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Mohammed needs money to buy a Villa. The cost of building the Villa is BHD 70,000. His wife, Mariam, has savings up lo BHD 20,000
Mohammed needs money to buy a Villa. The cost of building the Villa is BHD 70,000. His wife, Mariam, has savings up lo BHD 20,000 and needs additional financing from the bank, One of Mohamed's Islamic contracts is to sign Murabaha contract the bank sets the profit margin rate per annum, 8%. and the financing period = 15 years. Then, determine the:
a) selling price
b) the instalment amount
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