All of Following Are Organs of the Sharī`ah Governance System

question 5

Multiple Choice

All of following are organs of the sharī`ah governance system EXCEPT:

• A) Islamic Banking Associations
• B) Sharī`ah supervisory board at the micro level
• C) Sharī`ah supervisory council of the central bank at the macro level
• D) internal Sharī`ah compliance unit

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Definitions:

Cash Payment

A financial transaction where an exchange of money occurs to settle a debt or purchase goods or services.

Common Stock

Equities representing ownership interests in a corporation, entitling holders to dividends and voting rights.

General Journal

A comprehensive listing of all a company’s financial transactions, recorded in chronological order.

Cash Investment

Placement of funds into a venture or asset with the expectation of generating income or profit.