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Bay’ al-Salam

A type of sale (bay’), which is an exception to the general rule for sale contracts that the object of...

Commercial Paper

Tradable and negotiable, money-market certificates that represent pecuniary rights payable at sight or a after a short period of time....

Tafreet

An Arabic term (تفريط) that literally translates as failure to do the needful or what ought to be done. In...

Tafrit

An Arabic term (تفريط) that literally translates as failure to do the needful or what ought to be done. In...

Taaddi

Arabic (تعدي) for breach of contract or failure to perform a duty. In the context of Islamic financial/ business transactions,...

Taadi

Arabic (تعدي) for breach of contract or failure to perform a duty. In the context of Islamic financial/ business transactions,...

Haram

The set of actions, sayings, contracts, transactions and other dealings that are explicitly denounced and deemed impermissible by Islamic shari’a....

Charitable Wakaf

A type of wakaf (waqf) whose proceeds are used to serve a specific group of individuals (beneficiaries) such as students,...

Charitable Waqf

A type of waqf whose proceeds are used to serve a specific group of individuals (beneficiaries) such as students, travelers...

Sale on Credit

A type of sale (ba'i/ bay') in which the delivery of the object of sale (a commodity) takes place at...