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.

---

Definitions:

Nonconsumption

A deliberate choice or economic condition where individuals or societies choose not to purchase or consume certain goods or services.

British Goods

Products manufactured in the United Kingdom, which may include a wide range of items from clothing to technology.

Economic Boycotts

A form of protest or activism where individuals, groups, or countries refuse to purchase goods or services from a particular company, country, or organization to achieve political or economic objectives.

British Policies

Refers to the laws, regulations, and actions taken by the British government or authorities which can have domestic or international effects.