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  5. In the Islamic econo...

In the Islamic economic system, baytuk māl is equivalent to the

Islamic Religious Knowledge (IRK)
JAMB 2015

In the Islamic economic system, baytuk māl is equivalent to the

  • A. commercial bank
  • B. public treasury
  • C. common market
  • D. community bank
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Correct Answer: Option B
Explanation

Bayt al-Mal, known as the public treasury of Islamic state, was established by the Prophet-may peace be upon Him- and then it was further extended and expanded by Abu Bakr and Umar, who succeeded the Prophet as the Caliph of the Islamic state

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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