An asset that comes into existence when an Islamic bank provides finance to clients using a shari’a-compatible mode of financing...

An Arabic term (إبراء خاص) that means special discharge. By definition, it is a variant of ibra’ whereby a person…

A sale contract that is used by Islamic banks and financial institutions acting as intermediaries in order to provide finance...

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

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

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

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

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

A fatwa that was issued based on consensus reached by companions (sahaba) of the Prophet (pbuh), particularly the four orthodox…

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