BANKER-CUSTOMER RELATIONSHIP

Islamic banking system have a multiple contractual relationship.

• TRUE

• FALSE

Beneficiary is under a fiduciary obligation to administer the trust in the best interest.

• TRUE

• FALSE

(a)   transfers possession but not ownership of a good to another party.

What is the contract use the position of the bank as rabb al mal (the financier) and the mudarib (the investor)

• Qard

• Ijarah

• Mudharabah

• Musyarakah

The islamic bankers duties is to ensure that the sanctity of contract.

• TRUE

• FALSE

Which of the following contract use wadiah (safekeeping) and dhamanah (guarantee)?

• Wadiah

• Wadiah Yad Dhamanah

• Qard

• Tawarruq

Which of the following is TRUE regarding the customer rights?

• Ensure it is shariah approved activity.

• Right to fulfillment of valid contract

• The equity participant

• Right to fair treatment