QUESTION 4 (20 MARKS)

(a) Syarikat Zurina Sdn Bhd (SZSB) has completed a new factory and has applied for electricity from TNB Berhad. In lieu of cash deposit, TNB has requested SZSB for an Islamic bank guarantee for an equal amount. As the banker for SZSB, explain the structure and flow of a Kafalah Islamic Bank Guarantee to Yati, the Chief Financial Officer of SZSB. (10 marks) (

gb) Describe any FIVE (5) factors which are the drivers for the development and growth of Sukuk in the Islamic capital markets. (10 marks)