In Islamic finance, agency (wakalah, وكالة in Arabic) is a contract (aqd) between two counterparties: an agent (wakeel) and principal...

A class of contracts to which shari’a neither assigned specific names nor handled in details their respective rules and stipulations....

Arabic (الوعد بالبيع) for promise (wa’ad) to sell. It is usually embedded in exchange-based contracts/ commutative contracts (uqud al-mua’wadhah) such...

Arabic (الوعد بالبيع) for promise (wa’ad) to sell. It is usually embedded in exchange-based contracts/ commutative contracts (uqud al-mua’wadhah) such...

Arabic (عكس العينة) for reverse sale and buy-back; a form of inah sale (بيع العينة) in which a commodity is sold...

The object of a salam contract (aqd al-salam) which is exchanged for the price (thaman or ras-ul-mal). It is the...

Arabic (عكس العينة) for reverse sale and buy-back; a form of einah sale (بيع العينة) in which a commodity is sold...

The price or monetary amount of an object of sale (tangible like commodities or intangible like services), i.e., what is...

A shart (condition) in a commutative contract that leads to an impressible outcome (haram). For example, a shart batil may...

A general shari'ah maxim that all commercial and financial activities are originally permissible by the primary sources of shari'ah, unless...