The following statements are true regarding the social role of Islamic banks EXCEPT:
A) all classes of people in the society are accommodated within the general sphere of Islamic financing
B) the social dimension of the objectives of Islamic banks is the promotion and support of Small and Medium Enterprises SMEs. to further bridge the gap between the rich and the poor in the society
C) Islamic banks demonstrate their social role through the extension of their credit facilities to big businesses with the aim of having more equitable distribution of wealth amongst all members of society
D) any Islamic microfinance scheme must have the potentiality of providing the poor with reasonable credit facilities to finance their microenterprises
Correct Answer:
Verified
Q104: Differentiate between microfinance and micro-credit.
Q105: Describe how both conventional and Islamic MFIs
Q106: Which of the following statements regarding the
Q107: Why it is often difficult for micro-entrepreneurs
Q108: Identify major differences between banks and MFIs
Q109: Differences between banks and MFIs in the
Q110: Among the differences between Islamic MFIs and
Q111: Discuss briefly the role of 'Grameen-Jameel' credit
Q113: Describe how funds are transferred to beneficiaries
Q114: The institutional sources of credit, such as
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents