Filter by Categories
Accounting
Banking

Islamic Finance




Khiyar al-Radd bil Aib


Arabic (خيار الرد بالعيب) for an option (khiyar) to return an object of sale to the seller due to defect (‘ayb‘aib)- that is, because it turned out to be defective. For example, a person purchased a car from another, and it transpired that the car was not working properly due to some hidden defect (a defect unseen at the time of sale). In this case, the buyer has the right to return the car to the seller and recoup the price (thaman) he had paid, based on khiyar al-radd.



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    Your email address will not be published.*