Question

Which of the statement on Islamic banking is incorrect?
(A) Islamic banking is only for Muslims.
(B) Islamic banking activity does not allow paying and receiving of interest.
(C) Islamic banking promotes the principle of profit sharing between banking institution and depositor.

• A. Only A
• B. Only B
• C. Only C
• D. Both B and C
• E. None of these

Answer 1

The correct option is A Only A

Islamic banking is only for Muslims is an incorrect statement.