A category of buyu (pl. of ba'i or bay') that consists of all sales that are impermissible under shari'a due...
Arabic (مشاع) for a share in undivided property. It is an unidentifiable portion in a common property- i.e., a property...
The process of issuing certificates that represent debts and loans (generally any type of obligations). The issued certificates (or securities)...
The process of mixing, and adding together, a number of shari’ah-compliant asset classes in securitization (tasnid/ taskik) or capital structure. Examples of pooling (khultah) in...
It stands for purchase orderer; the purchasing party to a murabaha to the purchase orderer (MPO) (or broadly a murabaha...
The purchasing party to a murabaha to the purchase orderer (MPO) (or broadly a murabaha transaction)- i.e., the party (customer)...
A debtor who fails to repay or extinguish a debt (dain/ dayn) that is due. Under shari'a, it is impermissible...
A shari'a-compliant debit card which confers on the holder the right to withdraw cash from the balance available on his...
A financial intermediary that mobilizes and directs funds (amwal) in a way compliant with shari'a principles and precepts (ahkam al-shari'a)....
Arabic (تبرع) for voluntary donation. It may broadly involve any voluntary act without expecting or stipulating any compensation in return....