WorksheetsEthics in Islamic Finance
Total questions: 10
Worksheet time: 6mins
Which is the correct definition of ethics?
a set of moral principles that distinguish what is “right from what is wrong”.
a set of moral principles that distinguish what is “wrong from what is right”.
a set of immoral principles that distinguish what is “right from what is wrong”.
•a set of immoral principles that distinguish what is “wrong from what is right”.
Ethical norms include the following EXCEPT
LAW
MORAL
ETHICS
ACTION
There are three (3) broad factors that will affect the way the individuals carry themselves in their business lives EXCEPT:
Individual factors
Legal interpretations
Organisations
Monetory
Ethics are important in financial sectors
Maintaining good corporate governance such as good Board practice, disclosure and transparency and maintaining shareholders' rights.
If the company’s reputation is perceived to be less ethical, investors are interested to buy or hold shares in the company
Ethical behaviour is crucial to maintaining a positive corporate image in the public's eyes, in turn, will attract new investors.
Related Concepts of Akhlaq
Relationship between Outer Self (Physical Body) and Inner Self (Soul)
Relationship between Outer Self (Physical Body) and Other people
Relationship between Outer Self (Physical Body) and Action
Which of the following statements best explained Ihsan
Ihsan denotes doing things sincerely, completely, in a tasteful manner and correctly.
Ihsan denotes doing things easily, completely, in a tasteful manner and correctly.
Ihsan denotes doing things sincerely, completely, in a tasteful manner and based on owns thought.
Akhlaq Guidelines In Business
Fraud and deceit
Monopoly
Keep the promise
No False Promises / Claims
Among the key issues in corporate governance are EXCEPT
the roles and responsibilities of the Board of Directors
the effectiveness of the company’s systems of internal control and risk management
Transparency and provision of information to stakeholders
the structure and composition of the stakeholders
Bank Negara Malaysia (BNM) Guidelines on Corporate Governance mentioned that
Directors should abstain from any discussions or decision making by the Board, where a conflict of interest or potential conflict of interest arises
Directors should involve in the discussions or decision making by the Board, where a conflict of interest or potential conflict of interest arises
Fair debt collection practices are
resorting to intimidation or violence
giving their borrowers written notice
not adhering to relevant information and secrecy provisions
ensuring that customer information provided to debt collectors is clear and accurate
