Part (c) of question four asked candidates to distinguish between Musharaka and Mudaraba contracts based on the tenets of Islamic finance, and then to discuss the impact on the relationship between the companies, if the bank issuing the Islamic finance, was also involved in the venture. The discussion between using Musharaka and Mudaraba contracts was generally done well and it was pleasing to see that candidates had paid due attention to the additions to the P4 syllabus under section G. However, few candidates could then discuss the implications on Nubo Co, of the relationship between Pilvi Co and Ulap Bank.