The answers do not need to be long; couple of paragraph will be sufficient, if the content is right. Avoid listing in bulleted points, unless necessary. You should write in sentence/paragraph form.

Q1. 2007-8 crisis occurred in the Western world, originating from USA. Why was the Islamic finance industry impacted by the crisis? [2 marks]

Q2. What specific ways, and to what extent Islamic finance industry was affected? [4 marks]

Q3: It has been argued that Islamic finance industry is resilient during financial crisis. From your research on this topic, how valid do you think is this argument or claim? [4 marks]

Q4: What specific steps Islamic banks took to overcome the crisis? [4 marks]

Q5. What specific lessons the industry has learnt to better position itself in a future crisis? [4 marks]