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This set of Islamic Financial Institutions Multiple Choice Questions & Answers (MCQs) focuses on Islamic Financial Institutions Set 2
Q1 | First Islamic bank was recognized in
- pakistan
- oman
- malaysia
- qatar
Q2 | A joint project or partnership formation with profit/loss contribution implications thatis used in Islamic finance as an alternative of interest-bearing loans is
- ijarah
- musharika
- murabah
- hibah
Q3 | Profit is based on accord of parties, but loss is all time issue to proportion of
- capital
- investment
- work
- a & b
Q4 | A number of Islamic banks were formed to provide to this particular banking market in late
- 20th century
- 19th century
- 18th century
- none of all of these
Q5 | Working capital financing in Musharika is
- liability side financing
- asset side financing
- assets
- liabilities
Q6 | How much etc in Musharika is related to
- quantified
- ma'loom
- specified
- a & b
Q7 | Products of first type may be given to Musharika in capital while second kind of productscannot be a part of capital observation of
- imam maliki
- imam hanafi
- imam shafi
- imam hanabli
Q8 | Islamic banking structure is based on
- risk sharing
- interest sharing
- a & b
- premium sharing
Q9 | An investor and his customer contribute either in shared possession of an assets or equipment,or in a combined commercial venture is
- diminishing musharika
- musharika
- ijarah
- salam
Q10 | Qur'an forbids
- gambling
- interest sharing
- gharar
- all of answers are correct
Q11 | A pioneering attempt, in Shariah compliant investments banking was undertaken in 1963 in
- oman
- saudia arabia
- egypt
- pakistan
Q12 | Giving share of investor to customer on lease is the
- basis of musharika
- basis of diminishing musharika
- basis of ijarah
- basis of hibah
Q13 | The term IDB stands for
- islamic development bond.
- islamic development bank.
- islamic derivatives business.
- islamic document bureau