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Fard

Arabic (فرد) for individual/person/one. However, it may be sometimes, mistakenly used to refer to obligation or duty (the right spelling…

Quadruple Witching Week

The week that begins on Monday prior to the Saturday expiration of any four classes of option contracts. The week…

Family Waqf

A type of waqf (endowment) in which a person (waqf initiator/originator) designates oneself or some specified individuals as the beneficiaries…

Quadruple Witching Month

The month that that marks the expiration of any four classes of option contracts. This month, the last month in…

Elimination of Pretexts

A shari’a approach (and one of the secondary sources of Shari’a) which is applied to prevent, on a pre-emptive basis,…

Quadruple Witching Day

The day on which any four classes of option contracts (stock index futures, stock index options, stock options and single…

Paper Profit

It refers to unrealized capital profits in an open position in options or futures (or generally in an investment portfolio).…

Dain Mustaqir

Arabic (دين مستقر) for debt (dain) that represents an established liability on a debtor (madeen). In other words, payment or…

Paper Loss

It refers to unrealized capital losses in an open position in options or futures (or generally in an investment portfolio).…

Dain Mushtarak

Arabic (دين مشترك) for debt (dain) that arises from one transaction or engagement whereby it is owed to two or…