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WorksheetsChapter 2.2: Islamic Banks
Total questions: 10
Worksheet time: 50mins
Activities that involve interest (riba), gambling (maisir) and speculative trading (gharar) are prohibited in Islamic Banking
True
False
Corporate Finance
Sales & Trading
A principle where if the entrepreneur gain a profit, it will be shared between the capital provider and the entrepreneur is called:
Al-Ujr
Al-Murabahah
Al-Musyarakah
Al-Mudharabah
In Al-Rahn concept, if the borrower default, the bank have the right to sell off the collateralized asset to settle off the debt and if there is balance from selling off the asset, it should be return back to the borrower.
True
False
The only difference between Conventional and Islamic Bank is that Islamic Bank follow the shariah rule.
True
False
Unlike the conventional one, Islamic Banks in Malaysia is governed by the IFSA 2013.
True
False
Following are true about Islamic Bank, EXCEPT
Islamic Bank does not charge interest to their customer
Islamic Bank apply the 'aqad' concept'
Islamic Bank offer different banking business than the conventional one
Islamic Bank charge fee on their services
Following explain the concept of Al-Murabahah EXCEPT
Bank and the customer will have a seller-buyer relationship
The Bank will purchase the item desired by the customer and resell it back to the customer at the same price
Both the bank and customer must agree on the profit that the bank will get from the financing
The customer can pay back the bank either in lump sum or in installment
Which of the following services that Islamic Bank will charge al-ujr on it
Al-Wadiah Yad-Dhamanah
Al-Musyarakah
Al-Ijarah
Al-Qardhul Hassan
Both the conventional and Islamic Bank are Commercial Bank.
True
False
Following are true about Al-Mudharabah and Al-Musyarakah EXCEPT
Al-Mudharabah is not a partnership
Both share their profit
In Al-Musyarakah, loss will be borne by both of the parties
Both principle share their loss between the parties
