Podcast
Questions and Answers
Which mode of Islamic banking/finance involves profit-sharing and loss-bearing?
Which mode of Islamic banking/finance involves profit-sharing and loss-bearing?
What does Sharia prohibit in the context of Islamic banking/finance?
What does Sharia prohibit in the context of Islamic banking/finance?
What is considered haram in Islamic banking/finance?
What is considered haram in Islamic banking/finance?
Which mode of Islamic banking/finance involves safekeeping?
Which mode of Islamic banking/finance involves safekeeping?
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What is the practical application of Islamic law in Islamic banking/finance called?
What is the practical application of Islamic law in Islamic banking/finance called?
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In ARURF, what kind of champions can players get in champ select?
In ARURF, what kind of champions can players get in champ select?
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What happens to good champs in ARURF according to the text?
What happens to good champs in ARURF according to the text?
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What does the text refer to as 'tryhard' in URF?
What does the text refer to as 'tryhard' in URF?
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How are meh champs and bad champs described in ARURF?
How are meh champs and bad champs described in ARURF?
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What is the main difference between URF and ARURF according to the text?
What is the main difference between URF and ARURF according to the text?
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Study Notes
Islamic Banking and Finance
- Profit-sharing and loss-bearing in Islamic finance is conducted through the Mudarabah mode, where one party provides capital and the other manages the investment.
- Sharia law prohibits practices such as Riba (usury), which entails earning interest on loans, and involves unethical financial gains.
- Things considered haram (forbidden) in Islamic banking include investments in alcohol, gambling, and any businesses that contradict Islamic values.
- The Wadiah mode in Islamic finance focuses on safekeeping assets, where deposits are held securely without guaranteeing a return.
- The practical application of Islamic law in banking and finance is referred to as Fiqh al-Muamalat, guiding all financial transactions in accordance with Sharia.
ARURF (All Random Ultra Rapid Fire)
- In ARURF, players can receive champions that were recently strong or well-performing, known as "good champs."
- Good champions in ARURF can face changes in ability effectiveness, potentially leading to an imbalance in gameplay.
- The term 'tryhard' in URF (Ultra Rapid Fire) refers to players who play competitively or take the game too seriously, focusing on winning rather than having fun.
- Meh champs are those considered average, while bad champs are worse in performance, often leading to frustration during matches.
- The main difference between URF and ARURF lies in selection mechanics, where ARURF offers random champion selection compared to URF's more balanced champion pool.
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Description
Test your knowledge of Islamic banking and finance with this quiz. Explore concepts such as Mudarabah, Wadiah, Musharaka, and other key principles of Sharia-compliant finance.