A Shari’a-compliant reference rate for the cost of funding in Islamic money markets. Islamic finance prohibits interest (riba) and shuns...

A shari'a-compliant credit card which provides a revolving credit facility within a credit limit and during a credit period determined...

An ijarah contract whose underlying is an unidentified unit of asset that will be leased at a future date. It...

Arabic (وكالة بالأجر) for paid agency; a wakalah in which remuneration (ajr or iwadh) is explicitly stipulated and specified in...

Arabic (تقرير) for tacit approval. It refers to what the Prophet Muhammad (pbuh) approved, verbally or silently, in the actions...

A credit default swap (CDS) that is structured to be permissible by shari'ah. It is based on some shari'ah-compliant underlyings...

An Arabic term (صكوك الاستثمار) for investment sukuk. These are certificates (sukuk) of equal value which are issued and sold...

A type of sale on credit (bay' ajel) in which the price (thaman) is paid in full at a future...

A type of sale (ba'i) in which payment for future-delivery goods is made in advance at the time of contract....

A type of sale (ba'i) which is effected using down payment or advance money (arbun- عربون) with the condition that...