It stands for purchase orderer; the purchasing party to a murabaha to the purchase orderer (MPO) (or broadly a murabaha...

The purchasing party to a murabaha to the purchase orderer (MPO) (or broadly a murabaha transaction)- i.e., the party (customer)...

A debtor (madeen) who is solvent but refuses to pay a debt (dain/dayn) at or after its due date (i.e.,…

In shari’a, possession of an asset/countervalue/amount takes place physically if it is delivered or received by hand. For example, an…

A noncommercial guarantee/ suretyship (kafala shakhsiya) which is used to secure commutative contracts (e.g. contracts of sale, contracts of rights,…

It is permissible by shari'a to include in an istisna'a contract a stipulation of a fair penalty clause in the...

Or istishab in Arabic; it is a doctrine of Islamic law (shari’a), and a secondary source of shari’a, which refers…

A type of waqf whose proceeds are used to serve a specific group of individuals (beneficiaries) such as students, travelers…

With respect to istisna’a, it is a method which is used by Islamic banks and financial institutions to recognize istisna’a…

A salam contract in which the seller (the short) or the buyer (the long) in the original (previous) salam becomes...