FIN546 INTRODCUTION TO ISLAMIC FINANCE

When was the first Islamic bank formed?

• 1984

• 1975

• 1983

• 1971

What is the main objective of Sharia in financial transactions?

• Focus on monopolies

• Promote financial risks

• Gain profit

• Preserve wealth

When was the Islamic Development Bank established?

• 1971

• 1975

• 1984

• 1983

What is the entity established to deal with Sharia issues in the Islamic financial services industry?

• The Shari'ah Board for Islamic Finance

• The Shari'ah Board for Islamic Banks

• The Shari'ah Board for Islamic Finance

• The International Board for Islamic Financial Services

When was Islamic insurance (Takaful) introduced?

• 1994

• 2000

• 1990

• 2010

What is the body responsible for the accounting and Sharia standards for Islamic financial institutions?

• The Shariah Board for Islamic Financial Institutions

• The International Accounting and Auditing Organization for Islamic Financial Institutions

• The Shariah Accounting and Auditing Organization for Islamic Financial Institutions

• The International Organization for Islamic Financial Institutions

When was the Islamic Development Bank established?

• 1975

• 1980

• 1985

• 1990

What is the body responsible for legal matters and auditing for Islamic financial institutions?

• The Sharia Authority for Islamic Financial Institutions

• The International Authority for Accounting and Auditing for Islamic Financial Institutions

• The International Authority for Islamic Financial Institutions

• The Sharia Authority for Accounting and Auditing for Islamic Financial Institutions

When was the Islamic money market introduced?

• 1994

• 2010

• 2000

• 1990

What is the body responsible for accounting and Sharia standards for Islamic financial institutions?

• The Shariah Board for Islamic Financial Institutions

• The International Accounting and Auditing Organization for Islamic Financial Institutions

• The International Organization for Islamic Financial Institutions

• The Shariah Audit and Accounting Organization for Islamic Financial Institutions