The Following Statements Regarding the AAOIFI Standards on Islamic Bonds

question 55

Multiple Choice

The following statements regarding the AAOIFI Standards on Islamic Bonds are true EXCEPT:

• A) the standards contain the Sharī'ah rulings and requirements on the different types of sukuk as well as the prevailing practices in the secondary markets
• B) the scope of the investment sukuk is clearly specified with the enumeration of the fourteen types of Sukuk structures Table 7.2 of the textbook.
• C) the AAOIFI investment sukuk standards are extended to shares of stock companies, certificates of funds and investment portfolios
• D) the focus of the standards is the Islamic financial institutions or corporate entities offering Islamic financial services such as sukuk

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Definitions:

Vomer

A thin, flat bone forming part of the nasal septum, which divides the nasal cavity into two nostrils.

Zygomatic

Yoking or joining; bony arch created by the junction of the zygomatic and temporal bones.

Occipital Bone

A cranial bone located at the lower back part of the skull, important for head support and connected to the atlas of the spine.

Cranium

Skull; in a more limited sense, the braincase.