Islamic Banking and Finance Quiz

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.

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.