Arabic (ركن) for one of the pillars/ elements/ cornerstones of a contract (aqd- عقد). The primary arkan (pl. of rukn)...

An agency in which remuneration (ajr or iwadh) is explicitly stipulated and specified in the agency contract (aqd al-wakalah/ aqd…

A contract (aqd) which exists by itself and is not subordinate or auxiliary to another contract (i.e., an accessory contract).…

Arabic (عقد معاوضة) for compensatory contract (commutative contract) whereby one party receives compensation/ consideration (iwadh) from another party in return...

Arabic (عقد التبرع) for noncommutative contract or gratuitous contract. This type of contracts (aqd) is based on voluntary charitable actions/donations…

A sale (bay') that involves the exchange of an asset for specified monetary units (the price/ thaman). With respect to...

Arabic (شبهة الربا) for potentiality of riba or suspicion of existing of riba in a transaction or dealing. In other…

Arabic (دين موثق) for debt (dayn) that is backed by an asset (collateral or rahn) owned by the debtor (madeen)…

In the context of Islamic financial mua’amalat, an aqd lazim (عقد ملزم) refers to a valid and effective contract (aqd)...

Arabic (إقالة العقد) for the revocation of a contract (aqd) (which is, nevertheless, a valid contract) by mutual agreement of...