xnavag`va# xna b`g xna rqauxdò uavwau x` kaoavbxa oa{ dhabu bf`qx ibj`v ebquau `g eb}dxbc ibvlax evbun boh dx uqeeauugqc x` h` u`/ Iùx `g xna vau}òhaoxu bou{av xna rqauxdò {dxn g`cc`{dok ebquau:

Difbcboea `g haiboh boh uq}}ct `g unbvau do HUA ' EUA Dowaux`vu hdho—x nbwa dhab bf`qx gdoboedbc va}`vx `g cduxah uaeqvdxdau qogbdv bqhdx va}`vx Fqtdok unbvau fbuah ò vqi`v ' {dxn`qx uxqht Ibj`vdxt `g kaoavbc dowaux`vu hò—x nbwa lo`{cahka bf`qx eb}dxbc ibvlax Doxavwaoxdò `g Fbokcbhaun Fbol .eaoxvbc fbol$ @wav a~}aexbxdò `g kaoavbc dowaux`v Cdrqdhdxt evdudu

Xna rqauxdò oqifav6 boh5 {bu uxvqexqvah x` gdoh vauqcx `g –vauabven rqauxdò òaboh x{ ’/ ]``vlo`{cahka `g kaoavbc dowaux`v bf`qx xna uxèl ibvlax {bu xna iùx eìiò vabuò iaoxdòah ft

xna vau}òhaoxu `g fv`lav n`quau {nden {bu o`x do xna dowauxdkbxdò va}`vx/ Xnat iaoxdòah xnibot `g kaoavbc dowaux`vu hò—x nbwa ao`qkn lo`{cahkabf`qx xna uxèl ibvlax/ Xnat fqt unbvau



55

{dxn`qx uxqhtdok eì}bodau# ò vqi`vu boh xnat nbwa `wav a~}aexbxdòu/ N`{awav# iùx `g xnakaoavbc dowaux`vu hdh o`x iaoxdò dx/ Doxavwaoxdò g Fbokcbhaun Fbol# difbcboea g haiboh ' uq}`g unbvau boh cdrqdhdxt evdudu {ava `xnav vabuòu iaoxdòah ft xna vau}òhaoxu `g f`xn kv`q}u/

H` xna Dowauxdkbxdò Va}`vx Cabhu x` bot Ibvlax Di}v`waiaoxu

Xna rqauxdò {bu bo`xnav ecùah rqauxdò {dxn –Tau’ boh –O`’ x{` hdggavaox }ùudfca bou{avu {nava4 vau}òhaoxu bou{avah –Tau’ boh4 bou{avah –O`’/ ]qfcdundok dowauxdkbxdò va}`vx {bu b haedudò`g ndkn e`qvx/ U`# xna vakqcbx`vu boh k`wavoiaox {dcc {`vl bee`vhdok x` xna va}`vx boh dvaeìiaohbxdòu {ava b kvabx a~}aexbxdò `g bcc uxbla)n`chavu `g xna ibvlax/ Xnava {bu bo`xnavdowauxdkbxdò va}`vx do uxèl ibvlax evbun `g Fbokcbhaun do2447 / Fqx dx {bu fcbiah xnbx uxa}u {avao`x xblao bee`vhdok x` xna va}`vx/ U`# xna bou{av `g xndu rqauxdò vawabcu quagqcoauu `g xna va}aggaexdwaoauu `g dx ft xna vakqcbx`vu boh k`wavoiaox/ Iùx `g xna kaoavbc dowaux`vu facdawdowauxdkbxdò va}`vx hdho—x cabh x` bot ibvlax di}v`waiaoxu/ N`{awav# iùx `g xna ai}c`taau `g fv`lav n`quau bkvaah xnbx dx cabhu x` ibvlax di}v`waiaoxu boh uìa iaoxdòah dx bu uc`{ct aggaexdw

Hawac`}iaox `g Vqcau ' Vakqcbxdòu ft Vakqcbx`vu xnbx {ava Fcbiah g`v xnaEvbun

Vau}òhaoxu bou{avah xna rqauxdò }v`wdhdok fvdag dhab bf`qx xna di}v`waiaox `g vqcau bovakqcbxdòu udoea xna evbun/26 vau}òhaoxu `g ai}c`taa `g fv`lav n`quau ' kaoavbc dowaux`v bkvaah

xnbx vakqcbx`vu hawac`}ah xnadv ibot vqcau boh vakqcbxdòu {nden {ava fcbiah bu xna ebquau `gevbun/ Bee`vhdok x` xna vau}òhaoxu hawac`}ah vqcau boh vakqcbxdòu bva g`cc {dok:

Ibvkdo c`bo haedudò {`qch fa xblao ft fv`lav n`quau boh iavenbox fbolu o`x UAE U}òu`v hdvaex`v ibohbx`vt n`chu dohdwdhqbcct6! boh bcc x`kaxnav5=! unbvau F``l fqdchdok iaxn`h do D]@ nbu faao hawac`}ah Fbokcbhaun Fbol di}ùah cdidxbxdòu ò Fbol ' gdoboedbc douxdxqxdòu bf`qx xnadv a~}ùq

do xna ibvlax

Un`qch nava fa I`va Hawac`}iaox `g Ibvlax Vakqcbxdòu# Hdvaexdwau `vUqvwadccboea ft xna Vakqcbx`vu

Vau}òhaoxu iaoxdòah xnbx xnava un`qch fa i`va hawac`}iaox g vqcau boh vakqcbxdòu do g`cc {do{btu:

Bh`}xdò `g U`gx{bva .uqvwadccboea$ boh uqvwadccboea xabi x` iòdx`v `wavbcc xvbbexdwdxdau

Xvqux{`vxnt D]@ b}}v`wbc }vèauu Bexqbc f``l fqdchdok }vèauu un`qch fa doxv`hqeah



58

@ggc`bhdok k`wavoiaox unbvau Ibvkdo c`bo haedudò un`qch fa xblao ft fv`lav n`quau boh iavenbox fbolu o`x UAE Doudhav xvbhdok {`qch fa uxvdexct }v`ndfdxah

Uqkkauxdok X``cu Xnbx Un`qch Vakqcbx`vu Bh`}x x` ]vawaox Xndu Ldoh `g Evbundo Gqxqva

Awavt vau}òhaox iblau vaeìiaohbxdò vakbvhdok n`{ vakqcbx`vu ebo }v`xaex xndu ldoh `g evbun dgqxqva ft bou{avdok xna rqauxdò/ Xna a~}aexah bou{av g`v xna rqauxdò {dcc eòxbdo hdggavaoxxnbx ebo `v un`qch bh`}x ft xna vakqcbx`vu/ Iùx g xna vau}òhaoxu `g f`xn ubi}ca kv`q}u }v`wdhahbeeqvbxa boh ecabv bou{av g`v xna rqauxdò/ Xnat ibha g`cc {dok vaeìiaohbxdòu g`v UAE boh uxèla~enbokau/ ]v`wdhah vaeìiaohbxdòu bva:

Vakqcbx`vu un`qch }avg`vi xnadv j`f nòauxct boh udoeavact UAE oaahu nòaux `ggdedbcu

Doudhav xvbhdok un`qch fa }v`ndfdxah @iodfqu bee`qox un`qch fa eòwavxah x` F@ bee`qox

Aggaexdwa Uxa}u Xnbx K`wavoiaox X``l X` Di}v`wa xna Ibvlax Eòhdxdò bgxavxna Evbun

Vau}òhaoxu bou{avah xnbx xna k`wavoiaox `g Fbokcbhaun x``l dodxdbxdwau x` di}v`wa xna ux

ibvlax udxqbxdò iaoxdòdok hdggavaox uxvbxakdau# x``cu# }`cdedau boh vqcau)vakqcbxdòu Fbokcbhaun k`wavoiaox/ Xna aggaexdwa uxa}u xblao ft xna k`wavoiaox x` di}v`wa xna ibvlax eòhdxdbva g`cc`{dok:

@}}`vxqodxt x` {ndxao xna fcbel iòat ft dowauxdok do uxèl ibvlax B}}`doxdok oa{ enbdvibo boh iaifavu do UAE Auxbfcduniaox `g cb{ hdwdudò

Bexdòu Xblao ft xna K`wavoiaox [ava Uqggdedaox x` Nbohca xna Udxqbxdò `vO`x [dxn Uqkkauxdò

27 vau}òhaoxu `g xna kaoavbc dowaux`v boh ai}c`taa kv`q} bkvaah xnbx bexdòu xblao ft Fbokcbhak`wavoiaox bva uqggdedaox x` xbelca xna eòhdxdò `g xna uxèl ibvlax bgxav xna evbun/ Do bhhuìa vau}òhaoxu bcu` uqkkaux di}caiaoxdok xna bexdòu xblao ft xna k`wavoiaox/ @oct x{`vau}òhaoxu hdh o`x bkvaa {dxn xnai boh vaeìiaohah g`cc`{dok bexdòu xnbx un`qch xna k`wavoiaoxxbla x` nbohca xna udxqbxdò:

K`wavoiaox un`qch boo`qoeau doeaoxdwau xnv`qkn UAE x` bxxvbex eì}bodau x` xna eb}dibvlax

K`wavoiaox un`qch xbla còk xavi bexdòu g`v xna ibvlax



51

V`ca g K`wavoiaox x` ]vawaox Xndu Ldoh g Evbun do Gqxqva

Xna bou{av `g xna rqauxdò eòxbdou vaeìiaohbxdòu `g uxa}u `v bexdòu g`v k`wavoiaox xnbx

un`qch bhb}x x` }vawaox `v bw`dh boh xbelca ubia ldoh `g evbunau do gqxqva/ Vaeìiaohbxdòu bvkdwao g`cc`{dok:

Bexdòu un`qch fa xblao bkbdoux xnùa {n` {ava dow`cwah do xndu vaeaox uxèl ibvlax evbun Di}v`wdok uaeqvdxt cb{u boh }aobcxt g`v fvabldok xnùa Fbcboedok `g haiboh boh uq}}ct `g unbvau G`cc {)q} xna ibvlax boh }v`xaex bkbdoux bot ldoh `g ibod}qcbxdò

Xna rqauxdò oqifav1#

7#

;#

>#

4'

2= {ava haudkoah x` uavwa xna –vauabven rqauxdòxnvaa boh g`qv’/Xna vauqcx `g xnaua rqauxdòu hauevdfa xnbx xna vakqcbx`vu boh xna k`wavoiaox `g Fbokcbhau

eòxvdfqxah do xna hawac`}iaox `g uxèl ibvlax bgxav xna evbun/ N`{awav# i`va hawac`}iaoxu bvaoaeauubvt/



57

;/ Vaeìiaohbxdòu

Ft o`{# xna ibj`v gbex`vu xnbx eòxvdfqxah x` eb}dxbc ibvlax hafbeca nbwa faao hduequuah/ Nava u`

vaeìiaohbxdòu nbwa faao }va}bvah g`v xna wbvd`qu uxblan`chavu `g xna eb}dxbc ibvlax: UAE un`qch e``vhdobxa dxu uqvwadccboea bexdwdxdau {dxn `xnav vakqcbx`vu cdla HUA

I`va`wav# UAE oaahu x` ibla còk xavi haedudòu g`v eb}dxbc ibvlax# boh bw`dh ibldok un`vxxavi eògqudok hdvaexdwau/

Ibod}qcbxdò do ]va)D]@ boh D]@ }vèauu iqux fa enaelah/ UAE un`qch gvbia oa{ uaxu `g aggaexdwa vakqcbxdò vacbxdok x` f``l fqdchdok iaxn`h boh }vdwbxa }cbeaiaox/ Xnaua x{` x`{ava iùxct quah ft ibod}qcbx`vu do6=2=)22 ibvlax uebi/

I`va`wav# UAE oaahu x` iòdx`v qoquqbc xvbhdok }bxxavo x` dhaoxdgt doudhav xvbhdok boh xvbhdok/

Bcc ìodfqu bee`qoxu `g DEF boh iavenbox fbolu iqux fa eòwavxah dox` kaoavbc F@bee`qoxu# o` i`va uaevaxdwa xvbhdok/

B oa{ bex vakbvhdok i`va eì}vanaoudwa gdoboedbc hduecùqva `g eì}bodau iqux fa aobexahUqen bex {dcc }vawaox xna bqhdx`vu gvì ibldok gbqcxt bqhdx va}`vxu/

I`va Eì}vanaoudwa kqdhacdoau g`v e`v}`vbxa k`wavoboea do xna cduxah eì}bodau ibux fag`viqcbxah/ Uqen bexu {dcc }vawaox xna u}òu`v boh hdvaex`vu `g hdggavaox cduxah eì}boibod}qcbxa eì}bodau gdoboedbc uxbxaiaoxu g`v xnadv `{o doxavaux/

Bo bex vakbvhdok xna }v`xaexdò `g uibcc dowaux`vu iqux fa aobexah/ Uibcc dowaux`vu bvawqcoavbfca do ibvlax ibod}qcbxdò# u` xnava iqux fa uìa cakbc bwaoqau g`v xnai x` }v`xaexxnaiuacwau/

HUA boh EUA iqux fa haiqxqbcdzah xnbx du dx iqux fa xvboug`viah dox` bo dowaux`vu {oa`vkbodzbxdò gvì eqvvaox iaifav `{oah `vkbodzbxdò/

Bu eqvvaoxct ibj`vdxt dowaux`vu cùx xnadv eògdhaoea ò UAE# b x`xbc vag`vi `g UAEvarqdvah/ UAE iqux fa va`vkbodzah {dxn rqbcdgdah gdoboedbc bobctux/

Fbokcbhaun Fbol varqdvau x` fa i`va ebvagqc do xbldok iòaxbvt }`cdedau/ Xnat iqux bobctzaxna }`xaoxdbc di}bex `g iòaxbvt }`cdedau do xna eb}dxbc ibvlax/

K`wavoiaox iqux aouqva xna }qoduniaox `g eqc}vdxu xndu xdia/ Dx nbu faao g`qoh do xn

dowauxdkbxdò va}`vx xnbx ibot ibuxavidohu `g xndu ibvlax uebi {ava bcu` vau}òudfca `g



5;

2447 evbun/ U` qocauu k`wavoiaox xbla cakbc bexdò bkbdoux xnai# dowaux`vu {dcc o`x fa bfcvakbdo xnadv eògdhaoea ò eb}dxbc ibvlax/

K`wavoiaox ebo bcu` ggc`bh xna unbvau g ibot uxbxa)`{oah vkbodzbxdòu x` fvdok b fbcboe

fax{aao uq}}ct boh haiboh g`v xna uxèlu do xna eb}dxbc ibvlax/ B fbcboeah uq}}ct bohhaiboh g`v xna uxèlu ebo aouqva gbdv }vdea/

Gdobcct uibcc dowaux`vu bva xna iùx di}`vxbox haedudwa g`vea do haxavidodok ibvlax fanbwDx nbu faao g`qoh xnbx# iùx xna uibcc dowaux`vu do Fbokcbhaun—u eb}dxbc ibvlax bva dccdxavb`g dowauxdok/ Xnat kbifca ò xnadv cdga ubwdoku {dxn`qx lo`{dok xna xvqa eòhdxdò `g eì}bot xnat bva dowauxdok/ Xnat xbla xnadv dowauxiaox hdexdòu fbuah ò vqi`vu/ Do xndedveqiuxboea# ahqebxdok uibcc dowaux`vu bva x`} iùx }vd`vdxt/ Bo ahqebxah }``c `g dowaudu iùx uxvòk undach bkbdoux xna a~}c`dxbxdòu `g ibod}qcbx`vu/

>/ Eòecqudò

Do eòecqudò# xna eqvvaox uxèl ibvlax evdudu nbu ndkncdknxah oqiav`qu wqcoavbfdcdxdau do xnautuxai {nden nbu faao fqdch q} ò {dxn a~eauudwa cawavbka# uavd`qu idu}vdedok `g xna uaeqvidukqdhah vacdboea o douxdxqxdòbc dowaux`vu boh gdobcct b }bxnaxde vau}òua g `qx g un`vxu vau}aedbcct xna UAE boh FF/

Bgxav xna evbun# xna vakqcbx`vu x``l uawavbc }`cdeau x` bhhvauu xna duuqau xnbx ebqua xnduidug`vxqoa g`v xna e`qoxvt—u aeòìt/ N`{awav# xna rqauxdò du {naxnav xnaua }`cdet iabuqvau `g xnavakqcbx`vu {dcc fa bfca x` ebci ' uxbfdcdza xna ibvlax0 Xna bou{av du `fwd`quct o`x wavt aoe`qvbkdudoea iùx `g xna vabuòu fandoh xna h`{ogbcc `g xna ibvlax dow`cwa }`cdet fcqohav ft vakqcbx`v{nden nbu o`x faao bhhvauuah còk xavi }v`kvbiu/ Xna a~}avdaoeau `g hawac`}ah ibvlaxu cdla Oa{T`vl Uxèl A~enboka# Còhò Uxèl A~enboka boh X`lt` Uxèl A~enboka ebux unbh`{u ò xnauqeeauu g k`wavoiaox x` }qodun xna vabc eqc}vdxu boh }vawaox xna va}axdxdò g uqen gdoboedb



5>

Vagavaoeau

Bgv`z# F/ X/# .6==7$#Doha~ evbun `g 2447 : B ebua `g vakqcbx`vt gbdcqva # Duuqa o`/61;

Vaxvdawah gvìnxx}: {{{/xnahbdctuxbv/oax cb{ 6==7 2= =2 giv/nxi ò Jqoa66#6=26

Bniah# D/# .6=22 $#Ibkde kbia# òea bkbdo /Vaxvdawah gvìnxx}: {{{/xnahbdctuxbv/oax oa{Haudko oa{u)haxbdcu/}n}0odh9274;=6 ò Jqct2# 6=26

Bcbi ax bcc# .o/h/$# Aggaex `g ]`cdet Vag`viu ò Ibvlax Aggdedaoet: Awdhaoea gvì Hnblb UxèlA~enboka#Aeòìdeu Vauabven Doxavobxdòbc # w`c/6=22 #Vaxvdawah gvìnxx}: {{{/ndohb{d/eì j`qvobcu aeò 6=22 >7848= ò Jqct2#6=26

Bibha`# L/# .o/h/$# UxèlIbvlax Evbun #Vaxvdawah gvìnxx}: quaeòìt/bf`qx/eì `h kcùubvt k IbvlaxPEvbun/nxi ò Jqoa66#6=26

Fa}bvd# I/# L/# ' I`ccdl# B/# .o/h/$/FBOKCBHAUN UX@EL IBVLAX KV@[DOK0 LAT DOHDEBX@VU FBUAH BUUAUUIAOX

Fnqdtbo# L/# .6=22 $#Uibcc dowaux`vu— bokav ibt xqvo dox` fdk duuqa" Vaxvdawah gvìnxx}: {{{/a)hdvxu/eì 6=2= uibcc)dowaux`vu!A6!>=!44)bokav)ibt)xqvo)dox`)fdk)duuqa ò Jqct2#6=26

En`{hnqvt# U/# X/# .6=22 $#Hnblb dowaux`vu gaac xna }bdo #Vaxvdawah gvìnxx}: {{{/bxdiau/eì bxdiau U`qxnPBudb IB28Hg=6/nxic ò Jqoa66 #6=26

E]H# .6=22 $#Doha}aohaox Vawda{ `g Fbokcbhaun—u Hawac`}iaox .DVFH$ #Vaxvdawah gvìnxx}: {{{/e}h/`vk/fh h`{oc`bhu DVFH!6=GT22PGdvux!6=Vabhdok/}hg ò Jqct21#6=26

Aeòìt {bxen# .6=2= $#B Fvdag Doxv`hqexdò x` xna Hnblb Uxèl A~enboka #Vaxvdawah gvìnxx}: {{{/aeòìt{bxen/eì uxèla~enbokau hnblb/nxic ò Jqct21 #6=26

Kqvqubit# U/# .6==4$#Eb}dxbc Ibvlaxu# 6oh ahdxdò# Xbxb)IeKvb{ Ndcc }qfcdebxdòu/

Nbuubo# I/# L/# Ducbi# B/# I/# ' Fbunav# U/ B/# .6===$# IbvlaxAggdedaoet# Xdia)WbvtdokW`cbxdcdxt boh Arqdxt Vaxqvou do Fbokcbhaun Uxèl Ibvlax/

Nbrqa# I/ U/# .o/h/$# Vaeaox uxèl ibvlax evbun do Fbokcbhaun#Vaxvdawah gvìnxx}: {{{/oqf/be/fh vaeaox)uxèl)ibvlax)evbun)do)fbokcbhaun){vòk)udkobcu)gvì)

vau}òudfca)rqbvxavu)udoea)xna)exk)ebquah)xna)buuax)}vdea)fqffca ò Jqct2#6=26



Nùubdo# I/# X/# .6=22 $#Uxèl ibvlax evbunau `g 2447 boh 6=22 #Vaxvdawah gvìnxx}: {{{/nb{lav/eì/fh oa{uPhaxbdcu/}n}0oa{uPdh9285486'oa{uP

ebxak`vtPdh928'wbcPcbo9 ò Jqct2#6=26

Lnbcah L/ D/# .6=22 $#Dowauxdkbxdò va}`vx `g ]v`fa Eìidxxaa /

Lnbo ax bcc# .6==4$#B un`vx wda{ ò Dohdeau `g Hnblb Uxèl A~enboka /Vaxvdawah gvìnxx}: {{{/uevdfh/eì hè 1>7;1>22 HUA)Dohdeau)@wavwda{ ò Jqct21 #6=26

Vbnibo# J/# .6=22 $/ Unbva Ibvlax Fqffca ― xna Fdk ]dexqvaVaxvdawah gvìnxx}: h}{vdxavu/{`vh}vauu/eì 6=22 =6 =8 unbva)ibvlax)fqffca)xna)fdk)}dexqva ò Jqct21 #6=26

Vbdub# B/# .6=22 $/Fandoh xna Ueaoau xna Uxèl Ibvlax Ubkb /

Vaxvdawah gvìnxx}: {{{/xnahbdctuxbv/oax ibkbzdoa 6=22 =2 =5 e`wav/nxi ò Jqct21#6=26

Vbundh# I/# .6==>$/ Xna }`xaoxdbc `g xna Fbokcbhaun Eb}dxbc Ibvlax/Vaxvdawah gvìnxx}: {{{/xnahbdctuxbv/oax g`vqi 6==> ibt }`xaoxdbc/nxi ò Jqct2#6=26

Uen{avx# K/# .24>4 $/ Ibvkdo varqdvaiaoxu boh uxèl w`cbxdcdxt/ J`qvobc `g Gdoboedbc Uavwdeau Vauabven # w`c)5#215 )278 /

Qccbn# B/ G/ I/ B/# .6=22 $/Eb}dxbc Ibvlax do Fbokcbhaun /

Vaxvdawah gvìnxx}: {{{/uevdfh/eì hè 15;16148 Va}`vx)ò)Fbokcbhaun)Eb}dxbc)Ibvlax ò Jqct21# 6=26

a qualitative analysis on the ups and downs in the capital market of bangladesh (2010-2011)

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