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BANK 330 Essentials of Islamic Banking (15 marks) GH 3 Due date: April 5, 2023 Short Questions Answer the following questions: 1. Explain the shari'ah

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BANK 330 Essentials of Islamic Banking (15 marks) GH 3 Due date: April 5, 2023 Short Questions Answer the following questions: 1. Explain the shari'ah requirements on the policy of charging penalty fee for default in repayment by customers? Explain with examples. (3 Marks) 2. Explain the differences between Operating Ijarah and Financing Ijarah . Explain with examples? (4 Marks) 3. Can you explain what is Bai' Al-salam and then give one example? (4 Marks) 4. How is Istisna operation conducted in Islamic banks today? Explain with examples. (4 Marks)

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