An Arabic term (سلم موازي) that denotes parallel forward delivery sale (parallel salam). It is a salam contract in which…

Arabic (شرط) for a condition or stipulation in a contract (aqd). Examples of shart (plural: shurut) include a lease with…

A type of sukuk structure in which sukuk certificates give sukuk holders residual claim over the assets financed by their…

An accounting term that comes from the Latin word "debere", which means "to owe". Debit is a journal entry that...

The transactions that an entity carries out involving income and expense items. Examples of financing activities or transactions include issuing…

An accounting transaction (and an element of an entity’s income statement) that reflects the consumption of an asset (broadly, an...

Arabic (ركن) for one of the pillars/ elements/ cornerstones of a contract (aqd– عقد). The primary arkan (pl. of rokn)…

An Arabic expression (ربح ما لم يضمن) that translates as gain of non-owned assets (i.e., assets whose risk is not…

A guaranty that is restricted by al-wasf or description. As such, guaranty is classified as current guaranty and deferred guaranty.…

A form of einah sale (بيع العينة) in which a commodity is sold for a spot price (thaman) and then is…