MCQs on Islamic Financial Institutions - 2

1. An Ordinance was propagates to permit establishment of

a. mudaraba companies 
b. musharika companies
c. murabah companies 
d. all of answers are correct

Answer (a)

2. Negotiation of a selling price among two parties exclusive of reference by seller to
either costs or asking price is

a. ijarah wa iqtna 
b. ijarah
c. musawamah 
d. musharika

Answer (c)

3. What is the most widely used Islamic mode of financing in asset side operation of
Islamic banks?

a. Murabaha 
b. Ijarah
c. Salam 
d. Diminishing musharakah

Answer (a)

4. The following items are major components of Islamic banking and finance except

a. Islamic banking 
b. Takaful (insurance)
c. Stock exchange 
d. Capital market

Answer (c)

5. Islamic bonds can be rated on the two basis

a. Long term and short term 
b. Sovereign and corporate
c. Public and private 
d. None of the above

Answer (d)

6. Earliest Islamic bank was established in Malaysia in

a. 1980 
b. 1983
c. 1982 
d. 1988

Answer (b)

7. A type of partnership where one party offer funds while other gives expertise and
management is

a. murabaha 
b. musharika
c. ijarah 
d. mudarabah

Answer (d)

8. Shirkat-ul-wujooh has its origin in Arabic word

a. wajahat 
b. wajahee
c. waujooh 
d. wajhee

Answer (a)

9. Word Musharika is originated from the

a. latin word 
b. arabic word
c. persian word 
d. french word

Answer (b)

10. International bodies dedicated to enhancing Islamic finance industry include

a. the international financial Islamic financial market
b. Islamic financial service board
c. Accounting and auditing organization for Islamic financial institutions
d. All of the above

Answer (d)


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