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You are interested in executing a Murabaha contract to meet your business needs. The financing amount is AED. 38 million. The bank accepted your offer
You are interested in executing a Murabaha contract to meet your business needs. The financing amount is AED. 38 million. The bank accepted your offer of a profit rate of 6% per annum. The tenor of the contract is one year. The entire Murabaha price will be paid in 10 equal installments? What will be the value of each installment? Please elaborate on the steps that you followed to get the price of the Murabaha contract in the above question. Would a change in the number of installment effect the total payment of murabha? Would a change in number of installment effect the total payment in the case of a conventional loan. Please elaborate
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