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Accounting
Banking

Contingency Waqf

A type of waqf (endowment) in which the yield (ghallah) is held in reserve so that it can be used...

Qard Current Account

An account with a financial institution that bears no compensation. It is a non-profit bearing, guaranteed loan (qard/ qardh) that...

Qard-Based Current Account

A non-profit bearing, guaranteed loan (qard/ qardh) that is extended by a client to an institution with the understanding that...

Ring-Fencing

The separation of an entity's assets or profits (or return on assets) financially without necessarily having it operated as a...

Equity-Type Instrument

An instrument that can be classified as a type of equity- i.e., it bears similarity to equity, though in essence...

Ba’i al-Hatitah

A sale (ba'i) where the seller parts with the underlying goods for less than the principal amount or the original...

Ba’i al-Hatita

A sale (ba'i) where the seller parts with the underlying goods for less than the principal amount or the original...

Participatory Investment Instrument

An instrument (or an account) that is held by an investor/ investment accountholder (e.g., depositor of funds) under a profit...

Syndicated Murabaha Financing Facility

A murabaha-based financing facility whereby funds for the purchase of the asset (commodities, durable assets, etc.) are provided by a…

Set-Off on Demand

A set-off that involves the discharge of two debts at the request of the creditor, or the party who is…