The increase in the value of a financial or physical asset over its normal life-time or a specific period of…

A promise to pay which is made when the drawee of a time draft (bill of exchange) writes the word…

An istisna’a contract in which one counterparty (the seller or the buyer) is also a counterparty to a previous istisna’a…

It stands for restricted investment account, which is an Islamic investment account which is subject to certain restrictions imposed by…

An index derivative product, initially launched in 2009, which represents a smaller than standard-sized futures contract that is priced at…

A sophisticated analytical method which was initially introduced to find solutions for random-behavior problems by calculating approximate probabilities of specific…

An amount that is taken out of an Islamic bank’s income (mudaraba income, investment account holders’ income, etc) as a…

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…