Filter by Categories
Accounting
Banking

Islamic Finance




Hajr


Arabic (حجر) for interdiction (of a person). It is a legal action preventing a person from disposing of his/her wealth. Once prevented by the court of law, the person is called mahjur alayhi (interdicted person). Hajr can be imposed on a minor or an insane person for the purpose of preserving his/her wealth (in which case it is initiated to the benefit of the interdicted person). It can also be imposed on a bankrupt debtor (muflis) in order to protect the rights of his creditors (hence it is initiated to the benefit of others).

In Arabic, hajr denotes prevention from acting in a specific way. It also means denial of access to something, detention, etc.



ABC
The last three decades have witnessed the modern rebirth of Islamic finance both in terms of literature and practice. Islamic banks and ...
Watch on Youtube
Remember to read our privacy policy before submission of your comments or any suggestions. Please keep comments relevant, respectful, and as much concise as possible. By commenting you are required to follow our community guidelines.

Comments


    Leave Your Comment

    Your email address will not be published.*