IIFO 2025 - QUIZ ROUND 2

Faiz wants to create an ethical fintech app based on Shariah. He reads about a modern scholar known for defining maqasid al-shariah in finance.

Who is this influential figure?

• Sheikh Taqi Usmani

• Ustaz Zaharuddin Abd Rahman

• Dr. Jasser Auda

• Dr. Mohd Daud Bakar

Answer explanation

Dr. Jasser Auda is a prominent scholar known for his work on maqasid al-shariah in finance, making him the influential figure Faiz is looking for in creating an ethical fintech app based on Shariah.

Amir is playing a strategy game where he needs to conquer Constantinople. He studies a young Ottoman sultan who achieved this at just 21!

Who was this remarkable conqueror?

• Bayezid I

• Selim I

• Mehmed II

• Suleiman I

Answer explanation

The remarkable conqueror of Constantinople at just 21 was Mehmed II, also known as Mehmed the Conqueror. He successfully captured the city in 1453, marking a significant moment in history.

Zayd's team chooses to present a classical Muslim scholar whose book "Kitab al-Kharaj" dealt with taxation and governance.

Who was the author?

• Al-Mawardi

• Abu Yusuf

• Ibn Taimiyyah

• Al-Ghazali

Answer explanation

The author of "Kitab al-Kharaj" is Abu Yusuf, a prominent scholar known for his work on taxation and governance in Islamic law, distinguishing him from other scholars listed.

Rafiq is reading about Shariah auditing. He learns about a Malaysian scholar who promotes check-and-balance mechanisms in NGOs and finance.

Who is this governance expert?

• Prof. Dr. Engku Rabiah

• Prof. Dr. Zurina Shafii

• Prof. Dr. Aznan Hasan

• Dr. Rusni Hassan

Answer explanation

Prof. Dr. Zurina Shafii is recognized for her work in promoting check-and-balance mechanisms in NGOs and finance, making her the governance expert Rafiq is learning about in the context of Shariah auditing.

Khalid is researching a caliph known for walking the streets at night to check on his people and living simply despite being a ruler.

Who is this legendary Muslim leader?

• Abu Bakr

• Umar ibn al-Khattab

• Uthman ibn Affan

• Harun al-Rashid

Answer explanation

Umar ibn al-Khattab is known for his humility and dedication to his people, often walking the streets at night to ensure their well-being. His simple lifestyle as a caliph exemplifies his commitment to justice and service.

Fatima invests money in a business where profits are shared.

What is the name of this contract?

• Musharakah

• Mudarabah

• Murabahah

• Wakalah

Answer explanation

The correct answer is Mudarabah, which is a partnership where one party provides capital and the other provides expertise, sharing profits. Musharakah involves joint capital, while Murabahah and Wakalah are different types of contracts.

Layla wants to buy goods today for delivery in the future.

Which contract allows payment now and delivery later?

• Bay’

• Salam'

• Istisna’

• Mudarabah

Answer explanation

The correct choice is Salam', which is a contract allowing payment at the time of purchase with delivery of goods at a later date, making it suitable for Layla's needs.

Ahmad needs to commission manufacturing goods with payment on delivery.

Which contract is used?

• Ijarah

• Istisna’

• Musharakah

• Wakalah

Answer explanation

Istisna’ is the correct contract for commissioning goods with payment on delivery, as it allows for manufacturing goods to be produced and paid for upon completion.

Sofia wants to guarantee a loan for her friend.

Which Shariah contract describes this?

• Wakalah

• Kafalah

• Salam

• Istisna’

Answer explanation

Kafalah is the Shariah contract that involves guaranteeing a loan for someone else. In this case, Sofia wants to guarantee a loan for her friend, making Kafalah the correct choice.

Yusuf wants to lease a property according to Shariah.

Which contract applies here?

• Ijarah

• Bai’ Salam

• Istisna’

• Kafalah

Answer explanation

Ijarah is the correct contract for leasing property in Shariah. It allows for the leasing of assets while adhering to Islamic principles, making it suitable for Yusuf's needs.