IFS2

What are the objectives of investment In Tabung Haji?

• To deliver sustainable and competitive returns to the

  depositors from capital gains and dividends at reasonable

  risk level that commensurate with prevailing market

  conditions.

• Invest in permissible investment, prudent and safe in order

  to provide returns that are comparable to the market, while

  ensuring continuous growth

• To maximize capital gains and dividends, regardless of the prevailing market conditions

• to prioritize growth over safety and invest in high-risk assets.

What are the key characteristics of the Employees Provident Fund (EPF) and Kumpulan Wang Persaraan (KWAP) in Malaysia?

• EPF manages compulsory savings and retirement planning for private sector workers, while KWAP is a pension fund established under the Retirement Fund Act 2007.

• EPF is a voluntary savings plan for Malaysian citizens, while KWAP is mandatory for private sector workers.

The main function of the Social Security Organisation (SOCSO) in Malaysia is to provide social security protection to employees and their dependents through the Employment Injury Scheme and the Invalidity Scheme

• TRUE

• FALSE

What are the CONCEPT of Qardhul Hasan, Ar-Rahnu, Al-Wadi'ah, and Al-Ujrah in Ar-Rahnu?

• Qardhul Hasan allows borrowers to repay only the borrowed amount,

• Ar-Rahnu and Al-Wadi’ah: the borrower is required to

  place a valuable asset as collateral to get a loan and to

  ensure repayment (like a mortgage housing loan)

• Al-Ujrah allows lenders to charge a fee for safekeeping

• Qardhul Hasan requires borrowers to place a valuable asset as collateral

Why did the Shariah Advisory Council (SAC) of Bank Negara Malaysia (BNM) deem the existing Ar-Rahnu product non-compliant and recommend its replacement?

• The SAC found issues of bay' wa salaf in the existing Ar-Rahnu product, which made it non-compliant with Shariah principles. To address this, the SAC recommended the use of Tawarruq and Rahn as alternatives.

• The SAC identified gharar (uncertainty) in the Ar-Rahnu product, which rendered it non-compliant. To address this, they advised the adoption of Tawarruq and Rahn as replacements.

In the development of the Ar-Rahnu product, the charging of profit can be structured using by the ujrah and tawarruq model. But, currently ar-rahnu product use tawarruq model not ujrah model.

• TRUE

• FALSE