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Islamic Finance

  Islamic Finance   |   Terms
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  • October 28, 2020
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Wakalah Muqayyadah

Arabic (وكالة مقيدة) for restricted agency/ restricted wakalah; an agency contract (aqd al-wakalah) that the principal (muwakkel) restricts the acts or discretion of the agent (wakil). For example, it may involve a principal requesting his agent to buy a car that has a specific color and model and at a price not exceeding a specific amount. In this case, the agent is not at liberty to buy any car but must adhere to the specifications dictated by the principal. Restrictions vary according to principals’ requirements, preferences, resources, etc.


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