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IIFO 2025 - QUIZ ROUND 2

Total questions: 15

Worksheet time: 11mins

Name
Class
Date
1.

Faiz wants to create an ethical fintech app based on Shariah. He reads about a modern scholar known for defining maqasid al-shariah in finance.

Who is this influential figure?

a)

Sheikh Taqi Usmani

b)

Ustaz Zaharuddin Abd Rahman

c)

Dr. Jasser Auda

d)

Dr. Mohd Daud Bakar

2.

Amir is playing a strategy game where he needs to conquer Constantinople. He studies a young Ottoman sultan who achieved this at just 21!

Who was this remarkable conqueror?

a)

Bayezid I

b)

Selim I

c)

Mehmed II

d)

Suleiman I

3.

Zayd's team chooses to present a classical Muslim scholar whose book "Kitab al-Kharaj" dealt with taxation and governance.

Who was the author?

a)

Al-Mawardi

b)

Abu Yusuf

c)

Ibn Taimiyyah

d)

Al-Ghazali

4.

Rafiq is reading about Shariah auditing. He learns about a Malaysian scholar who promotes check-and-balance mechanisms in NGOs and finance.

Who is this governance expert?

a)

Prof. Dr. Engku Rabiah

b)

Prof. Dr. Zurina Shafii

c)

Prof. Dr. Aznan Hasan

d)

Dr. Rusni Hassan

5.

Khalid is researching a caliph known for walking the streets at night to check on his people and living simply despite being a ruler.

Who is this legendary Muslim leader?

a)

Abu Bakr

b)

Umar ibn al-Khattab

c)

Uthman ibn Affan

d)

Harun al-Rashid

6.

Fatima invests money in a business where profits are shared.

What is the name of this contract?

a)

Musharakah

b)

Mudarabah

c)

Murabahah

d)

Wakalah

7.

Layla wants to buy goods today for delivery in the future.

Which contract allows payment now and delivery later?

a)

Bay’

b)

Salam'

c)

Istisna’

d)

Mudarabah

8.

Ahmad needs to commission manufacturing goods with payment on delivery.

Which contract is used?

a)

Ijarah

b)

Istisna’

c)

Musharakah

d)

Wakalah

9.

Sofia wants to guarantee a loan for her friend.

Which Shariah contract describes this?

a)

Wakalah

b)

Kafalah

c)

Salam

d)

Istisna’

10.

Yusuf wants to lease a property according to Shariah.

Which contract applies here?

a)

Ijarah

b)

Bai’ Salam

c)

Istisna’

d)

Kafalah

11.

Mariam and Zayd invest together and share profit and loss according to the profit sharing ratio.

What contract do they use?

a)

Mudarabah

b)

Musharakah

c)

Murabahah

d)

Kafalah

12.

Tariq is confused about whether a new financial product is halal. His ustaz tells him to check with the Shariah authority under Majlis Ulama Indonesia that issues fatwas for Islamic finance.

Which institution is this?

a)

Baznas

b)

DSN-MUI

c)

LPS

d)

IFII

13.

Zeynep wants to open a bank account in Türkiye that avoids interest (riba) and follows Islamic principles.

Which type of bank should she go to?

a)

Conventional bank

b)

Participation bank

c)

Investment bank

d)

Central bank

14.

Which madhhab’s rulings are most often referenced by Islamic finance standard-setting bodies like AAOIFI and IFSB?

a)

Shafi’i

b)

Hanafi

c)

Zahiri

d)

Hanbali

15.

Areeba is preparing for a debate on who regulates Islamic finance in Pakistan.

Which authority is the key regulator of Islamic banking?

a)

Ministry of Finance

b)

Securities & Exchange Commission of Pakistan (SECP)

c)

State Bank of Pakistan (SBP)

d)

Federal Shariah Court