Also istihsan in Arabic; a doctrine of Islamic law (shari'a) that implies reconsidering an action, behavior, or practice that was...

A non-refundable deposit which is paid by a potential buyer to a seller, and whereby the former retains the right...

An Islamic equivalent of the conventional call option. It is structured in a way that the premium paid by the...

In the context of companies and businesses, it is the excess of zakatable assets over short-term liabilities. Zakatable assets are...

The majority of fuqaha, i.e., the majority of founders of the four leading schools of thought or mazhahib (Abu Haneefah,...

The six substances (items) that are sold by weight and measure, literally: gold, silver, dates, wheat, salt and barley. Exchanging...

Arabic (بيع العينة) for a contract of ba'i that involves the sale and buy back of an object (commodity, asset,...

A case of sale (bay’) in which the buyer doesn’t haggle over the price (i.e., takes it as a given)....

Joint waqf (وقف مشترك) is a form of waqf (Islamic endowment) in which the assets (property) assigned as endowment are...

Self-dedicated waqf (وقف على النفس) is a form of waqf (Islamic endowment) in which the income/ usufruct of the assets...