Khiyar is an option that is given to one or both of the contracting parties or a third party to…

A contract (aqd) which is incidental or auxiliary to another contract (usually a principal contract). Accessory contracts are mainly used...

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An interest rate swap in which the floating rate is set in arrears. This means, the floating rate is determined based on the value...

The fixed rate in an interest rate swap expressed as a percentage rate instead of a premium or a discount to a specified reference rate. The...

Typically, the total amount of interest that a depositor receives is calculated by multiplying the applicable floating rate (say, LIBOR) by...

A relationship between a bank and its customer that is usually evidenced by a deposit against which withdrawals can be...

A promise to pay which is established when the drawee of a time draft (bill of exchange) adds the word "accepted" along...

To voluntarily give up a possession, claim, or right, such as to abandon a financial asset. It could also refer...

An interest rate cap in which the successive caplets cover increasing notional principal amounts. In other words, the notional principal...