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Islamic Finance


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Mal Qimi


An Arabic term (مال قيمي) that translates non-fungible items of wealth or valuables (mal). Mal qimi is a category of mal which includes things usually sold and bought individually or by numbers such as plots of land, houses, automobiles, or animals, particularly those that have no replacements in the market.

Such items/ things are distinct articles whose value (and form) is not identical or similar to each other’s and cannot therefore be replaced by counterparts of the same type. Qimi (singular of qimiyyat) is an item that has no standard replacements in the market, and as such its price substantially deviates from that of other items belonging to the same general class- i.e., do materially differ from each other.


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