Deck 2: Islamic Banking and Finance: Part B

Question 1

First Islamic bank was recognized in

A)pakistan
B)oman
C)malaysia
D)qatar

Answer 1

malaysia

Question 2

A joint project or partnership formation with profit/loss contribution implications that is used in Islamic finance as an alternative of interest-bearing loans is

A)ijarah
B)musharika
C)murabah
D)hibah

Answer 2

murabah

Question 3

Profit is based on accord of parties, but loss is all time issue to proportion of

A)capital
B)investment
C)work
D)a & b

Answer 3

a & b

Question 4

A number of Islamic banks were formed to provide to this particular banking market in late

A)20th century
B)19th century
C)18th century
D)none of all of these

Question 5

Working capital financing in Musharika is

A)liability side financing
B)asset side financing
C)assets
D)liabilities

Question 6

How much etc in Musharika is related to

A)quantified
B)ma'loom
C)specified
D)a & b

Question 7

Products of first type may be given to Musharika in capital while second kind of products cannot be a part of capital observation of

A)imam maliki
B)imam hanafi
C)imam shafi
D)imam hanabli

Question 8

Islamic banking structure is based on

A)risk sharing
B)interest sharing
C)a & b
D)premium sharing

Question 9

An investor and his customer contribute either in shared possession of an assets or equipment, or in a combined commercial venture is

A)diminishing musharika
B)musharika
C)ijarah
D)salam

Question 10

Qur'an forbids

A)gambling
B)interest sharing
C)gharar
D)all of answers are correct

Question 11

A pioneering attempt, in Shariah compliant investments banking was undertaken in 1963 in

A)oman
B)saudia arabia
C)egypt
D)pakistan

Question 12

Giving share of investor to customer on lease is the

A)basis of musharika
B)basis of diminishing musharika
C)basis of ijarah
D)basis of hibah

Question 13

The term IDB stands for

A)islamic development bond.
B)islamic development bank.
C)islamic derivatives business.
D)islamic document bureau