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Questions and Answers
Islamic Economics is a subset of Islamic finance.
Islamic Economics is a subset of Islamic finance.
False (B)
Islamic Banking is a core part of Islamic finance.
Islamic Banking is a core part of Islamic finance.
True (A)
Mu'āmalāt deals only with Islamic legality and not economic repercussions.
Mu'āmalāt deals only with Islamic legality and not economic repercussions.
False (B)
Fiqh Al-Munakahat primarily deals with criminal law.
Fiqh Al-Munakahat primarily deals with criminal law.
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Islamic financial institutions follow the Shari’ah standards of the Financial Action Task Force (FATF).
Islamic financial institutions follow the Shari’ah standards of the Financial Action Task Force (FATF).
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Fiqh Al-Jinayat focuses on financial transactions in Islamic law.
Fiqh Al-Jinayat focuses on financial transactions in Islamic law.
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The basis for Islamic finance is rooted in Aqidah (Creed).
The basis for Islamic finance is rooted in Aqidah (Creed).
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Islamic Finance includes aspects such as production and consumption, according to the text.
Islamic Finance includes aspects such as production and consumption, according to the text.
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Fiqh Al-Ibadat encompasses all aspects of economic activity.
Fiqh Al-Ibadat encompasses all aspects of economic activity.
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Islamic Banking adheres to Shari’ah-compliant principles in financing.
Islamic Banking adheres to Shari’ah-compliant principles in financing.
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