A Major Distinction Between a Conventional Bank and an Islamic

question 7

Multiple Choice

A major distinction between a conventional bank and an Islamic bank is that Islamic banks

• A) are allowed to charge higher interest rates on loans.
• B) cannot accept private deposit.
• C) cannot pay or charge interest.
• D) are not subject to any form of law.
• E) are supposed to refrain from making a profit through any source.

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Definitions:

United Kingdom

A nation with sovereignty positioned to the northwest of mainland Europe, consisting of England, Scotland, Wales, and Northern Ireland.

Real GDP

Gross Domestic Product adjusted for inflation, providing a measure of the value of goods and services produced in a country using constant prices.

Growth Rates

The measure of the increase in the amount, value, or size of something (such as GDP, population, etc.) over a specific period of time.

Real GDP

The measure of a country's economic output adjusted for price changes, reflecting the true value of goods and services produced over a specific period.