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Questions and Answers
Which condition must be met before the seller can sell a commodity to the buyer?
Which condition must be met before the seller can sell a commodity to the buyer?
- The seller must explain the details of the commodity
- The buyer must specify the commodity
- The commodity must be in possession of the buyer
- The seller must own the commodity (correct)
What is a transferable commodity in the context of organized Tawarruq?
What is a transferable commodity in the context of organized Tawarruq?
- Commodities used in Bay 'Inah sales
- Commodities owned by the financial institutions
- Commodities that can be transferred from place to place (correct)
- Commodities that are specified by the buyer
What do the majority of jurists consider regarding Bay 'Inah sales?
What do the majority of jurists consider regarding Bay 'Inah sales?
- Permissible under certain conditions
- Prohibited according to Islamic law (correct)
- Mandatory for financial institutions
- Recommended in Islamic finance
Which commodities are examples of transferable commodities in organized Tawarruq?
Which commodities are examples of transferable commodities in organized Tawarruq?
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Which contract involves the sale of an item to the buyer at a selling price comprising the cost price plus profit margin?
Which contract involves the sale of an item to the buyer at a selling price comprising the cost price plus profit margin?
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Which feature is explicitly mentioned as a characteristic of the Murabaha contract?
Which feature is explicitly mentioned as a characteristic of the Murabaha contract?
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Under which category does the sale contract that involves prepayment for future delivery fall?
Under which category does the sale contract that involves prepayment for future delivery fall?
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Which contract refers to a sale of an item for a price payable on a deferred basis?
Which contract refers to a sale of an item for a price payable on a deferred basis?
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'Bay' al Inah' refers to which type of transaction?
'Bay' al Inah' refers to which type of transaction?
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