Which of the following describes Hiba?
A) An asset-based investment where the investor owns an interest in an underlying asset in proportion to their investment
B) An Islamic bank buys some form of durable asset and leases it to the customer for a rental payment based on a prearranged schedule
C) An Islamic bank agrees to buy an asset and resell it to the customer on credit
D) A gift given at the banks discretion
Correct Answer:
Verified
Q22: Which of the following describes Murabahah?
A)An asset-based
Q23: The interpretation of Islamic shariah principles is
Q24: Which of the following modes of Islamic
Q25: Ijarah financing is a growing area for
Q26: In 2008 the Islamic banking system was
Q28: The modern Islamic banking movement began with
Q29: To highlight the growing importance of Islamic
Q30: Which of the following is not seen
Q31: Which of the following is true for
Q32: The main reason for Islamic banks suffering
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