Islamic finance

Question 1 (1 Mark) Oasis LLC wants to change machines. On January 2018, Oasis makes an Ijarah Muntahia Bittamleek contract with Sohar Islamic Bank (SIB) for 12 years. SIB purchases ten (10) machines. Cost of each machine is 11000 OMR and maintenance expenses for each machine is 300 OMR per year. Oasis LLC will pay rental of 150 OMR per machine each month. At the end of contract, SIB agrees to sell each machine at 600 OMR at the end of contract period. Calculate profit/loss of SIB for this contract. If Bank gives the machines as "Gift at the end of contract, what will be the change in profit compared to first case? Question 2 (1 Mark) Yousif is going to buy a new computer system for his factory. Cost of system is 360,000 OMR. He reaches to Muscat Islamic Bank (MIB) to find required money for the system. They make a Murabaha" contract. Profit rate for contract is 8% per year and contract is for 10 years. Yousif will make payments monthly. What is contract price? What is profit of bank? Calculate monthly payments. Calculate yearly payments