Islamic finance

Please, choose a wrong statement

• Islamic finance can be found only in Muslim countries

• Islamic finance exists in both Muslim and non-Muslim countries

• Islamic finance can be found only in rich countries

• Islamic finance exists in rich as well as in poorer countries

MGISA is an institution based on Islamic finance which was established in the 1960s in

• Malaysia

• Saudi Arabia

• Egypt

• Pakistan

Which of the below mentioned institions is responsible for issuing Islamic finance-related supervisory and regulatory standards and guidelines?

• Accounting and Auditing Organization

• Islamic Finance International Forum

• Islamic Financial Services Board

• International Islamic Financial Market

Which of the following countries has an ambition to become a hub for Islamic finance?

• France

• Germany

• UK

• Denmark

In Islam excessive uncertainty is prohibited. How is it called?

• Gharar

• Riba

• Maysir

• Zakat

In Islamic economics, the profit obtained from __________ and from _______________ is considered to be legitimate.

• Productive human activity

• Risk-sharing

• Intellectual gambling

• Financial speculation

Musharakah is...

• a benevolent loan, a form of financial assistance to the needy to be repaid free of charge

• Joint partnership where two or more partners provide capital to finance a project

• An increase in wealth that is not related to engaging in a productive activity

• Generally used to finance consumer and corporate credit

There are 2 types of musharakah

• Full and partial

• Limited and unlimited

• Increasing and diminishing

• There is only 1 type of musharakah

Profit-and-loss sharing instruments include

• Musharakah

• Mudarabah

• Ijarah

• Salam

Non-PLS instruments include

• Murabahah

• Ijarah

• Istisna'

• Musharakah