The History of Modern Islamic Finance Started with a Microfinance

question 26

True/False

The history of modern Islamic finance started with a microfinance in the remote village of Mit Ghamr in Egypt back in 1960s.

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Definitions:

Bondholder

An individual or entity that owns a bond issued by a borrower, entitling them to receive interest payments and the return of principal.

Income Tax

Taxes levied by the government on the income generated by businesses and individuals.

Stockholders

Individuals or entities that own shares in a corporation, also commonly referred to as shareholders.

Borrowed Money

Funds that are obtained through loans or credits, which must be repaid with interest.