Module 2: Islamic Deposit, Investment Account, Islamic Financing

Dato' Chong is the Chief Executive Officer of Magnum Berhad. He went to MIB Larkin Perdana and he wanted to open an Islamic savings account. Can MIB proceed with the opening account?

• Yes, every individual can open an Islamic deposit account, regardless of the company he works for.

• No, as a CEO of a company listed in the Negative List, he is not allowed to open the account.

Under Shariah contract of Commodity Murabahah for Islamic Current Account and Savings Account (CASA), products benefits can be communicated, and rate of returns can be published via M2u and board rate.

• True

• False

Where does the buy and sell of the commodity trading perform under Commodity Murabahah contract?

• Bursa Suq Al-Sila

• S & P 500 Stock Market

• Crude Palm Oil Distributor

• Resin Plastic Manufacturer

Under Mudarabah contract, any profit generated from the investment will be shared between both, capital provider (customer) and entrepreneur (Bank) according to _________________ .

• Dividend

• Profit Sharing Ratio (PSR)

• The bank only

• KLIBOR

Mr. Azmi has booked a terrace house in Sepang, and he was not sure whether to apply for home financing or a mortgage loan. As a banker, how do you convince Mr. Azmi to choose Islamic home financing?

i. Granting of rebate for early settlement

ii. No compounding of LPC and other charges

iii. Protection of ceiling rate upon the fluctuation of Standardised Base Rate (SBR)

iv. No early settlement fee / No lock-in period penalty

• i, ii

• ii, iii

• ii, iii , iv

• All of the above