A present economic obligation that is enforceable against an Islamic bank or financial institution. Enforcement entails settlement by means of...

An ijarah in which an asset is leased for a long period of time in a way that ujrah (compensation)…

In the context of Islamic financial accounting, a liability is recognized in the balance sheet (statement of financial position) when…

With respect to quoting audit fees by an auditor, it refers to the practice of quoting a low fee (usually…

An ijarah in which an asset is leased for a long period of time in a way that ujrah (compensation) is…

A modern application of guaranties that constitutes a guaranty issued by a bank on behalf of a local merchant, securing…

A form of Islamic lease in which the contract is linked to the lessor’s liability. Lease of liability is the…

Arabic (ليّ) for the act of delaying repayment/payment of due debts (duyun) on maturity. Such a delay/procrastination may be the…

The state in which a contract (aqd) is devoid of any option (khiyar) that may allow one of its parties...