The article below is extracted from an article titled What is currency crisis, by Brent Radcliff, updated October 7, 2019.

Asian Crisis of 1997

Southeast Asia was home to the tiger economies including Singapore, Malaysia, China, and South Korea, and the Southeast Asian crisis. Foreign investments poured in for years. Underdeveloped economies were experiencing rapid rates of growth and high levels of exports. The rapid growth was attributed to capital investment projects, but the overall productivity did not meet expectations. While the exact cause of the crisis is disputed, Thailand was the first to run into trouble.

Much like Mexico, Thailand relied heavily on foreign debt, causing it to teeter on the brink of illiquidity. Real estate dominated investment but was inefficiently managed. Huge current account deficits were maintained by the private sector, which increasingly relied on foreign investment to stay afloat. This exposed the country to a significant amount of foreign exchange risk."

Based on the above article you are required to answer the following questions.

1. Discuss THREE (3) exposure due to the crisis. (6 Marks)

2. Discuss TWO (2) reasons why money is not a commodity that can be traded to gain profit from the Islamic view. (6 Marks)
3. Explain why Islam prohibits monetary debt but accepts the time value of money concept.

(6 Marks)