Monash University Malaysia
School of Business
Department of Accounting and Finance
Bachelor of Business and Commerce
Tutorial 2- ANSWERS
Please treat all the tutorial answers as guidelines to actual answers. You
can build & expand your answers with suitab
Theory of Contract in
1. Define the Islamic theory of contract;
elements of Islamic contracts;
classification of contracts.
2. Evaluate the impact of Islamic law of
contracts on the Islamic banking
Introduction to Islamic
Banking and Finance
Introduction to Islamic Banking
and Finance - BFW1310
Introduction - LECTURE 1
Unit Coordinator: Dr. Mohammed
Islamic Banking is not a new concept.
Can be traced back to the early days of Islam.
Az Zubair ben Al Awwam (circa 620)
entrusted by the public as a keeper of their money and at one time the total dep
Principles of Shariah
in Islamic Banking System
Overview of legal systems and Islamic school of thoughts
Sharia rules reflection on I/B and Fin.
Background of Riba and justification of its prohibition in Sharia.
Tutorial 6 & 7 Financing and other banking facilities
How does Mudarabah differ from Musharakah?
Explain the BBA contract.
Is there another contract in Islamic banking that can be used instead of BBA to
finance the purchase of a house.
Deposit and investment facilities in Islamic banks
1. Where does an Islamic bank get its source of fund?
2. Name and explain the function of the three types of deposit facilities of a conventional
3. Explain the Islamic contracts and conc
Tutorial 3 Principles of Shariah in Islamic Banking
1. List down the main principles of Shariah applicable in Islamic banking.
Riba, Gharar, rishwah, maysir, Qimar, Halal, jahl
2. Define the term riba.
Literally, riba means increase, addition, exp
Tutorial 4 History of Islamic Banking
Explain the role of Mit Ghamr Local Savings Bank in Egypt in the establishment of modern
day Islamic banking.
What was the purpose of setting up the Organisation of Islamic Conferences?
What were the proposals r
1. Why Islamic banking is important?
i. In response to the needs of Muslim community ( Muslim dilemma)
ii. Acts as a catalyst to fill the gap to mobilise funds for productive purposes, in
particular for Muslim communities
iii. Significant avail
Overview of Financial System and Process
Islamic Financial system
Overall Rules Governing Islamic Financial System
Recent Islamic Finance Industry MAP