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Ajr Musamma

An Arabic term (أجر مسمى) that generally translates as stipulated remuneration, wage, recompense, consideration, commission, rate, price, or fees, among...

Agent’s Remuneration

In Arabic ajr al-wakeel/ ajr al-wakil (أجر الوكيل). In wakalah/ wakala (agency), and its forms, it is the total amount...

Sukuk al-Wakalah Bil Istithmar

Arabic (صكوك الوكالة بالاستثمار) for agency certificates; a type of sukuk (pl. of sakk) in which the underlying contract is...

Ajr al-Wakalah

An Arabic term (أجر الوكالة) that translates as agent's remuneration. In wakalah/ wakala (agency), and its forms, it is the...

Ajr al-Wakeel

An Arabic term (أجر الوكيل) that translates as agent's remuneration. In wakalah/ wakala (agency), and its forms, it is the...

Binding Wakalah

A wakalah contract (aqd al-wakalah) that is binding on either party or both (wakalah mulzimah). While wakalah is essentially not…

Letter of Credit

A modern application of guaranties that constitutes a guaranty issued by a bank on behalf of a local merchant, securing…

Binding Agency

An agency contract (aqd al-wakalah) that is binding on either party or both (wakalah mulzimah). While agency is essentially not...

Agency-Based Contract for Investment

An investment contract that is based on investment agency (wakalatul istithmar/ wakalah bil istithmar) where the investment account holder appoint...

Agency-Based Investment Contract

An Islamic investment contract by virtue of which holders of investment accounts (IAHs) appoint the Islamic bank to undertake the...