 In this module, once again, we try to recap what we have studied so far explicitly or we have given reference to. The objective is to assess the efficacy and efficiency of the learning process. It has huge importance for you because you would be able to assess whether you have able to achieve some or all of the learning objectives of this course so far. It has implications for me as a lecturer as well because this would give me feedback to improve the quality of presentation as well as the contents in the future module. We conduct this recap by way of asking a question, so this is a quiz, a question or a statement having four options, only one of the options would give us the right answer. Question for this recap is, Lotteries are A, strictly prohibited, B, accepted only for Hajj and Umrah, C, accepted if structured in a Sharia compliant way, D, lotteries and prize bonds are one and the same thing, so we have A, B, C, D write down your answer and see whether you have been correct in your choice. If you have been correct, congratulations, you are a good learner. If you have been wrong, doesn't matter. In the course of this course, we would be able to improve our learning so that by the end of this course, we would have sufficient knowledge of Islamic banking and finance, particularly Islamic modes of finance. So I have to pick up an answer randomly, I was thinking of going for A because it seems like the right answer, lotteries are strictly prohibited. I don't think B, this is my hunch, B is the right answer, so I probably pick up this time C to see whether this is correct. It is actually correct. Lotteries could be acceptable in Sharia if they are structured in a Sharia compliant way. Of course gambling is strictly prohibited, but lotteries if they do not involve gambling that are acceptable from Sharia viewpoint. There are quite a few products already being offered in Islamic financial services markets which have prices, which have elements of lotteries. Probably the best example of something which is quite similar to a lottery is Sukuk National Bonds or Sukuk Wataniya in Dubai. This is an investment product which offers prices. The bumper price is 1 million UAE theorems and this is done every month. However, whatever money you contribute that is deemed as an investment and you get return on your investment and the value of your investment whenever you would like to redeem it. Quite a number of Islamic banks also offer prices and we would later on look at the treatment of offering of prices by Islamic banks as well. So, A is wrong as I said gambling is strictly prohibited not lottery. Lotteries could be Sharia compliant. In fact, there was a controversy created in Abu Dhabi in the UAE when a few months back actually last year an Islamic lottery was launched. It was called Amrit's Lotu and some people thought oh my God how can a lottery be Islamic or Sharia compliant but when people started looking into it they found that there was a possibility of having an Islamic lottery. However, in general the lotteries like National Lottery in UK and elsewhere the way they are structured of course they are not in compliance with Sharia they are Haram but there is a possibility of coming up with a structure that would give rise to the economic profile of a lottery and that would be Sharia compliant. B is also wrong because something which is Haram for general activities how can that be Alal for Ibadat for Aj and Umrah that is obscene D is also wrong because lotteries and price bonds they are not exactly the same thing or they are not the same thing. In case of lottery which is an example of gambling the conventional lottery if I do not win I lose my money one pound which I have used to buy National Lottery in UK I would lose it. In case of price bonds however my principal sum remains intact whether I lose or win. However price bonds in Pakistan they were not in compliance with Sharia because they invested money in non Sharia activities. By the way price bonds in Pakistan have already been withdrawn. You cannot buy price bonds in Pakistan anymore.