QUESTIONS

QUESTION ONE

Discuss FIVE (5) products in Islamic banking. Support your answer with ONE (1) decided Court case. (20 marks)

QUESTION TWO

Solve the following problems:

1. Pawi has agreed to pay Faizal for a commercial transaction. He drew a cheque amounting RM3,000.00 in favour of Faizal who submitted it to Bank Teguh shortly before 4.00pm on that day. The banks normal closing time was 4.00 pm and Bank Teguh paid the cheque five minutes later. The next morning, Pawi gave a call to Bank Teguh at the beginning of operating hour to stop payment of the cheque but Bank Teguh had already paid the cheque by debiting his account amounting RM3,000.00. Pawi wanted to take legal action against Bank Teguh because the payment was made after the bank closing time.

Advise Pawi. Support your answer with ONE (1) statutory provision and ONE (1) decided case. (10 marks)

2. Tasha drew a cheque in favour of Atiq, one of her customers. Tasha crossing the cheque with Account Payee Only and posted it to Atiq. Unfortunately, the cheque was stolen, and the thief forged all the particulars in that cheque, used it to open an account with Bank Utama. The following day, the thief drew out all the proceeds in cash and has absconded. Tasha wanted to sue Bank Utama for the negligence of not taking proper precautions in the opening of the account.

Advise Tasha. Support your answer with ONE (1) statutory provision and ONE (1) decided case. (10 marks)

THIS SUBJECT IS BANKING LAW