Arabic (غبن يسير) for a slight or minor ghabn; ghaban is a fraudulent practice by which one party to a...
Certificates of equal value (sukuk) that are issued for the purpose of mobilizing funds to be used in the production…
In essence, fintech/ FinTech refers to the use of financial technology (such as smart phones and devices for online payment,…
Arabic (غبن يسير) for a slight or minor ghabn; ghabn is a fraudulent practice by which one party to a...
The mudarib’s (mudharib’s) laxity that results in his nonfulfillment of his duties under the contract of mudharaba/ mudaraba (aqd al-mudharaba/…
An approach for performing audits (both financial and Shari’ah) with a specific focus on associated risks and risk-related areas that…
Arabic (رخصة) for a dispensation or permission or exemption as given by shari’a to Muslims in specific circumstances (e.g., illness,…
An agency contract (aqd al-wakalah) in which the principal (muwakkel) restricts the acts or discretion of the agent (wakil). For…
Arabic (Ø±Ø¨Ø Ø§Ù„Ù…Ø«Ù„) for matching rate of profit or prevalent rate of profit or benchmark/reference profit rate. It refers to…
A form of waqf (Islamic endowment) whose assets are intended for investment (i.e., generating income). The income generated from managing…
