SLOT 1 : DEVELOPING SUSTAINABLE ISLAMIC FINANCIAL PRODUCTS: ADDRESING CURRENT ECONOMIC CHALLENGES

What is the main principle in Islamic finance that ensures financial products are developed sustainably?

• Riba

• Gharar

• Maslahah

• Maisir

What are the main economic challenges faced when developing sustainable Islamic financial products?

• Competition with conventional products

• Lack of investment funds

• High interest rates

• Lack of technological innovation

In the context of Islamic finance development, what does 'Maqasid al-Shariah' mean?

• Protection of community welfare

• Maximizing profits

• Encouraging competition in the global market

• Complying with banking laws

Which of the following is an important element in the development of Islamic financial products?

• Use of derivatives for speculation

• Avoidance of riba and gharar

• Focus on immediate profits

• Adjustment to market interest rates

How can Islamic financial products contribute to sustainable economic development?

• By investing in Sharia-compliant sectors

• By providing loans at low interest rates

• By increasing taxes on customers

• By raising operational costs

What is the main challenge in the development of Islamic financial products?

• Lack of demand from customers

• Imbalance between Sharia principles and global market needs

• Too much oversight by financial bodies

• Products are too cheap to market

What does 'istithmar' mean in the context of Islamic finance?

• Investment that complies with Sharia principles

• Fixed-rate loan

• Derivatives used for hedging

• Funding for non-Sharia compliant projects

What is the role of technology in developing sustainable Islamic financial products?

• Replacing Sharia advisory bodies

• Facilitating innovation of Sharia-compliant products

• Eliminating the need for waqf funds

• Making products more expensive

What is the main purpose of 'green sukuk' in Islamic finance?

• To offer high dividends to investors

• To invest in high-risk sectors

• To finance environmentally friendly projects that comply with Sharia principles

• To finance the entertainment industry

How does Islamic finance contribute to social justice?

• By providing high returns to investors

• Through reducing zakat to the poor

• By eliminating riba and distributing wealth fairly

• By removing Sharia principles from investments