Islamic finance_general

Islamic finance is strongly _________oriented

• profit

• money

• equity

• interest

A "sukuk" is basically a Shariah-compliant

• loan

• profit

• bank cheque

• investment certificate

"Takaful" is basically a Shariah - compliant

• loan

• insurance

• investment

• ownership

Which from the following is/are NOT permitted under Islamic Financial Principles

I. Interest

II. Short selling

III. Non-asset backed securities

• I only

• I and II

• I and III

• I, II, and III

A type of partnership where one party offers funds while other gives expertise and management is

• Murabaha

• Musharaka

• Ijarah

• Mudaraba

The Islamic financial system prohibits transaction featuring

• Extreme uncertainties resulting from speculation and gambling

• Sharing of profit and risk of loss

• Partnership agreements

• Trading for profit

Are Islamic banking products for Muslims only

• For Muslims and those non-Muslims who are allowed by Shariah scholars

• No

• Yes

• For muslims and those who convert to muslims

Wakalah is used by Islamic banks mostly for

• Consumer loans

• Sales through documents

• Fund management through agency based documents

• Guaranteeing payments

Which of the following is a type of investing instrument?

• Musharakah

• Musavvama

• Kafalah

• Qimar

Banking may broadly be described as the business of providing

• Investment services

• Financial services

• Loans and mortgages

• Foreign exchange services