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Participation Sukuk

A type of musharaka sukuk that represent certificates of equal value (sukuk) issued for the purpose of investing the funds…

Provision

A charge that an Islamic bank makes against earnings. In other words, it is a contra-asset that is created by…

Principal Contract

A contract (aqd) which exists by itself and is not subordinate or auxiliary to another contract (i.e., an accessory contract).…

Purchase Undertaking in Sukuk

An undertaking (binding promise– wa’ad mulzim) by either the issuer of sukuk or the manager of sukuk-financed project/assets to repurchase…

Operational Risk

The risk that affects the operations of an Islamic bank (Islamic financial institution– IFI) including the risk of loss arising…

Ghaban Yasir

Arabic (غبن يسير) for a slight or minor ghabn; ghaban is a fraudulent practice by which one party to a...

Ghaban Yaseer

Arabic (غبن يسير) for a slight or minor ghabn; ghaban is a fraudulent practice by which one party to a...

Istisnaa Sukuk

Certificates of equal value (sukuk) that are issued for the purpose of mobilizing funds to be used in the production…

Islamic FinTech

In essence, fintech/ FinTech refers to the use of financial technology (such as smart phones and devices for online payment,…

Ghabn Yaseer

Arabic (غبن يسير) for a slight or minor ghabn; ghabn is a fraudulent practice by which one party to a...