Question: In Islam, any commodity which is non-existent or non-deliverable is allowed to be transacted. Islam discourages the spirit of love and brotherhood between employer and
| | In Islam, any commodity which is non-existent or non-deliverable is allowed to be transacted. |
| | Islam discourages the spirit of love and brotherhood between employer and employee. |
| | Sighah is the offering and accepting contract done through several ways |
| | Islamic investments are a unique form of socially responsible investments because Islam makes no division between the spiritual and secular |
| | The term that is normally used when referring to investment is Murabahah. |
| | There must a guarantee of profits based on the capital invested because it involves riba. |
| | Gharar refers to an unknown factor that would impair the validity of a contract |
| | Since it is free from risk and value-addition, Islam does recognize wealth creation through riba as a legitimate way of making a living. |
| | From the language perspective, the word riba means excess, increase, expansion and growth |
| | Interest and usury both are taken as synonymous for the Arabic word riba |
| | In the Shariah, riba technically refers to the premium that must be paid by the borrower to the lender along with the principal amount as a condition of the loan or for an extension in its maturity. |
| | What is generally understood in our times as the giving of a principal amount on loan for a given period against the payment of riba in percentage terms on a monthly or annual basis is Riba al-Nasiah. |
| | According to the Prophet Muhammad SAW, 9/10 sources of income for a human comes from doing or dealing in business. |
| | Islam recognizes trade and commerce not only as a lawful profession but also as a moral duty. |
Please write A for the true statement and B for the false stamement in your ANSWERING SHEET.
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