Islamic Studies/Islamiat (Competitive Exams) MCQs
Topic Notes: Islamic Studies/Islamiat (Competitive Exams)
<p>MCQs and preparation resources for competitive exams, covering important concepts, past papers, and detailed explanations.</p>
Plato
- Biography: Ancient Greek philosopher (427–347 BCE), student of Socrates and teacher of Aristotle, founder of the Academy in Athens.
- Important Ideas:
- Theory of Forms
- Philosopher-King
- Ideal State
11
What is the Islamic view on economic freedom?
Answer:
Freedom within moral and legal limits of Shariah
Islam balances individual freedom with moral and social responsibility.
12
Which instrument is central to interest-free monetary policy?
Answer:
Profit-sharing instruments like Mudarabah and Musharakah
Profit-sharing contracts allow liquidity management without violating Shariah.
13
What is the Qur’anic basis for economic moderation?
Answer:
Surah al-Furqan 25:67 — 'Neither extravagant nor miserly'
Qur’an promotes balance and moderation in spending — neither wasteful nor stingy.
14
What role does morality play in Islamic economics?
Answer:
It is integral to every transaction
Ethics are inseparable from economics, as wealth must be earned and used righteously.
15
What does Islamic fiscal policy emphasize?
Answer:
Redistribution and public welfare
Fiscal policy in Islam prioritizes justice, zakat collection, and public good.
16
Which Islamic economist proposed integrating maqasid al-shari‘ah into modern policy?
Answer:
Jasser Auda
Dr. Jasser Auda emphasized maqasid-based policy design for ethical and effective governance.
17
What is the Islamic perspective on globalization?
Answer:
Accepted if rooted in justice and ethics
Globalization is acceptable if it promotes equity, justice, and moral conduct.
18
What is the function of Waqf in modern Islamic economies?
Answer:
Sustainable social welfare and education funding
Waqf endowments sustain social welfare, education, and healthcare without interest-based funding.
19
Who wrote 'Iqtisaduna'?
Answer:
Muhammad Baqir al-Sadr
Al-Sadr’s ‘Iqtisaduna’ systematically presents Islamic economics as a divine alternative to capitalism and socialism.
20
In modern Islamic finance, what ensures Shariah authenticity?
Answer:
Shariah Supervisory Boards
Shariah boards ensure compliance with divine law and ethical integrity of financial products.