Empowering Muslims to benefit society through faith-based campaigns

Events

HomeIslamic Finance Glossary

‘arāya
the sale of fresh dates in exchange for dry ones

‘ayb
defect; shortcoming

‘ayn ḥāḍirah
tangible asset

‘aqd al-mu‘allaq
contingent contract

al-‘uqūd al-māliyya
pecuniary contracts

‘uqūd al-mu‘āwaḍah
contracts of exchange

‘uqūd al-tabarru‘
charitable contracts

‘uqūd al-tamlīk
proprietary contracts

‘urf
custom, usage

a‘yān
unique objects

‘ādah
custom, habit, usual practice

ahl al-ḥadīth
jurists who follow the apparent meaning of ḥadīth

ahl al-ra’y
jurists who discover the meanings of ḥadīth using a largely rationalist approach

akl al-māl bi-l-bāṭil
unlawful consumption of the property of others

amīn
trustee

al-Anṣār
literally “the helpers”. They were companions of the Prophet Muhammad (pbuh) who were inhabitants of Madīnah, the city to which the Prophet emigrated

bay‘ al-a‘yan
sale of a uniquely identifiable (i.e. nonfungible) object

bay‘ al-dayn bi-l-dayn
debt clearance sale

bay‘ al-fāsid
voidable sale

bay‘ al-ghā’ib
sale of the unseen

bay‘ al-gharar
sale involving impermissible risk

bay‘ al-‘īnah
combination of deferred sale and cash sale between two parties in order to replicate an interest-bearing loan

bay‘ al-kāli’ bi-l-kāli’
sale of one debt for another

bay‘ al-ma‘dūm
sale of the non-existent object

bay‘ al-mu‘ātāh
give and take sale

bay‘ al-maghṣūb
sale of a usurped object

bay‘ al-majhūl
sale of the unknown