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| Glossary
of Terms |
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| TAKAFUL TA'AWUNI |
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ARABIC TRANSCRIPT |
ENGLISH MEANING/EXPLANATION |
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| (A) GENERAL RELIGIOUS
TERMS |
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AHD |
COVENANT |
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AHKAM
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PLURAL
OF HUKUM, RULES,PROVISIONS AND LAWS INCLUDING ALLAH’S COMMANDS/NORMS/
VALUES FOR INDIVIDUAL BELIEVER. |
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AKHLAQ |
BEHAVIOR,
ATTITUDE, MORALITIES AND WORK ETHICS |
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AMANA / AQIDAH |
FAITH
AND BELIEF |
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AQD |
CONTRACT |
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AQILAH |
THE
PATERNAL RELATIVES WHO PAY THE BLOOD MONEY. |
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BALIGH |
A
PERSON ATTAINED AGE OF PUBERTY |
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BAYYINAH |
PROOF |
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DAMAN |
LIABILITY
FOR MAKING UP ANY LOSS, RESPONSIBILITY, |
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GUARANTEE,WARRANTY,
SURETY. |
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DARAR |
DAMAGE |
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DATIL |
AUTHORITY |
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DHARUHRAH |
NECESSITY |
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DEEN |
RELIGION |
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DIYAT
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BLOOD
WIT,BLOOD MONEY, A MONETARY COMPENSATION PAID FOR UNJUSTIFIED MANSLAUGHTER.
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FALAH |
SUCCESS,
VICTORY, ACHIEVEMENT |
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FAMILY
TAKAFUL |
ISLAMIC
LIFE INSURANCE |
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FAQEER |
POOR,
DESTITUTE, NEEDY |
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FAQR |
POVERTY |
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FATWA |
JURISTIC
OPINION, JURIDICAL DECISION |
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FARAID |
INHERITANCE |
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FARD OR WAJIB |
AN
OBLIGATORY DUTY, THE OMISSION OF WHICH IS PUNISHABLE |
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FIDYAH |
COMPENSATION |
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FIQH |
A
KNOWLEDGE OF SHARIAH THAT IS ISLAMIC LAW |
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FITRAH |
HUMAN NATURE |
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FUQAHA |
JURISTS |
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GENERAL TAKAFUL |
ISLAMIC
GENERAL INSURANCE |
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HALAL |
LAWFUL,
VALID |
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HARAM |
UNLAWFUL; FORBIDDEN AND PUNISHABLE |
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HAWALA
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ASSIGNMENT |
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HIBAH |
GIFT,
USED FOR SUPPLEMENTARY CONTRACTS OF ENDOWMENT |
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HUKM |
RULE,
INJUNCTION |
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IJTIHAD |
PERSONAL
REASONING; FIGHTING FOR CAUSE OF ALLAH(SUH) |
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ILM |
KNOWLEDGE |
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JAIZ
OR MUBAH |
AN
ACTION WHICH IS PERMITTED AND THE LAW IS INDIFFERENT |
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JAHANNAM |
HELL |
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JIZYAH |
TAX |
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JUNIN |
INSANITY |
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KAFIR |
UNBELIEVERY |
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KIFALAH
(CONTRACT) |
SOMEONE
WHO AGREES TO PROVIDE A GUARANTEE –USED FOR L/C |
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KHAIRAT |
DONATION |
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MAZHAB |
SCHOOL
OF JURISPRUDENCE |
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MAKRUH |
AN
ACTION WHICH IS DISLIKED YET NOT PUNISHABLE, BUT THE OMISSION IS REWARDED; DISAPPROVED. |
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MANDUB OR MUSTAHBAH |
AN
ACTION WHICH IS NOT REWARDED, BUT THE OMISSIONOF WHICH IS NOT PUNISHABLE;
RECOMMENDED |
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MASALIH
AL-MURSALAH |
DOCTRINES
OF PUBLIC INTEREST. |
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MASLAHAH |
UTILITY
OR BENEFIT WHICH NECESSITATE PROTECTIN OF
FAITH, LIFE, PREGNANCY, PROPERTY AND NATIONALITY. |
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MAUT |
DEATH, DEMISE |
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MIRATH |
INHERITANCE |
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MISKIN |
DESTITUTE,
NEEDY |
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MODHARABAH |
ISLAMIC
COMMERCIAL PROFIT SHARING |
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MUBAH |
PERMISSIBLE |
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MUDARAH |
HARM, INJURY |
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MUDHARIB |
ENTREPRENEUR OR TAKAFUL OPERATOR IN EFFECT,
CUSTODIAN OF PUBLIC FUNDS |
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MURABAHAH |
PERMISSIBLE
TRADE TRANSACTION |
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NAFS |
SELF,
LIFE |
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NASAB |
RELATIVE,
DESCENDANT |
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NASL |
LINEAGE,
PROGENY |
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NIYYAT |
INTENTIONS |
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P.A.A/C |
PARTICIPANTS
ACCOUNTT |
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QADA/QADR |
DESTINY,
SOMETIMES ASSOCIATED WITH MISFORTUNE OR CATASTROPHE |
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QIYAS |
ANALOGY;
LEGAL REASONING |
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RA’S-UL-MAL |
TAKAFUL
CONTRIBUTIONS/ PREMIUM/ INSTALLMENTS |
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SABI |
INFANT |
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SADAQAH |
CHARITY |
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SADAQAT
JARIAH |
A
FORM OF CHAIRTY |
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SAGHIR |
MINOR |
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SAHIB-UL-MAL |
TAKAFUL
PARTICIPANTS/ INVESTOR/ PROVIDERS OF CAPITAL |
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SHARIAH |
ISLAMIC
LAW |
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SAHIH |
VALID,SOUND,AUTHENTICITY |
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SHAHADAH |
WITNESSING |
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SHARAT |
CONDITION,
TERM, WARRANTY |
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SHARIAH |
PRACTICES AND ACTIVITIES |
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SYSTEM OF AQILA |
MUTUAL
LIABILITY ON A GROUP OF PERSONS, FOR THE ACTION OF ONE OF THEM, TO
PAY COMPENSATION. |
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SYSTEM OF QASAMAH |
COMPENSATION
PAID TO RELATIVES OF A PERSON WHO
IS KILLED AND THE KILLER CAN NOT BE FOUND |
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TABARRUAT |
DONATION |
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TAHRIM |
PROHIBITION |
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TAKAFUL |
JOINT GUARANTEE.
A MUTUAL PACT AMONG GROUP OF MEMBERS |
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OR PARTICIPANTS
AMONG THEMSELVES TO SHARE ANY LOSS |
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OR DAMAGE
THAT MAY BE INFLICTED UPON ANY OF |
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THEM AS DEFINED
IN THE PACT CONTRACT BASED ON |
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RECIPROCITY,
RISK-CLEARING & (PROFIT SHARING) AND MANAGED
BY |
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OPERATOR IN
ORDER TO PROVIDE COMPENSATION TO ANY MEMBER |
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IN THE EVENT
OF THE OCCURRENCE OF A CLEARLY |
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DEFINED LOSS. |
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TAKAFUL
AL TA’AWUNI |
COOPERATIVE CONCEPT OF RISK-SHARING AND MUTUAL SEL-HELP
PARTICIPATED BY A GROUP
MEMBERS. |
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TA'MIN |
INSURANCE |
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TAWAKKUL |
PUTTING TRUST
IN ALLAH (SWT) |
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THAWAB |
REWARD |
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TIJARI |
COMMERCIAL
OR PRIVATE SECTION |
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ULAMA |
SCHOLARS,
JURISTS, ACEDEMICIANS.(ISLAMIC) |
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UMMAH
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NATION OR ISLAMIC
UNIVERSAL COMMUNITY |
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UMR |
AGE |
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URF |
CUSTOM,
USAGE, COMMON PRACTICE |
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WADIAH |
DEPOSIT |
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WAJIB |
OBLIGATION,
COMPULSORY, MANDATORY |
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WAKALAH
(CONTRACT) |
APPOINTMENT
OF SOMEONE TO BE YOUR AGENT-
USED FOR ONE METHOD OF L/C; ABSOLUTE POWER OF |
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ATTORNEY |
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WAKIL
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AGENT |
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WALI |
GUARDIAN |
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WAQF |
CHARITY,
RELIGIOUS ENDOWMENT TESTAMENTARY |
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BEQUEST
OF REAL ESTATE. |
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WASIYRAH |
WILL,
BEQUEST |
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| (B) FINANCIAL AND BANKING TERMS |
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BAI' AL-DAYN |
SECURITIZATION
AND DEBT TRADING |
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BAI'- AL-ISTINA' |
SALE ON ORDER |
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BAI' AL-MURABAHAIN |
DEFERRED LUMP
SUM SALE |
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BAI' AL-SALAM |
SALAM SALE |
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BAI' BITHAMAN AJIL |
DEFERRED INSTALLMENT
SALE |
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BAIT- AL-MAL |
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BAI |
SALE |
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DAYN |
DEBT/LIABILITY |
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DHAMANAH |
GUARANTEE |
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DIYAT |
BLOOD WIT,
BLOOD MONEY, A MONETARY COMPENSATION |
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AGAINST UNJUSTIFIED
MANSLAUGHTER. |
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GHARAR |
UNCERTAINTY,
UNKNOWN. A TRANSACTION UNDER ISLAMIC LAW SHOULD
BE HELD |
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INVALID IF
IT INVOLVES THE ELEMENT OF GHARAR. |
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GARIM |
INSOLVENT,
PRINCIPAL DEBTOR, BANKRUPT |
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HIFZ (CONTRACT) |
SAFE CUSTODY |
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IJARA |
(LEASING)
AN ISLAMIC CONTRACT OF UNDER WHICH |
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THE LESSOR
RENTS ITS ASSET OR EQUIPMENT TO A |
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LESSEE(CLIENT).
THE DURATION, TERMS AND CONDITIONS |
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AND
RENTAL FEES ARE AS AGREED IN ADVANCE. |
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OWNERSHIP
AND TITLE IN THE LEASED ASSET/EQUIPMENT |
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REMAINS WITH
LESSOR. |
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IJARAH WA-IQTINA |
(LEASE/HIRE/PURCHASE)
SIMILAR TO IJARA EXCEPT THAT |
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THERE IS A
COMMITMENT BY THE LESSEE(CLIENT) TO |
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PURCHASE THE
LEASED ASSET/EQUIPMENT AT THE END |
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END OF THE
RENTAL PERIOD. LESSEE PAYS RENTAL FEES |
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FOR THE USE
OF THE LEASED ITEM(S) AND PAYS
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PURCHASE PRICE
AT THE END OF THE LEASE EQUAL TO: |
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(A) PRE-AGREED
VALUE OR (B) MARKET PRICE AT THAT TIME. |
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ONCE THE ACTUAL
SALE OCCURS, OWNERSHIP AND TITLE |
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PASSES FROM
LESSOR TO LESSEE. |
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ISQATAT(CONTRACT) |
RELEASES |
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ISHTIRAK (CONTRACT) |
PARTNERSHIP |
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ITAQAT
(CONTRACT) |
PERMISSIONS |
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IWAD |
CONSIDERATION |
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JAHALAH |
LACK OF KNOWLEDGE |
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MAISIR |
GAMBLING |
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MAL |
WEALTH, PROPERTY:
THING |
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MUAMALAH |
COMMERCIAL
TRANSACTION |
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MUDARABAH |
CO-PARTNERSHIP
WHERE AT LEAST TWO PARTIES ARE INVOLVED
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IN A COMMERCIAL
TRANSACTION IN WHICH ONE PARTY PROVIDES |
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CAPITAL WHILE
THE OTHER OFFERS SKILL IN CARRYING OUT THE |
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BUSINESS SUCCESSFULLY
IN VIEW OF SHARING THE SUBSE- |
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QUENT PROFITS
OR LOSS ACCORDINGLY. THIS IS A FINANCING |
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TECHNIQUE
ADOPTED BY ALL FINANCIAL INSTITUTION AND IN |
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COMMERCIAL
ACTIVITIES IN THE CONTEMPORARY WORLD AS |
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OPPOSED TO
THE RIBA. |
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MUSHARAKAH |
JOINT VENTURE
PROFIT SHARING, PARTNERSHIP |
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NAJSH |
OFFERING A
HIGH PRICE FOR SOMETHING WITHOUT HAVING |
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THE
INTENTION TO BUY IT BUT JUST TO CHEAT SOMEBODY ELSE |
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WHO REALLY
WANTS TO BUY IT. |
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P.S.A.
A/C |
PARTICIPANTS
SPECIAL ACCOUNT |
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QARD |
LOAN |
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QARD AL-HASAN |
LENDING WITHOUT
INTEREST OR BENEVOLENT LOAN |
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RABBUL MAL |
THE CAPITAL
PROVIDER IN A PROFIT AND LOSS SHARING |
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FINANCING
TECHNIQUE. |
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RETAKAFUL |
REINSURANCE |
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RIBA |
USURY, INTEREST
WHICH IS UNLAWFUL IN THE ISLAMIC SHARI'AH |
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RIBA
AL NASIAH |
INTEREST BASED
LENDING |
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RIZQ |
LIVELIHOOD;
SUBSISTENCE |
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SHARIKAH |
PARTNERSHIP |
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TAMLIKAT(CONTRACT) |
ACQUIRING
OF OWNERSHIP |
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TAQYIDAT(CONTRACT) |
RESTRICTIONS |
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TAUTHIQAT(CONTRACT) |
SECURITY |
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UQUD AL-ISHTIRAK |
PROFIT SHARING
CONTRACTS |
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UQUD AL-MUAWADHAT |
DEFERRED CONTRACTS
OF EXCHANGE |
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UQUD
AL TABARRUAT |
CONTRACT OF
CHARITY |
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WADIAH |
CUSTODY |
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WADIAH YAD DHAMANAH |
CUSTOMERS'
DEPOSITS IN CURRENT A/C GUARANTEED |
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CUSTODY |
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| ( C ) TAKAFUL TAAWUNI
SPECIFIC TERMS |
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AQD |
CONTRACT |
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A'MAL
KHAYREYA |
CHARITY |
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BERR
WA TAQWA |
GOOD DEEDS,
GOD FEARING |
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DAUN |
DISEASE |
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DAWA |
MEDICINE |
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DA'WAH |
CLAIM |
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DHAWU
AL-ARHAM |
RELATION CONNECTED
THROUGH FEMALE, A TERM USED IN |
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LAW OF INHERITANCE
FOR A SPECIFIC GROUP OR PERSON FOR |
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RIGHT IN INHERITED
PROPERTY. |
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DHAWU
AL-FARAID |
REFERING
TO A SPECIFIC PERSON WHOSE SHARES IN |
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INHERITANCE
HAVE BEEN DETERMINED IN THE HOLY QURAN. |
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DHIMMAH |
RESPONSIBILITY |
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E'ADAT
AL TAKAFUL |
RETAKAFUL |
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EKRAR |
DECLARATION |
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ESHTIRAK |
CONTRIBUTION |
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FADL |
EXCESS, ADDITIONAL,
SURPLUS |
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FAYED |
SURPLUS |
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GARAM |
DAMAGE, LOSS |
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GHOSH |
FRAUD |
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HASR
AL ERTH |
HERITAGE ASSIGNMENT
(INHERITANCE) |
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HESAB
AL ESTITHMAR |
(I I A) INDIVIDUAL
INVESTMENT ACCOUNT |
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AL FARDI |
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HESAB
AL MAKHATER |
(I R I A)
INDIVIDUAL RESERVE ACCOUNT |
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ALFARDEYA AL ESTITHMARI |
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HESAB
AL TAKAFUL |
(T T A) TAKAFUL
TAAWUNI ACCOUNT |
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KAST
AL TAKAFUL |
TAKAFUL PREMIUM |
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MAAQIL |
MUTUAL INSURANCE
SOCIETIES OF PRE-ISLAMIC ARABIA |
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MABLAGH
AL TAGHTEYA |
SUM ASSURED |
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MABLAGH
AL ESHTIRAK |
CONTRIBUTION
AMOUNT |
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MANAFI'
AL TAKAFUL |
TAKAFUL BENEFITS |
|
| |
|
|
|
| |
MARD |
ILLNESS |
|
| |
|
|
|
| |
MARID |
ILL |
|
| |
|
|
|
| |
MARD
AL-MAUT |
DEATH SICKNESS;
BED-RIDDEN |
|
| |
|
|
|
| |
MASHMOUL
BEL |
COVERED PERSON |
|
| |
TAGTEYA |
|
|
| |
|
|
|
| |
MATLASH
LAHO |
PERSON TO
BE COVERED |
|
| |
ALTAGTEYA |
|
|
| |
|
|
|
| |
MUDEER
AL TAKAFUL |
TAKAFUL
OPERATOR |
|
| |
|
|
|
| |
MUSHTARIK |
PARTICIPANT |
|
| |
|
|
|
| |
OKHOWA |
BROTHERHOOD |
|
| |
|
|
|
| |
QARD AL HASAN |
LOAN - INTEREST
FREE |
|
| |
|
|
|
| |
RUSHD |
AGE OF DISCRETION,
MATURITY, PUBERTY, MAJORITY |
|
| |
|
|
|
| |
SANADECK
AL ESTITHMAR |
INVESTMENT
FUNDS |
|
| |
|
|
|
| |
SHIFA |
CURE |
|
| |
|
|
|
| |
SUNDOOK
AL ESTITHMAR |
FUND (INVESTMENT) |
|
| |
|
|
|
| |
WAKALA
FEES |
AGENCY FEES |
|
| |
|
|
|
| |
OTHER ISLAMIC FINANCIAL TERMS |
|
| |
|
|
|
| |
AL AJR |
REFERS TO
COMMISSION, FEES OR WAGES CHARGED |
|
| |
|
FOR SERVICES |
|
| |
|
|
|
| |
AMANA/AMANAH |
RELIABILITY,
TRUSTWORTHINESS, LOYALTY, HONESTY. |
|
| |
|
TECHNICALLY,
A VALUE OF ISLAMIC SOCIETY IN MUTUAL |
|
| |
|
DEALINGS.
|
|
