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

A deferred payment option which permits the holder to freeze or lock-in the underlying price at which it will be…

An agency contract (aqd al-wakalah) that does commence or comes into effect at a preset, tentative, or foreseen future date.…

An option trading strategy (a straddle calendar spread) whereby a near-month straddle is sold at a set strike and a…

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

A discrete barrier option which places a barrier cap on its underlying movements. A discrete barrier cap is similar to…

In its literal meaning, fodhooli refers to a person who interferes in matters that are none of his business. Technically,…

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

Arabic for obligation or duty. In this sense, and in usul al-fiqh, fardh (فرض) encompasses all acts considered by shari’a…

A futures contract which matues at most distant months. That is, it has expirations or delivery dates furthest into the…