Islamic banking finance
Amna - your class fellow, wants to purchase his own home by
taking a loan from any bank, you suggested he go for Islamic Bank
since the conventional bank involves Riba which is not allowed. Al
Baraka Bank proposed to him the mode of finance with the following
details.
Cost of House - 600,000
The policy rate in the market is 15%
Financing time - 5 years
(a) Which mode will the Islamic Bank propose
for house financing?
(b) Write down the Sharia principles of said
mode.
(c) Write down the steps involved in the
execution of that mode for house financing along with
calculations.
Islamic banking finance Amna - your class fellow, wants to purchase his own home by taking a loan from any bank, you sug
-
- Site Admin
- Posts: 899603
- Joined: Mon Aug 02, 2021 8:13 am