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Islamic Finance




Ghallat


In Islamic finance, ghallat/ ghallah (غلة) generally refers to any type of income produced by a factor of production (labor, capital, land,…). Broadly, it can be a rent amount (rental, ujrah), a land yield or harvest, an animal produce, etc. In business dealings, ghallah could also refer to sales revenue or return of capital, among others.

In the context of waqf/ wakaf/ awqaf, ghallah (also, ghallat al-waqf) represents the the net surplus from the waqf’s financial activities in addition to (or adjusted with) other gains/ losses from other operations/ programs that are attributable to the set beneficiaries (and after adjustment for non-cash items such as depreciation, amortization, etc.)

In general, ghallat al-waqf takes many forms including monetary ghallah, usufruct and benefits, utilization of assets (e.g., functional assets), and so on.



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