BANKING GENERAL KNOWLEDGE
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Maulana Syed Abul Ala Mawdudi
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Imam Muhammad Baqir al-Sadr
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Dr Ahmad al-Najjar
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Dr Syed Basr
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Detailed explanation-1: -The Islamic Financial Services Board (IFSB, 2005) recognises six major types of risks: credit risk, equity investment risk, market risk, liquidity risk, rate of return risk, and operational risk.
Detailed explanation-2: -Islamic banking refers to a system of banking that complies with Islamic law also known as Shariah law. The underlying principles that govern Islamic banking are mutual risk and profit sharing between parties, the assurance of fairness for all and that transactions are based on an underlying business activity or asset.
Detailed explanation-3: -1 How Islamic financial instruments can be used in international trade? 3 Can Sharia board play a role in the development of Islamic instruments? 5 Risk management framework for Islamic banks: do we need something special? 6 Have the challenges faced by Islamic banks changed over the last decade?