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haraam

Overview page. Subjects: Islam — Financial Institutions and Services.

Forbidden by Islamic law. In financial contexts, this applies chiefly to lending or borrowing money at interest. Various schemes enable Muslims to take out loans, notably mortgages, without...

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ijarah

Overview page. Subjects: Economics — Islam.

Economic term for leasing, typically offered through Islamic banks with long-term credit facilities for capital equipment purchases. May involve purchase or an installment sale, where a...

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muḍārabah

Overview page. Subjects: Economics — Islam.

Legal contractual arrangement under Islamic law between two partners for profit sharing—one provides capital and the other provides entrepreneurial or management skills. Islamic banks allow...

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musharaka

Overview page. Subjects: Economics — Islam.

The generic term for business partnership or “participation financing,” of which there are a variety of forms. The most popular in modern Islamic banking is inan, or limited liability...

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