2nd Year Principles of Banking Chapter 15 TestIslamic Banking

Q1. Multiple choice questions (Attempt all · 10 × 1 = 10)

1. When was the process of Islamization of banking started in Pakistan?

   1. 1977

   2. 1980

   3. 1982

   4. 1985

2. When interest free banking started in Pakistan:

   1. 1st January 1971

   2. 1st January 1975

   3. 1st January 1981

   4. 1st July 1984

3. Which of the following accounts was introduced by the government of Pakistan in 1st January 1981:

   1. Saving account

   2. Profit and loss sharing saving account

   3. Profit and loss sharing term deposit account

   4. Current account

4. Islamic Bank allow on deposits:

   1. Profit

   2. Interest

   3. Commission

   4. Dividend

5. A Modarba may be for:

   1. Specific or multi purpose

   2. Perpetual

   3. Specific period

   4. All the above

6. Riba is the word of following language:

   1. Urdu

   2. Arabic

   3. English

   4. French

7. IDB provides finance to:

   1. All countries

   2. Asian countries

   3. European countries

   4. Member Muslim countries

8. The currency unit of the capital of IDB is:

   1. Riayl

   2. Dollar

   3. Dinar

   4. None of these

9. Islamic development bank was established:

   1. 1947

   2. 1972

   3. 1974

   4. 1975

10. The head office of IBD is in:

    1. Jaddah

    2. Islamabad

    3. Thehran

    4. Dubai