Question: PART 3: CALCULATION QUESTIONS (10 marks) Direction: Answer the following question by using the required calculation and facts.(10 Marks) 1. Abdulla wants to manufacture specialized

PART 3: CALCULATION QUESTIONS (10 marks) Direction: Answer the following question by using the required calculation and facts.(10 Marks) 1. Abdulla wants to manufacture specialized coffee machines for his Coffees of the World shop in Abu Dhabi. He contacted the Shariah Bank and requested the bank to finance his acquisition of these customized machines. Abdulla provided the bank with the specifications , quantity and other details of the machines to be manufactured . The bank contracted the Middle East Machine Suppliers to manufacture the machines with the exact details as provided by Abdulla. The bank signed the purchase agreement with Middle East Machine for payment during manufacture in instalments and the bank also signed agreement with Abdulla for instalment payments after delivery. A. What type of Islamic banking contract is this describe (5 Marks) B. Explain if this is an asset- based or equity based Islamic banking Contract. (5 Marks)

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