Quiz 12 - Islamic Banking

The first Islamic bank opened more than 1.000 years ago.

• True

• False

Islamic banking customers do not have to pay interest on money they borrow.

• True

• False

You have to be Muslim to use an Islamic bank.

• True

• False

A shari`ah board must govern the Islamic section of the bank.

• True

• False

Islamic banks cannot invest in companies which sell prohibited food products.

• True

• False

Customers of Islamic banks cannot borrow or lend money.

• True

• False

People who follow the laws of Islamic banking cannot make a profit.

• True

• False

Islamic banks must give part of their profits to help poor people.

• True

• False