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2. (a) An Islamic interbank instrument with 90 days to maturity and RM 500,000 face value is being offered to Mr. Ali. Required: () Assuming

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2. (a) An Islamic interbank instrument with 90 days to maturity and RM 500,000 face value is being offered to Mr. Ali. Required: () Assuming Mr. Ali required retum is 6%, what price Mr. Ali would be willing to pay for the instrument. (10 marks) If the above instrument is being sold at RM 490,000, what is the implied yield? (10 marks) (b) What are the laws of Islamic Finance? Discuss. (10 marks)

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