The Quran explicitly prohibits Riba in which Surah?
A) Surah Al-Baqarah
B) Surah Al-Mulk
C) Surah Al-Fatiha
D) Surah Al-Ikhlas
What does the term “Riba” mean in Islamic finance?
A) Charity
B) Usury or interest
C) Business profit
D) Investment
Which Hadith collection mentions the strict prohibition of Riba?
A) Sahih Bukhari
B) Sunan Abu Dawood
C) Sahih Muslim
D) All of the above
What is the punishment for engaging in Riba according to the Quran?
A) Forgiveness after repentance
B) A declaration of war from Allah and His Messenger
C) Payment of a heavy fine
D) Expulsion from the Muslim community
Which Islamic economic principle is an alternative to Riba-based transactions?
A) Zakat
B) Mudarabah
C) Gharar
D) Gambling
In Islamic finance, what is the preferred mode of profit-sharing?
A) Riba-based loans
B) Mudarabah and Musharakah
C) Fixed interest schemes
D) Lottery-based income
What is the primary reason for the prohibition of Riba in Islam?
A) It leads to unfair wealth accumulation
B) It benefits the poor
C) It encourages economic equality
D) It is a form of charity
Which Islamic scholar played a significant role in defining the prohibition of Riba?
A) Ibn Taymiyyah
B) Imam Ghazali
C) Imam Bukhari
D) Both A and B
Which modern financial practice is closest to Riba?
A) Interest-based banking
B) Islamic finance
C) Equity investment
D) Profit-sharing
Which verse of Surah Al-Baqarah explicitly warns against Riba?
A) 2:275-279
B) 2:183
C) 2:110
D) 2:255
What does Islam encourage instead of Riba?
A) Giving loans with fixed interest
B) Wealth accumulation through interest
C) Trade and risk-sharing investments
D) Lottery-based gains
Which type of Riba refers to excessive interest in loan agreements?
A) Riba al-Fadl
B) Riba al-Nasi’ah
C) Riba al-Murabaha
D) Riba al-Musharakah
Which type of Riba deals with unfair exchange in trade transactions?
A) Riba al-Nasi’ah
B) Riba al-Fadl
C) Riba al-Qard
D) Riba al-Wadi’ah
Which financial institution follows Islamic laws to avoid Riba?
A) Conventional banks
B) Stock exchanges
C) Islamic banks
D) Microfinance companies
Which Islamic economic principle promotes risk-sharing rather than Riba?
A) Gharar
B) Mudarabah
C) Qimar
D) Riba al-Nasi’ah
The Prophet Muhammad (PBUH) described Riba as having how many types?
A) 2
B) 3
C) 5
D) 7
How does Riba negatively impact society?
A) Creates wealth inequality
B) Benefits the rich only
C) Exploits the poor
D) All of the above
Which country has implemented an Islamic banking system to avoid Riba?
A) USA
B) Pakistan
C) Japan
D) Brazil
Which Islamic term means “legitimate profit” as opposed to Riba?
A) Gharar
B) Halal earnings
C) Mudarabah
D) Riba al-Fadl
How does Riba contradict Islamic financial principles?
A) It creates a debt-based economy
B) It promotes exploitation
C) It discourages fair trade
D) All of the above
Who introduced the first Islamic bank to eliminate Riba?
A) Prophet Muhammad (PBUH)
B) Dr. Ahmad El-Naggar
C) Ibn Khaldun
D) Muhammad Abduh
Which Islamic term means “unethical uncertainty” in financial transactions?
A) Qimar
B) Gharar
C) Riba al-Fadl
D) Musharakah
What does Islam say about those who consume Riba?
A) They will be forgiven
B) They will be at war with Allah and His Messenger
C) They will be rewarded
D) They are encouraged to invest more
Which financial model is based on Islamic principles and free from Riba?
A) Fixed-interest banking
B) Islamic banking
C) Loan-based finance
D) Credit card finance
What is the Islamic alternative to conventional loans with interest?
A) Mudarabah and Musharakah
B) Lottery schemes
C) Stock trading with speculation
D) Mortgage-based lending
Which economic system is closest to Islamic finance?
A) Capitalism
B) Communism
C) Free-market economy with ethical regulations
D) Interest-based economy
What is one key goal of Islamic finance?
A) Maximizing profit through interest
B) Wealth accumulation for elites
C) Ethical and fair financial transactions
D) Supporting Riba-based loans
Why does Islamic finance prohibit speculative transactions?
A) They are unfair and cause instability
B) They ensure guaranteed profits
C) They support interest-based systems
D) They allow wealth accumulation
What is the main ethical concern regarding Riba?
A) It benefits only the wealthy
B) It exploits the poor
C) It creates financial inequality
D) All of the above
