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Receivables

The amounts which are due from an Islamic bank’s clients as a result of sale transactions that are based on…

Memorandum of Understanding for Mudarabah Financing

Mudarabah is a form of sharakah (partnership) in profit (ribh) whereby one party (rab al-mal) provides capital and the other…

EIR

It stands for equity investment risk; a type of risk that is associated with an Islamic financial institution's equity investments...

Equity Investment Risk

A type of risk that is associated with an Islamic financial institution's equity investments (investments in equity) such as stock...

Purchase Orderer

The party (in Arabic الآمر بالشراء) to a murabahah contract/ cost-plus sale (specifically murabahah to the purchase orderer) who approaches…

Profit and Loss Sharing Contract

In Arabic musharaka (مشاركة). It is a partnership mode of Islamic finance in which partners contribute equal or unequal ratios…

Mustawriq

The party who seeks liquidity from entering into a tawarruq (Islamic monetization). In Arabic script, mustawriq (also mutawarriq) is written:…

Khayar al-Naqd al-Islami

An Islamic finance treasury arrangement that an Islamic bank and a counterparty enter into for the purpose of foreign exchange…

Operational Risk

The risk that affects the operations of an Islamic bank (Islamic financial institution– IFI) including the risk of loss arising…

Promissory FX

A financial instrument that contains an unconditional promise by one party to enter into a foreign exchange transaction with another…