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Islamic Finance


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Kadik


An Arabized term that refers to the improvements a tenant (lessee) makes to a shop or plant from his own funds. The improvements may be immovable like building works or movable like fixed partitions, shelves, machinery, etc.

It also may refer to what a tenant builds on an endowment property (waqf) against no consideration, i.e., as a donation without claiming it from the waqf.


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