Explain tasya for the purpose of home financing

Reference no: EM133270001

Assignment:

ISLAMIC FINANCE

QUESTION

Tasya wants to buy one apartment at Damansara, and it will cost her RM 450,000. Tasya has already submitted documents to Al Rajha Bank, and it is already approved for home financing. Tasya needs to deposit 10% out of the house price and the bank will finance the remaining 90%. Tasya agreed that ownership of the house would increase based on the monthly payments paid to the bank. Tasya will pay RM 2,500 per month for a monthly payment starting from October 2022 until October 2052.

Based on the situation;

a. Identify and explain the underlying principle that can be utilized by Tasya for the purpose of home financing.

b. Based on answer in (a), illustrate the modes of operandi for that principle.

c. Elaborate the tenets of the principle carried out by both parties.

Reference no: EM133270001

Questions Cloud

What is gross national income : What is Gross National Income (GNI) and what are its shortcomings as an indicator of economic development and social well-being?

How changes to us trade-tariff policies affected us trade : Analyze how changes to U.S. trade and tariff policies affected U.S. trade with other nations.

Examples of an unethical business practice : If this is from personal experience or something you encountered at a place of your previous or currently employment, describe it in detail.

What size primes would be required to match : What size primes would be required to match the security of DES? What size primes would be required to match the security of AES-128?

Explain tasya for the purpose of home financing : Identify and explain the underlying principle that can be utilized by Tasya for the purpose of home financing.

Take the csx knowledge check quizzes : Take the CSX Knowledge Check quizzes at the end of chapters/sections 1-6 before reading any material from the book. Note your answers for all 39 questions (5 pe

Analyze the ethicality of malware attacks : Analyze the ethicality of malware attacks using the three ethics models (Kant/Mill/Aristotle) and compare the results.

Watch video about common misconceptions with minimam wage : Discusses price floors, and a price floor we all can relate to is minimum wage. Watch the video below about common misconceptions with minimam wage.

Make a c program that continuously accepts a string input : Make a C program that continuously accepts a string input that contains a '+' or a '-' using a do-while loop.

User Account

All Pages