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Islamic Finance

  Islamic Finance   |   Terms
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  • August 7, 2021
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Sighah

Arabic (صيغة) for contractual formula (formula of a contract/ aqd). A formal exchange of offer/proposal (ijab or ‘ardh) and acceptance (qubul/ qabul/ qabool) between contracting parties at contract assembly (majlis al-aqd), signifying their willingness to enter into a contract. Sighah may be verbal, written or even gestural/indicative, depending on the context of contracting (time, place, urf, etc).

Sighah is an integral element (rukn– ركن) of contract in Islamic trade and investment/finance.

It is also known as sighat al-aqd (صيغة العقد).


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