The amounts which are due from an Islamic bank’s clients as a result of sale transactions that are based on…

Arabic (ربا القروض) for riba associated with lending and borrowing (i.e., received in lending or paid in borrowing). It is…

Arabic (رهن) for an arrangement whereby a valuable asset is posted as collateral for a debt (dayn). The collateral may…

A type of partnership (sharika) which is formed by two or more parties who share their good reputations, creditworthiness, and…

Arabic (رخصة) for a dispensation or permission or exemption as given by shari’a to Muslims in specific circumstances (e.g., illness,…

It is a form of musharaka in which the Islamic bank or financial institution owns shares or units representing an…

A pledge (rahn) in which the posted asset, in association with a credit transaction, can be provided by a third…

Al-fodhouli is a person who intervenes or interferes in others’ affairs without being invited or called on (out of curiosity).…

A credit sale which has a fixed term at the end of which the buyer has to pay the agreed…

The sale or disposal of an asset. Divesture takes place when a company (or any form of going concern) sells off…