| Term | Definition | |
|---|---|---|
| 1 | 'Aqd | Contract |
| 2 | Bai' | Sale |
| 3 | Bai' Bithaman Ajil | A contract of sale and purchase of an asset in which the payment of price is deferred and paid in installment within an agreed period of time. The selling price includes profit |
| 4 | Bai' Dayn | |
| 5 | Bai’ ‘Inah | Buying and selling something that does not exist |
| 6 | Bai' Ma'dum | A contract of sale and purchase of an asset in which the contracting parties agreed on the exchange of the asset and the price without verbal or written ijab and qabul |
| 7 | Bai' Mua'toh |
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| 8 | Bai' Muzayadah | Sale by auction |
| 9 | Bai' Salam | Refers to an agreement whereby payment is made immediately while the goods are delivered at an agreed later date. It is equivalent to an advance payment |
| 10 | Bai' Sarf | Refers the buying and selling of foreign currencies |
| 11 | Dalil | Evidence, indicative legal text |
| 12 | Dayn | Debt |
| 13 | Dharurah | Necessity |
| 14 | Fatwa | Decree, religious edict from a qualified scholar |
| 15 | Fiqh Muamalat | Islamic Commercial Law |
| 16 | Fuqaha' | Islamic jurist |
| 17 | Gharar | Element of uncertainty and/ or deceit |
| 18 | Hadith | Prophetic tradition |
| 19 | Halal | Lawful |
| 20 | Haq | Right |
| 21 | Hawalah | Debt assignment contract |
| 22 | Hibah | Gift. An act of transferring of ownership of an asset or usufruct without an exchange of counter value during the lifetime of the transferor |
| 23 | Hukm | Shariah ruling |
| 24 | Ibra' | Rebate. Waiving partially or totally a right to claim a debt |
| 25 | Ijarah | Leasing contract. A contract between a lessor and a lessee in which the lessor being the owner of the property allows the lessee to enjoy the usufructs of the property at agreed terms on the rental and period of lease |
| 26 | Ijarah Thumma al-Bai' | A contract of lease which subsequently followed by a sale contract |
| 27 | Ijma' | Consensus of Islamic scholars and jurists |
| 28 | Ijtihad | Reasoning by qualified scholars to obtain legal ruling from the sources of the Shariah |
| 29 | 'Illah | Cause |
| 30 | Istihsan | Juristic preference, disregarding a hukm backed by a dalil and supported by another hukm that is sounder |
| 31 | Istisna' | Sale and purchase by order |
| 32 | Jahalah | Ignorance or lack of knowledge |
| 33 | Kafalah | A contract of guarantee in which one party guarantees the fulfillment of a claim or performance of an obligation which is due to another party in a case of default. Synonym: Dhaman |
| 34 | Mal | Asset or property |
| 35 | Maslahah | Consideration of public interests |
| 36 | Mazhab | School of thought |
| 37 | Muamalah (singular) / Muamalat (plural) | Transaction(s) |
| 38 | Mudharabah | A partnership in profit whereby one party provides capital (rabb al mal) and the other party provides labour (mudharib) |
| 39 | Muqasah | Settlement of debt by set off |
| 40 | Murabahah | Cost plus profit sale |
| 41 | Musyarakah | Partnership |
| 42 | Musyarakah Mutanaqisah | A form of partnership in which one of the partners promises to buy the equity share of the other partner gradually until the title to the asset is completely transferred to him |
| 43 | Nas | Explicit legal text |
| 44 | Qabd | Taking possession and having control of purchased asset |
| 45 | Qiyas | Analogy |
| 46 | Qardh | Islamic loan |
| 47 | Rahn | Pledge or Collateral |
| 48 | Riba | Usury |
| 49 | Sadd Zari'ah | Blocking the means to something (evil) |
| 50 | Sahibul Mal | Capital Provider |
| 51 | Sahih | Valid or authentic |
| 52 | Sorf | Contract of currency exchange |
| 53 | Sukuk | Financial notes/documents whose value is backed by certain assets |
| 54 | Ta'widh | Compensation charged to a debtor for late payment |
| 55 | Tawarruq | An arrangement that involves a purchase of an asset based on Musawamah or Murabahah and a subsequently sale of the same asset to a third party in order to gain cash money |
| 56 | Ujrah | Service fee |
| 57 | Ulama' | Islamic scholars |
| 58 | 'Urbun | Earnest money, down payment |
| 59 | Urf | Customary practices |
| 60 | 'Uqud mu'awadat | Exchange contracts |
| 61 | Wa'd | Promise |
| 62 | Wa'd Mulzim | Binding promise |
| 63 | Wadi'ah yad Dhamanah | A guaranteed safe keeping contract |
| 64 | Wakalah | A contract where a party authorises another party to act on behalf of the former as long as he is alive |