Answered: QUESTION NINE The best statement that…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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QUESTION NINE

The best statement that explains the differences between Islamic and conventional bank is

A ) in the modern banking system, it has become one of the service-oriented functions of all banks to pay out zakat as their social responsibility.

B ) Islamic bank promotes risk-sharing between the provider of capital and the user of funds. In contrast, the fund provider of the conventional bank is assured of a predetermined rate of interest.

C ) both conventional and Islamic banks aim to maximize profit but are subject to different restrictions.

D ) the functions and operating modes of Islamic banks are based on Shari’ah and manmade principles.

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