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Glossary of terms and contracts (Arabic – English)

  • Ibra’

    This can be defined as a discount...

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  • I’fa’

    Waiver to set aside right.

  • Ijarah

    A lease contract.

  • Ijarah ‘ala al-ashkhas

    Hire of people.

  • Ijarah al-a’yan

    Lease of the asset.

  • Ijarah mawsuufah fi dhimmah

    A lease on a specific description...

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  • Ijarah muntahia bi tamleek

    The customer is provided for in...

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  • Ijarah mustaqbal

    Forward ijarah.

  • Ijarah tasqhilliyyah

    Refers to an operating lease, where the financial institution transfers...

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  • Ijarah thumma al bay’

    See Ijarah muntahia bi tamleek.

  • Ijarah wa al-iqtina’

    See Ijarah muntahia bi tamleek.

  • Ijtihad

    Interpretation

  • Ijma’

    Consensus or agreement of all Muslim scholars over interpretation.

  • ‘Illah

    Effective cause or ratio legis.

  • In rem

    Action relating to property rather than the person.

  • Inter absentees

    Not physically present.

  • Inter praesentes

    Physically present i.e. face to face

  • Islamic Research and Training Institute (IRTI)

    Established in 1981 to undertake research and provide training and information services in the member countries of the Islamic Development Bank and Muslim communities in non-member countries.

  • Istihsan

    Equity consideration.

  • Istishab

    Presumption of permissibility.

  • Istisna’

    A contract to build, manufacture, construct or develop the object...

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  • Istisna’ muwazi (parallel istisna’)

    See above.