Subject: Islamic Banking Practices

Based on the table above, answer the following questions:

Question: Compare and contrast the Credit Card facility and Buy Now Pay Later (BNPL) offered by fintech companies, in terms of concept, structure and application. (10 marks)

The following table represents the financing portfolio of an Islamic bank in Malaysia for 2020: Financing, advances and other financing/loans 31 December 2020 At amortised cost: Sale-based contracts - The Group and the Bank Lease-based contracts Loan contract Others Murabahah RM4000 Bai' Bithaman Ajil RM"000 Bai' al-'inah ' RM1000 Bai' al-Dayn RM1000 Tawarruq RM1000 Ijarah Muntahiah Bi al-Tamlik RM1000 Al-Ijarah Thumma Al-Bai# RM1000 Qard RM1000 Ujrah Total RM1000 RM1000 . 268 842 1,036,198 8.907 1,046,215 4,937,835 * 21.574,218 2,082,395 1,227,897 39,111 11,380.856 1,168,761 5,004,003 31,036,109 44,811 Cash line Term financing House Financing Syndicated Financing Hire purchase receivables Other term financing Bills receivable Islamic trust receipts Claims on customers under acceptance credits Staff financing" Credit card receivables Revolving credits Gross financing advances and other financing loans, at amortised cost 31,043 334,959 96,492 691,902 27,739,950 2.121.506 11.380,856 37,253,684 366,002 96,492 776,813 171,716 134,389 4.603.440 84,911 171,716 134389 4,603,440 1.123.353 6,106.864 5,043,956 115,954 60,504,076 1.272,708 11,380.856 8.907 134389 85.691,063 Fair value changes arising from fair value hedge Less: Expected credit losses Net financing, advances and other financing loans, at amortised cost 3.835 85,694,898 (975.403) 84.719,495 Source: CIMB Islamic Bank, Annual Report 2020