Arabic (فرض كفاية) for collective obligation. It is an act that is obligatory only for the community (Islamic ummah) in…

A range accrual note (RAN) that has an embedded put option. It allows the holder (investor) to put the note…

A debt instrument (security) that gives the issuer the option to pay interest (coupon) either in cash (any form of…

Arabic (دين صحيح) for debt (dain) that may be discharged or extinguished only by repayment (ada’– أداء) or waiver (ibra’–…

A crossing network (CN) that is established and owned by a consortium- i.e., a number of partners, such as banks,…

An abbreviation for participating convertible preferred stock; a combination of a redeemable preferred stock with common stock. The resulting stock receives…

A corporate stock which is sensitive to the business cycle, i.e., it edges up (down) rapidly as the economy turns…

It stands for floating-rate note; a medium to long-term debt obligation (note) that has its coupon rate linked to some…

A national-level Shari’a board that oversees the Islamic finance industry in its own country, in addition to providing consultation to…

An abbreviation for floating-rate collateralized obligation; a collateralized mortgage obligation (CMO) that pays an adjustable rate of interest that is…