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MCQs – Islamic Fawrun Term Deposit (RAKBANK). Dr. Ahmad Asad
Quiz by Ahmad Asad
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The Islamic Fawrun Term Deposit account is based on which Shari’ah principle?
In the Wakala structure of the account, the depositor acts as the:
Who is responsible for investing the depositor’s funds in the Wakala arrangement?
When is the expected profit paid in the Fawrun Term Deposit account?
The profit calculation formula in this account is:
What is the minimum deposit amount required for the Fawrun Term Deposit in AED?
What is the minimum deposit amount required for the Fawrun Term Deposit in USD?
What happens in case of early redemption of the deposit?
The minimum tenor for funds to be blocked in this account is:
Under the Wakala structure, who bears the investment loss (unless negligence is proven)?