Question: Question 1 A packet of PKR 10/- notes bundle having 100 notes is exchanged for PKR 1,100/- on spot. Under which category of Riba does

Question 1 A packet of PKR 10/- notes bundle having 100 notes is exchanged for PKR 1,100/- on spot. Under which category of Riba does this transaction fall? Justify your answer.

Question no 2 Fayyaz and Omair enter into barter transaction exchanging wheat and dates. It is mutually decided that Fayyaz would provide 10 kg of wheat (specified quality) to Omair today and will receive 5 kg of dates (specified quality) in a week's time. Is this a valid transaction? Why?

Question no 3 How is using KIBOR in determining rental under Ijarah in Islamic Banks justified from shariah point of view despite the fact that KIBOR is the rate used for interest-based financing?

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