WorksheetsBai’ al-Istijrar Quiz
Total questions: 16
Worksheet time: 8mins
What is Bai’ al-Istijrar?
Sale contract involving deferred payment
A contract of repeated purchase without initial pricing agreement
Loan-based Islamic contract
Partnership contract
Which of the following is a key feature of Bai’ al-Istijrar?
Immediate lump sum payment
Repeated supply of goods without prior pricing agreement
Profit-sharing ratio
No delivery of goods
Which condition is required for the validity of Bai’ al-Istijrar?
Goods must be intangible
There must be clear agreement on the price at the time of each transaction
The contract must be based on ijarah
The goods must be delivered after full payment
According to some jurists, Bai’ al-Istijrar is valid when...
Payment is made after one year
There is mutual understanding and customary practice
The price is fixed retroactively
Goods are not delivered physically
Which school of thought allows Bai’ al-Istijrar based on urf (custom)?
Maliki
Shafi’i
Hanbali
Hanafi
Bai’ al-Mu’atah refers to:
Credit-based sale
Sale through offer and acceptance without spoken words
Loan given in kind
Sale with delayed delivery
Which best describes the application of Bai’ al-Istijrar in modern Islamic banking?
Profit-sharing investment
Repeated supply arrangements like utilities or fuel supply
Foreign currency trading
Short-term equity financing
What is Bai’ al-Dayn?
Sale of gold for silver
Sale of existing debt
Loan repayment contract
Partnership-based sale
In Islamic law, a debt (dayn) is considered:
Tangible and immediately transferable
A physical asset
A liability that can be sold under strict conditions
Equivalent to cash in all aspects
Which of the following is a type of Bai’ al-Dayn?
Forward sale
Profit-sharing contract
Lease agreement
Partnership contract
What is a Shariah issue in contemporary Bai’ al-Dayn?
Prohibition of gold trading
Use of conventional interest rates
Sale of debt at a discount
Issuance of zakat certificates
Which Islamic contract is commonly confused with Bai’ al-Dayn due to similar structure?
Qard
Ijarah
Salam
Murabahah
What differentiates al-Dayn from al-Qard?
Al-Qard is always a sale contract
Al-Dayn must be given without return
Al-Qard is a loan, while al-Dayn refers to debt arising from a sale
Both are identical in Islamic jurisprudence
What is the main concern with selling debt (Bai’ al-Dayn) in the secondary market?
Currency fluctuation
Trading at face value
Risk of riba through discounted pricing
Lack of buyer interest
Which of the following is NOT a Shariah-compliant contract?
Bai’ al-Dayn
Sale of a debt to a third party
Istisna’ financing
Ijarah contract
Why is Bai’ al-Dayn controversial in Islamic finance?
It is not mentioned in classical texts
It involves gharar
It may lead to riba if not structured properly
It includes joint venture risks
