1. Explain the strategy needed for growth and competition in Islamic finance (2 marks)

2. Bahrain Islamic Bank provides a financing facility based on the principles Murabaha to Royal Company. To purchase a specialized equipment to be used for their business project. The financing amounted to 300,000 BD at a constant rate of return is 5% for a period 8 years.

Required: Calculate the profit to be earned per year and total murabaha per year

(3 marks)