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Islamic Finance Chapter 1: An Introduction

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Islamic Finance Chapter 1: An Introduction

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Questions and Answers

What is Islamic economics?

A term that refers to the economic system based on Chinese principles.

A term that refers to the economic system based on Indian principles.

A term that refers to the economic system based on Islamic principles and values. (correct)

A term that refers to the system based on Western principles.

Which sector in Egypt is under the supervision of the Financial Regulatory Authority (FRA)?

Conventional banks

Islamic banks

Banking finance sector

Non-banking finance sector (correct)

What is the main focus of Islamic finance?

Investment only

Exchange only

Production only

Financial transactions and products compliant with Islamic principles (correct)

Where does Islamic Banking fall under in the scope of Islamic finance?

It is a core part of Islamic finance concerned with Shari’ah-compliant bank financing Signup and view all the answers

Which institution supervises the banking finance sector in Egypt?

The Central Bank Signup and view all the answers

What falls under the non-banking finance sector in Egypt?

Financial securities like bonds, stocks, and sukuk Signup and view all the answers

Which part of the financial sector focuses specifically on financial transactions compliant with Islamic principles?

Islamic Finance Signup and view all the answers

'Islamic Economics' encompasses all aspects of economic activity EXCEPT:

Technological advancements Signup and view all the answers

Which of the following sectors does NOT fall under the financial sector in Egypt?

Educational sector Signup and view all the answers

What is the primary focus of Islamic Banking?

Study of Shari’ah-compliant bank financing Signup and view all the answers