Answer to Question #159756 in Economics for shuja ul haq

Question

If you go to an Islamic bank and ask for financing for following purposes, which financial product Islamic bank will most likely to use and why?

 

1.      10 years financing to start a new project

2.     5 years financing to construct a house on your land

3.     3 years financing for a heavy duty generator

4.     6 months financing for IPhone 12

Answer 1

10 years of project financing, as this is an investment project that will bring profit in the future.