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Aks al-Einah

Arabic (عكس العينة) for reverse sale and buy-back; a form of einah sale (بيع العينة) in which a commodity is sold...

Unnamed Contract

A class of contracts to which shari’a neither assigned specific names nor handled in details their respective rules and stipulations....

Gharar Kathir

An excessive degree of gharar that renders a contract or transaction void from a shari'a point of view. Gharar represents...

Mukharajah

Arabic (مخارجة) for a composition that is entered into by joint heirs to property, whereby some waiver their shares in...

Al-Thaman

The price or monetary amount of an object of sale (tangible like commodities or intangible like services), i.e., what is...

Service Agency Agreement

An item of sukuk documentation which constitutes an agreement between the seller and a special purpose vehicle (SPV) or the...

Shart Batil

Arabic (شرط باطل) for a shart (condition) in a commutative contract that leads to an impressible outcome (haram). For example,...

Al-Shart al-Batil

A shart (condition) in a commutative contract that leads to an impressible outcome (haram). For example, a shart batil may...

Bay’ al-Mawquf

A type of sale (ba'i) which is lawful in substance and description but is concluded by, or with the intervention/...

Hikr

Arabic (حكر) for a lease contract (ijarah) that is concluded for the purpose of keeping an endowed land (ardh mawqufah)...