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Shart Sahih

A valid condition/ stipulation (shart), i.e., a contractual stipulation that is legally acceptable and binding on the parties to the...

Shart Fasid

A condition (shart) that renders the contract (aqd) in which it was stipulated a defective contract (i.e., though in essence...

Sukuk al-Musharakah

Certificates of equal value (sukuk) that are issued for the purpose of investing the mobilized funds of musharakah for establishing...

Sukuk al-Mudarabah

A subclass of sukuk al-musharakah. Sukuk al-mudarabah (صكوك المضاربة) are by definition certificates that represent ownership in projects or activities...

Sukuk al-Muzara’ah

Certificates of equal value (sukuk) that are issued for the purpose of using the funds mobilized from subscribers in growing...

Sukuk al-Musaqah

Certificates of equal value (sukuk) hat are issued for the purpose of using the funds mobilized from subscribers in the...

Sighah

Arabic (صيغة) for contractual formula (formula of a contract/ aqd). A formal exchange of offer/proposal (ijab or 'ardh) and acceptance...

Sukuk al-Istisna’a

Certificates of equal value (sukuk) that are issued for the purpose of mobilizing funds to be used in the production...

Sale of Usufruct

From the Arabic term "ba'i al-istighlal". According to latter-day Hanafi scholars, it is a type of sale (ba’i) in which...

Sale and Buy-Back

English for ba'i al-inah (also ba'i al-einah); a contract that involves the sale and buy back of an object (commodity,...