Arabic (محاباة) for deference in a transaction. More specifically, it means a favor extended in an exchange-based transaction, either by…

Arabic (انتفاع) for utilization. In other words, it is the process of taking or extracting usufruct (manfa’ah) from something (asset,…

Arabic (إرصاد) for allocation of a public property for public use/ utility. This happens when government authorities earmark and allocate…

An agreement that incorporates the sale of the leased asset (in an ijarah contract) at the end of the lease…

Arabic (إجارة الذمة) for an ijarah which has a described usufruct (manfa’ah mawsufah fi zhimmah) as underlying. The lessor is…

Arabic (عزيمة) for strictness and resoluteness in the implementation or practice of shari’ah rules (ahkam), prescriptions, ordinances, etc. In other…

In Arabic iflas (إفلاس). In general, it is a situation when a person runs short of funds. The bankrupt person...

It stands for Islamic capital market; the market in which Shari’ah complaint securities/ assets (capital instruments) such as equities, sukuk,...

The market in which Shari’ah complaint securities/ assets (capital instruments) such as equities, sukuk, and other securities are traded. The...

In Islamic finance, it is a contract (of bay') whereby a supplier agrees to deliver a specific commodity/ item to...