The separation of an entity's assets or profits (or return on assets) financially without necessarily having it operated as a...
Arabic (ركن) for one of the pillars/ elements/ cornerstones of a contract (aqd– عقد). The primary arkan (pl. of rokn)…
An Arabic expression (ربح ما لم يضمن) that translates as gain of non-owned assets (i.e., assets whose risk is not…
A guaranty that is restricted by al-wasf or description. As such, guaranty is classified as current guaranty and deferred guaranty.…
A form of einah sale (بيع العينة) in which a commodity is sold for a spot price (thaman) and then is…
The amounts which are due from an Islamic bank’s clients as a result of sale transactions that are based on…
Arabic (ربا القروض) for riba associated with lending and borrowing (i.e., received in lending or paid in borrowing). It is…
Arabic (رهن) for an arrangement whereby a valuable asset is posted as collateral for a debt (dayn). The collateral may…
A type of partnership (sharika) which is formed by two or more parties who share their good reputations, creditworthiness, and…
Arabic (رخصة) for a dispensation or permission or exemption as given by shari’a to Muslims in specific circumstances (e.g., illness,…