An Arabic word that carries the meaning of pretext, ploy, ruse, alleged reason, means, and so on. In Arabic script,…
A contract of guaranty which is used to secure debts, retaliatory financial obligations (qisas), or other obligations, in the presence…
Arabic transliteration for receivables; the amounts which are due from an Islamic bank’s clients as a result of sale transactions…
Arabic (فرض كفاية) for collective obligation. It is an act that is obligatory only for the community (Islamic ummah) in…
Arabic (دين صحيح) for debt (dain) that may be discharged or extinguished only by repayment (ada’– أداء) or waiver (ibra’–…
A national-level Shari’a board that oversees the Islamic finance industry in its own country, in addition to providing consultation to…
The object of a murabaha sale or transaction for which the murabaha buyer pays the murabaha seller cost-plus, i.e., the…
A contract of guaranty in which some party becomes a guarantor (kafeel or dhamen) if certain conditions are met. In…
A contract of guaranty which is used to secure commercial transactions. In Islamic jurisprudence, there is a host of shari’a-compatible…
Arabic (عقد المعاوضة) for compensatory contract (commutative contract) whereby one party receives compensation/ consideration (iwadh) from another party in return…