Which of the following are true with regard to Islamic finance?
A) Interest bearing transactions are allowed only when they do not relate to prohibited activities such as alcohol,or gambling.
B) All interest-bearing transactions are prohibited.
C) Interest can be charged only on mortgages or loans secured on assets such as houses.
D) Interest can only be paid on savings not on loans.
Correct Answer:
Verified
Q13: Which of the following is not true
Q14: What is 'zakat'?
A)An insurance premium charged for
Q15: Which of the following businesses would not
Q16: Which of the following is seen by
Q17: Debt- or Asset-based financing:
A)Is designed so that
Q19: Islamic financial institutions invest according to the
Q20: Which of the following statements are true?
A)Islamic
Q21: A company enters into an Islamic finance
Q22: Which of the following describes Murabahah?
A)An asset-based
Q23: The interpretation of Islamic shariah principles is
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