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WorksheetsInstitutions for islamic finance and banking
Total questions: 10
Worksheet time: 4mins
The Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI) was established & issued the first accounting auditing, governance & shariah standards in 1990.
True
False
Which of the following have not been issued in AAOIFI.
Sharia standards
Accounting standards
Auditing standards
Halal standards
What is the main aim of Islamic Financial Services Board (IFSB)?
To support development of the industry as well as the stability and resilience of the Islamic financial system and also the sound growth
To develop accounting,auditing, governance, ethics, and sharia standard for islamic financial institution
Developing the Islamic financial services industry and promoting industry in various fields
Which of the following are an IFSB function?
Guiding policy and regulations
cooperation and collaboration
Capacity building and technical assistance
Conduct constructive interreligious and intercultural dialogue
Is Majma Fiqh Islami (MFI) also known as The International Islamic Fiqh Academy (IIFA)?
No
Yes
Where is the Majma Fiqh Islami (MFI) headquarters?
Jeddah, Saudi Arabia.
Riyadh, Saudi Arabia
Cairo, Egypt
Kuwait
What is the primary objective of CIBAFI?
Represent the interests
Develop industry standards and best practices
Foster collaboration and knowledge-sharing
Promote awareness and understanding of Islamic finance
General Council for Islamic Banks and Financial Institutions primary location is in Bahrain.
True
False
What are the roles of IIFM?
Develops best practices at a worldwide level and achives Shari'ah harmonisation to play its part in the unification of the market.
Concentrating on standardising Islamic financial products and contracts.
Helps to provide consistency and alignment across jurisdictions by bringing national regulatory frameworks into line with international best practices.
Framework for secondary market selling documentations, products and Islamic instruments, including Sukuk.
When IIFM was founded?
2011
2021
2001
1991
