The accounting process which aims to provide appropriate information, not necessarily limited to financial data, to the stakeholders of a…

An agreement that incorporates the sale of the leased asset (in an ijara contract) at the end of the lease…

Arabic (كدك) for the right given to a lessee of the waqf property (like shops, plants, factories, etc.) to improve…

An Islamic fiqh term that is associated with the process of sulh al-ibra’ or discharge reconciliation. The creditor party accepts…

A type of guaranty which is particularly used in guaranteeing debts. Dhamanah comes usually in the form of collateral whereby…

Another name for bay al-salam; by definition, it is a type of sale (bay’), which is an exception to the…

A type of sale (bay’) which is effected using down payment or advance money (arboon– عربون) with the condition that…

Arabic (بيع باطل) for void sale (void contract/ transaction of sale). It is a type of bay' (belonging to the...

The lowest amount of money/wealth/savings that, if reached or exceeded, makes zakah (zakat) obligatory. It is not obligatory, that is…

In the context of companies and businesses, it is the excess of zakatable assets over short-term liabilities. Zakatable assets are…