An Asian option in which the average of underlying prices, interest rates, indices, etc, is calculated on all the time…

A debtor (madeen) who is solvent but refuses to pay a debt (dain/dayn) at or after its due date (i.e.,…

In option parlance, a condor is a variation on a butterfly option, in which the two short options (sold options)…

In shari’a, possession of an asset/countervalue/amount takes place physically if it is delivered or received by hand. For example, an…

It stands for collateralized mortgage obligation swap. An interest rate swap (specifically an index amortizing swap) in which the amortization of…

A noncommercial guarantee/ suretyship (kafala shakhsiya) which is used to secure commutative contracts (e.g. contracts of sale, contracts of rights,…

A cross currency basis swap which doesn’t involve currency conversion. For example, assume short-term interest rates in Japan are very…

It is permissible by shari'a to include in an istisna'a contract a stipulation of a fair penalty clause in the...

An option spread which involves buying a call with a given strike price and expiration date while short selling another…

Or istishab in Arabic; it is a doctrine of Islamic law (shari’a), and a secondary source of shari’a, which refers…