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Islamic Finance

  Islamic Finance   |   Terms
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  • July 24, 2020
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Mukatib

Arabic (مكاتب) for a slave (abd) whose mater agreed to set him/her free by setting a deadline to pay for his/her freedom (in a process known as mukatabah). Historically, mukatib earned his/her freedom after having agreed to make a future payment to the master. That is, the freed slave usually entered into a sort of agreement with the master so that a specific amount of money was to be paid by the former to the latter during a specific period of time at the end of which the former was finally freed from slavery. Otherwise, the salve would keep his/her status as a slave as long as he/she owed his/her master even a single dirham.


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