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In the light of the topics studied in this course (Islamic Finance), use any of the financial contracts to develop a mechanism to fulfill three or your financial needs to buy a car that you don’t have the full payment to afford it now. Start with identifying the need and explain how it is normally financed by the conventional system, and then explain the shariah issues related to that. Finally, show how your choice can serve as an alternative.
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In writing your assignment you are expected to consider (but not limited to) the following:
1- Islamic Law of Financial contracts as bases for just financial system.
2- Riba, gharar and mysir as forms of injustice.
3- Islamic contractual relations are bases for justice and avoidance of exploitation.
