A form of sale (bay’) which, according to the Hanafi school of thought comes into effect immediately, i.e., it is…

It stands for a non-binding murabaha to the purchase orderer; A non-binding MPO is a murabaha to the purchase orderer...

A partnership mode of Islamic finance in which partners contribute equal or unequal ratios of capital, management skills, goodwill or...

A type of risk that is associated with sales (buyu) in which the price (thaman) of an underlying object (commodity),...

The process of issuing certificates that represent debts and loans (generally any type of obligations). The issued certificates (or securities)...

The process of mixing, and adding together, a number of shari’ah-compliant asset classes in securitization (tasnid/ taskik) or capital structure. Examples of pooling (khultah) in...

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 who fails to repay or extinguish a debt (dain/ dayn) that is due. Under shari'a, it is impermissible...

A shari'a-compliant debit card which confers on the holder the right to withdraw cash from the balance available on his...