Arabic (التخارج) for a composition that is entered into by joint heirs to property, whereby some of them may waive…

Arabic (عزيمة) for strictness and resoluteness in the implementation or practice of shari’ah rules (ahkam), prescriptions, ordinances, etc. In other…

Arabic (عوارض الأهلية) for impediments to legal competence. More specifically, awarid (plural of aridah) are all emerging shortcomings or deficiencies…

A voluntary act (nafelah) that involves giving or donating to a person or charity. By nature, sadaqa (in Arabic script…

An Arabic term (سلم موازي) that denotes parallel forward delivery sale (parallel salam). It is a salam contract in which…

Arabic (شرط) for a condition or stipulation in a contract (aqd). Examples of shart (plural: shurut) include a lease with…

A type of sukuk structure in which sukuk certificates give sukuk holders residual claim over the assets financed by their…

Arabic (ركن) for one of the pillars/ elements/ cornerstones of a contract (aqd– عقد). The primary arkan (pl. of rokn)…

An Arabic expression (ربح ما لم يضمن) that translates as gain of non-owned assets (i.e., assets whose risk is not…

A guaranty that is restricted by al-wasf or description. As such, guaranty is classified as current guaranty and deferred guaranty.…