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glossary

Glossary of Islamic Financial Terms

Source : IBFIM| 28 May 2013

The principles of Islamic Shari'ah governing commercial and financial transactions are extraordinary complex and elegantly simple

Bai` Bithaman Ajil

A contract of sale and purchase for the financing of an asset on a deferred payment and installment basis with a pre agreed payment period. The sales price includes a profit margin.

 

Glossary of Islamic terms

Source : Mark S. Luckie | The Washington Post
14 Jun 2011

Want to know the difference between hajj and halal? Here is a short glossary of some of the most commonly used words and phrases in Islamic religion and culture.

Allah
The Arabic word for God.

Hadith
A traditional account of things said or done by Muhammad recorded by his followers, commonly taught as a part of Islamic theology.

hajj

 
 

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