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22. Islamic banks also provide automobile financing facilities similar to the conventional hire purchase. The following information is an example of car financing provided by

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22. Islamic banks also provide automobile financing facilities similar to the conventional hire purchase. The following information is an example of car financing provided by Kuwait Islamic Bank, Concept Al-Ijarah Thumma Al-Bai Tenure 9 years Bank's profit rate 3.3% per annum Amount to be financed RM150.000 Calculate the monthly payments due to Kuwait Islamic Bank. A) RM4,550.00 B) RM1,388.90 C) RM1,945.00 D) RM1,801.40

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