Topic 8 Part 1

Shari’ah Contracts for Islamic Financial Instruments does not include:

• Security

• Charitable

• Privacy

• Agency

Kafalah is under

• Security

• Charitable

• Privacy

• Agency

Wakalah is under which category:

• Security

• Charitable

• Privacy

• Agency

Hibah is under which category:

• Security

• Charitable

• Privacy

• Agency

Al-makful lah is

• Principal Debtor

• Creditor

• Guarantor

• Guaranteed

al-makful anh is

• Principal Debtor

• Creditor

• Guarantor

• Guaranteed

al-kafil is

• Principal Debtor

• Creditor

• Guarantor

• Guaranteed

Performing a task on behalf of others, preservation and delegation of a job to another is definition for

• Hibah

• Wakalah

• Kafalah

• Hakalah

______________ is a transfer of legal and beneficial ownership of the assets from the donor to the beneficiary on volunteer basis. i.e. without valuable consideration and compensation

• Hibah

• Wakalah

• Kafalah

• Hakalah

Wakalah required depositors to pay

• Agency fee

• Registration fee

• School Fee

• Security Fee