Search
Generic filters
Filter by Categories
Accounting
Banking

Islamic Finance




Dhaman al-Darak


An Arabic term that denotes misrepresentation guarantee. It is a third-party’s guarantee which secures refunding the price to the buyer if the sold commodity appears to be legally owned by a person other than the seller. In other words, the seller of a property is sometimes asked to provide a surety against any defect in the title of that property, by virtue of which, the buyer has the right to rescind the contract and redeem his money.

Dhaman al-darak is also referred to as dhaman al-uhdah.



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    Your email address will not be published.*