Glossary of Terms (ENG)

ISLAMIC GLOSSARY
S.no Term Glossary

People who have ethnical relationship or relationship of cooperation and help
1 Aaqilah with an unintentional killer. They are legally obliged to bear blood money along
with the killer.
Slave; servant; abd madhun is a slave who has been authorized by his master to
2 Abd
handle business on his behalf
Covenant; here it is used in the context of dhimmah (personality), which is
3 Ahd
considered by the jurists a covenant with the Creator.
4 Amal Work; conduct.
5 Aqd Agreement, contract.
6 Aqd ghayr 'Azim a contract that is terminable at the will of the parties, like partnership.
7 Aqd Sahih A legal contract.
Reason; fourth interest secured by the Shari‘ah and recognized as a purpose of
8 Aql
the law; the existence of aql is an essential condition for ahliyat al-add.
The corpus or substance of a thing. A thing present as distinguished from one that
9 Ayn is absents at the time of the contract. In Hanafi terminology, a thing is to be
determined through weight or measure during a transaction of sale.
10 A 'yaan Plural of ayn. Goods or specific thing
11 Abddan Sharikat al-abddan
12 Accrued Interest Interest that accumulates on the unpaid principal balance of a loan.
13 Accrued Profit Profit earned but not received from the customer.
Acquirers are banks and financial institutions that collaborate with businesses to
14 Acquirer
accept credit/debit card payments.
Additional Unit Excess purchase of units in Diminishing Musharakah to reduce bank's share in the
15
Purchase asset
Punishment, especially the punishment for failing to obey Allah Taala. see the
16 Adhaab / azab
Holy Quran
Justice and equity. A fundamental value governing all social behavior and forming
17 Adl / adil
the basis of all social dealings and legal framework
18 Advance Booking Booking of vehicle with the manufacturer through advance payment.
19 Advance Rental Payment in the form of rent before the start of the lease term.
20 Afdal The best
Relating to Islamic banks, refers to investment contracts where the investment
Agency-based
account holders appoint the Islamic bank as agent for investing their funds for a
21 contract for
specified fee and share of profit if it exceeds a certain level, the latter being an
investments
incentive for the Islamic bank to achieve a return higher than expected.
Agreement
22 Charges paid by the customer for stamping of financing agreement.
stamping charges
After Hijra. Hijra means emigration. The Islamic calendar starts from the day the
23 AH Holy Prophet Muhammad (S.A.W.), emigrated from Mekkah to Madinah, in 622
A.D.
Ahadeeth also
24 Sayings and traditions of the Holy Prophet Muhammad (S.A.W.). Singular: Hadith.
spelled Ahadith
Plural of hukm (rule); the ahkam of a contract (legal effects) as distinguished from
25 Ahkam its huquq(rights of performance of the contract) the Hanna’s make a distinction
between the two.
Means people of opinion. It is refers to people that are consulted on Islamic
26 Ahl ar-ray
matters. These people are highly learned in Islam.
27 Ahliyah Legal capacity
Glossary of Islamic Terms Page 1 of 26

28 Ahliyat al-ada' Legal capacity for execution
29 Ahliyat al-wujub Legal capacity for the acquisition of rights and obligations.
Ahlul Kitab Literally means "the People of the Book (the Holy Quran) and the sayings and
30
Wa Sunnah traditions, i.e. the Sunnah of Prophet Muhammad (S.A.W.)".
31 Ajal Period; duration for which delivery is delayed.
32 Ajanib Plural of ajnabi (stranger); those who are not co-owners in a property.
33 Ajnabi stranger; see ajanib
Ajr al-mithl / Reasonable wages; wages to which a person would be entitled under normal
34
Ajrul Mithl circumstances or customary in the community.
35 Al Hisba System of accountability in an Islamic state in order to check unlawful practices.
Al-Aamilu-Alaz-
36 Zakah collector.
Zakah
A contract of sale. Tech: Sale of definite goods or property with the free consent
37 Al-bai of parties for a definite price. It involves proposal (’ Ejab) and acceptance (qabul).
It has many types.
An agreement of sale which is unlawful in respect of its substance and
38 Al-bai‘ al-batil
description.
39 Al-bai‘ bil takhir A contract of sale in which the payment has been deferred.
Al-khardj bi al- a principle based upon a tradition; it is perhaps, the most influential principle in
40
damdn Islamic law, applies to contracts, damages, and even crimes.
41 Al-Mofaviza General Partnership (one of the types of partnership under Musharakah)
42 Al-Qard al-Hassan Loans fixed for a definite period of time without interest or profit sharing.
Al-sharikah dhat
43 al-mas 'uliyah al- the name for a private limited company in Egyptian law
mahdudah
A contract of partnership in an income-generating asset or venture, according to
which one partner ends up owning that asset or venture at an agreed time
Al-shirkah al-
44 schedule. One form of a ‘diminishing partnership’ is where the bank’s share is
mutanaqisah
sold to the other party at a nominal value utilizing the income generated from the
asset itself.
Al-wadia / Al- This refers to deposits in trust, in which a person may hold property in trust for
45
wadi'ah another, sometimes by implication of a contract.
Al-wakala al Resale of goods with a discount on the original stated cost. Absolute power of
46
mutlaqa attorney.
Legal contract implying an enforceable act involving a bilateral declaration,
47 Al-‘aqd
namely, the offer (’Ejab) and the acceptance (qabul).
Alaihis Salaam / May Allahs peace be upon him. A phrase which is usually read after the name of
48
A.S. a prophet other than Prophet Muhammad (S.A.W.) is mentioned.
49 Alim An Islamic religious scholar. Plural: Ulamaa.
The Name of the Creator of the Universe and all that it contains according to
Islam. Derives from the word "Ilah" which means "the One deserving all worship",
50 Allah the One to Whom all hearts submit in love, fear, reverence, desire, trust and
sincerity, and to Whom all limbs submit in all forms of worship such as prayers,
supplications, sacrifices, invocations, etc.
Socially obligatory duties. Literally, a collective duty of Muslims, the discharge of
which by some of them absolves the rest of its performance, such as funeral
51 Al Fard al Kifayah prayers. Technically it covers such functions which the community fails to or
cannot perform and hence are taken over by the state, such as the provision of
utilities, building of roads, bridges and canals etc.
Lit: reliability, trustworthiness, loyalty, honesty; Technically, an important value of
52 Amana / Amanah
Islamic society in mutual dealings; anything, which is in possession of a person

who is not the owner of it for safekeeping. In case of unintended loss to the thing,
he is not obliged to pay compensation.
53 Ameen / Amin Custodian or guardian; trustee.
54 Amir Amir is used in Islam to mean leader or commander.
Loan payments by equal periodic amounts calculated to pay off the debt at the
55 Amortization
end of a fixed period, including accrued interest on the outstanding balance.
Amortization Information of Equal Monthly Installments (EMI) with breakup of principal &
56
Schedule markup along with loan outstanding.
Wealth; in business context wealth that is contributed as capital in a partnership;
57 Amwal
Plural: mal.
Annual Fee / An annual fee typically charged to customers with credit cards/revolving line
58
Renewal Fee facilities for maintenance of their facilities.
59 Applicable rate Rate applied on the facility.
A form to be filled in and signed as per the Bank’s requirements to avail Banking
Application/Loan
60 facilities. Requirement of details to be filled in will vary for each facility.
application form
Applications may also require certain specified documents also to be attached.
61 Appraisal Agency Agency used for assessing market value of an Asset.
62 Aqeeda Literally means belief. In Islamic terminology, it means articles of faith
The land assigned to the welfare of the community either by the Islamic state,
63 Ard al-waqf
corporate bodies or by individuals.
land; property that includes goods, slaves and even real estate; according to most
jurists land is not eligible for entitlement to profit as compared to other things
64 Ardh / Ardhqw
that are: wealth, labor, credit-worthiness qiyas (analogy); a principle of law;
principal amount in a debt; see A’s al-mal.
Athaman
65 Absolute currencies; the term is usually applied to dinars and dirhams.
mutlaqah
An automated teller machine or any card-operated machine or device whether
belonging to the Bank or other participating banks or financial institutions or
66 ATM
concerns or to the Visa Card or MasterCard global ATM Network, or the affiliated
networks thereof, as the case may be, which accepts the Card.
67 Auto Loan The loans or financing facilities to purchase the vehicle for personal use.
A religious foundation set up for the benefit of the poor; property voluntarily
68 Awkaf/ Awqaf
transferred to a charity or trust so that it is use for public benefits.
69 Ayah A verse of the Holy Quran. Literally means "a sign". Plural: Ayaat.
plural of amal (work) that is required in a partnership or based on which a
70 A’mal
partnership is formed
71 Badal Substitute; substitute compensation.
Sale; Commonly used as a prefix in referring to different types of sales: Muajjal,
Murabahah, Tawliyah and Wadiah; comprehensive term that applies to sale as
72 Bai / Bay’
well as many other transactions that are not strictly referred to as sales in positive
law; bilateral contract; exchange.
This term refers to advance payment for goods which are to be delivered later.
Normally, no sale can be effected unless the goods are in existence at the time of
the bargain. But this type of sale forms an exception to the general rule provided
the goods are defined and the date of delivery is fixed. The objects of this type of
sale are mainly tangible things but exclude gold or silver as these are regarded as
73 Bai al-salam
monetary values. Barring these, bai salam covers almost all things which are
capable of being definitely described as to quantity, quality and workmanship.
One of the conditions of this type of contract is advance payment; the parties
cannot reserve their option of rescinding it but the option of revoking it on
account of a defect in the subject matter is allowed. It is also applied to a mode of

financing adopted by Islamic banks. It is usually applied in the agricultural sector
where the bank advances money for various inputs to receive a share in the crop,
which the bank sells in the market. This kind of sale (Salam) also used nowadays
as a mode of financing that is also called ‘Parallel Salam’.
Bai al Dayn bi The exchange of a debt for a debt (prohibited based on a tradition and
74
addayn unanimously by the jurists based on ijma).
In modern Islamic banking, the term refers to a buying and selling transaction
between the bank (or financial institution) and the customer, whereby the former
Bai Bithaman Ajil buys a property (or an asset, e.g. a house) at the prevailing market price and sells
(Al) / Al-Bay- it to the customer at a mark-up price where payments are made by installments
75
Bithaman Ajil over a period of time agreed upon by both parties. The profit earned by the bank
(BBA is legitimate from the Shari‘ah point of view since the transaction is based on
sales contract rather than a loan contract. Any predetermined profit arising from
the loan is prohibited in Islam as it amounts to Riba.
Sale based on deferred payment, either in a lump sum or instalments.
1) A sale in which the parties agree that the payment of price shall be deferred is
called a Bai Muajjal.
2) Bai Muajjal is valid if the date of payment is fixed in an unambiguous manner.
3) The date of payment can be fixed either with reference to a particular date,
or by specifying a period, like three months, but it cannot be fixed with
reference to a future event where the exact date is unknown or uncertain. If
the time of payment is unknown or uncertain, the sale is void.
4) If a particular period is fixed for payment, like one month, it will be deemed
to commence from the time of delivery, unless the parties have agreed
otherwise.
5) The deferred price may be more than the cash price, but it must be fixed at
the time of sale.
6) Once the price is fixed, it cannot be decreased if it was paid earlier, nor can it
Bai Muajjal / Bay
76 be increased in the case of default.
Muajjal
7) In order to ensure the buyer pays the installments promptly, the buyer may
be asked to promise that in the case of default, he will donate some specified
amount for a charitable purpose. In such cases, the seller may receive such an
amount from the buyer, not as part of his income, but to use it for charitable
purposes on behalf of the buyer.
8) If the commodity is sold on installment, the seller may put a condition on the
buyer that if he fails to pay any installment on its due date, the remaining
installments will become due immediately.
9) In order to secure the payment, the seller may ask the buyer to furnish a
security whether in the form of a mortgage, a lien or a charge on any of his
existing assets.
10) The buyer can also be asked to sign a promissory note or a bill of exchange,
but the note or the bill cannot be sold to a third party at a price different from
its face value.
Sale of debt for cash. For being compatible with the sharW‘ah, the sale must be at
77 Bai‘ al-dain
par value.
78 Bai‘ al-gharar A sale involves a substantial element of chance or uncertainty
A sale in which both the delivery of the object of the sale and the payment of its
79 Bai‘ al-kali bil kali
price are delayed.
Conditional sale. A sales contract that provides an option to the buyer to annul
80 Bai‘ al-khiyar
the deal.
81 Bai‘ al-muqayadah Selling a commodity for another commodity.

A contract of sale where a person sells an article on credit and then buys back at a
82 Bai‘ al-‘Inah
lesser price for cash.
A sale whereby both parties express trust in each other. Examples: bai‘ al-wafa,
83 Bai‘ al-’amanah
bai‘ al-talji’ah, bai‘ al-wadWyah, Murabahah, etc.
A form of sale whereby the buyer keeps on taking the goods from the seller as
84 Bai‘ al-’istijrar and when needed with or without settling the price and then settles the account
later on.
A contract of sale whereby the purchaser asks the seller to manufacture a
85 Bai‘ al-’istisna’ specifically defined product using the seller’s raw materials at a given price to be
delivered at a specified place.
Balance Transfer
86 Balance transfer of existing finance facility of borrower from other banks/DFIs.
(BTF)
Balance Transfer An account in the name of the customer will be opened for the purposes of the
87
Account facility.
Mature person; person who has attained puberty, the outward sign of majority
88 Baligh and discretion, in the absence of which jurists determines different ages for the
presumption of puberty.
Payment by customer in addition/additional/excess to the installment amount to
89 Balloon Payment reduce the principal outstanding. Excess payment by the customer to reduce
principal outstanding.
Bank Investment
90 Ratio of bank's investment in an asset against the value of that asset.
Ratio (BIR)
91 Banker's lien Bank's charge on the asset.
92 Base rate Benchmark rate for driving the pricing of loan.
93 Batil Nullity; void, void ab initio.
94 Baytul Mal The treasury of an Islamic state.
95 Billing cycle Date of a month when bill/statement is generated.
96 BOQ Bill of quantity - Break up of amount in construction cases.
BRP (bankers ratio Percentage share of profit due to financier in the profit of an enterprise financed
97
of profit-sharing) on the basis of Mudarabah or Musharakah.
Goods given to another for trading without giving wages or sharing profits (like a
98 Buda’ah
shopkeeper leaving his shop with another shopkeeper during his absence).
99 Bulugh The attainment of puberty; see baligh.
100 Business person Individual having his own business.
101 Butlan See Batil.
A mode of financing adopted by banks in Pakistan. According to this mode, the
bank purchases goods, equipment or property for the client with the agreement
102 Buy-back
that the client would buy it back from the bank at a higher price, to be paid later
by the client.
Relating to an Islamic Fund, they are additional funds collected from investors in
Capital the fund to finance needs that may arise in the future as the fund manager
103
contributions considers appropriate. New shares/units are not issued in exchange of these
capital contributions.
With reference to an Islamic Fund, they include the sale of units/shares, and the
Capital
104 number of units/shares issued on reinvestment of distributions/dividends less the
transactions
value of units/shares returned.
The applicable Visa Card, MasterCard and / or any other card including but not
limited to co-branded cards, e-card, debit card the second card as issued by the
105 Card
Bank, from time to time, to the Card member and shall include Supplementary
and subsequently issued, renewal or replacement Cards.

Visa/Master Card account or any account pertaining to the Card(s) issued by the
Bank from time to time, as the case may be, opened by the Bank for the purpose
106 Card Account
of entering debits / charges incurred by or for the account of, and credits received
by or for the Card member and Supplementary Card member.
A bank, financial institution, credit union, or agency that issues a card to public or
107 Card Issuer
its members is called a card issuer.
A person to whom the Card is issued by the Bank and shall also include every
108 Card member
Supplementary Card member.
Card Replacement
109 Fees to be charged by the bank for replacement of lost/stolen or damage card.
Fee
Any payment made or Cash Advance obtained or any amount to be debited from
110 Card Transaction the Card Account or any amount charged by the Bank or any Merchant for any
goods, services and other benefits by or through the use of the Card.
Amount of money in any currency availed or lent to the Card member by the Bank
111 Cash Advance or any participating bank or ATM whether in cash or in any other form of
payment.
One of the proposed monetary policy tools for the Islamic economy. The central
bank may open investment accounts in member banks in which it deposits
CDs (central whatever money it creates and from which it withdraws whatever money it
112
deposits) retires. Member banks may invest these deposits in the real sector in accordance
with the investment policy of each bank. Profits earned on such deposits may be
used to cover the cost of central bank operations.
Certificate of An Islamic financial instrument approved by the Corporate Law Authority of
113
Musharakah Pakistan in April 1995.
A credit card transaction, which is returned or not honored, is called a charge
back. Usually done by the credit card holder in response to faulty products, credit
114 Charge back
card fraud, a dispute or noncompliance with the rules and regulations, charge
back restores the funds back with the credit card.
Charge back it is a time period from a particular credit card transaction within which, the
115
period credit card holder must initiate a charge back, if the transaction is disputed.
The amount payable by the customer to the Bank under the Terms and
116 Charges Conditions, including but not limited to any transactions, Annual Membership ,
Services Fee, late fee and other fees / charges.
Means monetarily helping those in need. Customer is asked to undertake, that if
117 Charity he/she fails to pay rent on due date, he/she will pay certain amount to a charity,
which will be administered through the Islamic Bank.
Credit Limit which has been granted by the bank without any
118 Clean Limit
collateral/liquid/non-liquid securities.
When the property in question is free from any doubt is not disputed and is not
119 Clear title
having any encumbrances and it is said to have a clear title.
The amount payable (or available) as of last working day of the certain
120 Closing Balance
period/month.
121 Co borrower Secondary person applying for the loan with the primary person.
A co-signer is a person who signs a loan or credit card with the primary applicant,
122 Co-signer pledging to be responsible for repaying the loan or debt in the event the applicant
is unable.
An asset pledged to a lender to guarantee repayment. Collateral could include
123 Collateral savings, bonds, insurance policies, jewelry, property or other items that are
pledged to pay off a loan if payments are not made according to the contract.
124 Collector Bank employee responsible for collection/recovery.

Relating to Islamic banks, a form of Mudarabah in which a bank accepts funds for
Commingled investment and contributes its own funds as well. The profit and loss are shared
125
Mudarabah in agreed proportions and the bank also receives a share of the profit from out of
the share of investors for its role as Mudarib.
Commodity- A contract of Mudarabah wherein the owner of capital provides capital in the
126
Mudarabah form of stock-in-trade (‘urwd) and not cash.
Constant It is a Musharakah in which the proportionate shares of partners in the equity
127
Musharakah remain unchanged within the currency of the agreement.
Total amount payable by the Customer to the Bank for the Asset pursuant to the
128 Contract Price
Musawamah / Modarabah Transaction.
A financial profile of any person based on how he repays his bills, clears his debt
129 Credit History
and the amount a person owes to various banks and other financial intuitions.
It is the maximum amount of money one can draw on his account based on prior
sanction or approval from the bank. In other words, borrowing or drawing limit
130 Credit Limit
fixed by a bank for a customer depending on his credit history, repaying capacity
and relationship with bank.
A sale agreement on the basis of determined profit over the purchase price of the
131 Credit Murabaha
seller with the condition that the buyer will pay the sale price in future.
A credit rating is an evaluation of the credit risk of a prospective debtor (an
Credit rating /
132 individual), predicting their ability to pay back the debt, and an implicit forecast of
Score
the likelihood of the debtor defaulting.
Credit risk involves the risk that a counter-party to a contractual obligation, be it
133 Credit risk Murabaha, Mudarabah, ’ijarah, qard Hasan, ’ijarah wa ’iqtina’ or shirkah, would
default on the promised date of payment.
134 Cross sell Selling of product to already existing customer.
135 Current Customer making all the repayments on time.
Current Balance /
The total amount that customer owes to the bank for availing facility at a
Outstanding
136 particular point in time which may include all the charges (mark-up, late payment
Balance / Total
Outs charges, joining charges) fees (annual, renewal) & other liabilities.
137 Customer A person who is availing any facility or products of a bank.
138 D.C. A/C Demand Credit Account.
139 Dain/ Dayn Loan, due, receivable, debt.
140 Dar ul-harb Enemy territory not under the jurisdiction of a Muslim state.
141 Dar ul-Islam Area under the jurisdiction of the Muslim state.
142 Dealership Vehicle is being provided through dealership.
A ration of amount of money customer owe to banks or credit issuers against
Debt Ratio/Debt
143 total monthly income of a customer. It reflects the percentage of income that
Burden
goes to paying customer debts every month.
"When a customer fails to make any payment(s) due towards the bank as per the
terms and conditions agreed or otherwise is termed as default. Furthermore, a
Default/
144 breach of contract/terms and conditions may also be categorized as an event of
Delinquency
default. Account is classified as delinquent when loan payments are not paid
according to the contractually agreed upon terms or when due."
Delivery In the context of auto loans, this is a mandatory document which the customer
145
Acceptance Form signs acknowledging acceptance and possession of vehicle from the dealer.
Desired financing
146 Amount required by the customer.
amount
Desired financing
147 Tenure required by the customer.
Tenure

liability underlying a partnership formed on the basis of labor, where the partner
148 Dhaman al- amal is liable for performing the contract or completing the work accepted by either
partner.
liability for the debts of the partnership; the usual form of liability underlying all
149 Dhaman al-mal
partnerships, especially one formed based on wealth.
liability for damaging or destroying property accepted by the partnership for
150 Dhaman al-talaf
value-added work.
liability underlying a partnership formed on the basis of credit-worthiness where
Dhaman al-
151 each partner is liable, jointly and severally, for paying the prince of goods bought
thaman
on credit.
Receivables; the term does not apply to cash loans for which the word qard is
152 Dharb fil-ardh
used; see qard.
Necessity. A principle used for permitting forbidden things in case of duress or
153 Dharurah
extreme hardship.
154 Dhimam see sharikat al-dhimam.
Bank and customer participate in joint ownership of a property. The share of the
Diminishing bank is divided into number of units. Customer purchase these units from bank at
155
Musharakah periodic intervals, thereby increasing his/her share in the undivided property until
all the units are purchased by the customer.
Diminishing Musha This kind of Musharakah used as a mode of financing where a partner can redeem
156
rakah his share / share having a put option or call option.
Direct Debit / A facility offers by the bank to customer against which monthly full payment or
157
Auto Debt Facility minimum payment will be debited from his/her account on the due date.
Name of a unit of currency, usually a silver coin, used in the past in several
158 Dirham Muslim countries and still used in some Muslim countries, such as Morocco and
United Arab Emirates.
Currency accepted by the traders as valid for commercial transactions amongst
159 Dirham tijariyah
them although it did not meet the conditions laid down for currency.
160 Disbursement Loan payout in the name of the customer.
Incomplete or missing documents, or alternatively incomplete, illegible or
161 Discrepancy contradictory information in the customer's loan application or documentation
provided by customer.
A cheque which is returned by the payer's Bank due any number of possible
Dishonored/Retur
162 reasons including but not limited "insufficient funds, amounts' mismatch, illegible
ned Cheque
signature, overwriting, date-barring etc."
Disputed A cardholder posted transaction which is not accepted by him/her and requires
163
transaction clarification.
164 Diyah Blood money of an unintentional killing or injuries.
Number of days past the due date after the customer's payment became due as
165 DPD
per the contractually agreed upon terms and conditions.
Due Date
Date specified in the statement of account for monthly repayments/ schedule for
/Payment Due
166 the payment of the Minimum Payment Amount, the Current Balance or
Date /Installment
due date Installment to be made to the Bank for the facility availed by the customer.
167 E-Alerts Electronic Alerts to be sent to customer via email / SMS.
E-Banking / Banking transactions which can be conducted on internet after accessing Bank's
168
Internet Banking application with unique password.
Electronic Credit Information Bureau-eCIB has been established by the State Bank
e-CIB /Credit
169 of Pakistan which requires all banks and financial institutions to report all loans
Bureau
and advances, to the State Bank.
170 Early payoff Early settlement of financing

Payment of entire loan amount before the normal maturity of loan as per
repayment schedule. Early Termination Charges :If the customer wishes to
171 Early Settlement
terminate the Ijarah Agreement before the agreed period, the customer has an
option to buy the asset on the pre-agreed purchase price.
172 EMI Equal Monthly Installments.
173 Equity Distribute according to proportions in a specific contract.
Equity/down Customer's stake in the vehicle, customer pays a vehicle value's part before
174
payment financing.
175 Expiry Date The date of expiry specified by the Bank on the Card.
176 External agencies Agencies providing services to customers which are on Bank's panel.
Facility rate /
177 Pricing / interest Mark up rate charged on the financed amount.
rate / Interest
Bounties of God, excess; used for Riba, which is excess in the exchange of two
178 Fadhal counter-values, whether determined through weight or measure or realized
through delay in the delivery of one of the counter-values.
A type of interest. Taking something of superior quality in exchange for the same
kind of thing of poorer quality. Allah Subhana wa Taala has strictly prohibited any
179 Fadl (Riba)
kind of Riba and has warned of severe punishment for those who have any
association with it. See the Holy Qur an,Surah Al-Baqara (2): 275-280
180 Fai Spoils of war that Muslims acquire from the enemy without actual fighting.
181 Faidah Benefit. In investment context it means return on investment.
A price that comes into being as a result of the market operations within the
182 Fair price
framework of the Shari‘ah.
183 Falas Bankrupt
Jurist; an Islamic scholar who can give an authoritative legal opinion or
184 Faqeeh / Faqih
judgement.
185 Faqir A poor person
186 Fard Obligatory. An act which is obligatory on Muslims.
187 Fard Ain An action, which is obligatory on every Muslim.
Religious obligation for the fulfillment of which whole society is responsible.
188 Fardh Kifayah However, if it is fulfilled by some member(s) of the society, others become free of
this responsibility.
Vitiated; irregular; unenforceable; used in the sense of voidable in the positive
189 Fasid law, but a contract is voidable at the option of the parties, while
the fasid contract can become valid only if the offending condition is removed.
190 Fasid ijarah The hukm (rule) for a vitiated Mudarabah, muzaraah or musaqah.
191 Faskh Rescission.
A religious decree; a legal verdict given on a religious basis. The sources on which
192 Fatwa / Fatwah a fatwa is based are the Holy Quran, Sahih Bukhari and Muslim, and all other
authenticated Ahadeeth. Plural: Fatawa.
193 Fay Spoils of war that Muslims acquire from the enemy without actual fighting.
194 FCY Foreign Currency Account.
195 FED Federal Excise Duty.
Compensation for missing or wrongly practising necessary acts of worship. Fidyah
196 Fidyah
usually takes the form of donating money or foodstuff, or sacrificing an animal.
Financing
197 Document used for agreement between the customer and the bank.
agreement
Muslim jurisprudence; it covers all aspects of life, religious, political, social or
198 Fiqh economic. In addition to religious observances (prayer, fasting, zakat and
pilgrimage) it covers family law, inheritance, social obligations, commerce,

criminal law, constitutional law and international relations, including war. The
whole corpus of fiqh is based primarily on the Quran and the Sunnah and
secondarily on ijma and ijtihad.
Facilities where the mark up rate defined at the time of loan disbursement is fixed
199 Fixed Rate
for the tenure of the loan or until facility is closed.
This applies to products and services, which have a set lifetime. The customer
200 Fixed Term may be charged if the bank agrees to alter the product or service before the end
of its life.
Mark up rate renewable after certain defined period of time. The markup rate is
201 Floating Rate
linked with KIBOR plus a fixed percentage of profit margin.
202 Fulus plural of fals (copper coin).
(singular, faqih}: Jurists who give opinion on various issues in the light of the
203 Fuqaha'
Quran and the Sunnah and who have thereby led to the development of Fiqh.
FX Conversion Foreign Currency Transactions charges to be borne by customer to convert into
204
Charges Pakistani Rupees.
205 GCAS Global Customer Assistance Service.
206 General takaful A form of Islamic insurance to cover losses of fire, theft or natural calamities.
207 Ghanima Spoils of war acquired from enemy after fighting during a holy war (Jihad).
Uncertainty, hazard, chance or risk, ambiguity and uncertainty in transactions.
Technically, the sale of something which is not present at hand; or the sale of
something where the consequences or outcome is not known. It can also be a sale
208 Gharar involving risk or hazard in which one does not know whether it will come to be or
not, such as fish in water or a bird in the air; or an event where assurance or non-
assurance is subject to chance and thus not known to parties of a transaction. Can
also mean uncertainty or a hazard that is likely to lead to a dispute in a contract.
209 Gharim A person in debt; debtor unable to pay the debt from his wealth.
210 Ghasb usurpation; abduction.
A promise given by a person called 'the guarantor' to pay another person's debts
211 Guarantee
if that person does not pay them.
(plural, ahddith): A report on the saying, deed or tacit approval of the Prophet,
212 Hadith
peace be on him.
A saying of Allah Taala narrated by Prophet Muhammad (S.A.W.),that is not a part
213 Hadith-Qudsi
of the Holy Quran.
214 Hajar Interdiction, usually for safah (prodigality).
The Black Stone, a stone which is said to have fallen from heaven, set into one
Hajar Al-aswad corner of the Kaabah in Mekkah by Prophet Ibrahim (Abraham) (A.S.), which
215
(Al) pilgrims, in imitation of Prophet Muhammad, (S.A.W.), kiss while
performing the Hajj or Umrah.
Hajj means pilgrimage to Mecca and other holy places. Hajj, the fifth pillar of
Islam, is a duty on every Muslim who is financially and physically able to carry it
216 Hajj out, at least once in his lifetime. There is a specific period for Hajj, namely one
week from the 8th day of the Islamic month of Dhul Hijjah to the 13th day of that
month in the Islamic lunar calendar.
Hajj al-Ifrad
217 Hajj without Umrah.
(single)
Hajj al-Qiran
218 Umrah then Hajj without taking off the Ihram.
(combined)
Hajj at-Tamattu
219 Umrah followed by Hajj, but taking off the Ihram in between these two stages.
(interrupted)
Things/acts lawful in Islamic law; Permissible. The concept of halal has spiritual
220 Halal / Halaal
overtones. In Islam there are activities, professions, contracts and transactions

which are explicitly prohibited (haram) by the Quran or the Sunnah. Barring them,
all other activities, professions, contracts, and transactions etc. are halal. This is
one of the distinctive features of Islamic economics vis-a-vis Western economics
where no such concept exists. In Western economics, all activities are judged on
the touchstone of economic utility. In Islamic economics, other factors, mostly
spiritual and moral are also involved. An activity may be economically sound but
may not be allowed in the Islamic society if it is not permitted by the Shari‘ah.
221 Hamil surety; the term is used by Hanbali jurists for kafil.
Islamic school of law founded by Imam Abu Hanifa. Followers of this school are
222 Hanafi / Hanfi
known as the Hanafis.
Islamic school of law founded by Imam Abu Hanifa. Followers of this school are
223 Hanifite laws
known as Hanafis.
224 Haq Legal right.
225 Haram An act or product which is unlawful or prohibited in Islam.
Partnership in which participation by the partners is based on labor or skill, but
226 Harikat amal
the partnership has to be of the type inan or mufawadah.
Endorsement; assignment; avail; Lit: bill of exchange, promissory note, cheque or
draft. Technically, a debtor passes on the responsibility of payment of his debt to
a third party who owes the former a debt. Thus the responsibility of payment is
ultimately shifted to a third party. Hawala is a mechanism for settling
international accounts, by book transfers. This obviates, to a large extent, the
necessity of physical transfer of cash. The term was also used historically in public
227 Hawala
finance during the Abbaside period to refer to cases where the state treasury
could not meet the claims presented to it and it directed the claimants to occupy
a certain region for a specified period of time and procure their claims themselves
by taxing the people. This method was also known as "Tasabbub". The taxes
collected and transmitted to the central treasury were known as "Mahmul", while
those assigned to the claimants were known as "Musabbub".
228 Heelah legal device.
229 Hibah Gift.
Name of the Islamic lunar calendar. It took its name from the early Muslims who
migrated from Mekkah to Madinah, and commences from the date of the
Prophet Muhammads (S.A.W.) Hijra, which he made with Abu Bakr as-Siddiq
230 Hijri (A.S.), in 622AC. Often abbreviated to A.H. (After Hijra). The months of the
Islamic calendar are:1.Muharram. 2.Safar. 3.Rabii al-Awal. 4.Rabii al-Akhira.
5.Jumada al-Awal. 6.Jumada al-Akhira. 7.Rajab. 8.Shaban. 9.Ramadan. 10.Shawal.
11.Dhul Qida. 12.Dhul Hijjah
Keeping people away from a land which was earlier treated as usable by all so as
231 Hima
to restrict all outward benefits such as herbage, water and hunting to state use.
232 Hiyal plural of heelah (legal device).
233 Hizim binding; binding contract.
The boundary between what is Halal (lawful) and what is Haram (unlawful), set
234 Hudud
by Allah. Whoever transgresses these limits may be punished or forgiven by Allah.
235 Hujjah legal proof or authority.
Pilgrims. Persons who have been on the pilgrimage to Mekkah during the Hajj
236 Hujjaj season in the month of Dhul Hijjah. Singular: Haji = a male pilgrim, Hajah = a
female pilgrim.
Verdict; rule; command; prescription; the hukm of a contract is a term for the
237 Hukm / Hukum
legal effects of the contract.
238 Hukman Constructively; legally, though not actually.
239 Huquq Rights; lawful cliams; Plural of haq.

240 Hypothecation Process of placing a charge / lien on vehicle financed by the Bank.
241 Inan rein of an animal; type of partnership; see sharikat al-inan.
the inan partnership that is formed for a particular project or for trading in a
242 Inan khass
particular commodity or in which the agency granted to the partners is restricted.
243 Iwadh Compensation or counter-value.
244 Ibahah permissibility.
245 IFB Interest Free Banks
246 Ifrad (Hajj al) "Single Hajj". Performing Hajj without performing the Umrah.
The state in which one is prohibited from doing certain things which are lawful at
247 Ihram
other times. Umrah and Hajj are performed in such a state.
248 Ihya al-Mawat Reviving of unowned wasteland. One who revives such land becomes its owner.
249 Ihya’ al-ardh reviving barren lands.
Lit: letting on lease. Technically, sale of a definite usufruct in exchange for a
definite reward. Commonly used for wages, it also refers to a contract of land
lease at a fixed rent payable in cash. It is contrary to "Muzarah" when rent is fixed
as a certain percentage of the produce of land. It also refers to a mode of
250 Ijara/ijarah
financing adopted by Islamic banks. It is an arrangement under which an Islamic
bank leases equipment, a building or other facility to a client against an agreed
rental. The rent is so fixed that the bank gets back its original investment plus a
profit on it.
"A leasing agreement whereby the bank buys an item and leases it to the
251 Ijarah
customer over a specific period of time"
Instalment of rent paid for leasing an asset are shown as ’ijarah expense in the
252 Ijarah expense
books of the lessee.
253 Ijarah revenue Instalments of rent received on leased assets by the financial institutions.
Contract of renting, hiring or leasing. This term refers to a mode of financing
adopted by Islamic banks. It is a contract under which the Islamic bank finances
equipment, a building or other facility for the client against an agreed
254 Ijarah wa iqtina rental together with an undertaking from the client to purchase the equipment
or the facility. The rental as well as the purchase price is fixed in such a manner
that the bank gets back its principal sum along with some profit, which is usually
determined in advance.
Consensus of opinion of Muslim jurists on a specific matter; consensus of the
255 Ijma' jurists on any issues of fiqh after the death of the Prophet, peace is on him. See
also fiqh.
consensus where some jurists give tacit approval to the rule pronounced by
256 Ijma’ sukuti
others.
Lit: effort, exertion, industry, diligence. Technically, endeavour of a jurist to derive
or formulate a rule of law on the basis of evidence found in the sources; scholarly
257 Ijtehad / Ijtihad
effort through which a jurist/scholar derives Islamic law on the basis of Quran and
Sunnah.
258 Ikhtilat mixing of shares so that they can no longer be separated.
259 Iktinaz Hoarding wealth without fulfilling legal obligations on it.
Leader of the congregational prayer; also used for the founders of different
schools of Muslim jurisprudence or other eminent jurists and also for the
260 Imam
prominent descendents of All ibn Abi Talib and distinguished Shiah theologians. In
ahddith it has also been used to refer to the ruler.
Income estimation
261 Agency used for assessing customer's income.
agency
262 Infaq Free-of-cost lending of an animal for riding or loading.
263 Inqilab conversion; revolution; conversion of mufawadah into inan.

A loan in which the amount of payment and the number of payments are
264 Installment loan
predetermined.
Insurance The amount payable to an insurance coverage provider in return for their
265
premium coverage of an asset at a pre-determined insurance premium rate.
Insurance The products designed to cover the customers liability / assets to any unforeseen
266
Products circumstances which may face by the customer in future.
The interest free period applies on retail transactions only. The days begin at the
Interest Free
267 start of your statement period and ends when your payment for that purchase/
Period
transaction is made.
An independent division or department or part of internal audit department of an
Internal Shari‘ah Islamic bank. Its functions include examination and evaluation of the operations
268
review of the banks with a view to determining the extent of compliance with the
Shari‘ah rules, guidelines and fatwas issued by the Shari‘ah supervisory board.
Granting of concessions relating to real estate e.g. the right of passage and right
269 Intifaq
to place a beam on the wall of the neighbor, etc.
270 Intiha’ end; termination; termination or dissolution of a partnership.
With reference to Islamic banks, they are investments in financial instruments
271 Investment assets
using any of the suitable Islamic financial instruments.
With reference to Islamic banks, it is the amount appropriated out of the income
Investment risk
272 of investment account holders, after allocating the mudarib’s share, in order to
reserve
provide a cushion against future losses for investment account holders.
273 Iqalah negotiated rescission.
Granting of ownership or usufruct rights over state land by the state to individuals
274 Iqta'
in recognition of their services for the sake of Islam.
275 Irtihan pledging; mortgaging.
276 Ishtirak equivocally; participation; partnership.
Banking in consonance with the ethos and value system of Islam as compared to
277 Islamic banking conventional banking that conducts its business of borrowing and lending on the
basis of interest.
278 Isnad The chain of transmission of a tradition.
279 Isqat The extinction of a right.
raising or building up credit through credit purchases; does not apply to the
280 Istidanah
raising of cash loans; see istiqrad.
281 Istihqaq al-ribh entitlement to profit; basis for entitlement to profit.
principle according to which the law is based upon a general principle of the law
282 Istihsan in preference to a strict analogy pertaining to the issue, the principle is used by
the Hanafis as well as the Malikis.
It is an Islamic mode of finance, enabling buyers to buy commodities such as
cotton, edible oils, pharmaceuticals, etc. conveniently. The sale price payable to
283 Istijrar the bank is determined by the market forces. The sale price is taken as the
average of market prices, during the financing period relating to the particular
commodities determined by reliable and undisputed sources.
the raising of cash loans for business purposes, declared batil by al-Sarakhsi as it
284 Istiqradh
is against the principle of prohibition of Riba.
This is a kind of Sale where a commodity is transacted before it comes into
existance. It means: To order a manufacturer to manufacture a specific
commodity for the purchaser. If the manufacturer under takes to manufacture
285 Istisna’a / Istisna the goods for him with material from the manufacturer, the transaction of
Istisna’a comes into existence. But it is necessary for the validity of istisna’that
the price is fixed with the consent of the parties and that necessary specification
of the commodity (intended to be manufactured) is fully settled between them.

This kind of Sale also is used as a mode of financing which also called “Parallel
Istisna’a”.
Interactive voice response (IVR) is a technology that allows a computer to interact
286 IVR with humans through the use of voice and DTMF (Dual Tone Multi Frequency )
tones input via keypad.
287 I’arah lending utensils and non-fungibles.
288 Jahiliyyah The period in Arabia before the advent of Muhammad, peace be on him.
289 Ja’iz permissible; permissible contract.
Lit: stipulated price for performing any service. Technically applied in the model
290 Ji'ala of Islamic banking by some bank charges and commission have been interpreted
to be juala by the jurists and thus considered lawful.
291 Jihad Holy war; struggle in the way of Allah.
292 Jihalah uncertainty; uncertainty in a contract that may lead to a later dispute; see gharar.
293 Jizya A tax imposed on non-Muslims who are under Muslim country.
The undertaking of one party (the Jael, bank or employer) to pay a specified
294 Joalah / Joaalah amount of money to another party in return for rendering a specified service in
accordance with the terms of contract.
The cube-shaped stone building whose foundations were built by angels and
completed by Prophet Ibrahim (Abraham) and his son, the Prophet Ismael (A.S),
295 Kaabah
in Mekkah. It was rebuilt with the help of Prophet Muhammad (S.A.W.). It is the
focal point towards which all Muslims face when praying.
Kafalah bi al-
296 Surety for paying the price or sum if unpaid by the person originally liable.
thaman
297 Kafalah binnafs bail; surety for producing the body of the person wanted.
298 Kafil surety; person providing the surety; guarantor.
299 Kala' Grass, herbage and plants which grow on their own.
300 Khalt mixing of shares; see ikhtilat.
301 Khamr wine from grape juice.
302 Kharij produce.
303 Khiraj Tax on land of non-Muslim subjects of an Islamic state; revenue from land.
contract terminable at the will of either party. contract terminable at the will of
304 Khiyar al Izin
either party.
305 Khiyarat plural of khiyar (option).
A 20 per cent levy. It is applicable to spoils of war, mines and wealth burned in
306 Khums
land that has no owner.
307 KIBOR Karachi Interbank Offered Rate as directed by SBP on monthly basis.
308 Kira’ rent for land, permitted by Malik ibn Anas.
Late payment
309 Penalty levied on late installment / payments.
charges
Lawyer appraisal
310 Agency used to verify and appraise the property document.
agency
A lease is a contractual arrangement calling for the lessee (user) to pay the lessor
311 Lease facility
(owner) for use of an asset.
Lease facility
312 Mark up rate charged on the loan amount.
pricing
Leasing certificate is an Islamic financial instrument. The certificate is offered by
313 Leasing certificate Islamic banks to savers when the latter want to invest their funds in lease
operations.
314 Liabilities Any or all amounts payable whatsoever by the Card member to the Bank.

Linked
315 Account/Repayme Account opened for making monthly payments/installments.
nt Account
Charges which will be incurred at the time of filling a suit by the bank against a
316 Litigation charges
defaulted customer.
Letter of understanding between the bank and the customer mentioning some of
317 LOU
the important terms & conditions of the loan.
318 LTV Loan to value - Ratio of amount of loan sanctioned against value of the property.
A Hajj that is accepted by Allah because of its perfection in both inward intention
319 Mabrur
and outward observation of the traditions of Prophet Muhammad (S.A.W.)
A city in Saudia Arabia, often called Madinaal-Munawarra - the Illuminated, or the
320 Madinah EnlightenedCity - where the revelation of the Quran was completed, and in
which Prophet
321 Mahjoor A person who is prevented or restrained to do business by law or Shari‘ah.
A man whom a woman can never marry because her close relation with him (e.g.
322 Mahram
father, brother, uncle, son, etc.). Her husband is also her Mahram.
323 Maiser Gambling. Literally means getting something too easily.
324 Majhool Unknown; uncertain.
325 Makruh Abominable; reprehensible; disapproved.
326 Mal Wealth
327 Manafa'ah See manafi'
328 Manafi' Plural of manfa'ah (benefits; usufruct; profits; utility).
329 Maniha Granting of usufruct of a productive asset to a needy person for a specific period.
330 Manufacturer Vehicle manufacturer.
331 Margin Bank's Profit percentage.
332 Maturity Loans payment completion.
333 Mazru' The crop to be cultivated.
334 Mazru'ah Land given out by way of muzdra'ah.
Free-of-cost lending of domestic utensils, professional instruments and other
335 Ma’un
things of ordinary needs.
Any person / entity supplying goods and / or services and / or other benefits who
336 Merchant
accepts the Card as a means of payment.
337 Milk Ownership; property.
338 Milk mushtarak Co-ownership; joint ownership.
339 Milkiyah Ownership.
Minimum Payment A certain percentage of current outstanding balance which a customer has to pay
340
Amount to avoid the delinquency /default.
Fungible; things sold by weight or measure, and for which one quantity or
341 Mithli
measure is a substitute for another.
A contract between Financier and Working partner. A profit and loss sharing
contract in which one party provides capital and the other party manages the
enterprise. In ease of loss the provider of capital bears the financial loss while the
worker loses his labor. In case of profit both parties share it in agreed
proportions. An agreement between two or more persons whereby one or more
342 Modharabah
of them provide finance, while the others provide entrepreneur ship and
management to carry on any business venture whether trade, industry or service,
with the objective of earning profits. They share the profit in an agreed
proportion. The loss is borne only by the financier's in proportion to their share in
total capital. See also sahib al-mal and mudarib.
343 Month Calendar month.

Mortgage is the transfer of an interest in specific immovable property for the
344 Mortgages purpose of securing the payment of money advanced or to be advanced by way
of loan or finance.
345 Mu'ajjal See bay al-mu'ajjal.
Transaction; agreement; term used for the agreement concluded by the Prophet
346 Mu'amalah
with the people of Khaybar
Ascertained; determined; commodity ascertained through weight or measure for
347 Mu'ayyan
purposes of sale.
348 Mubah Things/acts permissible in Islamic law; permissible.
Person who commits an act personally and of his own volition rather than
349 Mubashir
through another person.
350 Mudabbar A slave whom his master has declared to be free upon the master's death.
Normally issued by the state, they are instruments for obtaining funds from the
private sector on the basis of Mudarabah. The state issues a share certificate,
351 Mudarabah shares indicating the price, the period and the terms of the contract. The funds thus
collected are invested in some profit-yielding project so that the state can share
profit or loss with the public.
The term refers to a form of business contract in which one party brings capital
and the other personal effort. The proportionate share in profit is determined by
mutual agreement. But the loss, if any, is borne only by the owner of the capital,
in which case the entrepreneur gets nothing for his labour. The financier is known
Mudharaba / as "rab-al-maal" and the entrepreneur as "mudarib". As a financing technique
352
Mudarabah adopted by Islamic banks, it is a contract in which all the capital is provided by the
Islamic bank while the business is managed by the other party. The profit is
shared in pre-agreed ratios, and loss, if any, unless caused by negligence or
violation of terms of the contract by the "mudarib" is borne by the Islamic bank.
The bank passes on this loss to the depositors.
A working partner; the partner who provides entrepreneur ship and management
353 Mudharib in aMudarabah agreement as distinct from the sahib al-mal who provides the
finance.
A basic contract of partnership based on wakalah and kafalah that requires full
commitment from the partners and to achieve this purpose tries to maintain
354 Mufawadhah equality in the capital, labor, liability and legal capacity and also declares each
partner to be a surety for the other it is converted into the 'inan partnership if
such equality is disturbed.
355 Muhaqalah Sale of un-harvested crop. (Sale contract of this kind is not permissible in Islam).
A slave with whom his master has concluded the contract of kitabah by virtue of
356 Mukatab
which the slave buys his freedom and agrees to pay for it in installments.
Sharecropping contract in which the landowner reserves crop of a particular area
for himself. (Sharecropping contract of this kind is not permissible in Islam);
357 Mukhabarah
another name for the contract of musaqah derived from the transaction with the
Jews of Khaybar.
Total credit limit approved for a Card member on all of his / her Credit Cards
358 Multiple Limit
collectively.
359 Muqaradhah Another name for mudharabah used by the Malikis; see also qirad.
Muqtadha 'aqd al- Implied contract of 'inan; conditions implied by the mere use of the word 'inan in
360
'inan the contract of partnership.
Lit: Sale on profit; Cost plus profit, sale at stated cost price and mark-up, sale at a
specified profit margin. The term is, however, now used to refer to a sale
361 Murabaha
agreement whereby the seller purchases the goods desired by the buyer and sells
them at an agreed marked-up price, the payment being settled within an agreed

time frame, either in installments or lump sum. The seller undertakes all the
management needed for the purchase and also bears the risk for the goods until
they have been delivered to the buyer. See also bay' al-mu'ajjal. This has been
adopted as a mode of financing by a number of Islamic banks. As a financing
technique, it involves a request by the client to the bank to purchase a certain
item for him. The bank does that for a definite profit over the cost which is
settled in advance. Some people have questioned the legality of this financing
technique because of its similarity to Riba or interest.
362 Musahamah In Egyptian law it is the name for a corporation or for a public limited company.
Musaqah / Contract for the watering of trees between the owner of land and a worker on
363
Musaqat the condition of sharing the produce; leasing fruit garden on fruit-sharing basis.
"Musawamah is a general kind of sale in which price of the commodity to be
364 Musawamah traded is bargained between seller and the purchaser without any reference to
the price paid or cost incurred by the former. "
A share that is undivided and completely mixed up with the shares of the other
365 Musha'
partners, that is, it is to be found in each particle of the joint property.
The term refers to a financing technique adopted by Islamic banks. It is an
agreement under which the Islamic bank provides funds which are mingled with
the funds of the business enterprise and others. All providers of capital are
366 Musharakah
entitled to participate in the management but not necessarily required to do so.
The profit is distributed among the partners in pre-determined ratios, while the
loss is bome by each partner in proportion to his contribution. see sharikah.
367 Mustajar Objects of a hiring contract.
Refers to a lease holder or a tenant in the case of land tenancy. Also used for an
368 Mustajir
employer, in the case of letting out of services.
Demand; demand by a creditor for the satisfaction of debts from the dealing
369 Mutaba'ah
partner or from the other partners.
Lit: Economic transaction; Sharecropping contract. Technically, contract for the
370 Muzara'ah cultivation of land between the owner of the land and the worker with the
condition of sharing the produce.
by way of nasiah, that is, with a delay in the delivery of one or both counter-
371 Nasi’a
values in a contract of exchange (bay).
372 Nass text; word or text with a single meaning; text from the work of a jurist.
A type of account where a customer can only make deposits but cannot withdraw
NCCA/ Non funds from the account. As such, no instruments (debit card, cheque book,
373
Checking Account internet banking etc.) are provided to the customer when opening this type of
account.
A type of interest. Taking interest on loaned money. An act which Haram. See the
374 Nisa (Riba al)
Holy Quran, Al-Baqara (2):275-280 and Aaliimran(3):13O.
375 Nisab A threshold of wealth of which any excess is subject to Zakah.
institution; term used in Saudi law for the corporation, in place of the usual term
376 Nizam
sharikah, in Arab law.
377 NOC No Objection Certificate issued in favor of the customer after loan clearance.
378 Nostro Our Correspondent Account with others, owner is not known.
379 Nubzah beverage made from dates; mead of dates.
380 Off Us ATM Transaction conducted on other bank ATM.
381 On Us ATM Transaction conducted on issuer's bank ATM.
An operating lease that does not include a promise to transfer the title of the
382 Operating ’ijarah
leased asset to the lessee at the end of the lease.
Outstanding
383 Any unpaid amount with respect to a financing facility.
balance

384 Outstanding loans Loans payable.
Amount of loan and credit card payment(s) which has not been made as of its due
Overdue
date (or maturity) date. All financial arrangements become overdue one business
385 Payments/ Late
day after their due date. A borrower who is past due may be subject to late fees
payments
and other charges.
These letters are abbreviations for the phrase Peace Be Upon Him which is the
translation of the Arabic expression Alaihis Salam or A.S., which is an expression
that is said when the name of a prophet is mentioned. This expression is widely
used by English speaking Muslims. It is to be noticed here that this expression
386 P.B.U.H.
does not give the full meaning of "Salla Allahu Alaihi Wa Sallam". Therefore it is
recommended that people do not use (p.b.u.h.) after the name of prophet
Muhammad (S.A.W.); they should use "Salla Allahu Alaihi Wa Sallam" instead, or
they may use the abbreviated form of (S.A.W.) in writing.
A form of double ’istisna‘contract, where a company approaches an Islamic
financial institution to provide finance for constructing a facility like a power
plant. The financial institution agrees to provide the constructed facility on the
387 Parallel istisna basis of ’istisna‘. It engages some engineering firm to construct the plant, again
on the basis of ’istisna‘. The difference between the price that the financial
institution would pay to the engineering firm and the price that it would receive
from the original buyer company would be its profit (or loss).
388 Parallel Istisna’a See Istisna’a.
389 Parallel Salam See Bai Salam.
390 Pari Passu Simultaneously and equally.
Partial Customer making a deposit, apart from his regular payment/instalment, against
391
prepayment his loan to reduce his/her iabilities/monthly instalment.
To pay any amount(s) to any person / party for any purpose settlement of any
392 Payment Facility
bills or for any other purpose approved by the Bank from time to time.
393 Payment period Tenure of the facility.
Personal Loans mean the loans to individuals for the payment of goods, services
394 Personal Loans
and expenses and include Running Finance/Revolving Credit to individuals.
395 Phaasid see fasid.
The Personal Identification Number issued to a Card member to enable the Card
member or a Supplementary Card member or selected by a Card member or a
396 PIN/ ATM PIN
Supplementary Card member and generated through IVR (Interactive Voice
Recording) to use the Card at an ATM for a Cash Advance .
Pre Payment/ A one off payment along with FED charges which customer may be asked to make
397
Early Settlement if customer decide to repay loan early before maturity.
Prepayment
398 Financial charges applied on pre payment of loan.
charges
399 Principal The amount of debt, exclusive of interest, remaining on a loan.
400 Processing Fee One time Fee charged on approved amount only for processing.
Profit-sharing Financial instrument of riba-free economy. Indicates deposits with commercial
401
deposits banks on the basis of profit sharing.
The detailed information/events/picture provided by the cardholder for
402 Progressive Letter
continuing his/her dispute with the bank against disputed transaction evidences.
With reference to Islamic banks, a provision is essentially a contra-asset in the
403 Provision statement of financial position and is constituted by charges made as expenses to
the banks’ income statement.
404 Purchase Order Order issued by the bank to the dealer for confirmation of purchasing the vehicle.
A loan given for a good cause in the name of Allah, in hopes of repayment or
405 Qardh
reward in the Hereafter; debt.

A loan extended without interest; gracious loan without interest in which the
benefit to be derived is gifted by the owner to the beneficiary without this
406 Qardh Hasan
charitable act, the use of the money for a period would be considered an
unjustified excess transferred to the beneficiary also called Ribaal-nasiah.
A loan extended without interest; gracious loan without interest in which the
benefit to be derived is gifted by the owner to the beneficiary without this
407 Qardh Hasan
charitable act, the use of the money for a period would be considered an
unjustified excess transferred to the beneficiary also called Ribaal-nasiah.
408 Qarn al-Manazil The Miqat of the pilgrims travelling through Najd, in Arabia (from the east).
another name given by the Malilkis to the contract of Mudarabah, from the word
409 Qiraadh
qard.
Combined Hajj. Performing the Umrah, followed by the Hajj, without taking off
410 Qiran (Hajj Al)
the Ihram.
Lit: Analogy; syllogism. Technically: Analogy through which Islamic law is derived
411 Qiyas
from a textual injunction for a given non-textual matter.
412 Quadaa Paying in a debt.
413 Qubul acceptance.
414 Quirat gold, coin used during the time of Holy Prophet PBUH
The Holy book containing the actual words of Allah revealed to the Prophet
Muhammad (peace be upon him). This Holy Book of the Muslims consisting of the
revelations made by God to the Prophet Muhammad, peace be on him, during his
Prophet hood of about 23 years. The Quran lays down the fundamentals of the
Islamic faith, including beliefs and all aspects of the Muslim way of life. These are
supplemented or further elaborated by the Sunnah. The Quran consists of 30
parts (ajza), 114 chapters (surahs}, and 6,666 verses (ayahs). There are a number
415 Quran
of translations of the Quran by both Muslims and non-Muslims. The translations
by Abdullah Yusuf Ali and Muhammad Marmaduke Pickthall, both Muslims, and
by A. J. Arberry are the most popular. In all references to the Quran in the text
(e.g., 30: 41), the first number refers to the surah and the second to the ayah or
verse. Many commentries (Tafseer) of the Holy Quran had been written in many
languages. Ahkamul Quran, Maariful Quran, Jalalain etc are among the most
famous ones.
416 Ra's al-mal capital; principal amount invested; capital invested in Mudarabah Musharakah.
417 Rabb al-ardh owner of land, owner of the land in Musaqah/Musaqat and Muzara’ah contracts.
investor; owner of capital; a person who invests in Mudarabah / Musharakah. See
418 Rabb al-maal
also sahib al-mal.
419 Radd bi-al-'ayb return of goods after a sale due to defects in the goods.
Property, which belongs to all people. Neither state nor individuals can prevent
420 Raghabah
others from its lawful use.
421 Rahn Pledge or mortgage.
Is from rayb which literally means "doubt or suspicion and refers to the income
which has the semblance of Riba or which raises doubts in the mind about its
422 Raibahh
rightfulness. It covers all income derived from injustice to or exploitation of,
others.
Rate revision
423 Letter for customer when the applicable rate is revised annually.
letter
424 Ready Delivery Vehicle available at the dealer for delivery after payment.
Ready Delivery
425 Used vehicle available at dealer's end for delivery after payment.
used

With reference to Islamic banks, receivables are amounts due from clients as a
426 Receivables result of sale transactions through the financial instruments of Murabahah, salam
or ’istisna‘.
Registration
427 Amount required for registering the vehicle with Excise and Taxation Office.
charges
428 Rental Payment Amount paid by a lessee to a lessor for the use of an asset.
The process of returning of the borrowed loan amount. The repayment has to be
made for the entire tenure of the loan amount. Based on fixed or floating interest
429 Repayment rates on the loan amount, the banks or financial institution decides on an EMI
which has to be paid on or before a date mentioned in the loan agreement every
month.
430 Repayment period Tenure of the facility.
431 Repossession "Duplication of term" It is suggested to retain any one of the definition.
A reserve is essentially a component of equity (of either investment account
432 Reserves
holders and/or shareholders) and is constituted by appropriations out of income.
433 Residual Value Value of the asset after completion of the ijarah period.
Relating to Islamic banking, refers to an investment account in which the bank
has the authority to invest the account holder’s funds on the basis of Mudarabah
Restricted
contract or agency based contract for investment, but has certain restrictions as
434 investment
to where, how and for what purpose the funds are to be invested. Further, the
account
Islamic bank may be restricted from commingling its own funds with the
restricted investment account funds for purposes of investment.
This is a type of loan which is "evergreen" in nature such that there is no specified
facility maturity date (it may, however, include facility renewals at a pre-
435 Revolving Loan
determined frequency). The borrower is typically assigned a credit limit and he /
she can withdraw any amount he / she requires up to this credit limit.
Points earned by the customer upon conducting any transaction from his/her
436 Reward Points
credit card. This facility vary banks to bank.
Riba literally means increase, addition, expansion or growth. It is, however, not
every increase, or growth, which has been prohibited by Islam. In the Shari‘ah,
437 Riba Riba technically refers to the premium that must be paid without any
consideration. According to the jurists of Islam this definition covers the two
types of Riba, namely Riba Al Fadhl and Riba Al Naseah.
An extension of Riba to trade, because while trade is allowed, not everything is
permitted in trade. The prohibition of Ribaal-fadl closes all back doors to Riba
through trade. unlawful excess in the exchange of two counter-values where the
excess is measurable through weight or measure. According to
438 Riba aI-Fadl
some Ahadith (Sayings of the Holy Prophet) if six things i.e. gold, silver, wheat,
barley, dates and salt are exchanged against themselves, they should be spot and
be equal and been specified. If these conditions are not found, this transaction
will become Riba Al Fadhl.
Literally means increase or addition of debt and it refers to the premium that
must be paid by the borrower to the lender along with the principal amount as a
439 Riba al' Nasiah condition for the loan or an extension in its maturity." It is thus equivalent to
interest. the addition of the premium which is paid to the lender in return for his
waiting as a condition for the loan and is technically the same as interest.
440 Riba al-duyun A substitute expression for the Quranic riba or riba al’ nasiah
In an event of default or otherwise, bank has the right of set off i.e. bank at its
discretion or otherwise and without giving notice to the customer, reserves the
441 Right of Set Off
right to recover outstanding amount(s) from any of Customer's Account(s)
maintained with the bank.

442 Rikaz Ancient wealth found hurried in land whose
element; part of an act without which the act is not complete or valid; essential
443 Rukn
ingredient or element of a contract; singular of Arkan.
444 Rupee/PKR Pakistani Rupee Currency.
These letters are abbreviations for the words "Salla Allahu Alaihi Wa Sallam",
which means : may the blessing and the peace of Allah be upon him. When the
445 S.A.W.
name of Prophet Muhammad is mentioned, a Muslim is to respect him and
invoke this statement of peace upon him.
446 Sadaqa / Sadaqah Anything given away in charity in the name of Allah.
A compulsory levy after the month of fasting (Ramadan). Every Nisab-holder has
447 Sadaqah al-Fitr to give to the poor one saa (21/2 kg.) of commonly used grain for himself and
each one of his dependents.
Two small hills in Makkah, in Al-Haram as-Shareef (The Grand Masjid) to the east.
It is an essential part of an Umrah and the Hajj to walk seven times between the
448 Safa and Marwa
two places, quickening ones step briefly between the two hills. This is called Sai.
See Holy Quran, Al-Baqara (2).
(plural, Ashab al-mal): The financier; in the Mudarabah form of partnership
agreement, the sahib al-mal (also, rabb al-mal) provides the finance while
449 Sahib al-Mal the mudarib provides the entrepreneur ship and management. There can be
many ashab al-mal and midribs in a given muddrabah agreement. See also
muddrabah, mudarib.
The act of going back and forth seven times between Safa and Marwa which is
450 Sai
done during the Hajj or the Umra.
451 Sak Pl. Sukook, Check, certificate of debt, certificates of investment.
452 Salam See Bai al salam.
453 Salaried individual Person employed on a salaried basis.
454 Sale Order Confirmation document sent to the customers before delivering Vehicle.
455 Samsarah Brokrage, agency, business of commisson. See Simsar.
contract for the exchange of gold, silver, and currencies whether the currency or
456 Sarf commodity exchanged is the same from both sides or is different, that is, whether
dinars are exchanged with dinars or dinars are exchanged with dirhams.
The document prescribing Service Fee(s), charges and other fee(s) applicable to
Schedule of
457 the Card/ BTF, Card Transactions and / or Card Account, issued by the Bank bi-
Charges
annually to the Card members.
Credit Limit which has been granted by bank and is secured against
458 Secured Limit collateral/liquid/non-liquid securities. In an event of default, or otherwise, bank
has the right to recover the amount(s) outstanding against the said security.
459 Security Bank's security against the loan.
Self employed
460 Individual having his own professional business.
professional
Vehicles that can be used for individual consumption and for commercial purpose
461 Semi commercial
as well.
Service Merchant acquiring bank who authorize it's merchant to accept card transaction
462
Establishment as per agreement and able to respond disputes queries.
Service Fee/
Annualized Fee as determined by the Bank and prescribed in the Schedule of Charges and
463
Percentage Rate payable by the customer on the outstanding Liabilities and other amounts.
(APR)
Shakhsiyah
464 juristic person; artificial personality; corporate personality.
i'itbariyah

Islamic Jurisprudence. Divine law consisting of Quran and Sunnah and on
465 Shari‘ah
justification.
Committee of Islamic scholars in Islamic Banks for guidance and supervision and
466 Shari‘ah Board
whose decisions are binding upon the bank.
467 Sharik partner.
partnership; in Egyptian law the term is used for joint-stock companies and
corporations as well, but is qualified with an adjective to indicate its nature:
468 Sharikah
thus, sharikah musahamah for a public limited company or a corporation whose
capital has been subscribed to by the general public.
general partnership; a partnership in which each partner is a general attorney for
469 Sharikah 'ammah
the other partners; a partnership that permits trading in all types of goods.
partnership based on credit-worthiness of the partners in which the ratio of profit
470 Sharikah al-wujuh and loss is based on the liability borne, but the partnership has to be of the type
inan or mufawadah.
special partnership; partnership for a single venture or for trading in a particular
471 Sharikah khassah item; partnership in which each partner is a special attorney of the other
partners.
Sharikah
472 in Egyptian law it is the name for a corporation or for a public limited company.
Musahamah
a basic contract of partnership based on agency in which participation may either
473 Sharikat al- 'inan be on the basis of wealth or labor or credit-worthiness, and in which equality of
contribution or legal capacity is not necessary.
474 Sharikat al-abdan another name for sharikat al-amal.
a partnership in which participation is based on the contribution of wealth by all
475 Sharikat al-amwal
partners, but the partnership has to be of the type indn or mufdwadah.
a term used by the Malikis to indicate a situation where two or more persons are
Sharikat al-
476 buying goods on credit it is different from the Hanafi sharikat al-wujuh insofar as
dhimam
it requires the physical presence of all the partners at the time of purchase.
477 Sharikat al-ibahah common rights of individuals to gather possesses and own free commodities.
478 Sharikat al-jabr mandatory co-ownership created by an act of law, like inheritance.
a partnership between persons whose assets have been reduced to copper coins
479 Sharikat al-mafalis
and who have to buy on the basis of credit-worthiness; see sharikat al-wujuh.
480 Sharikat al-mal see sharikat al-amwal.
481 Sharikat al-milk co-ownership. Sharikat al-Mudarabah: see Mudarabah.
Sharikat al- partnership for the acceptance of work, which is the same thing as a partnership
482
taqabbul based on labor or skill.
Audit of the operations of an Islamic financial institution to assess the extent to
483 Shari‘ah audit
which the institution adhered to the requirements of the Shari‘ah.
484 Shira’ bi al-nasi'ah a credit-purchase.
485 Shirb The right of irrigation.
a partnership created through contract as opposed to co-ownership that may be
486 Shirikat al- 'aqd the result of a joint purchase or agreement or it may result from inheritance or
from some other legal situation.
Another form of the term sharikah. Partnership between two or more persons
whereby, unlike Mudarabah, all of them have a share in finance as well as
487 Shirkah
entrepreneurship and management, though not necessarily equally. See
Appendix II for details.
488 Shirkat See Musharikah
489 Shirkat al-'amal see sharikat at-amal.
The right of preemption for a person who is his neighbor or who is his partner in
490 Shuff'ah
water.

491 Shuf’ah preemption.
492 Shukuk / Sukook Check, certificate of debt, certificates of investment; plural of Shak
493 Shurut conditions; the name given to the art of conveyancing in Islamic law.
494 Sighah form of the contract.
495 Simsar Broker, agent like travel agent or estate agent. See Samsarah.
496 SMS Fee SMS - Short Message Service Charges.
Specific written (and signed) instructions provided by a customer to debit his /
Standing her account by a specified amount on a pre-determined frequency. In the context
497 Instructions/ Auto of consumer financing, standing instructions are often requested from borrowers
Debit which have another Non checking account which can be used to service their
repayments.
Statement of The Bank's monthly or other periodic statement of account send to it's customers
498
Account showing particulars of the transactions carried out.
499 Suit Legal case filing.
Any saying of Prophet Muhammad (peace be upon him) or his act or any act of his
companion endorsed by him. After the Quran, the Sunnah is the most important
500 Sunnah source of the Islamic faith and refers essentially to the Prophets example as
indicated by his practise of the faith. The only way to know the Sunnah is through
the collection of Ahddith .
Supplementary Supplementary card member means the person who is issued a supplementary
501
Card card with the authorization and consent of the original / basic card member.
Supplementary
502 The person who is issued a Supplementary Card.
Card member
A chapter of the Quran. There are 114 surahs of varying lengths in the Quran. In
503 Surah all references to the Quran in the text (e.g. 30: 41), the first number refers to the
surah and the second to the ay ah or verse.
The Personal Identification Number issued to the Card member to enable the
Card member a Supplementary Card member or selected by a Card member or
504 T PIN
the Supplementary Card member and generated through IVR to use the
telephone banking facilities made available by the Bank.
505 T.C. A/C Time Credit Account
506 Tabarru' act of charity.
507 Tafwid delegation.
Earmarking a piece of wasteland that has no owner by an individual in order to
508 Tahjir
rehabilitate it. (This establishes the right of ownership on such land).
Islamic Insurance. A scheme of mutual support that provides insurance to
509 Takaful
individuals against hazards of falling into unexpected and dire need.
Takaful The amount payable to a takaful company in return for their coverage of an asset
510
Contribution at a pre-determined takaful rate.
The amount payable to a takaful coverage provider in return for their coverage of
511 Takaful premium
an asset at a pre-determined takaful premium rate.
The products designed to cover the customers’ liability / assets to any unforeseen
512 Takaful Products
circumstances which may face by the customer in future.
derivation; a methodology practised by the faqih, and that is based upon
513 Takhrij
reasoning from principles.
514 Takhsis restriction; restriction of the meaning of a text.
515 Tameen Another name of Takaful (Islamic insurance). See Takaful.
516 Tamlik Transferring ownership.
Discretion; sense of discriminating between right and wrong evident in the
517 Tamyiz
behavior of a minor.

518 Taqabbul al- 'amal Acceptance of work by either partner in a partnership based on labor.
519 Taqva Piety, Purety.
Preference of one legal evidence over another in the derivation of the rules of
520 Tarjih
law.
521 Tasarruf Act; right to transact; right of disposal of property.
TAT - Turn Around
522 Time required for application processing.
Time
523 Tawliyah Sale at cost without any profit for the seller.
524 Tawqit Limiting duration of contract or another legal act.
525 Ta’yin ascertainment of the goods sold through weight or measure.
A limited period of credit posted by bank into cardholder's card account for
526 Temporary credit
disputed transaction.T
The length of time for which a term loan has been approved and is typically
527 Tenure
structured in 12-month multiples.
This is a type of loan which is disbursed for a specified time duration after which
528 Term Loan the loan matures. This type of loan involve reduction of the principal outstanding
as and when the customer pay his / her installments.
Sale & Agency based financing facility for Customers who sell Finished Goods on
529 Tijarah Credit basis. This facility enables Customers to sell their Finished Goods stock,
meet their working capital requirements and enjoy the benefits of Cash sales.
Time barred A posted transaction which is disputed after 120 days time-limit or
530
Transactions MasterCard/Visa allowable time-limits by cardholder.
Title of the
531 Documents identifying the owner of the property.
property
Documents identifying the owner of vehicle such as excise file and registration
532 Title of vehicle
book in Autos.
533 Top - Up Top Up means line replenishment/enhancement.
Total Cash Outlay An amount including down payment, insurance, processing fee etc. which is paid
534
(TCO) after Auto loan approval.
Total Monthly Equal monthly amount payable including loan installment (Principal + Markup)
535
Payment (TMP) and insurance premium amount.
536 Trenches Loan disbursed in parts are called trenches.
537 Urf usage; custom.
538 Urudh Pl. of ‘Ardh: property that includes goods, slaves and even real estate.
Plural of Alim. The people of knowledge from amongst the Muslims who act on
539 Ulamaa
what they know and do what they say.
Refers to the whole Muslim community, irrespective of colour, race, language or
540 Ummah
nationality, which carry no weight in Islam.
A pilgrimage to Mekkah, but not during the Hajj period. It is also called "the
541 Umrah
Lesser Pilgrimage".
The fulfilled Umrah - the Umrah which the Prophet performed in the seventh
542 Umrah al-Qada year after Hijrah which he intended to do in the sixth year but which the Quraysh
unbelievers had not allowed him to complete.
543 Undertaking Indemnity provided by the customer.
544 Units Undivided portions in an asset.
Relating to Islamic banking, refers to an investment account where the account
Unrestricted holder authorizes the Islamic bank to invest the account holder’s funds on the
545 investment basis of Mudarabah contract in a manner which the Islamic bank deems
account appropriate without laying down any restrictions as to where, how and for what
purpose the funds should be invested.

Customer is not making payments against availed cross sell facility/product
Unsatisfactory
546 resulting bank has right to close either temporary or permanently said
Credit History
product/facility.
547 Urbun earnest money.
548 Urn al-shurut conveyancing; drafting of legal documents.
549 US Dollar Currency of the United States of America.
Ten per cent (in some cases five per cent) of agricultural produce payable by a
550 Ushr Muslim as a part of his religious obligation, like Zakat, mainly for the benefit of
the poor and the needy.
551 Validity Date The validity date specified by the Bank on the Card.
552 Venture Inventory / Property risked contract.
553 Venture Capital See Mudharbah
554 Wadhee'ah Sale at a loss.
555 Wadi'ah contract of deposit; bailment.
556 Waijdb / Wajib Compulsory, obligation as distinguished from wujub (duty).
A contract of agency in which one person appoints someone else to perform a
557 Wakalah
certain task on his behalf, usually against a certain fee.
558 Wakalah 'ammah general agency.
559 Wakalah khassah special agency.
560 Wakalah qasirah restricted agency.
561 Wakil agent.
562 Wali guardian.
Endowment. A charitable trust in the name of Allah, usually in perpetuity, and
563 Waqf usually for the purposes of establishing the Deen of Islam, teaching useful
knowledge, feeding the poor or treating the sick.
Relating to the law of waqf, refers to the person who establishes or donates his
564 Waqif
property by way of waqf.
Will (according to Islamic law a person cannot bequeath more than one third of
565 Wasiyah
his total inheritance nor can he bequeath in favour of his heirs).
566 Wilayah guardianship.
Wilayat al- authority granted by one partner to another to buy on credit beyond the limit of
567
istidanah the capital of the partnership.
Withdrawal To withdraw cash either through the Automated Teller Machines (“ATMs”) or
568
Facility through use of a Debit Card held by the Customer (“Debit Card”).
569 Yadribuna fi al-ard journeying through the earth seeking the bounty of Allah.
compulsories levy on every Muslim who has wealth greater than the amount of
570 Zakah / Zakat Nisab. The amount payable by a Muslim on his net worth as a part of his religious
obligations, mainly for the benefit of the poor and the needy. See also ushr.
A small obligatory head-tax imposed on every Muslim who has the means for
571 Zakah al-Fitr himself and his dependants. It is paid once yearly at the end of Ramadan before
Eid al-Fitr.
The Muslims wealth tax: One must pay 2.5% of ones yearly savings above a
certain amount to the poor and needy Muslims. The Zakah is compulsory on all
572 Zakah Al-Mal
Muslims who have saved(at least) the equivalent of 85g of 24 carat gold at the
time when the annual Zakah payment is due.
Zakatu-rid
573 Zakah of profits of merchandise.
Tijaarah
574 Zakatul Huboob Zakah of grain/corn.
575 Zakatul Madan Zakah of minerals.
576 Zakatur Rikaaz Zakah of treasure/precious stones.

577 Zar' seed; crop to be sown.
equivalent of legal personality in positive law; receptacle for the capacity for
578 Zimmah
acquisition; see ahd.
A comprehensive term used to refer to all forms of inequity, injustice,
579 Zulm exploitation, oppression and wrongdoing whereby a person either deprives
others of their rights or does not fulfil his obligations towards them.

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ISLAMIC GLOSSARY

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