An application was presented by a client to Meezan Bank seeking consent for the purchase of the laptops. In his request, he stated that the laptops have been bought from Hewlett Packard. He enclosed along with his request an invoice relevant to those goods, indicating that he was indebted to that (client) and he requested the bank to pay value of such laptops. The above mentioned client has demanded the bank settle the attached invoice amount and that he has undertaken to pay an amount exceeding the invoice amount. He has also undertaken to pay 20% of the buying price and he requested that the balance price amount to be paid in installments spread over 6 months. a) Is this transaction permissible? Please support your answer with arguments b) Suggest a solution for the above

An application was presented by a client to Meezan Bank seeking consent for the purchase of the laptops. In his request, he stated that the laptops have been bought from Hewlett Packard. He enclosed along with his request an invoice relevant to those goods, indicating that he was indebted to that (client) and he requested the bank to pay value of such laptops. The above mentioned client has demanded the bank settle the attached invoice amount and that he has undertaken to pay an amount exceeding the invoice amount. He has also undertaken to pay 20% of the buying price and he requested that the balance price amount to be paid in installments spread over 6 months. a) Is this transaction permissible? Please support your answer with arguments b) Suggest a solution for the above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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