Arabic (رخصة) for a dispensation or permission or exemption as given by shari’a to Muslims in specific circumstances (e.g., illness,…
An agency contract (aqd al-wakalah) in which the principal (muwakkel) restricts the acts or discretion of the agent (wakil). For…
Arabic (ربح المثل) for matching rate of profit or prevalent rate of profit or benchmark/reference profit rate. It refers to…
The separation of an entity's assets or profits (or return on assets) financially without necessarily having it operated as a...
A type of musharaka that employs the concept of running finance (RF); it is an alternative to running finance that…
The capital that is provided by rab al-mal in a mudaraba contract. Put another way, it is the amount of…
Arabic (ربا غير مباشر) for indirect riba. It is a type of riba that arises from the simultaneous exchange of…
Arabic (ربا مباشر) for direct riba. It constitutes an increment that a lender receives over and above the principal amount…
A hawala that involves the transfer of the right to claim from one creditor to another. The new creditor replaces…
A repricing of murabaha goods (murabaha inventory) which ensues default by the purchaser of such goods. This process involves increasing...