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Islamic Finance


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Shurut


Arabic (شروط) for conditions or stipulations or pr-requisites. Shurut (pl. of shart), more specifically, imply an act or situation upon its existence or fulfillment another act or situation depends, while the the latter is not part of the former.

Conditions (shurut) are generally of two types: 1) a shari’ah conditions (shart shari’e): shari’ah stipulated or ordained, and 2) conditions set by a contracting party (also known as shart ja’li). The latter type is a condition is not a shari’ah (or law) requirement, but rather emanates from the will of a contracting party (in which case, there are three subsets: event-contingent conditions, restrictive conditions, and future-contingent conditions.


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