Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. What are the differences between salam and istisna' contract? 2. Ali owns a land and he wants to construct a five storey building in

image text in transcribed

1. What are the differences between salam and istisna' contract? 2. Ali owns a land and he wants to construct a five storey building in the land. Ali approaches ABC Islamic Bank. What is the most suitable Islamic finance contract that could be used to fulfil Ali's need and explain the procedures involved in such a transaction. 3. Ahmed wanted to grow agricultural goods. However due to the financial constraints he faced, he approached XYZ Islamic Bank and request to finance the production of the agricultural goods. Without specifying the type of the commodity that will be grown and the quantity of it, XYZ Islamic Bank bought all the agricultural goods which Ahmed will grow for RM: 100,000, Examine the validity of this transaction

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Handbook For Investment Committee Members

Authors: Russell L. Olson

1st Edition

0471719781, 978-0471719786

More Books

Students also viewed these Finance questions

Question

How do speaking skills affect promotions and career success?

Answered: 1 week ago