Islamic Finance 101-A

Takaful is basically a Shariah-compliant

• loan

• insurance

• investment

• ownership

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

Identify Islamic Bank in Malaysia from the list given below

• CIMB Bank

• RHB Bank

• Tabung Haji

• Bank Islam Berhad

What is the first islamic financial institution in Malaysia?

• tabung haji

• bank islam

• takaful ikhlas

• bank rakyat

Gharar means uncertainty.

• True

• False

All financial instruments (e.g. stocks and mutual funds) need to get the approval from Shariah Advisory Council (SAC) of the Securities Commission Malaysia.

• True

• False

Which are two types of common Islamic capital market product?

• Sukuk

• Mutual Fund

• Bitcoin

One of the primary objectives of Islam (Maqasid Al-Shariah) from the investment perspective is?

• Protection of Religion

• Protection of Intellect

• Protection of Wealth/Property

• Protection of Life