 We have a time for a recap again remember we have been going through some of the materials we have already covered in this course in various modules by way of checking if our learning and understanding of the concept is correct. In this module like other recap we shall be trying to assess the learning process its efficacy and hopefully its efficiency as well. This is something for you to consider through these quizzes I would like to assess or I would like to give you an opportunity to assess yourself if you have been learning properly throughout this course in different modules. These quizzes they are in the form of questions, a question or statement which would have four options. Only one option is correct and you will have to choose it by yourself by writing on a piece of paper your correct answer and then you should be checking against the correct answer which I would be sharing. You must also remember that in one of the recap I said there are three types of students type A they would like to read the question very carefully and write down their answer type B would be googling very quickly to find the right answer and type C would be those who would not like to do anything. By this time I hope that there is no one amongst you who falls in the category of type C. Let us go to our question. Question says Ahmed asks his friend Abdullah to find him a used iPhone 12 Pro Max. If he i.e. Abdullah succeeds in finding one and buys it from someone for 90,000 rupees and then sells it to Ahmed for 100,000 rupees by disclosing the purchase price. This will be an example of A, Juwala, B, a sale involving Ghurr, C, Murabaha, D, Salam. This is a tricky question in the sense that A is Juwala. I don't think I have explained Juwala in the previous modules but I wanted to throw a googly. So this is a googly question and you should choose your right answer. Is it A? Is it B? Is it C? Is it D? I would like to, previously I have chosen A, I have chosen B, I have chosen D. I don't remember if I ever chose C. So let's see if Murabaha is the right answer. It is correct because in this case the seller is disclosing the profit. When seller discloses the purchase price which in this case is 90,000 rupees and the seller is selling to a purchaser Ahmed this camera for 100,000 so there is a disclosed profit of 10,000 rupees which is a basic characteristic of a Murabaha contract. So I hope most of you actually answered this question correctly. B is wrong or A is wrong, B is also wrong and D is wrong as well. On previous occasions I have been giving you explanations why the wrong answers were wrong. But this time because we are well advanced into this course I would not like to give these explanations you should find the explanations by themselves. So this is your job to find why the wrong answers are wrong. However I would like to explain the term Jualla because we have not covered Jualla so far in this course. Jualla is a kind of agency contract. Remember we have been using Wakala as an agency contract in case of Wakala the fee Wakala fee or agency fee must be disclosed and agreed between the two parties i.e. the agent and the principal. This is a basic requirement of Wakala. In certain situations the principal party may not want to give any amount in the form of a fee if the agent has not performed. So in case of Jualla this facility is there. This used to be used by the people in the Arabian Peninsula at the time of the Prophet peace be upon him. For example if someone's camel has gone into the desert and the party is actually searching for it. So that party can make an announcement saying that if anyone finds me my camel I would be giving certain amount to that person as a reward. Now that certain amount can be fixed as well. So the person can say that I would give 10 or 15 dirhams to someone who would find my camel or it is just I would give some reward. Now if someone finds the camel from the desert and brings that camel back to the owner then the owner would be giving a reward. So in this kind of agency there is a lot of flexibility on the agency fee. Many contemporary practitioners suggest that Jualla should be used in the investment slash fund management industry as well to ensure that the fund manager performs. So according to this view if investors say investment manager if we if you find me a rate of return of 15% or more then I would pay you your management fee of 2%, 1.5% and so on. If you do not find me a rate of return of 15% i.e. if the rate of return happens to be 10% on the portfolio I would not be paying you the management fee. So this is an implication of Jualla contract. In another contract especially in Bahrain the pearl divers used to have a Jualla arrangement with some pearl divers. So if a pearl diver is going into the sea before going into the sea the person could have an arrangement with a Jualla. The Jualla would say let's enter into this Jualla agreement which would allow me to have the first right of purchase. In the evening when you come back with your findings you would show me your pearls and I would then suggest a price if you like it I would buy it even before you go to the market to sell it. So that is called first right of purchase which has been used in quite a number of similar situations.