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The MCQs below are drawn from the Islamic Studies subject category.
Showing 381–390
of 4445 MCQs
Page 39 / 445
381
What is the meaning of 'Halal profit'?
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Explanation
Halal profit is income obtained through Shariah-compliant trade and effort.
382
Which contract allows deferred delivery but advance payment?
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Explanation
Salam is a forward contract with full payment in advance and deferred delivery.
383
What ensures the legitimacy of profit in Islamic finance?
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Explanation
Profit in Islam is lawful only when earned through risk and productive effort.
384
Which of the following represents a charitable trust in Islam?
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Explanation
Waqf is an endowment made for charitable or religious purposes.
385
What is the role of 'Wakalah' in Islamic banking?
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Explanation
Wakalah refers to agency where an agent is appointed to act in financial transactions.
386
Which principle allows deferred payment sale in Islamic banking?
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Explanation
Bai’ Bithaman Ajil is a sale where payment is deferred but price is fixed in advance.
387
Which organization provides global Shariah standards for Islamic finance?
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Explanation
AAOIFI sets global Shariah and accounting standards for Islamic financial institutions.
388
What type of transaction does Islamic banking avoid?
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Explanation
Islamic finance avoids riba, gharar, and maisir-based transactions.
389
What is the Arabic term for speculation or gambling?
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Explanation
Maisir refers to gambling or speculative behavior, prohibited in Islamic finance.
390
What is the objective of 'Zakat' in Islamic economics?
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Explanation
Zakat redistributes wealth to reduce inequality and purify earnings.
