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3. Haseeb & Co is the sole distributor of Haleeb Products for different areas of Lahore. Haseeb & Co purchases different products on 45 days
3. Haseeb & Co is the sole distributor of Haleeb Products for different areas of Lahore. Haseeb & Co purchases different products on 45 days credit directly from Haleeb. The minimum inventory holding period is 10 days and the Customer uses FIFO inventory system. The client has approached Islamic bank for 120 days Murabaha Facility amounting to Rs. 5 million for purchase of Haleeb products at Profit rate of 10% p.a. 1) Suggest the proposed process flow for the said transaction. 2) If goods are directly delivered to the customers through Haleeb's vehicle, can murabaha be offered in this case? (6 Points) 3. Haseeb & Co is the sole distributor of Haleeb Products for different areas of Lahore. Haseeb & Co purchases different products on 45 days credit directly from Haleeb. The minimum inventory holding period is 10 days and the Customer uses FIFO inventory system. The client has approached Islamic bank for 120 days Murabaha Facility amounting to Rs. 5 million for purchase of Haleeb products at Profit rate of 10% p.a. 1) Suggest the proposed process flow for the said transaction. 2) If goods are directly delivered to the customers through Haleeb's vehicle, can murabaha be offered in this case? (6 Points)
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