BNM 2011-7

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    @]]G 32>9/6>>6 "Vz`gt)@]]G 32>9/=:11 "MD)

    JJ@@JJLL@@HHIIZZCCAA@@CC

    GGCC@@HHGGCCLLCCOOHHLLDDHHQQNN@@

    Gz 9:633

    MGMOMb``g~ :633

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    O@G@]TZP HA M^LT^ZNGCT@HGCLJHHE MBCOJNZ HA TBN ZNV^JL@M HA OHLDHQC

    Gct`hgcl J`jl`hizcvbpha Ohldhqc

    Jhhe}' Cj}tzcmt}' Tbn}`}'Ocic{`gn cgd gny}vcvnz czt`mln}

    V~jl`}bnd azho 30>2@}}~nd hgmn c ohgtb

    :633Gz 9

    GJMOMb``g~ :633

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    O@G@]TNZ^LM^LT^Z@@MCONZC GC@HGCL C MZ@@ D@G ZNV^JL@MC OHLDHQC

    J`jl`hizca`c Gc`hgcl

    c Ohldhqn`

    Mz`' C~thznanzctn' Tn{n'Czt`mhln d`g znq`}tn ` {`czn

    ]n nd`tnc{ d`g cg~l 30>2Cvczn l~gcz

    :633Gz 9

    MGMOMb``g~ :633

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    Clmt~`thz` ; Qclngt`gc MB@THZHCIZngctc MH[HGCMHln}nc [CJ@CMHMlc~d`c JI^G`gc O@MBNZ@GL~do`lc MHZIBNGM@

    Tct`cgc D@CMHG^

    Zndcmthz zn}vhg}cj`l ` mhhzdhgcthz; Qclngt`gc MB@THZHCI

    Dn}`ig, tnbghzndcmtczn mhov~tnz`{ct; Zngctc MH[HGCM

    DN]MZ@NZNCM@V CMCONZN@ GC@HGCLN CMZ@@

    J`jl`hizca`c Gc`hgcl c Ohldhqn` ? Gct`hgcl J`jl`hizcvbp haOhldhqc ; Mz`' C~thznanzctn' Tn{n' Czt' d`g znq' ` {`czn' Zn}~z}n nlnmtzh/g`mn ; ]n nd' d`g cg~l 30>2 ; Cvczn l~gcz ( Mconzc Gc' c Mz`` d`g Znv'Ohldhqc 5 clmt' ; Qclngt`gc Mb`thzhci, Zngctc Mh{hgcm, Hln}nc [cj`cmhUnt cl'_ 5 znd' zn}v' ` mhhzd' ; Qclngt`gc Mb`thzhci 5 dn}`ig ; Zngctc Mh{h/gcm' Mb' ; Mconzc Gc' c Mz``, :636 "Qcl`gnr ]C)' @]]G 32>9/6>>6'

    @]JG 092/009>/09=6/=/2'Gz 9, :633' :633' 391 v' Tnrtn ; lj' zho', z~}, cltn lj' }tz`gn'

    >6 nr' @]JG 092/009>/40/612/0 "Vz`gt)' @]JG 092/009>/40/6=4/4"MD)'

    63>"492)

    Mconzc Gc`hgcl c Mz``d`g Znv~jl`mc Ohldhqc, :633

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    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    >

    MZHG@MC MZ@@

    ]N ND@TNC[ D@G CG^L 30>2

    JHHE CGGCL]

    V^JL@]BND AZHO 30>2

    @^L@N

    :633GZ 9

    "3613/3:46)K^LP

    6 INGNZCL@T@

    66JC[NLN INGNZCLN CLN M^GHCTNZ@@ @ M^LT^Z@@

    664 t``gc ` tnbghlhi`c mclm~lcthcznlhz' Vznl~mzcznc dctnlhz

    3613' Mh}tc, @l`nTnbghlhi`` dn vzhmn}czn c `gahzoc`n` nmhgho`mn ; Uvngtz~ ~{~l }t~dng`lhz_ ( @l`n Mh}tc 5Cmcd' dn ]t~d`` Nmhg' d`g Ohldhqc' Mb' ; C]NO, :633' :2: v' ; a`i', tcj' 5 :6 mo'

    J`jl`hiz'; v' :26/:23 "39 t`t'' 366 nr'@]JG 092/009>/9>/>>=/>'U:633/3::=_'/ / 3' @gahzoc`n nmhgho`m Tnbghlhi`` dn vzhmn}czn' :' Tnbghlhi`` dn vzhmn}czn @g/

    ahzoc`n nmhgho`m'664'1>;==6'49"69>'2

    361:' Nlcjhzcznc JD m~ ck~thz~l ]IJD Cmmn} ; L~mzz` dn lcj' ( G`mhlcn Vzhdcg,Gctcl`c Cvntz``, Mlc~d`c Ic`d~ Unt cl'_ 5 ^g`q' dn ]tct d`g Ohldhqc, Acm' dn t``gn Nmhg',Mctndzc Mhgtcj`l`tctn ` `gahzoct`m Nmhg' Mb' ; MNV ^]O, :633' 36:, U3_ v' ; dn}', tcj' 5:6 mo'

    J`jl`hiz'; v' 363 ":: t`t'' >6 nr'@]JG 092/009>/93/3:3/6'U:633/3:31_'/ / 3' Jc{n dn dctn "JD) Vzh`nmtczn Mznczn'

    664'1>"691'>

    662 M`q`l`{c`n' M~lt~z' Vzhizn}

    361=' Vhl`t`m`ln m~lt~zcln lhmcln mc }t`o~lngt cl }mb`ojz`` ? ; ( N~zhvncg M~lt~zcl Ah~gdct`hg 5 zn}v' dn nd';D`cgn Dhdd' Mb' ; Czm, :633 "Mhoj`gct~l Vhl`iz'' 132 v' ; a`i', tcj' 5 :4 mo'

    T`t', tnrt, m~vz`g} vczcl'; lj' zho', z~}' J`jl`hiz'; v' :4=/:42 lc }az`t~l mcv' ` g ghtn/ln dn }~j}hl' >66 nr'

    @]JG 092/009>/13/133/0'U:633/3332_'/ / 3' M~lt~z Znv~jl`mc Ohldhqc Vhl`t`m` "zho', z~})' :' Vhl`t`m` m~lt~zcln Znv~jl`/

    mc Ohldhqc "zho', z~})'662"492?3=>'3?313'3

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    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    1

    3614' Zcvhzt dn Nqcl~czn c Vctz`ohg`~l~` M~lt~zcl Ohldhqc ? Bnz`tcin C}}n}}ongtZnvhzt Ohldhqc ; Vzhiz' Zni`hgcl @g``ct`qc E`nq ; Vzh`nmt V`lht :; *Zncj`l`tcznc Vctz`ohg`~l~`M~lt~zcl g Hzcnln @}thz`mn* "VV: ( Mho`}`c N~zhvncg, Mhg}`l`~l N~zhvn` 5 tzcd'; ]tnlcJhcg, @~l`c Vh}t`m' Mb' ; Vhgth}, :633 "*T`vhiz' Znmlcoc* ]C' >=, U3_ 5 >=, U3_ v' ; aht',

    tcj' 5 :: mo'T`t', tnrt vczcl'; lj' zho', ngil' Vci`gc`n vczcl' Mcztn/qclnt "**' J`jl`hiz' g ghtnln dn }~j}hl' Cvczn m~ }vz`k`g~l a`gcgm`cz cl Mhg}`l`~l~` N~zhvn`, Mho`}`n`N~zhvngn' :66 nr'

    @]JG 092/009>/>3/:>9/:'U:633/3320_'/ / 3' Vctz`ohg`~ m~lt~zcl Znv~jl`mc Ohldhqc Zncj`l`tczn Zcvhzt "zho', ngil')'

    662"492"649?3=>'3?333

    63J@JL@HIZCA@N'MCTCLHCIN

    361>' @cgh ~zmcg~ ; Uvhnt_ ; J`hj`jl`hizca`n ( J`jl' O~g`m`vcl *J' V' Bc}dn~*, A`l`clcTzcg}`lqcg`c, Mngtz~l dn @gahzoczn ` Dhm~ongtczn, Mb``g~' Mb' ; *Izcanoc L`jz`}* ]ZL,:633' 324 v' ; `l', aht' 5 :3 mo'

    :66 nr'@]JG 092/009>/>:/331/3'U:633/3:4>_'/ / 3' @cgh ~zmcg~, 30>3/, vhnt J`hj`jl`hizca`n' :' L`tnzct~z zhog d`g Znv~jl`mc

    Ohldhqc @gd`m` j`jl`hizca`m`'631;U2:3'3=>'3"492'60%0:0 ~zmcg~_

    3611' Ohd~} mhi`tcgd`, ohd~} q`qngd`' Lcz`}c M~{gnhq ]nmz`nz~ ; Dhmthz bcj`l`tct gvndcihi`n, vzha' ~g`q' ; J`hj`jl`hizca`n ( ^g`q' Vndcihi`m dn ]tct *@hg Mzncgi*, J`jl' t' 5nlcj'; ]qntlcgc J~zlcm~, [`ghq`c Z~}}~, ]`lq`c [cbczhq 5 znd' t'; Tct`cgc Mcllh 5 znd' j`jl`hiz';Qclngt`gc Mb`thzhci 5 nd' giz`k`t dn; Nmctnz`gc ]mbnzlnt' Mb' ; ]' g', :633 "T`vhiz' *Vz`onrMho* ]ZL' 02 v' ; aht', U3_ a' vhztz' 5 :3 mo'

    366 nr'@]JG 092/009>/4:60/=/2'U:633/3:64_'/ / 3' V}`bhvndcihi`n @gd`m` j`jl`hizca`m`' :' M~{gnhq, Lcz`}c, 30>3/, vndcihi J`/

    hj`jl`hizca`n'631;U=9'63>'=%0:0 M~{gnhq_

    3619' vcm, @hgCmcdno`m`cg~l Mhg}tcgt`g Vhvhq`m`' ]cqcgt, }mz``thz, v~jl`m`}t ?

    ' , , ; Mnzmntz` j`hj`jl`hiz' ` `gahzoct`qn ( @hg vcm 5Cmcd' dn t``gn c Ohldhqn`, @g}t' Vctz`ohg`~l~` M~lt~zcl, J`jl' t' Mngtzcl *C' L~vcg*' Nd' c:/c znq' ` mhovl' Mb' ; *Nlcg @GM* ]ZL, :636 "T`vhiz' *Nlcg Vhl`izca* ]ZL' =62 v', U=:_ v'; aht', aht' mhlhz 5 :3 mo' "]mz`nz` cln}n 5 Qhl' 3>, @]JG 092/009>/11/610/='

    T`t' vczcl'; lj' zho', z~}' Tnrtn; lj' zho', z~}' =66 nr'@]JG 092/009>/11/39=/9 "g mhv' tczn'U:633/3:46_'/ / 3' Vhvhq`m`, Mhg}tcgt`g, 30:4/:636, cmcdno`m`cg, }mz``thz "zho', z~})'

    631;U2:3'3=>'3"492'6%0:0_?3=>'3?313'3

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    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    9

    3612' vcm, @hgMhg}tcgt`g ]tnzn }mz``thz~l, v~jl`m`}t~l, vhl`t`m`cg~l, k~z`}t~l, ho~l ; J`hj`jl`hizca`n/`gq`tc`n

    lc lnmt~z` ` `gqn}t`ic`` ( @hg vcm 5 znd' t'; Bczlcoj`n Mhzj~ 5 nd' giz`k`t dn C~znl`c Bcgicg~5 Cmcd' dn t``gn c Ohldhqn`, J`jl' t' Mngtzcl *Cgdzn` L~vcg* c CO, @g}t' dn A`lhlhi`n cl

    CO' Mb' ; ]' g', :633 "A'N'/V' *T`vhiz' Mngtzcl*' 4:3, U3_ v' 5 :> mo'J`jl`hiz' lc }az`t~l czt' ` g ghtnln dn }~j}hl' Cddngdc "`gml~dn l~mzz` cln l~` M' ]tn/zn; v' :02/430' Cvczn m~ }vz`k`g~l a`gcgm`cz cl ^g`q' dn ]t~d`` Vhl`t`mn ` Nmhg' N~zhvngn*Mhg}tcgt`g ]tnzn*' >66 nr'

    @]JG 092/009>/92/029/> "g mhv' tczn'U:633/339:_'/ / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc @gd`m` j`jl`hizca`m`' :' ]tnzn, Mhg}tcg/

    t`g, 321> 30=1, }mz``thz, vhl`t`m`cg J`hj`jl`hizca`n'631;U2:3'3=>'3"492'60%0:0 ]tnzn_

    6:J@JL@HTNMHGHO@N

    3610' ^g`qnz}`tctnc L`jnz @gtnzg' d`g Ohldhqc' ]povh}`c @gqn}t`ict`h J`jl`htbnmc ;Cg~cz ( d`z' v~jl'; Cgdzn` Icljng 5 znd' zn}v'; L~do`lc Mhzibngm` 5 cj}tzcmtn g lj' ngil';[`gc`dc ]hmb`zm 5 ^g`q' L`jnz @gtnzg' d`g Ohldhqc, Dnv' @gahzoc`hgcl J`jl`htnmhgho`m' Mb'; ^L@O, :633' :4 mo'

    :633' :633' 369 v' ; a`i', tcj' Tnrtn; lj' zho', ngil', z~}' Zn{'; lj' zho', ngil' J`jl`hiz' lc }az`t~l czt' >6 nr' @]JG 092/009>/363/10/3' U:633/332=_'

    / / 3' ^g`qnz}`tctnc L`jnz @gtnzgc`hgcl d`g Ohldhqc ]povh}`c @`gqn}t`ict`hJ`jl`htbnmc "zho', ngil', z~})'

    6:;=92'4"492/:>"62:?3=>'3?333?313'3

    696 [`cz`}t`m' Vzn}3696' Ihi~, Gcd`gn]t`o~lcznc igd`z`` mz`t`mn c k~zgcl`t`lhz ; D`lnon nt`mn ` nd`thz`cln ; ]t~d`` dn mc{ d`g

    oc}}/ond`c d`g Znv' Ohldhqc ( Gcd`gn Ihi~, Vntz~ Ocmhqn`, @hg J~gd~mb` 5 mhhzd'; D~o`tz~Lc{~z' UMb' ; ]' g', :633_ "T`vhiz' *Jhg} Haa`mn}*' 19 v' 5 :4 mo'

    C~t' }~gt `gd`mc` vn q}' a' dn t`t' Cvczn m~ }vz`k`g~l a`gcgm`cz cl Vzhiz' Mho~g cl ^g`~g``N~zhvngn ` Mhg}`l`~l~` N~zhvn` *]~}`gnznc Dnohmzc`n` g Ohldhqc*' 3666 nr'

    @]JG 092/009>/26/492/='U:633/334>_'/ / 3' Oc}}/ond`c Znv~jl`mc Ohldhqc ]t~d`` dn mc{'

    696"492

    62VHL@IZCA@@'L^MZZ@ MHLNMT@QN

    3693' ^g`qnz}`tctnc Mhhvnzct`}t/Mhonzm`cl d`g Ohldhqc' Cgclnln t``g`a`mn cln^g`qnz}`t`` Mhhvnzct`}t/Mhonzm`cln d`g Ohldhqc ; Ug qhl'_ ( OHLDMHHV, ^g`q' Mhhvnzct`}t/Mhonzm`cl d`g Ohldhqc 5 mhl' znd' T~dhz Oclnmc "znd'/na, Qc}`ln Jhtgczm`~m, ]nzi`~Vntzhq`m`' Mb' ; ^MMO, :633' :0 mo' @]JG 092/009>/460>/6/1' @]]G 32>9/3:=0'

    Qhl' 2' :633' =1= v' ; a`i', tcj' Tnrtn; lj' zho', ngil', z~}' Zn{'; lj' ngil', az' J`jl`hiz' lc }az`t~l czt' ` g ghtnln dn }~j}hl' 16 nr' @]JG 092/009>/43:2/0/1' U:633/3369_'

    / / 3' ^g`qnz}`tctnc Mhhvnzct`}t/Mhonzm`cl d`g Ohldhqc Cgcln "zho', ngil', z~})'

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    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    2

    62:;=92'1=="492/:>?3=>'3?333?313'3

    369:' Qhl' 0 ; Vt' 3' :633' ==9, U3_ v' ; a`i', tcj' Tnrtn; lj' zho', z~}' Zn{'; lj'ngil' J`jl`hiz' lc }az`t~l czt' ` g ghtnln dn }~j}hl' >6 nr' @]JG 092/009>/4:69/=/6' U:633/3364_'

    / / 3' ^g`qnz}`tctnc Mhhvnzct`}t/Mhonzm`cl d`g Ohldhqc Cgcln "zho', z~})'62:;=92'1=="492/:>?3=>'3?313'3

    3 A@LH[HA@N' V]@BHLHI@N

    3(34A@LH[HA@N

    369=' O`zhl`~jhq, Tz`acgHo~l; v~tnznc ` vhl`t`mc ; "Ho~l }~j`nmt cl v~tnz`` ` hj`nmt cl vhl`t`m`` ( Tz`acg

    O`zhl`~jhq, ]`lq`c Mhzltncg~ 5 ]hm' t' *Ho~l ` ~g`qnz}~l*, Lcj' dn bhohlhi`n' Mb' ; *Lcj`/z`gt/M~tc}nq`m`* @, :633' 393, U3_ v' ; a`i' 5 :3 mo'

    Zn{'; lj' zho', z~}' J`jl`hiz'; v' 31>/393 ` g ghtnln dn }~j}hl' >6 nr'@]JG 092/009>/042/>3/9'U:633/33:2_'/ / 3' Ho~l ` vhl`t`mc'

    3(34%=:

    3694' , ; " ( "' U' ;

    ' '_ 5 ; ' ', :633 "A'N'/V' *T`vhiz' Mngtzcl*' 4:= v' ; dn}' 5 :6 mo'J`jl`hiz'; v' 430/4:=' ' ' ' 36:6 nr'@]JG 092/009>/92/02>/3'

    U:633/33>1_'/ / 3' Mb`zhocg`n "z~})'

    3=='1"69>

    , ' ' ' Qn{`Gz 362:'

    39NT@M'A@LH[HA@N OHZCL'A@LH[HA@N VZCMT@M

    369>' L~gi~, Q`hznl`cNt`mc vzhan}`hgcl ; ]~vhzt dn m~z} ( Q`hznl`c L~gi~ 5 ^g`q' dn ]tct d`g Ohldhqc, Acm'

    dn V}`bhlhi`n ` t``gn cln Nd~mc`n`, Mctndzc t``gn cln Nd~mc`n`' Mb' ; MNV ^]O, :633' 30:, U3_ v' ; a`i', tcj' 5 :6 mo'>6 nr'@]JG 092/009>/93/36=/1'U:633/3:36_'/ / 3' Nt`mc vzhan}`hgcl'

    394"69>'2

    : ZNL@I@N' TNHLHI@N

    :=ZNL@I@@ @GD@NGN

    3691' ,

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    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    0

    ; ( ' ' :/' ' ; Vhgth}, :633 "*T`vhiz' Znmlcoc* ]C' 4:, U3_ v'; aht'5 :6 mo'

    >66 nr'

    @]JG 092/009>/>3/:>>/2'U:633/3322_'/ / 3' ]~alnt~l ` znl`i`` `gdh/n~zhvngn "z~})'

    :==/2>:'>

    :9MZNT@G@]O'ZNL@I@N MZNT@G

    3699' Yb`tn, Nllng I'M~intz` dn vn O~gtnln Anz`m`z`lhz ( Nllng I' Yb`tn 5 J`}nz`mc Cdqngt`}t dn [`~c c cv/

    tnc O`mcznc dn Znahzo' Mb' ; ]' g', :633 "A'N'/V' *T`vhiz' Mngtzcl*' 03 v' :3 mo'1666 nr'

    @]JG 092/009>/92/00:/0'U:633/3316_'/ / 3' @}~} Mz`}th} J`gnm~qgtz`'

    :9/922/4:2;:90'3

    3692' @dno g lj' z~}; ' ' ; ' ', :633 "A'N'/V'*T`vhiz' Mngtzcl*' 00 v' 5 :3 mo'

    9666 nr'@]JG 092/009>/92/00=/1'U:633/3313_'/ / 3' @}~} Mz`}th} J`gnm~qgtz` "z~})'

    :9/922/4:2;:90'33690' , , ; "

    / : ( "' U' ; ' '_ 5 ; ' ', :636"A'N'/V' *T`vhiz' Mngtzcl*' 329 v' 5 :6 mo'

    ' ' ' >66 nr'@]JG 092/009>/92/021/2'U:633/33>9_'/ / 3' Nr`}tngc l~` D~ogn{n~ "z~})' :' Ntnzg`tctn "z~})'

    :9/:0

    = T@@GN ]HM@CLN

    =6TNHZ@@, ONTHDHLHI@N @ ONTHDN G T@@GNLN ]HM@CLN

    =6= Onthdn cln t``gnlhz }hm`cln

    3626' Jcz`nzn dn `gml~{`~gn }hm`cl c vnz}hcgnlhz m~ d`{cj`l`t` d`g Znv~jl`mc Ohldh/qc ; ]t~d`~ }hm`hlhi`m ( Mngtz~l dn C}`}tng K~z`d`m vngtz~ vnz}hcgn m~ D`}cj`l`t` 5 nlcj' dnVczc}mhq`c O~gtncg~ 5 mhg}~ltcg`; G`mhlcn ]cdhqn`, @hg M`jhtcz`m' Mb' ; ]' g', :633"T`vhiz' *ci`~}/Izca`m* ]ZL' 14 v' ; a`i' mhlhz, tcj' 5 =6 mo'

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    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    36

    J`jl`hiz' g ghtnln dn }~j}hl' Cvczn m~ }vz`k`g~l a`gcgm`cz cl Cing`n` vngtz~ Dn{qhltczn@gtnzg' "^]C@D g mcdz~l Vzhiz' CND Mhg}hl`dcznc ]hm`nt`` M`q`ln g Ohldhqc "OM]]V' 366 nr'

    @]JG 092/009>/4::9/6/='

    U:633/3:4=_'/ / 3' Vnz}hcgn m~ d`{cj`l`t` ]t~d`~ }hm`hlhi`m'=6='4:>;=14':

    =3]TCT@]T@M'DNOHIZCA@N']HM@HLHI@N

    =31 ]hm`hlhi`n

    =31'=('4 ]tz~mt~zc }hm`cl' ]hm`ntctnc mc }`}tno }hm`cl' Vzhmn}n }hm`cln

    3623' Mhzm`ocz, GcdnkdcYbp ght oczzp cg Nc}tnzg N~zhvncg yhocg8 ( Mhzm`ocz Gcdnkdc' Mb' ; UMNV ^]O_,

    :633' >: v' ; dn}' mhlhz, tcj' 5 :3 mo'366 nr'@]JG 092/009>/93/3:6/='36 n~zh' U:633/3:41_'

    =31'=41':/6>>':

    =31'1 V}`bhlhi`n }hm`cl

    362:' , ' ' ( ' ' ' ' ;

    U*M~g`z ! Mh* ]ZL_, :633 "A'N'/V' *T`vhiz' Mngtzcl*' :0: v' ; tcj', U2_ v' aht' 5 :6 mo'J`jl`hiz'; v' :23 "3: t`t' ` g ghtnln dn }~j}hl' 366 nr'@]JG 092/009>/0041/2/:'U:633/3396_'/ / 3' ]hm`cl`{cznc vnz}hgcl`t`` "z~})'

    =31'13%3=6'=3

    =:VHL@T@M

    362=' Ngmnl, Azdz`mHz`{hgt~z` inhvhl`t`mn ( Azndnz`m Ngmnl 5 tzcd' d`g az' dn Cdz`cg M`~jhtcz~' Mb' ; Mczt`nz,

    :633 "A'N'/V' *T`vhiz' Mngtzcl*' :3> v' 5 :3 mo' "Mhlnm`c *Mczt`nz `}thz`m* ( mhhzd' dn@gic Dz~'

    T`t' hz`i'; Bhz`{hg} Ihvhl`t`s~n}' J`jl`hiz'; v' :6=/:6> ` g ghtnln dn }~j}hl' @gd'; v':61/:3>' >36 nr'

    @]JG 092/009>/90/12=/> "g mhv' tczn'U:633/3314_'/ / 3' Inhvhl`t`m'

    =:

    O`tzhl`~jhq, Tz`acg' Ho~l; v~tnznc ` vhl`t`mc' Qn{` Gz 369='

    =:= Vhl`t`m `gtnzg

    3624' ,

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    11/176

    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    33

    ; U' '/' _ ( 5 '; ' ' ' ; *]tzct~o Vl~}* VV, :633 "A'N'/V' *T`vhiz' Mngtzcl*' 144 v' ; `l', aht' 5 :3 mo'

    @gd`mn M[^ tznm~t nzhgct vn mcztn' J`jl`hiz' g ghtnln dn }~j}hl' >66 nr'

    @]JG 092/009>/4690/3/>'U:633/339=_'/ / 3' Vhl`t`m `gtnzg Znv~jl`mc Ohldhqc "z~})'

    =:=(=:4"492

    =:9 Znlc`` `gtnzgc`hgcln' Vhl`t`m `gtnzgc`hgcl' Vhl`t`m nrtnzg

    362>' , ' ' ; ; ' /

    ' ( ' ' 5 ' ' /, ' / , ' ' ' ; MNV ^]O, :633' 340, U3_ v' 5 :6 mo'

    J`jl`hiz'; v' 34=/341 ` g ghtnln dn }~j}hl' >6 nr'@]JG 092/009>/93/369/4'U:633/3:39_'/ / 3' ^g`~gnc N~zhvncg @}thz`n "z~})'

    =:9;613^N"69>'2

    ==NMHGHO@N'T@@GN NMHGHO@MN

    ==6 Nmhgho`n g ingnzcl' Nmhgho`n vhl`t`m

    3621' A`l`v, GnllpTnhz`c nmhgho`m ; "m~z} ~g`q' ( A`l`v Gnllp, Hlic ]hzhmncg' Mb' ; ]' g', :633 "T`vhiz'

    *Vz`onr Mho* ]ZL' :3 mo' @]JG 092/009>/4:60/3/4'Qhl' :' :633' =43 v' ; a`i', }mbnon, tcj' J`jl`hiz'; v' =46/=43 ` g ghtnln dn }~j/}hl' :66 nr' @]JG 092/009>/4:60/:/3' U:633/3:6=_'

    / / 3' Tnhz`n nmhgho`m'==6'23"69>'2

    3629' , ' ' ; ** ' /

    ( ' ' ' ' ; ' ', :633 "'' ==2, U3_ v' ; tcj' 5 :> mo'J`jl`hiz'; v' ==4/==0 "01 t`t' ` g ghtnln dn }~j}hl' >6 nr'@]JG 092/009>/4390/=/2 "g mhv' tczn'

    U:633/3::9_'/ / 3' Dhmtz`g nmhgho`m oczr`}t "z~})'

    ==6'2>:

    ==3 O~gm' Znlc`` dn o~gm' Nmhgho`c o~gm``' Hzicg`{cznc o~gm``

    3622' Gnmn}`t`ln }vnm`a`mn cln mhv``lhz ` qz}tg`m`lhz l}c` az giz`k`znc onojz`lhzdn aco`l`n vlnmc` lc o~gm vn}tn bhtczn ; U}t~d`~_ ( c~t'; D`cgc Mbn`cg~/Cgdzn` "mhhzd', Zhd`/mc Izcooc, ]tnlc O`l`mngmh Unt cl'_ 5 Hzi' @gtnzg' vngtz~ O`izc`n "H@O, Cing`c Mnb vngtz~Dn{qhltczn, Ahgd~l HG^ vngtz~ Vhv~lc`n "^GAVC' Mb' ; MNV ^]O, :633' :>3, U3_ v' ; `l'mhlhz, tcj' 5 :> mo'

    Cvczn m~ }vz`k`g~l a`gcgm`cz cl ^N, Cing`n` Mnb vngtz~ Dn{qhltczn vz`g `gtnzond`~lMcz`tc} Znv' Mnb ` Ahgd~l~` HG^ vngtz~ Vhv~lc`n g Ohldhqc "^GAVC' =66 nr'

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    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    3:

    @]JG 092/009>/93/3:4/3'U:633/3:30_'/ / 3' O`izc`c ahzn` dn o~gm' :' Ck~thz }hm`cl Mhv`` Qz}tg`m`'

    ==3'>>1'4;=14

    ==4 Ahzon dn hzicg`{czn ` mhhvnzczn g cmt`q`tctnc nmhgho`m3620' Qnznkcg, G`mhlcnOcgcinongt~l z`}m~z`lhz g cacmnz` ; "}~vhzt onthd`m ( G`mhlcn Qnznkcg 5 Cmcd' dn

    Tzcg}vhzt~z`, @gahzoct`m ` Mho~g`mc``' Mb' ; Nqz`mc, :633 "T`vhiz' CO' 01 v' ; a`i', tcj'5 :6 mo' "]nz`c ; Ocgcinongt ` Oczent`gi'

    J`jl`hiz'; v' 0>/01' :>6 nr'@]JG 092/009>/043/93/1'U:633/3304_'/ / 3' Cacmnz` Ocgcinongt~l z`}m~z`lhz'

    ==4'63:':"69>'2

    3606' , ; (

    , 5 '; , 5 /' ' ' ' :/' ' ; *Iczhohgt ]t~d`h* ]ZL, :633' 399, U=_ v' ; tcj' 5 :6 mo'

    ' ' ' "I(T@V, ' ' 3666 nr'

    @]JG 092/009>/4::=/4/>'U:633/3:16_'/ / 3' Cgtznvznghz`ct "z~})'

    ==4'63:"691==1 A`gcgn

    3603' J~d`cg}mb`, D~o`tz~@gqn}t`icznc tzcg}vczngn` ` na`m`ngn` nmhgho`mn c ~t`l`{z`` Ahgd~z`lhz Nmhlhi`mn g

    Znv~jl`mc Ohldhqc ; ]t~d`~ ( D~o`tz~ J~d`cg}mb`, Nlngc M~l`~m, Cdz`cg L~v~hz 5 Mngtz~lCgcl`t`m @gdnvngdngt Nrvnzt Iz~v' Mb' ; *Jhg} Haa`mn}* ]ZL, :633' 26 v' ; a`i', tcj' 5 :2mo'

    J`jl`hiz' g ghtnln dn }~j}hl' Cvczn m~ }vz`k`g~l a`gcgm`cz cl A~gdc`n` ]hzh} Ohldhqc' :66 nr'

    @]JG 092/009>/26/403/:'U:633/3346_'/ / 3' A`gcgn Nmhlhi`n Znv~jl`mc Ohldhqc'

    ==1;>6:(>64

    360:' In}t`~gnc a`}mcl ; ]~vhzt dn m~z} ( L~do`lc Mhj{cz`, D`cgc Mz`ml`qc`c, @gcJz~o Unt cl'_ 5 ^g`q' dn ]tct d`g Ohldhqc, Acm' dn t``gn Nmhg', Mctndzc A`gcgn ` Jgm`' Mb' ; MNV ^]O, :633' :41, U3_ v' ; a`i', tcj' 5 :6 mo'

    J`jl`hiz'; v' :33/:3>' >6 nr'@]JG 092/009>/93/3:2/0'U:633/3:32_'

    / / 3' In}t`~gn a`}mcl' ==1'::>"69>'2

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    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    3=

    360=' Znv~jl`mc Ohldhqc' ]nzq`m`~l A`}mcl dn ]tct' Vlcg~l dn dn{qhltczn c ]nzq`m`~/l~` A`}mcl dn ]tct ; vngtz~ cg`` :633/:63> ( ]nzq`m`~l A`}mcl dn ]tct cl Znv' Ohldhqc' UMb' ;*Mhgtn{c~z* ]ZL, :633_' >3 v' ; a`i', tcj' mhlhz 5 :4 mo'

    L`}tc dhm'; v' 44/4> "=4 t`t'' A' a' dn t`t' 3666 nr'

    @]JG092/009>/>>/669/0'U:633/333:_'/ / 3' ]nzq`m`~l A`}mcl dn ]tct cl Znv~jl`m`` Ohldhqc Vlcg dn dn{qhltczn, :633/:63>'

    ==1'::>':"492"62='0:

    3604' @dno g lj' ngil'; Tbn Dnqnlhvongt Vlcg ha Ohldhqc ]tctn Tcr ]nzq`mn ; ahz:633/:63>' UMb' ; *Mhgtn{c~z* ]ZL, :633_' >3 v' ; a`i', tcj' mhlhz 5 :> mo'

    L`}tc dhm'; v' 44/4> "=4 t`t'' A' a' dn t`t' 3666 nr'@]JG 092/009>/>>/662/1'U:633/333=_'/ / 3' ]nzq`m`~l A`}mcl dn ]tct cl Znv~jl`m`` Ohldhqc Vlcg dn dn{qhltczn, :633/:63>

    "ngil')'==1'::>':"492"62='0:

    360>' @dno g lj' z~} ; ; :633/:63>' UMb' ; *Mhgtn{c~z* ]ZL, :633_' >0 v' ; a`i', tcj' mhlhz 5 :> mo'

    L`}tc dhm'; v' >6/>3 "=4 t`t'' A' a' dn t`t' 3666 nr'@]JG 092/009>/>>/660/='U:633/3334_'/ / 3' ]nzq`m`~l A`}mcl dn ]tct cl Znv~jl`m`` Ohldhqc Vlcg dn dn{qhltczn, :633/:63> "z~/

    })'==1'::>':"492"62='0:

    ==2 ]`t~c`n nmhgho`m' Vhl`t`m nmhgho`m' Mhgd~mnznc nmhgho`n`' Vlcg`a`mcznc nmh/

    gho`n`' Vzhd~m`n' ]nzq`m``' Vzn~z`

    ==2"492) ]`t~c`c nmhgho`m c Znv~jl`m`` Ohldhqc

    3601' *C}vnmtn nmhgho`mh/a`gcgm`czn ` }hm`cln cln nmhgho`n` Znv~jl`m`` Ohl/dhqc g mhgtnrt~l tzcg}ahzoz`lhz }`}tno`mn ` `gtnizz`` g }vc`~l n~zhvncg*, mhga' t'`gtnzg' ":636 5 Mb``g~)' Octnz`clnln mhganz`gn` t``g`a`mn `gtnzgc`hgcln *C}vnmtn nmhgho`/mh/a`gcgm`czn ` }hm`cln cln nmhgho`n` Znv~jl`m`` Ohldhqc g mhgtnrt~l tzcg}ahzoz`lhz }`}tno`/mn ` `gtnizz`` g }vc`~l n~zhvncg*, :1/:9 gh`noj' :636 ( mhl' znd'; Cl' Iz`j`gmnc "znd' zn}v',

    @' Ng`mhq, I' ^l`cg Unt cl'_' Mb' ; MNV ^]O, :633' 960, U3_ v' ; a`i', tcj' 5 :0 mo'Cgtnt`t'; ^g`q' dn ]tct d`g Ohldhqc, Acm' dn t``gn Nmhg' Tnrtn; lj' zho', ngil', az', z~/}' Zn{'; lj' zho', ngil', az', z~}' J`jl`hiz' lc }az`t~l czt' >> nr'

    @]JG 092/009>/93/624/2'U:633/3:33_'/ / 3' *C}vnmtn nmhgho`mh/a`gcgm`czn ` }hm`cln cln nmhgho`n` Znv~jl`m`` Ohldhqc g mhg/

    tnrt~l tzcg}ahzoz`lhz }`}tno`mn ` `gtnizz`` g }vc`~l n~zhvncg* Mhganz`gc t``g`a`m `gtnzgc/`hgcl "zho', ngil', az', z~})'

    ==2"492"62:?66

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    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    34

    ==2'42 T~z`}o' Nmhgho`c t~z`}o~l~`

    3609' *Dn{qhltcznc t~z`}o~l~` lc gmnv~t~l }nm' RR@' T~z`}o~l ` j`hd`qnz}`tctnc*,mhga' t'/vzcmt`m `gtnzg' ":636 5 Mb``g~)' Dn{qhltcznc t~z`}o~l~` lc gmnv~t~l }nm' RR@'T~z`}o~l ` j`hd`qnz}`tctnc ; Mhga' t'/vzcmt`m `gtnzg', :9 }nvt' :636 ( mhl' znd' Cl' Iz`j`gmnc"znd' zn}v', Tn`o~zc{ ]bnginl`c, ]' Ocr`o`l`cg Unt cl'_' Mb' ; ^L@O, :633 "T`vhiz' *Vz`gt/Mczh* ]ZL' =23 v' ; d`ciz', a`i', tcj' 5 :6 mo'

    Cgtnt`t'; ^g`q' L`jnz @gtnzg' d`g Ohldhqc, @g}t' dn @gqn}t`ic`` ]tzctni`mn g Nmhg', Mctn/dzc *Nmhg' ` znlc`` nmhg' `gtnzg'*' Tnrtn; lj' zho', ngil', z~}' Zn{'; lj' ngil', az' J`jl`hiz'lc }az`t~l czt' 366 nr'

    @]JG 092/009>/363/13/>'U:633/3:40_'/ / 3' Dn{qhltcznc t~z`}o~l~` lc gmnv~t~l }nm' RR@' T~z`}o~l ` j`hd`qnz}`tctnc Mhgan/

    z`gc t``g`a`mh/vzcmt`m `gtnzgc`hgcl "zho', ngil', z~})'==2'42;U==0'0%16_"62:?3=>'3?333?313'3

    =4DZNVT'K^Z@]VZ^DNG=43 Dznvt `gtnzgc`hgcl

    3602' J`n~, C~znl]cgm`~g`ln gnnrnm~tz`` mhgtzcmt~l~` g dznvt~l mhonz~l~` `gtnzgc`hgcl ; Ohghizca`n (

    C~znl J`n~ 5 ^g`q' dn ]tct d`g Ohldhqc, Acm' dn Dznvt, Mctndzc @gtnzg' ` Dznvt cl Znlc``lhzNmhgho`mn Nrtnzgn' Mb' ; MNV ^]O, :633' =>6, U3_ v' ; }mbnon 5 :3 mo'

    J`jl`hiz'; v' ==:/==> "13 t`t' ` g ghtnln dn }~j}hl' >6 nr'@]JG 092/009>/93/33:/2'

    U:633/3:60_'/ / 3' Dznvt~l mhonz~l~` `gtnzgc`hgcl'=43'4;=49'44

    Ib`dg dhong`~l vzhohqz`` ` vzhtnm`n` dznvt~z`lhz vnz}hcgnlhz mczn tz`n}m m~ B@Q' Qn{` Gz 334>'

    =4: Dznvt v~jl`m' Dznvt mhg}t`t~`hgcl' Dznvt cdo`g`}tzct`q

    3600' @ovlnongtcznc ghzonlhz dznvt~l~` `gtnzgc`hgcl g lni`}lc`n gc`hgcl c Znv~/jl`m`` Ohldhqc ( Clnrcgdz~ J~z`cg, Clnrcgdz`gc Zhtcz~ J~lct, Mz`}t`gc J~z`cg Unt cl'_ 5 znd'

    mhhzd'; Clnrcgdz~ J~z`cg 5 @g}t' dn @}thz`n, ]tct ` Dznvt cl Cmcd' dn t``gn c Ohldhqn`, @g}t' dnMnzmnt' ]tzctni`mn cl ^g`q' dn ]t~d`` N~zhvngn d`g Ohldhqc, C}hm' dn Dznvt @gtnzg' d`g Znv'Ohldhqc' Mb' ; MNV ^]O, :633' =6=, U3_ v' ; a`i', tcj' 5 :1 mo'

    C~t' }~gt `gd`mc` vn q}' a' dn t`t' Tnrtn; lj' zho', z~}' Zn{'; lj' ngil' J`jl`hiz' lc}az`t~l mcv' ` g ghtnln dn }~j}hl' M~vz`g} vczcl'; lj' zho', ngil', z~}' :66 nr' "Vz`o~l lht9> nr''

    @]JG 092/009>/93/3=3/0'U:633/3:3>_'/ / 3' Lni`}lc`n gc`hgcl Dznvt~l `gtnzgc`hgcl @ovlnongtczn'

    =4:"492;=43

    3366' V~v{, Mz`}z`gc

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    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    3>

    Zndhjgd`znc mntng`n` zhogn dn lc C lc [ ; Ib`d ( Mz`}t`gc V~v{' Mb' ; *M`q`tc}/Vz`o* ]ZL, :633 "Mhoj`gct~l Vhl`iz'' 3:2 v' ; `l' 5 36 r 34 mo'

    =666 nr'@]JG 092/009>/4:=:/6/>'

    U:633/3:>4_'/ / 3' Mntng`n zhog Ib`d~z`'=4:'93"402"6=1

    ' Qn{` Gz 3::>'

    =4= Dznvt vngcl' Vzhmnd~z vngcl' Mz`o`ghlhi`n' Mz`o`gcl`}t`m

    3363' M`hjcg~, @ihz C'Mz`o`ghlhi`n ; Uvngtz~ ~{~l }t~dng`lhz_ ( @ihz C' M`hjcg~ 5 ^g`q' dn ]tct d`g Ohldhqc, Mc/

    tndzc Dznvt Vngcl ` Mz`o`ghlhi`n' UMb' ; ]' g', :633_ "A'N'/V' *T`vhiz' Mngtzcl*' >>0, U3_

    v' ; tcj' 5 :> mo'J`jl`hiz'; v' >=2/>4> ` g ghtnln dn }~j}hl' 3666 nr'@]JG 092/009>/92/09=/2 "g mhv' tczn'U:633/3394_'/ / 3' Mz`o`ghlhi`n'

    =4='0"69>'2

    336:' B~zlh`~, @hg @~l`cgOcgcinongt~l cmt`q`t`lhz dn vznqng`zn ` mhojctnzn c azc~dnlhz a`}mcln lc g`qnl `gtnzgc/

    `hgcl ( @hg @~l`cg B~zlh`~, Vntz~ @hg Zhmc 5 znd' zn}v'; Vntz~ Zhmc 5 ^g`q' L`jnz @gtnzg' d`gOhldhqc' Mb' ; ^L@O, :633 "T`vhiz' *Vz`gt/Mczh* ]ZL' :=> v' ; a`i', tcj' 5 :3 mo'

    J`jl`hiz'; v' :66/:33 "306 t`t'' => t`t'@]JG 092/009>/363/93/4'U:633/3:>3_'/ / 3' Azc~dn a`}mcln Vznqng`zn Mhojctnzn'

    =4='=>0':;==0'9

    336=' @gazcm`~g` m~ mczcmtnz tnzhz`}t, `gazcm`~g` mhgnrn tnzhz`}o~l~` ` ~gnln `gazcm`/~g` m~ mczcmtnz dn tnzhz`{czn ( Q`tcl`n ]l`, Q`tcl`n Czoc~, Cgcthl`n Dhgm`~ Unt cl'_ 5 znd' zn}v' `mhhzd' dn nd'; Q`tcl`n ]l` 5 @g}t' Gc' dn @gahzoc`` ` ]nm~z`tctn *Jhidcg, gtnon`nthz~l Ohldh/qn`*' Mb' ; *Iczhohgt ]t~d`h* ]ZL, :633' :=6 v' 5 :3 mo'

    J`jl`hiz'; v' :30/::0 ":34 t`t' ` g ghtnln dn }~j}hl' :66 nr'

    @]JG 092/009>/0226/4/0'U:633/3:13_'/ / 3' @gazcm`~g` m~ mczcmtnz tnzhz`}t'

    =4='=:1

    3364' Vzhjc`~gncg Znv~jl`mc Ohldhqc ; Zcvhzt dn ohg`thz`{czn ( @ihz Dhlnc, Q`mthz[cbcz`c, Qc}`ln Zhtcz~ Unt cl'_ 5 @g}t' dn Znahzon Vngcln' Mb' ; *Jhg} Haa`mn}* ]ZL, :633' 366 v' ; d`ciz' mhlhz 5 :4 mo'

    C~t' }~gt `gd`mc` vn mhv' Cvczn m~ }vz`k`g~l a`gcgm`cz cl Hzi' Hvng ]hm`ntp @g}t' >66nr'

    @]JG 092/009>/26/490/6'

    U:633/33=6_'

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    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    31

    / / 3' Vzhjc`~gnc g Znv~jl`mc Ohldhqc'=4='34"492"649

    =49 Dznvt m`q`l

    336>'

    Mnjhtcz`, Qclngt`gcC}vnmtn tnhznt`mn ` vzcmt`mn cln vznqndnz`lhz mhd~l~` aco`l`n` ; "Octnz`cl d`dcmt`mh/onthd`m vngtz~ cmt`q`t`ln vzcmt`mn lc d`}m`vl`gc Dznvt~l aco`l`n` ( Qclngt`gc Mnjhtcz`, Ibnhz/ibn O~, @hg Oclcgm`~m 5 ^g`q' dn ]tct d`g Ohldhqc, Acm' dn Dznvt, Mctndzc Dznvt M`q`l' Mb'; MNV ^]O, :633' 3>4, U3_ v' 5 :6 mo'

    J`jl`hiz' g tnrt ` g ghtnln dn }~j}hl' >6 nr'@]JG 092/009>/93/620/='U:633/3:3:_'/ / 3' Dznvt~l aco`l`n`'

    =49'1"69>'2

    3361' , ' ' ; ( ' ' 5 '/' ; ' ', ' ', ' ' U '_ 5 ' /, ' ' ' ' ;*Qcl`gnr* ]ZL, :633' :=3, U3_ v' 5 :6 mo'

    J`jl`hiz'; v' ::>/:=3 "49 t`t' ` g ghtnln dn }~j}hl' >6 nr'@]JG 092/009>/12/392/6'U:633/3:62_'/ / 3' Dznvt m`q`l "z~})'

    =49"69>'2

    =49':('= Dznvt~z` zncln' J~g~z` ` l~mz~z`' J~g~z` ohj`ln g ingnzcl

    3369' Qhlm`g}mb`, Q`mthzDznvt~z`ln zncln c}~vzc l~mz~z`lhz clt~`c ; Uohghizca`n_ ( Q`mthz Qhlm`g}mb`, Cdz`cg

    M`jhtcz~' Mb' ; ]' g', :633 "T`vhiz' ^MMO' =32 v' 5 :6 mo'J`jl`hiz'; v' :41/:>>' =66 nr'@]JG 092/009>/4:69/>/4'U:633/3690_'/ / 3' Dznvt~z` zncln "dznvt m`q`l)'

    =49':

    =40 Zco~z` }vnm`cln cln dznvt~l~`

    3362' ]cdhqn`, G`mhlcnD`bhtho`c zcvhzt~l~` k~z`d`m dn o~gm ; ]t~d`~ ohghiz' ( G`mhlcn ]cdhqn` 5 ^g`q' dn

    ]tct d`g Ohldhqc, Acm' dn Dznvt, Mctndzc Dznvt~l O~gm``' Mb' ; U*Iczhohgt ]t~d`h* ]ZL_,:633' :6= v' 5 :3 mo'

    J`jl`hiz'; v' 320/:6= ` g ghtnln dn }~j}hl' 366 nr'@]JG 092/009>/4::=/6/9'U:633/3:>9_'/ / 3' Dznvt~l o~gm``'

    =40':

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    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    39

    =>CDO@G@]TZC@N V^JL@M'CZT O@L@TCZ

    3360' Dh`mhq, Nmctnz`gcDn{qhltcznc vzhan}`hgcl c vnz}hgcl~l~` d`g c~thz`tctnc v~jl`m; `g}tz~`znc `gtnzg ; Ib`d

    onthd`m ( Nmctnz`gc Dh`mhq, Tcoczc Ibnhzib`c 5 Mcgmnlcz`c dn ]tct c Znv' Ohldhqc, D`znm`cvhl`t`mc dn mcdzn' Mb' ; ]' g', :633 "T`vhiz' *Jhg} Haa`mn}* ]ZL' 06 v' ; a`i', tcj' mhlhz 5 :4mo'

    C~t' }~gt `gd`mc` vn q}' a' dn t`t' J`jl`hiz'; v' 06 "3> t`t' ` g ghtnln dn }~j}hl' :>66nr'

    @]JG 092/009>/26/499/1'U:633/334:_'/ / 3' A~gm`hgcz` v~jl`m` Dn{qhltczn vzhan}`hgcl'

    =>'62

    =1C]@]TNG ]HM@CL'C]@I^ZZ@ ]HM@CLN

    =12 C}`i~zz`

    3336' C}`i~zcznc hjl`icthz`n dn c}`}tng ond`mcl ; Ug qhl'_ ( Mhovcg`c Gc' dn C}`/i~zz` g Ond`m`g' Mb' ; UVhgth}_, :633 "T`vhiz' *N~zh/Vzn}}* ]ZL' :4 mo'

    Qhl' >' :633' 364 v' ; tcj' 3966 nr' @]JG 092/009>/>3/:19/3' U:633/3:49_'/ / 3' C}`i~zcznc dn c}`}tng ond`mcl Cmtn ghzoct`qn'

    =12'0'61"604

    3333' @dno g lj' z~} ; ' ' ; Vhgth},:633 "T`vhiz' *N~zhvzn}* ]ZL' :4 mo'

    >' :633' 33: v' ; tcj' =66 nr' @]JG 092/009>/>3/:12/2' U:633/3:42_'

    / / 3' C}`i~zcznc dn c}`}tng ond`mcl Cmtn ghzoct`qn "z~})'=12'0'61"604

    333:' Izcyn Mczct C}`i~zz` CH' Cgg~cl Znvhzt ( Izcyn Mczct C}`i~zz` ]C' UMb' ; ]' g', :633 "T`vhiz' *Jhg} Haa`mn}* ]ZL_' =6 mo'

    :636' :633' 33 v' ; aht' mhlhz' Tnrtn; lj' zho', ngil' A' a' dn t`t' U:633/3344_'/ / 3' Izcyn Mczct C}`i~zz` ]C Zcvhzt "zho', ngil')'

    =12"649?3=>'3?333

    333=' @dno g lj' z~} ; IzcynMczct C}`i~zz` CH'Cgg~cl Znvhzt ? / :636' UMb' ; ]' g', :633 "T`vhiz' *Jhg} Haa`mn}* ]ZL_' =6 mo'

    :636' :633' 33 v' ; aht' mhlhz' T`t' vczcl'; lj' ngil', z~}' Tnrtn; lj' ngil', z~}' A' a' dn t`t' U:633/334=_'/ / 3' Izcyn Mczct C}`i~zz` ]C Zcvhzt "ngil', z~})'

    =12"649?333?313'3

    =9ND^MC@N'GQOGT'@G]TZ^@ZN'T@OV L@JNZ

    =9'6 T`v~z` ` vz`gm`v`` a~gdcongtcln dn nd~mc`n

    =9'603 Hzicg`{cznc }`}tno~l~` dn nd~mc`n ` gqogt' Hzicg`{czn mhlcz

    3334' Dk Q~ ; L`mn~l *]v`z~ Bcznt*' Vzhoh`c :633 ; Nd' c 4/c' Ud`g Mb``g~ ; clj~o_ ( L`mn~l Tnhznt`m *]v`z~ Bcznt* 5 znd'; Jck~zncg @z`gc, Ahzt~gc Ocz`gc, tnagn Gnllp Unt cl'_'Mb' ; *Nlcg @GM* ]ZL, :633 "T`vhiz' *Nlcg Vhl`izca* ]ZL' 344 v' ; aht' 5 :9 mo'

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    18/176

    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    32

    3>6 nr'@]JG 092/009>/11/:=4/> "g mhv' tczn'U:633/3699_'/ / 3' L`mn~l Tnhznt`m *]v`z~ Bcznt* Mb``g~ Vzhoh`c :633 Clj~on'

    =9'603"492/:>"624'3:333>' Ngm`~, Nmctnz`gcMcztn/mc`nt lc d`z`ing`n ; vngtz~ ml' c 4/c ( Nmctnz`gc Ngm`~' Nd' Uc :/c_, znq' ` mhovl'

    Mb' ; Lpmn~o, :633 "A'N'/V' *T`vhiz' Mngtzcl*' 14 v' 5 :4 mo'3666 nr'@]JG 092/009>/01=>/>/2 "nzhgct'U:633/332:_'/ / 3' D`z`ing`n'

    =9'603"69:

    =9= Ing~z` ` mhl` dn m~lt~z ingnzcl' gqogt dn m~lt~z ingnzcl

    3331' Mczcjnt, Gctcl`cVlcgn d`dcmt`mn m~ }czm`g` `gd`q`d~cln vngtz~ vznmhlcz` ; g ck~thz~l }t~dngt~l~`/}tci`cz

    ( Gctcl`c Mczcjnt' Mb' ; U*Iczhohgt ]t~d`h* ]ZL_, :633' 19 v' ; `l' 5 :3 r :2 mo'16 nr'@]JG 092/009>/4::=/:/3'U:633/3:>0_'/ / 3' gqogt vznmhlcz'

    =9=':

    3339' Mcztnc vznmhlcz~l~` ; 1/9 cg` ( tzcd' ` cdcvtczn dn Cgcthl Q`dzcm~ 5 `l' Clnm~Dhg`m`, ]nzin ]co}hghq, Ocz`gc Cgdz~b`gc Unt cl'_ 5 mhv'; Qlcd`o`z [onnq' UMb' ; ]' g'_ 5J~m~znt` ; L`tnzc @gtnzgc`hgcl "o`m, :633 "Mhoj`gct~l Vhl`iz' d`g Mb``g~' 3>2, U:_ v' ; `l'mhlhz 5 :2 mo' "Dn{qhltcznc t`ov~z`n'

    @]JG 092/161/166/43=/2 "L`tnzc @gtnzgc`hgcl, J~m~znt` "g mhv' tczn'U:633/33:>_'/ / 3' gqogt vznmhlcz'

    =9=':

    3332' [ilcqhm`, Qclngt`gcVn vhtnm`ln qcmcgn` ( Qclngt`gc [ilcqhm`' Mb' ; *Nv`izca* ]ZL, :633 "A'N'/V' *T`vhiz'

    Mngtzcl*' 42 v' ; `l' 5 :4 mo'3666 nr'@]JG 092/009>/360/>4/='U:633/339>_'

    =9='=

    =92 gqogt }~vnz`hz' ^g`qnz}`t`' M~z}~z` ~g`qnz}`tczn

    3330' Mhv`l~/Mhv`ll`g, D~o`tz~H q`c dn dc}ml hj`g~`t, tz`t gnhj`g~`t ( D~o`tz~ Mhv`l~/Mhv`ll`g' Mb' ; Vz~t @gtnz/

    gc`hgcl, :633 "A'N'/V' *T`vhiz' Mngtzcl*' :44 v' ; a`i', aht', aht' mhlhz 5 :> mo'J`jl`hiz' g tnrt ` g ghtnln dn }~j}hl' 3666 nr'

    @]JG 092/009>/4::2/4/6'U:633/33>2_'

  • 7/23/2019 BNM 2011-7

    19/176

    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    30

    =92"60:

    33:6' Hyn`dcb, Kco`lMhhvnzct`hg cgd nrvhzt ha nd~mct`hgcl }nzq`mn}; yhzld nrvnz`ngmn ( Kco`l Hyn`dcb 5

    Aznn @gtnzg' ^g`q' ha Ohldhqc' Mb' ; ^L@O, :633 "T`vhiz'; *Vz`gt/Mczh* ]ZL' 3>: v' ; a`i',

    tcj' 5 :3 mo'J`jl`hiz'; v' 3:1/3=9 "302 t`t'' 366 nr'@]JG 092/009>/363/96/9 "g mhv' tczn'U:633/3:>6_'/ / 3' gqogt }~vnz`hz "ngil')'

    =92;==0'0

    33:3' ZnonojnzOn ; Cmcdno`c dn ]t~d`` Nmhgho`mn d`g Ohldhqc *C]NO* ; Vzh/oh`c :633 ; Uclj~o_ ( Cmcd' dn ]t~d`` Nmhgho`mn 5 aht'; Ihgmncz~m Clnrcgdz~, Onlg`m Clc' Mb' ; * Nlcg @gm* ]ZL, :633 "T`vhiz' *Nlcg Vhl`izca* ]ZL' 364 v' ; aht' 5 :9 mo'

    >6 nr'@]JG 092/009>/11/:=6/9 "g mhv' tczn'U:633/3691_'/ / 3' Cmcdno`c dn ]t~d`` Nmhgho`mn d`g Ohldhqc Vzhoh`c :633 Clj~on'

    =92'1=="492/:>"624'3:

    33::' ^g`qnz}`tctnc dn ]tct dn Nd~mc`n A`{`m ` ]vhzt' Cg`qnz}cznc c 16/c c hz/icg`{z`` gqogt~l~` }~vnz`hz dn m~lt~z a`{`m d`g Znv~jl`mc Ohldhqc ( ^g`q' dn ]tct dnNd~mc`n A`{`m ` ]vhzt 5 mhhzd'; Qncmn}lcq Ocghlcmbn 5 mhg}~ltcg`; Vntz~ Dnomngmh, Jhz`}Zgncm 5 aht'; O`bc` Mh{oc' Mb' ; U^]NA]_, :633 "T`vhiz' *Nlcg Vhl`izca* ]ZL' U3>1_ v' ;aht' mhlhz 5 =6 mo'

    Tnrt vczcl'; lj' zho', ngil'U:633/3692_'/ / 3' gqogt }~vnz`hz dn m~lt~z a`{`m @}thz`n'

    =92'190'1"492/:>"603

    33:=' ^g`qnz}`tctnc dn ]tct d`g Ohldhqc ? Ohldhqc ]tctn^g`qnz}`tp ; Acm~ltctnc dnDznvt ; Vzhoh`c :633 ; Uclj~o_ ( ^g`q' dn ]tct d`g Ohldhqc 5 mhhzd'; Cgcthl Zh`j~' UMb' ; ]'g', :633 "T`vhiz' *Jhg} Haa`mn}* ]ZL_' 12 v' ; aht' mhlhz 5 =3 mo'

    T`t' vczcl'; lj' zho', ngil' Tnrt vczcl'; lj' zho', z~}'g mhv' tczn'U:633/3343_'

    / / 3' ^g`qnz}`tctnc dn ]tct d`g Ohldhqc Acm~ltctnc dn Dznvt Vzhoh`c, :633 Cl/j~on "zho', z~})'=92'4"492/:>"624'3:

    =0NTGHLHI@N'NTGHIZCA@N'HJ@MN@^Z@'TZCD@@@'DCT@G@'AHLMLHZ

    =02 Ahlmlhz

    33:4' Mhv`lz`n/Vvd`n ; Cgthlhi`n dn tnrtn d`g ahlmlhz~l ` l`t' vngtz~ mhv`` ; Ug qhl'_ (Uc~t'/clmt'_ ; ]tnlc Mnohztcg' Mb' ; *]tnlvczt* ]ZL, :633 "T`vhiz' *]nznj`c* ]ZL' :9 mo' @]JG 092/009>/4339/6/9'

    Qhl' 3' :633' 339, U=_ v' ; `l' dn}' J`jl`hiz'; v' 332 ":: t`t'' 3666 nr' @]JG 092/

    009>/4339/:/3 "g mhv' tczn' U:633/33>:_'

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    20/176

    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    :6

    / / 3' L`tnzct~z vngtz~ mhv``'=02'>%2:3/0="62:

    33:>' , ' ' * * ; U_ (

    5 ' ' ' 5 , / ' , / *'' '*' ' ; *Nlcg @gm* ]ZL, :633 "T`vhiz' *Nlcg Vhl`izca* ]ZL' >12 v' ; aht' 5 :3mo'

    Tnrt vcz`cl; lj' ii~{' Zn{'; lj' zho', ngil', z~}' J`jl`hiz'; v' =1=/=00 ` g ghtn/ln dn }~j}hl' ' ' ' /, ' ' /, ' /' , / ' ' ' =66 nr'

    @]JG 092/009>/11/:=2/= "g mhv' tczn'U:633/3:=>_'/ / 3' Ahlmlhz ii~{ "z~})'

    =02'2"?>3:'31>;924'4

    > OCTNOCT@M' T@@GN CLN GCT^Z@@>6:(>64 Gct~zc' ]t~d`~l ` vzhtnm`c gct~z``' t``gc ond`~l~` gmhgk~zthz

    33:1' Mhzhjhq, ZhocgMl`octn Mbcgin Cdcvtct`hg Vhl`m`n} `g tbn Azconyhze ha ]~}tc`gcjln Ngq`zhgongtcl

    Ocgcinongt ; Cg Novbc}`} hg Mh~gtz`n} `g Tzcg}`t`hg ( Zhocg Mhzhjhq' Mb' ; Nmh/T@ZC],:633 "T`vhiz' *Nlcg Vhl`izca* ]ZL' 140 v' ; a`i', tcj' 5 :> mo'

    J`jl`hiz'; v' 139/142 "961 t`t' ` g ghtnln dn }~j}hl' >66 nr'@]JG 092/009>/11/:==/2 "g mhv' tczn'

    U:633/3694_' '

    / / 3' Ml`o "ngil')'>6:(>64%>>3'23

    33:9' Mzcm`~g, Clnrcgdz~Onthdn dn znd~mnzn c no`}``lhz vhl~cgtn cln ohthcznlhz m~ czdnzn `gtnzg ; Uvngtz~ ~{~l

    }t~dng`lhz_ ( Clnrcgdz~ Mzcm`~g, Ibnhzibn D~mc, Qlcd`o`z Ngn 5 ^g`q' dn ]tct d`g Ohldhqc,Acm' dn Mb`o`n ` Tnbghlhi`n Mb`o`m, MM *Mb`o`n Cvl`mct ` Nmhlhi`m*' Mb' ; MNV^]O, :633' 3=>, U3_ v' ; a`i', tcj' 5 :3 mo'

    J`jl`hiz'; v' 3:0/3=: "14 t`t'' Cvczn m~ }vz`k`g~l a`gcgm`cz cl Mhg}`l`~l~` ]~vzno vngtz~t``g ` Dn{qhltczn Tnbghlhi`m cl CO' 96 nr'@]JG 092/009>/93/3:1/>'U:633/3:34_'/ / 3' Vzhtnm`c ond`~l~` gmhgk~zthz No`}`` vhl~cgtn'

    >64'61"69>'2

    33:2' Zng`, Clnm~Vctz`ohg`~lgct~zcl cl Ohldhqn` ? Tbn gct~zcl bnz`tcin ha Ohldhqc ; Uclj~o_ ( aht' ! tnrtn;

    Clnm~ Zng`, L~m`cg Zng` 5 m~q' `gtzhd'; Ibnhzibn clcz~ 5 tzcd'; L~m`cg Zng` 5 O`g' Ond`/~l~` cl Znv' Ohldhqc' Mb' ; *Mhgt`gngtcl Iz~v* ]ZL, :633' 30>, U3_ v' ; aht' mhlhz 5 =3 mo'

    "Mhlnm`c *Gct~zc*'T`t', tnrt vczcl'; lj' zho', ngil' 3666 nr'

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    21/176

    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    :3

    @]JG 092/009>/0236/1/4 "g mhv' tczn'U:633/3391_'/ / 3' Vctz`ohg`~lgct~zcl cl Ohldhqn` Clj~on'

    >6:(>64"492"624?3=>'3?333

    >3OCTNOCT@M33:0' Ml~iz`c, Cginl`mcNrnzm``` ` vzhjlnon dn octnoct`m ; vngtz~ nlnq`` ml' 3/4 ( Cginl`mc Ml~iz`c' Nd' c

    =/c, znq' ` cd' Mb' ; *Tnh/Nd~mc`hgcl* ]ZL 5 J~m~znt` ; ^g`qnz}cl Vcg, U:633 "T`vhiz'*Jhg} Haa`mn}* ]ZL_' =0: v' ; a`i' 5 :4 mo'

    J`jl`hiz'; v' =0: "0 t`t'' 3666 nr'@]JG 092/009>/433:/9/3'U:633/33=4_'/ / 3' Octnoct`m M~lninzn dn nrnzm``` ` vzhjlnon'

    >3"69>'=Ngm`~, Nmctnz`gc' Lnm`` vngtz~ qcmcg' Qn{` Gz 3399'

    33=6' Ih`cg, @'Zn{~octn lc octnoct`m ; >/0 ; Vznit`zn mtzn nrcong~l dn mcvcm`tctn ( @' Ih`cg, @'

    Ocz`g, Q' Ocz`g' UNd' znq'_' Mb' ; *Tnh/Nd~mc`hgcl*, :636 "T`vhiz' *Jhg} Haa`mn}* ]ZL' 36= v' ; a`i' 5 36 r 3= mo' "Nd``n gh~'

    =666 nr'@]JG 092/009>/093>/9/9'

    U:633/33=0_'/ / 3' Octnoct`m'>3"69>'=

    Ocz, Q`hz`mc' Lnm`` vngtz~ qcmcg' Qn{` Gz 3324'

    Hjznkc/Ocz`, Q`hz`mc' Lnm`` vngtz~ qcmcg' Qn{` Gz 332>'

    >=A@[@M

    33=3' Ocz`gm`~m, O`bc`A`{`m ; ocg' vngtz~ ml' c 1/c ( O`bc` Ocz`gm`~m, O`zmnc O`iln` 5 mho`}`c dn nqcl~czn; G`/mhlcn Jclo~, @hg Clj~, Vcqnl ]tzctcg 5 O`g' Nd~mc`n` cl Znv' Ohldhqc' Mb' ; 'N'/V' *t``g/

    c*, :633 "Mhoj`gct~l Vhl`iz'' 369, U3_ v' ; a`i', tcj' mhlhz 5 :4 mo'43:66 nr'@]JG 092/009>/19/91:/:'U:633/3300_'/ / 3' A`{`m Ocg~cln'

    >="69>'=

    >4MB@O@N'MZ@]TCLHIZCA@N'O@GNZCLHI@N

    33=:'

    ]cgd~, Cginlc

  • 7/23/2019 BNM 2011-7

    22/176

    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    ::

    Zn{~octn lc Mb`o`n ; vngtz~ ml' 36/3: ( Cginlc ]cgd~' UNd' znq'_' Mb' ; *Tnh/Nd~mc`hgcl* ]ZL, :633 "T`vhiz' *Jhg} Haa`mn}* ]ZL' 3:2 v' ; tcj' 5 36 r 3= mo'

    3666 nr'@]JG 092/009>/433:/=/='

    U:633/33=>_'/ / 3' Mb`o`n'>4"69>'=

    >>INHLHI@N'T@@GN INHLHI@MN @ INHA@[@MN

    >>3 Inhlhi`n ingnzcl' Ml`octhlhi`n' Inhlhi`n `}thz`m' ]tzct`izca`n' Vclnhinhizca`n

    >>3'> Ontnhzhlhi`n' Ml`octhlhi`n

    33==' ]nzq`m`~l B`dzhontnhzhlhi`m dn ]tct ? ]tctn Bpdzhontnhzhlhi`mcl ]nzq`mn ; Zc/vhzt dn cmt`q`tctn, :636 ( O`g' Ond`~l~` 5 nlcj' ; @l`n Jh`cg "mhhzd' vz`gm`vcl, Nl`gc Vlnmc, L`d`c

    Tznm`lh Unt cl'_ 5 tzcd' ; Gctcl`c Nazh}' Mb' ; *Ond`~l Coj`cgt* VV, :633 "A'N'/V' *T`vhiz'Mngtzcl*' 22, U3_ v' ; a`i', aht' mhlhz, tcj', d`ciz' 5 =6 mo'T`t', tnrt vczcl'; lj' zho', ngil' A' a' dn t`t' Cvczn m~ }vz`k`g~l a`gcgm`cz cl Ahgd~l~` Nmh/

    lhi`m Gc'U:633/3399_'/ / 3' ]nzq`m`~l B`dzhontnhzhlhi`m dn ]tct Znv~jl`mc Ohldhqc Zcvhzt, :636 "zho',

    ngil')'>>3'>"492"649?3=>'3?333

    >>3'9('2 Inhlhi`n `}thz`m' ]tzct`izca`n' Vclnhizca`n

    Mhzhjhq, Zhocg' Ml`octn Mbcgin Cdcvtct`hg Vhl`m`n} `g tbn Azconyhze ha ]~}tc`g/cjln Ngq`zhgongtcl Ocgcinongt' Qn{` Gz 33:9'

    >9T@@GN J@HLHI@MN

    33=4' Mh{cz`, T~dhzJ`hlhi`n ; Ocg' vngtz~ ml' c 1/c ( T~dhz Mh{cz` 5 mho`}`c dn nqcl~czn; L`d`c T`o~, L`d`c

    Mhkhmcz`, G`mhlcn Ohzcz` 5 `oci`g` aht'; T~dhz Mh{cz`, Cgdzn` Gniz~, Hq`d`~ Mh}o`g Unt cl'_ 5O`g' Nd~mc`n` cl Znv' Ohldhqc' Mb' ; 'N'/V'*t``gc*, :633 "T`vhiz' *]nzj`c* ]ZL' 0>, U3_v' ; dn}', aht' mhlhz 5 :1 mo'

    43=66 nr'

    @]JG 092/009>/19/9>1/3'U:633/3349_'/ / 3' J`hlhi`n Ocg~cln'

    >9"69>'=

    33=>' @dno g lj' z~} ; ; ' 1 ' ' ; 'N'/V' *t``gc*, :633"T`vhiz' *]nznj`c* ]ZL' 0>, U3_ v' ; dn}', aht' mhlhz 5 :1 mo'

    33466 nr'@]JG 092/009>/19/9>9/2'U:633/3342_'/ / 3' J`hlhi`n Ocg~cln "z~})'

    >9"69>'=

  • 7/23/2019 BNM 2011-7

    23/176

    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    :=

    >94 Nmhlhi`n ingnzcl' B`dzhj`hlhi`n' J`hinhizca`n

    33=1' Dnd`~, @hg @'Tn{c~z~l tnzo`ghlhi`m cl nmhlhi`n` ; Ilh}cz nt`ohlhi`m zhog/z~}/ngiln{ ( @hg @' Dnd`~ 5

    znd' t'; G`mhlcn Jhtgcz`~m, Clnrcgdz~ M`~jhtcz~, Ibnhzibn O~}tc 5 Cmcd' dn t``gn c Ohl/dhqn`, @g}t' dn Nmhlhi`n ` Inhizca`n, Cmcd' Hcong`lhz dn t``g d`g Zhog`c Unt cl'_' Mb' ;'N'/V' *t``gc*, :633 "T`vhiz' *]nznj`c* ]ZL' :2:, U3_ v' 5 :> mo' "Vzhjczn nt vzhjczn'

    Tnrt vczcl'; lj' zho', ngil', z~}' J`jl`hiz'; v' :10/:2:' 3666 nr'@]JG 092/009>/19/941/: "g mhv' tczn'U:633/33>>_'/ / 3' Nmhlhi`n Tnzo`ghlhi`n "zho', ngil', z~})'

    >94"6=2?3=>'3?313'3?333

    >99 J`hmb`o`n' J`hlhi`n ohlnm~lcz' J`ha`{`m

    33=9' J`hmb`o`n ; Ghtn dn m~z} ; Vngtz~ }t~dng`` ^MMO ; ]vnm'; >43'3 Tnbghlhi`c `ocgcinongt~l cl`ongtc`n` v~jl`mn 5 >43': Tnbghlhi`c vzhd~}nlhz cl`ongtczn ( OHLDMHHV,^g`q' Mhhvnzct`}t/Mhonzm`cl d`g Ohldhqc "^MMO, Mctndzc Tnbghlhi`n ` mb`o`n c oza~z`/lhz 5 clmt'; @' V~z`mn' Mb' ; ^MMO, :636' :3> v' ; a`i', tcj' 5 :3 mo'

    J`jl`hiz'; v' :3> "34 t`t'' 366 nr'@]JG 092/009>/43:2/>/2'U:633/3361_'/ / 3' J`hmb`o`n'

    >99"69>'2

    >0[HHLHI@N

    33=2' Mh{cz`, T~dhz@g}nmtnln ; O`m ngm`mlhvnd`n ( T~dhz Mh{cz` 5 aht'; T~dhz Mh{cz`' Mb' ; Czm ; 'N'/V' *t`/`gc*, :636 "@ovz`oct g ^gicz`c' 39>, U3_ v' ; aht' mhlhz 5 :6 mo'

    Dng~o`znc }vnm``lhz vczcl'; lj' lct', zho', ngil', z~}' @gd`mn g lj' lct', zho', ngil, z~};v'396/39>' Cvczn m~ }vz`k`g~l a`gcgm`cz cl Ahgd~l~` Nmhlhi`m Gc' :666 nr'

    @]JG 092/009>/19/9=9/6 "Czm' @]JG 092/009>/13/>0>/: "'N'/V' *t``gc* "g mhv' tc/zn'

    U:633/3:66_'/ / 3' @g}nmtn Ngm`mlhvnd``'

    >0>'9"6=3

    1 T@@GN CVL@MCTN' OND@M@G' TNBG@M13OND@M@G

    33=0' @MGJON/:633' @gtnzgct`hgcl Mhganzngmn hg Gcghtnmbghlhi`n} cgd J`hond`mclNgi`gnnz`gi inzocg/ohldhqcg yhze}bhv hg Ghqnl Gcghoctnz`cl} ahz Nlnmtzhg`m, Vbhthg`mcgd J`hond`mcl Cvvl`mct`hg}, Mb`}`gc~, K~lp 9/2, :633 ; Vzhmnnd`gi} ( zn}v' ahz nd' ]nzibn`Zc`lncg' Mb' ; *Nlcg @gm* ]ZL, :633 "T`vhiz' *Nlcg Vhl`izca* ]ZL' 416 v' ; a`i', tcj' 5 =6mo'

    Cgtnt`t'; Cmcd' ha ]m`ngmn} ha Ohldhqc, Tnmbg' ^g`q' ha Ohldhqc, ]tctn Ond`mcl cgdVbczocmn~t`mcl ^g`q' *G`mhlcn Tn}tno`tcg~* ha tbn Znv' ha Ohldhqc Unt cl'_' Zn{'; lj' ngil' J`jl`hiz' lc }az`t~l czt' @gd' dn c~t'; v' 4>>/4>0' Cvczn m~ }vz`k`g~l a`gcgm`cz cl N~zhvncg

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    24/176

    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    :4

    Andnzct`hg ahz Ond`mcl @gahzoct`m}, IN Bncltbmczn, Clnrcgdnz qhg B~ojhldt Ah~gdct`hg"Yhze}bhv Unt cl'_' 3>6 nr'

    @]JG 092/009>/11/:=0/6'U:633/369>_'

    / / 3' *Gcghtnmbghlhi`n} cgd J`hond`mcl Ngi`gnnz`gi inzocg/ohldhqcg yhze}bhv hgGhqnl Gcghoctnz`cl} ahz Nlnmtzhg`m, Vbhthg`m cgd J`hond`mcl Cvvl`mct`hg}* @gtnzgct`hgclmhganzngmn'

    13;U>9%664_"62:?333

    3346' Vzhmc, @hgK~zgcl dn }v`tcl ; Ua`ln d`g `}thz`c ]v`tcl~l~` Ml`g`m O~g`m`vcl *]agt~l Czbcgibnl O`bc`l_ (

    @hg Vzhmc 5 vzna'; @hg M~{~`hm' Mb' ; *Izcanoc L`jz`}* ]ZL, :633' 3=> v' ; aht' 5 :4 mo']vhg}hz` dl' Iz`ihzn A`l`ohg, d`z' cl ]C *Znmcz*, Vzhmc @hg, @hg czjcg' :66 nr'@]JG 092/009>/>:/33>/4'U:633/3:44_'

    / / 3' ]v`tcl~l Ml`g`m O~g`m`vcl *]agt~l Czbcgibnl O`bc`l* Vnz}hgcl ond`mcl @gtnzq`~z`'13"649'>=

    134 ]gtctn ` `i`ng v~jl`m' Vznqng`znc cmm`dngtnlhz

    3343' ( *Nmh/T@ZC]* 5 '; , , U '_' U' ; *Nlcg @gm*]ZL, :633_ "T`vhiz' *Nlcg Vhl`izca* ]ZL' 2=, U3_ v' ; d`ciz', tcj' mhlhz 5 :4 mo'

    J`jl`hiz' g ghtnln dn }~j}hl' ' ' ' / ]DM, ' ' ' ' ' " '

    >66 nr'@]JG 092/009>/11/:46/1'U:633/3:=4_'/ / 3' Cvc ` }gtctnc v~jl`m Znv~jl`mc Ohldhqc "z~})'

    134'999%134':"492

    334:' @dno g lj' ngil' ;]ntt`giTczint} cgd Tczint Dctn} ~gdnz tbn Vzhthmhl hg Yc/tnz cgd Bncltb `g tbn Znv~jl`m ha Ohldhqc' UMb' ; *Nlcg @gm* ]ZL, :633_ "T`vhiz' *Nlcg Vhl`/izca* ]ZL' 2=, U3_ v' ; d`ciz', tcj' mhlhz 5 :4mo'

    J`jl`hiz' g ghtnln dn }~j}hl' Cvczn m~ }vz`k`g~l a`gcgm`cz cl ^g`tnd Gct`hg} Nmhg'Mhoo`}}`hg ahz N~zhvn, ]y`}} Cingmp ahz dnqnlhvongt cgd Mhhvnzct`hg ]DM' >66 nr'

    @]JG 092/009>/11/:=:/3'U:633/3:=1_'/ / 3' Cvc ` }gtctnc v~jl`m Znv~jl`mc Ohldhqc "ngil')'

    134'999%134':"492

    13> Aczocmhlhi`n' Tnzcvn~t`m' Thr`mhlhi`n

    D~zgnc, Cl`hgc' Nanmt~l gnazhvzhtnmthz cl ond`mc`n` m~ czc`` qnz}~} `nmc`` ` `ovcmt~lc}~vzc nlc}t`m`t`` cztnz`cln g b`vnztng}`~gnc cztnz`cl n}ng`cl' Qn{` Gz 3:=>'

    131 Vcthlhi`n' Ond`m`g ml`g`m

    334=' , ' '

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    25/176

    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    :>

    , ; U_ ( '' ' ' ; ' ', :633 "A'N'/V' *T`vhiz' Mngtzcl*' ==4, U3_ v' ; tcj' 5 :3 mo'

    J`jl`hiz'; v' ==3/==> "2= t`t'' =66 nr'@]JG 092/009>/92/099/1 "g mhv' tczn'

    U:633/33>0_'/ / 3' Tzc~on ]vhzt "z~})'131'663;901(900

    131'3('0 Vcthlhi`n }vnm`cl

    131'= Vcthlhi`c }`}tno~l~` d`in}t`q' Jhl`ln t~j~l~` cl`ongtcz

    3344' I~d~ocm, NqcA`}t~lnln `gtn}t`gcln lc mhv`l' C}vnmtn ml`g`mh/j`hmb`o`mn ` tnzcvn~t`mn ; 96 Ucg` dn lc gc/

    tnznc mb`z~zi~l~`/vnd`ctz~ N' I~d~ocm_ ( Nqc I~d~ocm 5 ^g`q' dn ]tct dn Ond`m`g ` Aczoc/m`n *G`mhlcn Tn}tno`cg~*' Mb' ; MNV *Ond`m`gc*, :633' 92 v' 5 :6 mo' "]cqcg`/ond`m`

    `l~tz`'T`t' vn mhv'; Nqc I~d~ocm' L`}tc l~mzz`lhz t' v~jl' dn vzha' ~g`q', cmcd' cl CZO, ho

    nonz`t Nqc I~d~ocm; v' =4/92 "=2= t`t''U:633/369:_'/ / 3' Jhl` `gtn}t`gcln lc mhv`` A`}t~ln' :' I~d~ocm, Nqc 3043/, mb`z~zi/vnd`ctz~ J`/

    hizca`n'131'=4/6>=':/620"60:

    131'0 Jhl` tzcg}o`}`j`ln' Jhl` `ganm`hc}n ` mhgtci`hc}n

    334>' Ib`dg dhong`~l vzhohqz`` ` vzhtnm`n` dznvt~z`lhz vnz}hcgnlhz mczn tz`n}m m~B@Q ? , ( c~t'; Zcd~Dcg``, Dh`gc O~gtncg~, @~z`n H}h`cg~ Unt cl'_ 5 @g}t' vngtz~ Dznvt~z`ln Ho~l~` d`g Ohldhqc' Mb' ; Mczt`nz, :633 "T`vhiz' *Jhg} Haa`mn}* ]ZL' 3:4 5 3=6 v' ; tcj' 5 :4 mo'

    C~t' }~gt `gd`mc` vn q}' a' dn t`t' T`t', tnrt vczcl'; lj' zho', z~}' Vci`gc`n vczcl' Mcztn/qclnt "**' J`jl`hiz'; v' 330/3:=, v' 3:>/3:0' >66 nr'

    @]JG 092/009>/90/106/='Izct~`t' U:633/33>=_'/ / 3' Vnz}hcgn `ganmtctn m~ B@Q(]@DC Dznvt~z`ln ho~l~` "zho', ngil')' :' Dznvt~z`ln

    ho~l~` Vnz}hcgn `ganmtctn m~ B@Q(]@DC "zho', ngil')'131'02;>92'2:2%=43':=3'34

    1:@GI@GNZ@N'TNBG@M G INGNZCL1:6 gmnzmcznc octnz`clnlhz' Octnz`cln mhonzm`cln ` m~ghctnznc oza~z`lhz, mngtzcln

    ngnzint`mn' Nmhgho`n ngnzint`m

    3341' J~licm, Ocz`cM~lninzn dn l~mzz` cvl`mct`qn lc *Onzmnhlhi`c vzhd~}nlhz cl`ongtczn dn hz`i`gn cg`oc/

    l`nz* ; "vngtz~ nlnq`` ` }t~dng`` }vnm' *Onzmnhlhi`n ` Mhonz* ( Ocz`c J~licm, HlicTcj~g}m`m 5 Cmcd' dn ]t~d`` Nmhg' d`g Ohldhqc, Mhlni`~l Gc' dn Mhonz cl C]NO, Mctndzc*Mhonz, Onzmnhlhi`n, Tnbghlhi``*' Mb' ; C]NO, :633' 39=, U3_ v' ; a`i', tcj' 5 :6 mo'

    J`jl`hiz'; v' 39:/39= "31 t`t'' 366 nr'@]JG 092/009>/9>/>>1/1'

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    26/176

    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    :1

    U:633/3::>_'/ / 3' Onzmnhlhi`c vzhd~}nlhz cl`ongtczn'

    1:6':;114'0"691'>

    3349' Mnmcg, Nmctnz`gcOnzmnhlhi`c octnz`n` vz`on }nm~gdczn ; Ghtn dn m~z} ( Nmctnz`gc Mnmcg 5 OHLDMHHV,

    ^g`q' Mhhvnzct`}t/Mhonzm`cl d`g Ohldhqc' Mb' ; ^MMO, :633' 363 v' ; tcj' 5 :3 mo'C~t' n}tn `gd`mct vn mhv' J`jl`hiz'; v' 00/363 "== t`t'' 46 nr'@]JG 092/009>/4:69/4/9'U:633/336>_'/ / 3' Onzmnhlhi`n'

    1:6':"69>'2

    3342' Andhzm`~mhqc, ]qntlcgcOnzmnhlhi`c vzhd~}nlhz cl`ongtczn; o`nzn, {cbz, co`dhg ; Ghtn dn m~z} ( ]qntlcgc

    Andhzm`~mhqc 5 OHLDMHHV, ^g`q' Mhhvnzct`}t/Mhonzm`cl d`g Ohldhqc' Mb' ; ^MMO,:633' 9: v' ; tcj' 5 :3 mo'

    C~t' n}tn `gd`mct vn mhv' J`jl`hiz'; v' 9: "32 t`t'' 96 nr'@]JG 092/009>/4302/:/1'U:633/360=_'/ / 3' Onzmnhlhi`c vzhd~}nlhz cl`ongtczn'

    1:6':;114'3(':"691'1

    1:3 Mhg}tz~m`c dn oc`g` g ingnzcl' Tnbg`m g~mlncz' Nlnmtzhtnbg`m' Tnbghlhi`n

    onmcg`m

    3340'

    I~~, Qclngt`gNlnmtzhtnbg`mc ` nlnmtzhg`mc ; Uvngtz~ ~{~l }t~dng`lhz_ ( Qclngt`g I~~ 5 O`g' Nd~mc`n`cl Znv' Ohldhqc' UNd' c :/c, cd'_' Mb' ; *Tnbg`mc/@gah* ]ZL, :636 "A'N'/V' *T`vhiz' Mngtzc/l*' 196 v' ; a`i', tcj' 5 :3 mo'

    J`jl`hiz'; v' 196 "3> t`t'' >66 nr'@]JG 092/009>/1=/=34/9 "nzhgct "g mhv' tczn'U:633/3392_'/ / 3' Nlnmtzhtnbg`m' :' Nlnmtzhg`m'

    1:3'=%1:3'=2"69>'2

    1=CIZ@M^LT^Z'T@@GN @ VZHMNDNN GZ^D@TN']@LQ@M^LT^Z'NRVLHCTZ@ CIZ@MH/

    LN @ CLN Q@N@@ ]LJCT@MN

    1== M~lt~zc vlcgtnlhz dn mov

    1=='4 M~lt~z` dn zdm`ghc}n

    33>6' *]anmlc dn {cbz m~lt~z }tzctni`m g dn{qhltcznc d~zcj`l c ciz`m~lt~z``Znv~jl`m`` Ohldhqc*, mhga' `gtnzg' ":633 5 Mb``g~)' Octnz`clnln Mhganz`gn` `gtnzgc`hgcln*]anmlc dn {cbz m~lt~z }tzctni`m g dn{qhltcznc d~zcj`l c ciz`m~lt~z`` Znv~jl`m`` Ohldhqc*,Znv' Ohldhqc, Jl`, 9/2 `~l' :633 ( mhl' znd'; Qh{`cg Qclnz`~, Tczcg O`bc`l, Jhcib`` @hg Unt cl'_' Mb' ; ]' g', :633 "A'N'/V' *T`vhiz' Mngtzcl*' =30 v' ; a`i', tcj' 5 :3 mo'

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    27/176

    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    :9

    Cgtnt`t'; O`g' Ciz`m~lt~z`` ` @gd~}tz`n` Cl`ongtczn cl Znv' Ohldhqc, Cmcd' dn t``gn cOhldhqn`, @g}t`t~`c V~jl`m @g}t' dn Mnzmnt' vngtz~ M~lt~z`ln dn Mov *]nlnm`c*' Tnrtn; lj'zho', z~}' Zn{'; lj' ngil', z~}' J`jl`hiz' lc }az`t~l czt' :66 nr'

    @]JG 092/009>/92/003/: "g mhv' tczn'

    U:633/331=_'/ / 3' *]anmlc dn {cbz m~lt~z }tzctni`m g dn{qhltcznc d~zcj`l c ciz`m~lt~z`` Znv~jl`/m`` Ohldhqc* Mhganz`gc `gtnzgc`hgcl "zho', z~})'

    1=='43:"62:?3=>'3?313'3

    1=1 [hhtnbg`n' Mzntnznc ` go~l`znc cg`oclnlhz' Mzntnznc q`tnlhz, c nvtnl~l~`' go~l/

    `znc cg`oclnlhz dhon}t`mn

    33>3' ~zmcg~, tnacgD`m`hgcz dn tnzong` a`{`hlhi`m` ; "ngiln{/z~}, z~}/ngiln{ ( tnacg ~zmcg~ 5 ^g`q' Cizcz

    dn ]tct d`g Ohldhqc, Mctndzc J`htnbghlhi`` g [hhtnbg`n' Mb' ; U^C]O_, :633 "T`vhiz' *Vz`gtMczh* ]ZL' :32 v'

    >6 nr'@]JG 092/009>/14/:62/2'U:633/3:>:_'/ / 3' A`{`hlhi`c cg`oclnlhz dhon}t`mn D`m`hgczn "ngil', z~})'

    1=1"6=2?333?313'3%1=1"6=2?313'3?333

    33>:' ~zmcg~, tnacgD`m`hgcz dn tnzong` a`{`hlhi`m` ; "z~}/azcgmn{, azcgmn{/z~} ( tnacg ~zmcg~ 5 ^g`q'

    Cizcz dn ]tct d`g Ohldhqc, Mctndzc J`htnbghlhi`` g [hhtnbg`n' Mb' ; U^C]O_, :633

    "T`vhiz' *Vz`gt Mczh* ]ZL' 32: v'3> nr'@]JG 092/009>/14/:60/>'U:633/3:>=_'/ / 3' A`{`hlhi`c cg`oclnlhz dhon}t`mn D`m`hgczn "az', z~})'

    1=1"6=2?313'3?3=='3%1=1"6=2?3=='3?313'3

    14NMHGHO@N MC]G@M'T@@GN DHON]T@MN'GTZN@GNZNC MC]N@

    33>=' Nd~mc`c tnbghlhi`m ; Ocg' vngtz~ ml' c >/c c 1/c ( Cginlc Ncg~, @hgczcihq, G`mhlcn Hghazn`m`~m Unt cl'_ 5 mho`}`c dn nqcl~czn; @~z`n M~m~`nt~, Qc}`l`}c V}ml~,

    Qclnz`~ Vzhmhcq Unt cl'_ 5 znd' t'; @hg Ncg~ 5 O`g' Nd~mc`n` cl Znv' Ohldhqc' UNd' c :/c_' Mb' ; Czm, :633 "T`vhiz' *]nznj`c* ]ZL' :61, U3_ v' ; dn}', aht' mhlhz 5 :4 mo'Ilh}cz; v' :6=/:69' 3666 nr'@]JG 092/009>/13/132/2'U:633/3340_'/ / 3' Nd~mc`n tnbghlhi`m Ocg~cln'

    14"69>'=

    1>9 Mhgtcj`l`tctn

    33>4' Zcvhzt cg~cl cl C}hm`c`n` Mhgtcj`l`lhz ` C~d`thz`lhz Vzhan}`hg`t` d`g Znv~jl`mcOhldhqc ( C}hm' Mhgtcj`l`lhz ` C~d`thz`lhz Vzhan}`hg`t` 5 mhhzd' nd'; ]qntlcgc Jhzd`cg' UMb' ; ]' g', :633_ "T`vhiz' *Jhg} Haa`mn}* ]ZL' =6 mo'

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    28/176

    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    :2

    :636' :633' =1, U3_ v' ; a`i', aht', tcj' A' a' dn t`t' U:633/33=3_'/ / 3' C}hm`c`c Mhgtcj`l`lhz ` C~d`thz`lhz Vzhan}`hg`t` d`g Znv~jl`mc Ohldhqc Zcvhzt,

    :633'1>9"492"649

    33>>' , ; ' ( 5 ' ' ', ' *'

    *' U'_ ; , U:633_' =>0, U3_ v' ; tcj' 5 :6 mo'366 nr'@]JG 092/009>/9>/>>9/='U:633/3::1_'/ / 3' C~d`t "z~})'

    1>9'1="69>'2

    1>2 Mhgd~mnzn ` cdo`g`}tzczn g nrvlhctczn' Hzicg`{czn mhonzm`cl

    33>1' Dzcicgmnc, ]qntlcgcMhoo~g`s~nz o`n~r ; M~z}~} ~g`qnz}`tc`zn ( ]qntlcgc Dzcicgmnc' Mb' ; C]NO, :633' :10, U3_ v' ; tcj' 5 :6 mo'

    J`jl`hiz'; v' :12/:10 "=6 t`t'' g znd' c~t' >6 nr'@]JG 092/009>/9>/>>4/:'U:633/3::4_'/ / 3' gtznvz`gdnz` Mhgd~mnzn ` cdo`g`}tzczn Mho~g`mczn "az')'

    1>2'3;233'3=='3"69>'2

    33>9' I~t`~o, Tct`cgcNmhgho`c ~g`t`lhz nmhgho`mn; tn}tn ` cvl`mc`` ( Tct`cgc I~t`~o, Cl`hgc Jclcg 5 Cmcd'

    dn ]t~d`` Nmhg' d`g Ohldhqc' Mb' ; C]NO, :633' :6: v' ; tcj' 5 :6 mo'J`jl`hiz'; v' :66/:6: "=9 t`t'' >6 nr'@]JG 092/009>/9>/>>3/3'U:633/3:::_'/ / 3' gtznvz`gdnz` nmhgho`mn Tn}tn'

    1>2'3"690

    11TNBGHLHI@N MB@O@M'@GD^]TZ@@ MB@O@MN @ GZ^D@TN

    11=(114 O`mzhj`hlhi`n `gd~}tz`cl' @gd~}tz`` dn anzongtczn

    11=':('= Q`g`a`mc`n' @gd~}tz`c q`g~l~`

    33>2' Tczcg, G`mhlcnTnbghlhi`c q`g~z`lhz }v~ocgtn ; C}vnmtn ohdnzgn ; Uohghizca`n_ ( G`mhlcn Tczcg, N~/

    ing`c ]hldctngmh 5 @g}t' t'/Vzcmt`m dn Bhzt`m~lt~z ` Tnbghlhi`` Cl`ongtczn' Mb' ; ]' g',:633 "T`vhiz' CO' =6=, U3_ v' ; a`i', tcj' 5 :> mo'

    J`jl`hiz'; v' :1>/=6: "14= t`t'' :66 nr'@]JG 092/009>/1:/:0:/0 "g mhv' tczn'U:633/330>_'/ / 3' Q`g~z` }v~ocgtn Tnbghlhi``'

    11='::=

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    29/176

    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    :0

    9 CZT' ZNMZNNZN' D@QNZT@]ONGT' ]VHZT

    93]@]TNOCT@[CZN A@[@M']@]TNOCT@[CZN ZNI@HGCL, ^ZJCG @ Z^ZCL'^ZJCG@]O'

    VN@]CKN

    'V

    CZM^Z@'

    IZD@G@33>0' Mngtz~l `}thz`m cl Mb``g~l~` lc gmnv~t~l }nmhl~l~` RR@/lnc ; Znvnzthz`~l ohg~/

    ongtnlhz dn czb`tnmt~z ( c~t', nmb`vc zn}v'; Jhz`} Icgicl, Tcoczc Gn}tnzhq, N~ing`cZjclmh Unt cl'_ 5 C}hm' m`q`m Mngtz~l ]@Tn' Mb' ; Czm, :636 "@ovz`oct g ^gicz`c' >19, U3_v' ; aht', aht' mhlhz 5 :: r :3 mo'

    C~t' }~gt `gd`mc` vn q}' a' dn t`t' J`jl`hiz'; v' >13/>19' Cvczn m~ }vz`k`g~l a`gcgm`cz clA~gdc`n` ]hzh} Ohldhqc, Vz`oz`n` O~g`m`v`~l~` Mb``g~' 3666 nr'

    @]JG 092/009>/13/>00/6 "g mhv' tczn'U:633/3:6:_'/ / 3' Ohg~ongtn dn czb`tnmt~z Mb``g~, }nmhl~l RR@'

    930"492/:>*:6*"6243316' O`lnc, Clnkcgdzh Ihg{ln{Gh~l hzc d`g ghzd~l Onr`m~l~` ; "}nm' R@R ( Clnkcgdzh Ihg{ln{ O`lnc 5 tzcd' d`g lj'

    }vcg'; Qclngt`gc J~{`l' Mb' ; Vhgth}, :633 "Mngtz~l Nd' cl ^C]O' =1 v' ; vlcgn 5 :3 mo'J`jl`hiz' g ghtn; v' =3/=1 ">3 t`t'' 3666 nr'@]JG 092/009>/>3/:>:/9'U:633/3333_'/ / 3' Czb`tnmt~zc hzcnlhz Onr`m, }nmhl~l R@R'

    933'4('1"9:*32*

    9=(91CZTN VLC]T@MN'CZTN DNMHZCT@QN9=CZTN VLC]T@MN

    3313' ]coj~z`m, NlngcNd~mc`c vlc}t`m ; Ocg' vngtz~ ml' c :/c ( Nlngc ]coj~z`m, L`l`c Vz`}mcz~ ; vhn{`` dn Cz/

    mcd`n ]~mnqncg~ 5 mho`}`c dn nqcl~czn; L`l`c Mczv, N~azh}`g`c Ohmcg, L`l`c Vclcocz` Unt cl'_ 5O`g' Nd~mc`n` cl Znv' Ohldhqc' Mb' ; Czm, :633 "Mhoj`gct~l Vhl`iz'' 0> v' ; dn}', a`i'mhlhz 5 :4 mo'

    :2666 nr'@]JG 092/009>/13/1:=/:'

    U:633/3:=3_'/ / 3' Nd~mc`n vlc}t`m Ocg~cln'9=(91"69>':

    9>(91V@MT^Z'CZTN IZCA@MN'IZCA@M'IZCQ^Z

    331:' J`ngclc `gtnzgc`hgcl *Izcq~z*; nd' c :/c :633 ( ^g`~gnc Czt`t`lhz Vlc}t`m`d`g Ohldhqc, ]nm`c Izca`m, D`znm`c M~lt~z c Vz`oz`n` o~g`m`v`~l~` Mb``g~ 5 mhhzd' nd';Qclnz`~ Bnzc 5 aht'; L~o`g`c Nzo~zcmbn' Mb' ; ]' g', :633 "T`vhiz' *Jhg} Haa`mn}* ]ZL' =1 v' ; aht', znvzhd' mhlhz 5 :3 r :3 mo'

    >66 nr'@]JG 092/009>/26/424/4'U:633/3341_'

  • 7/23/2019 BNM 2011-7

    30/176

    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    =6

    / / 3' Izcq~z Nrvh{```'91:'3;613'4

    90D@QNZT@]ONGT'ZNMZNNZN'KHM^Z@']VHZT

    90: Tnctz~' Czt }mng`m331=' Tnctz~l *]ct`z`m~}@hg L~mc Mczci`cln*; Nd' c :/c c An}t`qcl~l @gtnzg' cl Tnctz~/

    l~` *]ct`z`m~} @' L' Mczci`cln*, :> oc` ( =3 oc` :633 ( Mhg}`l`~l O~g`m`vcl Mb``g~, ^g`~gncTnctzcl d`g Ohldhqc' UMb' ; ]' g', :633_ "T`vhiz' *Jhg} Haa`mn}* ]ZL' :6, U3_ v' ; aht' mhlhz5 :6 r :6 mo' "Mhlnm`c ]ct`z`m~} @hg L~mc Mczci`cln'

    A' a' dn t`t'U:633/33=:_'/ / 3' Tnctz~l *]ct`z`m~} @hg L~mc Mczci`cln* d`g Mb``g~'

    90:"492/:>

    901(900 ]vhzt' Khm~z` }vhzt`qn' Nd~mc`n a`{`m3314' A`l`vngmh, N'I`ogc}t`mc ; Znmhocgdz` onthd`mn vngtz~ }t~dng`` ^]NA] vz`q`gd }t~d`~l m~z}~l~`

    tnhznt`m vzhizcoct ( N' A`l`vngmh, G' Thoc 5 ^g`q' dn ]tct dn Nd~mc`n A`{`m ` ]vhzt, Mctn/dzc dn I`ogc}t`m' Mb' ; *Qcl`gnr* ]ZL, :633' 92 v' ; a`i', tcj' 5 :6 mo'

    J`jl`hiz' lc }az`t~l tnonlhz' >6 nr'@]JG 092/009>/12/399/='U:633/33:3_'/ / 3' I`ogc}t`m'

    901'4"691'>

    2 L@GIQ@]T@M' A@LHLHI@N' L@TNZCT^Z26(23VZHJLNON INGNZCLN M^ VZ@Q@ZN LC L@GIQ@]T@M @ L@TNZCT^Z'A@LHLHI@N

    331>' M`hjcg~, Qclnz`cgCQN g~onln t~ ( Qclnz`cg M`hjcg~' Mb' ; ]' g', :633 "T`vhiz' CO' 3=: v' ; aht' 5

    :6 mo'@gd`mn dn g~on CQN; v' 3:2/3:0' :66 nr'@]JG 092/009>/1:/:21/2'U:633/330=_'

    / / 3' G~on dn vnz}hcgn' 23)=9=':=

    3311' *Lc l`gi~`}t`s~n ngtzn znmbnzmbn nt cvvl`mct`hg*, Mhllhs~n @gtnzg' ": 5 :6365 Mb``g~)' Lc l`gi~`}t`s~n ngtzn znmbnzmbn nt cvvl`mct`hg ? L`giq`}t`mc gtzn mnzmntczn `cvl`mczn ; Cmtn} d~ Mhllhs~n @gtnzg' hzicg`} l)hmmc}`hg d~ 4>/`on cgg`qnz}c`zn d~ Dv' dnVb`lhlhi`n Azcgc`}n *Iz`ihzn M`gm`ln`* dn l)^g`q' d)Ntct dn Ohldhqc, Mb``g~ ln 2 hmt' :636,Thon : ( mho' }m`ngt`a`s~n Qnzhg`mc Vm~zcz~, Inztz~dc Zhondnc, N}tnlln Qcz`ht Unt cl'_ 5mhhzd'; @hg I~~, Qnzhg`mc Vm~zcz~' Mb' ; MNV ^]O, :633' =>6, U3_ v' 5 :6 mo'

    Cgtnt`t' ; ^g`q' d) tct dn Ohldhqc' Acm' dn} Lcgi~n} nt L`t' tzcgizn}, Dnv' dn Vb`lh/lhi`n Azcgc`}n *Iz`ihzn M`gm`ln`*' Tnrtn; lj' zho', az' Zn{'; lj' zho', az' J`jl`hiz' lc }az`/

    t~l czt' ` g ghtnln dn }~j}hl' Cvczn m~ }vz`k`g~l a`gcgm`cz cl ^g`q' dn ]tct d`g Ohldhqc,Cingmn ^g`q' dn lc Azcgmhvbhg`n, Cll`cgmn Azcgc`}n dn Ohldcq`n' >6 nr'

  • 7/23/2019 BNM 2011-7

    31/176

    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    =3

    @]JG 092/009>/93/3:0/1'U:633/3:3=_'/ / 3' *Lc l`gi~`}t`s~n ngtzn znmbnzmbn nt cvvl`mct`hg* Mhllhs~n @gtnzgct`hgcl "zho', az')'

    23)3"62:?3=>'3?3=='3

    233 L`oj` `gd`q`d~cln233'333 L`ojc ngiln{

    3319' M`~gt~, Gctcl`cZn{~octn lc L`ojc Ngiln{ ; vngtz~ ml' 36/3: ; "mznct`q`tctnc, m`q`l`{c`c ` izcoct`mc (

    Gctcl`c M`~gt~' UNd' znq'_' Mb' ; *Tnh/Nd~mc`hgcl* ]ZL, :633 "T`vhiz' *Jhg} Haa`mn}*]ZL' 3=1 v' ; tcj' 5 36 r 3= mo' "Nd``n gh~'

    3>66 nr'@]JG 092/009>/433:/4/6'U:633/33=1_'

    / / 3' L`ojc ngiln{'233'333"69>'=

    3312' Ibnhzib`, NlngcTbn Mzcat ha Lcgi~cin ( Nlngc Ibnhzib` 5 ^g`q' dn ]tct d`g Znv' Ohldhqc, Acm' dn

    Lj' ` L`t' ]tz`gn, Mctndzc A`lhlhi`n Ngil' UNd' c :/c_' Mb' ; MNV ^]O, :633' 20, U3_ v' ;tcj' 5 :6 mo'

    J`jl`hiz'; v' 2:/22 ` lc }az`t~l mcv' >6 nr'@]JG 092/009>/93/600/:'U:633/3::3_'/ / 3' L`ojc ngiln{ L`giq`}t`m "ngil')'

    233'333)3"691'>

    3310' Tn}t Ph~z Ngil`}b ; Tn}t }covln} ahz tbn 36tb 3:tb ahzo}' ]~vvlnongtczp tn}tahz cdqcgmnd lnqnl }t~dngt}' Dnjctn ln}}hg}' Zhln/vlcp`gi cmt`q`t`n} ; Zncdp/ocdn cmt`q`t`n}ahz j~}p tncmbnz} ( L~do`lc Vcg~, @z`gc ]ck`gc, Qclngt`gc Mbnvtngn Unt cl'_ 5 zn}v' nd'; Nlngc]tct`' Mb' ; Lpmn~o, :633 "A'N'/V' *T`vhiz' Mngtzcl*' 319, U3_ v' ; tcj' 5 :4 mo'

    J`jl`hiz'; v' 319 "3= t`t'' =666 nr'@]JG 092/009>/0=0/11/0'U:633/3393_'/ / 3' L`ojc ngiln{ Tn}tn "ngil')'

    233'333"690

    3396' *^v/th/Dctn Tnmbg`s~n} cgd ]tzctni`n} `g Tncmb`gi Ngil`}b*, mhga' ":633 5Mb``g~)' ^v/th/Dctn Tnmbg`s~n} cgd ]tzctni`n} `g Tncmb`gi Ngil`}b ; CVLN Cgg~cl Mhga'Octnz`cl}, Cvz`l 0, UMb``g~_' Mb' ; MNV ^]O, :633' :3=, U3_ v' ; a`i', tcj' 5 :0 mo'

    Cgtnt`t'; C}hm' Vzhan}hz`lhz dn Lj' Ngil' Zn{'; lj' zho', z~}' J`jl`hiz' lc }az`t~l czt' >6 nr'

    @]JG 092/009>/93/3=6/:'U:633/3::6_'/ / 3' *^v/th/Dctn Tnmbg`s~n} cgd ]tzctni`n} `g Tncmb`gi Ngil`}b* Mhganz`g "ngil')'

    233'333"62:

    233'3= L`oj` zhocg`mn

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    32/176

    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    =:

    233'3=='3 L`ojc azcgmn{

    3393' ^gi~zncg~, Qclngt`gcZn{~octn lc L`ojc Azcgmn{ ; vngtz~ ml' 36/3: ; "mznct`q`tctnc, m`q`l`{c`c ` izcoct`mc (

    Qclngt`gc ^gi~zncg~, Q`hz`mc Hlcz~' UNd' znq'_' Mb' ; *Tnh/Nd~mc`hgcl*, :633 "T`vhiz'*Jhg} Haa`mn}* ]ZL' 3:2 v' ; tcj' 5 36 r 3= mo' "Nd``n gh~'

    3>66 nr'@]JG 092/009>/433:/1/4'U:633/33=9_'/ / 3' L`ojc azcgmn{'

    233'3=='3"69>'=

    233'3=>'3 L`ojc zhog

    339:' J~liz, IbnhzibnD`m`hgcz dn }`ghg`on ( Ibnhzibn J~liz' Mb' ; 'N'/V' *t``gc*, :633 "Mhoj`gct~l

    Vhl`iz'' :93 v' 5 :6 mo' "Mhlnm`c *D`m`hgczn mhlczn*'>666 nr'@]JG 092/009>/19/926/1'U:633/3339_'/ / 3' L`ojc zhog D`m`hgczn' :' D`m`hgcz dn }`ghg`on'

    233'3=>'3)=94':)=9='4:3

    339=' J~liz, IbnhzibnD`m`hgcz dn }`ghg`on ( Ibnhzibn J~liz' UNd' c :/c_' Mb' ; 'N'/V' *t``gc*, :633

    "Mhoj`gct~l Vhl`iz'' :93 v' 5 :3 mo' "Mhlnm`c *D`m`hgczn mhlczn*'>666 nr'@]JG 092/009>/19/990/6 "g mhv' tczn'U:633/33:4_'/ / 3' L`ojc zhog D`m`hgczn' :' D`m`hgcz dn }`ghg`on'

    233'3=>'3)=94':)=9='4:3

    3394' Mc{cm~, TcoczcD~lmn izc` ; L`ojc ` l`tnzct~zc zhog ; Ocg' vngtz~ nlnq`` ml' c 0/c d`g m' m~ `g}tz~`zn

    g lj' z~} ( Tcoczc Mc{cm~, @~l`c Ocnq}mb`, Icl`gc ]tcb` 5 mho`}`c dn nqcl~czn; Tct`cgcIbnhzib`, G`gc V~ljnzn, ]ha`c ]`o`hgmc Unt cl'_ 5 O`g' Nd~mc`n` cl Znv' Ohldhqc' UNd' c:/c_' Mb' ; Czm, :633 "A' N'/V' *T`vhiz' Mngtzcl*' :26 v' ; aht', `l' 5 :4 mo'

    0666 nr'@]JG 092/009>/13/13:/1'U:633/3312_'/ / 3' L`ojc zhog vngtz~ clhl`giq` Ocg~cln' :' L`tnzct~z zhog Ocg~cln'

    233'3=>'3):4=%2:3'3=>'3'60"69>'=

    339>' Mc{cm~, TcoczcL`ojc zhog ; Ocg' vngtz~ nlnq`` ml' c >/c c m' m~ vzndczn g lj' z~} ( Tcoczc

    Mc{cm~ 5 mho`}`c dn nqcl~czn; ]`lq`c `lhq, Vczc}mhq`c Vntzhq, Tct`cgc Ibnhzib` 5 vzn{'izca'; Clnr ^}}hy 5 O`g' Nd~mc`n` cl Znv' Ohldhqc' Mb' ; L~o`gc, :633 "A'N'/V' *T`vhiz'Mngtzcl*' 303, U3_ v' ; a`i' mhlhz 5 :4 mo' "]tzgin` v`ctzc l~m`thczn'

    33>66 nr'@]JG 092/009>/1>/391/0'

  • 7/23/2019 BNM 2011-7

    33/176

    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    ==

    U:633/3319_'/ / 3' L`ojc zhog vngtz~ clhl`giq` Ocg~cln'

    233'3=>'3):4="69>'=

    3391' Mc{cm~, TcoczcL`ojc zhog ; Ocg' vngtz~ nlnq`` ml' c 1/c c m' m~ vzndczn g lj' z~} ( Tcoczc

    Mc{cm~, @~l`c @hzdmbn}~, Lcz`}c I~{c 5 mho`}`c dn nqcl~czn; Tct`cgc Ibnhzib`, Vczc}mhq`cVntzhq, ]`lq`c `lhq 5 O`g' Nd~mc`n` cl Znv' Ohldhqc' Mb' ; L~o`gc, :633 "A'N'/V' *T`vhiz'Mngtzcl*' 303, U3_ v' ; a`i' mhlhz, tcj' 5 :4 mo' "^g vc} }vzn }~mmn}'

    33466 nr'@]JG 092/009>/1>/399/1'U:633/331>_'/ / 3' L`ojc zhog vngtz~ clhl`giq` Ocg~cln'

    233'3=>'3):4="69>'=

    3399' Ngm`~, Nmctnz`gcLnm`` vngtz~ qcmcg ; dn lc ml' c :/c lc ml' c =/c ( Nmctnz`gc Ngm`~, Q`hz`mc Ocz`' Nd'

    Uc :/c_, znq' ` mhovl' Mb' ; Lpmn~o, :633 "A'N'/V' *T`vhiz' Mngtzcl*' 364 v' ; `l' 5 :4 mo'=666 nr'@]JG 009>/0904/>/0 "nzhgct'U:633/3326_'

    233'3=>'3%>3"69>':

    3392' Lc{z, HcgcZn{~octn lc L`ojc Zhog ; vngtz~ ml' >/0 ; Izcoct`mc ( Hcgc Lc{z' UNd' znq'_'

    Mb' ; *Tnh/Nd~mc`hgcl* ]ZL, :633 "T`vhiz' *Jhg} Haa`mn}* ]ZL' 3:2 v' ; tcj' 5 36 r 3= mo'

    "Nd``n gh~'3>66 nr'@]JG 092/009>/433:/2/2'U:633/33=2_'/ / 3' L`ojc zhog Izcoct`m'

    233'3=>'3)=1"69>'=

    3390' L`ojc ` l`tnzct~zc zhog ; Ocg' vngtz~ ml' c 1/c ( Cginlc Izcoc/Tho`, L`q`c]tctn, L`l`cgc G`mhlcn}m~/Hghazn` Unt cl'_ 5 mho`}`c dn nrvnz`; Cgcthl Ohzcz~, Clnrcgdz~J~zlcm~, Nlnhghzc A`l`vhq`m` Unt cl'_ 5 O`g' Nd~mc`n` cl Znv' Ohldhqc' Mb' ; Mczt`nz, :633"Mhoj`gct~l Vhl`iz'' 30=, U:_ v' ; a`i', tcj' mhlhz 5 :4 mo' "Mhlnm`c *Mczt`nz nd~mc`hgcl* (

    mhhzd' dn L`l`cgc G`mhlcn}m~/Hghazn`'Cvczn m~ }vz`k`g~l a`gcgm`cz cl Ahgd~l~` Nrtzcj~intcz vngtz~ Ocg~cln' 43>66 nr'@]JG 092/009>/90/109/:'U:633/3:>>_'/ / 3' L`ojc zhog Ocg~cln' :' L`tnzct~z zhog Ocg~cln'

    233'3=>'3%2:3'3=>'3'60"69>'=

    3326' Oczm~, Alhz`gD`m`hgcz dn gnhlhi`}on ( Alhz`g Oczm~' Nd' c =/c, cmt~cl`{ct ` mhovl' Mb' ; 'N'/V'

    *t``gc*, :633 "Mhoj`gct~l Vhl`iz'' =30 v' 5 :6 mo' "Mhlnm`c *D`m`hgczn mhlczn*'J`jl`hiz'; v' =32/=30' >666 nr'

    @]JG 092/009>/19/992/='U:633/33:=_'

  • 7/23/2019 BNM 2011-7

    34/176

    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    =4

    / / 3' L`ojc zhog D`m`hgczn' :' D`m`hgcz dn gnhlhi`}on L`ojc zhog'233'3=>'3)=94':)=9='4=

    3323' Oczm~, Alhz`gD`m`hgcz dn gnhlhi`}on ( Alhz`g Oczm~' Nd' Uc 4/c_ cmt~cl`{ct ` mhovl' Mb' ; 'N'/

    V' *t``gc*, :633 "Mhoj`gct~l Vhl`iz'' =30 v' 5 :6 mo' "Mhlnm`c *D`m`hgczn mhlczn*'J`jl`hiz'; v' =32/=30 "V' =32/=30' "44 t`t'' >666 nr'@]JG 092/009>/19/999/1 "g mhv' tczn'U:633/3301_'/ / 3' L`ojc zhog D`m`hgczn' :' D`m`hgcz dn gnhlhi`}on L`ojc zhog'

    233'3=>'3)=94':)=9='4=

    332:' Ocz`g, Ocz`cgcL`ojc zhog ; Ml' c =/c ; Tn}tn dn nqcl~czn ahzoct`q ` }~oct`q ( Ocz`cgc Ocz`g, Tc/

    t`cgc G`m~lmnc' Nd' c :/c' Mb' ; Mczt`nz, :633 "Mhoj`gct~l Vhl`iz'' =1 v' ; a`i' 5 :4 mo' "Mhlnm`c *Mczt`nz nd~mc`hgcl* ( mhhzd' dn L`l`cgc G`mhlcn}m~/Hghazn`'

    >666 nr'@]JG 092/009>/90/104/3'U:633/3309_'/ / 3' L`ojc zhog Tn}tn'

    233'3=>'3"690

    332=' Ocz`g, Ocz`cgcL`ojc zhog ; Ml' c 4/c ; Tn}tn dn nqcl~czn ( Ocz`cgc Ocz`g, Tct`cgc G`m~lmnc ' Nd'

    c :/c' Mb' ; Mczt`nz, :633 "Mhoj`gct~l Vhl`iz'' =>, U3_ v' ; a`i', tcj' 5 :4 mo' "Mhlnm`c*Mczt`nz nd~mc`hgcl* ( mhhzd' dn L`l`cgc G`mhlcn}m~/Hghazn`'

    2666 nr'@]JG 092/009>/90/10>/2'U:633/3::0_'/ / 3' L`ojc zhog Tn}tn'

    233'3=>'3"690

    3324' Ocz, Q`hz`mcLnm`` vngtz~ qcmcg ; dn lc ml' 3 lc ml' c :/c ( Q`hz`mc Ocz, Nmctnz`gc Ngm`~' Nd' Uc

    :/c_, znq' ` mhovl' Mb' ; Lpmn~o, :633 "A'N'/V' *T`vhiz' Mngtzcl*' 9: v' ; `l' 5 :4 mo'=666 nr'@]JG 009>/0904/>/0 "nzhgct'

    U:633/3323_' 233'3=>'3%>3"69>':

    G`m~lmnc, Tct`cgc' L`ojc zhog' Qn{` Gz 3:31'

    332>' Hjznkc/Ocz, Q`hz`mcLnm`` vngtz~ qcmcg ; dn lc ml' c =/c lc ml' c 4/c ( Q`hz`mc Hjznkc/Ocz, Nmctnz`gc Oz``/

    Ngm`~' Nd' Uc :/c, znq' ` mhovl'_' Mb' ; Lpmn~o, :664 "A'N'/V' *T`vhiz' Mngtzcl*' 362 v'; `l' 5 :4 mo'

    =666 nr'@]JG 009>/02:9/1/R "nzhgct'

    U:633/3390_' 233'3=>'3%>3"69>':

  • 7/23/2019 BNM 2011-7

    35/176

    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    =>

    233'313': L`ojc ~mzc`gncg

    3321' , ' ' ; `` : ' ( ' ' , ' '

    ` 5 mho`}`c dn nqcl~czn; Clj`gc L`~g`q}`ec, Hrcgc Ondqndngeh, ]qntlcgc Iz`jhq}`ec5 dn}'; Cgc Nqt~ngeh 5 O`g' Nd~mc`n` cl Znv' Ohldhqc' Mb' ; 'N'/V' *t``gc*, :633 "Mho/j`gct~l Vhl`iz'' :69, U3_ v' ; dn}' mhlhz 5 :4 mo'

    3366 nr'@]JG 092/009>/19/919/9'U:633/33:6_'/ / 3' L`ojc ~mzc`gncg Ocg~cln "~mz')' :' L`tnzct~z ~mzc`gncg Ocg~cln "~mz')'

    233'313':%2:3'313':'60"69>':

    3329' ; 1 ' ( ' ' , ' ', ' @' `` U '_ 5 mho`}`c dn nqcl~czn; Clj`gc L`~g`q}`ec, ]qntlcgc

    Iz`jhq}`ec, Hrcgc Ondqndngeh 5 dn}'; N' Nqt~ngeh 5 O`g' Nd~mc`n` cl Znv' Ohldhqc' Mb'; 'N'/V' *t``gc*, :633 "Mhoj`gct~l Vhl`iz'' =36 v' ; dn}', tcj', U0_ v' ; dn}' mhlhz 5 :4 mo'3666 nr'@]JG 092/009>/19/91>/='U:633/33>6_'/ / 3' L`ojc ~mzc`gncg Ocg~cln "~mz')' :' L`tnzct~z ~mzc`gncg Ocg~cln "~mz')'

    233'313':%2:3'313':'60"69>'=

    233'31=': L`ojc j~licz

    3322' , ; 1' ' ( , , /

    5 mho`}`c dn nrvnz`; Gcdnkdc Dnzongk`, Tcoczc Ec}`z, Ocz`c Mczgcnqc 5 / ' ' =/, ' ' ; Mczt`nz, :633 "T`vhiz' *]nznj`c* ]ZL' :>> v' ; `l'5 :4 mo' "Mhlnm`c *Mczt`nz nd~mc`hgcl* ( mhhzd' dn L`l`cgc G`mhlcn}m~/Hghazn`'

    36:6 nr'@]JG 092/009>/90/120/9'U:633/33>3_'/ / 3' L`ojc j~licz Ocg~cln "j~li')' :' L`tnzct~z j~licz Ocg~cln "j~li')'

    233'31=':%2:3'31=':'60"69>'=

    3320' , ; ; ' :' ( ,

    5 mho`}`c dn nqcl~czn; Ocz`c Izd`gcz, Nmctnz`gc Vntzhqc 5 O`g'Nd~mc`n` cl Znv' Ohldhqc' Mb' ; 'N'/V' *t``gc*, :633 "Mhoj`gct~l Vhl`iz'' 32:, U3_ v' ;dn}' mhlhz 5 :4 mo'

    066 nr'@]JG 092/009>/19/914/1'U:633/3330_'/ / 3' L`ojc j~licz'

    233'31=':"69>':

  • 7/23/2019 BNM 2011-7

    36/176

    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    =1

    2:L@TNZCT^Z

    2:(2:3 L`tnzct~z czt`}t`m

    2:3 L`tnzct~zc l`oj`lhz `gd`q`d~cln

    2:3'3=3'3 L`tnzct~z `tcl`cg

    3306' @ovcz`coh dc` vzhqnzj`# ; Zcmmhltc d` vzhqnzj` `tcl`cg` ( clmt'; Mhzgnl`c J~khz' Mb' ; U*Iczhohgt ]t~d`h* ]ZL_, :636' 322 v' 5 :3 mo'

    J`jl`hiz'; v' 322 "36 t`t'' :6 nr'@]JG 092/009>/4::=/3/4'U:633/3:>2_'/ / 3' L`tnzct~z `tcl`cg Vzhqnzjn "`t')'

    2:3'3=3'3/24

    2:3'3=>'3"492) L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc

    3303' Cacgc}, Tct`cgcCo ~`tct } ~`t dn t`gn ; qnz}~z` ( Tct`cgc Cacgc}' Mb' ; Cgmn}tzclc, :633 "T`vhiz' *Zn/

    mlcoc* ]C' 21, U:_ v' ; `l' 5 :6 mo'=66 nr'@]JG 092/009>/4:30/6/4'U:633/332>_'/ / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc Vhn{`n'

    2:3'3=>'3"492/3 Cacgc}

    330:' Jhjg, L`d`cVhqnt` cdnqzctn ; Uvhqn}t`z`_ ( L`d`c Jhjg 5 mhv'; Dzcih Jhjg, Mhzgnl`~Mhongdcgt' Mb' ; *K~zgcl dn Mb``g~* ]ZL, :633 "T`vhiz' *Vzci/=* ]ZL' :>4, U:_ v' 36 r

    39 mo'1666 nr'@]JG 092/009>/4::>/6/>'U:633/3324_'/ / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc Vhqn}t`z`'

    2:3'3=>'3"492/=: Jhjg

    330=' Mclczc, @ihzAzogtz` dn }~alnt ; Uqnz}~z`_ ( @ihz Mclczc 5 vzn{' izca' Mclczc @ihz, Q`mthz`c ]g`m,

    Qclnz`c Jhz{`cm' Mb' ; *Czt Iz~v Jz`qnt* ]ZL, :633' 02 v' ; `l', aht' 5 :3 mo'>6 nr'@]JG 092/009>/439:/3/3'U:633/330:_'/ / 3' L`tnzct~zc zhog d`g Znv~jl`mc Ohldhqc Vhn{`n'

    2:3'3=>'3"492/3 Mclczc

    3304' Mhl~g, IbnhzibnCght`ov~l go~i~z`z`` m~q`gtnlhz ; Uqnz}~z`_ ( Ibnhzibn Mhl~g' Mb' ; U*Ohldvzn}* C]_,

    :633' :01 v' 5 :6 mo'J`jl`hiz'; v' :01' Cvczn m~ }vz`k`g~l a`gcgm`cz cl Mhovcg`n` ]tczGnt' :>6 nr'@]JG 092/009>/4393/=/1'

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    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    =9

    U:633/33:9_'/ / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc Vhn{`n'

    2:3'3=>'3"492/3 Mhl~g

    330>' Mhl~g, IbnhzibnMlnv}`dzc m~ jhcjn dn l~o`g ; Uqnz}~z`_ ( Ibnhzibn Mhl~g' Mb' ; U*Ohldvzn}* C]_,

    :633' :64 v' 5 0 r 34 mo'J`jl`hiz'; v' :6=/:64' Cvczn m~ }vz`k`g~l a`gcgm`cz cl Mhovcg`n` ]tczGnt' =66 nr'@]JG 092/009>/4393/:/0'U:633/33:1_'/ / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc Vhn{`n'

    2:3'3=>'3"492/3 Mhl~g

    3301' Mhj{cm, Q`mthzgthczmnznc }tnlnlhz ; Uqnz}~z` ; g qhl'_ ( Q`mthz Mhj{cz 5 mhhzd'; [`gc @{jc 5 vzn{' izca';

    Q`mthz Mhj{cm 5 mhv'; Hrcgc Mhj{cm/Ocz`gn}m~, Q`mthz Mhj{cm' Mb' ; *Tnbg`mc/@gah* ]ZL,:633 "A'N'/V' *T`vhiz' Mngtzcl*' :6 mo' "gtzn vcg ` vngnl' @]JG 092/009>/1=/=:9/9'

    Qhl' 3' :633' 326 v' ; `l' >66 nr' @]JG 092/009>/1=/=:2/4' U:633/3311_'/ / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc Vhn{`n'

    2:3'3=>'3"492/3 Mhj{cm

    3309' Dcz`ngmh, Mlc~d`cDn dzci dn qh` ; Dn}vzn `~j`zn, dhz ` kcln ; "qnz}~z`, n}n~z`, c~thizcan ( Mlc~d`c

    Dcz`ngmh 5 v`mt'; Cginlc Mcgd~, Qncmn}lcq A`}t`mcg~' Mb' ; @~l`cg "*Nd`t/Vzn}t* ]ZL' 314v' ; `l', `l' mhlhz 5 :6 mo'

    J`jl`hiz'; v' 316/313 ":: t`t'' @gd' dn g~on; v' 31:' >66 nr'@]JG 092/009>/4309/4/3'U:633/3303_'/ / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc Vhn{`n N}n~z` C~thizcan'

    2:3'3=>'3"492/3 Dcz`ngmh

    3302' D~o`tzc, G`gcVc}zn dnc}~vzc il`n` ; Qnz}~z` ( G`gc D~o`tzc 5 vzna'; Cg' M`hmcg~ 5 mhv'; Z~rcgdc

    Zhocgm`~m' Mb' ; Vhgth}, :633 "Mngtz~l Nd' cl ^C]O' 36=, U3_ v' 5 :6 mo'366 nr'@]JG 092/009>/>3/:10/>'

    U:633/3:1=_'/ / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc Vhn{`n'2:3'3=>'3"492/3 D~o`tzc

    3300' Vhvhq`m`, Tnhdhz>66 dn jcgm~z` m~ dn}vzn jzjc` ; "g nrml~}`q`tctn vngtz~ d`}tzcm`c anon`lhz ` mctnihz`m

    `gtnz{`} jzjc`lhz ( Tnhdhz Vhvhq`m`' Mb' ; ]' g', :633 "T`vhiz' Nd' *^g`qnz}~l* @' :31 v'36 r 34 mo'

    :666 nr'@]JG 009>/094=/0/: "nzhgct'U:633/333>_'

    / / 3' Jcgm~z`' 2:3'3=>'3"492/=1 Vhvhq`m`

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    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    =2

    3:66' Vhvhq`m`, TnhdhzUM~lninzn dn nv`izcon_ ( Tnhdhz Vhvhq`m`' UMb' ; ]' g'_, :633 "T`vhiz' Nd' *^g`qnz}~l*

    ]' 46 v' ; `l' mhlhz 5 :6 mo'U:633/369=_'

    / / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc Nv`izcon' 2:3'3=>'3"492/30=': Vhvhq`m`

    3:63' Vh}thlcmb`, Dh`gcVhnon m~ Ohl`` ( Dh`gc Vh}thlcmb`' Mb' ; Vzhontn~, :633 "Mhoj`gct~l Vhl`iz'' >>,

    U3_ v' 5 :6 mo':666 nr'@]JG 092/009>/030/21/0'U:633/3331_'/ / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc Vhnon'

    2:3'3=>'3"492/3 Vh}thlcmb`

    3:6:' ]`lqn}tz~, C~znl`cgAzon dn }~alnt ; Un}n~z`_ ( C~znl`cg ]`lqn}tz~ 5 dn}', mhv'; C~znl`cg ]`lqn}tz~' Mb' ;

    Thmhgh, :633 "Mhoj`gct~l Vhl`iz'' =96, U3_ v' ; dn}' mhlhz 5 :3 mo'g mhv' tczn'U:633/3:1:_'/ /3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc N}n~z`'

    2:3'3=>'3"492/4 ]`lqn}tz~

    3:6=' Tczlcvcg, Na`o]mz``thz~l gtznjct ; "D`clhi~z` g cgt`mconzc K~dnm`` dn Cvh` ( Na`o Tczlcvcg' Mb' ;

    *Lcj`z`gt/M~tc}nq`m`* @, :633' :60, U3_ v' 5 :6 mo'366 nr'@]JG 092/009>/042/>:/4'U:633/33:0_'/ / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc D`clhi~z`'

    2:3'3=>'3"492/2= Tczlcvcg

    3:64' hvc, T~dhzHo~l cm`~g`` ; U96 dn cg` dn cl gctnznc vzha' ~g`q' Mhg}tcgt`g Nmh_ ( T~dhz hvc 5

    mhg}~ltcg` t'; Ibnhzibn Ib`d`z`o, Q`hznl Vz`}mcz~, @~z`n Mhln}g`m 5 znd'/mhhzd'; L`q`~ Jnl`' Mb' ; A~gdc`c *Dzcib`tnc*, :633 "A'N'/V' *T`vhiz' Mngtzcl* =31 v' ; aht', aht' mhlhz, U4_ v'

    aht' mhlhz 5 :: mo'Zn{'; lj' zho', ngil', az', `t', z~}' >66 nr'@]JG 092/009>/92/020/0 "g mhv' tczn'U:633/3310_'/ / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc'

    2:3'3=>'3"492/=: hvc

    2:3'313':"492) L`tnzct~z ~mzc`gncg d`g Znv~jl`mc Ohldhqc

    3:6>' Vhvhq`m`, Mhg}tcgt`g]mz`nz` cln}n ; Ug 3> qhl'_ ( 5 Cmcd' dn t``gn c Ohldhqn`, @g}t' Vc/

    tz`ohg`~l M~lt~zcl' Mb' ; *Nlcg @gm* ]ZL, :660 "T`vhiz' *Nlcg Vhl`izca* ]ZL' :3 mo' @]JG092/009>/11/610/='

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    40/176

    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    46

    3:36' Gnci~, OcghlnDh, Zn, O` lgi `{qhz ; qnz}~z` ` o~{' vngtz~ mhv`` ( qnz}~z`; Ocghln Gnci~ 5 o~{'; Cg/

    thg Vcqnl 5 ghthiz'; Icjz`nl Cgdzhg`m 5 mhv'; Z~rcgdc Zhocgm`~m' Mb' ; Vhgth}, :633"*T`vhiz' Znmlcoc* ]C' :4 v' ; g' o~{' 5 :6 mo' M~vz`g}; Z~i 5 J~g d`o`gncc# 5 Zc{c/

    ml~{ 5 Mnl oc` j~g~l ` oc` j~g~l 5 Dn m~o }hcznln z}czn 5 Dn}mgtnm m~ ib`hmnl 5 Qn}tnmc/o vhqn}tn 5 Oczn/` l~onc# 5 Mc}c zgd~g`m`` 5 Qzj`~c 5 [jcq 5 Gh` 5 ]hczn vn c}aclt 5M`hmg`thcznc/}cg`tcz 5 Lc vz`t 5 gqthcznc 5 gqcz ahcztn j`gn 5 V`r~l 5 Q`gn qczc 5 Clj`/g~c 5 Vc{g`m~l 5 Thcogc 5 Vc}tnl thogct`m 5 L`jnl~lc 5 Mgd az~g{c mcdn/{jhcz 5 A~li~l 5G`gin 5 O~}ca`z~l 5 ]g`~c q`}thczn 5 Tht~` `czgc n az~ohc} 5 Dh`gc ghc}tz 5 Qgt~/cd~mnvz`oqczc 5 Dh, Zn, O`, lgi `{qhz'

    >66 nr'@]OG 090/6/=426/63:9/:'@]JG 092/009>/>3/:1:/1'U:633/3329_'

    / / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc vngtz~ mhv`` Qnz}~z` onlhd`mn'2:3'3=>'3"492/30:/0= Gnci~

    3:33' Gnci~, OcghlnIb`m`thz` vn vhztct`q ; qnz}~z` ` o~{' vngtz~ mhv`` ( tnrt; Ocghln Gnci~ 5 o~{'; Vcqnl

    Cgthg 5 ghthiz'; Icjz`nl Cgdzhg`m 5 mhv'; Z~rcgdc Zhocgm`~m' Mb' ; Vhgth}, :636 "*T`vhiz'Znmlcoc* ]C' 30, U3_ v' ; g' o~{' 5 :6 mo' M~vz`g}; Izn`nzc~l 5 L~gc 5 Cz`m`~l 5 Onlm~l 5Qcmc ` hc`c 5 Mnl~~l 5 Ml~~l 5 Tzng~~l 5 hz`mnl~l 5 V`}`mc 5 Zh`c 5 Ohzmhq~l 5 Zoc 5Jh~~l 5 Qgt~l 5 ]hog~l 5 M`gnln 5 Qnqnz`c 5 Mnc}hzg`m~l 5 Ib`h{dcg~l 5 V`gnc 5 Al~t~znln 5M~m~l 5 Zgd~g`mc 5 V`cgkng~l 5 Inz~l 5 Ln~l 5 I}mc 5 Ci~dc 5 Vz}cdc 5 @nd~~l 5 O`nl~`` 5A~zg`mcz~l 5 Jzhc}mc n}thc}'

    =66 nr'@]OG 090/6/=426/6366/>'@]JG 092/009>/>3/32=/4'U:633/3321_'/ / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc vngtz~ mhv`` Qnz}~z` onlhd`mn'

    2:3'3=>'3"492/30:/0= Gnci~

    3:3:' Vhdznc, Qclngt`gc@lncgc Mh}g{ncgc ` }~zhz`ln n` ; Uvhqn}tn_ ( Qclngt`gc Vhdznc 5 Uv`mt'_ ; Ihznc

    Cg`hczc' UMb' ; *Nlcg @gm* ]ZL, :633 "T`vhiz' *Nlcg Vhl`izca* ]ZL_' 3=, U:_ v' ; dn}' mhlhz5 =6 mo'

    A' a' dn t`t' =>66 nr'@]JG 092/009>/11/::1/6'U:633/3:=9_'/ / 3' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc vngtz~ mhv`` Vhqnt`'

    2:3'3=>'3"492/0= Vhdznc

    2:(2:3'6 Tnhz`c, }t~d`~l ` tnbg`mc l`tnzct~z``

    3:3=' , ;

    "RQ@/RQ@@@ ( 5 ' / * * ' /

    ' ' ; *J~}`gn}}/Nl`tc* VV ]ZL, :636' ==> v' 5 :6 mo'J`jl`hiz'; v' =:9/==> ` g ghtn lc }az`t~l mcv' 366 nr'

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    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    43

    @]JG 092/009>/466:/0/0'U:633/3:69_'/ / 3' L`tnzct~z n~zhvncg Mz`t`m ` `gtnzvzntczn "j~licz)'

    2:3"4'60

    3:34' ' ; U', ', ' /, ' ' _ ( ' , / ' ' ' ; *Nlcg @GM*, :636 "T`vhiz' *Nlcg Vhl`izca* ]ZL' :01 v', U14_ v' aht', aht' mhlhz 5 :3 mo' "Mhg}tcgt`g Vhvhq`m`' ]mz`nz` cln}n'

    Tnrtn; lj' zho', z~}, ~mz' J`jl`hiz' g ghtnln dn }~j}hl' =66 nr'@]JG 092/009>/11/:3:/= "g mhv' tczn'U:633/3:=0_'/ / 3' Vhvhq`m`, Mhg}tcgt`g, 30:4/:636, cmcdno`m`cg, }mz``thz "zho', z~}, ~mz')'

    2:3'60?3=>'3?313'3?313':

    2:3'3=>'3'6 L`tnzct~z zhog

    Mc{cm~, Tcoczc' D~lmn izc`' Qn{` Gz 3394'

    L`ojc ` l`tnzct~zc zhog' Qn{` Gz 3390'

    3:3>' Ocz`g, Ocz`cgcL`ojc zhog ; ml' c 4/c ; Mcztn dn lnmt~z ( Ocz`cgc Ocz`g, Tct`cgc G`m~lmnc' Nd' c :/

    c' Mb' ; Mczt`nz, :633 "Mhoj`gct~l Vhl`iz'' 3:>, U=_ v' ; a`i', tcj' 5 :4 mo' "Mhlnm`c *Mcz/t`nz nd~mc`hgcl* ( mhhzd' dn L`l`cgc G`mhlcn}m~/Hghazn`'

    39666 nr'

    @]JG 092/009>/90/101/>'U:633/3::2_'/ / 3' L`tnzct~z zhog Tnrtn' :' L`ojc zhog Tnrtn l`tnzczn'

    2:3'3=>'3'60%233'3=>'3"69>':

    3:31' G`m~lmnc, Tct`cgcL`ojc zhog ; ml' c =/c ; Mcztn dn lnmt~z ( Tct`cgc G`m~lmnc, Ocz`cgc Ocz`g' Mb' ;

    Mczt`nz ]ZL, :633 "Mhoj`gct~l Vhl`iz'' Nd' c :/c' 3:4, U4_ v' ; a`i', tcj' 5 :4 mo' "Mhlnm/`c *Mczt`nz nd~mc`hgcl* ( mhhzd' dn L`l`cgc G`mhlcn}m~/Hghazn`'

    34666 nr'@]JG 092/009>/90/10=/4'

    U:633/3302_'/ / 3' L`tnzct~z zhog' :' L`ojc zhog'2:3'3=>'3'60%233'3=>'3"69>':

    2:3'3=>'3"492)'6 L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc

    3:39' Qlcd`o`z Jnlnci, ho~l l~o`gct ; U}mz``thz_( Cmcd' dn t``gn c Ohldhqn`, @g}t'dn A`lhlhi`n 5 mhl' znd'; O`bc` M`ovh`, G`mhlcn J`lnmb`, Clnrcgdz~ J~zlcm~ Unt cl'_' Mb' ; 'N'/V' *t``gc*, :633 "Mhoj`gct~l Vhl`iz'' =:9 v' ; aht' 5 :: mo' "Vnz}hgcl`t` ghthz``'

    J`jl`hiz' lc }az`t~l czt' 3666 nr'@]JG 092/009>/19/921/2 "g mhv' tczn'

    U:633/3:>1_'

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    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    4:

    / / 3' Jnlnci, Qlcd`o`z, 30=3/ , }mz``thz' :' L`tnzct~z zhog d`g Znv~jl`mc Ohldhqc Mz`t`m ` `gtnzvzntczn'

    2:3'3=>'3"492'60"60:

    2:3'313': L`tnzct~z ~mzc`gncg

    , ' ' ' Qn{` Gz 3321'

    ` `' Qn{` Gz 3329'

    2:3'31=': L`tnzct~z j~licz

    , ' ' Qn{` Gz 3322'

    0 INHIZCA@N' J@HIZCA@@' @]THZ@N

    03INHIZCA@N'NRVLHZCZNC VOGT^L^@ @ C D@ANZ@TNLHZ Z@'MLTHZ@@03= Inhizca`n zni`hgcl g ingnzcl' Inhizca`c l~o`` cgt`mn ` ohdnzgn

    3:32' Inhizca`c mhgt`gngtnlhz ` hmncgnlhz ; Ocg' vngtz~ ml' c 1/c ( Gctcl`c Hdhlncg~,Ocz`cgc K`hczc, Lcz`}c ^gi~zncg~ Unt cl'_ 5 mho`}`c dn nqcl~czn; Q`tcl`n ]hmb`zm, Nazh}`g`cZ~}~, G`mhlcn ]vg~ Unt cl'_ 5 b'; Q`tcl`n ]tnlnc, @czh}lcq Hl`g`m 5 O`g' Nd~mc`n` cl Znv' Ohldh/qc' Mb' ; Czm, :633 "Mhoj`gct~l Vhl`iz'' 3:9 v' ; a`i', b', tcj' mhlhz 5 :4 mo'

    :2666 nr'@]JG 092/009>/13/1:>/1'U:633/3:=6_'

    / / 3' Inhizca`c mhgt`gngtnlhz ` hmncgnlhz Ocg~cln' 03=":3(:1"69>'=

    0:0 t``gn j`hizca`mn ` gz~d`tn

    @cgh ~zmcg~' Qn{` Gz 361>'

    Ohd~} mhi`tcgd`, ohd~} q`qngd`' Lcz`}c M~{gnhq ]nmz`nz~' Qn{` Gz 3611'

    cvm, @hg' Cmcdno`m`cg~l Mhg}tcgt`g Vhvhq`m`' ]cqcgt, }mz``thz, v~jl`m`}t' Qn{` Gz3619'

    vcm, @hg' Mhg}tcgt`g ]tnzn }mz``thz~l, v~jl`m`}t~l, vhl`t`m`cg~l, k~z`}t~l, ho~l' Qn{` Gz3612'

    0=(04@]THZ@N

    04@]THZ@N INGNZCL'@]THZ@N ^G@QNZ]CL

    04"366) @}thz`n ~g`qnz}cl

    3:30' Vntzngm~, Cgcthl@}thz`c ^g`qnz}cl ; Nvhmc mhgtnovhzcg ; Ocg' vngtz~ ml' c 0/c ( Cgcthl Vntzngm~, Oc/

    `c Dhj{n~' Mb' ; 'N'/V' *t``gc*, :633 "T`vhiz' *]nznj`c* ]ZL' 363, U=_ v' ; `l' mhlhz 5 :1mo'

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    44/176

    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    44

    04"492/::

    3::4' ; ; U/c_ ( /, / / 5 ' / ; U*Nlcg @GM* ]ZL_, :636 "T`vhiz' *Nlcg Vhl`izca* ]ZL' 3=>, U3_ v' ; aht', aht' mhlhz 5 :>

    mo' 96/ / '416 nr'@]JG 092/009>/11/::>/= "g mhv' tczn'U:633/3:=2_'/ / 3' Zc`hg~l Mncdz/L~gic Znv~jl`mc Ohldhqc @}thz`n "z~})'

    04"492/:3

    04"?433'31) @}thz`c nqzn`lhz

    3::>' * *, ' ' '":633 5 )' ; ' ' ', U:

    :633_ ( '; ', ', ' U '_' ' ; UNlcg @gm* ]ZL_,:633 "T`vhiz' *Nlcg Vhl`izca* ]ZL' 3=1 v' ; tcj' 5 :3 mo'Cgtnt`t'; K~dc`mc @g}t' @gtzhd' g lj' ngil' J`jl`hiz' g ghtnln dn }~j}hl' 366 nr'@]JG 092/009>/11/:=9/1'U:633/3:=:_'/ / 3' * *

    '04"?433'31%=4:'9"492"?433'31"62:

    C~thznanzctn

    Vngtz~ t`tl~l dhmthz3::1' Jdn}m~, Qnzhg`mc@g}t`t~`` dn t`v hoj~d}ocg g z`ln ^g`~g`` N~zhvngn ` g }tctnln l`o`tzhan ; ]vnm';

    3:'66'6: Dznvt v~jl`m "mhg}t`t~`hgcl5 hzicg`{cznc ` a~gm`hgcznc `g}t`t~``lhz dn dznvt ;C~thzna' cl t{' dn dhmt' g dznvt ( Jdn}m~ Qnzhg`mc 5 Cmcd' dn t``gn c Ohldhqn`, @g}t' dn@}thz`n, ]tct ` Dznvt' Mb' ; Mngtz~l Nd' cl ^C]O, :633' :>, U3_ v' 5 :3 mo'

    J`jl`hiz'; v' :3/:: ":9 t`t''U:633/2> Tn{n_'

    =4:"4"64=':

    3::9' Mcl~ib`g, ]nzibn`Vnzanm`hgcznc ocgcinongt~l~` cmt`q`t`` dn oczent`gi g }nmthz~l bhtnl`nz ; ]vnm'

    62'66'6> Nmhg' ` Ocgcinongt "g }nmthz~l bhtnl`nz ; C~thzna' cl t{' dn dhmt' g nmhg' (]nzibn` Mcl~ib`g 5 Cmcd' dn ]t~d`` Nmhg' d`g Ohldhqc' Mb' ; ]' g', :633 "T`vhiz' Dnv' Nd'/Vhl`iz' cl C]NO' :4, U3_ v' ; a`i', tcj' 5 :3 mo'

    J`jl`hiz'; v' :3 "1 t`t''U:633/29 Tn{n_'

    ==0'3=2;146'43"64=':

    3::2' Mb`vnz`, Iz`ihznVhn{`c jc}czcjncg dn lc }az`t~l cg`lhz )26 gmnv~t~l cg`lhz )06 c` }nmhl~l~` RR ; "h

    }mb`ojczn dn vczcd`io ; ]vnm' 36'63'63 L`t' zho' ; C~thzna' t{' dn dhmt' g a`lhlhi`n ( Iz`/

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    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    4>

    ihzn Mb`vnz` 5 Cmcd' dn t``gn c Ohldhqn`, @g}t' dn A`lhlhi`n' Mb' ; ]' g', :633 "T`vhiz' ^V]*@hg Mzncgi*' =6 v' 5 :3 mo'

    J`jl`hiz'; v' :>/:1'U:633/91 Tn{n_'

    2:3'3=>'3"492'60"64=':3::0' Mb`z`c, Qclngt`gCgcl`{c k~z`d`mh/vngcl ` mz`o`ghlhi`m c `gazcm`~g`` dn l~czn dn h}tct`m` ; ]vnm';

    3:'66'62 Dznvt vngcl "dznvt vngcl, mz`o`ghlhi`n ; C~thzna' t{' dn dhmt' g dznvt ( Mb`z`cQclngt`g 5 Cmcd' *tnacg mnl Oczn*' Mb' ; *Vz`onr/Mho* ]ZL, :633' => v' 5 :3 mo'

    J`jl`hiz'; =3 "30 t`t''U:633/20 Tn{n_'

    =4='=4"64=':

    3:=6' Mhln}g`mhqc, Tct`cgcVnzanm`hgcznc znilnongtz`` nicl`t`` dn ing g }anzc hm~vz`` ahzn` dn o~gm g Zn/

    v~jl`mc Ohldhqc ; ]vnm' 62'66'6> Nmhgho`n ` ocgcinongt "g dhong`~l hm~vz`` ahzn` dno~gm ; C~thzna' cl t{' dn dhmt' g nmhg' ( Mhln}g`mhqc Tct`cgc 5 @g}t' dn Nmhg', A`gcgn `]tct`}t`m cl Cmcd' dn t``gn` c Ohldhqn`' Mb' ; Mhovlnr~l Nd' cl @NA], :633' :2 v' ; a`i' 5:3 mo'

    J`jl`hiz'; v' :=/:4 ":1 t`t''U:633/99 Tn{n_'

    ==3'>/6>>':"492"64=':

    3:=3' @dno g lj' z~} ; ; ' 62'66'6>

    " ; ' ' ' / ' ' ; Mhovlnr~l Nd' cl@NA], :633' :2 v' ; a`i' 5 :3 mo'J`jl`hiz'; v' :=/:4 ":1 t`t''U:633/92 Tn{n_'

    ==3'>/6>>':"492"64=':

    3:=:' Mz`}tnc, @hgZ}v~gdnznc vngtz~ nqc{`~gnc a`}mcl znilnongtct dn lni`}lc`c vngcl c Zhog`n` ;

    ]vnm'; 3:'66'62 Dznvt vngcl "dznvt vngcl ; C~thzna' cl t{' dn dhmt' g dznvt ( Mz`}tnc @hg 5^g`q' L`jnz @gtnzg' d`g Ohldhqc' Mb' ; MNV ^]O, :633' :0, U3_ v' 5 :3 mo'

    J`jl`hiz'; v' :4/:1 "=4 t`t''

    U:633/21 Tn{n_' =4='=>0':"64=':

    3:==' Dco`cg, @~l`cCgcl`{c znnlnlhz }no`oczehq`ngn dn }nzq`zn g }mbnoc hvnzc``lhz dn ond`nzn ` c

    cvzhr`oc`n` d`a~{`hgcln ; 63'63'60 m`jnzgnt`m octnoct`m ` mnzmntz` hvnzc`hgcln ;C~thzna' t{' dn dhmt' g t``gn a`{`mh/octnoct`mn ( Dco`cg @~l`c 5 ^g`q' dn ]tct d`g Ohldhqc' Mb' ; ]' g', :633 "T`vhiz' *O} Lhih* ]ZL' :9 v' 5 :3 mo'

    J`jl`hiz'; v' ::/:= "3: t`t''U:633/23 Tn{n_'

    >30'29:"64=':

    3:=4' Dhg`mc, Gctcl`c

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    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    41

    C}vnmtn a`{`hlhi`mn q`{gd cvl`mcznc znond`~l~` cv`a`th}t`o~l`gc g mzntnznc vhzm`gnlhz ;6='66'3= A`{`hlhi`c ho~l~` ` cg`oclnlhz ; C~thzna' t{' dn dhmt' g j`hlhi`n ( Dhg`mc Gctcl`c 5^g`q' dn ]tct d`g Ohldhqc' Mb' ; Mngtz~l Nd' cl ^C]O, :633' :1, U3_ v' 5 :3 mo'

    J`jl`hiz'; v' :3/:= "=: t`t''

    U:633/90 Tn{n_' 13:'33('3:'639;1=1'4 "64=':

    3:=>' D~zgnc, Cl`hgcNanmt~l gnazhvzhtnmthz cl ond`mc`n` m~ czc`` qnz}~} `nmc`` ` `ovcmt~l c}~vzc nlc}t`m`t``

    cztnz`cln g b`vnztng}`~gnc cztnz`cl n}ng`cl ; 34'66'61 Mczd`hlhi`n ` zn~octhlhi`n "mczd`h/lhi`n ; C~thzna' t{' dn dhmt' g ond`m`g ( D~zgnc Cl`hgc 5 @O]V @g}t' dn Mczd`hlhi`n' Mb' ;Mngtz~l Nd' c ^C]O, :633' :>, U3_ v' ; a`i', tcj' 5 :3 mo'

    J`jl`hiz'; v' :3/:: ":1 t`t''U:633/06 Tn{n_'

    131'3:/662'==3'3%13>':"64=':

    3:=1' Ibnzgckc, Intc/Mz`}t`gcZn}vhg}cj`l`tctnc ` z}v~gdnznc k~dnmthz`lhz g nrnzm`tcznc k~}t``n` ; ]vnm' 3:'66'63

    Tnhz`c ingnzcl c dznvt~l~`5 @}thz`c }tct~l~` ` dznvt~l~`5 @}thz`c dhmtz`gnlhz vhl`t`mn ` dn dznvt; C~thzna' t{' dn dhmt' g dznvt ( Ibnzgckc Intc/Mz`}t`gc 5 Cmcd' dn t``gn c Ohldhqn`, @g}t' dn@}thz`n, ]tct ` Dznvt' Mb' ; *Mcqcllp Mhv`nz}* ]ZL, :633' =1, U3_ v' 5 :3 mo'

    J`jl`hiz'; v' =3/== ":: t`t''U:633/22 Tn{n_'

    =49'01:;=46'3"64=':

    3:=9' Ib``~, L`l`cOcgcinongt~l v`nn` v~jl`m`tczn g mhgd```ln cdnzz`` Znv~jl`m`` Ohldhqc lc ^g`~gnc N~/zhvncg ; ]vnm'; 62'66'6> Nmhg' ` ocgcinongt "g dhong`~l }nzq`m``lhz v~jl`m`tczn ;

    C~thzna' cl t{' dn dhmt' g nmhg' ( Ib``~ L`l`c 5 Cmcd' dn t``gn c Ohldhqn`, @g}t' dn Nmhg',A`gcgn ` ]tct`}t`m' Mb' ; Mhovlnr~l Nd' @NA], :633' :2 v' ; a`i', tcj' 5 :3 mo'

    J`jl`hiz'; v' :=/:4 "3> t`t''U:633/24 Tn{n_'

    1>0"492;66>"64=':

    3:=2' @cmb`ohqc, Tct`cgcC}vnmtn a`{`hlhi`mn c ~t`l`{z`` vznvczct~l~` cv`dnzo`g lc tzctcznc cg`oclnlhz m~ ln{`~g`

    mhzvhzcln ; 6='66'3= A`{`hlhi`c ho~l~` ` cg`oclnlhz ; C~thzna' t{' dn dhmt' g j`hlhi`n (

    @cmb`ohqc Tct`cgc 5 ^g`q' dn ]tct d`g Ohldhqc' Mb' ; Mngtz~l Nd' cl ^C]O, :633' :1, U3_ v'5 :3 mo'J`jl`hiz'; v' ::/:= ":2 t`t''U:633/26 Tn{n_'

    U13:%131/663_;1=1"64=':

    3:=0' H}octn}m~, Cginlc[hgnln nmhgho`mn l`jnzn ` zhl~l lhz g vzhmn}~l dn `gtnizczn c nmhgho``lhz gc`hgcln g

    }`}tno~l znlc``lhz nmhgho`mn `gtnzgc`hgcln ; ]vnm'; 62'66'34 Nmhg' ohgd`cl5 znlc`` nmhg'`gtnzg' ; C~thzna' cl t{' dn dhmt' g nmhg' ( Cginlc H}octn}m~ 5 Cmcd' dn ]t~d`` Nmhg' d`g Ohl/dhqc' Mb' ; ]' g', :633 "T`vhiz' *Vznvzn}}*' :9, U3_ v' ; a`i', tcj' 5 :3 mo'

    J`jl`hiz'; v' :=/:4 "3= t`t''U:633/2: Tn{n_'

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    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    49

    ==0'0:"64=':

    3:46' ]zj~, L`l`cgL~o`gn}mngc ` no`}`c ~gdnlhz TB{ cln octnz`clnlhz gcgh}tz~mt~zctn g jc{c mhov~`/

    lhz }no`mhgd~mthz` =/> ; 63'64'36 A`{`mc ` `gi`gnz`c }no`mhgd~mthz`lhz ; C~thzna' t{' dn dhmt'

    g t' a`{`mh/octnoct`mn ( ]zj~ L`l`cg 5 ^g`q' dn ]tct d`g Ohldhqc' Mb' ; *Thtnr/L~r* ]ZL,:633' =4 v' ; a`i', tcj' 5 :3 mo'

    J`jl`hiz'; v' :9/=6 "=0 t`t''U:633/2= Tn{n_'

    1:3'=3>'>0:"64=':

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    Mzhg`mc mz`` Gz 9/:633 Jhhe cggcl} Gz 9/:633

    42

    @gdnr dn g~on lc *Mzhg`mc mz``* Gz 9/:633

    C

    Cacgc}, Tct`cgc 3303Clj~, @hg 33=3Cgdzhg`m, Icjz`nl 3:36/33Cgdz~b`gc, Ocz`gc 3339, 3:69Cvntz``, Gctcl`c 361:Czoc~, Q`tcl`n 336=

    J

    Jcm`g}mb`, O`bc` 3:69Jck~zncg, @z`gc 3334Jclcg, Cl`hgc 33>9Jclo~, G`mhlcn 33=3

    Jdn}m~, Qnzhg`mc 3::1J`n~, C~znl 3602Jnl`, L`q`~ 3:64Jnl`, Hlic 3::=Jnlnci, Qlcd`o`z "3:39J`lnmb`, G`mhlcn 3:39Jhcib``, @hg 33>6Jhjg, Dzcih 330:Jhjg, L`d`c 330:Jh`cg, @l`n 33==Jhlnc, Qlcd`o`z 3:62

    Jhzd`cg, ]qntlcgc 33>4Jhz{`cm, Qclnz`c 330=Jhtgczm`~m, Qc}`ln 3693/9:Jhtgcz`~m, G`mhlcn 33=1Jhcg, ]tnlc 3614Jz~o, @gc 360:J~d`cg}mb`, D~o`tz~ 3603J~khz, Mhzgnl`c 3306J~licm, Ocz`c 3341J~liz, Ibnhzibn 339:/9=J~gd~mb`, @hg 3696J~z`cg, Clnrcgdz~ 3600J~z`cg, Mz`}t`gc 3600J~zlcm~, Clnrcgdz~ 3390, 3:39J~zlcm~, ]qntlcgc 3611J~{`l, Qclngt`gc 3316

    M

    Mclczc, @ihz 330=Mcllh, Tct`cgc 3611Mcl~ib`g, ]nzibn` 3::9Mcgd~, Cginlc 3309Mczcjnt, Gctcl`c 3331Mczgcnqc, Ocz`c 3322

    Mczv, L`l`c 3313Mc{cm~, Tcoczc 3394/91Ml~iz`c, Cginl`mc 33:0

    Mnjhtcz`, Qclngt`gc 336>Mnmcg, Nmctnz`gc 3349Mnohztcg, ]tnlc 33:4Mbn`cg~/Cgdzn`, D`cgc 3622Mbnvtngn, Qclngt`gc 3310Mb`vnz`, Iz`ihzn 3::2Mb`z`c, Qclngt`g 3::0Mb`thzhci, Qclngt`gc 3611M`jhtcz`m, @hg 3626M`jhtcz~, Cdz`cg 3369M`ovh`, O`bc` 3:39

    M`hjcg~, @ihz C' 3363M`hjcg~, Qclnz`cg 331>M`hmcg~, Cg' 3302M`~jhtcz~, Cdz`cg 362=M`~jhtcz~, Clnrcgdz~ 33=1M`~gt~, Gctcl`c 3319Mhj{cm, Q`mthz 3301Mhj{cm/Ocz`gn}m~, Hrcgc 3301Mhj{cz`, L~do`lc 360:Mhkhmcz`, L`d`c 33=4/=>Mhln}g`m, @~z`n 3:64Mhln}g`mhqc, Tct`cgc 3:=6/=3

    Mhl~g, Ibnhzibn 3304/0>Mhongdcgt, Mhzgnl`~ 330:Mhv`l~/Mhv`ll`g, D~o`tz~ 3330Mhzj~, Bczlcoj`n 3612Mhzm`ocz, Gcdnkdc 3623Mhzibngm`, L~do`lc 3610Mhzltncg~, ]`lq`c 369=Mhzhjhq, Zhocg 33:1Mh}o`g, Hq`d`~ 33=4/=>Mh}tc, @l`n 3613Mh{cz`, T~dhz 33=4/=>, 33=2

    Mh{oc, O`bc` 33::Mh{hgcm, Zngctc 4Mzcm`~g, Clnrcgdz~ 33:9Mz`ml`qc`c, D`cgc 360:Mz`}tnc, @hg 3:=:M~m~`nt~, @~z`n 33>=M~l`~m, Nlngc 3603M~tc}nq`m`, Ibnhzibn 3:60M~{gnhq ]nmz`nz`, Lcz`}c "3611M~{~`hm, @hg 3346

    D

    Dco`cg, @~l`c 3:==

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    J`jl`hizca`c Gc`hgcl c Ohldhqn` Gct`hgcl J`jl`hizcvbp ha Ohldhqc

    40