Filter by Categories
Accounting
Banking

Islamic Finance




Paid Agency


An agency in which remuneration (ajr or iwadh) is explicitly stipulated and specified in the agency contract (aqd al-wakalah/ aqd al-wikalah) or is implicitly taken for granted based on customary practices (urf) as when the agent provides his services for commission/ fees in return. If remuneration is not specified in the contract (aqd), prevailing market rate may be used for comparable services.

This form of agency is subject to the shari’ah rulings on leasing (ijarah).



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    Your email address will not be published.*