Question
Classify the following contracts as imperfect, invalid, or valid. 1. Rajoo Islamic bank provides interests to its depositors. 2. An Islamic bank provides financing to
- Classify the following contracts as imperfect, invalid, or valid.
1. Rajoo Islamic bank provides interests to its depositors.
2. An Islamic bank provides financing to build a Masjid
3. An Islamic bank in country X enters into an istisna contract to finance the building of a prostitution centre. Prostitution is legal in the country.
4. Ali signs up for a family takaful policy (similar to life insurance).
5. An Islamic bank provides murabaha financing for a car already owned by Ahmad.
6. Kathija is forced to sell her car for $10000 (less than the market value) to Kevin by Nathan who is a paraplegic on a wheel chair.
7. An underaged boy enters into a loan agreement with his friend.
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