A financial item that reflects the residual interest in the assets of the institution (e.g., an Islamic bank) after deducting...

A type of sale (ba’i) in which a lender sells a commodity to a borrower for more than its market…

From the Arabic term “bai al-ikhtiyar“. According to Malikis, it is a sale (ba’i) in which the buyer has the…

A contract/ aqd (on an entity- e.g., an Islamic bank) in which the unavoidable costs of meeting the obligations under...

A commitment (on an entity- e.g., an Islamic bank) in which the unavoidable costs of meeting the obligations under the...

The objectives (maqasid) which shari’a is inherently meant to attain. This embodies the rationale of shari’a as reflected in protecting…

An ijara contract that doesn’t end up with the transfer of ownership of leased properties to the lessee. In other…

The risk that affects the operations of an Islamic bank (Islamic financial institution– IFI) including the risk of loss arising…

Also istisna'a (استصناع) in Arabic transliteration. It is a special kind of the contract of sale (bai') in which the...

A murabaha which involves two parties, a buyer and seller, where the former is a merchant by trade. The merchant...