Instrument ( chapter 1 ) Islamic Financial System

When did Islamic financial services in Malaysia start?

• 2010

• 1960s

• 1983

• 2009

What was the first Islamic bank established in Malaysia?

• CIMB Islamic

• Maybank Islamic

• Bank Negara Malaysia

• Bank Islam

Which principle is not part of an Islamic Financial system?

• Prohibition of interest

• Prohibition of speculative

• Encouragement of gambling

• Shariah approved activities

What is the Islamic financial instrument based on a markup sale called?

• Ijarah

• Murabaha

• Mudaraba

• Musharakah

Which type of Islamic financial contract involves partnership?

• Murabaha

• Ijarah

• Musharakah

• Mudaraba

What is the Islamic financial instrument based on a forward sale called?

• Bay' al-salam

• Murabaha

• Mudaraba

• Musharakah

How many commercial Islamic banks are there in Malaysia?

• 10

• 15

• 20

• 17

Which type of Islamic financial contract involves venture capital?

• Ijarah

• Mudaraba

• Musharakah

• Murabaha

What is the main principle of an Islamic Financial system?

• Encouragement of speculation

• Prohibition of charity

• Shariah approved activities

• Prohibition of interest

Which financial institution is not part of the Malaysian financial system?

• Financial market

• Non-financial banking institution

• Offshore

• Banking institution