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Quanto Cap

An interest rate cap that is paid in a currency different from the one denominating the reference rate. This structure…

Glamor Stock

A widely held stock that is preferred by typical and institutional investors. It represents businesses with strong earnings growth and…

Net Asset Value Per Share

The amount of of net assets (of an Islamic investment fund) that is attributable to each share/unit at the end…

Forward Floor

An interest rate floor that has a forward start date. In other words, the floor comes into effect at some…

Nahd

Arabic (نهد) for an undertaking or commitment to contributing or donating towards a common purpose or endeavor. Originally, it was…

Common Shares

A class of securities that represents ownership interest in a publicly-held company and entitles a shareholder to vote on specific…

Negligence by the Mudarib

The mudarib’s (mudharib’s) laxity that results in his nonfulfillment of his duties under the contract of mudharaba/ mudaraba (aqd al-mudharaba/…

Forward Outright Rate

In forex markets, it refers to the actual forward rate which is used in an outright forward contract. It is…

Conversion Ratio

A provision in a company’s prospectus that spells out the number of common shares a holder of convertible securities will…

Nazir al-Waqf

The custodian of an endowment (waqf) who undertakes responsibility for management of its assets and resources as well as its…