Path: P QUESTION 2 Shagga LLC is a leading aluminum products dealer. They are one of the biggest clients of Zeus Islamic Bank and are availing many banking facilities from them. Recently Shagga has been incurred some losses and therefore are going through difficult financial times. Shagga has an outstanding five-year Murabaha contract with Zous Islamic bank. Shagga has already paid the first four installments but is unable to pay the fifth installment on time. The relationship manager of Zeus Islamic bank has been advised by one of his team members that Shagga is willfully delaying the payment. Therefore, Zeus Islamic Bank should impose a 2.5% penalty on outstanding amount to Shagga enterprises. However, the relation manager of Zeus Islamic bank is not sure whether he can impose this penalty within the framework of shariah compliant banking. Do you think that Zeus Islamic bank can impose penalty for a willful default by the customer? Please elaborate your answer and explain all the alternatives that an islamic bank can use to avoid such defaults. TTTT Paragraph Arial 3 (12pt) JE - T T' T. . = FS Path: P QUESTION 2 Shagga LLC is a leading aluminum products dealer. They are one of the biggest clients of Zeus Islamic Bank and are availing many banking facilities from them. Recently Shagga has been incurred some losses and therefore are going through difficult financial times. Shagga has an outstanding five-year Murabaha contract with Zous Islamic bank. Shagga has already paid the first four installments but is unable to pay the fifth installment on time. The relationship manager of Zeus Islamic bank has been advised by one of his team members that Shagga is willfully delaying the payment. Therefore, Zeus Islamic Bank should impose a 2.5% penalty on outstanding amount to Shagga enterprises. However, the relation manager of Zeus Islamic bank is not sure whether he can impose this penalty within the framework of shariah compliant banking. Do you think that Zeus Islamic bank can impose penalty for a willful default by the customer? Please elaborate your answer and explain all the alternatives that an islamic bank can use to avoid such defaults. TTTT Paragraph Arial 3 (12pt) JE - T T' T. . = FS