Arabic (ركن) for one of the pillars/ elements/ cornerstones of a contract (aqd- عقد). The primary arkan (pl. of rukn)...
The objectives (maqasid) which shari’a is inherently meant to attain. This embodies the rationale of shari’a as reflected in protecting…
An Arabic expression that translates as gain of non-owned assets (i.e., assets whose risk is not borne by the profit…
A salam contract in which the seller (the short) or the buyer (the long) in the original (previous) salam becomes…
In the context of selling (ba’i or bay‘- البيع), ribh (in Arabic script: ربح) refers to the difference resulting from…
A set of principles whereby rules of Islamic jurisprudence (fiqh) are derived from specific evidences in the main shari’a sources…
A waqf of the usufruct (manfa’ah– manafi’) of a rented property. It is a temporary waqf (waqf muaqqat) which only…
Interest (usury or riba) that is earned on lending money to another party (or interest that is paid on borrowing…
In simple terms, it is the right of an individual to use something that belongs to someone else, whether for…
In general, usury refers to the predetermined interest which a lender charges on, and collects from, a borrower. The lender…