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Ancillary Khiyar

A type of khiyar (option) that is embedded in, or associated with, an Islamic finance arrangement (contract). By nature, the...

Ancillary Wad

A type of wad (promise) that is embedded in, or associated with, an Islamic finance arrangement (contract). By nature, the...

Ancillary Wa’ad

A type of wa'ad (promise) that is embedded in, or associated with, an Islamic finance arrangement (contract). By nature, the...

Al-Ghallah

In Islamic finance, al-ghallah (الغلة) generally refers to any type of income produced by a factor of production (labor, capital,...

Al-Kafeel

In a contract of al-kafalah (or al-kifalah), it is the party who provides assurances as to the performance of an...

Aqd Mudhaf

Arabic (عقد مضاف) for a contract (aqd) which comes into effect at a specific date in the future. In this...

Aqd al-Fadalah

In Islamic fiqh, fadhalah (or fadalah) refers to the act(s) of al-fodhouli (al-fuduli), i.e., a person (natural or legal) who transacts (e.g. sells, rents, etc)...

Al-Shart al-Sahih

A valid condition, i.e., a contractual stipulation that is permissible (under shari'ah) and binding on the parties to the contract...

Al-Shart al-Fasid

A condition / contractual stipulation that renders the contract (aqd) in which it was stipulated a defective contract (i.e., though...

Ahkam

Plural of hukm or hukum; a legal or shari'a injunction that relates to the actions of individuals. Hukm is usually classified into different...