A guarantee or undertaking (binding promise– wa’ad mulzim) by either the issuer of sukuk or the manager of sukuk-financed project/…
The amount of tangible assets or holdings (or tangibles-backed instruments) to the size of overall asset base (such as total...
Arabic (عقد معاوضة) for compensatory contract (commutative contract) whereby one party receives compensation/ consideration (iwadh) from another party in return...
A sale contract that is used by Islamic banks and financial institutions acting as intermediaries in order to provide finance...
Arabic (أهلية الأداء الكاملة) for being completely eligible for taklif/ takleef, i.e., the capacity (ahliyyah) of a person to enjoy...
Arabic for obligation or duty. In this sense, and in usul al-fiqh, fardh (فرض) encompasses all acts considered by shari’a…
A rent or wage amount or consideration that is determined by an arbitrator or judge (if disputed), or with respect…
Arabic (ربا غير مباشر) for indirect riba. It is a type of riba that arises from the simultaneous exchange of…
Arabic (ربا مباشر) for direct riba. It constitutes an increment that a lender receives over and above the principal amount…
A hawala that involves the transfer of the right to claim from one creditor to another. The new creditor replaces…