Islamic finance (22)

What is Islamic finance?

• An unethical financial system

• A financial system based on speculation

• A financial system based on interest

• A financial system that follows the principles of Islamic law

What is usury in Islamic finance?

• Allowed

• Prohibited

• Accepted in some cases

• Unknown

What is Gharar?

• Excessive uncertainty in contractual terms

• Islamic insurance system

• Partnership contract

• A type of investment

What is risk sharing?

• One party bears the risks

• Sharing risks among parties

• Completely avoiding risks

• Increasing financial risks

What is Murabaha?

• Partnership contract

• Sale contract in which the seller discloses the cost of the goods

• Lease contract

• Insurance contract

What is the partnership?

• Sale contract

• Lease contract

• A contract in which all parties share in profits and losses

• A contract in which only one party is guaranteed

What are sukuk?

• Insurance contracts

• Financial certificates representing a share in the ownership of an asset

• Loans with interest

• Sale contracts

What are the challenges facing Islamic finance?

• Lack of standardized criteria

• Product development

• Increasing awareness

• Expanding the scope of financing

What is Islamic insurance?

• Cooperative insurance system

• Interest-based insurance

• Insurance against risks only

• Unethical insurance

What are the main benefits of Islamic finance?

• Increase interest

• Widen the economic gap

• Promote social justice

• Avoid risks