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Islamic Finance Chapter 1 Part 1 Flashcards | StudBud
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Islamic Finance Chapter 1 Part 1
Muamalat is ___________
What Is The First Source Of The Shari'ah ?
Islamic Finance Chapter 1 Part 1
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1
What Is The First Source Of The Shari'ah ?
Fatwah
Sunnah
Hadith
Quran
2
Muamalat is ___________
Concession Transactions
Civil Transactions
Political Transactions
Financial Transactions
3
Which Bank Was The First Modern-Day Trial Of Islamic banking”)
Machu Pichu Bank Of Islam
King Cross Islamic Bank
Islamic Development Bank
Mit Ghamr Local Savings Bank
4
What Was The First Fully-Fledged Islamic World Commercial Bank That Opened In 1975?
Dubai Islamic Bank
Qatar Islamic Bank
King Jafar Islamic Bank
Pakistan National Islamic Bank
5
What Are The Functions Of The Islamic Development BanK?
To Establish And Operate Special Funds For Specific Purposes
To Provide Financial Assistance To Member Countries
To Accept Deposits And Mobilize Financial Resources Through Sharī’ah Modes
To participate in equity capital and to grant loans
6
What Are The Primary Sources Of The Shariah?
Qur’an and Hadith
Qur’an and Kitab al-Kāfī
Qur’an and Sunnah
Qur’an and Shia
7
The rent of an asset or hire purchase where a rental fee is paid for a stipulated period of time mutually agreed Parties
Renting Mode
Borrowing Mode
Release Mode
Leasing Modes
8
What Is The Term That Is Based On profit-and-loss sharing ?
Al qard Al hasan
Salam
Shirkah
Sarf
9
What Is The Second Primary Source Of The Shari'ah ?
Quran
Fatwah
Sunnah
Textbook Of Islamic Practices
10
In shari’ah, A Waqf Is A Voluntary Irrevocable Dedication Of A Portion Of Your Wealth That Belongs To Allah
True
False
11
The History Of Islamic Finance Is Divided Into What Two General Aspects ?
Modern Islamic Financial Theory
The Early Days Transactions
The Modern-Day Experiments
Era Of The Caliphate
12
What Is The Term That Is Based On Leasing ?
Ijarah
Jinza
Jarha
Alaiqtirad
13
Key Operating Mechanisms Of Islamic Banking And Finance Industry Include What?
Murabaha, and Takaful
Management Of Cash outflows, Cash Inflows
Fund Mobilization, Fund Utilization
Riba, Gharar
14
What Is The Term That Is Based On benevolent loan ?
Sarf
Ijarah
Salam
Al qard Al hasan
15
What Was The Name Of Kuwait's First Islamic Bank?
Kuwait International Bank
Kuwait Finance House
Boubyan Bank
Warba Bank
16
What Is The Term That Is Based On A Forward Contract (Contract Paid In Full In Advance)
Saqafah
Ishbilia
Saqrama
Salam
17
The Basis Of Islamic Finance Is Islamic Law, Which Is Also Known As The
Shari’ah
False
True
18
What Is The Term That Is Based On Exchange Of Money i.e. Gold For Gold And Silver For Silver At The Same Sitting ?
badil
Sarf
Tabadal
Ijarah
19
When Did Islamic Finance Emerge In The Financial Industry?
1990's
1970's
1980's
1960's
20
According To IFSI Islamic Banking Products Are Now Offered Across All Six Habitable Continents Of The World.
False
True
21
Despite Kuwait's Relatively Small Size, It ranks _________ globally in terms of total Sharia-compliant assets.
Third
Fourth
Second
Fifth
22
What Does The Term Takaful Mean?
Islamic Trust fund
Islamic Binance
Islamic Insurance
Islamic Healthcare
23
Which Bank holds the top spot in S&P Global Market Intelligence's ranking of the largest Islamic banks in the GCC?
Arab National Bank
Saudi National Bank
Riyad Bank
Al-Rajhi Bank
24
When Did Kuwait Finance House First Establish?
5th July 1979
23rd March 1977
15th October 1975
2nd December 1973
25
What Mode In Fund Utilization Is A Partnership Where Parties Share Profits Or Loss
Loyalty Mode
Sharing Mode
Partner Mode
Cooperation Mode
26
During The Advent Of Islam In The Arab Region, The Existing Mediums Of Exchange Were Dinar (Gold) And Dirham (Silver).
True
False
27
What Falls Into The Category Of Ibadah?
The Six Beliefs
Belief That Jews Are The Chosen People
Five Pillars Of Islam
Belief In The Resurrection Of Jesus
28
Ibadah is __________
Faith and Rituals
Worship and Prayer
Defiance
Worship and Devotional practices
29
What Does Islamic Finance Prohibit?
Prohibits Cheating and Corrupt Practices In The Management Of Funds
Excessive Risk or Uncertainty (gharar)
Usary or Interest (riba)
Does Not Allow Dealings In Prohibited Products
30
The Mode Where A bank purchases an item on behalf the client and resells it to them on a deferred basis or immediately
Sale Mode
Return Mode
Service Mode
Purchase Mode
31
The Fundamentals Of Islamic Banking Are
Lucrative
Interest-Free
Asset-Based And Asset-Backed
Ethical
32
What Are The Three Categories That Fall Into Mu'amalat?
Salah, Zakat, Sawm Activities
Gharar, Tazkia, Majanaba Activities
Political, Social, and Economic Activites
Virtue, Charity, Love Activities
33
Which Entity In Kuwait Supervises The Business Activities Of Islamic Banks?
Boursa Kuwait
Ministry Of Finance
National Assembly
Central Bank of Kuwait
34
What Does The Term Sukuk Mean?
Islamic Stock
Islamic Bonds
Islamic Note Receivable
Fair And Ethical Trade
35
What is The Central Ruling Body Of Islamic Banking And Finance
International Islamic Fiqh Academy
Islamic Body Of Laws And Practice
Global Islamic School Of Talim
The Islamic Association Of Fair Trade