Which of the Following Statements Regarding the Sharī'ah Board of AAOIFI

question 27

Multiple Choice

Which of the following statements regarding the Sharī'ah Board of AAOIFI is False?

• A) the Sharī`ah board is composed of not more than twenty members
• B) board members are appointed by the board of trustees
• C) board members are appointed for a five year term period
• D) board members are appointed from sharī`ah boards of IFIs who are members of AAOIFI and the Sharī'ah Supervisory Boards of Central Banks

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Definitions:

Tariff

A tax imposed by a government on goods and services imported from another country.

Revenues

The gross income a business earns from its fundamental activities, specifically through selling goods or offering services.

Opportunity Cost

The cost of forfeiting the next best alternative when making a decision to pursue a particular action.

Spain

A country located on the Iberian Peninsula in southwestern Europe, known for its rich history, cultural diversity, and significant contributions to art, literature, and global exploration.