FINAL QUIZ

Which element is TOLERATED in Islam?

• Ghurm (Risk)

• Gharar Fahish

• Interest

• Game of chance

X is the first Islamic bank in Malaysia that was established in 1983. What is X?

• Tabung Haji

• Bank Islam

• Mit Ghamr

• Bank Muamalat

The main regulator of Islamic capital market in Malaysia is...

• Securities Commission

• Shariah Advisory Council

• Bank Negara Malaysia

• Shariah Committee

Which contracts are not suitable for Islamic banking financing products?

• Ijarah

• Qard

• Bai'

• Tawarruq

Shariah Advisory Council of Securities Commission will update the list of shariah-compliant securities on...

• May and November

• January and December

• February and November

• June and December

Which of the following is NOT TRUE about asset-based sukuk?

• Debt-like structures

• True sale does not occur, ownership merely “on paper”

• In event of default, Sukuk holders have recourse to specific assets

• The majority of Sukuk on issuance today are of this category

Which of the following is NOT the distinct feature of takaful?

• Risk-sharing concept

• Based on buy and sale contract

• There is no element of riba, maysir and gharar

• Shariah board needs to be established

IFSA 2013 has been repealed in 2016

• True

• False

Profit is permissible in sale contract due to the presence of:

• 'iwad

• ju'alah

• ujrah

• i'tiqad

Which of the following product is not insured by PIDM?

• Term Deposit-i Tawarruq

• Qard Current Account – i

• Premier Mudharabah Account-I

• Current Account-i