Question: (please answer only when you are confident that the answer is correct) Question 2 (a) Briefly explain the following Islamic finance contract. (i) Ijarah (3

(please answer only when you are confident that the answer is correct)

Question 2 (a) Briefly explain the following Islamic finance contract. (i) Ijarah (3 marks) (ii) Bai Bithaman Ajil (3 marks) (iii) Murabahah (3 marks) (b) Discuss TWO (2) characteristic of a well-run financial market with examples. (7 marks) (c) Non-Bank Financial Institutions (NBFIs) play important roles in both conventional and Islamic financial system. Explain any THREE (3) roles of NBFIs in a conducive financial system. (9 marks) (Total: 25 marks)

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