Arabic (ركاز)- singular of rakaiiz– for all valuable objects underground. It includes all treasures (gold, silver, precious stones, etc.) whether…
Arabic (ركن) for one of the pillars/ elements/ cornerstones of a contract (aqd- عقد). The primary arkan (pl. of rukn)...
The objectives (maqasid) which shari’a is inherently meant to attain. This embodies the rationale of shari’a as reflected in protecting…
An option spread that combines a long position and short position in put options on the same underlying asset. By…
A cancellable swap in which the fixed-rate receiver/ floating-rate payer has the right, but not the obligation, to terminate the…
A financial security (and a type of derivative) that is collateralized by a pool of underlying assets. Those assets could…
An Arabic expression that translates as gain of non-owned assets (i.e., assets whose risk is not borne by the profit…
A salam contract in which the seller (the short) or the buyer (the long) in the original (previous) salam becomes…
In the context of selling (ba’i or bay‘- البيع), ribh (in Arabic script: ربØ) refers to the difference resulting from…
An options trading strategy that is based on establishing a spread position in which the premium on the short option…
