Which of the following statements about Islamic banking is not true? a. Interest (known as Riba) is

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Which of the following statements about Islamic banking is not true?

a. Interest (known as Riba) is prohibited.

b. Conventional interest is considered by scholars to result in inequality and injustice in society.

c. Trading-based and risk-sharing transactions are impermissible.

d. Speculation-based transactions are considered to be unfair.

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Related Book For answer-question

Financial Reporting For Islamic Financial Institutions Accounting Standards Interpretation And Application

ISBN: 9781032464022

1st Edition

Authors: Abdul Rauf Mahar, Ayesha Bhatti, Muhammad Junaid Ashraf, Asfand Zubair Malik

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Question Posted: Mar 11, 2024 03:33 AM

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Which of the following statements about Islamic banking is not true? a. Interest (known as Riba) is

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Financial Reporting For Islamic Financial Institutions Accounting Standards Interpretation And Application

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