Islamic Banking Ethics
2 months ago
alfatih7_14952
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10 QuestionsShow answers
  • Question 1
    30 seconds
    Q.

    What is the core of Islamic Banking and Finance?

    answer choices

    Shari'ah or Islamic Law

    The religion of Islam

    Morality and Ethics

    All of the above are correct answers

  • Question 2
    30 seconds
    Q.

    Which is the correct definition of ethics?

    answer choices

    Ethics are a set of moral principles which determine behavior

    Ethics are norms, values and beliefs embedded in social processes which define right and wrong for an individual or a community

    Ethics is a branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct

    All of the above answers are correct answers

  • Question 3
    30 seconds
    Q.

    Which element(s) in Archie Carroll's CSR pyramid are different if based on the Islamic version of CSR?

    answer choices

    Economic Responsibility

    Social Responsibility

    Ethical and Philanthropic Responsibility

    Economic and Social Responsibility

  • Question 4
    30 seconds
    Q.

    Islamic business ethics can be categorized into which type of ethical theory?

    answer choices

    Consequentialist Ethics

    Non-consequentialist Ethics

    Neither

  • Question 5
    30 seconds
    Q.

    What happened in the Enron scandal?

    answer choices

    Culture of deception, self-interest, & lack integrity leading to bankruptcy of Enron and dissolution of Arthur Andersen

    Auditor deficiency of Arthur Andersen leading to its bankruptcy

    Money-laundering of Enron officials leading to their arrest

    None of the above are correct answers

  • Question 6
    30 seconds
    Q.

    Your colleague goes to work on a Sunday using a Leicester city football kit under his work suit because they had just won the Champions League. This is an example of a lack of:

    answer choices

    Professional behaviour

    Integrity

    Objectivity

    Due care

  • Question 7
    30 seconds
    Q.

    A new joiner in your bank works in a newly established FinTech division despite having no background and experience, but is expected to be a very fast learner. This is a lack of:

    answer choices

    Professional behaviour

    Professional & technical competence

    Objectivity

    Integrity

  • Question 8
    30 seconds
    Q.

    Which of the following is not a source of Islamic Ethics?

    answer choices

    Al-Quran

    Qiyas

    Sad Al Dhariah

    Riba & Gharar

  • Question 9
    30 seconds
    Q.

    The AAOIFI code of ethics is specifically intended for:

    answer choices

    Accountants working for Islamic financial institutions

    Auditors working for Islamic financial institutions

    Employees of Islamic financial institutions

    All of the above are correct answers

  • Question 10
    30 seconds
    Q.

    Why are Islamic business ethics and corporate social responsibility important in Islamic banking operations?

    answer choices

    Because they are considered as key foundations and principles for Islamic finance and its philosophy

    Because it is a trend that needs to be followed in order to remain relevant and be sustainable

    Because it is necessary to do in order to gain profits through a solid foundation of a good corporate image

    Because it is the right to do

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