Objectives of Regulation

To protect consumers and to promote economic efficiency. (correct)

To increase profits and to reduce competition.

To reduce costs and to improve quality.

To promote trade and to reduce unemployment.

Rules-based is more flexible, while principles-based is more rigid.

Rules-based focuses on specific requirements, while principles-based focuses on overall outcomes. (correct)

Principles-based is more suitable for complex industries, while rules-based is better for simple industries.

Rules-based is used in the US, while principles-based is used in the EU.

To promote the global Islamic financial services industry (correct)

To regulate the conventional banking system

To provide financial assistance to developing countries

To promote the use of cryptocurrencies

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