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Islamic Finance


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Kadak


Arabic (كدك) for the right given to a lessee of the waqf property (like shops, plants, factories, etc.) to improve the property, subject to the “uninterrupted” payment of rent. It may include all the implements present and fixed in the property (shop or dukkan).

Kadak includes a shop’s components such as façad, shelves, lights, niches, decoration, padlocks, etc. In this sense, kadak is a specific type of the so-called haq al-qarar (right to settle in and stay at a given place).

Kadak is a term originated in Damascus (18th century).


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