Which of the following is the principal guideline to be followed in Islamic Banking?

A Banking Act 1990
B Murabahah law
C Riba law
D Shariah law

Correct Answer: Shariah law

Islamic banking or Islamic finance or sharia - compliant finance[1] is banking or financing activity that complies with sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic banking/finance include Mudarabah (profit - sharing and loss - bearing), Wadiah (safekeeping), Musharaka (joint venture), Murabahah (cost - plus), and Ijara (leasing).
Bissoy MCQ
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Related Questions

Defining green banking is relatively easy. It means promoting environment -friendly practices and reducing your carbon footprint from your banking activities. This comes in many forms : using online banking instead of branch banking; paying bills online, opening up CDs (certificates of deposit) and money market accounts at online banks instead of large multi-branch banks. A green bank takes the biggest steps to support local green initiatives. Any combination of the above personal banking practices can help the environment. In this respect, online banks and smaller community banks have better track records than larger banks .However, these larger banks may be induced to go green . According to the passage, larger, multi -branch banks .
A can never become green banks .
B can become green banks if they reduce the number of branches and eliminate the use of paper .
C can become green banks if they can greatly reduce or eliminate carbon footprint form their banking activities.
D can become green banks if they support local green initiatives
In the following sentence the word principal' occurs three times "The principal (1) aim of the principal (2) of the college was to help build new roads to link the area's principal (3)schools" Indicate the use(s) in which the meaning of the word “Principal is ‘chief or main',
A Use (1)
B Use(2)
C Use (3)
D Both (1) & (3)
OIC changed its name from Organization of the Islamic Conference to Organization of Islamic Cooperation in -
A 1991
B 2011
C 2001
D 1999
Which of the following account (s) can the customers open with Dhaka Bank's Islamic Banking Branches?
A Mudaraba Term Deposit Account
B Mudaraba Special Notice Account
C Mudaraba Hajj Savings Account
D All of these
Dhaka Bank Ltd. started to provide Islamic banking services in the year ----
A 2006
B 2003
C 2009
D 1999
In Islamic Banking the customers are considered as -----and thus entitled to profit sharing.
A partners
B employees
C creditors
D outsiders
When did the Islamic Banking system emerge in Bangladesh ?
A 1987
B 1983
C 1985
D 1984
What is name of Islamic Banking Wing of HSBC in Bangladesh?
A Saadiq
B Al Arafah
C Amanah
D Mudaraha
In Islamic Banking, what does 'IBS' stand for?
A International board of Savings
B Islamic Banking Scheme
C International board of Scheme
D Islamic Board of Savings
What is defined as the investment of loan or principal which is based not only on the original amount of the loan or principal but the amount of loaned or principal plus the previous accumulated interest?
A Effective rate of interest
B Nominal rate of interest
C Compound interest
D Simple interest

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