Islamic Finance – Page 3

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Istisna’a Applications

Istisna'a (الاستصناع) is a special kind of the contract of sale (ba'i) in which the underlying commodity is sold before...

Tandheedh al-Mudharabah

Mudharabah is a partnership in profit (ribh) in which one party (rab al-mal) provides funds, while the other (mudharib) contributes...

Stipulation of a Contract of Sale in a Contract of Qard (Qardh)

Qard (qardh) is an Islamic equivalent of loan, though it is an interest-free loan. It is defined as the transfer...

Inclusion of Takaful Charges in Murabaha Transactions

The two parties to a murabaha contract may agree to include takaful charges in the cost of acquisition as one...

Zakat Payability Conditions

From a shari’a perspective, zakat (mandatory alms) cannot (or need not) be payable unless a number of conditions are met....

Intellectual Property as Subject-Matter of Murabaha

Murabaha (also spelled murabahah) is a shari’a compatible mode of debt financing which involves the sale of a commodity mostly...

Difference Between Hibah and Hadiyyah

Hibah (هبة) is a gift (an amount of wealth) given gratis (for no consideration/ iwadh) for the sake of the...

Modes of Mutajarah

Trading (mutajarah) refers to the activities of buying a certain object (commodity, asset, etc) with the intention of selling, typically...

Difference Between Ordinary Hibah and Hibat al-Thawab

Ordinary hibah (هبة) is a gift (an amount of wealth) given gratis (for no consideration) for the sake of the...

Differences Between Adl and Ihsan

Adl or al-adl is Arabic (العدل) for justice or fairness. In general, the term “al-adl” relates to the concepts of...