Question no 2 (10marks) e) Abdul Basit purchases a specified cell phone from Bilal for PKR 15,000/- by signing a Murabaha Agreement. Bilal delivers the mobile phone today while Abdul Basit agrees to pay the price after one and a half years. Is this a valid Murabaha? Explain your answer f) XYZ Ltd is a licensed distributor of Dawlance products and wishes to obtain Istisna financing from an Islamic Bank to fulfill its working capital requirements. Will the transaction be valid? In case yes then what will be the subject matter (asset to be provided) under Istisna? In case of no, which product will be applicable. Justify your answer g) ABC Textile purchases cotton of PKR 1,000,000/- from Faysal Islamic through Murabaha by signing Master Murabaha & Agency Agreements. ABC Textile submits the request and Faysal Islamic provides funds directly to the supplier. After receiving the cotton from supplier, ABC informs Faysal Islamic, which then conducts physical inspection. Thereafter, offer - acceptance is signed between ABC Textile and Faysal Islamic at PKR 1,200,000/- with payment deferred for 6 months to conclude the Murabaha. Is the transaction valid? Explain your answer. Answer: Question no 2 (10marks) e) Abdul Basit purchases a specified cell phone from Bilal for PKR 15,000/- by signing a Murabaha Agreement. Bilal delivers the mobile phone today while Abdul Basit agrees to pay the price after one and a half years. Is this a valid Murabaha? Explain your answer f) XYZ Ltd is a licensed distributor of Dawlance products and wishes to obtain Istisna financing from an Islamic Bank to fulfill its working capital requirements. Will the transaction be valid? In case yes then what will be the subject matter (asset to be provided) under Istisna? In case of no, which product will be applicable. Justify your answer g) ABC Textile purchases cotton of PKR 1,000,000/- from Faysal Islamic through Murabaha by signing Master Murabaha & Agency Agreements. ABC Textile submits the request and Faysal Islamic provides funds directly to the supplier. After receiving the cotton from supplier, ABC informs Faysal Islamic, which then conducts physical inspection. Thereafter, offer - acceptance is signed between ABC Textile and Faysal Islamic at PKR 1,200,000/- with payment deferred for 6 months to conclude the Murabaha. Is the transaction valid? Explain your