A murabaha transaction that involves an Islamic bank or financial institution purchasing shares through a client as agent and reselling…
Arabic (Ù…Øاباة) for deference in a transaction. More specifically, it means a favor extended in an exchange-based transaction, either by…
The lowest amount of money/wealth/savings that, if reached or exceeded, makes zakah (zakat) obligatory. It is not obligatory, that is…
A type of guaranty (guarantee or kafalah in Arabic) in which a third-party guarantees all of a trader’s debts, as…
The object of a salam contract which is exchanged for the price (thaman or ras-ul-mal). It is the commodity or…
Arabic (مبادلة الربØ) for profit rate swap. By definition, it is an Islamic swap that entails the exchange of a…
A situation where a person takes possession (hiyaza) of an object or a form of wealth (mal) as a proxy/...
In Islamic finance, it refers to the selling (ba'i/ bay) of a commodity at an agreed upon price irrespective of...
An authoritative shari’a textual source (nass) whose authenticity is disputed by Muslim scholars. For example, for rulings based on qiyas,...
Arabic (نص قطعي) for an authoritative shari’a textual source (nass) whose authenticity is not a subject of dispute or speculation...
