3_Islamic Banking and Prohibited Transactions

What is the general principle regarding transactions in Islam according to the text?

• All transactions are allowed unless prohibited

• All transactions are allowed regardless of evidence

• All transactions are prohibited unless stated otherwise

• Only certain transactions are allowed

Which of the following is an example of a transaction that is haram due to its substance?

• Buying a car

• Selling alcohol

• Renting a house

• Trading stocks

What does 'Tadlis' refer to in the context of prohibited transactions?

• Transparent transactions

• Honest marketing

• Fair trading practices

• Deceptive pricing

Which of the following is NOT a factor that can make a transaction haram according to the text?

• Haram due to market conditions

• Haram due to incomplete contracts

• Haram due to external factors

• Haram due to its substance

What is 'Gharar' as defined in the text?

• A method of investment

• A type of fair trade

• A form of gambling

• Uncertainty in transactions

Which of the following practices is considered 'Riba'?

• Offering discounts on products

• Charging interest on loans

• Selling goods at a fair price

• Trading without profit

What is the consequence of engaging in 'Maysir' according to Islamic principles?

• It is considered a form of investment

• It is a traditional practice

• It is prohibited due to unfairness

• It is encouraged for economic growth

What does 'Risywah' refer to in Islamic finance?

• A type of loan

• Bribery or corruption

• A form of investment

• A legitimate business transaction

Which of the following is a requirement for a valid contract in Islamic finance?

• All of the above

• Presence of witnesses

• Agreement on price

• Written documentation

What is the significance of the Quranic verse mentioned in relation to alcohol?

• It prohibits the consumption of alcohol

• It encourages moderation in drinking

• It allows for exceptions in certain cases

• It promotes the sale of alcohol