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Islamic Finance

  Islamic Finance   |   Terms
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  • February 6, 2023
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Forward Wakalah

An agency contract (aqd al-wakalah) that does commence or comes into effect at a preset, tentative, or foreseen future date. For example, the principal (muwakkel) may request the someone to become his agent (wakil) as soon as a trigger event has happened such as commencement or completion of a project.

It is known in Arabic as wakalah mudhafah lil mustaqbal (وكالة مضافة للمستقبل).


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