With respect to debts, hawala refers to the transfer of debt from one party (the transferor, or muheel) to another…

A short sale against the box (SATB) of a stock  is a trade in which the seller actually owns the…

An essentially noncommutative contract that is used to secure a commutative contract (such as a sale contract/aqd al-ba’i) or obligations…

A forward contract which allows the holder to lock in today an exchange rate at a future date. With this…

An interest rate swap in which one leg is a fixed rate referenced to the UDI index (or the Unidades…

Arabic (فرض عين) for individual duty or obligation. It is an act that is compulsory for every competent Muslim (man…

A bond that pays interest only if the floating interest rate (such as LIBOR) or aninterest rate option underlying a…

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

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

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