Commercial and Islamic banks

What is the primary function of banks?

• Managing restaurants

• Selling shoes

• Opening accounts and transferring funds

• Making payments

Which institution is the central bank of Malaysia?

• Securities Commission Malaysia

• Malaysian Investment Development Authority (MIDA)

• Perbadanan Insurans Deposit Malaysia (PIDM)

• Bank Negara Malaysia (BNM)

What does PIDM stand for?

• Private Insurance Development Malaysia

• Perbadanan Insurans Deposit Malaysia

• Perbadanan Investment Deposit Malaysia

• Public Insurance Deposit Malaysia

What is the maximum amount insured by PIDM per depositor?

• RM 500,000

• RM 1,000,000

• RM 100,000

• RM 250,000

Which type of banking complies with Islamic law?

• Retail banking

• Conventional banking

• Islamic banking

• Investment banking

What is one of the basic services provided by banks?

• Real estate management

• Stock trading

• Opening accounts

• Tax consultancy

Which of the following is NOT a function of banks?

• Transferring funds

• Making payments

• Providing legal advice

• Financing and crediting facilities

What is the role of Bank Negara Malaysia?

• To provide loans to individuals

• To regulate financial institutions

• To manage personal savings

• To sell insurance products

Which of the following statements is true about BNM and PIDM?

• BNM regulates some banks.

• All banks regulated by BNM must be members of PIDM.

• PIDM is responsible for monetary policy.

• BNM insures deposits directly.

What type of banking system is mentioned in the text?

• Investment banking

• Islamic banking

• Cooperative banking

• Microfinance banking