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Sharia Terms Glossary

Sale

Curious (Fadooli)

Profit (Murabaha)

Repay (Wafaa)

Exchange

Commercial Insurance

Anan

Sale Interest (Ribaa)

Ibdhaa

Softagah

Cost of Purchase

Benefit

Mortgage

Donation

Ownership

Obligatory Contract

Guarantee

Unconditional Modharaba

Installment Sale

Eenah Sale

Murabaha Sale

Salam Sale

Deception in Sale

Co-operative Insurance

Simple Credit

Loans Interest

Wage

Value

Hibah (Donation)

Profit

Eligibility

Letter of Credit

Moqayazah

Conditional Motharabah

Two Sales in One

Selling on Sale

Naseeah Sale

Istisnaa

Islamic Bank

Real Estate

Lending

Deposit

Will

Debt

Right

Promissory Note

Optional Contract

Proxy

Leasing

Tawliyah Sale

Wadheeah Sale

Insurance

Dignity Company

Honesty

Price

Loan

Utilized Money

Deposit

Endowment (Waqf)

اLiability

Cheque

Termination

Modharaba

Awakil

Mowalat Contract

 

Exchanging money with money and also called purchase.
Selling others’ belongings without their legal permission.
Selling something with its cost plus some declared profit.
Selling something provided that seller repays the price and gets the commodity back.
Selling cash by cash.
An agreement between two parties where the first party declares to compensate the second party for any material loss that might be caused by any accident provided that the second party pays some premium to the first party.
Anan company is a contract between two or more where they share both money and effort.
It is the uncompensated interest in a money-to-money exchange.
Donating money to someone to trade and profit goes to the owner.
To give someone money to secure his way provided he repays his money in his country when coming back.
The basic cost or price of commodity plus freight, insurance, transportation, customs expenses, etc.
The service provided by a person or utilizing something against some cost by leasing or free of charge by lending or by will.
Retaining something to secure some debt until fully repaid.
Donating something or benefit free of charge.
Owning something or putting it in custody and possession.
A contract that cannot be terminated at the discretion of one of its parties.
Sharing liability of someone by someone else.
Sharing trade without constraints of time and place or type of trade or parties thereof.
A type of Naseeah sale where the commodity is sold and price is delayed in full or at part and to be paid in pre-defined installments.
This type of sale has various types, the most famous of which is to sell a commodity at a price to be repaid on a specific date and repurchases the commodity with less price and gets the original price at the end of the agreed period. Then, the difference in the two prices is interest (ribaa).
اTo purchase some thing for someone at an agreed profit.
To sell something not yet available at a ready payment.
Deception by hiding the faults of a commodity.
It is a donatory fund to which a group of individuals participate and if any of this group suffers any loss due to some risk, this individual gets compensated from that fund by distributing the loss among all donors.
put some amount by a bank at the disposal of its customer to avail of when necessary.
It is the most vivid type of ribaa (interest) where some amount is added to the original amount without a selling process involved. It is the interest taken by a creditor in lieu of delay.
It is the money given against some specific utility as agreed between two parties.
It is the value assigned for something without any increase or deduction.
To give money or something to someone without return.
It is the increase incurred from sale.
The qualification of human being to obtain rights and perform duties.
It is a letter issued by a bank to pay a debt of any of its bankrupt customers during a specific period.
Exchanging a commodity with another.
It is some type of motharabah that is bound by time, e.g. for a year, or by location, or some sort of trade, as to trade in electrical equipment.
To tell someone that you sell him something in cash for some price and in installments for some other price and they leave each other. On that, we have two contracts on the same commodity with two different prices and no specific agreement on either time or contract.
To competitively sell something to someone with less price or to offer something better for the same price after initial selling is performed.
To sell something on credit.
A contract where labor is involved as to agree with a tailor to sew a cloth with specific details provided that the fabric is from the tailor.
It is a financial banking institution that gathers money and deploys it in compliance with Islamic sharia laws.
It is that that cannot be transferred, such land, or that can be shifted but with some changes, such as buildings and trees.
To temporarily grant benefit of something without any return.
To put someone’s money with another to keep.
To grant possession of money or benefits after death.
The liability caused by loan, credit purchase, etc.
It is anything assigned by law to someone to be qualified for some authorities or obligations.
It is an official document where a debtor commits to pay a specific amount on a specific date to some creditor or promissory note holder.
A contract that can be terminated upon the wish of either of its parties.
An authorization granted to someone on some transferable authority.
Selling utility, or granting ownership on some utility against some money for a specific period.
It is to sell something for the same cost without profit.
It is to sell something for price less than its cost.
تIt is a type of security where the insurer is committed to pay money to the insured in case a risk is realized.
A contract between a group of respectful people who have no money. Alternatively, they buy on credit and sell in cash and distribute profits as and when guaranteed.
Availability of money of others with someone, like deposits or leased properties.
The money given in substitute for the sold commodity.
Giving money to someone to utilize and repay later.
A thing that can be utilized without being consumed, such as a house.
To put someone’s money with someone else to keep.
To keep the original property and use its utilities.
An abstract location in a person where debts and obligations lie.
An order issued to a bank to pay some money to someone to its holder.
To cease a contract or deem it to be null and void.
It is a contract where profit is shared provided that money is given by one party (money owner) and work is performed by the other party (worker). Here, profit is distributed as initially agreed.
Relatives of someone from the side of father such as cousins and brothers and their sons.
A contract between an un-heired person and someone who accordingly commits to pay for the liabilities of that person after his death in return for all his wealth.
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