Securities Commission Shariah Resolutions II

<p>It is a form of trading that has a long history and practice in the muamalat system. (A)</p> Signup and view all the answers

<p>The potential for it to become a form of interest-based money-lending. (C)</p> Signup and view all the answers

<p>A fixed pre-determined price set by the seller. (D)</p> Signup and view all the answers

<p>The practice of selling war booty by the Companions of the Prophet. (B)</p> Signup and view all the answers

<p>He would call out prices and invite bids from different buyers. (A)</p> Signup and view all the answers

<p>An approach that combines two or more opinions within a school of thought to formulate a new opinion. (C)</p> Signup and view all the answers

<p>Talfiq involves combining multiple opinions, while identifying exceptions focuses on finding specific cases where general rules don't apply. (D)</p> Signup and view all the answers

<p>The financier always holds a majority share of the asset ownership. (B)</p> Signup and view all the answers

<p>It allows for the financing of large projects through shared ownership. (C)</p> Signup and view all the answers

<p>Bai' bithaman Ajil (Deferred payment sale) (C)</p> Signup and view all the answers

<p>Offer a mechanism for ABC company to raise funds through shared ownership. (A)</p> Signup and view all the answers

<p>To develop financial instruments that are compatible with the principles of Islamic jurisprudence. (B)</p> Signup and view all the answers

<p>To provide rulings on the permissibility of financial instruments and transactions. (D)</p> Signup and view all the answers

<p>The existence of jahalah (ignorance) in the price of the contract. (C)</p> Signup and view all the answers

<p>Imam Ahmad bin Hanbal and the Hanbali school (A)</p> Signup and view all the answers

<p>Qiyas (C)</p> Signup and view all the answers

<p>The permissibility of using a third-party guarantee to protect the capital invested in a mudharabah agreement. (A)</p> Signup and view all the answers

<p>BBMYS is considered a specific application of <code>Thaman al-Mithl</code> in the context of future market prices. (C)</p> Signup and view all the answers

<p>The lack of any widespread opposition to the principle reflects its general acceptance as a facilitating mechanism in Islamic societies. (C)</p> Signup and view all the answers

<p>The widespread usage of BBMYS in modern economies as a means to secure future financial commitments. (A)</p> Signup and view all the answers

A methodology involving examination of general dalil related to hukm.

Introducing a new approach combining multiple opinions of a mazhab.

A partnership contract allowing gradual ownership transfer of an asset.

A sale contract allowing deferred payment for goods or services.

Islamic financial certificates similar to bonds.

A market for trading financial instruments in accordance with Islamic law.

An agreement between individuals or entities to manage a business together.

The availability of liquid assets to a company for meeting immediate and short-term obligations.

A method of selling where sellers attract buyers who bid to offer the highest price, similar to an auction.

The acceptance of bai` muzayadah as allowed under Islamic law, established by the Shariah Advisory Council.

The Islamic economic system that governs transactions and social relations among people.

Practices or reports based on the actions or sayings of the Prophet Muhammad's companions.

An Islamic scholar known for compiling hadith and writing about bai` muzayadah.

The practice of buying and selling assets based on price movements, permitted under certain Shariah conditions.

An established trading method among early Muslim communities, evidenced by debates among jurists.

The competitive nature of buyers in the bidding process enhances the price for sellers.

A principle in buying and selling pertaining to price fixing contracts.

Ignorance regarding the price or terms of a contract.

An Islamic jurist who permitted Bai Bima Yanqati Bihi Si`r.

A contract accepted by some jurists allowing price adjustments over time.

A method of legal reasoning by analogy in Islamic jurisprudence.

The concept of market price in transactions.

A partnership where one party provides capital and the other expertise.

Decision-making body that permits certain financial practices in Islam.