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Islamic Finance




Tamkin


Arabic (تمكين) for the process or act of enabling a party, to whom ownership of an asset is transferred, to make unfettered use of that asset. As a result, such a party assumes any liability that may arise in association with the asset.

For example, a seller in a contract of sale (aqd al-ba’i/ aqd al-bay’) must enable the buyer, after payment of the price (thaman), to make full use of the object of sale by tamkin.



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