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Islamic Finance

  Islamic Finance   |   Terms
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  • November 4, 2021
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Asl al-Qard

The face value of a qard (loan), i.e., its principal (or principal amount). For example, a $1,000 loan must be paid off at its face value or the amount originally extended by the lender (i.e., $1,000) at the due date of repayment (tareekh al-istihqaq). Shari’a prohibits that loans are repaid for more than their face value, as the excess is riba.


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