Sarf

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Promissory FX

A financial instrument that contains an unconditional promise by one party to enter into a foreign exchange transaction with another…

Aqd al-Muawadha

Arabic (عقد المعاوضة) for compensatory contract (commutative contract) whereby one party receives compensation/ consideration (iwadh) from another party in return…

Bay’ al-Muqayadhah

A mode of trading (mutajarah) which involves the exchange of one asset for another without resorting to a medium of…

Muratalah

Arabic (مراطلة) for the sale (ba'i or bay') in which a type of money (naqd) is exchanged for money of...

Qabd Hukmi

An Arabic term (قبض حكمي) that denotes constructive possession; a method of taking possession of an asset (commodity, currency, etc)...

The sale of a monetary amount in exchange for another monetary amount. More specifically, it is the exchange of one...

Ba’i al-Muqayadah

A mode of trading (mutajarah) which involves the exchange of one asset for another without resorting to a medium of...

Ba’i al-Thaman bil Thaman

The sale of a monetary amount (thaman or naqd) in exchange for another monetary amount (thaman or naqd). More specifically,...

Mal Mutaqawwim

According to the Hanafi school of thought (mazhab), a category of mal that is capable of legal (shari'a-compliant) ownership and...

Mal Mutaqawwem

According to the Hanafi school of thought (mazhab), a category of mal that is capable of legal (shari'a-compliant) ownership and...