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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…

    Bilateral Promising

    In Islamic finance, bilateral promising, or muwa'adah in Arabic, refers to a promise which is issued by a counterparty against...

      Nonbinding Promise

      In Arabic, it is originally known as a wa'ad ghair mulzim; a wa’ad (promise) in which the promisor (al-wa’ed) is...

        Ancillary Wad

        A type of wad (promise) that is embedded in, or associated with, an Islamic finance arrangement (contract). By nature, the...

          Product Wad

          A type of wad (promise) that constitutes, by nature and structure, a full-fledged Islamic finance arrangement which is used as...

            PFX-i

            A financial instrument (promissory FX) that contains an unconditional promise by one party to enter into a foreign exchange transaction...