McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Islamic History .
| 151. |
Raghuram Rajan Report was released on the year: |
| A. | 2000 |
| B. | 2004 |
| C. | 2005 |
| D. | 2008 |
| Answer» D. 2008 | |
| 152. |
Malaysia’s first Islamic based investment product was: |
| A. | Amanah |
| B. | Musharaka |
| C. | Wakalah |
| D. | None of the above |
| Answer» A. Amanah | |
| 153. |
Musaqat is the agricultural contract especially for : |
| A. | land |
| B. | metal |
| C. | trees |
| D. | water resources |
| Answer» C. trees | |
| 154. |
The Bank of Esteqrazi was based on : |
| A. | Sudan |
| B. | Iran |
| C. | Malaysia |
| D. | Indonesia |
| Answer» B. Iran | |
| 155. |
Bank Melli of Iran was established on: |
| A. | 1920 |
| B. | 1923 |
| C. | 1925 |
| D. | 1927 |
| Answer» B. 1923 | |
| 156. |
The Central Bank of Iran was established on: |
| A. | 1920 |
| B. | 1923 |
| C. | 1925 |
| D. | 1927 |
| Answer» D. 1927 | |
| 157. |
In Iran, the law of usury free banking was passed on: |
| A. | 1981 |
| B. | 1982 |
| C. | 1983 |
| D. | 1984 |
| Answer» C. 1983 | |
| 158. |
The Muslim scholar who can be considered as the father of economics was: |
| A. | Ibn Taymiyyah |
| B. | Ibn Khladun |
| C. | Al-Ghazzali |
| D. | Abu Yusuf |
| Answer» B. Ibn Khladun | |
| 159. |
The author of Kitab ul-kheraj was: |
| A. | Al-Baladhuri |
| B. | Ibn Khaldun |
| C. | Al-Ghazzali |
| D. | Abu Yusuf |
| Answer» D. Abu Yusuf | |
| 160. |
In Islam, the bargaining on price is called : |
| A. | Istisnaa |
| B. | Sukuk |
| C. | Musawamah |
| D. | none of the above |
| Answer» C. Musawamah | |
| 161. |
Al-Rajhi Bank is based on: |
| A. | Pakistan |
| B. | Iran |
| C. | Malaysia |
| D. | Saudi Arabia |
| Answer» D. Saudi Arabia | |
| 162. |
The head Office of Al-Rajhi Bank is located in: |
| A. | Lahore |
| B. | Doha |
| C. | Riyadh |
| D. | Abu Dhabi |
| Answer» C. Riyadh | |
| 163. |
Which among the following is not a part of Waqf: |
| A. | Religious Waqf |
| B. | Philanthropic Waqf |
| C. | Family Waqf |
| D. | Banking Waqf |
| Answer» D. Banking Waqf | |
| 164. |
AAOIFI is based in: |
| A. | Oman |
| B. | Bahrain |
| C. | Saudi Arabia |
| D. | Malaysia |
| Answer» B. Bahrain | |
| 165. |
AAOIFI was established on: |
| A. | 1990 |
| B. | 1991 |
| C. | 1992 |
| D. | 1993 |
| Answer» B. 1991 | |
| 166. |
AAOIFI mainly prepares: |
| A. | Accounting |
| B. | auditing |
| C. | Governance |
| D. | all of the above |
| Answer» D. all of the above | |
| 167. |
Bank Islam Malaysia started its operation on: |
| A. | 1983 |
| B. | 1984 |
| C. | 1985 |
| D. | 1986 |
| Answer» A. 1983 | |
| 168. |
Pakistan’s first and largest Islamic Bank is: |
| A. | Meezan |
| B. | Al-Baraka |
| C. | Al-Falah |
| D. | None of the above |
| Answer» A. Meezan | |
| 169. |
LARIBA is based on: |
| A. | Malaysia |
| B. | America |
| C. | Singapore |
| D. | UK |
| Answer» B. America | |
| 170. |
Al-Baraka is based on: |
| A. | Singapore |
| B. | Pakistan |
| C. | Saudi Arabia |
| D. | Bahrain |
| Answer» B. Pakistan | |
| 171. |
The institution for the socio-economic welfare of Muslim Society is: |
| A. | Zakat |
| B. | Sadaqah |
| C. | Waqf |
| D. | Khair |
| Answer» C. Waqf | |
| 172. |
The economic system in which transactions between private parties are free from government intervention is called: |
| A. | Amanah |
| B. | Wadiah |
| C. | Laizze Faire |
| D. | None of the above |
| Answer» C. Laizze Faire | |
| 173. |
The importance of the role of labour in the creation of wealth was underlined by: |
| A. | Al-Ghazzali |
| B. | In Taymiyyah |
| C. | Ibn Khaldun |
| D. | All of the above |
| Answer» D. All of the above | |
| 174. |
Which Muslim scholars emphasized on the necessity of establishing economic cooperation between the different parties of a society : |
| A. | Ibn al-Qayyim |
| B. | Ibn Taymiyyah |
| C. | Ibn Khaldun |
| D. | Abu Yusuf |
| Answer» A. Ibn al-Qayyim | |
| 175. |
Who among the following is credited to analyse first on the concepts of labour, value and the division of labour: |
| A. | Ibn Taymiyyah |
| B. | Ibn Khaldun |
| C. | David Recardo |
| D. | Karl Marx |
| Answer» B. Ibn Khaldun | |
| 176. |
Which among the following scholars used the treatment of utility as a scientific tool of analysis: |
| A. | Al-Ghazzali |
| B. | Ibn Taymiyyah |
| C. | Al-Shatibi |
| D. | All of the above |
| Answer» D. All of the above | |
| 177. |
Who among the following described on the qualities of Muhtasib: |
| A. | Abu Yusuf |
| B. | Al-Ghazzali |
| C. | Nizam ul-Mulk Tusi |
| D. | Ibn Khaldun |
| Answer» B. Al-Ghazzali | |
| 178. |
The principles of Islamic world view of economics is/are : |
| A. | trusteeship lies in Allah |
| B. | giving Zakat |
| C. | prohibition of Riba and Gharar |
| D. | All of the above |
| Answer» D. All of the above | |
| 179. |
Which among the following is associated with Waqf : |
| A. | Waqif |
| B. | Mutawillis |
| C. | Qadi |
| D. | All of the above |
| Answer» D. All of the above | |
| 180. |
Bijak, a form of credit was issued by: |
| A. | Meezan Bank |
| B. | Faisal Islamic Bank |
| C. | Bank Shahanshahi |
| D. | None of the above |
| Answer» C. Bank Shahanshahi | |
| 181. |
Which among the following Bank is not situated in Iran: |
| A. | Imperial bank |
| B. | New East Bank |
| C. | Bank of Estegrazi |
| D. | Faisal Islamic bank |
| Answer» D. Faisal Islamic bank | |
| 182. |
The Sudan Currency Board was established on: |
| A. | 1959 |
| B. | 1961 |
| C. | 1963 |
| D. | 1966 |
| Answer» A. 1959 | |
| 183. |
The new Sudanese Currency was issued on: |
| A. | 1959 |
| B. | 1961 |
| C. | 1963 |
| D. | 1966 |
| Answer» A. 1959 | |
| 184. |
The entire commercial banking sector was nationalized in Sudan on: |
| A. | 1961 |
| B. | 1970 |
| C. | 1975 |
| D. | 1980 |
| Answer» B. 1970 | |
| 185. |
The fine paid by a person for having committed an act prohibited by Allah is called: |
| A. | Kaffarath |
| B. | Nafaqath |
| C. | Ghanimah |
| D. | Fay |
| Answer» A. Kaffarath | |
| 186. |
The term refers the law of inheritance is: |
| A. | Kaffarath |
| B. | Wirathat |
| C. | Nafaqath |
| D. | Fay |
| Answer» B. Wirathat | |
| 187. |
The term refers to the religious obligation of any Muslims to pay one-fifth of their acquired wealth from certain sources is called: |
| A. | Ghanima |
| B. | Khums |
| C. | Wirathat |
| D. | Fay |
| Answer» B. Khums | |
| 188. |
Which among the following is not included in Khums tax: |
| A. | Ghanima |
| B. | Treasure |
| C. | Zakat |
| D. | Mineral resources |
| Answer» C. Zakat | |
| 189. |
Ghanima is: |
| A. | poll tax |
| B. | booty seized with war |
| C. | tax for mineral resources |
| D. | land tax |
| Answer» B. booty seized with war | |
| 190. |
Khums is generally applies: |
| A. | 1/2 |
| B. | 1/3 |
| C. | 1/4 |
| D. | 1/5 |
| Answer» D. 1/5 | |
| 191. |
The first UK Islamic Bank is: |
| A. | Al-Baraka international |
| B. | The imperial Bank |
| C. | Bank of London |
| D. | None of the above |
| Answer» A. Al-Baraka international | |
| 192. |
The Sukuk market started in UK on |
| A. | 2000 |
| B. | 2002 |
| C. | 2007 |
| D. | 2009 |
| Answer» C. 2007 | |
| 193. |
First western government issue sovereign sukuk is: |
| A. | US |
| B. | UK |
| C. | Germany |
| D. | France |
| Answer» C. Germany | |
| 194. |
The number of fully Sharia-complaint bank in UK is: |
| A. | three |
| B. | five |
| C. | seven |
| D. | nine |
| Answer» B. five | |
| 195. |
The mode of transaction introduced in UK with Islamic finance is: |
| A. | Mudaraba |
| B. | Musharaka |
| C. | Murabaha |
| D. | Ijara |
| Answer» C. Murabaha | |
| 196. |
First 100% shariah-complaint bank in USA is: |
| A. | Deron Bank |
| B. | University Bank |
| C. | LARIBA |
| D. | None of the above |
| Answer» B. University Bank | |
| 197. |
LARIBA is a US based: |
| A. | Finance company |
| B. | bank |
| C. | Non-profit organization |
| D. | None of the above |
| Answer» A. Finance company | |
| 198. |
First Islamic Bank in Indonesia: |
| A. | Bank Melli |
| B. | Bank Muamalat |
| C. | Bank Indonesia |
| D. | None of the above |
| Answer» B. Bank Muamalat | |
| 199. |
Bank Muamalat was established in: |
| A. | 1990 |
| B. | 1992 |
| C. | 1994 |
| D. | 1995 |
| Answer» B. 1992 | |
| 200. |
The only Islamic banking institution in France is: |
| A. | Moroccoan Chaabi Bank |
| B. | BNP Paribas |
| C. | Axa Bank |
| D. | None of the above |
| Answer» A. Moroccoan Chaabi Bank | |
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