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In Islam, the receipt of interest is strictly forbidden which underlies for all economic activities. Therefore, Islam provides several interest-free modes of finance that can

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In Islam, the receipt of interest is strictly forbidden which underlies for all economic activities. Therefore, Islam provides several interest-free modes of finance that can be used for different purposes. Discuss and justify what the modes of financing can be used for the following conditions: (6 marks) a. Trade and industry finance b. Financing with deficit of budget c. Acquiring foreign loans

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