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Zuthimalin plans to lease a car from Algerian Islamic Bank using the Ijara wa Iqtina contract. The price of the car is (Algerian dinar) DZD20,000.

  1. Zuthimalin plans to lease a car from Algerian Islamic Bank using the Ijara wa Iqtina contract. The price of the car is (Algerian dinar) DZD20,000. The lease period is 5 years, during which 50% of the value of the asset will be used up. The bank wants a profit rate of 6% in the lease contract. What is the TLR?
    1. DZD6,000
    2. DZD20,000
    3. DZD26,000
    4. DZD16,000

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