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Islamic Finance

  Islamic Finance   |   Terms
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  • November 22, 2021
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Qubul

Arabic (قبول) for acceptance of an offer in a contract (‘aqd). It is one of the two essential elements of a contract in Islamic transactions (muamalat). The other element is ‘ardh (عرض). The exchange of consent, consisting of both offer and acceptance (ijab wa qabul– إيجاب وقبول), must take place during the same session of contracting (majlis al-aqd) between the parties to the contract. The session commences when an offer is made or announced and concludes when the parties separate, whether with an acceptance or unacceptance having been expressed.


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