The process of deriving a shari’a view or conception to an emerging matter or fact for which there was no precedent in the arena of mua’amalat (financial and commercial transactions). For example, new transactions such as takaful or sukuk issuance were originally canonized based on takyif- by likening them to traditional forms of transactions. In this sense, takyif involves a decision whether a matter or product is permissible or impermissible in view of shari’a rules and principles.
Takyif is Arabic (تكييف) for characterization or adaptation. It is also referred to as takhreej.
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