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WorksheetsMUSHARAKAH AND IJARAH CONTRACT
Total questions: 10
Worksheet time: 5mins
Which of the following is a required condition in a musharakah contract?
Profit must be shared equally
Capital must be contributed in gold or silver only
Profit-sharing ratio must be agreed upon by all partners
Only intangible assets can be contributed
In a Musharakah Mutanaqisah arrangement, what happens over time?
The bank increases its share while the customer pays rent
The customer gradually purchases the bank's share
The rental payment becomes an interest-based loan
The property is sold to a third party after full repayment
Which of the following is true regarding the profit distribution method in Musharakah?
It must always be based on net profit
Gross profit is preferred to protect the bank's interest
Profit-sharing ratio is based on gross profit to safeguard customers
SAC-BNM only allows profit-sharing on direct expenses
What does the term "Ijarah" refer to in Islamic Finance
A type of investment fund
A loan with interest
A leasing contract involving rent for asset used
A profit-sharing agreement
Which of the following is not a key elements of an Ijarah Contract
Contracting parties
Lease period
Subject matter
Interest rate
What is a key difference between Operating Ijarah and Ijarah Tamwiliyyah?
Ijarah Tamwiliyyah leads to ownership transfer
Only Ijarah Tamwiliyyah allows payment in gold
Operating Ijarah end with transfer of ownership
Operating Ijarah requires the lessee to pay zakat
One of the benefits of Ijarah for lessee is
Earning interest on rental payments
Avoiding the need to sign a contract
Automatic asset ownership without any payment
Using the asset immediately after first payment
Why do some Muslim Jurists object to certain forms of Ijarah?
Because it uses cryptocurrency
Because it may involve gharar and jahalah
Because it includes zakat payments
Because it does not involve rental payments
The definition of Musharakah is a joint venture or partnership where two or more parties invest capital & share profits and losses based on agreed ration
True
False
There are 3 main types of musharakah
False
True
