Search
Generic filters
Filter by Categories
Accounting
Banking

Islamic Finance




Ajr


An Arabic term that generally translates as remuneration, wage, recompense, consideration, commission, rate, price, or fees, among others. Ajr is usually paid or charged against services rendered, work done, tasks performed, etc. For example, in an employment contract, ajr is the salary or wage paid by an employer to an employee in return for the work done by the latter.

Ajr may come in many forms including market rate of compensation (or rate of comparables, ajr al-mithl) or remuneration unilaterally set and offered by a party commissioning another (like in a contract of jualah or wakalah, etc.)

Ajr may also denote ujrah/ ujra.



ABC
The last three decades have witnessed the modern rebirth of Islamic finance both in terms of literature and practice. Islamic banks and ...
Watch on Youtube
Remember to read our privacy policy before submission of your comments or any suggestions. Please keep comments relevant, respectful, and as much concise as possible. By commenting you are required to follow our community guidelines.

Comments


    Leave Your Comment

    Your email address will not be published.*