Instruments of Islamic finance are not referred to as loans' but rather as financing modes falling under
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Question:
Instruments of Islamic finance are not referred to as "loans' but rather as financing modes falling under one of the three categories: Profit-and-loss sharing (PLS), non-PLS contracts, and fee-based products.Read the article provided and answer the following questionsProvide the description of the following keyinstruments.
-Islamic Financial Instrument
Description
-Murbaah
(Mark-up financing)
-Ijrah
(Lease, lease purchase)
-Salem
(Prepayment, deferred delivery)
-Sukuk (Islamic bond)
-Mudrabah
(Trustee finance contract)
-Musharakah
(Equity participation)
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