In Islamic finance, it refers to the selling of a commodity at an agreed upon price irrespective of the original…

The sale (ba’i) of goods that have not been actually or constructively possessed by the seller. This involves the sale…

The sale (ba’i) of goods that have not been actually or constructively possessed by the seller. This involves the sale…

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…