Islamic Finance
Difference Between Conventional Option and Islamic Option
August 27, 2021
Islamic Finance
What is the Difference Bay’ al-Tawarruq and Bay’ al-Inah?
August 27, 2021

Arabic (تقرير) for tacit approval. It refers to what the Prophet Muhammad (pbuh) approved, verbally or silently, in the actions or sayings of others. For example, the Prophet was reported to have smiled after one companion told him that he [the companion] had acted in a specific way on a specific occasion. The Prophet’s smile is tacit approval of the companion’s act.

Taqrir is part of Sunnah (in addition to actions and sayings of the Prophet (pbuh)).

On a different note, taqrir may refer to the process of preparing and circulating financial reports or it may also refer to a financial report (pl. taqarir). For more on this specific meaning of taqrir, see financial report/ financial reporting.

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