Podcast
Questions and Answers
What is the term used to describe uncertainty about the terms of a contract in Islamic finance?
What is the term used to describe uncertainty about the terms of a contract in Islamic finance?
- Maysir
- Ghubn
- Gharar (correct)
- Yethi
Which of the following is considered an internal permissible return in Islamic banks?
Which of the following is considered an internal permissible return in Islamic banks?
- Profit from joint ventures (correct)
- Non-disclosure of fees for services
- Forcing market determined pricing
- Charging excessive interest rates
In Islamic finance, what does Maysir refer to?
In Islamic finance, what does Maysir refer to?
- Price fixing
- Gambling (correct)
- Trading in unethical goods
- Uncertainty in contracts
What activity is prohibited in Islamic finance due to the risk of disproportionate harm or loss?
What activity is prohibited in Islamic finance due to the risk of disproportionate harm or loss?
Which of the following is a permissible increase in charge in Islamic banks according to normal market forces?
Which of the following is a permissible increase in charge in Islamic banks according to normal market forces?
What is the permissible Debt to Total Capital ratio according to the text?
What is the permissible Debt to Total Capital ratio according to the text?
What are ethical vices that are prohibited in Islamic finance?
What are ethical vices that are prohibited in Islamic finance?
Which type of account is associated with sole leasing in Islamic banking?
Which type of account is associated with sole leasing in Islamic banking?
What principle is applied in Musharikah in Islamic banking?
What principle is applied in Musharikah in Islamic banking?
In which type of account can you find Mudarabah in Islamic banking?
In which type of account can you find Mudarabah in Islamic banking?
What is the acceptable level of Revenue from impure income as a percentage of total income in Islamic banking?
What is the acceptable level of Revenue from impure income as a percentage of total income in Islamic banking?
Which type of account is linked to Profit sharing principle in Islamic banking?
Which type of account is linked to Profit sharing principle in Islamic banking?
What is the Shari’ah alternative to the concept of insurance?
What is the Shari’ah alternative to the concept of insurance?
Which type of Islamic financial contract involves business finance with profit and loss sharing?
Which type of Islamic financial contract involves business finance with profit and loss sharing?
What is the main characteristic of Islamic credit cards?
What is the main characteristic of Islamic credit cards?
Which type of contract in Islamic banking involves a deferred sale?
Which type of contract in Islamic banking involves a deferred sale?
What fundamental prohibition does Islamic finance strictly adhere to?
What fundamental prohibition does Islamic finance strictly adhere to?
Which type of investment involves variable returns based on equity sharing?
Which type of investment involves variable returns based on equity sharing?
